Buy Rated blooming

June 1, 2015 by

Hardware & Lumber with its Rapid True Value retail arm gained 291% since place on BUY RATED list

Hardware & Lumber with its Rapid True Value retail arm gained 291% since place on BUY RATED list

Last year was not a great year for IC Insider Buy Rated stocks but quite a number did well, particularly those of the junior market. The same can’t be said for 2015, except in the case of Trinidad stocks that are under pressure mostly from flat earnings and rising interest rates in that country.
Trinidadian stocks have hardly gone anywhere the Jamaican ones are soaring after a long period of drought. There are three triple winners in the main Jamaican market including Hardware and lumber that is up 291 percent since we selected it as Buy Rated. Interestingly, they are no losing stocks in this market. The junior stocks have erased most of the losses suffered earlier and now only two stocks record any losses. Technical indicators are pointing to BUY Rated 5-15the Jamaican rally continuing for the rest of the year with lower inflation and interest rates coupled with continued strong profit gains. Trinidad stocks will continue to be under pressure but there are a few severely undervalued ones in that market that could post decent gains in the months ahead.
Access still has further to go as the future looks good for growth in profits but the price of the stock could be trading around current levels for some time but there is limited volumes available, this one becomes a longer term buy with the price where is currently lies. Caribbean Cream and Paramount seems to have quite some gains to deliver in the months ahead as improving results encourage investors to buy into the growth prospects. Lasco Financial could be going anywhere with Mayberry buying 20 percent and buying more in the market of a stock with limited float and Medical Disposables has good potential to deliver a decent gain.
The main market may have had lots of gains so far but there is much more to come from even some of the top performers such as Jamaica Stock Exchange, National Commercial Bank, Caribbean Cement and Carreras to name a few. Over in Trinidad, Guardian Holdings is undervalued but National Flour is severely undervalued, Trinidad Cement is a huge buy with much upside potential especially with debt restructuring leading to lower interest cost and lower energy cost in Jamaica and Barbados.

Filed Under: Buy Rated Tagged With: , , , , , , , , , , , , ,

GOJ enjoys lower Interest cost

May 31, 2015 by

Jamaica's Ministry of Finance newest office building

Jamaica’s Ministry of Finance newest office building

The payment for interest on the country’s huge national debt in April by the government of Jamaica ended at $900 million less than budgeted. The total amount paid is also less than that paid in April last year.
Interest payments amount to $7.376 billion compared with $8.168 billion budgeted and is down on the $7.875 billion paid in 2014. The expenditure saw a near $1 billion savings from the budgeted amount for local debt of $4.588 billion, compared to the budgeted sum of $4.547 billion, there was a slight increase in the cost of foreign debt to $2.788 billion, versus $2.621 billion budgeted.
The fall in the interest cost on the local debt would have occurred as a result of Treasury bill rates having fallen at the time the budget was crafted and April, with government having variable rate instruments funding its operations. The cut in the cost amounts to a large 20 percent and if the savings were to continue for the rest of the fiscal year, the savings could be around $12 billion on the amount of $63 billion allocated to pay interest on the local debt.
Overall revenues collected by government was $28.26 billion, a shade less than forecast at $28.6 billion while recurrent expenditures of $41.56 billion were under budget of $42.77 billion. The short fall in revenues is due to the absence of bauxite levy of $147 million budgeted and grants that came in at only $67 million versus $665 million in the budget.

Filed Under: Economy, Feature Stories Tagged With: , ,

Witco ekes out small profit gain

May 30, 2015 by

WITCO_Tobacco280x150Trinidad’s West Indian Tobacco recorded an increase of 6.9 percent in profit before taxation of TT$136.8 million, for the three months ended March 2015, over the corresponding period in 2014.
Profit after taxation for the period came in at $98.2 million, reflecting an increase of just 1.5% over 2014. The Company paid $3.3 million under a tax amnesty, in respect of an ongoing matter taxation relating to the company being slapped with additional taxes imposed by the ta authority after an audit.
The improvement in profit arose from an increase in revenues to TT$223.5 million, a slight increase over the $215 million reported in the first quarter of 2014 net of excise duty. The company increased the prices on its products late in 2014, the increase revenues suggest that there has been some fall out in sale volumes as a result, but the company benefited from reduced cost other than cost of sales amounting to $$3.5 million. Earnings per share came out at $1.17, based on the results the Board approved the payment of a first interim dividend of $1 per ordinary share, paid in May 2015.
Based on last year’s results, the first quarter is the one with the lowest profit and the last quarter with the Christmas celebration is the best, the company should therefore go on to better the $5.81 earned last year, to end around $6.50 per share.
The stock closed on the Trinidad and Tobago Stock Exchange at $125.31 on Friday at PE ratio around 19 times this year’s estimated earnings.

