More losses for juniors on Tuesday

March 21, 2017 by

Dolphin Cove fell 99 cents and closed at $18.01 on Tuesday .

Trading on the junior market picked up on Tuesday with more than 1.2 million shares trading, but the junior market index suffered more losses, falling 28.37 points to end at 3013.59.96.
At the close 25 securities traded up from 17 on Monday and ended with 9 rising and 7 falling. A total of 1,269,002 units valued at $8,895,061 passed through the market, compared to 227,531 units valued at $1,357,774 on Monday.
The junior market ended trading with an average of 50,760 units for an average value of $355,802 traded, compared to 13,384 units for an average value of $79,869 on the previous trading day. The average volume and value for the month to date ended at 113,155 units and $673,038. On the immediate preceding trading day the average volume and value for the month to date, were 117,955 units with an average value of $697,441. The average volume and value for February, ended at 223,938 units and $1,379,459.
Trading ended with 3 stocks had bids higher than their last sale prices and 3 ended with lower offers, than the last sale.
At the close of the market on Tuesday, Access Financial ended trading at $34 with 5,300 units changing hands, AMG Packaging closed at $5.70 with 20,257 units changing hands, Blue Power closed with 150 units changing hands at $36.60 after falling 40 cents, CAC 2000 closed with a loss of 5 cents to end at $7.80 with 16,108 shares traded. Caribbean Cream closed trading with 1,800 units and lost 30 cents to end at $7.70, Caribbean Producers climbed 45 cents in trading 141,143 units at $4.10, Consolidated Bakeries ended trading with a gain of 20 cents with 22,000 shares changing hands, to close at $3.20. Derrimon Trading rose by 10 cents and ended at a new high of $8.60 with 9,866 shares changing hands, Dolphin Cove lost 99 cents and closed trading with 122,148 shares, at $18.01, General Accident closed trading with 67,000 shares at $3.25, Honey Bun closed with 16,849 shares changing hands to end at $7, ISP Finance had 13,189 units changing hands to close with a gain of 25 cents at a 52 weeks’ high $12.25, Jetcon Corporation closed trading a rise of 90 cents with 1,700 shares being exchanged to end at $11, Knutsford Express traded 5,990 units but lost 50 cents to close at $42, Lasco Distributors ended with 6,399 units trading at $7 after gaining 20 cents, Lasco Financial gained 1 cent with 25,000 shares changing hands, to end at $4.24, Lasco Manufacturing closed with 110,927 units changing hands at $4.70, Main Event had 15,004 shares changing hands, to close with a fall of 10 cents at $4.50, Medical Disposables closed at $6 with 1,000 shares changing hands and Paramount Trading lost 15 cents and ended with 61,750 units changing hands at $3.55. Tech ended with 17,912 units changing hands at $7 after rising by 95 cents, Derrimon Trading preference share ended with 2,665 units changing hands to close at $2.10 and Eppley 9.5% preference share, traded 500,000 units at $6.04.

