Market activity ended on Monday and resulted in 148 percent more shares, trading with a 40 percent lower value than Friday, at the close of the Trinidad and Tobago Stock Exchange and declines in the Market indices.
Total of 20 security traded compared to 18 on Friday, with five stocks rising, six declining and nine remaining unchanged.
The Composite Index declined 6.99 points to 1,510.74, the All T&T Index dropped 14.01 points to 2,115.86 and the Cross-Listed Index increased 0.07 points to settle at 120.98.
A total of 1,261,114 shares traded for $12,778,705 compared to 509,189 units at $21,201,944 on Friday. An average of 63,056 units traded at $638,935 compared to 28,288 shares at $1,177,886 on the previous day, with trading month to date averaging 52,500 units at $599,010 versus 51,229 units at $594,199. The average trade for January amounts to 39,943 units at $369,498.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and two stocks with lower offers.
At the close, Agostini’s finished at $46 in an exchange of 3,791 shares, Angostura Holdings gained $1.25 in closing at $19.75 after trading 4,541 stocks, Ansa McAl shed $1.99 in ending at $57 trading 18,844 units. Ansa Merchant Bank dropped $4.59 to $40.41 with 12,374 stock units changing hands, CinemaOne ended unchanged at $3.95 trading 12 shares, Clico Investment Fund remained at $31.50 with 33,739 units crossing the market. FirstCaribbean International Bank fell 2 cents to end at $6.12 exchanging 1,000 stock units, GraceKennedy inched 1 cent higher to $5.86 after 458 stocks crossed the market, Guardian Holdings remained at $30 with the swapping of 1,000 stocks. JMMB Group declined 1 cent to close at $2.30, with 225,217 stock units crossing the exchange, Massy Holdings ended at $106 after 25,983 shares passed through the market, National Enterprises finished at $3.25 in exchanging 1,000 units. National Flour Mills rallied 2 cents to $1.93 after 3,000 shares changed hands, NCB Financial Group closed at $8 with an exchange of 233,921 stock units, Point Lisas ended unchanged at $3.27 while exchanging 663,032 stocks. Prestige Holdings rose 5 cents to $7.05 in trading 8,529 units, Republic Financial Holdings closed at $140 after an exchange of 14,300 stocks, Scotiabank climbed 97 cents ending at $72.98 trading 4,012 shares. Trinidad & Tobago NGL lost 25 cents to close at $21.75, with 5,311 stock units changing hands and West Indian Tobacco shed 98 cents to end at a 52 weeks’ low of $25.02 with the swapping of 1,050 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Drop in Trinidad Stock Exchange share value
Several changes for ICTOP10 listings
Increased buying interest coupled with the release of new results created many changes for the ICTOP10 listings this week. Tropical Battery came from nowhere, with stunning first quarter results to December, with profits surging from just $19 million in 2020 to $56.7 million as revenues surged 46.8 percent to $662 million and investors reacted to it right out of the block driving the price up 18 percent for the day.
Even with an 18 percent rise in the stock price, Tropical moved right to the top of the Junior Market TOP10 stocks with the potential to double in price. Medical Disposables price slipped with the stock now back in the TOP 10 and so did Access Financial while Cargo Handlers joins the TOP10 in fifth position.
Moving out of the TOP10 are Lasco Financial that was boosted by rising profits and enjoyed a 19 percent bounce in the price for the week and Jetcon Corporation. Lasco Manufacturing (Lasm) price rose 2 percent but the company posted good results that suggest a much higher stock price ahead and Stationery & Office Supplies (SOS) had a 24 percent rise to $7.31 as increased buying interest came in for the stock. Both stocks remain in the 2022 ICTOP15 list, with SOS in at the 6th spot and LASM at 11.
The Junior Market index upward move slowed this past week with year to date gains moving from 16.3 percent last week to 17.1 percent to Friday, this week. The Main Market seems to be bubbling with the market index up more than 7,700 points for February and is worth watching.
Recently listed Spur Tree Spices continues to consolidate around the $3 price level while, Future Energy, surged this past week to an all-time high of $5.20, on profit results that rose strongly in the December quarter at PE of 50, the price seems well ahead of the market.
Other decent moves in the Junior Market this past week are Caribbean Assurance Brokers that closed at $3.28 for a rise of 6 percent, General Accident moved up 4 percent to $6.76, AMG Packaging lost 6 percent to end at $3.48 and Honey Bun slipped 4 percent to $9.70.
In the Main Market, Jamaica Broilers rose 13 percent to $30.50, while Proven Investments and VM Investments both rose 8 percent for the week. Radio Jamaica released results for the nine months to December, with a slight reduction of 2.5 percent in revenues or $35 million leading to a fall in profit from $194 million in the December quarter to $108 million and Jamaica Broilers were replaced in the TOP10 by Berger Paints and Carreras.
