Buy Rated stocks coming in

January 24, 2014 by

Friday, 24th January 2014 | There has been no change to the Buy Rated or Market Watch list since our last update on Friday, 20th December, even as prices of some stocks have increased sine the start of the new year.

This week, IC Insider makes special note of the continued success of Caribbean Cement, which closed the week at $4.60, up 71 percent since our selection in November and Neal & Massy, up by 10 percent since selection in July. Republic Bank continues to inch upwards and had some gains during the week and so did One Caribbean Media.

BuyRatedTable_24thJanCompanies have started releasing results for the final quarter of 2013 and it will be interesting to see how these results impact on the prices of our Buy Rated selections. NCB released their results on Thursday and profit was back on line with the pre-NDX hit in 2013. The company announced an increased dividend payment compared to the first one made in 2013.

Related post | Access moved to Market Watch

Filed Under: Company News, JSE Main Market, Stock Market, TTSE Market Tagged With: ,

JSE: Market closes week down

January 24, 2014 by

Friday, 24th January 2014 | There were 25 securities trading on the last day of the week on the Jamaica Stock Exchange with 8 up in price and 9 down, as 13,543,591 shares changed hands for $79,640,836.

The JSE Market Index fell 134.62 points to 79,636.63, the JSE All Jamaican Composite declined by 204.21 points to close at 81,209.11 and the JSE Junior Market Index advanced by 4.50 points, closing at 779.81.

Caribbean Cement and Knutsford Express traded at new 52 weeks high and Carreras which was the dominant stock in terms of value closed at a 52 weeks low.

Main Market | Trading in the main market took included Cable and Wireless with 2,340,973 shares as the price closed up at 20 cents; Caribbean Cement’s price closed at a new 52 weeks high of $4.60 as 7,200 units changed hands as the price gained 58 cents in the process; Carreras with 1,145,574 shares closing down 50 cents at $34; Jamaica Broilers Group 164,181 units to close at $4.74; Jamaica Money Market Brokers 11,880 shares to close up 39 cents at $7.50; Mayberry Investments lost ground by falling 19 cents, closing at $1.81 with 14,467 shares; National Commercial Bank had little reaction to the quarterly results released on Thursday but 50,500 shares were swapped unchanged at $18 at the close; Scotia Group with 175,418 shares closing firm at $20.50; Seprod lost 20 cents with 729,735 units to close at $10.60 and Supreme Ventures with a big volume of 5,213,039 shed 10 cents to end at $2.30.

Jamaica Money Market Brokers 8.75% preference share traded 804,120 unchanged at $3.

JSEIndicesJan24Junior Market | Junior market trading was spread out with Caribbean Cream having 1,405,820 shares to close at 93 cents; Caribbean Flavours 29,321 units to close at $2.50; Derrimon Trading 45,000 shares, closing at $2.35; Knutsford Express traded for the first time with 1,690 shares to close at $5.12, one cent up on the IPO price; Lasco Distributors 154,941 shares at $1.45; Lasco Financial Services 100,003 units at $1.38; Lasco Manufacturing 24,450 shares at $1.26 and Medical Disposables 52,480 units at $2.10.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had only 8 stocks with bids higher than the last selling prices and 4 stocks with offers that were lower.

Importantly, Proven Investments US dollar based ordinary shares closed with a bid of 15 cents compared with a last sale of 13.3 US cents.

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

Carib Cream making headways but…

January 24, 2014 by

Caribbean Cream, the ice cream maker, is making headways as profits made big jump with an increase of 5,000 percent to reach $11 million in November 2013 quarter, up from only $222,000 after tax in the 2012 November quarter. Profit before tax was $3.9 million in the 2012 but as a recent Junior Stock market listing, the company is not subject to corporate tax in 2013.

The revenue improved 14 percent from $165.5 million to $188.8 million for the November quarter. However, sharp rises in electricity, depreciation, audit and accounting, security and other administrative and interest cost robbed Caribbean Cream of a better bottom line. Nevertheless, the company saw a 186 percent increase in profit before tax for the quarter, and for the 9 months, profit is up 45 percent to $28.7 million compared with $19.8 million in 2012.

Administrative cost rose sharply by 50 percent for the nine months to $80.86 million up from $54 million in 2012. This is of concern as it has risen too fast and has partially eroded the improvement generated in the revenue growth.