Filed Under: JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , ,

Fall for juniors on Monday

March 20, 2017 by

Trading on the junior market declined sharply on Monday with just over 200,000 shares trading. The junior market index suffered a loss of 12.40 at the close at 3041.96.
At the close 5 advanced and 8 declined, with 227,531 units valued at $1,357,774 passing through the market, compared to 1,296,408 units valued at $ $5,940,417 on Friday. Trading ended with 5 stocks had bids higher than their last sale prices and 5 ended with lower offers, than the last sale. The junior market ended trading with an average of just 13,384 units for an average value of $79,869 traded, compared to 99,724 units for an average value of $456,955 on the previous trading day. The average volume and value for the month to date ended at 117,955 units and $697,441. On the immediate preceding trading day the average volume and value for the month to date, were 126,669 units with an average value of $748,905. The average volume and value for February, ended at 223,938 units and $1,379,459.
At the close of the market on Tuesday, Access Financial added $1.19 to close off its recent lows, to end at $34 with 6,160 units changing hands, AMG Packaging closed at $5.70 with 22,250 units changing hands after trading at a high for the day of $27.60, Blue Power closed with 383 units changing hands at $37 after adding 50 cents, CAC 2000 closed with a loss of 15 cents to end at $7.85 with 12,266 shares traded. Caribbean Producers fell 5 cents in trading 30,000 units at $3.65, Derrimon Trading rose by 20 cents and ended at a new high of $8.50 with 4,634 shares changing hands, General Accident lost 5 cents and closed trading with 25,000 shares at $3.25, Honey Bun closed with 1,219 shares changing hands to end at $7, Iron Rock Insurance traded 110 shares to end at $3.25 after falling by 15 cents, ISP Finance had 3,591 units changing hands to close with a gain of 25 cents at $12. Jetcon Corporation closed trading sharply lower with a fall of $2.40 with 4,604 shares being exchanged to end at $10.10, Lasco Distributors ended with 6,053 units trading at $6.80 after declining 20 cents, Lasco Financial gained 23 cents with 10,492 shares changing hands, to end at $4.23, Lasco Manufacturing closed with loss of 20 cents as a mere 4,470 units changed hands at $4.70, Main Event had 80,817 shares changing hands, to close with a fall of 29 cents at $4.60, Medical Disposables closed at $6 with 12,182 shares changing hands and Paramount Trading ended with 3,300 units changing hands, to end at $3.70.

Filed Under: JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , ,

Big fall for juniors on Monday

March 13, 2017 by

Blue Power dropped sharply in trading on Monday.

The junior market index suffered a large decline at the close of trading on Monday as 22 securities changed hands with Access Financial dropping $10.99 to $32.81 with just 2,000 shares trading and Blue Power diving $13.70 to close at $30 with 2,000 shares changing hands.
At the close 7 advanced and 12 declined, leading the market index being chopped by 91.60 points, to close at 3,004.13 as 696,611 units valued at $3,845,397 passed through the market, compared to 10,450,308 units valued at over $52,212,947 on Friday. Trading ended with 6 stocks had bids higher than their last sale prices and 4 ended with lower offers, than the last sale. In spite of the large index decline three stocks closed at new high at the end of trading.
The junior market ended trading with an average of 31,664 units for an average value of $174,791 traded, compared to 522,515 units for an average value of $2,610,647 on the previous trading day. The average volume and value for the month to date ended at 151,408 units and $906,810. On the immediate preceding trading day the average volume and value for the month to date, were 168,514 units with an average value of $1,011,384. The average volume and value for February, ended at 223,938 units and $1,379,459.
At the close of the market on Monday, CAC 2000 closed with a gain of 45 cents at a 52 weeks’ closing high of $8 while 38,000 shares traded, Cargo Handlers lost $2 in trading 2,693 shares at $21.50, Caribbean Cream closed trading with 36,500 units and lost 9 cents to end at $8, Consolidated Bakeries ended trading with a gain of 45 cents with 145,100 shares changing hands, to close at $2.49. C2W Music had 4,958 units changing hands to close with a loss of 3 cents at 30 cents, Dolphin Cove rose $2 and closed trading with 17,351 shares, at $20, General Accident closed trading with 10,893 shares at $3.30, Honey Bun shed $2 with 22,500 shares changing hands to end at $5, ISP Finance had 5,358 units changing hands to close with a gain of 75 cents at a 52 weeks’ high of $11.75, Jamaican Teas rose 37 cents and ended trading 8,736 shares to close at $6.82. Jetcon Corporation closed trading with 3,839 shares being exchanged for loss of 3 cents to end at $11, Knutsford Express traded 350 shares to close at a 52 weeks’ high of $40.50, Lasco Distributors ended with 22,580 units trading at $6.85 after adding 5 cents, Lasco Financial fell 7 cents with 131,090 shares changing hands, to end at $4. Lasco Manufacturing closed with loss of 50 cents as 59,106 units changed hands at $4.50, Main Event had 126,775 shares changing hands, to close with a fall of 50 cents at $4.50, Medical Disposables fell 37 cents to close at $6.18 with 10,000 shares changing hands. tTech ended with 44,782 units changing hands, the price fell $1.95 to end at $6.05 and Derrimon Trading preference share ended with 2,000 units changing hands at $2.10.

