Medical Disposables & CPJ back in TOP 10

Medical Disposables in TOP 10

Lasco Financial rose to $5.99 by the end of the week, while IC Insider.com downgraded earnings for Caribbean Flavours to $1.22 for the 2019 fiscal year, with both moving out of the Junior Market TOP 10.
Medical Disposables that suffered a fall in price to $4.50 and Caribbean Producers moved into the TOP stocks listing for the Junior Market. There were no new addition to the TOP 10 main market stocks at the close of the past week. There were some changes in the rankings, most noticeable was Radio Jamaica, with a rise in price to $1.35 from $1.25 at the close of the previous week, as the stock moved closer to exit the top list. Salada Foods rose in sympathy to good half year results, to close at $13.10 from $11.26 at the start of the week, but it pulled back after trading at an all-time high of $15. Caribbean Cement moved down to $37.50 from $40.05 and Barita Investments rose to $12.53 from $11.50 while Berger Paints saw increased selling in light of the company’s posting increased sales but lower profits in the March quarter due to a number of factors, some of which are not likely to be repeated, in the other quarters of the year.
The past week was characterized by some sharp price fluctuations and index movements in both markets, with the ending to the release of most first quarter results. Interest rates fell to their lowest levels on Treasury bills and the central bank cut the overnight rate by 25 basis points during the past week, seem to have little effect on the market so far. That will change as the weeks roll on, it may be that investors are now taking a break for May, this coming week could have the answer.
Former TOP 10 Junior Market stock Stationery and Office Supplies, closed at a new record high of $9 last week after positing good first quarter results with earnings per share up 70 percent to 17 cents and looking as if $1 is possible for the full year, with the commencement of the production of plain paper books.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 6.2 compared to an average PE for the overall main market of 10, based on 2018 estimated earnings. The main market PE is 7.3 for the top stocks, compared to a market average of 13.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 38 percent to the average for the Junior Market Top stocks but it’s a third of what the average PE for the year is likely to be of 20 times earnings and main market stocks traded at a discount of 45 percent to the market.
Stocks to Watch this week include, Barita, Grace Kennedy, PanJam Investment, Radio Jamaica, Salada, Jamaica Stock Exchange ordinary share, Stationery and Office Supplies. Although not yet listed, investors should keep an eye open for Sygnus Credit that saw its IPO more than twice oversubscribed.

tTech, LasFin & Blue Power in TOP 10

The Junior Market is up 7.5 percent for the year to date, helped considerably by three new listings since late December and recovery in the prices of three Lasco companies and a few others.
Investors pushed Treasury bill rates sharply down by 22 percent from 4.63 in December to 3.593 percent in February, while the central bank cut their overnight rates in sympathy to 2.75 percent. On the other hand profit results of companies have been mixed with some showing strong gains and others no so strong. So far stocks prices have yet to move to factor in the lower interest rates.
One company that had good 2017 results was ISP Finance but increased bad debt provisioning curtailed the growth in profits to just one percent after tax, but 20 percent ahead of the net 2016 profits with a 25 percent rise in revenues. The results for 2017 resulted in earnings per share being reduced to $1.20 for 2018 and with a rise in the stock price to $11.05 it is no longer in the TOP stocks. Also going out are, Access Financial and Paramount Trading. Access earnings have been reduced following their third quarter 2017 results.
Entering the TOP 10 Junior Market list are tTech, Lasco Financial and Blue Power. While Lasco Financial had lower profit in the December 2017 quarter than in 2016 that was due to added cost associated with the acquisition of Credi Scotia. The company will see a big jump in profit as a result of the acquisition. tTech is said to be seeing strong growth in clientele following a few years of soliciting new clients business. General Accident had a temporary setback in profit in 2017 due to a major claim but rising premium income margin should help boost profit in 2018 barring any major catastrophic claims. Key Insurance despite incurring cost associated with staff separation amounting to close to $50 million reported improved results for 2017 over 2016 and should go on to record the highest levels of profit in 2018 with expected better margin on insurance underwriting barring any unusually large claims. Stationery and Office had a record 2018 performance and is expected to show improve results in 2018 that will move the price upwards.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 6.3 compared to an average PE for the overall main market is 10 based on 2018 estimated earnings.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 39 percent to the average for the Junior Market Top stocks but its less than 50 percent of what the average PE for the year is likely to be, of 15 to 20 times earnings.