The sharp price movements in the Junior Market over recent weeks reduced the potential gains markedly, with the average increase projected for the TOP 10 Junior Market stocks now at 105 percent and is now lower than the Main Market at 122 percent. The top three stocks in the Junior Market are Tropical Battery followed by Caribbean Assurance Brokers and Lasco Distributors to gain between 111 and 124 percent, compared to 114 and 126 percent, previously.
The potential gains for Main Market stocks moved from 123 percent to this weeks’ 122 percent, with the top three being JMMB Group followed by Guardian Holdings and Sygnus Credit Investments all projected to gain between 161 and 186 percent versus 165 and 186 percent last week.
After trading at a big discount to the Main Market for two years, the average PE for Junior Market has moved to 17.8 based on ICInsider.com’s 2021-22 earnings and is ahead of the JSE Main Market at 16.4. In the process, the Junior Market has surpassed the average of 17 that was achieved at the end of March last year. The TOP 10 stocks trade at a PE of a mere 9.8, with a 45 percent discount to that market’s average. That means there is a lot of room for the TOP10 stocks to run between now and the end of March.
All the stocks in the Junior Market can gain 12 percent to March this year, based on an average PE of 20 that would take the index to 4,700 points. About a third of Junior Market stocks with positive earnings are trading at or above this level, averaging around 23.
The average PE for the JSE Main Market is 17.4 just 9 percent less than the PE of 19 at the end of March and 15 percent below the target of 20 to March this year. The Main Market TOP 10 average PE is 9.2 representing a 47 percent discount to the market and well below the potential of 20. Around 15 stocks or 30 percent of the market trade at or above a PE of 19, with most over 20, for an average roundabout 25, suggesting that the accepted multiple is between 20 and 25 times the current year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios 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 per share 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 up on JSE USD market
Trading on Friday, ended with the volume of shares changing hands rising 88 percent but with a 49 percent fall in value compared to Thursday, at the close of the Jamaica Stock Exchange US dollar market.
A total of five securities traded down from seven on Thursday with one rising, two declining and two ending unchanged.
The JSE US Denominated Equities Index dipped 0.81 points to end at 203.99.
The PE Ratio, a measure used in computing appropriate stock values, averages 13.6. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years, up to August 2022.
Overall, 1,211,422 shares traded for US$27,433 compared to 643,585 units at US$54,243 on Thursday.
Trading averaged 242,284 units at US$5,487 compared to 91,941 shares at US$7,749 on Thursday and month to date an average of 96,300 shares at US$4,371 versus 81,988 units at US$4,261 on the previous day. January ended with an average of 91,572 units for US$7,142.
Investor’s Choice bid-offer indicator shows no stock closed trading with a bid higher than the last selling price and none with a lower offer.
At the close, First Rock Capital USD share climbed 0.1 of a cent in ending at 7 US cents after an exchange of 263,740 shares, Proven Investments ended at 22.95 US cents trading 4,554 stocks, Sygnus Credit Investments USD share slipped 1.04 cents to 11.89 US cents after 1,000 units changed hands and Transjamaican Highway dropped half of a cent to 0.8 of a US cent while exchanging 942,124 stock units.
In the preference segment, JMMB Group 5.75% ended unchanged at US$2.09 with four shares crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading surges for Trinidad stocks
Market activity ended on Friday and resulted in four times more stocks rising than falling, after trading 108 percent more shares, with 343 percent higher value than on Thursday, at the close of the Trinidad and Tobago Stock Exchange.
A total of 18 securities traded versus 17 on Thursday, with eight rising, two declining and eight ending unchanged. The Composite Index dipped 0.20 points to 1,517.73, the All T&T Index lost 0.79 points to end at 2,129.87 and the Cross-Listed Index popped 0.06 points to settle at 120.91.
A total of 509,189 shares traded for $21,200,944 compared to 244,481 units at $4,785,196 on Thursday.
An average of 28,288 units traded at $1,177,886 up from 14,381 shares at $281,482 on Thursday, with trading month to date averaging 51,229 units at $594,199 versus 54,019 units at $523,211. The average trade for January amounts to 39,943 units at $369,498.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, Agostini’s ended at $46 trading 3,798 shares, Calypso Macro Investment Fund remained at $16.85 with an exchange of 45 stock units, CinemaOne lost 5 cents in ending at $3.95 after switching ownership of 400 units. Clico Investment Fund advanced $2.39 to $31.50 while exchanging 63,407 stocks, First Citizens Group ended unchanged at $64.49 with 7,437 units changing hands, Guardian Holdings ended unchanged at $30 in an exchange of 25,000 shares. Guardian Media rose 5 cents to $3.15 after 780 stocks crossed the market, JMMB Group added 1 cent to close at $2.31 trading 10,000 stock units, L.J. Williams B share popped 11 cents in closing at a 52 weeks’ high of $1.95 after exchanging 4,663 units. Massy Holdings inched 1 cent higher to $106, with 39,238 shares changing hands, NCB Financial Group remained at $8 in exchanging 139,819 stock units, Point Lisas finished at $3.27, with 3,605 stocks clearing the market. Republic Financial Holdings declined $3.50 to $140 trading 63,068 stocks, Scotiabank rallied 1 cent to end at $72.01 after exchanging 8,601 shares, Trinidad & Tobago NGL increased $1 in closing at a 52 weeks’ high of $22 with the swapping of 90,044 stock units. Trinidad Cement finished at $3.80 with 12,897 units changing hands, Unilever Caribbean popped 10 cents to $16 in trading 81 units and West Indian Tobacco ended unchanged at $26 after 36,306 stocks were traded.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Gains for JSE USD Market
Trading on Thursday ended with the volume of shares changing hands rising 29 percent more with 58 percent higher value than on Wednesday, at the close of the Jamaica Stock Exchange US dollar market and resulting in the majority of stocks rising.
