Trading ended on the Trinidad and Tobago Stock Exchange on Wednesday, with a 70 percent decline in the volume of stocks traded following an 81 percent drop in value compared to Tuesday and resulting in trading in 20 securities similar to Tuesday and ended with the prices of three stocks rising, nine declining and eight remaining unchanged.
Investors exchanged 104,956 shares for $1,041,674 compared to 346,444 stock units at $5,524,348 on Tuesday.
An average of 5,248 shares were traded at $52,084 compared to 17,322 units at $276,217 on Tuesday. Trading for the month to date averages 12,260 stock units at $150,359 compared with 14,637 units at $183,676 on the previous day. The average trade for August ended at 14,526 shares at $195,195.
The Composite Index fell 6.26 points to 1,206.17, the All T&T Index shed 7.48 points to end at 1,845.03, the SME Index lost 3.57 points to close at 66.38 and the Cross-Listed Index dipped 0.69 points to 73.13.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Agostini’s ended at $67 with traders dealing in 30 shares, Ansa Merchant Bank ended at $44.50 in swapping 33 stocks, Calypso Macro Investment Fund ended at $22.50 with investors exchanging 3 stock units, Endeavour Holdings fell $1 to close at $12 with an exchange of 600 units. First Citizens Group rallied 24 cents to $49.24 after 953 shares were traded, FirstCaribbean International Bank fell 2 cents to $6.97 with 1,001 units being traded, GraceKennedy slipped 10 cents and ended at $3.20 with 15,000 stocks clearing the market, Guardian Holdings shed 50 cents in closing at $19 with 1,000 stock units being traded. JMMB Group ended at $1.32 with shareholders swapping 873 stocks, Massy Holdings dropped 3 cents to end at $4.56, with 35,013 shares crossing the market, National Enterprises remained at $3.73 in an exchange of 524 units, National Flour Mills lost 1 cent to close at $1.63, with 4,609 stock units crossing the market. One Caribbean Media slipped 1 cent to end at $3.82 after a transfer of 576 stock units,
Point Lisas shed 15 cents to close at $3.25 as investors exchanged 2,386 stocks, Prestige Holdings ended at $7.93 with investors dealing in 684 units, Republic Financial rose $1 to $126 while investors exchanged 342 shares. Scotiabank shed $1.20 and ended at $73.25 with a transfer of 2,549 shares, Trinidad & Tobago NGL rose 98 cents to $13.98 with an exchange of 30,564 units, Unilever Caribbean ended at $11.60 with 1,298 stocks being traded and West Indian Tobacco ended at $10.55 with 6,918 stock units crossing the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading dives in Trinidad
Falling stocks beat out risers in Trinidad
Trading rose on the Trinidad and Tobago Stock Exchange on Monday, with 108 percent more stocks traded as the value climbed 69 percent more than on Friday resulting in the trading of 20 securities compared with 19 on Friday, with four stocks rising, nine declining and seven remaining unchanged.
On Monday, investors traded 349,081 shares for $3,336,115, compared to 168,047 stock units at $1,975,520 on Friday.
An average of 17,454 shares were traded at $166,806 compared with 8,845 units at $103,975 on Friday, with trading month to date averaging 13,260 shares at $136,213 compared with an average trade for August of 14,526 shares at $195,195.
The Composite Index declined by 2.65 points to 1,215.74, the All T&T Index dropped 7.97 points to 1,845.61, the SME Index remained at 66.57 and the Cross-Listed Index rose 0.43 points to 75.81.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Agostini’s fell 70 cents to close at $67.30 with stakeholders trading 379 shares, Angostura Holdings ended at $22.98 after 44 stock units passed through the market, Ansa McAl shed $1 and ended at $53 after a transfer of 285 stocks, Calypso Macro Investment Fund rallied 1 cent to end at $22.50 with an exchange of 1,078 units. First Citizens Group popped 1 cent in closing at $49.01 with shareholders swapping 1,976 stocks, FirstCaribbean International Bank slipped 1 cent to $6.99 with traders dealing in 30 units, GraceKennedy dipped 4 cents in closing at $3.30 after investors traded 3,080 shares, Guardian Holdings remained at $19.25, with 127 stock units clearing the market. JMMB Group remained at $1.34 with an exchange of 14 stocks, L.J. Williams B share climbed 26 cents to end at $2.56 with 2,000 shares crossing the market, Massy Holdings skidded 4 cents to close at $4.50 with investors dealing in 263,400 units, National Enterprises increased 14 cents to $3.75 in an exchange of 30,578 stocks.
