Sagicor Group out of TOP 10 stocks

Sagicor Group profit climbed just 7% for 2017.

Sagicor Group out of TOP 10 stocks this past week as the price jumped to $42 and is replaced by Salada Foods and are the only two major change to the TOP 10 listings this week.
Other changes of note were the rise in price of Berger Paints to $22 from $19 at the end of the previous week, Caribbean Cement move to $38.60 from $36.50 and Barita Investments moving to $10.49, more importantly, selling by investors dried up towards the end of the week. Most importantly, the main market continues to hit new record highs during the week and ending the week at a record high level with signs of more gains during the coming week as more company results are released this week and the effect of falling interest rates and a stable Jamaican dollar playing big roles in increasing interest in the market.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 6 compared to an average PE for the overall main market of 10 based on 2018 estimated earnings. The main market PE is 7.3 for the top stocks, compared to a market average of 13.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 40 percent to the average for the Junior Market Top stocks but it’s a third of what the average PE for the year is likely to be of 20 times earnings and main market stocks traded at a discount of 44 percent to the market.
The Stocks to Watch this week are Stationery and Office Supplies that should release first quarter results early this week with profits that could double over the 2017 first quarter. It should be interesting to see how investors treat with the lack of supplies for Barita and Berger while Palace could jump in price with continued success of movies now being shown. NCB Financial could be another interesting stock to watch.

Fake Avenger promto

The popularity of the Palace Amusement’s the Avengers Infinity War, now showing on the company’s cinema circuit has elicited some fictitious email now in circulation offering members of the public the chance to win free tickets to the blockbuster, Avengers showing.
Palace Amusement has advised via a press release that they are conducting no such promotion and urges members of the public to be smart and aware when using the internet for their own safety and security, accordingly patrons should be an the alert to emails inviting persons to answer questions in order to participate.
The Avenger is another big movie for Palace who continues to show Black Panther now in its third month of showing.

Deadliest showdown of all time – Avengers

An unprecedented cinematic journey, ten years in the making and spanning the entire Marvel Cinematic Universe, Marvel Studios’ Avengers: Infinity War brings to the screen the ultimate, deadliest showdown of all time.
Iron Man, Thor, Black Panther, Spider Man, Hulk and the rest of the Avengers unite to battle their most powerful enemy yet – the evil Thanos. As the Avengers and their allies have continued to protect the world from threats too large for any one hero to handle, a new danger has emerged from the cosmic shadows, that challenges the entire team. A despot of intergalactic infamy, his goal is to collect all six Infinity Stones, artifacts of unimaginable power, and use them to inflict his twisted will on all of reality. Everything the Avengers have fought for has led up to this moment – the fate of Earth and existence itself has never been more uncertain. This intense and highly anticipated film features an all-star line up with Academy Award® nominees; Robert Downey Junior (Iron Man), Don Cheadle (War Machine) and Denedict Cumberbatch (Dr. Strange). They are joined by Chris Hemsworth (Thor), Mark Ruffalo (Hulk), Chris Evans (Captain America) Tom Holland (Spider Man) and Golden Globe® Award winner Tom Hiddleston (Loki). The film is produced by Marvel Studios and distributed by Walt Disney Studios Motion Pictures. Avengers: Infinity War is the sequel to 2012’s The Avengers and 2015’s Avengers: Age of Ultron, and the nineteenth film in the Marvel Cinematic Universe (MCU).