Ganja story pushes Junior Market higher

Lasco Manufacturing pushes Junior market index.

The Junior Market index rose 16.44 points to close at 2,763.53 at the end on Friday as a report that Lasco Manufacturing has set up a subsidiary to produce medicinal marijuana products in joint venture with an overseas partner.
Lasco Manufacturing is the most heavily weighted in the junior market index rose by 25 cents to help the market a nice bounce by contributing around 24 points to the market. At the close of trading the prices of 9 securities advanced, 7 declined and 6 remained unchanged.
At the close of market activities, trading ended with an exchange of 3,500,362 units valued at $13,179,651 with 22 securities changing hands, compared to 1,399,820 units valued at $5,859,024 from 19 securities changing hands, on Thursday.
Trading ended with an average of 159,107 units for an average of $599,075 in contrast to 73,675 units for an average of $308,370 on Thursday. For the month to date an average of 102,949 shares valued at $407,835 and previously, an average of 99,868 shares valued at $397,343. December closed with an average of 568,732 units valued at $3,447,957 for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 stocks ending with the bid higher than the last selling price and 4 with lower offers.
At the close of the market, AMG Packaging ended unchanged at $2.40, with just 100 stock units, CAC 2000 finished 10 cents higher at $8.50, trading 22,794 shares, Cargo Handlers settled 5 cents higher at $10.05, with 1,416 shares, Caribbean Cream ended trading 9 cents higher at $5.09, with 87,159 shares, Caribbean Producers finished trading with a loss of 20 cents at $4.30, with 153,893 units. Consolidated Bakeries closed with a loss of 26 cents at $2.18, with a mere 229 shares, Derrimon Trading concluded trading 10 cents higher at $7.10, with 4,337 shares, Dolphin Cove finished 50 cents higher at $16.90, with 33,102 stock units, Express Catering ended trading at $4.50, with 2,594 shares. FosRich Group traded at $2.61, with 15,337 shares, General Accident finished trading with a loss of 10 cents at $2.85, with 344,978 shares, GWest Corporation closed 30 cents higher at $2.90, in trading 1,219,959 stock units, Honey Bun ended with a loss of 18 cents at $4.32, with 18,500 units. Jamaican Teas settled 10 cents higher at $4.60, with 36,839 shares, Jetcon Corporation ended trading 40 cents higher at $4.50, with 7,541 stock units, Lasco Distributors ended at $3.50, with 704,191 shares, Lasco Financial concluded trading with a loss of 5 cents at $5.40, with 22,700 stock units. Lasco Manufacturing finished 25 cents higher at $4, to end with 133,300 units changing hands, after a newspaper article reported that they are going into the production of medicine from Ganja, subject to the receipt of license. Main Event settled at $6.20, with 14,501 shares, Medical Disposables ended trading with a loss of 1 cent at $4.95, with 213,000 shares, Paramount Trading traded with a loss of 3 cents at $3.45, with 192 shares and Stationery and Office finished trading at $5, with 463,700 stock units.
Prices of securities trading for the day are those at which the last trade took place.