Filed Under: JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , ,

3 all-time highs for IC TOP 10 stocks

March 13, 2017 by
Add your HTML code here...

Berger closed at a new all-time high on Friday

The prices of several stocks listed on the Jamaica Stock Exchange underwent some sharp adjustments in the past week, and especially so on Friday, the day after government disclosed revenues measures for the 2018 fiscal year.
Nothing was disclosed to send negative signals to investors, apart from some slight increase in inflation to be caused by increased taxes on a number of items, which could be partially offset by the rise in the tax threshold for individual taxpayers. If any thing the budget sends a strong message that the next twelve months should be highly positive for investments in stocks and real estate with increased fiscal surplus that have to be generated to meet the 7 percent primary surplus, that will have some deflationary impact and lead to lower interest rates near term. While the tax on cigarettes may initially be considered negative for Carreras the increase will allow the company to garner increased revenues to cover the tax and help boost profits.
The TOP 10 junior and main market stocks saw only a few movements in and out during the past week. A number of the stocks in the list hit new highs during the week. The price of ISP Finance hit a new high of $11.50 as some supply came to the market. With limited supply and the potential for strong growth in profits the stock looks like a candidate for as split before too long. Berger Paints and Pulse Investments climbed sharply to new highs, with the former trading as high as $15 during the week but settled back at $14, up from $11.51 at the close of the previous week. Pulse Investments closed the week at $8.55 and could go higher based on the limited supply on offer at $10.
The markets continue to consolidate while awaiting early signals from 2017 first quarter results. With the TOP stocks valued well below the average of the markets’ PE ratio and at a large discount to the valuation based on 2016 earnings, around 20 times, the Top 10 stocks should continue to record gains once the bull market remains intact.
In the junior market, Dolphin Cove and Jetcon Corporation returns to the top list after exiting, at the close of the previous week and with the latter falling sharply in price to close at $11.03. The two replaced Lasco Manufacturing and AMG Packaging, two that entered in the past week. These stocks are still within striking distance for the top tier listing but market activity in the coming week could change all of that.
In the main market of the Jamaica Broilersreported strong gains in its third quarter profits and should encourage investors to bid the stock up, during the week and Berger Paints seems set to move out of the list by the close of the week and Caribbean Cream and Dolphin Cove could move out of the top list during the week.

Filed Under: Buy Rated, Feature Stories, Stock Market, Stocks to watch Tagged With: , , , , , , , , ,

Juniors fall on Thursday

March 9, 2017 by

Main Event hits new high of $5.10.

Juniors market stocks mostly retreated in trading on Thursday as 20 securities changed hands leading to 8 advancing and 9 declining, leading the market index down 23.20 points, to close at 3,086.17.
Trading ended with 1,482,096 units valued at over $12,049,960 passing through the market, compared to 1,492,475 units valued at over $9,844,241 on Thursday. At the close 5 stocks had bids higher than their last sale prices and 2 ended with lower offers, than the last sale.
The junior market ended trading with an average of 74,105 units for an average value of $602,498 traded, compared to 64,890 units for an average value of $428,010 on the previous trading day. The average volume and value for the month to date ended at 109,514 units and $744,840. On the immediate preceding trading day, the average volume and value for the month to date, were 116,596 units with an average value of $773,309. The average volume and value for February, ended at 223,938 units and $1,379,459.
At the close of the market on Friday, AMG Packaging closed at $24 after falling 40 cents with 2,158 units changing hands, on the day before the 5 for 1 stock split is to be effected in trading. Caribbean Cream closed trading with 671,501 units and gained 9 cents to close at $8.09, Caribbean Producers rose 30 cents in trading 6,400 units $4.30, Consolidated Bakeries ended trading with a loss of 15 cents with 300 shares changing hands, to close at $2.50 after trading at $2 during the trading session, as the price adjust to the disappointed 2016 results. C2W Music had 5,000 units changing hands to close with a loss of 2 cents at 33 cents, Derrimon Trading ended at $8 with 31,030 shares changing hands, Dolphin Cove dropped $1.75 and closed trading with 107,000 shares, to end at $16. General Accident closed trading with 9,500 shares at $3.30, Honey Bun gained 70 cents with 16,649 shares changing hands to end at $6.50, ISP Finance had 28,000 units changing hands to close with a loss of 30 cents at $11, Jamaican Teas shed 70 cents and ended trading 35,485 shares to close at $7.30. Jetcon Corporation closed trading with 145,125 shares being exchanged for gain of 50 cents to end at $13, KLE Group added 44 cents and ended trading 886 units, to close at $2.90, Lasco Distributors ended with 6,085 units trading at $6.70, Lasco Financial fell 16 cents with 148,000 shares changing hands, to end at $4.50. Lasco Manufacturing closed with loss of 20 cents as 182,496 units changed hands at $4.70, Main Event had 67,852 shares changing hands, to close with a gain of 10 cents at a 52 weeks’ closing high of $5.10, Medical Disposables rose 14 cents to close at $6.50 with 3,719 shares changing hands. Paramount Trading ended with 14,300 shares changing hands and lost 5 cents to $3.75 and tTech ended with 610 units changing hands as the price rose 40 cents to end at $6.50.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , ,

