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.
Gains for JSE USD Market
Trading activity falls on TTSE
Market activity ended on Thursday after 17 securities traded down from 20 on Wednesday, with seven rising, three declining and seven ending unchanged after trading 59 percent fewer shares, with 63 percent lower than Wednesday, on the Trinidad and Tobago Stock Exchange.
The Composite Index slipped 0.91 points to 1,517.93, the All T&T Index advanced 3.98 points to 2,130.66 and the Cross-Listed Index declined 0.86 points to settle at 120.85.
Overall, 244,481 shares traded for $4,785,196 down from 595,593 units at $12,852,172 on Wednesday. An average of 14,381 units traded at $281,482 compared to 29,780 shares at $642,609 on Wednesday, with trading month to date averaging 54,019 units at $523,291 versus 59,162 units at $554,674 on the prior trading day. 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 one with a lower offer.
At the close, Ansa Merchant Bank increased $1.99 to a 52 weeks’ high of $45 clearing the market with 500 shares, Calypso Macro Investment Fund gained 10 cents to close at $16.85 after trading 106 stock units, Clico Investment Fund lost $2.19 in closing at $29.11 after 400 stocks crossed the market. First Citizens Group rose 4 cents to end at $64.49 and closed with trading in 3,370 units, FirstCaribbean International Bank popped 4 cents to $6.14 after exchanging 8,242 shares, GraceKennedy declined 31 cents to $5.85 trading 4,165 stocks. Guardian Holdings climbed 25 cents to end at $30 in an exchange of 83,999 stock units, L.J. Williams B share remained at $1.84 in an exchange of 837 units, Massy Holdings slipped 1 cent to $105.99 with the swapping of 3,730 units. National Enterprises finished at $3.25 while exchanging 15,570 shares, National Flour Mills advanced 4 cents to $1.91 trading 49,985 stocks, NCB Financial Group ended unchanged at $8 in switching owners of 32,430 stock units. One Caribbean Media rallied 5 cents to $4.20, with 24,100 units crossing the exchange, Point Lisas remained at $3.27 with an exchange of 300 shares, Scotiabank ended unchanged at $72, with 13,374 stocks changing hands. Unilever Caribbean finished at $15.90 after 1,744 stock units crossed the market and West Indian Tobacco finished at $26 after exchanging 1,629 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.
Winners beat losers on the JSE USD Market
The volume of shares trading Wednesday declined 51 percent from Tuesday with 81 percent higher value, at the close of the Jamaica Stock Exchange US dollar market and resulted in more stocks rising than falling.
Trading ended with four securities changing hands, compared to six on Tuesday with prices of three rising and one declining.
The JSE US Denominated Equities Index lost 3.89 points to end at 198.48. The PE Ratio, a measure used in computing appropriate stock values, averages 13.5. The PE ratio uses ICInsider.com earnings forecasts for companies with the financial year up to August 2022.
A total of 498,081 shares changed hands for US$34,261 compared to 1,021,685 units at US$18,940 on Tuesday.
Trading averaged 124,520 units at US$8,565, compared to 170,281 shares at US$3,157 on Tuesday and month to date averages 80,405 shares at US$3,706 versus 75,993 units at US$3,221 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, Margaritaville climbed 2 cents to 22 US cents with the swapping of 3,650 shares, Proven Investments advanced 0.93of a cent to 22.93 US cents in an exchange of 99,048 stock units, Sygnus Credit Investments USD share shed 0.85 of a cent to end at 12 US cents with 85,283 stocks changing hands and Transjamaican Highway gained 0.02 of a cent in closing at 0.8 of one US cent in switching ownership of 310,100 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE USD Market slips back
Trading on Tuesday ended with the volume of shares changing hands rising 38 percent but with 55 percent lower value than Monday, at the close of the Jamaica Stock Exchange US dollar market, resulting in rising stocks being edged out by those declining.
Trading ended with six securities changing hands, compared to eight on Monday with prices of two rising, three declining and one ending unchanged.
The JSE US Denominated Equities Index dropped 5.17 points to end at 202.37.
The PE Ratio, a measure used in computing appropriate stock values, averages 13.3. The PE ratio uses ICInsider.com earnings forecasts for companies with the financial year up to August 2022.
Overall, 1,021,685 shares traded, for US$18,940 compared to 740,458 units at US$41,979 on Monday. Trading averaged 170,281 units at US$3,157, compared to 92,557 shares at US$5,247 on Monday and month to date averages 75,993 shares at US$3,221 versus 59,354 units at US$3,232 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 ending with a bid higher than their last selling prices and none with a lower offer.
At the close, First Rock Capital USD share shed 0.01 of a cent in closing at 6.99 US cents after an exchange of 552 shares, Margaritaville increased 2 cents to 20 US cents trading 1,860 stocks, Productive Business Solutions fell 7 cents to US$1.09, with 27 stock units crossing the market. Proven Investments traded 45,841 units to finish at 22 US cents, Sterling Investments popped 0.01 of a cent to close at 2.31 US cents, with 12,100 shares changing hands and Transjamaican Highway declined 0.11 of a cent in ending at 0.78 US cents in an exchange of 961,305 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Profit jumps 220% at Salada but be wary
Helped by a big jump in foreign exchange gains of $11.7 million versus a loss of $1.76 million in 2020 profit at Salada Foods surged 220 percent in the December 2021 quarter to $42 million from $13 million in 2020 from sales revenues that rose 28 percent to $289 million from $226 million in 2020.
The big improvement in results owes a lot to the dislocation the company suffered in the 2020 period resulting in a 22 percent fall in revenues and the small profit shown above. Salada does not sell to the end users so disruption in sales in one period may only be a shift from one period to the next. So it was not surprising the sales jump 29 in the second quarter last year to $353 million, with a profit of $51 million
The company suffered a reduced profit margin to 31.88 percent from 32.98 percent in the September 2021 quarter, but it is up substantially on the 25.5 percent in the December 2020 quarter. The September quarter had revenues of $300 million and profit of $41 million as such the improvement in profit margin wade the difference in the December quarter’s performance that had lower sales.
Administrative expenses rose 11 percent to $33.4 million from $30 million. Marketing and sales expenses increased 10 percent to $16 million. Finance income rose to $13 million from $1.25 million in 2020. Taxation on profits jumped from $4.6 million to $14 million.
Gross cash flow brought in $62 million and ended at $116 million after changes in working capital and after paying $57 million in dividends the company ended with $176 million in cash funds. At the end of the quarter, shareholders’ equity stands at $989 million with no borrowed funds used to fund the operations. Current assets ended at $1 billion, including inventories of $578 million. Net current assets ended the period $759 million well over Payables of $254 million.
Earnings per share came out at 4 cents for the quarter. The stock traded that was already highly overvalued at $6.90 was pushed up to an incredible $8.50 on Tuesday after the results were released on Monday on the Main Market of the Jamaica Stock Exchange with an elevated PE ratio of 42.5 times ICInsider.com forecast of 20 cents per share for the 2022 fiscal year’s earnings, well above the market average of 16.5.