One Caribbean Media ended at $3.75 after investors ended trading 800 shares, Prestige Holdings ended at $7.90 with an exchange of 906 units, Republic Financial lost $1 to end at $124, with 11,165 stocks crossing the market, Scotiabank dipped 75 cents to close at $73 after an exchange of 1,033 stock units, Trinidad & Tobago NGL shed 10 cents to $14.50 with investors transferring 9,358 shares. Trinidad Cement ended at $3.20, with 768 stocks changing hands, Unilever Caribbean ended at $11.90 with a transfer of 485 stock units and West Indian Tobacco dipped 5 cents to end at $10.75 in an exchange of 21,575 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Key Insurance leads movers in ICTOP10
The impact on the market with the presence of an Initial Public Offer opening was not very pronounced this time around, with the One Great Studio opening and closing this past week with the issue being oversubscribed, but the Junior Market did experience a sharp fall early in the week that could well be related to investors seeking funds to invest in the IPO.

In the Main Market, Key Insurance climbed 14 percent to $2.88 to be the sole winner of note, while 138 Student Living crashed 6 percent to $4.11, just a fraction above the APO price for shareholders of $4.05, that is projected to raise just over $2 billion. JMMB Group shed 5 percent to close the week at $27.40, making for a compelling long term investment and Sygnus Credit Investments fell 4 percent to $11.47.
The Junior Market ICTOP10 closed the week with Caribbean Cream dropping 16 percent to $3.50, this comes against the background of sharply falling cost for milk solids, one of the significant input cost in the production of ice cream. Caribbean Assurance Brokers slipped 7 percent to $2.68 and Everything Fresh dropped 14 percent to $1.37 and Image Plus slipped percent to $2.05. Iron Rock Insurance was the gainer of note, rising 10 percent to $2.30.
The pending additional issue of 138 Student Living shares kept the price depressed and with the offer coming public with 513 million shares with an option to upsize by 318.5 million units, it will satisfy a great deal of demand and, therefore, put a short term lid on price appreciation. The situation will be worse as the company lacks the ability to inform investors about its operations in a manner that is befitting of a company its size.
Note that Margaritaville is listed on both the Main Market and the USD Market, with similar values.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.1, well below the market average of 12.7. The Main Market TOP10 is projected to have an average of 322 percent to May 2024, based on 2023 forecasted earnings.
The most highly valued Main Market stocks, representing 32 percent of the Main Market, are priced at a PE of 15 to 80, with an average of 29 and 20 excluding the highest PE ratios, with a PE of 22 for the top half and 17 excluding the stocks with the highest PEs.
The Junior Market Top 10 PE sits at 5.3 compared with the market at 10.8. There are 10 stocks representing 21 percent of the market, with PEs from 15 to 40, averaging 21, that is well above the market’s average. The top half of the market has an average PE of 15, possibly the lowest fair value for Junior Market stocks currently, and projected to rise by 271 percent to May 2024.
The divergence between the average PE ratio of the Main and Junior Markets and the overall market valuation are important indicators of the likely gains for ICTOP10 stocks.