Changes for TOP 10 stocks

February 25, 2017 by

Gains in the overall market of 20 percent for the year to date have spawned some attractive gains for many stocks, but there is likely to be much more to come for the rest of the year.
The junior market hit new highs during the past week but pulled back quite a bit on Friday, leading to positive and negative price changes. ISP Finance had two sizable trades during the week, the price was up to a new high of $10 but closed the week at $9. Medical Disposables slipped by $1.40 to $6 at the end of the week. Access Finance closed with the bid at $38 compared to $35 last week. Earnings for Lasco Manufacturing and Lasco Financial were reduced following release of the December results and partially accounted for the fall out of the TOP 10 for the two. Lasco Manufacturing sits just below the TOP 10 with a PE of 9 while Lasco Financial is in 16th spot with a PE of 10, both are below the junior market average of 12. The space left by the two, have been filled by General Accident having a PE of 8 and Caribbean Producers valued at a PE of just under 9.
In Main market TOP 10 trading activity during the past week, Jamaica Broilers jumped to $16 from $14.50 to end up be edged out of the top list by Scotia Investments. Strong demand pushed the number 1 main market stock, Cable & Wireless to $1.50 from $1.28 at the start of the week with more news on a potential offer to buy out minority shareholders by Liberty Global, while Caribbean Cement jumped to a new high of $39.60 but closed with just limited selling at $45. The company reported profit of $1.3 billion for 2016 down from $1.55 billion in 2015. In 2016 there were exceptional costs of $807 million while 2015 had one off income of $168 million. The cost savings that will flow from the cut in the labour force will have a positive effect on cost for 2017. Broilers that now sits just below the TOP 10 boast a PE of just 8 compared to an average for the main market of 12 and a potential of 20 for the year.

Filed Under: Buy Rated, Feature Stories Tagged With: , , , , , , , , , , , , ,

Big fall for juniors on Friday

February 24, 2017 by

Dolphin Cove dropped $3.85 on Friday to end at $16.15.

