VM Investments in TOP 10

VM Investments press conference for launch its IPO. from left is Michael McMorris – Chairman of VMBS, Courtney Campbell Group CEO, Devon Barrett CEO of VMIL and Janice McKenley – Group Chief Financial Offer.

Initial Public offerings were all the rage in Jamaica Stock Market this past week, with three IPOS opening and closing during the week all being oversubscribed and one new one coming to market to open on Monday and expected to close on the same day.
The focus on IPOs negatively affected trading in the secondary market with the Junior Market giving up almost all of the gains make in the first half of the year. The week ended with no movement in and out of the TOP 10 Junior Market stocks but VM Investments is a new one in the Main Market list along Pulse Investments that returned with a fall in the stock price during the week, and out goes Wisynco and Sagicor Group.
As indicated last week, the bulk of Wisynco’s gain should come in the latter part of 2018, based on current operations that should deliver earnings of 70 cents for the current year and $1 for the next fiscal as the company continues to recover from the ravages of the fire back in 2016. Much is expected from VM Investments that is priced to bounce well. Investors ought to bear in mind that that has the year closely, they will be changes to the TOP list for 2018, quite a number on the current list are expected to repeat in 2018.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended the week at 7.9 and a PE of 8 for the main market TOP 10. The average PE for the overall main market is 14.1 and 12.6 for the Junior Market, based on 2017 estimated earnings.
At the close of the week, discount for both the main and Junior markets have virtually merged, with the IC Insider.com’s TOP 10 stocks now trading at an average discount of 44 percent to the average of the market for Junior Market Top stocks and 46 percent for the main market.
Market Watch| The two markets retreated sharply over the past two weeks and broken through support levels with some individual stocks pulling back and pushing the market index down markedly, but the main market seems to have found a bottom and may be on the way up now that the major IPOs are closed. The junior market could be going through a consolidation phase for a while, at least that is what the market seems to be suggesting.
Investors should still keep a keen eye on Caribbean Cement for which supply seems to be declining fast, Cable & Wireless that appears scarce under $1, NCB Financial, Berger Paints, JMMB Group, Main Event, Lasco Financial, Paramount Trading and Stationery and Office.

Jam Teas, Blue Power & Wisynco in TOP 10

In a week of big price movements in the market three new stocks moved into the TOP 10 at the close of the last week. Wisynco that IPO debut this week just makes it into the main market TOP 10, suggesting there should be some gains ahead.
The bulk of Wisynco’s gain should come in the latter part of 2018 based on current operations that should deliver earnings of 70 cents for the current year and $1 for the next fiscal. Blue Power slipped in price to re-enter the top Junior Market list while Jamaican Teas rose based on fall in price and estimated earnings for 2018 fiscal year. Out of the TOP 10 Junior Market, are Derrimon Trading and Main Event that rose to $6. Wisynco pushed Pulse Investments out of the main market TOP 10.
At the close of Friday, the average PE ratio for Junior Market Top stocks dropped sharply from 9.2 last week to at 8.1 and a PE at 8.5 for the main market TOP 10. The average PE for the overall main market is 14.3 and 12.9 for Junior Market, based on 2017 estimated earnings.
At the close of the week, discount for both the main and Junior markets have virtually merged, with the IC Insider.com’s TOP 10 stocks now trading at an average discount of 42 percent to the average of the market for Junior Market Top stocks and 43 percent for the main market.
Market Watch| The two markets retreated sharply and broken through support levels with some individual stocks pulling back and pushing the market index down markedly. This week the focus could be on the three IPOs that opening in days.
Investors should still keep a keen eye on Caribbean Cement for which supply seems to be declining fast, Cable & Wireless that appears scarce under $1, NCB Financial, Berger Paints, JMMB Group, Main Event, Lasco Financial, Paramount Trading and Stationery and Office.

