12 up 12 down on JSE Wednesday
The JSE Market Index lost 137.06 points to 97,315.35, the JSE All Jamaican Composite index declining by 153.20 points to close at 107,711.34 but the JSE combined index declined 273.13 points to end at 99,982.34.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 9 stocks with bids higher than their last selling prices and 8 with offers that were lower.
In trading, Caribbean Cement closed with 38,245 shares changing hands at $5.50, Carreras traded 12,000 shares but closed with a loss of $2.15 at $48.35, Desnoes & Geddes lost 45 cents in trading 21,600 shares to close at $7.55. Gleaner ended with 13,645 shares changing hands but gained 8 cents at the close to $1.08, Grace Kennedy had 26,700 units changing hands and fell 50 cents to $63.50, Jamaica Broilers remained firm in trading 94,000 units to end at $6. Jamaica Stock Exchange in trading 17,135 shares ended with a gain of 1 cent at $6.81, at the close Stocks and Securities offered 982,865 units for sale at $6.80. Kingston Wharves traded 12,229 shares in closing at $7. The stock traded at a 52 weeks’ intraday high of $7.01, Mayberry Investments traded 123,703 shares to dip 7 cents at $2.53, National Commercial Bank declined by just 1 cents in trading 144,522 shares to close at $29, Proven Investments traded 117,000 shares to close at 21.5 US cents up from the closing price of 19.01 US cents on Tuesday. Sagicor Group fell 10 cents with 1,510,308 units trading to end at $12.85, Sagicor Real Estate Fund closed 1 cent down at $8 after 11,625 shares were exchanged and Scotia Group had 156,455 units trading 25 cents higher at $23.50.
Undervalued Caribbean Flavours
The company seems poised to hit earnings of 65 cents per share for the June 2015 financial year, making it attractive for some short-term gains with the current price of $2.09 at a PE ratio of 3 times earnings, having earned 19 cents per share for the quarter and 43 cents for the nine months, to March 2015.
Caribbean Flavours & Fragrances enjoyed a moderate increase of 16 percent in profit for the March 2015 quarter over the similar period in 2014. The increase was helped by an improvement in gross profit margin that moved from 39.6 percent to 44 percent. Profit came in at $17.3 million for the quarter versus $15 million in the similar period in 2014. For the nine months to March, profit declined slightly from $39.7 million in 2014 to $38.9 million.
Sales were up moderately in the quarter from $62.8 million in 2014 to $67 million. For the nine months to March sales grew 11.7 percent to $210.6 million from $188.6 million but cost of sales rose faster than the growth in revenues from $111.7 million to $133.5 million in the nine months or 18.75 percent. Administrative cost increased 21 percent in the quarter, and just 2 percent for the nine months, vastly better than the high double-digit increase in the prior year. The return on average equity an attractive 33.5 percent per annum. The negative is that for its small size there is limited growth from existing operations.
The balance sheet is in a healthy state with equity of $195 million or $2.17 per share. There are no borrowed funds while current assets is $210 million versus payables of only $16 million.
The principal activity of the company is the manufacture of and distribution of flavours mainly for the beverage, baking and confectionery industries. The company also sells food colouring and fragrances.The stock is listed on the Jamaica Stock Exchange junior market and is recommended as a buy by IC Insider.
JSE inches up on Monday
TheJSE Market Index gained 71.71 points to 96,599.90, the JSE All Jamaican Composite index rose 80.16 points to close at 106,911.66 and the JSE combined index gained 34.45 points to end at 99,265.14.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 15 stocks with bids higher than their last selling prices and 7 with offers that were lower.
Stocks trading include, Cable & Wireless traded 830,959 units at 44 cents, Caribbean Cement ended with 42,304 shares changing hands at $4.99 after gaining 14 cents. Carreras closed with 47,127 stocks units trading and lost 93 cents at $48.07, Desnoes & Geddes gained 45 cents with just 1,404 units trading, to end at $8, Grace Kennedy had 3,560 shares changing hands after losing 5 cents to end at $63.90. Hardware & Lumber traded 20,000 stocks units with a loss of $1 to close at $18. Jamaica Broilers traded 250,000 shares at $5.50 after shedding 25 cents, Jamaica Stock Exchange traded 9,331 shares to close unchanged at $6.35, JMMB Group closed with 23,587 shares changing hands at $7.45 for a 15 rise, Mayberry Investments had 11,195 units changing hands at $2.88, National Commercial Bank traded 48,527 units to close at $30, after gaining 50 cents. Pulse Investments had 306,000 shares trading at a 52 weeks’ high of 55 cents, to record a gain of 10 cents. Radio Jamaica traded 25,185 stocks units with a loss of 1 cent, to close at $3, Sagicor Group traded 776,521 shares to close at a 52 weeks’ high of $12.60, after putting on 54 cents, Scotia Group ended with 14,717 shares trading unchanged at $23.10. Seprod ended with 19,041 shares changing hands at $15.45 for a gain of 7 cents, Jamaica Money Market Brokers 7.50% preference share traded 435,206 units at $2 and Jamaica Money Market Brokers 8.75% preference share traded 324,497 units at $3.