Barita is back VM Investments out – TOP 10

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There is only one change to the TOP 10 lists, since we last reported on it, with Victoria Mutual Investments rising to more than $4 from the IPO price of $2.45, after listing in December and is replaced by Barita Investments.
Junior market stocks show some noted position change due to price movements. Key Insurance slipped in price to move atop that list, while Jamaican Teas gained and moved into the second half of the listing. CAC2000 posted results that were just 2 cents lower than IC Insider.com’s forecast of 80 cents, with the price climbing to $7.31 at close of the week and should really be going higher based on those numbers. Access Financial climbed back to $42, pushing it to the bottom of the list.
Former TOP 10 listing, Main Event reported a 79 percent jump in earnings for 2018, to 38 cents per share before taxation, the price may bounce about for a while around the $6, until it is clear that 2018 earnings should hit 55 cents per share.
With the Initial Public offerings (IPOS) out of the way, more life returned to the secondary market this past week with the main market enjoying buoyant volumes and the Junior Market recording some recovery with more buying interest.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 8.6 and 8.4 for the main market TOP 10. The average PE for the overall main market is 15 and 13.6 for the Junior Market, based on 2017 estimated earnings.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 37 percent to the average of the market for Junior Market Top stocks and 44 percent for the main market.
Market Watch| Investors should still keep a keen eye on Caribbean Cement for which supply seems to be declining and word that the company is close to an agreement in refinancing the leased assets that is expected to result in major savings in cost for 2018 onwards. FosRich and GWest Corporation, pulled back from their highs this past week with FosRich hitting $2.50 in trading on Friday, this one could see some rebounding but GWest Corporation could decline some more. Others to be watched are, CAC2000, General Accident, Cable & Wireless, NCB Financial, Berger Paints, JMMB Group, Main Event, Lasco Financial, Paramount Trading and Stationery and Office. Wisynco pulled back this past week to $10.80 and may well trade around this level for a while with a PE of 15 times 2018 earnings, as profit taking continues.

TOP 10 stocks – Watch for Wisynco

Wata produced by Wisynco

Movement in the TOP 10 lists, resulted in just one move out, while some changed positions notably on the list. Main Event was the sole stock dropping from the top list leaving room for Caribbean Cream to move in.
With the Initial Public offerings (IPOS) out of the way, more life returned to the secondary market this past week with the main market gaining strongly but Junior Market stocks continue to struggle but helped by gains in price of two new listings.
The year ahead will see a number of changes to the TOP listings with several of the current listing carrying over. Only ISP Finance so far is showing as a new likely TOP 10 listing for 2018 in the Junior Market. The main market list is likely to see about 4 new entrants for 2018, with Cable & Wireless, Barita Investments, Palace Amusement and Wisynco depending on when it list, joining the top stocks. Radio Jamaica sits just below the TOP 10 and could well squeeze into the 10 by the start of 2018. Profit results for the fourth quarter, are likely to impact prices of most stocks as the information will provide important fuel for price movements.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 7.9 and 8.2 for the main market TOP 10. The average PE for the overall main market is 14.2 and 13.4 for the Junior Market, based on 2017 estimated earnings.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 41 percent to the average of the market for Junior Market Top stocks and 42 percent for the main market.
Market Watch| Investors should still keep a keen eye on Caribbean Cement for which supply seems to be declining with the focus on refinancing of leased assets that is expected to result in major savings in cost for 2018 onwards. FosRich and GWest Corporation, the recent IPOs, started trading on the Junior Market last week with strong gains so far, they should be watched in the few trading days left for the year, to glean further directions as both are now richly priced. Others to be watched are, General Accident, Cable & Wireless , NCB Financial, Berger Paints, JMMB Group, Main Event, Lasco Financial, Paramount Trading and Stationery and Office. Wisynco could start trading this week and is expected to create some excitement with the issue more about twice oversubscribed.

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TOP 10 stocks – Watch FosRich on Tuesday