Derrimon out Kremi is back in TOP 10

Derrimon Trading reentered the TOP 10 last week but has spent just one week rising during the week from $6.50 to $8 and is replaced by Caribbean Cream, the only new entrant to the TOP list.
Jamaica Broilers slipped to $17.50 during the week and moved to the top of the main market listing with Berger Paints moving to Number 3 position having closed at $16.50 on Friday while Salada Foods rose to $10 and fell to 7th spot.
At the close of Friday, the average PE ratio for Junior Market Top stocks is at 9.2 and a PE at 8.6 for the main market TOP 10. The average PE for the overall main market is 14.7 and 14.4 for Junior Market, based on 2017 estimated earnings.
At the close of the week, IC Insider.com’s TOP 10 stocks now trade at an average discount of 34 percent to the average of the market for Junior Market Top stocks and 42 percent for the main market.
Market Watch| The two markets have retreated to be testing support and some individual stocks seem to be more in a mood for profit taking than wanting to move much higher currently, as such stocks may not gain much during the week ahead, but that is difficult to know. Investors should nevertheless keep a keen eye on Caribbean Cement for which supply seems to be declining fast, Cable & Wireless that appears scarce under $1, NCB Financial, Berger Paints, JMMB Group, Main Event, Lasco Financial, Paramount Trading and Stationery and Office.

Derrimon & Main Event in TOP 10

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Main Event moved into the top list of Junior market stocks along with Derrimon Trading, this week, replacing Jamaican Teas and Caribbean Cream that entered the list last week and Pulse Investments and Sagicor Group are in the Main market listing.
Main Event fell back to $5.50 at the end of the past week, from $5.75, the week before, to reenter the list, while Jamaican Teas came in for some buying that lifted the price slightly, to $4.10, to see it leaving. Radio Jamaica is removed from the list as six months’ results suggest that earnings will be hard pressed to exceed the 6 cents reported for the 2017 fiscal year. Also out is Cable & Wireless, with nine months’ results suggesting lower profit than originally projected for the full year to December.
Derrimon Trading reported net profit for this three months to September from core business, jumping 56 percent to $27 million over the $17.5 million reported for the corresponding period in 2016. The consolidated net profit for the nine months was $132 million, up 22 percent over the corresponding period in 2016. Earnings per share amounted to 48 cents for the nine months and seems on track to end the year at 60 cents.
On Friday Lasco Financial, a former TOP 10 stock, hit a new record high of $6.60 following the reported profit that more than doubled in the September quarter to $100 million and up 63 percent to $167 million for the six months as well as from news of the acquisition of CrediScotia operations.
At the close of Friday, the average PE ratio for Junior Market Top stocks is at 9 and a PE at 8.5 for the main market TOP 10. The average PE for the overall main market is 15 and 14 for Junior Market, based on 2017 estimated earnings.
At the close of the week, IC Insider.com’s TOP 10 stocks now trade at an average discount of 35 percent to the average of the market for Junior Market Top stocks and 43 percent for the main market.
Market Watch| Investors should keep a keen eye for Caribbean Cement, Cable & Wireless that appears scarce under $1, NCB Financial, Berger Paints, JMMB Group, Lasco Financial, Paramount Trading, Derrimon Trading and Stationery and Office.

Kremi & Jamaican Teas in TOP 10

Main Event rose in price and Medical Disposables (Meds) dropped out of the TOP 10 and were replaced by Caribbean Cream and Jamaican Teas.
Main Event rose from $5.50 to $5.75 on Friday, enough to lift them out of the Top list. Earnings at Meds were lowered with the release of the 6 months results with a 21 percent increased sales, in the September quarter but a reduction in profit margin and net profit.
JMMB Group rose from $29.50 to a record close of $30.50 and is sitting at the lower end of the main market list. Grace Kennedy reported good September quarter results, excluding one off gains while Berger Paints‘ six months results show revenues for the September quarter rising 21 percent and profit is up approximately 70 percent when the cost associated with the offer from Ansa Coatings offer is taken out. Berger traded to close on Friday at $15 and is one to watch in the week.
This coming week should see a raft of company results that could shake up the top 10 in both markets. On Friday Lasco Financial, a former TOP 10 stock, reported profit that more than doubled in September quarter to $100 million and up 63 percent to $167 million for the six months. These results could encouraged increased buying in the stock.
At the close of Friday, the average PE ratio for Junior Market Top stocks is at 9.1 and a PE at 7.3 for the main market TOP 10. The average PE for the overall main market trades at 14 and 13.7 for Junior Market, based on 2017 estimated earnings.
At the close of the week, IC Insider.com’s TOP 10 stocks now trade at an average discount of 39 percent to the average of the market for Junior Market Top stocks and 48 percent for the main market.
Market Watch| Investors should keep a keen eye for Caribbean Cement, Cable & Wireless that is expected to post improved profit in the latest quarter from increasing revenues, NCB Financial, Berger Paints, Jamaica Broilers, JMMB Group, Access Financial, General Accident that is expected to benefit from a rise in premium rates, Lasco Financial, Paramount Trading and Stationery and Office.

