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Jamaica Broilers Group Limited | Equity Analysis

Feb 28, 2023

Valuation and Recommendation Valuation: We estimated a price target for JBG using an average of two approaches, the first being based on an average price-to-earnings (P/E) ratio, and the second being based on an average price-to-book (P/B) ratio. P/E Valuation – Under this approach, we estimated a 1-year forward (FY 2024) earnings per share (EPS) […]

Massy Holdings Limited | Equity Analysis

Jan 20, 2023

Valuation To value Massy Holdings Limited, we utilized a combination of a free cash flow to equity valuation method and a Justified P/E approach. The core result from the free cash flow to equity valuation method was a price target of TT$4.35 (J$98.00), assuming an average revenue growth rate over the 6-yr forecasted period of […]

Sygnus Credit Investments Limited | Equity Analysis

Jan 20, 2023

Valuation and Recommendation To arrive at our price target for SCI, a Justified Price to Earnings (P/E) Model was used. Our estimate for the 2023 Financial year-end EPS, considering the recovery of earnings as a result of the contribution of the Puerto Rico Credit Fund as well as a lower impairment charge given the charge-off […]

Wisynco Group Limited | Equity Analysis

Jan 19, 2023

Valuation and Recommendation WGL was valued using a mixture of income and market-based valuation approaches. More specifically, we used a discounted cash flow (DCF) model as well as a relative approach with respect to the price-to-earnings (P/E) multiple. For the P/E-based valuation approach, we forecasted a forward earnings per share (EPS) of $1.36 for FY […]

JMMB Group Limited | Equity Analysis

Nov 29, 2022

Valuation Summary To arrive at our price target for JMMBGL, a Justified Price to Earnings (P/E) Model was used. Our estimate for the 2023 Financial year-end EPS, considering the challenges to operating profits in the first half of the financial year and seasonality of earnings amounted to $3.98. To arrive at a discount rate, we […]

Express Catering | Equity Analysis

Sep 09, 2022

Valuation and Recommendation We forecasted the income statement for ECL for the next 5 financial years, with the forward EPS for FY2023 coming in at approximately J$0.27. Investors should note that the forecasted EPS is still below pre-COVID levels, with ECL’s EPS in FY2019 coming in at approximately J$0.35. This was influenced by multiple factors. […]

JMMB Group Limited | Equity Analysis

Sep 07, 2022

Valuation Summary To arrive at our price target for JMMBGL, a Justified Price to Earnings (P/E) Model was used. Our estimate for the 2023 Financial year-end eps, considering the growth in the first quarter of the financial year and seasonality of earnings amounted to $5.95. To arrive at a discount rate, we utilized the capital […]

Fosrich Company Limited | Equity Analysis

Sep 05, 2022

Valuation To arrive at our price target for Fosrich, we utilized a weighted approach using a justified price-to-earnings (P/E) model as well as an approach in which a fair price is derived from a target forward Price/Earnings-to-Growth ratio. Our estimate for the 2022 Financial year-end eps, considering the growth in the first half of 2022 […]

Jamaica Broilers | Equity Analysis

Aug 12, 2022

Valuations & Recommendation We estimated a price target for JBG using an average of two approaches, the first being based on an applied justified price-to-earnings (P/E) ratio, and the second being based on an applied justified price-to-book (P/B) ratio. P/E Valuation – For this approach, we estimated a 1-year forward earnings per share (EPS) of […]

Supreme Ventures Limited Equity Analysis

Apr 04, 2022

Valuation & Recommendation To value SVL, we utilized two approaches, the Justified P/E, and a Dividend Discount Model (DDM). For both methods, we assumed a cost of equity of 11.43% which was derived from a “build-up” approach adding an equity risk premium to an estimate of the company’s cost of debt. For the justified PE […]




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