Scotiabank did not trade on Tuesday but seems set for a big drop when next it trades, unless someone intervenes at a higher price than the last. The stock closed with an offer to sell 280 shares at $66.99 well off the last selling price of $68.37.
The bank’s stock has been weak since they reported lower half year results, at the end of May.
Trading on the Trinidad stock market resulted in 13 securities changing hands of which 2 advanced, 3 declined and 8 traded firm, with 771,780 shares changing hands, with a value of $6,307,843.
The Composite Index rose 0.11 points to close at 1,164.86, the All T&T Index advanced by 0.48 points to close at 2,009.39 and the Cross Listed Index fell 0.03 points to 41.94.
Gains| Stocks increasing in price at the close are, First Citizens with 6,442 units and gained 8 cents to close at $35.40 and Unilever Caribbean gained 19 cents to end the day at $62.75 while trading just 25 shares, for a new 52 weeks high.
Declines| The stocks declining at the end of trading, are Clico Investment Fund with 58,100 shares valued at $1,260,075, the price fell by 1 cent to end at $21.68, Readymix (West Indies) lost 33 cents to close at $19 a new 52 weeks low, with only 50 units trading and Sagicor Financial that saw 15,299 shares changing hands, the price fell 4 cents to $6.70.
Firm Trades| Stocks closing with prices unchanged at the end of trading, are Ansa Mcal with 224 shares, closed at $66.30, Firstcaribbean International Bank contributed 24,121 shares with a value of $120,605, to close at $5, Guardian Holdings with 257,302 shares traded for $3,705,149, closed at $14.40, Massy Group traded 1,894 units to close at $69.40, National Enterprises with 15,355 units, ended at $18.24, National Flour Mills with 367,432 shares changing hands for a value of $367,432, closed at $1, followed by while Point Lisas Industrial Port Development that added 20,536 shares valued at $85,224, and closed at $4.15, Trinidad Cement traded 5,000 units to close at $1.95
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 3 stocks with bids higher than their last selling prices and 2 stocks with offers that were lower.
Scotiabank set for more fall on TTSE
Scotiabank down again on TTSE
Scotiabank closed lower by 4 cents to close at a 52 weeks low, in Monday’s trading levels on the Trinidad Stock Exchange while trading a small volume.
At the end of trading the offer was to sell 5,966 shares at $68.36 and buying at was for only 50 shares at $65. There was activity with 13 securities changing hands of which 2 advanced 4 declined and 7 traded firm with 103,932 stocks changing hands, with a value of $1,806,044.
The Composite Index lost 0.10 points to close at 1,164.75, the All T&T Index rose by just 0.13 points to close at 2,008.91 and the Cross Listed Index fell by a mere 0.05 points to end at 41.97.
Gains|Stocks increasing in price at the close are Ansa Merchant Bank traded 27 shares to close at $39.07, up a cent and First Citizens Bank added 4,045 shares valued at $142,865 and closed with a 2 cents gain to end the day at $35.32
Declines| The stocks declining at the end of trading are ANSA McAL closed trading at $66.29 after losing a cent with 1,500 units having changed hands, Clico Investment Fund traded 2,172 shares valued at $47,091 declined by 16 cents to end at $21.69, Massy Group with 60 shares traded, closed down a cent at $69.49 and Scotiabank traded 2,500 shares at $68.37 closed lower by 4 cents.
Firm Trades| Stocks closing with prices unchanged at the end of trading are Firstcaribbean International Bank traded 1,489 shares to close at $5 Guardian Holdings contributed 8,602 shares with a value of $123,869, Guardian Media with 58,437 shares changing hands for a value of $1,154,331 closed at $19.75, National Flour Mills with 3,000 shares changing hands closed $1, Sagicor Financial Corporation with 1,600 units closed at $6.74, Point Lisas Industrial Port Development traded 500 shares to close at $4.15 followed by Trinidad Cement with 20,000 shares being traded for $39,000, to close at $1.95.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 2 stocks with the bid higher than the last selling price and 3 stocks with offers that were lower.
Scotiabank stock continues slide on TTSE
Trading levels on the Trinidad stock market Scotiabank stock fell to a new 52 weeks low but seems headed lower based on the offer that is lower than the last selling price and the lack of meaningful bids.
At the end of trading 13 securities changed hands of which 2 advanced, 2 declined and 9 traded firm, with a volume of 425,677 stocks changing hands, with a value of $1,513,718.
The Composite Index lost 0.10 points to close at 1,165.10, the All T&T Index rose fell by just 0.19 points to close at 2,011.21 and the Cross Listed Index remained at 41.76.
Gains| Clico Investment Fund with 31,000 shares changing hands valued at $671,691 but the price was up 2 cents at $21.67 and Trinidad Cement with 166,955 shares changing hands valued at $325,562 close 5 cents higher at $1.95.
