Pulse top 2020 Jamaican stock with 243%

The Jamaica Stock Market has moved from the best performing in the world in 2018 to one of the worse performing in 2020. The fall from grace had to do far less with local factors but more so with global developments. Nevertheless, Main Market listed Pulse Investments came out on top in 2020 with gains of 243 percent, followed by former Junior Market listings, Epply in the second position with 227 percent and Key Insurance with 88 percent.
Even as the markets had their worse year since 2018, the past year ended with a number of stocks recording gains, up to 243 percent for top Main Market stocks and a much lower 36 percent for the best performing Junior Market stock. The Junior Market suffered badly, with ten stocks losing upwards of 39 percent out of a list of 33 stocks that declined for the year. The Junior Market was partially saved by two stocks, one that was listed in December 2019 and one listed in the last half of 2020. Mailpac was listed in December 2019 and rose 36 percent in 2020, followed by Tropical Battery by 28 percent as the two leading Junior Market winners. With tax losses as the only major asset of worth, Ciboney came in third and more than doubled with a rise of 118 percent. The Main Market had 32 stocks declining during the year, with losses going as high as 63 percent.
In 2020, both of the Jamaica Stock Exchange major markets were down, with the Junior Market just edging out the Main Market index with a lower decline of 21 percent versus 22.6 percent. Even though 2020 was not a great year, some investors made money by buying stocks at rock bottom prices when many investors were dumping earlier in the year.
The JSE Main Market fell 33 percent to a yearly low in March and the Junior Market by 37 percent. Since then, they have rebounded but not enough to take them out of the year’s negative territory.
Since bottoming in March, the Junior Market is up 30 percent and the Main Market 16.6 percent by the end of the year. There are strong signals pointing to an upward move for both markets as they transitioned from a consolidating phase when investors were assessing developments in the economy and the stock market to a more bullish state since the latter months of 2020.

The top profit performers for 2020

Its earnings season for Jamaican stocks and usually most companies would have posted first-quarter results already. The Jamaica Stock Exchange has permitted companies to publish results later, due to the Coronavirus outbreak and the disruption caused to businesses.

Caribbean Flavours Derrimon’s subsidiary

Some results have been lower than for last year’s first quarter, but a number of them have posted robust increases. Outstanding results published last week were led by Grace Kennedy with a 50.6 percent spike in profit before tax, to $1.99 billion for the March quarter, while profit after tax attributable to shareholders of the group rose an impressive 47 percent, to $1.32 billion. tTech’s profit for the March quarter climbed 5,375 percent from $758,000 to $4.15 million as revenues rose a healthy 32 percent. Revenues grew 33 percent to $149 million at Caribbean Flavours while profits before tax rose 31 percent to $19 million from $14.4 million, profit after tax rose 19 percent to $14.2 million. The first-quarter profit is 45 percent of the 2019 full-year results.
Revenues at 138 Student Living climbed 29 percent to $278 million for the February quarter and 71 percent to $734 million for the half-year, with profit ending at $87 million, for earnings per share (EPS) of 21 cents for the quarter, up from a loss of $68 million in 2019. Profit for the half-year to February was $270 million, with EPS of 65 cents, up from a loss of $67 million in 2019. Profit at Eppley jumped 541 percent over the 2019 outturn of just $6 million after-tax to $40 million, with EPS of 21 cents.

Kingston Wharves profit rose 22%.

Kingston Wharves results for the quarter ended in March rose two percent to $1.9 billion, over the corresponding period in 2019 while net profit attributable to shareholders increased 22 percent or $101 million over the prior year, to $554 million. Sterling Investments reported a profit of US$4.6 million, versus a loss of US$7.2 million in the March 2019 period as a significant swing around in exchange gains pushed earnings higher for the March 2020 period.
Prior to this past week, Barita Investments reported a 25 percent rise in March quarter profit and 96 percent increase in the half-year results, profit for the first quarter at Derrimon Trading rose 34 percent to 91.6 million from a 5.5 percent rise in sales revenues, a rise of $18 million in other revenue and a drop in finance cost from $58 million to $49 million. iCreate increased revenues by 106 percent to $24.5 million for the three months to March with net Profit of $1.25 million, up from a loss of $1.48 million made in 2019. Pulse Investments profit rose 136 percent for the March quarter profit and 121 percent for the, nine months to March, Seprod profit for the March quarter increased 103 percent and Mailpac Group reported 71 percent increase in first-quarter profit

4 for 1 stock split for Pulse Investment?