Trading ended with seven securities changing hands, up from four on Wednesday with prices of five rising and two declining.
The JSE US Denominated Equities Index climbed 6.32 points to 204.80. The PE Ratio, a measure used in computing appropriate stock values, averages 13.8. The PE ratio uses ICInsider.com earnings forecasts for companies with the financial year up to August 2022.
Overall, 643,585 shares traded, for US$54,243 compared to 498,081 units at US$34,261 on Wednesday. Trading averaged 91,941 units at US$7,749, compared to 124,520 shares at US$8,565 on Wednesday and month to date averages 81,988 shares at US$4,261 versus 80,405 units at US$3,706 on the previous day. January ended with an average of 91,572 units for US$7,142.
Investor’s Choice bid-offer indicator shows no stock ended with a bid higher than their last selling prices and one with a lower offer.
At the close, First Rock Capital USD share fell 0.09 of a cent to end at 6.9 US cents, with 16,345 shares clearing the market, Margaritaville popped 2 cents in closing at 24 US cents after switching ownership of one stock unit, Proven Investments advanced 0.02 of a cent in ending at 22.95 US cents exchanging 108,180 stock units. Sterling Investments shed 0.06 of a cent to close at 2.25 US cents with the swapping of 7,824 units, Sygnus Credit Investments USD share gained 0.93 of one cent to 12.93 US cents, with 15,250 units changing hands and Transjamaican Highway rose 0.05 of a cent in closing at 0.85 of one US cent after 485,400 stocks crossed the market.
In the preference segment, JMMB Group 5.75% rallied 7 cents to US$2.09 in exchanging 10,585 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading jumps on TTSE on Wednesday
Trading on the Trinidad and Tobago Stock Exchange on Wednesday resulted in an exchange of 90 percent more shares, with 169 percent higher value than on Tuesday and ended with more stocks declining than rising at the close.
A total of 20 securities traded compared to 19 on Tuesday, with five rising, eight declining and seven remaining unchanged. The Composite Index slipped 0.33 points to 1,518.84, the All T&T Index dipped 2.14 points to 2,126.68 and the Cross-Listed Index gained 0.22 points to end at 121.71.
A total of 595,593 shares traded for $12,852,172 compared to 313,686 units at $4,784,210 on Tuesday. An average of 29,780 units traded at $642,609 compared to 16,510 shares at $251,801 on Tuesday, with trading month to date averaging 59,162 units at $554,674 versus 64,457 units at $538,719. The average trade for January amounts to 39,943 units at $369,498.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and none with a lower offer.
At the close, Agostini’s ended unchanged at $46 trading 900 shares, Angostura Holdings shed $1.50 to end at $18.50 while exchanging 1,002 units, Clico Investment Fund gained $1.30 to close at $31.30 with the swapping of 63,431 stocks. First Citizens Group fell 4 cents to $64.45 after an exchange of 19 stock units, GraceKennedy rallied 34 cents to $6.16, with 96 stock units clearing the market, Guardian Holdings fell 1 cent to $29.75 in an exchange of 10,000 stocks. JMMB Group dropped 20 cents to close at $2.30 trading 100 shares, L.J. Williams B share remained at $1.84 after exchanging 15,000 units, Massy Holdings rose 1 cent to $106, with 24,363 shares crossing the market. National Flour Mills finished at $1.87 in exchanging 400 stocks, NCB Financial Group remained at $8 after 239,394 units crossed the exchange, One Caribbean Media finished at $4.15 in exchanging 1,688 stock units. Point Lisas ended unchanged at $3.27 in trading 2,000 shares, Prestige Holdings ended at $7 after 5,395 stocks changed hands, Republic Financial Holdings advanced 64 cents to close at $143.50 with an exchange of 236 stock units. Scotiabank lost 1 cent in ending at $72 after switching ownership of 14,447 units, Trinidad & Tobago NGL popped $1.75 to close at $21 with 94,332 units crossing the market, Trinidad Cement declined 10 cents to $3.80 with 7,500 stocks changing hands. Unilever Caribbean lost 10 cents to end at $15.90 in trading 3,955 shares and West Indian Tobacco dropped 6 cents in closing at 52 weeks’ low of $26, with 111,335 stock units crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.