Blog Page — Page 1415

JSE: Low trading

November 18, 2013 by IC Insider.com

Monday, 18th November 2013 | It was another slow trading day and low volumes on the Jamaica Stock Exchange. Scotia Group stood out while trading 2,294,482 shares valued at $40,156,819 with the final price ending at $17.50. No other stock came close to the volume or value of the Scotia trades. A total of 3,253,336 shares changed hands valued at $45,405,974 as the indices fell once more; the main market closing down 480.87 to 77,186.50; the all Jamaica index 75,996.40 down 835.97 and the junior market index down less than a percent to 712.08.

Overall 23 stocks traded with 8 declining and the price of 5 increasing.

Caribbean Cement traded 5,300 units to close down 35 cents at $2.35; Jamaica Broilers had 257,686 units as the price closed at $4.19 down 31 cents; Jamaica Money Market Brokers traded 53,600 shares to close at $7.90, up by 4 cents; Jamaica Producers 10,513 units were all traded at $18.25, unchanged from Friday’s close; National Commercial Bank struggled to trade 78,312 units as the price closed at $17.80, down 20 cents, but it traded as low as $16.75; Sagicor Life 57,000 units to close at $7.70; Supreme Ventures had 223,154 units trading at $2.59.

Jamaica Money Market Brokers 7.50% preference share traded 95,000 units firm at $2.

Eight stocks traded in the junior market but only three had any volume to write home about as Caribbean Producers Jamaica traded 20,477 at $1.92; Lasco Distributors 63,572 shares to close at $1.45 and Lasco Manufacturing 53,576 to close at $1.40.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed that there were bids for 6 stocks higher and 5 stocks with offers lower than their last selling price.

TTSE: Low Monday trades

November 18, 2013 by IC Insider.com

Monday, 18th November 2013 | Trading on the Trinidad Stock Market was moderate on the first business day of the week with only 375,130 shares being exchanged valued at $1,518,397 as 15 securities changed hands of which 2 advanced, 4 declined and 9 traded firm with no stock recording any noticeable price change.

Stocks that traded include First Citizens Bank with 5,023 units closing firm at $36; Firstcaribbean International Bank 2,343 units unchanged at $6.75; Jamaica Money Market Brokers 3,000 shares as the price gained 3 cents to end the day at $0.58; National Enterprises added 5,971 shares valued at $107,296 as the price closed firm at $17.97; Trinidad Cement exchanged 321,255 shares for $709,974 as the price closed at $2.21; National Flour Mills had 12,000 shares traded for $11,400 as it closed at 95 cents; Prestige Holdings contributed 6,111 shares with a value of $57,752, while the price closed up 2 cents at 95 cents. Grace Kennedy suffered a fall of 5 cents to close at $3.99 with only 297 units trading.

Clico Investment Fund had 18,000 shares valued at $387,000 changing hands as the price remained at $21.50.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed that there were bids for 2 stocks higher and 3 stocks with offers lower than their last selling price.

Image courtesy of watcharakun/FreeDigitalPhotos.net

Filed Under: Stock Market, TTSE Market Tagged With: Daily Trading, Trading Activity, TTSE

Profit blast at LASCO Distributors

November 18, 2013 by IC Insider.com

Lasco Distributors (LasD) posted profit of $139 million for the quarter to September this year compared to $54 million or an increase of 159 percent over the same period in 2012.

In the six months to September, profit of $303 million was up a strong 60 percent over September 2012, when $189 million was reported. The results flowed from revenues of $4.63 billion, an increase of 13 percent over the $4.1 billion generated in 2012. The quarterly revenue grew by 10 percent to $2.3 billion. The growth is likely to pick up as Lasco Manufacturing, its sister company, starts the role out of new products in November, which will be distributed by LasD.

Gross profit was $457 million compared to $362 million and gross profit margin was 24.5 percent, an improvement over the 20.7 percent in the similar quarter last year. For the six month’s period, gross profit margin was 24.8 percent compared to 23 percent in 2012. “There was an overall improvement in the company’s performance and recovery from the one off adjustment to cost of sales which occurred in the comparative period of 2012.” Management stated in their recent report to shareholders.

“The revenue and profit performance was due to increased volumes, aggressive marketing and trade activities and improvements in efficiencies” management further stated.