Investors in Pulse Investment can look forward to a stock split that is likely to see each existing stock split into four units when it becomes effective.The directors have not yet met to determine the exact amount of the split or the total number of shares that likely to be offered for sale later, but at Tuesday’s annual general meeting, the Chairman gave shareholders some sense as to what the outturn could be.
At the general meeting, shareholders approved a resolution “That the company be authorized to issue any or all of new shares pursuant to a Rights Issue or Stock Split or both, as the Directors may determine.” The company is not only planning to split the stock but is likely to come to the market for fresh capital to assist with its venture into residential development and investments into other companies. The meeting was told of the progress being made in the hospitality sector with occupancy said to range from 30 percent up to 100 percent at various times of the year. Rental of commercial space had very high occupancy rates. The modeling segment continues to add new talent with good demand coming from overseas for some of the models.

Kingsley Cooper Chairman of Pulse Investments.

The Chairman explained to shareholders that the sum of $377 million shown in the financial statement as income represents amounts covering production expenses relating to TV shows and advertising entitlement sold or used by the company. For the 2019 fiscal year, Pulse reported profit of $688 million up from $315 million in 2018. For the six months to December 2019, the company reported profit of $230 million for the quarter versus $102 million and $473 million for the six months compared with $229 million in 2018. Operating revenues were $163 million for the December quarter and $312 million for the half-year. Fair value gains on investment property contributing $145 million to profit in the second quarter and $291 million for the half-year. Earnings per share ended at 14 cents for the quarter and 29 cents for the six months. Pulse is trading at $11.30 on Wednesday morning on the Jamaica Stock Exchange.

Sygnus US$ stock hits IC TOP 10

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The JSE Main Market TOP 10 had just stock leaving with Sygnus Credit Investments Jamaican dollar listing replaced by the US dollar listed stock, with the price of the latter at 14 US cents or just under J$19 equivalent.
The Sygnus Jamaican quoted stock climbed to a record high of $30 on Friday, but ended at a record closing high of $27 at the end of trading and moved down to 12th spot in the overall market ranking.
The recently listed Lumber Depot closed trading at $1.91 on Friday and moved out of the TOP Junior Market listing. Also, leaving the TOP 10 was Honey Bun, with the price rising to $8.39 with a limited supply of the stock.
Coming into the Junior Market listing, are Lasco Distributors and Paramount Trading as investors beat down their prices.
The targeted PE ratio is now 25, with several stocks trading at that level or around 22 currently. The average projected gains for the IC TOP 10 stocks are 179 percent for Junior Market and 154 percent for JSE Main market Top 10 shares.
The top three Junior Market stocks currently are the Main Event with projected gains of 243 percent, followed by Medical Disposables with a potential increase of 238 percent and Jamaican Teas with 220 percent likely capital growth.
Radio Jamaica still holds on to the lead for Main Market stocks, with an expected increase of 236 percent, followed by Pulse Investments in the number two spot with projected growth of 205 percent and Sygnus US dollar-denominated stock with likely gains of 186 percent, is next.
The JSE Main Market closed the week, with an overall PE of 20.6 and the Junior Market at 14.3, based on current year’s earnings. The PE ratio for Junior Market Top 10 stocks averages 9.1 with the Main Market PE at 10.1.
The TOP 10 stocks now trade at a discount of 36 percent of the average for Junior Market stocks and the Main Market stocks trade at a discount of 51 percent to the overall market.
IC TOP 10 stocks are likely to deliver the best returns to March next year. Projected earnings, along with the PE ratio for each company’s current fiscal year, are used in determining potential gains with the likely gains ranked in descending order with highest-ranked being the most attractive. Forecasted values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.

This report is compiled by persons who may have an interest in securities included in the commentary.

August off with record breaking run for JSE

The Junior Market of the Jamaica Stock Exchange is up 52.35 points to cross over the 3,500 points level for the first time in the market’s history.
The move after an hour trading on Friday pushed the Junior Market Index to a record high of 3,514.89 points.  The JSE Main Index rose 5,119.76 points to a record of 528,859.86 and the All Jamaican Composite Index added 5,633.92 points to trade at 580,884.11.
The Limners and Bards the (Lab) traded at $3.65 to record a 265 percent gain since the IPO and the listing a week ago. Pulse Investments traded at $3.90 up from $3 at the close on Wednesday. General Accident trades at $4.90, Jamaican Teas rose to a record high of $7 from $5.65 on Wednesday and Caribbean Cream fell to $4.40 on limited volume.