138 Student Living big trades
On a day the junior market reached a new all-time high with 7 stocks advancing and none losing, with 4 stocks closing at new highs, the main market slipped, with only 3 stocks advancing with all losses coming from this market. The markets closed with the prices of 10 stocks rising, 11 declining as 31 securities changed hands, ending in 28,982,879 units trading, valued at $131,346,625, and 7 new 52 weeks’ highs and 1 new low, in all market segments
TheJSE Market Index lost 310.43 points to 97,890.06, the JSE All Jamaican Composite index fell 346.98 points to close at and the 108,353.72 JSE combined index dropped 220.38 points to end at 100,762.69.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 9 stocks with bids higher than their last selling prices and 8 with offers that were lower. The junior market that recorded all gains showed weakness at the end with 5 stocks closing with lower offers than the last sale and only 2 with bids that were higher.
Stocks trading include, Cable & Wireless with 645,332 shares changing hands with a loss of 1 cent to close at 44 cents. Desnoes & Geddes closing with 870,000 stock units trading at $8, Grace Kennedy had 10,000 shares changing hands at $63.90 to lose 1 cent, Hardware & Lumber closed with 7,147 shares trading to end with a gain of $1 at a new 52 weeks’ high of $19. Investors continue to react to Jamaica Stock Exchange big jump in profits and announcement of a 53 cents dividend as they snapped up the 50,000 stock units on sale and still wanted more with bids at $6.00 to $6.55 to buy 162,000 units. The stock gained 25 cents for the day and closed at $6. JMMB Group saw 179,100 shares trading, to close at $7.26, down 24 cents, 138 Student Living traded 12,202,200 stock units and lost 40 cents to end at $4. Sagicor Group had 16,457 shares trading with a gain of 24 cents to end at a new 52 weeks’ high of $12.30, the stock closed with a bid of $13.20 to buy 1,000 shares, posted at 12:24 pm on Wednesday. Sagicor Real Estate Fund traded 63,800 stock units at $7.60, Scotia Group had 31,000 shares trading, to close with a 10 cents loss at $24.40, Scotia Investments fell $3.57 with 6,300 stock units trading, to end at $26.28. Seprod lost 50 cents with 6,888 shares trading, to close at $15.49, Proven Investments traded 229,035 stock units at 21 US cents, Jamaica Money Market Brokers 7.50% preference share trading 1,401,000 units at $2.03 while 138 Student Living preference share traded 12,000,000 units at $5 and Proven Investments 8% preference share traded 42,955 units at $5.
JSE closes down on Monday
TheJSE Market Index lost 299.63 points to 97,788.91, theJSE All Jamaican Composite index fell 334.90 points to close at 108,240.66 and the JSE combined index declined 285.04 points to end at 100,463.91.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 10 stocks with bids higher than their last selling prices and 6 with offers that were lower.
Stocks trading include, Cable & Wireless had 380,130 units trading and closed at 43 cents, Carreras with 4,067,804 shares at mostly $50, to shed $1 from Friday’s close. Desnoes & Geddes gained 5 cents while trading 37,000 units to close at $7.55, Hardware & Lumber traded 111,500 shares at $18, Jamaica Broilers with 218,900 shares at $5.50, JMMB Group 85,992 shares after slipping 30 cents to $7.50, the Jamaica Stock Exchange traded 16,000 shares to close at $5. The directors of the JSE met during the day and declared a dividend of 53 cents per shares to be paid in July. Mayberry Investments ended with 267,075 units at $3, National Commercial Bank closed with 113,100 units trading at $29. At the close NCB had 17 offers to sell 818,742 shares at $30 each and 4 bids amounting to 704,000 units to buy between $29.02 and $28, thereafter, meaningful bids are at $26.50. Pan Jamaican Investment had just 1,285 units trading at a new 52 weeks’ high of $62, after gaining $1.45, Scotia Group had 612,697 shares changing hands to close at $25.51 and Jamaica Money Market Brokers 7.50% preference share traded 561,800 units and ended at $2.30.