Filed Under: Company News, Company Results, Dividends Tagged With:

Prices up prices down index gains

May 29, 2015 by
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Sagicor traded 5.36 million shares on Friday

Sagicor traded 5.36 million shares on Friday

The Jamaica Stock Exchange ended the week on a positive note with most prices for stocks rising and new highs still being recorded, resulting in the prices of 14 stocks rising, 10 declining as 35 securities changed hands, ending in 17,846,913 units trading, valued at $135,894,171, in all market segments.
Hardware & Lumber closed at a new 52 weeks’ high of $18, Jamaica Stocks Exchange closed at an all-time high of $4 and Scotia Investments also closed at a new high of $30 after jumping $3.70 but with limited volume and Palace Amusement traded at $60 for a new 52 weeks’ low.
JSE sum 29-5-15TheJSE Market Index gained 451.19 points to 98,766.37, theJSE All Jamaican Composite index rose 504.32 points to close at 109,333.21 and the JSE combined index put on 439.21 points to end at 101,019.67.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator continues to reflect a market that has a upward bias with 11 stocks with bids higher than their last selling prices and just 2 with offers that were lower.
Barita Investments traded 134,024 shares at $2.50 but closed with the bid at $2.55 to buy 11,765 shares, Carreras traded 160,324 shares with the price rising to $50 from $49 on Thursday after the company announced a $2 dividend. The stock traded as high as $51.06 for an intraday 52 weeks’ high. Caribbean Cement slipped 40 cents to close at $4.60 with 12,000 units changing hands. Desnoes & Geddes had 62,181 shares trading, to close 12 cents lower at $7.38, Grace Kennedy with 20,682 units changing hands, closed with a loss of 50 cents at $63. Jamaica Broilers shared 1,284,333 units at 20 cents higher, than on JSE fn Qts 29-5-15Thursday, at $5.50, Jamaica Stock Exchange had 1 million units changing hands in one trade, to close at $4, the stock closed without an offer. JMMB Group enjoyed trading in 171,384 shares to end at $9, Mayberry Investments had 37,164 units changing hands between $3.16 and the ending price, of $3. National Commercial Bank closed at $29.57 after losing 53 cents, Palace Amusement traded 566 shares and fell by $20 to $60, Sagicor Group had another heavy day of trading with 5,359,993 units changing hands and Scotia Group traded 14,391 units at $25.05 for a 45 cents decline.
In the preference sector, Jamaica Money Market Brokers 7.50% preference share traded 429,000 units at $2.30, Jamaica Money Market Brokers 8.75% preference shares 370,000 units at $3.02.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , ,

7 stocks up 2 down on TTSE

May 29, 2015 by

National Flour closed at a 52 weeks high on Friday of $1.77.

National Flour closed at a 52 weeks high on Friday of $1.77.

Trading on the Trinidad Stock Exchange ended the month on a positive note with more stocks rising than falling and with 15 securities changing hands of which 7 advanced, 2 declined and 6 traded firm with a total of 1,318,965 units, valued at $24,661,499.
At the close of the market, the Composite Index lost 6.01 points to close at 1,159.92, the All T&T Index rose by just 0.10 points to close at 1,968.67 and the Cross Listed Index fell 1.62 points to end at 46.08.
Gains| Stocks increasing in price at the close are, Grace Kennedy with 97,780 shares trading for $349,075 and gaining 1 cent, in closing at $3.57. IC Insider Buy Rated National Flour Mills, gained 4 cents to end the day at a new 52 weeks’ high of $1.77, with only 120 shares trading as investors continue to respond to increased profits for the company, followed by Sagicor Financial Corporation in contributing 27,400 shares with a value of $165,246, to gain of 2 cents to $6.04. Scotiabank with 677 shares trading, closed with a gain of 1 cent at $62.54. Scotia Investments traded 1,000 shares, to gain 2 cents to close at $1.49, Unilever Caribbean with 100 shares changing hands closed with an increase of 1 cent to end at a new 52 weeks’ high of $66.15 and West Indian Tobacco ended with 194 units trading at $125.31 with a 3 cents increase.
TTSE 29-5-15 Declines| The stocks declining at the end of trading are, ANSA Mcal with 149 shares trading ended at $67.054 having lost 1 cent and Prestige Holding traded 550 shares to close with a loss of 9 cents at $9.90.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, Ansa Merchant Bank contributed 940 shares with the price closing unchanged at $38.92. Clico Investment Fund with 1,019,235 shares valued at $22,983,749 and remained at $22.55 while First Citizens Bank added 12,072 shares valued at $432,178 to close at $35.80. National Enterprises traded 1,200 units to close at $17.20, National Commercial Bank with 152,500 shares changing hands for a value of $260,050 closed at $1.90 but traded as low as $1.70 and Massy Holdings traded 5,048 shares valued at $323,577 to close at $64.10.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 2 stocks with the bid higher than their last selling prices and 1 stock with a lower offer.