With the Initial Public offerings (IPOS) out of the way, more life returned to the secondary market this past week resulting in some changes to the TOP 10 lists.
Initial Public offerings for 2017 now seem to be over until they reappear in January, with Sygnus Capital Investments planning to be out of the block early. Others that were prepared to go in December could come to market in January, the start of what now appears to be another interesting year for local stocks. Coming Tuesday in the wider market, FosRich Group, the recent IPO will list and start trading on the Junior Market.
Prior to the past week, the focus on IPOs negatively affected trading in the secondary market with the Junior Market giving up almost all the gains make in the first half of the year and is still trading close to the low for the year.
The past week ended with Main Event as the only new entrant into the TOP 10 Junior Market stocks, with Blue Power leaving, as the price rose back to the $44. Sagicor Group returns to the Main Market list pushing out Pulse Investments. Interestingly, General Accident jumped to $3 by week end with limited supplies and slipped to number 2 on the list.
Investors should bear in mind that as the year closes, there will be changes to the TOP list for 2018, with a number on the current list, expected to repeat, but there will be new ones.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 8.1 and a PE of 8.2 for the main market TOP 10. The average PE for the overall main market is 14.2 and 12.8 for the Junior Market, based on 2017 estimated earnings.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 36 percent to the average of the market for Junior Market Top stocks and 44 percent for the main market.
Market Watch| The two markets seem to have found support this past week after retreating sharply over the prior two weeks. Investors should still keep a keen eye on Caribbean Cement for which supply seems to be declining fast and a focus on refinancing leased assets is expected to result in major savings in cost for 2018 onwards. FosRich, the recent IPO that starts trading on the Junior Market on Tuesday, General Accident, Cable & Wireless that appears scarce under $1, NCB Financial, Berger Paints, JMMB Group, Main Event, Lasco Financial, Paramount Trading and Stationery and Office.

VM Investments in TOP 10

VM Investments press conference for launch its IPO. from left is Michael McMorris – Chairman of VMBS, Courtney Campbell Group CEO, Devon Barrett CEO of VMIL and Janice McKenley – Group Chief Financial Offer.

Initial Public offerings were all the rage in Jamaica Stock Market this past week, with three IPOS opening and closing during the week all being oversubscribed and one new one coming to market to open on Monday and expected to close on the same day.
The focus on IPOs negatively affected trading in the secondary market with the Junior Market giving up almost all of the gains make in the first half of the year. The week ended with no movement in and out of the TOP 10 Junior Market stocks but VM Investments is a new one in the Main Market list along Pulse Investments that returned with a fall in the stock price during the week, and out goes Wisynco and Sagicor Group.
As indicated last week, the bulk of Wisynco’s gain should come in the latter part of 2018, based on current operations that should deliver earnings of 70 cents for the current year and $1 for the next fiscal as the company continues to recover from the ravages of the fire back in 2016. Much is expected from VM Investments that is priced to bounce well. Investors ought to bear in mind that that has the year closely, they will be changes to the TOP list for 2018, quite a number on the current list are expected to repeat in 2018.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended the week at 7.9 and a PE of 8 for the main market TOP 10. The average PE for the overall main market is 14.1 and 12.6 for the Junior Market, based on 2017 estimated earnings.
At the close of the week, discount for both the main and Junior markets have virtually merged, with the IC Insider.com’s TOP 10 stocks now trading at an average discount of 44 percent to the average of the market for Junior Market Top stocks and 46 percent for the main market.
Market Watch| The two markets retreated sharply over the past two weeks and broken through support levels with some individual stocks pulling back and pushing the market index down markedly, but the main market seems to have found a bottom and may be on the way up now that the major IPOs are closed. The junior market could be going through a consolidation phase for a while, at least that is what the market seems to be suggesting.
Investors should still keep a keen eye on Caribbean Cement for which supply seems to be declining fast, Cable & Wireless that appears scarce under $1, NCB Financial, Berger Paints, JMMB Group, Main Event, Lasco Financial, Paramount Trading and Stationery and Office.