Operating cost rose just 5.2 percent for the half year, even less for the quarter at 3.4 percent, and was one reason for the jump in profit.

Outlook | IC Insider is forecasting earnings of 22 cents per share for the current year ending in March and 35 cents for the following year to March 2015. This puts the current PE around 7 times and just over 4 times for 2015. The forecast takes into consideration increased revenues as a result of new products to flow from the manufacturing company. Around 60 percent of the listed companies are valued lower than Lasco Distributors and only 4 junior market companies are valued higher, with 3 of them valued between 8 and 9.5 times this year’s earnings. As such the stock is one for accumulation than for rapid acquisition at this stage.

Asset size | Total assets grew by 29 percent to $3.29 billion in September compared to $2.55 billion in September 2012. The contributory factors were cash funds and investments which increased from $435 million in September 2012 to $1,029 million, Trade and Other Receivables increased from $1.23 billion in the prior year to $1.4 billion in September.

Trade and other payables increased from the prior year by $161 million to $1.49 billion this September. Shareholders’ equity amounted to $2.29 billion and borrowed funds amounted to only $15 million.

Lasco Distributors (LasD) is an IC Insider Buy Rated Stock.

Filed Under: Company News, Company Results Tagged With: JSE Company, Lasco

GSE: Stocks up 77%

November 16, 2013 by IC Insider.com

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The Ghana Stock Exchange is up 77.36 percent so far this year with the market index moving up to 2,127.79 points at the end of this week.

The financial index is at 1,778.22 points for a 71 percent gain for the year to date. During the week, only two stocks rose versus 6 that recorded declines, an unfavourable position compared to the prior week when there were 10 declining stocks to 8 that advanced. Changes in price was marginal in most cases during the past week.

HFC Bank Ltd, the bank that Trinidad’s Republic Bank has 40 percent ownership in, gained 6.4 percent during the week to close at GH¢0.83, the week before it gained 13 percent. Generally, price movements last week were more pronounced, ranging from a 25 percent drop in the price of Transol Solutions (Ghana), a 9 percent decline in Societe Generale Ghana and 6 percent fall in Ayrton Drugs Manufacturing Company and Ecobank Transnational and a 7 percent gain in Standard Chartered Bank Ghana Ltd.

Image courtesy of Domdeen/FreeDigitalPhotos.net

Filed Under: Global Market, Stock Market Tagged With: Ghana, Ghana Stock Exchange, Trading Activity

FX: Are rates topping out?

November 15, 2013 by IC Insider.com

Friday, 15th November 2013 | With just one month to the start of the winter tourist season and the advent of Christmas when the inflows of foreign exchange will increase, the question is whether the top of the foreign exchange market in terms of ratesvis near? The question is relevant in light of this week’s trading in the forex market where the rates have reflected a greater level of stability all week long.

The total foreign currencies traded on Friday amounted to the equivalent of US$24,561,809 and selling amounted to US$27,302,542. Currency denominated in US dollars amounted to $21,565,152 as the rate gained 8 cents to end at $104.97 and US$22,863,674 was sold with the rate gaining a cent to end at $105.59. The Canadian denominated currency traded C$1,128,401 as the rate gained 40 cents to close at $98.99 and C$750,162 was sold down 28 cents at $100.89. The British Pound purchases amounts to £1,114,892 but the rate fell $1.11 to end at $167.48 and selling was £1,994,243 for an increase of 17 cents, ending the day at $170.96.

Highs & Lows | The highest buying rate for the US dollar was $106.80, a gain of 15 cents but there was no change to the lowest buying rate of $ 85.50; the highest selling rate moved down by 58 cents to $108.99 and a large $16.94 decline to $85.46.

The highest buying rate for the Canadian dollar was $101.15, a decline of 85 cents with no change to the lowest rate of $79.93; the highest selling rate moved down by 16 cents to $103.34 and the lowest moved down by all of $14.41 to $81.89.

The highest buying rate for the British Pound was $171.00, a fall of a dollar and the lowest was up 62 cents up to $134.75. There was no change to the highest selling rate of $173.71 or the lowest of $162.35.