Filed Under: Stock Market, TTSE Market Tagged With: , , , , , , , , , , , , ,

J$ mostly stable on Friday

May 29, 2015 by

FXtrading600x250 Purchase of all currencies by dealers, amounted to the equivalent of US$35,027,214 on Friday compared with US$35,830,645, on Thursday they sold the equivalent of US$37,165,779 versus sale of US$40,929,461 previously, as the Jamaican was fairly stable in trading.
In US dollar trading, dealers bought US$31,693,062 compared to US$31,357,331 on Thursday. The buying rate for the US dollar is up 4 cents at $115.64 and US$35,366,192 was sold versus US$37,143,967 on Thursday, the selling rate is unchanged at $116.12. The Canadian dollar buying rate fell $1.25 to $90.92 with dealers buying C$1,102,498 and selling C$1,073,281, at an average rate that inched down 1 cent to $93.16. FX sum 29-5-15The rate for buying the British Pound dropped 75 cents to $175.96 for the purchase of £1,481,732, while £446,276, was sold, at an average rate that rose 16 cents to $177.57. At the end of trading it took J$126.78 to purchase the Euro, 51 cents more than on Thursday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$124.33 for 49 cents more than Thursday’s rate. Other currencies bought, amounted to the equivalent of US$212,700, while the equivalent of US$256,063, was sold.
Highs & Lows| The highest buying rate for the US dollar, remained at $116.30 and so did the lowest buying rate that traded at $94.98 and the highest selling rate that remained unchanged at $121.71. The lowest selling rate jumped $21.80 to $113.30. The highest buying rate for the Canadian dollar fell 20 cents to $93.05. FX HL 29-5-15The lowest buying rate declined 21 cents to $73.70, the highest selling rate rose 40 cents to $96.90 and the lowest selling rate gained 70 cents to $90. The highest buying rate for the British Pound, declined 49 cents to $178.55, the lowest buying rate closed at $142.43, down 50 cents, the highest selling rate dropped $3.31 to $180.79 with the lowest selling rate falling 28 cents to $170.72.

Filed Under: FX Market, Stock Market Tagged With: , , , , , ,

Juniors trade 8.66 million shares

May 29, 2015 by

Caribbean Cream traded 5.3 million shares with the audited accounts showing profit rising 62%.

Caribbean Cream traded 5.3 million shares with the audited accounts showing profit rising 62%.

Caribbean Cream was the dominant trade on Thursday on the Junior Market with 5.3 million units as investors responded positively to the company’s audited results showing a 62 percent increase in profit versus 40 percent shown in the preliminary interim report that was released previously. Also trading in large volume was Caribbean Producers with 2.7 million shares.
Trading ended with 9 securities being active and cumulating in 8,660,524 units changing hands valued at $14,662,200. The JSE Junior Market Index gained 1.53 points to close at 871.93, with the price of 5 stocks advancing and only 1 declining and 1 closing at 52 weeks’ high.
At the close of the market, there were 8 stocks with bids higher than their last selling prices and none with a lower offer. The junior market ended with 3 securities closing with no bids to buy and 10 securities that had no stocks being offered for sale.
Caribbean Producers with 2,723,803 shares trading, ended lower by 10 cents to $2.80, JM 29-5-15In trading, Caribbean Cream closed with 5,300,365 units trading, the price rose by 5 cents to $1.15. Blue Power closed with 19,573 shares trading unchanged at $9.50, Cargo Handlers finished with 1,000 units to close at $22.28, Dolphin Cove finished trading with 4,333 shares at $10.25 with a gain of 25 cents. Jamaican Teas had activity in 15,000 shares and closed unchanged at $3.50, KLE Group traded 135,446 shares for 9 cents higher, at 84 cents, Lasco Financial Services traded 250,000 units at a new closing all-time high of $1.66, after adding 9 cents and Lasco Manufacturing ended trading with 211,004 units, the price rose 4 cents to close at $1.29.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , ,

Kremi leads them

May 29, 2015 by

Caribbean Cream is leading trading with 1.3 million units JSE int 29-5-15trading out of a total of 2.46 million units of that have traded with an hour and a half of trading. Investors were responding to the company’s audited accounts showing a 62 percent increase in profit versus 40 percent shown in the preliminary interim report earlier. The Jamaica Stock Exchange had 22 securities trading at 11 on Thursday accounting for 2.5 million units. The All Jamaican Composite Index is up 465.03 points 109,293.92, the JSE index is at 98,731.22 gained 416.04 points and the junior market index rose 2.16 to 872.56 so far 7 stocks recorded gains versus 3 that are down including Palace which fell 20 to $60 with small volume. There were 6 securities traded in the junior market and 16 in the main and US dollar market
In trading, Carreras traded 48,324 with the price rising to $50 from $49 on Thursday after the company announced a $2 dividend, there is currently a bid to buy at $50.11. Barita Investments traded 134,024 shares at $2.50, Jamaica Money Market Brokers 7.50% preference share traded 429,000 units at $2.30, Jamaica Money Market Brokers 8.75% preference shares 370,000 units at $3.02.