Grace & FosRich in TOP 10 stocks

Grace Kennedy is in TOP 10

Out go Palace Amusement and Lasco Financial, in comes Grace Kennedy and FosRich Group into the TOP 10 listings this week.
Lasco Financial climbed to $5.65 at the end of last week while the bid on Palace climbed to $1,000 thus leaving room for Grace Kennedy and FosRich that fell to $2.35, to enter, in a week that saw the main market trading in record territory and the Junior Market recording gains in the index for the week.
The next two weeks should set the tone for the market in the medium term as most companies will be releasing results for the March quarter. Based on early releases, only a handful of results have positive effect on prices. The latest results from Supreme Ventures with a 49 percent rise in the first quarter profit seems set to push the price higher.
Investors responded positively to Berger Paints prospects, with active supply below $20 per share having declined sharply, leaving the price to close the week at $19.
Buying continued for Barita Investments with the price hitting $10 during the week. JMMB Group pulled back by the end of the week to $26.98 from $28.32, as the block out period for insiders to trade in the stock is in place until full year results are out. Resistance for the stock price is just over $31 an area investors should be on the lookout for, in the short run. Caribbean Cement first quarter profit was slightly down on last year, but the company is set to do better in the June quarter with the buyout of the expensive lease of equipment and prospects of lower operating cost, with the major repairs behind them and increasing demand for cement likely, ahead of the 6 percent growth in the first quarter. The stock may remain around current price levels for a while. Iron Rock reported vastly improved results for first quarter and appears to be on the way to their first profit since listing. The stock climbed to $3.50, following release of the results.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 6.1 compared to an average PE for the overall main market of 10 based on 2018 estimated earnings. The main market PE is 7.2 for the top stocks, compared to a market average of 13.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 39 percent to the average for the Junior Market Top stocks but it’s a third of what the average PE for the year is likely to be of 20 times earnings and main market stocks traded at a discount of 43 percent to the market.

Good news push TOP 10 stocks

There were no new entrants this past week, to the TOP 10 list of stocks on the Jamaican Stock Exchange, but there was some good news with the acquisition by Stationery and Office Supplies of a book making business.
The acquisition is set to add to profit in year one, and investors responded by driving the stock to a new high. The stock that was facing some challenge to get bids around the $5.50 level, the stock traded at in the past few weeks, jumped to $6 on the same day the announcement was made. With annual sales estimated around $130 million that could rise with greater focus on the operations and more capital available to support it, IC Insder.com has up graded the earnings to 90 cents for this year. The company is one of a number of Junior Market listings expected to post positive gains in the 2018 first quart over that of 2017.
The other good news for the market was a further fall in Treasury bill rates and another month of slightly negative inflation for March with the first quarter inflation also being negative. While the main market hit two new record highs during the week. While the JSE main market is caught up in a wedge formation and waiting for a big break out which could happen any time, the Junior Market that was in a downward drift from late 2017 now seems to have support from the 200 day and 120 day moving averages with the short term moving average now above both longer term ones. The market is being steered by two support lines with one going back to 2010 and another going back to early 2014.
Investors pressured recently listed Elite Diagnostic during the week as they reacted negatively to the December quarter results with lower profit that the previous year’s results. Investors seemed to have responded the Berger Paints bullish reading in the annual report as they bought the stock in increasing volumes during the week, leaving the price at $19. The Managing Director had reported that “the outlook for 2018 and beyond is extremely positive. The Berger brand remains strong and continues to dominate the local market with strong brand equity and a reputation for quality. With GDP projected to grow by at least 1.5% in 2018, construction activity and the demand for coatings is expected to remain relatively strong for the next two to three years. Plans are already being implemented to expand the company’s local distribution and product range as well as to improve our level of customer service and responsiveness. In 2018, there will also be greater emphasis on building out exports by targeting new markets in Central America and the Greater CARICOM region.”
Palace Amusement continues to enjoy expanded interest from investors with the continued success of the movie Black Panther. After more than two months of showing it still has two showings per day in all three cinemas, but the attraction for the stock is much more than this movie.
Strong buying came in for Barita Investments at $9.50 during the week. JMMB Group gained more ground, as the block out period for insiders to trade in the stock closes and the stock moved up to $28.32, resistance is just over $31 an area investors should be on the lookout for in the short run.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 6 compared to an average PE for the overall main market of 10 based on 2018 estimated earnings. The main market PE remains at 7 for the top stocks, compared to a market average of 12.7.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 40 percent to the average for the Junior Market Top stocks but it’s a third of what the average PE for the year is likely to be of 20 times earnings and main market stocks traded at a discount of 42 percent to the market.

Big gains for JSE majors – Wednesday

Kingston Wharves jumped $5 to a record close at $45 on Wenesday.