The junior market lost 42.53 points at the close on Friday according to the report From Jamaica Stock Exchange. The exchange report omitted trading data for Main Event and when included could result in a higher decline in the junior market index which is reported to have closed at 3,120.22.
Trading concluded with 18 securities changed hands, of 8 advanced and 8 declined, while 3 stocks closed at new 52 weeks’ high.
Trading ended with 1,700,678 units valued at over $11,745,304 passing through the market, compared to 946,475 units valued at over $5,488,079 on Thursday. At the close 5 stocks had bids higher than their last sale prices and 4 ended with lower offers, than the last sale.
The junior market ended trading with an average of 94,482 units for an average value of $652,517 traded, compared to of 52,582 units for an average value of $304,893 on the previous trading day. The average volume and value for the month to date ended at 238,297 units and $1,465,313 compared to 246,757 units and $1,513,124 to the previous day. The average volume and value for January, ended at 165,547 units and $884,749.
At the close of trading, CAC 2000 lost 40 cents and closed at $7.10 with 160,000 units changing hands, Cargo Handlers traded 1,000 shares and gained $1 to end at $25, Caribbean Cream closed trading with 13,060 units at $8.01, after slipping by 38 cents. Caribbean Producers fell 27 cents in trading 10,000 units $4.30, Consolidated Bakeries lost 39 cents in trading 39,860 shares to close at $3.70, Investors chopped $3.85 off the price of Dolphin Cove that closed trading with 12,435 shares, to end at $16.15. General Accident closed with 32,590 shares while falling 20 cents to end at $3.30, Honey Bun had 21,059 shares changing hands, to end at $7.95, ISP Finance lost $1 while trading 514,500 shares to end at $9, Jamaican Teas gained 95 cents in trading 11,284 shares to close at $9. Jetcon Corporation closed trading with 38,522 shares being exchanged, to end at $11.50, Knutsford Express gained 6 cents and ended trading 5,000 units, to close at a 52 weeks’ high of $35.06, Lasco Distributors ended with 120,070 units trading with a rise of 25 cents at $7. Lasco Financial traded 65,122 shares changing hands, to end with a rise of 22 cents at $4.62, Lasco Manufacturing rose 10 cents and closed with 357,945 units changing hands at $4.95, Main Event had 263,064 shares changing hands, to close at $4.71. Medical Disposables fell by $1 to close at $6 with 31,889 shares changing hands, Paramount Trading rose 9 cents and ended with 500 shares changing hands at $3.79 and tTech rose just 9 cents and closed trading with 2,778 units changing hands at $7.70.

Filed Under: Feature Stories, JSE Junior Market Tagged With: , , , , , , , , , , , , , , , , , , , , ,

New record close for juniors – Tuesday

February 21, 2017 by

The junior market hit a new record close at the end of trading on Tuesday, with a strong gain of 57.28 points to close at 3,101.51 as 19 securities changed hands.
The market ended with an equal numbers of advancing and declining stocks, after three stocks rose by $1, $4 and $5.10.
At the market’s close, 7 stocks rising while 7 declined while 3 closed at 52 weeks’ highs. Trading ended with 1,021,882 units valued at $6,003,095 passing through the market, compared to 2,642,818 units valued at over $15,747,182, on Monday. At the close 6 stocks had bids higher than their last sale prices and 2 with lower offers, than the last sale, while 1 stock closed at new 52 weeks’ high while one traded at an intraday high.
An average of 53,783 units with an average value of $315,952 traded, compared to of 110,117 units with an average value of $656,133 on the previous trading day. The average volume and value for the month to date ended at 258,010 units and $1,598,653 compared to 272,597 units and $1,690,274 to the previous day. The average volume and value for January, ended at 165,547 units and $884,749.
At the close of trading, CAC 2000 rose 55 cents and closed at $7.50 with 11,000 units changing hands, Caribbean Cream closed trading with 84,589 units at $8.15, after gaining by 15 cents. Caribbean Producers closed trading with 3,466 units being exchanged at $4.50 for a loss of 10 cents, Derrimon Trading ended at $7.20 with 130,736 shares changing hands, Dolphin Cove jumped $4 in trading 2,451 shares, to close at a 52 weeks high of $20. General Accident closed trading with 20,009 shares while falling 2 cents to end at $4.10, Honey Bun gained 50 cents and closed with 30,210 shares changing hands to end at $7.50,

Knutsford Express jumped $5.10 to a new high of $35.