JSE main market inched higher

Trading on the Main Market of the Jamaica Stock Exchange ended on Friday with 22 securities changing hands, 6 advanced, 8 declined and 8 traded firm with 5,777,201 units valued at $107,680,730 compared to 2,566,192 units valued at $67,621,781 on Thursday.
The JSE All Jamaican Composite Index advanced by 102.47 points to close at 320,729.33, the JSE Index advanced by 93.36 points to close at 292,220.70. The US dollar Equity market lost 6.54 points to close at 169.09 as two securities traded resulting in 29,583 units valued at US$19,957.
Trading ended with an average of 262,600 units for an average of $4,894,579 in contrast to 128,310 units for an average of $3,381,089 on Thursday. The average volume and value for the month to date amounts to 207,395 units valued at $3,425.086 and previously, 199,991 units valued at $3,227,959. In contrast, October closed with average of 1,185,251 units at $16,528,582 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 9 stocks ended with bids higher than their last selling prices and 3 with lower offers.
JMMB Group traded at a 52 weeks’ high and ended $1 up to $30.50 after trading as high as $30.70. Caribbean Cement finished with a loss of $1.99, NCB Financial rose $1.15 to $108, and Seprod climbed $1.99 to $30 while Jamaica Producers traded just over 4 million shares.

Stationery & Office Supplies back in TOP 10

Stationery & Office Supplies back in IC Insider.com TOP 10

There is just one change in and out of the IC Insider.com TOP 10. Lasco Distributors dropped out, resulting from the Judge’s ruling in their claim against Pfizer, suggesting that damages will be substantially lower than the amount claimed.
Lasco is replaced by Stationery and Office Supplies returning after just one week out of the top list. The company should report results for the nine months during the coming week. BUY RATED Caribbean Cement that was expected to exit the top list during the past week remains with the price retreating to close the week at $31 as investors failed to follow through on the pick up in price in the prior week in response to the third quarter results to September. Berger Paints also slipped back, with the price falling from $17 last week to end at $14 this past week, but it traded during the week as high as $18.
At the close of Friday, the average PE ratio for Junior Market Top stocks is at 8.4 and a PE at 7.3 for the main market TOP 10. The average PE for the overall main market At the close of the week, IC Insider.com’s TOP 10 stocks now trade at an average discount of 43 percent to the average of the market for Junior Market Top stocks and 48 percent for the main market.
Market Watch| Investors should keep a keen eye for, Cable & Wireless that is expected to post improved profit in the latest quarter from increasing revenues, NCB Financial, Berger Paints that should release September results early this week, Jamaica Broilers, JMMB Group, Access Financial, General Accident that is expected to benefit from a rise in premium rates, Paramount Trading after the company announced new expansion into chlorine and bleach production and Stationery and Office with September results early this week.

13 stocks fall to push JSE indices down

Trading on the Main and US dollar markets of the Jamaica Stock Exchange finished on Tuesday with 26 securities changing hands, 7 advanced, 13 declined and 6 traded firm as the main market indices dropped.
The market suffered declines of a dollar or more in Grace Kennedy, NCB Financial, PanJam Investment, Sagicor Group, Scotia Group and Seprod.
The JSE All Jamaican Composite Index declined by 2,137.38 points to close at 321,469.52 and is up 54 percent for 2017 to date. The JSE Index declined by 1,947.39 points to close at 292,895.09 and is up 53 percent for the year to date and the US dollar index rose 2.14 points to 185.27, up 12.6 percent for the year so far.
Trading ended with 7,565,517 units valued at $85,572,923 compared to 1,993,979 units valued at $25,589,860 on Monday in the main market. Three securities traded in the US dollar market accounting for 437,702 units for $115,825. The trades brought the total value of trading in both markets to $100,282,636.
The average of 328,936 units changed hands for an average of $3,720,562, in contrast to 99,699 units for an average of $1,279,493 on Monday. The average volume and value for the month to date amounts to 1,185,251 units valued at $16,528,582 and 1,228,254 units valued at $17,171,780, previously. In contrast, September closed with average of $283,480 units at $3,630,990 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the main and US dollar markets shows 11 stocks ended with bids higher than their last selling prices and 3 with lower offers.