Image courtesy of StuartMiles/FreeDigitalPhotos.net

Filed Under: FX Market, Stock Market Tagged With: Daily Trading, FX Market, Trading Activity

PE Ratios: Trinidad still has good buys

November 15, 2013 by IC Insider.com

Friday, 15th November 2013 | The prices of a number of Trinidad stocks have been inching up ever since the First Citizens issue was listed on the exchange in September. However, even as the prices of several stocks have moved up, there are still a number of securities that are highly undervalued.

A look at the chart or graph below shows where the best opportunities lie. However, we must point out that Republic Bank selling at a PE of 16 is a very compelling buy, versus First Citizens’ 24 or Scotia Bank’s 23.

Trinidad Cement, in spite of climbing well over 100 percent since it hit bottom earlier this year and the reporting of below par third quarter numbers, is another compelling buy that we highly recommend to investors.

Image courtesy of Tungphoto/FreeDigitalPhotos.net

Filed Under: Company News, Stock Market, TTSE Market Tagged With: PE Ratios, Republic Bank, TCL, TTSE

Buy rated: Trini stocks top Jamaican

November 15, 2013 by IC Insider.com

Friday, 15th November 2013 | The IC Insider’s selection of Buy Rated stocks is unchanged at the end of the week as Jamaican listed stocks continue to under perform on the local market while in Trinidad, a number of the stocks continue to appreciate in value.

The latest mover is Republic Bank, which moved up to $115.01 at the end of the week; Neal & Massy moved up to $58 continuing its slow recovery from a fall a few weeks ago. The price is still 97 cents away from the point of selection.

In Jamaica, Scotia Group slipped back further on Friday and so did Sagicor Life, even as the news in Jamaica have been more positive than negative in recent months, although not wildly so. The junior market stocks have been holding their position even as a few recorded sharp declines since getting the Buy Rated accolade.

Related posts | Carib Cement & AMG now Buy Rated | Buy Rated bargains

The IC Insider’s Buy Rated seal of approval is given to a stock that we believe is a compelling buy with earnings that are strong relative to the price and strong prospects of generating high price gains within the next twelve months.

Our research is backed by published reports of the company’s performance and insights of future earnings that can be found at ICInsider.com. The final decision to buy, or not, is your personal choice.

To find published reports for a Buy Rated stock on IC Insider, please choose the category ‘Buy Rated’ under Company News or enter the company name, in full or part at ‘Search IC Insider’.

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Filed Under: Company News, JSE Main Market, Stock Market, TTSE Market Tagged With: TTSE

JSE: Sagicor X fund lists

November 15, 2013 by IC Insider.com

Friday, 15th November 2013 | Sagicor Real Estate X Fund, which went to the public in September to raise additional capital, started trading as the 67th listing on the Jamaica Stock Exchange for the first time on Friday. The shares rose 7 cents from the IPO price of $5 with 45,421 units changing hands at $5.07, to end the day at an all-time high.

Elsewhere, the market indices reflected the general negative tone with the JSE main index closing at 78,407.85, a decline of 465.90 and the all Jamaica Index slipped 809.94 to close at 76,832.37; the junior market index declined by 2.55 to close at 726.01.

There were 11 stocks declining in price with 4 advancing as 27 securities traded amounting to 2,066,618 shares valued at $26,406,422.

Main Market | Trading in the main market accounted for 407,782 Cable & Wireless shares, as it closed at 15 cents down a cent; Carreras 535,372 shares valued at $18.7 million with the price closing firm at $35; Gleaner with 63,007 units at a closing price of $1.11; Grace Kennedy with 13,316 units to close at $56.02 down $1.48; Jamaica Money Market Brokers 14,000 units at $7.86 down 15 cents; Jamaica Producers swapped 25,387 shares and closed unchanged at $18.25; Jamaica Stock Exchange had 5,000 shares trading as the price slipped 30 cents to close at$2.50, a new all-time low; National Commercial Bank fresh from reporting below expected profit in the September quarter, traded just 10,393 units and closed at $18, down 20 cents; Pan Jamaican Investment traded 34,720 units in closing firm at $48.05; Sagicor Life exchanged 20,850 shares with the price inched up a cent at $7.71; Scotia Group had 143,768 shares changing hands and closed at $17.52 down 48 cents; Supreme Ventures traded 30,706 units firm at $2.60 and Jamaica Money Market Brokers 7.50% swapped 50,000 units, unchanged at $2.

