Trading levels on the Trinidad stock market picked up on Tuesday with more volume and valued traded than on Monday. 11 securities changed hands of which only 1 advanced 3 declined and 7 traded firm with 263,353 stocks changing hands with a value of $7,028,775. The Composite Index lost0.08 points to close at 1,178.27, the All T&T Index fell by just 0.16 points to close at 2,021.23 and the Cross Listed Index remained at 43.93 Gains| Stocks increasing in price at the close are Neal & Massy with 17,390 shares climbed by 2 cents to end the day at $68.90. Declines| The stocks declining at the end of trading are Clico Investment Fund traded 59,760 shares valued at $1,284,959 but declined by 10 cents to end at $21.50, Readymix fell to $19.33 down by 3 cents, a new 52 weeks low as 300 units changed hands and Scotiabank dropped to a new 52 weeks low by shedding 3 cents to end at $69.35 while 1,000 shares changed hands. Firm Trades| Stocks closing with prices unchanged at the end of trading are Angostura Holdings traded with 87,926 shares changing hands for a value of $1,120,432 as the stock closed at $12.75, Flavorite Foods 1,000 units to close at $6.70, Guardian Holdings with a volume of 44,801 shares traded with a value of $640,654 closed at $14.30, Point Lisas Industrial Port Development with 2,150 units to close at $4.15, Prestige Holdings contributed 28,614 shares with a value of $268,971 to end at $9.40 while Republic Bank added 19,646 shares valued at $2,377,166 to end at $121 and Unilever Caribbean traded 766 shares to close at $62.20. IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with the bid higher than the last selling price and no stock closed with the offer that was lower.
Trading levels on the Trinidad Stock Exchange on Monday saw two new 52 weeks high reached as ANSA Merchant Bank and Point Lisas Industrial Port Development reached new highs following two days of closure for holidays. Trading level was low, with 12 securities changing hands, 2 advanced 4 declined and 6 traded firm with 146,365 stocks changing hands with a value of $984,838.
The Composite Index lost 2.75 points to close at 1,178.35, the All T&T Index fell by 5.29 points to close at 2,021.39 and the Cross Listed Index fell by a mere 0.03 points to end at 43.93. Gains| Stocks increasing in price at the close are ANSA Merchant Bank gained a cent to close at $39.03 and Point Lisas Industrial Port Development with 150 shares gained 15 cents to end the day at $4.15. Declines| The stocks declining at the end of trading are First Citizens Bank that lost 93 cents, to close at $36.50 with 2.036 shares, Guardian Holdings added 10,902 shares valued at $155,899 to close down by 45 cents at $14.30, Jamaica Money Market Brokers with 69,634 shares changing hands for a value of $31,335, closed at 45 cents, Neal & Massy traded 2,000 units but declined by 7 cents to close at $68.88 and Sagicor Financial Corporation with a volume of 35,515 units, traded for $237,611 to close 3 cents lower at $6.69. Firm Trades| Stocks closing with prices unchanged at the end of trading are Angostura Holdings with 21,500 shares with a value of $274,153 to close at $12.75, Clico Investment Fund that posted a volume of 455 shares valued at $9,828 to close at $21.60, Grace Kennedy 200 shares to close at $3.45, National Flour Mills 700 units closing at $1 and Prestige Holdings 2,245 shares to end at $9.40. IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 4 stocks with the bid higher than the last selling price and 1 stock with the offer that were lower.
The price earnings ratio is the most popular measure investors use to compare and determine stocks values. It is computed by dividing the price of a stock by the earnings per share. It allows investors to compare the value of one company with others in order to decide which ones are to be bought sold or held on to. When the market moves markedly away from the norm it is usually time for investors to move. Nowhere is this truer than PE ratios.
In looking at good buying opportunities the crude measure is to buy those stocks with low PEs compared to the market or to stocks in the same sector.
The Trinidad market has several stocks that are priced at a PE that is well below the market average, this has been so from early 2013 and continues to present.
During the past week Trinidad Cement declined to $1.95, National Flour lost ground to close at $1, but Point Lisas gained ground to $4, Neal & Massy inched up further to $68.80 One Caribbean Media moved to new highs during the week to close at $23, while Citizens Bank lost value to end at $37.47.
The market has 6 stocks that are priced at a PEs that are well below the market’s average of 15, and a few close to the average, thus offering profitable investment opportunities for investors with medium term investment horizon.