Caribbean Cream LtdThe company was able to squeeze more gross profit out of the operations this past year with a margin of 37 percent for the quarter, surging over the 24.7 percent of 2012 and 29.6 percent year-to-date compared to 26 percent for the same period in 2012. The latest quarter revenues reflected the lowest growth rate for the year-to-date with the February and April quarters climbing by 48 percent each and 27 percent for the July quarter.

Impressive as the growth in profit is, earnings per share was only 8 cents for the nine months, which is inadequate to drive interest in the stock even with management’s promise of continued expansion in retail outlets and growth in sales as well as the reduction in production cost due to the installation of new machinery.

Our estimate for earnings for the current fiscal year is 15 cents, and for the next year 50 cents. There is quite some room for the stock to appreciate during this year barring some bad quarterly results.

Related posts | Kremi up, hardly out of the blocks | Caribbean Cream trading on Friday

Filed Under: Company News, Company Results Tagged With:

JSE: Market hit by declining stocks

January 23, 2014 by

Thursday, 23th January 2014 | The Jamaica stock market recorded a negative day with 11 stock declining to 5 advancing on a day with 3,443,891 shares changing hands with a value of $18,691,167.

The negative performance was reflected in the market indices with the JSE Market Index declining by 402.47 points to close at 79,771.25, the JSE All Jamaica Composite fell 610.49 points to 81,413.32 and the JSE Junior Market Index dipped by 10.72 points to 775.31.

Main Market | The main trades included Berger Paints with 445,725 shares to close at unchanged at $1.80; Caribbean Cement 108,345 shares to close at a new 52 weeks high of $4.02 after trading as high as $4.50 during the day; Carreras 14,019                  shares as the price fell $2 to $34.50; Desnoes & Geddes 45,909 shares closing firm at $5; Grace Kennedy 123,716 units down $1 at $55; Hardware & Lumber 17,500 shares as the price eased by $1 to $8; Mayberry Investments 1,223,442 shares at $2; National Commercial Bank 133,900 shares at $18; Sagicor Group 11,117 shares as the price closing at $8.45, off by 4 cents; Scotia Group  66,879 units to close at $20.65, a fall of 35 cents; Seprod was down 20 cents to $10.80 with 107,484 units; Supreme Ventures 78,102 units closing at $2.40 as the price eased by 10 cents.

In the preference share section, Jamaica Money Market Brokers 8.75% traded 350,500 at $3.01.

JSEIndicesJan23Junior Market | The major traded securities include Consolidated Bakeries 100,000 shares falling by 2 cents to $1.17; Lasco Distributors 14,199 units at $1.45; Lasco Financial Services 435,725 up a cent to close at $1.36; Lasco Manufacturing lost 8 cents with 130,998 shares to close at $1.30 and Medical Disposables 11,000 shares at $2.20.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had only 4 stocks with bids higher than the last selling prices and 5 stocks with offers that were lower.

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

JSE: Lots of stocks, few trades

January 22, 2014 by

Wednesday, 22nd January 2014 | The Jamaica Stock Market closed with 62,029,329 shares trading with a value of $450,979,958 but that obscures the level of investors participating as only 19 securities traded.

Stockbroker Victoria Mutual Wealth Management crossed 58,101,405 JMMB shares with a value of $535,179,523 in three lots. The next big trade was National Commercial Bank 524,960 units which closed at $18 with a value of $9,442,945, NCB Capital Market conducted one of the trades of 40,000 units both for the buyer and seller.

Main Market | Other stocks to trade in meaningful volume include Cable & Wireless 2,609,072 to close at 19 cents; Caribbean Cement 202,500 units as the price drifted up 20 cents to close at $4; Grace Kennedy 47,932 shares closing unchanged at $56; Mayberry Investments 22,234 units to close at $2; Scotia Group 22,364 units with the price closing at $21, up 94 cents for the day and Proven Investments 43,900 ordinary shares at 13.3 US cents.

Junior Market | Only 3 stocks traded. General Accident Insurance with 17,134 shares to close at $1.88; Lasco Financial Services  1,500 units at $1.35 and Medical Disposables 422,867 units at $2.20.

JSEIndicesJan22Market Indices | The JSE Market Index advanced by 281.68 points to close at 80,173.72, but was negatively affected by the big capitalisation First Caribbean stock that fell $1. The JSE All Jamaican Composite advanced by 862.88 points to close at 82,023.81 and the JSE Junior Market Index inched up 0.78 points to 786.03.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had only 4 stocks with bids higher than the last selling prices and 5 stocks with offers that were lower.