JSE record run shakes up IC TOP 10

Five consecutive days of record close, shook up IC Insider.com’s TOP 10 this past week, more shakeup seems possible with a raft of company results set for release, this week.
IC Insider’s long standing TOP 10 main market stock, Caribbean Cement jumped sharply during the week to record high of $100 before closing the week at $80, up $16.60 as investors reacted positively to the strong first quarter results. Sagicor Group rose to close the week at $46.50 and Sygnus Credit Investments moved to $12.50 at the close of the week and moved out of the TOP 10 main market. Jamaica Broilers, Berger Paints and Pulse Investments return to the main market TOP list.
The Junior Market TOP 10, said goodbye to Jamaican Teas that rose to $3.90 and Caribbean Cream. Caribbean Cream earnings for the 2019/20 fiscal year were down grade to 47 cents per share, following the release of 2019 audited financial results. ISP Finance returns to the TOP list after a long absence and AMG Packaging returned after a short time out.
The three leading Junior Market stocks for the coming week are, Elite Diagnostic with likely gains of 233 percent, followed by Lasco Financial with potential gains of 229 percent and Caribbean Producers with projected gains of 221 percent.
Radio Jamaica with potential gains of 175 percent takes over the leadership of main market stocks, from Victoria Mutual Investments with 150 percent likely gain, and now sits in third spot behind Sterling Investments with potential to gain 151 percent.
 Wigton Windfarm, Jamaica’s latest initial public share offer, sits in at the 4 position on the main market stock list. The stock comes to the market at 50 cents per share and boast a PE of 8.3 times normalized earnings for the year to March 2019.
The main market, closed the week with the overall PE at 14.2 and the Junior Market at just 10.3. The PE ratio for Junior Market Top 10 stocks averages 6.6 and the main market PE is now 8.6. These levels, point to the huge upside for the TOP 10 stocks over the next 12 months and Junior Market stocks in particular.
The TOP 10 stocks now trade at an average discount of 36 percent to the average for the Junior Market Top stocks and main market stocks trade at a discount of 40 percent to the overall market.
TOP 10 stocks are likely to deliver the best returns within a 12 months period. Projected earnings, for each company’s current fiscal year, are used in determining, the selected stocks. The PE for and projected earnings for each stock are computed to show potential gains for the year, which are ranked in descending order. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.

This report is compiled by persons who may have interest in the securities commented on.

3 new additions to IC TOP 10

There are three new additions to the IC Insider.com’s TOP 10 stocks for this week, but there are no new movement in and out of the top main market stocks.
AMG Packaging moved up in price and slipped out of the top list, Caribbean Cream and Medical Disposables that climbed to $7.50 at the end of the week, were edged out.
CAC2000 returns to the TOP 10 as the price fell to $9.21 after months of absence. Pressure on revenues due to disruption in business caused by the roadworks around the area of their offices, could see this one being down in price for a while, until investors see it as just temporary. Everything Fresh makes it to the list in eight position and Jamaican Teas returns with the price hit down to $3 but closed with the bid at $3.50.
The three leading Junior Market stocks for the coming week are Caribbean Producers with projected gains of 240 percent, Elite Diagnostic with potential gains of 228 percent and CAC2000 with potential gains of 226 percent.
Victoria Mutual investments is now the top Main Market stock with 156 percent likely gain, followed by Radio Jamaica with 152 percent and Sterling Investments with potential to gain 151 percent.
The main market, closed the week with the overall PE at 13.6 and the Junior Market at just 10.3. The PE ratio for Junior Market Top 10 stocks average 6.6 and the main market PE is now 8.5. These levels, point to the huge upside for the TOP 10 stocks over the next 12 months.
The TOP 10 stocks now trade at an average discount of 36 percent to the average for the Junior Market Top stocks and main market stocks trade at a discount of 38 percent to the overall market.
TOP 10 stocks are likely to deliver the best returns within a 12 months period. Projected earnings, for each company’s current fiscal year, are used in determining, the selected stocks. The PE for and projected earnings for each stock are computed to show potential gains for the year, which are ranked in descending order. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.

This report is compiled by persons who may have interest in the securities commented on.

Grace back in IC TOP 10

Grace new HQ close to the end of construction in downtown Kingston

General Accident returned to the Junior Market TOP 10 list along with Main Event while Grace Kennedy returns to the TOP 10 main market list at the expense of Pulse.
Jamaican Teas price moved up to $3.97 from $3.50 at the close of the previous week and Caribbean Cream came in for some buying during the past week, pushing the price to $6.60 and out of the top flight of Junior Market stocks. In the main market, Grace Kennedy slipped in price to close the week at $59.75 and that was enough for it to edge its way back in the TOP main market stocks.
The three leading Junior Market stocks are Iron Rock with potential gains of 300 percent, Caribbean Producers 281 percent up from last week, as the stock slipped to $4.20 and Lasco Financial with potential gains of 211 percent.
The three leading main market stocks are, Victoria Mutual investments with 152 percent likely gain, is on top, followed by Carib Cement with potential to gain 150 percent for the year down from 172 percent in the prior week and Sterling Investments with 150 percent.
The main market, closed the week with the overall PE at 13.3 and the Junior Market at just 10.6. The PE ratio for Junior Market Top 10 stocks average 6.7 and the main market PE is now 8.4. These levels, point to the huge upside for the TOP 10 stocks over the next 12 months.
The TOP 10 stocks now trade at an average discount of 37 percent to the average for the Junior Market Top stocks and main market stocks trade at a discount of 37 percent to the overall market.
TOP 10 stocks are likely to deliver the best returns within a 12 months period. Projected earnings, for each company’s current fiscal year, are used in determining, the selected stocks. The PE for and projected earnings for each stock are computed to show potential gains for the year, which are ranked in descending order. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.