Jam Teas, Blue Power & Wisynco in TOP 10

In a week of big price movements in the market three new stocks moved into the TOP 10 at the close of the last week. Wisynco that IPO debut this week just makes it into the main market TOP 10, suggesting there should be some gains ahead.
The bulk of Wisynco’s gain should come in the latter part of 2018 based on current operations that should deliver earnings of 70 cents for the current year and $1 for the next fiscal. Blue Power slipped in price to re-enter the top Junior Market list while Jamaican Teas rose based on fall in price and estimated earnings for 2018 fiscal year. Out of the TOP 10 Junior Market, are Derrimon Trading and Main Event that rose to $6. Wisynco pushed Pulse Investments out of the main market TOP 10.
At the close of Friday, the average PE ratio for Junior Market Top stocks dropped sharply from 9.2 last week to at 8.1 and a PE at 8.5 for the main market TOP 10. The average PE for the overall main market is 14.3 and 12.9 for Junior Market, based on 2017 estimated earnings.
At the close of the week, discount for both the main and Junior markets have virtually merged, with the IC Insider.com’s TOP 10 stocks now trading at an average discount of 42 percent to the average of the market for Junior Market Top stocks and 43 percent for the main market.
Market Watch| The two markets retreated sharply and broken through support levels with some individual stocks pulling back and pushing the market index down markedly. This week the focus could be on the three IPOs that opening in days.
Investors should still keep a keen eye on Caribbean Cement for which supply seems to be declining fast, Cable & Wireless that appears scarce under $1, NCB Financial, Berger Paints, JMMB Group, Main Event, Lasco Financial, Paramount Trading and Stationery and Office.

Derrimon out Kremi is back in TOP 10

Derrimon Trading reentered the TOP 10 last week but has spent just one week rising during the week from $6.50 to $8 and is replaced by Caribbean Cream, the only new entrant to the TOP list.
Jamaica Broilers slipped to $17.50 during the week and moved to the top of the main market listing with Berger Paints moving to Number 3 position having closed at $16.50 on Friday while Salada Foods rose to $10 and fell to 7th spot.
At the close of Friday, the average PE ratio for Junior Market Top stocks is at 9.2 and a PE at 8.6 for the main market TOP 10. The average PE for the overall main market is 14.7 and 14.4 for Junior Market, based on 2017 estimated earnings.
At the close of the week, IC Insider.com’s TOP 10 stocks now trade at an average discount of 34 percent to the average of the market for Junior Market Top stocks and 42 percent for the main market.
Market Watch| The two markets have retreated to be testing support and some individual stocks seem to be more in a mood for profit taking than wanting to move much higher currently, as such stocks may not gain much during the week ahead, but that is difficult to know. Investors should nevertheless keep a keen eye on Caribbean Cement for which supply seems to be declining fast, Cable & Wireless that appears scarce under $1, NCB Financial, Berger Paints, JMMB Group, Main Event, Lasco Financial, Paramount Trading and Stationery and Office.

Derrimon & Main Event in TOP 10

Main Event moved into the top list of Junior market stocks along with Derrimon Trading, this week, replacing Jamaican Teas and Caribbean Cream that entered the list last week and Pulse Investments and Sagicor Group are in the Main market listing.
Main Event fell back to $5.50 at the end of the past week, from $5.75, the week before, to reenter the list, while Jamaican Teas came in for some buying that lifted the price slightly, to $4.10, to see it leaving. Radio Jamaica is removed from the list as six months’ results suggest that earnings will be hard pressed to exceed the 6 cents reported for the 2017 fiscal year. Also out is Cable & Wireless, with nine months’ results suggesting lower profit than originally projected for the full year to December.
Derrimon Trading reported net profit for this three months to September from core business, jumping 56 percent to $27 million over the $17.5 million reported for the corresponding period in 2016. The consolidated net profit for the nine months was $132 million, up 22 percent over the corresponding period in 2016. Earnings per share amounted to 48 cents for the nine months and seems on track to end the year at 60 cents.
On Friday Lasco Financial, a former TOP 10 stock, hit a new record high of $6.60 following the reported profit that more than doubled in the September quarter to $100 million and up 63 percent to $167 million for the six months as well as from news of the acquisition of CrediScotia operations.
At the close of Friday, the average PE ratio for Junior Market Top stocks is at 9 and a PE at 8.5 for the main market TOP 10. The average PE for the overall main market is 15 and 14 for Junior Market, based on 2017 estimated earnings.
At the close of the week, IC Insider.com’s TOP 10 stocks now trade at an average discount of 35 percent to the average of the market for Junior Market Top stocks and 43 percent for the main market.
Market Watch| Investors should keep a keen eye for Caribbean Cement, Cable & Wireless that appears scarce under $1, NCB Financial, Berger Paints, JMMB Group, Lasco Financial, Paramount Trading, Derrimon Trading and Stationery and Office.