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

JSE: Trading subdued, Indices mostly up

January 21, 2014 by

Tuesday, 21st January 2014 | The Jamaica Stock Exchange activity continues to be moderate on the second trading day of the week as the price of 9 stocks fell and 9 increased resulting from trades of 7,051,839 units with a value of $13,542,059.

The Junior Market index fell but the others increased with the JSE Market Index advancing 272.66 points to 79,892.04, the JSE All Jamaican Composite gained 413.61 points to close at 81,160.93. The JSE Junior Market Index declined by 10.81 points to close at 785.25.

Main Market | Activity in the main market has been on the light side as the focus seems to be in the junior listings for the time being. In trading, Cable & Wireless exchanged 4,000,000 units at 19 cents; Caribbean Cement 74,149 units closing up 10 cents at $3.80; Carreras 74,152 units, closing firm at $36; Desnoes & Geddes 10,200 shares at $5; Gleaner 210,000 units to close unchanged at $1.10; National Commercial Bank with only 2,940 units as the price gained 79 cents to close at $18; Sagicor Group 12,000 shares closing at $8.49; Sagicor Real Estate X Fund 10,430 shares to close unchanged at $6.50; Salada Foods 5,100 shares, the price gained 70 cents to close at a new 52 weeks high of $10 and Scotia Group 36,117 shares at $20.06, down 44 cents.

JSEIndicesJan21Junior market | The junior market had 14 securities trading, including Eppley 9.5% preference share for only the second time, with 54,000 units at $6; Access Financial 14,000 shares down $1 to $10; Blue Power 341,000 units as the price put on 30 cents to end at $9.80; Caribbean Producers 1,002,000 shares as it fell 5 cents to $2.70; Consolidated Bakeries 46,057 units at $1.19; General Accident Insurance 500,000 at $1.88; KLE Group 56,860 shares at $1; Lasco Distributors 148,134 units at $1.45; Lasco Financial 396,051 units at $1.35 and Medical Disposables, 20,000 units up 7 cents and closed at $2.05.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had only 4 stocks with bids higher than the last selling prices and 7 stocks with offers that were lower.

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

Berger keeps profit gains

January 21, 2014 by

Berger Paints reported continued gains in profit for the current year which ends in March with a 30.7 percent increase for the December quarter and 33.7 percent for the nine months period.

The growth for the period is down on the performance to September last year when profit was up 80 percent for the six months and revenues grew by 12 percent after a 17.8 percent jump in the September quarter. Revenues gained only 6 percent for the December quarter and 9.3 percent year to date. Cost reduction would have facilitated to robust increase in net profit out turn. Profits after tax amounted to $51 million from the quarter versus $39 million in 2012 and $64 million year to date compared to $48 million in 2012 on revenues of $622 million for the quarter and $1.409 billion for the nine months. The information was disclosed in an abridged version of the interim report that provided no details of expenses.

berger_construction-paintingBerger has current assets of $792 million at the end of December and current liabilities of only $149 million with equity capital of $522 million.

After paying a dividend of $27.86 million in July, the company had cash on hand in December amounting to $58 million that is down from $163 million at the end of December 2012 and $130 million at the end of the March 2013, but the cash position is an improvement over the $33 million on hand at the end of September.

A lot of Berger’s fortunes are tied to the buoyancy of the construction sector. The sector had not been performing well since 2008 and that has weighed down on the company’s fortunes. The moderate increase in the monetary value of sales is a reflection of the challenges they face. What has been the major attraction for the stock is the tendency for a high dividend payout that enhances the rate of return on investment for outside investors.

Related posts | Profits up 80% at Berger Jamaica | Economy pressuring Berger

Filed Under: Company News, Company Results Tagged With: ,

JSE: Market down on low volume

January 20, 2014 by

Monday, 20th January 2014 | The main market of the Jamaica Stock Exchange lost ground on the opening trading day of the week as 7 stocks fell in price and 5 increased. There was trading of 1,099,361 units with a value of $10,294,466 with Scotia Group saving the day with 429,788 shares valued at $8.6 million as the price closed at $20.50 and was off by 46 cents.