Junior market | There was trading of 7 companies’ shares with Dolphin Cove accounted for 8,630 units and closed 2 cents down at $8, in spite of the company posting increased profits of 78 percent for the September quarter and 27 percent for the nine months to September with year to date earnings coming in at 81 cents versus 63 cents in 2012. Jamaican Teas posted 7,374 shares and closed at $3.60; Lasco Distributors saw 473,400 units changing hands to close firm at $1.45; Lasco Financial Services traded 53,462 to close at $1 and Lasco Manufacturing exchanged 96,000 units as the price closed firm at $1.40.

IC bid-offer Indicator | At the end of trading, the bid-offer indicator showed that there were bids for 5 stocks higher and 5 stocks with offers lower than their last selling price.

Filed Under: JSE Main Market, Stock Market Tagged With: Daily Trading, JSE Company, Trading Activity

TTSE: Scotia at new 52 weeks high

November 15, 2013 by IC Insider.com

Friday, 15th November 2013 | Scotia closed at new 52 weeks high of $72.03 and has done so on several occasions this week when not many new highs were reached by others on the Trinidad Stock Exchange. Trading took place in 15 securities of which 2 advanced, 3 declined and 6 traded firm as 387,570 units valued at $10,037,110 changed hands.

ANSA McAL traded 82,045 shares for $5,439,300 as the price rose 6 cents to $66.30. Firstcaribbean International Bank traded 4,367 shares to close unchanged at $6.75; First Citizens traded 15,681 valued at $564,516 to closed unchanged at $36; Guardian Holdings added 6,414 shares valued at $95,825; Jamaica Money Market Brokers traded 130,500 shares with a value of $71,775 and closed at 55 cents, down 5 cents; Sagicor Financial Corporation traded 1,852 units to close firm at $7.25; Scotiabank traded 3,474 units and closed up 39 cents to end the day at $72.05 a new 52 weeks high. West Indian Tobacco traded 4,997 units to close firm at $120.00; One Caribbean Media dropped 20 cents to close at $18.10 with 325 shares trading.

Clico Investment Fund exchanged 137,895 shares valued at $2,964,743 but the price remained at $21.50.

IC bid-offer Indicator | At the end of trading, the bid-offer indicator showed that there were bids for 4 stocks higher and 3 stocks with offers lower than their last selling price.

Filed Under: Stock Market, TTSE Market Tagged With: Daily Trading, Trading Activity, TTSE

NCB cuts dividend 75%

November 15, 2013 by IC Insider.com

National Commercial Bank (NCB) reported bad news for investors on two fronts on Thursday when it released its full year results to September.

Not only was profit down, which was expected as a result of the write down of investment emanating from the NDX debt swap earlier in the year, but the final quarter results fell well below what was expected, from 92 cents in the June quarter and $1.10 in September 2012, to just 71 cents in the last quarter. The banking group chopped the final dividend payment for the year as well from 64 cents last year to just 16 cents. The latest announced dividend will be paid on December 12. The company’s pay-out ratio is just 18 percent, well below last year’s pay-out ratio of 34 percent and the company’s stated policy.

This year, NCB’s total payment will be 63 cents per share versus $1.40 last year unless they declare another one before year end, which they have done in the past.

In November last year, a dividend of 64 cents was paid compared to 34 cents paid at the same time in 2011. The dividend pay-out ratio for the 2012 financial year to September amounted to 27% and for the 2011 financial year 25.7%, compared to 42.2% for September 2010.

In August, NCB paid a dividend of just 8 cents, on May 24, a dividend of 16 cents per share was paid and 23 cents in March. The August payment represents a decrease from 17 cents paid in 2012 while the May 2013 payment represents a decrease from 21 cents paid in May last year. The March payment compares to 38 cents paid in January 2012.

The cut and carving of dividend payments from one period to the next is in keeping with an unpredictable policy the company has been executing even after repeating a previously announced policy fairly recently. The execution is in stark contrast with a very consistent and predictable policy of Scotia Group and many other companies on the stock exchange.

Related posts | NCB cuts dividend in half | NCB recovers from NDX hit

Filed Under: Company News, Dividends Tagged With: Dividends, JSE Company, NCB