Cement to head out of TOP 10

Caribbean Cement increased sales by 14% in Q3 2017.

IC Insider.com BUY RATED Caribbean Cement that showed all the signs of a big pay day is set to break out of the TOP this coming week as investors belated respond to this year’s results.
The company posted earnings of 88 cents for the September quarter, from a 15 percent increase in volume sales and should earn over $3 per share for 2017 and seems set to earn more than $4 in 2018 as it benefits from an upsurge in construction activity that will accelerate next year. The stock climbed to trade at a 52 weeks’ high of $40 on Friday, but closed at $36.10, a strong 33 percent ahead of the close of the previous week. Berger Paints is up 21 percent from last week’s close and is heading higher with very good prospects for increased profits this fiscal year and the next, as construction activity continues to benefit from increased demand, helped by falling interest rates that will make home ownership less costly than before.
Pulse Investments dropped out of the Top tier and Cable and Wireless has returned, the next set of results should help to move this stock higher. The Junior Market saw one change with Main Event entering, just edging out Stationery and Office Supplies.
The main market enjoyed the fourth consecutive weekly record close, driving the All Jamaica Composite Index to a record 321,000.17. The market is well clear of resistance around 300,000 points on the all Jamaica Index and continues heading to the next major resistance at the 360,000 points range, on its way to the 500,000 points mark in 2018.
At the close of Friday, the average PE ratio for Junior Market Top stocks is at 8.3 and a PE at 8 for the main market TOP 10. The average PE for the overall main market trades at 14.2 and 13.8 for Junior Market, based on 2017 estimated earnings.
At the close of the week, IC Insider.com’s TOP 10 stocks now trade at an average discount of 40 percent to the average of the market for Junior Market Top stocks and 44 percent for the main market.
Market Watch| Investors should keep a keen eye for Caribbean Cement, Cable & Wireless, NCB, Berger Paints, Jamaica Broilers, JMMB Group, Access Financial, General Accident, Paramount Trading and Stationery and Office.

NCB jumps TOP 10

NCB Financial Group closed at a record $107 on Friday.

 NCB Financial returned to the main market list last week, but with a jump of $16 to $107 during the week, it ii no longer in the top list.
Barita Investments traded up to $9 and is now out of the listing. Pulse Investments and Seprod replaced NCB and Barita as the main market of the Jamaica Stock Exchange closed at new record high on Friday, the third consecutive week of record close, driving the All Jamaica Composite Index 313,990.54.
While the main market is making new highs, with gains of 49 percent for 2017, the junior market with gains of just 12 percent at the end of the previous week is now up 17 percent as the market moved higher for the past week helped by strong results by Paramount Trading, Express Catering and increased buying of Stationery and Office Supplies that pushed the price to $5.50 to sit at 10th spot and could well be off the list by the end of the coming week.
The Junior Market list had no movement in or out in the past week. Trading in Berger Paints shares recommenced on Tuesday, after just 6.6 million units were sold by investors in response to the buyout offer by Ansa Coatings at $10.88 per share with the price closing at $14 on Friday and seemingly poised to rise further during the coming week as investors attempted to trade it at $17 which was outside the daily price limit of 30 percent above the last price. The stock has much room to climb, with the March 2018 full year’s earnings that should hit $2.30 per share.
The main market blast well clear of resistance around 300,000 points on the all Jamaica Index and heading much higher to the next major resistance at the 360,000 points range.
At the close of Friday, the average PE ratio for the Junior Market Top stocks is at 8.1 and a PE at 7.5 for the main market TOP 10. The average PE for the overall main market trades at 13.9 and 13.8 for Junior Market, based on 2017 estimated earnings.
At the close of the week, IC Insider.com’s TOP 10 stocks now trade at an average discount of 41 percent to the average of the market for Junior Market Top stocks and 45 percent for the main market.
Market Watch| Investors should keep a keen eye for NCB, Berger, Jamaica Broiler, General Accident, Paramount Trading and Stationery and Office.