Filed Under: JSE Main Market, Stock Market Tagged With: , , ,

Sagicor stole show with 11.4m Shares

May 28, 2015 by

Sagicor Group 

Sagicor Group had 11,418,503 shares trading at $11.52 as Sagicor Investments was the only broker trading the stock on behalf of clients, as well as some being bought for in house inventory purposes.
Activity on the overall market resulted in the prices of 18 stocks rising, 8 declining as 37 securities changed hands, ending in 15,580,599 units trading, valued at $163,455,688, in all market segments.
The JSE Market Index gained 621.20 lost points to 98,315.18, the JSE All Jamaican Composite index rose 694.34 points to close at 108,828.89 and the JSE combined index gained 600.84 points to end at 100,580.46.
JSE 28-5-15 IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows only 6 stocks with bids higher than their last selling prices and 3 with offers that were lower.
In trading, Barita Investments exchanged 77,159 shares to close at $2.50, after shedding 20 cents, Cable & Wireless traded 353,348 units at 50 cents at the close Caribbean Cement had 102,760 shares changing hands at $5, to gain 60 cents at the close, but traded as low as $4.40. Carreras had 104,150 units trading unchanged at $49, Desnoes & Geddes gained 15 cents in trading 12,500 units at $7.50. Gleaner closed up 14 cents as 25,811 units changed hands at $1.10.JSe fn Qts 28-5-15 All the Jamaica Producers’ 36,937 shares traded at $18.55, Jamaica Stock Exchange traded at a new all-time high of $3.65 with 10,000 units, Margaritaville traded 89,180 units at 10.5 US cents up from 10 US cents, Mayberry Investments traded 98,500 at $3, National Commercial Bank traded 15,647 shares to close with a gain of 53 cents at $30.10. Proven Investments ended with 18,320 units as the price rose to 20.99 US cents, followed by Sagicor Real Estate Fund with 202,000 shares at $7.51, Scotia Group had 673,965 shares changing hands at $25.50 and Jamaica Money Market Brokers 8.75% preference shares with 289,776 units at $3.02.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , ,

J$ suffers losses on Thursday

May 28, 2015 by

US$Sheet280x150px Purchase of all currencies by dealers, amounted to the equivalent of US$35,830,645 on Thursday compared with US$34,384,758, on Wednesday they sold the equivalent of US$40,929,461 versus sale of US$41,745,870 previously, as the Jamaican suffered mostly losses in trading.
In US dollar trading, dealers bought US$31,357,331 compared to US$30,900,997 on Wednesday. The buying rate for the US dollar was unchanged at $115.60 and US$37,143,967 was sold versus US$39,876,181 on Wednesday, the selling rate rose 1 cent to end at $116.12. FX sum 28-5-15The Canadian dollar buying rate rose $1.03 to $92.17 with dealers buying C$2,528,148 and selling C$3,242,100, at an average rate that inched up 12 cents to $93.17. The rate for buying the British Pound gained $1.10 to $176.71 for the purchase of £1,514,771, while £460,679, was sold, at an average rate that slipped 41 cents to $177.41. At the end of trading it took J$126.27 to purchase the Euro, 26 cents less than on Wednesday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$123.83 for a fall of 9 cents from Wednesday’s rate. Other currencies bought, amounted to the equivalent of US$141,955, while the equivalent of US$480,139, was sold.
Highs & Lows| The highest buying rate for the US dollar, fell 70 cent to $116.30. The lowest buying rate jumped $5.29 to $94.98, but the highest selling rate was unchanged at $121.71 and the lowest selling rate dropped $21.80 to $91.50. FX hl 28-5-15The highest buying rate for the Canadian dollar fell just 5 cents to $93.25. The lowest buying rate declined 29 cents to $73.91, the highest selling rate remained at $96.50 and the lowest selling rate fell 10 cents to $89.30. The highest buying rate for the British Pound, declined 10 cents to $179.04, the lowest buying rate closed at $142.93, down 37 cents, the highest selling rate dropped 64 cents to $ 184.10 with the lowest selling rate falling $1.65 to $171.

Filed Under: FX Market, Stock Market Tagged With: , , , , ,
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