Declines| The stocks declining at the end of trading, are Grace Kennedy in trading 13,209 shares, the price lost a cent to close at $3.44 and Scotiabank declined by 8 cents, to end the day at $68.65, for a new 52 weeks low, while trading only 71 shares.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, Ansa Mcal with 1,150 shares traded, closed at $66.30, to be followed by First Citizens Bank with 2,737 units, to close at $35.02, Jamaica Money Market Brokers contributed 81,000 shares with a value of $36,450 to close at 45 cents, while Massy Group traded just 256 shares to close at $69.50, National Enterprises had 322 shares changing hands, to end at $18.24, National Flour Mills added 21,043 shares valued at $21,043, to close at $1, One Caribbean Media 282 units to close at $25, Praetorian Property Fund 19,898 units to end at $3.55 and Scotia Investments closed at $1.54 with a volume of 87,754 shares traded valued at $135,141.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with the bids higher than their last selling prices and 3 stocks with offers that were lower.
Little price changes on TTSE Monday
Trading on the Trinidad stock market on Monday, accounted for 15 securities changing hands of which 2 advanced, 3 declined and 10 traded firm, with 299,354 stocks changing hands, with a value of $5,664,767.
The Composite Index lost 0.03 points to close at 1,165.20, the All T&T Index was unchanged at 2,011.40 points and the Cross Listed Index fell a mere 0.01 points, to end at 41.76.
Gains| Stocks increasing in price at the close are Guardian Holdings which contributed 27,157 shares valued at $388,617 to close 1 cent up, at $14.31 and Trinidad Cement enjoyed a gain of 3 cents to end the day at $1.93 while trading 1,730 shares.
Declines| The stocks declining at the end of trading are, Clico Investment Fund that traded 136,940 shares valued at $2,967,914, but the price close with a loss of a cent at $21.65, National Enterprises traded 1,078 units to close with a 1 cent loss at $18.24 and Scotia Investments with 1,000 shares changing hands lost a cent and closed at $1.54.
Firm Trades| Stocks closing with prices unchanged at the end of trading, are Firstcaribbean International Bank 8,713 units to close at $5, First Citizens Bank with 7,847 units, to close at $35.02, Grace Kennedy with 43,430 shares changing hands, for a value of $149,699, to close at $3.45, followed by Jamaica Money Market Brokers with 18,500 shares, to close at 45 cents, Massy Group with 35 units to close at $69.50, National Commercial Bank with 31,000 shares changed hands for $33,790, to close at $1.09, Prestige Holdings closed at $9.41 with 150 units, National Flour Mills closed at $1 while trading 7,000 shares, Republic Bank saw 4,774 units changing hands to close at $122.05 and West Indian Tobacco 10,000 units to close at $118.
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 3 stocks with offers that were lower.
One Caribbean jumps to $25 – a hold
One Caribbean is no longer a recommended Buy Rated currently based on the jump to $25 per share this week, but seems to be a hold based on the reading of the Trinidad Stock market where it looks as if it should rise some more.
Since July 5 last year when IC Insider gave the stock in the Buy Rated category it has moved up 43 percent and now enjoys a PE ratio of 17.7 compared with 12.6 last year July.
Elsewhere Trinidad Cement slipped to $1.90 making it more attractive, even as there is talk of major changes in directorship. Massy Group continues its slow gain as well as Republic Bank but they as well as a number of others remain attractively priced for good gains in the period ahead as they are undervalued.
Why PE?| 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 determine which ones are to be bought, sold or held. When the market moves markedly away from the norm it is usually time for investors to move, the PE ratio is a good tool to measure such extremes.
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.
Attractive PE for Trinidad stocks
Massy Group gained 25 cents to end the week at a new 52 weeks high of $69.25 but there was little change in the 100 percent potential gains that lie ahead, Republic Bank moved to a new 52 weeks high at $122 which barely dented the 40 percent potential gains ahead.
Scotiabank fell to new 52 weeks low, to end at $69 but is not currently a buy and investors seem right to take some profit at this time. Flavorite became slightly less overvalued by slipping sharply to $5.75 by week end. Elsewhere not mush change took place but the Trinidad market has several stocks that are priced at a PE that are well below the market average, offering investors good potential gains in the months ahead.
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.
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.
Massy Group at new high
Massy Group traded at new 52 weeks high at the end of trading for the week as the stock continues to eke away at its severe undervaluation. Overall trading on the Trinidad stock market on Friday resulted in 14 securities changing hands of which 2 advanced, 3 declined and 9 traded firm with 256,628 stocks changing hands, with a value of $3,495,856.
The Composite Index lost 0.90 points to close at 1,164.59, the All T&T Index fell by just 0.54 points to close at 2,009.28 and the Cross Listed Index eased by a mere 0.17 points to end at 41.88 points.