The markets are not in a bullish state, but there continue to be cases of slow upward movements in some prices as investors respond to some recent attractive results, leading them to quietly nibble away at a number of stocks, gradually reducing the supply of a number of them that are attractively priced. The list includes stocks such as Access Financial, AMG Packaging, Everything Fresh, Dolphin Cove, Caribbean Cream, Caribbean Assurance Brokers, Lasco Distributors and Lasco Manufacturing, Main Event and Transjamaican Highway.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but not always. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks will likely deliver the best returns up to the end of May 2024 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate, resulting in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Trinidad Stock Exchange drops in August
Trading ended for August lower than July on the Trinidad and Tobago Stock Exchange on Wednesday, with the volume of stocks traded rising 6 percent with a 23 percent lower value than on Tuesday, resulting from trading in 20 securities down from 22 on Tuesday, with prices of four stocks rising, seven declining and nine remaining unchanged, ahead of the market closing on Friday for the Independence Day holiday.
Investors exchanged 157,416 shares for $1,978,952 compared to 147,834 stock units at $2,564,061 on Tuesday.
An average of 7,871 units were traded at $98,948 compared to 6,720 shares at $116,548 on Tuesday, with trading month to date averaging 14,526 shares at $195,195 compared with 14,814 units at $199,661 on the previous day. The average trade for July amounts to 36,525 shares at $302,493.
The Composite Index dipped 0.86 points to end at 1,220.39, the All T&T Index fell 0.94 points to close at 1,854.20, the SME Index rallied 0.86 points to finish at 66.57 and the Cross-Listed Index slipped 0.11 points to 75.87.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Agostini’s dipped 7 cents to $67.93 after an exchange of 64 shares, Ansa McAl lost 40 cents and ended at $54, with 4,102 stocks crossing the market, Calypso Macro Investment Fund rose 50 cents to close at $22.50 after investors traded 499 units, Endeavour Holdings ended at $12 with a transfer of 589 stock units. First Citizens Group ended at $49, with 6,604 shares crossing the market, FirstCaribbean International Bank slipped 1 cent to $6.99 with a transfer of 246 units, GraceKennedy skidded 3 cents to close at $3.31, with 11,950 stocks changing hands, Guardian Holdings rallied 25 cents in closing at $19.25 with shareholders swapping 13,000 stock units. JMMB Group ended at $1.34 with an exchange of 28,795 shares, Massy Holdings remained at $4.55 with traders dealing in 67,742 stocks, National Enterprises rallied 1 cent in closing at $3.61 with 3,735 stock units clearing the market, National Flour Mills ended at $1.63 after 8,305 units passed through the market.
One Caribbean Media climbed 5 cents and ended at $3.75 as investors exchanged 5 units, Point Lisas remained at $3.40 in an exchange of 600 stocks, Prestige Holdings ended at $7.90 in trading 457 shares, Republic Financial fell 1 cent to $125.02 in switching ownership of 5,107 stock units, Scotiabank ended at $73 after trading 461 shares, Trinidad & Tobago NGL. dropped 20 cents to end at $14.60 after it closed with 2,588 units changing hands, Unilever Caribbean shed 9 cents in closing at $11.90 with an exchange of 22 stock units and West Indian Tobacco ended at $11 with stakeholders exchanging 2,545 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Stocks mostly fall on Trinidad Exchange
The Trinidad and Tobago Stock Exchange ended trading on Tuesday, with falling stocks dominating trading on a 3 to 1 ratio following a 42 percent drop in the volume of stocks traded after the value jumped 64 percent over Monday, resulting in the trading of 22 securities compared with 18 on Monday, with just three stocks rising, nine declining and 10 remaining unchanged.
Investors exchanged 147,834 shares for $2,564,061 versus 252,791 stock units at $1,568,228 on Monday.
An average of 6,720 shares were traded at $116,548 compared with 14,044 units at $87,124 on Monday, with trading month to date averaging 14,814 shares at $199,661 compared to 15,327 units at $204,930 on the previous day. Trading in July averaged 36,525 shares at $302,493.