This report is compiled by persons who may have interest in the securities commented on.

 

Cement tops main market TOP 10

Caribbean Cement is now IC Insider.com TOP 2019 main market stock.

Grace Kennedy moved up in price to $61 and is now at 13 spot, while Pulse Investments price slipped to $2.50 and moved into the TOP 10 main market stock list, replacing Grace. There were no movements in or out of the Junior Market TOP 10 listing.
IC insider.com revised Caribbean Cement earnings to $7 per share since the last report resulting from a reassessment of the amount expended on importing cement in 2018. Import of cement which cost more than $1 billion in 2018, is not expected to recur in 2019. That moved it to the top of the main market stocks. Earnings per share for General Accident was lowered to a more conservative 60 cents even though it could exceed that level, with the December 2018 quarter showing a 44 percent increase in gross premium income over the 2017 quarter, almost twice the 23 percent increase for the full year. If growth in the last quarter were to carry through in 2019, then a higher bottom-line can be expected. The earnings downgrade moved the company to the 10th spot on the list.
The three leading Junior Market stocks are Iron Rock with potential gains of 300 percent, Paramount with potential gains of 281 percent and Caribbean Producers 258 percent.
The three leading main market stocks are, Carib Cement is back on top with potential to gain 174 percent for the year followed by Victoria Mutual Investments with 173 percent likely gain and Sterling Investments with 167 percent.
The main market closed the week with the overall PE at 13.6 and the Junior Market at 10.2. The PE ratio for Junior Market Top 10 stocks average 6.3 and the main market PE is now 8.2. These levels point to the huge upside for the TOP 10 stocks over the next 12 months.
The TOP 10 stocks now trade at an average discount of 40 percent to the average for the Junior Market Top stocks and main market stocks trade at a discount of 39 percent to the overall market.TOP 10 stocks are likely to deliver the best returns within a 12 months period. Stocks are selected based on projected earnings for each company’s current fiscal year. Based on an assumed PE for each, the likely gains are determined and then ranked, with the stocks with the highest potential gains ranked first followed by the rest, in descending order. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.

This report is compiled by persons who may have interest in the securities commented on.

Barita up 593% top 2018 JSE stock

Barita climbs to a new closing high of $50 on Friday to gain 593% in 2018..

Stocks on the Jamaica Stock Exchange main market ending 2018 with a credible gain of 31.7 percent but brokerage house Barita Investments surged a by a huge 593 percent to be the markets best performing stock in 2018.  
Barita Investments gain mostly came after Cornerstone Investment Holdings officially sealed the deal to take over the company and laterally, after announcing a rights issue to shareholders at an exercise price of $15.50. The stock closed the year at $52. But there is a lot more going on with this company as the new majority owners take a more aggressive approach to capture more business locally and within the wider Caribbean.
Four stocks end 2018 with gains of more than 100 percent contributed to the year’s performance but the year’s movement fell below that of 2017, when the index rose 50.7 percent. The next best performer could only deliver a 211 percent rise in contrast to the stunning gains by Barita. Salada Foods ended the year with a jump in price to $35 on strong gains in profit, to capture the number 2 best performing spot rising by 211 percent for the year, followed by Palace Amusement with gains of 159 percent, the third year in a row that it is occupying the top 10 list. Kingston Wharves grew 135 percent to be one of 4 stocks to reappear in the top 10 for two consecutive years. Jamaica Broilers gained 67 percent. Pulse Investments reappeared in the Top 10 with a rise of 66 percent and heavy weight, PanJam Investment put in a strong showing of 65 percent, while Supreme Ventures chipped in with 57 percent, Mayberry Investments rose 52 percent and NCB Financial with 50 percent to retain one of the Top 10 spots for the second year in a row.
The worst performing stocks included Ciboney down 71 percent due mainly to the sale of property it previously owned with most of the proceeds distributed as a dividend thus reducing the value of its assets to a few million dollars. 138 Student Living was next with a fall of 42 percent with Portland JSX ending with a loss for the year of 25 percent following on from Kingston Properties with 22 percent and Sygnus Credit Investments with 20 percent from it 2018 IPO price. Both Ciboney and Carreras that are in the top 10 worst performing stocks in 2018 are coming from the top 10 in 2017.