Stock Price of ICTSI Hikes Within 5 Days - Marvin Germo

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Stock Price of ICTSI Hikes Within 5 Days

By: Marvin Germo | February 25, 2019

ICTSI’s Stock Price Increases by 3.8%

International Container Terminal Services, Inc. (ICTSI)’s stocks were traded actively last week. This was one of the most active trading the Philippine Stock Exchange (PSE) had noted, with a total of 16.064 Millions shares, or P1.913 billion in pesos, traded within February 18 to 22 timeline. The firm was able to close at P199.40 last February 23 which is 3.8% higher than its Feb 15 P115 stock price. Given this good news for the firm and its investors, what triggers the increase of stock price?

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Investing Insights (Dubai) – March 1, 2019
Stock Smarts Manila —  March 9, 10, 16, 17 & 23, 2019
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Stock Smarts Singapore —  May 18 & 19, 2019
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Future Expansion Triggers Stock Price Increase

According to the ICTSI Chairman, Enrique K. Razon Jr., the main factors that affected the weight of its stock are its plan to take over the Subic-based shipbuilder, its expansion overseas, and the re-balancing of the global equity index. Because of this, a 3.8% increase has been noted within the 5-day timeline, and if we take a look at it since the year started, the firm’s stock price is already up 20%.

Taking Over HHIC-Phil  

The ICTSI’s is focusing on bankrupt Hanjin Heavy Industries and Construction Philippines (HHCIC-Phil) in Subic Bay. The firm is planning to turn the facilities into an industrial complex combined with container port and dry bulk handling facilities, terminal of a liquefied natural gas (LNG), and an LNG power plan as well. The disclosure said that there are people who filed for the corporate rehabilitation to rescue HHCI-Phil from its P20 Billion debt with the big banks in the country.

Overseas Expansion Plans and MSCI Rebalancing

Meanwhile, the company is looking forward to its privatization deals in the container port industry. In fact, it’s digging into profitable opportunities in its international ports including those in Cameroon and Thailand. The firm believes that the strike of workers against privatization deals in Port Sudan has also affected the stock price, not in a bad way but in a positive state. Aside from international expansion, ICTSI has also received an upweight in the index- with 1.518% increase. This is the only company with an increased index since some of the big corporations like SM Prime and Ayala Land has -0.203% and -0.168% downweights respectively. The firm has also generated attributable net income of $153.287 Million in first 3 quarters of 2018, which is 2.7% higher than last year.

What does ICT’s Technicals say?

The stock is still progressing in its uptrend. If you are a position trader, hold and maximize your gains first. You don’t want to sell to early and miss out on its run.

From a quick trading standpoint, the stock just broke out from the 112 level. If it stays above this level, the stock could progress to 148 for the mid term!

It’s a great time to be invested in the stock market!

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