ISP Finance traded 5,000 units to end at a 52 weeks’ high of $10, Jamaican Teas traded 2,018 shares to close at $8. Jetcon Corporation closed trading with a 9 cents loss, with 66,550 shares being exchanged, to end at $10.80, Key Insurance traded 23,923 units, to close with a rise of 11 cents at $3, KLE Group fell 10 cents and ended with 43,319 units changing hands at $2.60. Knutsford Express ended trading just 200 units to close at record $35, after jumping $5.10, Lasco Financial traded 60,000 shares changing hands, to end with a fall of 20 cents at $4.50, Lasco Manufacturing closed with 183,341 units changing hands, with a loss of 5 cents at $4.95, Main Event had 251,120 shares changing hands to close at $4.80. Medical Disposables closed at $7 with 21,446 shares changing hands, Paramount Trading ended with 56,373 shares changing hands at $3.80 and tTech shed 70 cents and closed trading with 26,131 units changing hands at $7.20.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , ,

10 TOP Junior market stocks for 2017

February 5, 2017 by

tTech, one of ICI Insider.com top selections for 2017.

With just over one month of 2017 slipping by, the junior market is up more than 14 percent in a relative short time. Market movement delivered some stunning gains with five stocks rising between 54 percent and 77 percent up to Friday.
The PE ratio, the best measure of valuing stocks, for this market is at 10.5 times 2017 estimated earnings and 16 times 2016, with 9 stocks selling above this level, including Cargo Handlers selling at a rich 51 times 2016 and 40 times 2017 earnings. The top 10 stocks have PE ratios for 2017 between 4.3 and 7.4 times estimated earnings compared to the average of 10.5. Nine socks are priced higher than the average.
Technical indicators show the junior markets braking through major resistance levels at 2,600 points and seem poised to reach new highs around 3,400 points before the next level of resistance is met, that is 15 percent away from the close on Friday.
What makes junior market stocks attractive, is their size, relative to the majority of main market stocks and their ability to grow at a much faster pace, from existing business or expansion into new ventures, delivering superior profits and greater growth in the stock prices.
ISP Finance has very limited supply of stocks available for sale, this should ensure that the price should surge to match seller and buyers. The company could see a sharp rise in profits if the $145 million raised in a bond issue last year is invested in new loans. Based on its interim results to September last year, interest income works out at 100 percent per annum. At these levels and with the infusion of cash from the bond and the cash to flow from profits, the stock could enjoy and explosive blast, if they are able to put the funds into profitable loans.
tTech revenues for this technology company grew strongly by 34.3 percent for the nine months to September and stronger 43 percent for the September quarter, with very good demand for its services. A negative is that cost has been growing just as fast, as they add personnel to service customers need. At September 2016, the company had 33 full-time employees compared to 24 at the same period in 2015. While staffing grew 57 percent between September 2015 and September 2016, the growth in the September quarter was only 7 percent over the June quarter. The sharp growth in cost slowed growth in profits, from a relatively small base. The slowdown in staffing in the September quarter, should allow more revenues to flow into profits in 2017 onwards.

Lasco Manufacturing

Lasco Manufacturing has enjoyed very strong demand for its new drinks, resulting in major expansion of the factory. Total revenue to September 2016 was $4 billion, an increase of 28 percent over the same period last year, resulting from increased production volumes brought to market, as part of the expansion of the manufacturing plant.
The company indicated that production at the liquid plant continues to grow steadily. The plan is for increase capacity to meet strong market demand for the iCool line of beverages, by ramping up production with the installation of additional equipment by the end of the financial year. The new Dry Plant at White Marl is fully operational together with the existing Red Hills Road Dry Plant. New products will be introduced by the end of 2016 to enhance the product line which is projected to continue to realize significant sales and profits, the company stated.
Main Event is the latest public issue to hit the market. The issue was heavily oversubscribed. The price is set to enjoy a big bounce when it list this week Wednesday with the PE ratio of just 7, based on 2016 earnings and less based on estimated 2017 profit. The funds raised will be used to expand its operation, including setting up a branch in Montego Bay.
Medical Disposables focussed on increasing the product line it represents in 2016, reflecting in a strong 38 percent sales growth for the first six months of the financial year, but at lower margins. Increased cost associated with the expanded sales has so far kept profit from growing a great deal in 2016. That should change in 2017, as sales growth, out pace cost increases. With the focus on rapidly expanding products and sales, this is clearly a stock for investors to keep a keen eye on.