The JSE Market Index declined by 303.53 points to close at 79,619.38, the JSE All Jamaican Composite lost 460.42 points to end at 80,747.32 while the JSE Junior Market Index put on 1.07 points to close at 796.06.

Main Market | In main market, the main movers for the day was Cable & Wireless with 343,445 shares closing down a cent at 18 cents; Caribbean Cement with only 2,000 units to close at $3.70 for a 29 cents gain; Carreras 4,980 units to close down 50 cents at $36; Desnoes & Geddes 21,374 shares, the price closed up 12 cents to $5.10; Jamaica Broilers 39,383 units at $4.71, down 29 cents; Jamaica Money Market Brokers 41,734 shares to closed unchanged at $7.50; Sagicor Real Estate X Fund 7,707 units closing firm at $6.50 and Supreme Ventures 16,400 shares for a 10 cents gain to end at $2.50.

JSEIndicesJan20Junior Market | The main stocks trading were Access Financial Services with 11400 shares to close at $11, down $1; Blue Power 9,830 units as the price remained unchanged at $9.50; Caribbean Producers 75,700 units to close unchanged at $2.75; Lasco Distributors 11,995 shares unchanged at $1.45; Lasco Financial Services 50,000 unchanged at $1.35 and Lasco Manufacturing 22,000 units at $1.40 up 15 cents.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 9 stocks with bids higher than the last selling prices and 3 stocks with offers that were lower. The junior market has 6 of the stocks closing with bids higher than the last closing price and only 1 with a lower offer.

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

JSE: Lousy trading to end week

January 17, 2014 by

Friday, 17th January 2014 | Only 21 securities traded on the Jamaica Stock Exchange on the last day of the week accounting for a total of 1,644,332 shares with a value of only $2,481,056. Trading concluded with 6 stocks up and 4 down. So bad were things that at one stage after mid-day, only one stock traded in the main market.

The JSE Market Index declined by 304.69 points to close at 79,922.91, the JSE All Jamaican Composite fell 462.19 points to 81,207.74 and the JSE Junior Market Index advanced by 3.15 points to end at 794.99.

Main market trades | The major traded stocks in the main market include Cable & Wireless with 1,029,000 units at 19 cents; Jamaica Producers Group 27,972 units to close at $18.76; National Commercial Bank only 7,270 units but the price closed up 15 cents at $18; Sagicor Group 18,955 units at $8.50; Scotia Group 10,871 units at $20.96, up 91 cents; Scotia Investments only 3,660 units but the price moved up $1.50 to $26.50.

In the preference section, Jamaica Money Market Brokers 7.50% traded 50,000 unchanged at $2 and the 8.75% shares traded 67,600 to close unchanged at $3.

JSEIndicesJan17Junior Market | Most of the trading activity in the morning hours were concentrated around junior market stocks and resulted in Consolidated Bakeries trading 40,900 units at $1.15, down 5 cents; Dolphin Cove 21,470 units at $9; General Accident Insurance 61,000 units at $1.89; Lasco Distributors 137,800 units at $1.45; Lasco Financial Services 77,300 units at $1.35, up 4 cents and Lasco Manufacturing 75,166 units at $1.25, down 5 cents.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 8 stocks with bids higher than the last selling prices and 4 stocks with offers that were lower.

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

C2W Music receives US$21K income

January 17, 2014 by

C2W Music, which has earned virtually no income since it raised funds in an IPO in 2012 is reporting what appears to be a breakthrough in the last quarter of 2013 with royalty collections.

According to the company in a recent release to the stock exchange, “We are proud to announce that during the 4th quarter of 2013, we have started to see royalty driven earnings deriving out of Barbados. These earnings have come out of the exploitation of copyrights and more specifically have been earned through the “Performing Right” collections of radio broadcast. The amount received thus far totalled USD$20,643.”

C2WMusiclogo2“We would also like to add, and as mentioned in a previous press release, that we continue to work closely with all Caribbean performing rights societies in creating proper integration of our systems to show an accurate collection of our royalties from the territory. Other than our own music catalogue, we sub-publish two of the world’s largest music publishers, BMG Chrysalis and Warner Chappell. We are hopeful that our collective efforts would be recognized by the 2nd quarter of 2014 and onwards, resulting in more royalty collections,” a release from the company said.

Related posts | C2W says it’s not dead | Is C2W doomed?

 

Filed Under: Company News, General Business News Tagged With: ,