The Composite Index dipped 2.02 points to end at 1,221.25, the All T&T Index shed 3.70 points to finish at 1,855.14, the SME Index lost 3.57 points to conclude trading at 65.71 and the Cross-Listed Index slipped 0.03 points to end at 75.98.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Agostini’s ended at $68 after an exchange of a mere 2 shares, Angostura Holdings dipped 23 cents to $22.75 with trading in 331 stocks, Calypso Macro Investment Fund finished at $22 in an exchange of 1,323 stock units. Endeavour Holdings shed 75 cents to close at $12 after a transfer of 280 units, First Citizens Group remained at $49 with investors trading 1,270 stocks, FirstCaribbean International Bank ended at $7, with 1,617 stocks crossing the market. GraceKennedy fell 1 cent and ended at $3.34 with investors exchanging 50 units, Guardian Holdings remained at $19 after 208 shares changed hands, JMMB Group ended at $1.34 with 14,748 units crossing the market. Massy Holdings dipped 8 cents in closing at $4.55 after an exchange of 92,333 shares, National Enterprises ended at $3.60 with stock units changing hands, National Flour Mills popped 1 cent to close at $1.63, with 800 stocks clearing the market.
NCB Financial remained at $3.25 in swapping 119 units, One Caribbean Media skidded 4 cents to $3.70 as investors exchanged 195 stocks, Point Lisas declined 20 cents to end at $3.40 in switching ownership of 600 shares. Prestige Holdings ended at $7.90 in trading 250 stock units, Republic Financial advanced 1 cent to $125.03, with 14,242 stocks changing hands, Scotiabank lost 75 cents in closing at $73 while exchanging 1,186 units. Trinidad & Tobago NGL dropped 10 cents and ended at $14.80 after investors swapped 3,025 stock units, Trinidad Cement gained 10 cents to end at $3.20 in an exchange of 516 shares, Unilever Caribbean slipped 1 cent to close at $11.99 with investors transferring 3,283 units and West Indian Tobacco remained at $11 with a transfer of 29 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
5 TTSE stocks rise, 5 decline on Monday
Funds passing through the Trinidad and Tobago Stock Exchange dropped sharply on Monday, compared to Friday even as the volume of stocks traded jumped 80 percent valued 55 percent less than on Friday, resulting in 18 securities trading compared with 22 on Friday, with prices of five stocks rising, five declining and eight remaining unchanged.
Investors exchanged 252,791 shares for $1,568,228 versus 140,206 stock units at $3,469,318 on Friday.
An average of 14,044 shares were traded at $87,124 compared to 6,373 units at $157,696 on Friday. Trading for the month to date averages 15,327 stock units at $204,930 versus 15,398 units at $211,376 on the previous trading day. The average trade for July amounts to 36,525 shares at $302,493.
The Composite Index rallied 0.32 points to 1,223.27, the All T&T Index gained 0.41 points to finish at 1,858.84, the SME Index remained at 69.28 and the Cross-Listed Index gained 0.03 points to end at 76.01.
Investor’s Choice bid-offer indicator shows one stock ending with the bid higher than the last selling price and three with lower offers.
At the close, Agostini’s ended at $68 with an exchange of 79 shares, Ansa McAl remained at $54.40 with a transfer of 367 stocks, Ansa Merchant Bank popped $2.30 to $44.50 after 10 stock units crossed the market. Calypso Macro Investment Fund ended at $22 with 1,000 units being traded, First Citizens Group ended at $49, with 2,422 shares clearing the exchange, GraceKennedy popped 1 cent in closing at $3.35 after an exchange of 52,000 stock units. Guardian Holdings shed 2 cents and ended at $19 after 270 units passed through the market, Guardian Media remained at $2 in trading 270 stocks, JMMB Group ended at $1.34 while exchanging 77,918 units. Massy Holdings lost 5 cents to close at $4.63 in an exchange of 35,209 shares, National Enterprises fell 15 cents to end at $3.60 with investors dealing in 72,075 stock units,
National Flour Mills advanced 8 cents to $1.62 after a transfer of 24 stocks. Prestige Holdings increased 5 cents to close at $7.90 with investors exchanging 169 shares, Republic Financial dropped 93 cents and ended at $125.02 in an exchange of 4,318 stocks, Scotiabank skidded 25 cents in closing at $73.75 after 901 units were traded. Trinidad & Tobago NGL remained at $14.90 after exchanging 2,533 stock units, Unilever Caribbean climbed 1 cent to close at $12 with traders dealing in 2,776 stocks and West Indian Tobacco ended at $11 with investors transferring 450 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
CPJ returns to ICTOP10

Caribbean Producers
Caribbean Producers (CPJ) returns to the TOP10 after a long period of absence, following the fall out of Berger Paints from the Main market Top10, even as CPJ earnings are based on June 2023 full year earnings with the company is yet to release these results.