Caribbean Flavours traded at $9.50 on the junior market last week

Caribbean Flavours is a company with much promise for growth, with potential for increased exports and new product lines for sale, locally and with the Caribbean region. The stock is selling below many other in the junior market currently, and the price has room to run, having fallen to $9.50 with the confusion investors faced, with the acquisition majority shares by Derrimon Trading.
Access Financial is undervalued based on a number of factors but the stock is extremely scarce. Earnings for the fiscal year ending March, should be in the order of $2.80 and based on this and with 10 junior market companies selling at more than 17 times 2016 earnings, the stock should be trading over $45. As the company makes profit, most of the funds are reinvested in its operation to expand loans, this in turn fuels strong increased profit. Access seems set to generate earnings of $4.35 per share for the 2018 fiscal year, which will push the price much higher than its current level.
Key Insurance nine months profit ended at $66 million compared to $68 million for the 2015 period and seems set to reach $120 million for the full year, for earnings per share of 35 cents. The company should benefit from the lowering of restriction on investments that insurance companies could undertake which should free up funds for more profitable investments as the companies see fit. Investing in general insurance companies can be riskier than for many other companies, in the short term.

Jetcon Corporation revenues enjoyed strong growth for 1st nine months of 2016

Jetcon Corporationlisted at $2.25 in 2016, is shot to $10.50 for a rise of 366 percent. An announcement of a stock split and dividend gave the stock added push as investors bought more shares at higher prices. The company more than doubled profits to September last year over results for 2015 for the same period. Jetcon benefitted from the capital injection of the public share issue. It helped boosts inventory, and in turn grew sales by 61 percent to $610 million for the nine months to September and 86 percent for the September quarter. The publicity from the listing seems to have enhance the company’s image in the minds of potential customers which has also helped sales. The trend of increased sales for the past two years suggest that sales growth may continue to be strong in 2017 and should be helped by the continued attractive financing terms available in the market, strengthening of the economy and reduction in PAYE that some workers will enjoy, when the tax threshold increases in April thus increasing take home pay.
Dolphin Cove was the darling of the investing public when the company was listed but seems to have lost its lustre as profit growth slowed sharply. With continued growth in the tourism industry and more cruise ships coming to the country, the company should get a boost in revenues and earnings for this undervalued stock.

Persons associated with this article may have an interest in the companies commented on.

Filed Under: Buy Rated, Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , ,

BUY RATED stocks set for more big gains

February 3, 2017 by

Scotia Investments was added to BUY RATED stocks

In December last year, Scotia Investments was added to the BUY RATED list and in January this year, Main Event, the latest company that offered shares to the public, in a recent initial public offer, was added to the list.
Main Event is slated to list on the junior market next Wednesday. The strong fourth quarter results for Scotia Investments, and the attractive price, along with good potential growth for Main Event, made them compelling candidates to be placed on the list. The latter was heavily oversubscribed, and the listing opening in a very bullish market, is bound to result in a big increase for the stock price, within days of listing. IC Insider.com lifted the watch from a few of the stocks, based on what is expected of profits in 2017, that will make them attractive buys.
Many of the big winners are expected to grow as profit increases and the Jamaica Stock Exchange PE ratio increases, to better reflect valuations, with the low level of interest rates now in the system. With a number of stocks priced at PE in excess of 20, it is not far fetched to see many others joining this level, which would mean a continuation of the recent bull run on stocks.
The list shows that many of the listings in Jamaica, have done well, with some doing very well. While many are not likely to deliver outside returns, a few on the list, could do exceeding well. Listed among these are, Access Financial, ISP Finance, Lasco Manufacturing, Main Event and tTech from the Junior market and from the main market Barita Investments will be hard to catch while Caribbean Cement, JMMB Group and National Commercial Bank should be delivering gains of 100 percent or close to that level for 2017.
The Trinidad stocks seem mired in recent environment and but for a few cases are best left out of the reckoning for the time being.

Filed Under: Buy Rated, Feature Stories Tagged With: , , , , ,