There was just modest volume trading on the Jamaica Stock Exchange main market on Wednesday with the JSE All Jamaican Composite Index jumped 2,508.77 points to 322,941.94 and the JSE Index climbed 2,285.77 points to 294,236.60.
At the close, 24 securities traded, compared to 25 on Tuesday and ended with the prices of 16 stocks rising, 4 falling and 4 trading firm, in the main and US dollar markets.
At the close of trading Berger Paints jumped $1.02 to $19.22, Kingston Wharves jumped $4 to record closing high of $45, NCB Financial rose 98 cents to $05.99, PanJam Investment climbed $1.25 to $43, Scotia Group rose $1.03 to $52 and Seprod was up 99 cents to $34.
Main market activity ended with 4,971,238 units valued at $81,421,271 changing hands compared to 3,313,428 units valued at $132,584,977 on Tuesday. At the close of trading Carreras closed with the largest volume of 1,661,256 units, amounting to 33.42 percent of the overall volume traded, followed by Scotia Group with 647,818 shares or 13 percent of the volume traded and Radio Jamaica with 563,453 units or 11.33 percent of the day’s volume.
Trading resulted in an average of 216,141 units valued at an average of $3,540,055 for each security traded. In contrast to 138,060 units for an average of $5,524,374 on Tuesday. The average for the month to date is 897,409 shares with a value of $4,795,531 and previously 947,792 shares with a value of $4,897,207. In contrast, March closed with an average of 626,526 units with an average value at $20,492,207 for each security traded.
The US dollar market closed on Wednesday with Proven Investments finishing trading at 20 US cents after trading 30,955 shares for US$6,410. Trading ended with a rise of 3.31 points in the market index to 164.15 as the average price of Proven inched higher during the day.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 stocks ended with bids higher than their last selling prices and 2 with a lower offers.
For more details of market activities see – JSE main market trading climbs – Wednesday.

Modest gains for JSE majors – Tuesday

Carib Cinema, the flagship for Palace Amusement, the company’s stock climbed $29 on Tuesday.

There was just modest volume trading on the Jamaica Stock Exchange main market on Tuesday with the JSE All Jamaican Composite Index increased by 144.01 points to 320,433.17 and the JSE Index advanced by 131.21 points to 291,950.83.
At the close, 25 securities traded, compared to 28 on Monday and ended with the prices of 9 stocks rising, 11 falling and 5 trading firm, in the main and US dollar markets.
At the close of trading Palace Amusement jumped $29 to $780 and Seprod fell $2.39 to $33.01 as only two securities with major price movements.
Main market activity ended with 3,313,428 units valued at $132,584,977 compared to 2,407,626 units valued at $18,652,792 on Monday. At the close of trading, NCB Financial Group closed trading with 1,244,263 units accounting for 37.55 percent of the volume traded and Ciboney Group with 962,000 units and 29 percent of the day’s volume.
Trading resulted in an average of 138,060 shares valued at $5,524,374, for each security traded, compared to 89,171 shares valued at $690,844 on Monday. The average for the month to date is 947,792 shares with a value of $4,897,207 and previously 1,015,505 shares with a value of $4,839,315. In contrast, March closed with an average of 626,526 units with an average value at $20,492,207 for each security traded.
The US dollar market closed on Tuesday with Proven Investments finishing trading at 20 US cents after trading 4,206 shares for US$841. Trading ended with an unchanged market index of 162.84.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 89stocks ended with bids higher than their last selling prices and 4 with a lower offers.
For more details of market activities see – JSE main market trading climbs – Tuesday.

Standoff for TOP 10 stocks

Berger Paints annual report had some good news for investors to digest.

The up and down nature of the markets this past week left most stocks fairly stable resulting in no new entrant to the TOP 10 list of stocks on the Jamaican Stock Exchange.
The past week got greeted by a series of company results that were not inspiring with most reporting lower profits for the first quarter this year. On a positive note, most of the results were affected by increased cost resulting from expansion ahead of full flow of new income from the expanded facilities.
Companies affected include recently listed Elite Diagnostic, Paramount Trading and Knutsford Express. Berger Paints released their annual report that was filled with some good talk of going after market share, new product lines to be added and upgrading of equipment to increase efficiency.
“The outlook for 2018 and beyond is extremely positive. The Berger brand remains strong and continues to dominate the local market with strong brand equity and a reputation for quality. With GDP projected to grow by at least 1.5% in 2018, construction activity and the demand for coatings is expected to remain relatively strong for the next two to three years. Plans are already being implemented to expand the company’s local distribution and product range as well as to improve our level of customer service and responsiveness. In 2018, there will also be greater emphasis on building out exports by targeting new markets in Central America and the Greater CARICOM region,” the Managing Director reported.
For Palace Amusement with the bid at $781 at the close of the week down to $750 the movie Black Panther continues to pull in the crowd after two months of showing and still has two showings per day in all three cinemas, the same as shows that opened during the past week.
Barita Investments rose to close the week at $9.50 as investors sucked out most of the supply under $10. Key Insurance fell to $3 as the company reported that two directors sold shares during the week, while JMMB Group gained more ground, as the block out period for insiders to trade in the stock, comes to a close, until after mid May.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 6.2 compared to an average PE for the overall main market is 10 based on 2018 estimated earnings. The main market PE remains at 6.5 for the top stocks, compared to a market average of 12.3.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 39 percent to the average for the Junior Market Top stocks but it’s a third of what the average PE for the year is likely to be of 20 times earnings and main market stocks traded at a discount of 47 percent to the market.