Preliminary projection indicates earnings of $2.50 per share for the 2024 fiscal year that would put the stock into the third position on the TOP10 list. Until the full year results are in, the estimate for the 2023 year is used.
The Main and Junior markets closed the week with moderate changes in market indices, with a slight fall in the Junior Market and a modest increase in the other.
The Main and Junior markets closed the week with moderate changes in market indices, with a slight fall in the Junior Market and a modest increase in the other.
The Junior Market had one stock rising 10 percent and two falling 12 and 10 percent, with more modest changes in most of the rest. The Main Market had one stock climbing 10 percent and one falling 6 percent as the largest movers.
Caribbean Cream the leading mover in the Junior Market ICTOP10, climbed 10 percent to $4.15, followed by Edufocal rising 4 percent to $1.45. Iron Rock Insurance was the worst performer, falling 12 percent to $2.10 and was followed by general Accident, down 10 percent to $4.43, while Caribbean Assurance Brokers slipped just 4 percent to $2.87.
Berger Paints rose 10 percent to $7.76 in the Main Market, followed by Guardian Holdings with a 4 percent rise to $439.80, JMMB Group also gained 4 percent to close the week at $28.79, but 138 Student Living fell 6 percent to $4.35 and Caribbean Cement fell 4 percent to $50.
Investors should note that Margaritaville is listed on both the Main and USD markets, with similar values.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.2, well below the market average of 12.6. The Main Market TOP10 is projected to have an average of 322 percent, to May 2024, based on 2023 forecasted earnings.
The 2most highly valued Main Market stocks, representing 26 percent of the Main Market, are priced at a PE of 15 to 100, with an average of 31 and 20 excluding the highest PE ratios, with a PE of 23for the top half and 17excluding the stocks with the highest PEs.
The Junior Market Top 10 PE sits at 5.4 compared with the market at 10.7. There are 10 stocks representing 21 percent of the market, with PEs from 15 to 38, averaging 20, well above the market’s average. The top half of the market has an average PE of 15, possibly the lowest fair value for Junior Market stocks currently, and is projected to rise by 271 percent to May 2024.
The divergence between the average PE ratio of the Main and Junior Markets and the overall market valuation are important indicators of the likely gains for ICTOP10 stocks.
The markets are not bullish, but there continue to be cases of slow upward movements in some prices as investors respond to some recent attractive results, leading them to quietly nibble away at a number of stocks, gradually reducing the supply of a number of them that are attractively priced. The list includes, Access Financial, AMG Packaging, Everything Fresh, Dolphin Cove, Caribbean Cream, Caribbean Assurance Brokers, Lasco Distributors and Lasco Manufacturing, Main Event and Transjamaican Highway.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but not always. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks will likely deliver the best returns up to the end of May 2024 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Trading drops on Trinidad stock market
Trading ended on the Trinidad and Tobago Stock Exchange on Friday, with the volume of stocks traded skidding 91 percent and the value diving 75 percent below Thursday’s levels, resulting from trading in 22 securities compared with 21 on Thursday, with five stocks rising, six declining and 11 remaining unchanged.
Investors exchanged 140,206 shares for $3,469,318 versus 1,636,883 stock units at $13,787,664 on Thursday.
An average of 6,373 units were traded at $157,696 compared with 77,947 shares at $656,555 on Thursday, with trading month to date averaging 15,398 units at $211,376 compared to 16,044 units at $215,222 on the previous day. The average trade for July ended at 36,525 shares at $302,493.
