Blue Power back in TOP stocks

Blue Power seems ripe for a stock split.

In another shortened trading week on the Jamaica Stock Exchange, there was only one new entry to the TOP 10 listings. Lasco Distributors rose to $7.29 at the end of the week and was replaced by former top tenner Blue Power that remains a prime candidate for s stock split.
NCB Financial Group which IC said last week was worth watching, hit an all-time high of $75 but did not hold at that level and ended the week at $65 as some supply come to the market. Berger Paints is another stock that IC said was worth watching pulled back during the week to make it more attractive.
The average PE ratio of the Junior Market are currently at an average of 12 and the main market at 13 based on this year’s estimated. At the close of the week, IC’s TOP 10 Junior Market stocks continue to trade at an average discount of just under 35 percent to the Junior Market average, those in the main market are trading at a 52 percent discount, to the average of the market, leaving several stocks with good room for growth for the rest of the year.
The coming week should be dominated by the release of 2017 second quarter results for NCB Financial Group and the announcement of a dividend payment. IC projects an increase in the payment based on increased profits.
Overall, bid volumes for junior market stocks remained low excepting for Caribbean Cream, with 181,732 units on the bid at $7.50, Key Insurance with 72,023 units at $3.05, Jamaican Teas with 68,000 shares with a bid of $4.60, and the next highest being Lasco Financial with 22,352 units at $4. Offers are buoyant with 2.7 million units being offered for Eppley at $12, over 400,000 for C2W Music at 50 cents, 200,000 for Jamaican Teas at $4.99, Knutsford Express with a bid of $41 for 229,236 shares and 140,000 shares of Lasco Manufacturing at $6.
Brokerage house, Barita Investments ended the week with 90,004 units offered at $7.10 and only 100 units on the bid of $7, Berger Paints ended the week with an offer of 24,070 units at $14.15 while 3,850 units are on the bid at $13.52. Caribbean Cement continues to trade with a heavy sell bias notwithstanding evidence of increased building activity and that this year’s first quarter results could be out at any time to provide direction for the stock. The cement producer had a bid to buy 27,600 units at $31 and offers of 67,879 shares at $32. JMMB Group’s buying interest picked up his past week and now has a bid at $19 to buy 256,195 units with an offer to sell 50,000 shares at $19.50, NCB Financial Group closed the week with a bid to buy only 1,400 shares at $65, with 261,390 units on offer at $65. Pulse Investments has offers to sell 98,000 units at $8.05 with buying at $7 for 1,000 shares. Radio Jamaica bid is at $1.75 to buy 26,159 units with 85,791 units on offer at $1.79 while investment banker and Scotia Group’s subsidiary, Scotia Investments, closed the week with only 10,000 units on the bid to buy at $37.01 and ended with 4,180 units offered at $39.40.

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