JSE major plunged over 6,000 points – Monday

The JSE all Jamaica Composite Index fell more than 6,600 points.

Trading on the Jamaica Stock Exchange main market ended with the JSE All Jamaican Composite Index nose diving 6,685.29 points to close at 319,402.41 and the JSE Index plunging 6,091.06 points to 291,011.70.
At the close with only 28 securities traded versus 29 on Friday. Trading ended with the prices of 8 stocks rising, 10 falling and 10 trading firm, in the main and US dollar markets.
Despite the sharp fall in the market indices, at the close of trading, Palace Amusement with a rise $1 to end at $751, was the sole stock to record price movement around $1 or more.
Main market activity ended with 5,325,114 units valued at $49,013,254 compared to 5,136,325 units valued at over $124,111,209. Ciboney Group accounting for 54 percent of the volume traded with 2,879,740 units followed by Jamaica Broilers with 703,300 units amounting to 13.21 percent.
Trading resulted in an average of 190,183 shares valued at $1,750,473, for each security traded, compared to 190,234 shares valued at $4,596,711 on Friday. The average for the month to date is 1,056,536 shares with a value of $5,441,440 and previously 1,240,308 shares with a value of $6,425,698. In contrast, March closed with an average of 626,526 units with an average value at $20,492,207 for each security traded.
The US dollar market closed on Friday with 8,891 units valued at US$1,956 as Proven Investments was the sole stock traded and ended unchanged at 22 US cents, leaving the market index unchanged at the close at 173.30.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 8 stocks ended with bids higher than their last selling prices and 3 with a lower offers.
For more details of market activities see – JSE trading value falls sharply – Monday

Kremi in tTech out of TOP 10 stocks

 

Caribbean Cream outlet in Kingston.

Caribbean Cream jumped into the Junior Market TOP 10 replacing tTech that reentered last week but enjoyed a bounce in price to be edged out for this week.
There was no new entrant to the main market list, even as that market recorded three days of record close during the shortened week. Market activity in the main market is pointing to a big break out for stock prices while the Junior Market is flexing to rise having hit a one year low in early December last year.
The most notable change was the $250 fall in the price of Palace Amusement down to $750 from $1,000 last week even as the big money making movie Black Panther continues to draw large crowds after nearly two months of showing and seems set to ensure that revenues and profit for the year to June is the highest by far in the company’s history.
Berger Paints made gains and Barita Investments slipped in price and swapped the top two positions by the end of the week. In the Junior Market, Jamaican Teas moved up to $5.30 from $4.75 at the end of the prior week but still sits in at number 4 on the list.
Caribbean Cream recorded strong revenues gain in the year to February but enjoyed lower profit up to November as input cost rose negated the revenues rise. A major part of the input cost well sharply in price since peaking in 2017 and should help restore gross profit margin going forward. This is one to be watched going forward along with Radio Jamaica where reports are that advertising picked up nicely for the March quarter, from a slow December quarter and may be pointing to improvement for 2018 onwards, with increasing economic activity taking place, leading to increased sales and profits for many of the advertisers.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 6.2 compared to an average PE for the overall main market is 10 based on 2018 estimated earnings. The main market PE is 6.5 for the top stocks compared to a market average of 12.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 38 percent to the average for the Junior Market Top stocks but it’s a third of what the average PE for the year is likely to be of 20 times earnings and main market stocks traded at a discount of 47 percent to the market.