The Composite Index rallied 5.95 points to end at 1,222.95, the All T&T Index dropped 2.38 points to finish at 1,858.43, the SME Index ended at 69.28 and the Cross-Listed Index advanced 2.08 points to 75.98.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Agostini’s ended at $68 in an exchange of 783 shares, Angostura Holdings climbed 23 cents to $22.98 after a transfer of 10 units, Ansa McAl remained at $54.40 and closed with 17,580 stocks being traded. Calypso Macro Investment Fund gained 20 cents to close at $22 after exchanging 11 stock units, First Citizens Bank ended at $49, with 521 stocks crossing the market, FirstCaribbean International Bank ended at $7 with investors trading 1,408 shares. GraceKennedy shed 1 cent to close at $3.34 in an exchange of 450 units, Guardian Media declined 15 cents in closing at $2 in switching ownership of 4,132 stock units, JMMB Group rallied 4 cents to $1.34 with a transfer of 26 units. L.J. Williams B share ended at $2.59, with 990 stocks changing hands, Massy Holdings skidded 2 cents to end at $4.68 with traders dealing in 10,458 stock units, National Enterprises remained at $3.75, with 1,779 shares crossing the exchange. NCB Financial rose 25 cents to close at $3.25 with stakeholders exchanging 2,891 shares, One Caribbean Media gained 9 cents to close at $3.74, with 26,000 units crossing the market, Point Lisas ended at $3.60 after an exchange of 334 stock units.
Prestige Holdings remained at $7.85 with investors dealing in 500 stocks, Republic Financial fell 5 cents to $125.95 as investors exchanged 13,719 stocks, Scotiabank ended at $74 while exchanging 309 stock units. Trinidad & Tobago NGL lost 10 cents in closing at $14.90 with investors swapping 8,773 stock units, Trinidad Cement remained at $3.10 after an exchange of 21,830 shares, Unilever Caribbean ended at $11.99 with investors transferring 1,035 shares and West Indian Tobacco skidded 10 cents to close at $11, with 26,667 stock units clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market stocks dominate ICTOP10
Everything Fresh jumped 19 percent to $1.60 to be the leading mover in ICTOP10 stocks, followed by Iron Rock Insurance, that rose 14 percent to $2.39, while Dolphin Cove and Margaritaville rose 4 percent to $17.05 and 11.34 US cents, respectively, on a week when the Junior Market slipped and the Main Market was pretty stable.
Investors may want to note the latest report on the court judgement on the Mystic Mountain sale as there were indications that Dolphin Cove was an interested buyer and they may well be amongst the preferred bidders. If they succeed, expect the stock that currently has limited offers posted on the JSE platform to jump.
Declining ICTOP10 stocks include Key Insurance, with an 11 percent fall to $2.56, followed by a fall of 7 percent for Caribbean Cream to $3.76. Berger Paints fell 7 percent to $7.05 and Edufocal lost 6 percent to $1.40.
Investors should note that Margaritaville is listed on both the Main and USD markets, with similar values.
The week closed with no new additions to the lists.
ICTop10 stocks that released results in the past week include the following:
General Accident Insurance was one of the TOP10 stocks to release results in the week, with the results validating why the stock is high on the TOP10 List. The half year results ended with revenues jumping sharply by 39 percent to $5.75 billion, with profit after tax of $165 million, up 193 percent over $56 million earned in the 2022 half year. Revenues for the June 2023 quarter surged 41 percent to $2.7 billion over the $1.9 billion in 2022, with profit of $225 million, up by 201 percent from $75 million in 2022.
Dolphin Cove reported a 5 percent increase in revenues to US$4.4 million in the June 2023 quarter over the June 2022 quarter and a 37 percent jump for the half year to US$9.2 million from US$6.76 million, with profit of US$1.153 million for the second quarter, up 10.5 percent over the $1.04 million in the June 2022 quarter and US$2.72 million for the half year, up 48 percent to US$1.84 million in the half year to June 2022.