Gains| Stocks increasing in price at the close are, Grace Kennedy which saw just 735 units changing hands, 4 cents higher, at $3.45 and Massy Group gained 18 cents to end the day at a new 52 weeks high of $69.25 but with only 300 units trading.
Declines| The stocks declining at the end of trading are Clico Investment Fund in posting 65,241 shares valued at $1,412,468, the price fell a cent to end at $21.65, National Commercial Bank contributed 35,633 shares with a value of $39,356 and dropped 3 cents in closing at $1.10, while Scotiabank suffered a loss of 25 cents to close at $69 with 100 units traded at a new 52 weeks low.
Firm Trades| Stocks closing with prices unchanged at the end of trading are ANSA Mcal with 9,352 units to close at $66.29, Firstcaribbean International Bank 4,403 shares to close at $5, First Citizens Bank 10,106 shares at $35, Guardian Holdings with 48,043 shares traded for $687,015, closed at $14.30 while National Enterprises with 5,905 units ended at $18.25, Republic Bank with 474 shares to close at $122, Scotia Investments added 21,266 shares valued at $32,962, to close at $1.55, Trinidad Cement had 54,853 shares changing hands for a value of $106,963 to close at $1.95 and West Indian Tobacco with 217 shares closed at $118
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 2 stocks with bids higher than their last selling price and 3 stocks with offers that were lower.
Two new highs on T&TSE
Trading levels on the Trinidad stock market was moderate on Thursday. 14 securities traded of which 3 advanced, 2 declined and 9 traded firm with two new highs at the end of trading as 226,207 units changed hands, with a value of $4,965,200.The Composite Index lost 3.53 points to close at 1,165.49, the All T&T Index fell by 6.34 points to close at 2,009.82 points and the Cross Listed Index fell by 0.09 points to close at 42.05.
Gains| Stocks increasing in price at the close, are Clico Investment Fund trading 79,033 shares valued at $1,710,341, the price advanced by 9 cents to end at $21.64, buy rated Massy Group, traded 618 units at $69.07 as the price gained 2 cents to land it at a new 52 weeks high and One Caribbean Media traded 394 shares to close $23.13 with a 2 cents gain at a new 52 weeks high.
Declines| The stocks declining at the end of trading are National Enterprises that suffered a loss of 51 cents to close at $18.25 while trading only 100 shares and Sagicor Financial Corporation with 52,420 shares trading for $343,129 and lost 11 cents to close at $6.55.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, Agostini’s with 79 units in closing at $17.48, ANSA Mcal 20 shares to close at $66.29, First Citizens Bank 4,539 shares changing hands to close at $35, Guardian Holdings with 3,670 shares traded, to close at $14.30, Flavorite Foods 100 units at $5.75, Angostura Holdings with 100 shares at $13, Jamaica Money Market Brokers added 10,000 shares as the price closed at 45 cents followed by Republic Bank that contributed 20,837 shares with a value of $2,542,114 and closed at $122, while Trinidad Cement with 54,297 shares changing hands for a value of $105,880, closed at $1.95.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator showed 2 stocks with bids higher than the last selling price and 2 stocks with offers that were lower.
First Citizens PE more attractive
First Citizens made the sharpest price movement during the week as it dropped back sharply, ending back at $35 compared with $37.43 at the end of the previous week. The fall has raised the attractiveness of the stock giving it a 70 percent potential gain. 
Elsewhere not mush change took place more, but a number of stocks continue to post higher highs during the week as they eke away at the potential gains they have been showing. 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.
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.
The price earnings ratio| The PE 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.
Why NCB deserves a look now
National Commercial Bank (NCB)shares may not be trading in droves recently with the price tending to trade around $17 since early May but investors may be missing a great buying opportunity with a stock that is seriously undervalued.
In Trinidad the stock closed as low as TT$1.04 recently but has moved up to $1.10 on Friday and seems poised to go higher. The bid in Trinidad on Friday close was $1.10 (J$19.20) to buy 22,933 units with an offer of 26,000 units at $1.14. On Wednesday the stock traded 69,456 units at $1.08 and gained 2 cents in the process. On Friday 21,322 traded in Jamaica at $18.01 each and 1,396,013 on Thursday between $17 and $18.03. Wednesday saw 21,595 units being traded between $17.30 and $19. One important factor is that the stock is not in great supply.
But it’s the order book on the Jamaica Stock exchange that is sending a strong message to buy coupled with is a year when the results should help stimulate the stock price higher. There are only 280,000 shares on offer in the market but the buying interest is not particularly strong. With the pickup in trading in Trinidad, the price in Jamaica could get a lift and with third quarter results to June which are due in the last week in July, that could strengthen investor’s appetite for the stock and give it a badly need push.
IC Insider forecast earnings of $5 per share for the current year, so far NCB reported earnings of $2.38. For the first 6 months of the fiscal year.