JSE struggles to break out
Trading in the market resulted in the prices of 10 stocks rising, 8 declining as 31 securities changed hands, ending in 4,581,896 units trading, valued at $24,655,549, in all market segments and 3 stocks closed a new 52 weeks’ high, in all market segments. The main market of the JSE Market Index lost 1,163.43 points to 98,088.54, theJSE All Jamaican Composite index fell 1,300.42 points to close at 108,575.56 and the JSE combined index dropped by 1,097.94 points to end at 100,748.95.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 12 stocks with bids higher than their last selling prices and just 2 with offers that were lower. The indications from pass comparisons with the next day actual performance suggests that the numbers of stocks likely to rise on the next trading day will be close to the number of higher bids but the negatives number could end being 2 to 4 times the above lower bids.
In trading, Cable & Wireless continues to shed cents from the stock price as it traded 105,232 shares, to end at 43 cents 2 cents down. Caribbean Cement had just 10,000 shares trading, but it lost 20 cents to close at $4.80, Carreras had just 3,200 units changing hands at $1 higher to $51, Jamaica Stock Exchange had 15,850 units changing hands for 5 cents more to reach a new 52 weeks closing high of $5.05 as the board of the company meets on Monday coming, to declare a dividend. National Commercial Bank lost 60 cents while trading 131,412 units to end at $29, Sagicor Group finished with 25,900 shares to close at $12, Proven Investments traded a good volume of 368,945 shares to close at 21 US cents, but finished with the bid at US 22 cents for a hand full of shares. If the stock should trade at this level the valuation would be a PE ratio of 48 times ongoing earnings, well above any other stock on the exchange. Jamaica Money Market Brokers 7.25% preference share trading 1.8 million units and the 8.75% preference share ending with 999,225 shares.
JSE records gains as 12 stock rose
The JSE Market Index rose by 850.14 points to 99,251.97, the JSE All Jamaican Composite index rose 950.23 points to close at 109,875.98 and the JSE combined index gained 909.48 points to end at 101,846.89.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 11 stocks with bids higher than their last selling prices and 4 with offers that were lower.
After two hours of trading on Thursday there was heavy trading in a number of stocks. The big trades for the day are Caribbean Cement with 4,504,011 shares to close at $4.80, the vast majority traded at $5. Carreras traded 528,878 units to end at $50, Jamaica Broilers with 3,019,120 shares changing hands, closed at $5.50, Scotia Group traded 1,103,300 shares with the price closing unchanged at $25.50 as Scotia Investment bought most of those to trade. Supreme Ventures had 8,559,749 shares traded to end at $3.50, down 25 cents and Jamaica Money Market Brokers 7.50% preference share traded 836,000 units with a gain of 19 cents to end at $2.30.
Elsewhere in the market, Jamaica Stock Exchange traded 21,150 units to end with a gain of 20 cents to a new closing high of $5. National Commercial Bank with 248,135 shares closed at $29.60 to end with a 5 cents gain, Pan Jamaican Investment traded 5,678 shares to close 3 cents higher at a new 52 weeks high of $60.55, Pulse Investments traded 300,000 units at 45 cents, to gain 9 cents for a new 52 weeks high. Sagicor Group had 388,585 shares trading to close at $12, Sagicor Real Estate Fund traded 418,797 shares at $7.60, up 50 cents on the day, Scotia Investments exchanged 20,028 shares to close at $26.28 and Proven Investments traded 146,255 shares at 21 US cents.
Main market slips junior up
TheJSE Market Index fell 547.63 points to 99,126.83, theJSE All Jamaican Composite index lost 612.11 points to close at 109,736.10 and the JSE combined index lost 485.94 points to end at 101,383.99 and the junior market index rose 3.35 to 874.63.Thirty three securities traded up to 11 am, including 12 junior market stocks, with Cargo Handlers trading 205,972 units at a new high of $22.29 as Mayberry Investments crossed the shares from their in house inventory to a client. Four new 52 weeks’ highs have been recorded, Hardware & Limber at $19, Jamaica Stock Exchange at $4.80, Cargo Handlers at $22.29 and Derrimon preference shares trading at $2.50.
The preference shares section was active with 4 securities trading as investors seek higher yielding investments.