JMMB Group reported a 25 percent jump in revenues to $14.34 billion in the June quarter from $11.48 billion in 2022 and generated a profit of $2.5 billion, thus reversing a loss of $2.2 billion in 2022.
138 Student Living reported a 12 percent increase in revenues to $347 million over the $309 million in the June 2022 quarter and a 17 percent jump for the nine months to $1.05 billion from $894 million and profit of $270 million, up 10.5 percent compared with $239 million in the nine months to June 2022 and for the June 2023 quarter and $89 million, up 48 percent to $54 million.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.1, well below the market average of 12.6. The Main Market TOP10 is projected to have an average of 317 percent, to May 2024, based on 2023 forecasted earnings.
The 13 most highly valued Main Market stocks representing 28 percent of the Main Market, are priced at a PE of 15 to 95, with an average of 30 and 21 excluding the highest PE ratios, with a PE of 22 for the top half and 17 excluding the stocks with the highest PEs.
The Junior Market Top 10 PE sits at 5.5 compared with the market at 10.9. There are 10 stocks representing 21 percent of the market, with PEs from 15 to 40, averaging 20, which is well above the market’s average. The top half of the market has an average PE of 15, possibly the lowest fair value for Junior Market stocks currently, and projected to rise by 278 percent to May 2024.
The divergence between the average PE ratio of the Main and Junior Markets and the overall market valuation are important indicators of the likely gains for ICTOP10 stocks.
The markets are not bullish, but there continue to be cases of slow upward movements in some prices as investors respond to some recent attractive results leading them to quietly nibble away at many stocks, gradually reducing the supply of a number of them that are attractively priced. The list includes stocks such as Access Financial, AMG Packaging, Everything Fresh, Dolphin Cove, Caribbean Cream, Caribbean Assurance Brokers, Lasco Distributors and Lasco Manufacturing, Main Event and Transjamaican Highway.
ICTOP10 focuses on likely yearly winners. Accordingly, the list includes some of the best companies in the market but not always. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks will likely deliver the best returns up to the end of May 2024 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate, resulting in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Steady Trading on the Trinidad Exchange
Trading remained steady on the Trinidad and Tobago Stock Exchange on Friday, with the volume of stocks traded declining 35 percent with a value 17 percent more than on Thursday, resulting in trading in only 13 securities compared with 19 on Thursday, with two stocks rising, six declining and five ending unchanged.
Investors exchanged 145,523 shares for $2,024,645 versus 225,431 stock units at $1,736,371 on Thursday.
An average of 11,194 units were traded at $155,742 compared with 11,865 shares at $91,388 on Thursday, with trading month to date averaging 12,486 shares at $$171,395 compared with 12,666 units at $173,377 on thursday. The average trade for July ended at 36,525 shares at $302,493.
The Composite Index declined 4.37 points to 1,234.62, the All T&T Index shed 8.45 points to end at 1,873.28, the SME Index remained at 70.47 and the Cross-Listed Index closed at 77.14.
Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and five with lower offers.
At the close, Agostini’s shed $1 to end at $67 after 500 shares cleared the market, Ansa Merchant Bank remained at $44.50, with 222 stock units clearing the market, First Citizens Group ended at $49.77 in switching ownership of 90 units. Guardian Holdings ended at $19.50 with investors transferring 100 shares, GraceKennedy remained at $3.35 with a transfer of 1,000 stocks, JMMB Group ended at $1.34 and closed with an exchange of 7,015 stock units. Massy Holdings climbed 5 cents in closing at $4.75 as investors exchanged 67,236 shares,
Prestige Holdings fell 1 cent to $7.89 after investors ended trading 982 units, Republic Financial declined $1.99 and ended at $125.01, with 5,897 stock units crossing the market. Scotiabank lost 50 cents to end at $74 after exchanging 727 shares, Trinidad & Tobago NGL dropped $1.98 to $15 with investors trading 37,182 units, Unilever Caribbean dipped 1 cent to close at $11.99 after an exchange of 20,300 stocks and West Indian Tobacco advanced 5 cents to $11.30, with 4,272 units crossing the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.