Stocks closed mixed on Friday in trading on the Jamaica Stock Exchange, with the Combined Index rising 317.09 points to end at 401,437.50, the All Jamaican Composite Index declined 104.45 points to 443,178.75, the JSE Main Index advanced 358.54 points to 391,193.26 and the Junior Market slipped 2.14 points to settle at 3,963.43.
The market’s PE ratio ended at 17.7 based on 2021-22 earnings and 11.8 times those for 2022-23 at the close of market activity on the Jamaica Stock Exchange.
Investors need a series of measures and pertinent information to successfully navigate the many investment choices in the local stock market. The ICInsider.com PE ratio chart along with the more detailed daily report charts, provide investors with regularly updated information to help with decision making.
Investors should make use of the chart to help make rational investment decisions, by investing in stocks that are close to the average for the sector and not going too far from it, unless there are compelling reasons to do so. 
Investors who buy when prices are close to the average will find that they are not inclined to overpay for a stock. This approach helps to take emotions out of the investment decision and put in on fundamentals while at the same time not being too far from the majority of investors.
The ICInsider.com PE Ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange and shows companies grouped on an industry basis, allowing for easy comparisons between same sector companies as well as the overall market.
The net asset value of each company is reported as a guide to easily assess the value of stocks based on this measure. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets daily report charts that show closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.
Archives for February 2022
Mixed trading for Jamaica Stock Exchange
Volume rises prices mixed on TTSE Friday
Trading surged on Friday on the Trinidad and Tobago Stock Exchange after 479 percent more shares were exchanged worth 641 percent more than trades on Thursday and resulted in more stocks rising than falling at the close of the market.
Only 14 securities traded down from 18 on Thursday, with five rising, four falling and five remaining unchanged. The Composite Index fell 7.79 points to end at 1,496.28, the All T&T Index declined 5.14 points to 2,107.32 and the Cross-Listed Index fell 1.49 points to settle at 118.07.
A total of 1,122,765 shares traded for $10,499,447 up from 193,817 units at $1,416,976 on Thursday. An average of 80,198 units traded at $749,960 compared to 10,768 shares at $78,721 previously, with trading month to date averaging 49,377 units at $525,735 versus 48,057 units at $516,135 on the previous day. The average trade for January amounts to 39,943 units at $369,498.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and one stock with a lower offer.
At the close, Ansa McAl finished at $57.50 in switching ownership of 129 shares, Clico Investment Fund gained 50 cents to end at $30.50, with 64,002 units clearing the market, First Citizens Group declined 45 cents to close at $64 in exchanging 2,791 stocks. GraceKennedy dipped 7 cents to end at $6 in an exchange of 838,263 stock units, Guardian Holdings remained at $30 in trading 6,421 shares, JMMB Group ended unchanged at $2.30 after 166,128 stock units changed hands. 
L.J Williams B share remained at $1.95, with 6 stock units crossing the market, Massy Holdings popped 2 cents to end at $106 after 21,490 units passed through the exchange, NCB Financial Group lost 25 cents to close at $7.50 after trading 9,591 stocks. Point Lisas ended unchanged at $3.27 after an exchange of 2,200 shares, Republic Financial Holdings climbed $1.92 to $142, with 396 stock units crossing the market, Scotiabank rallied 50 cents to $73, with 1,718 units changing hands. Trinidad & Tobago NGL rose 68 cents in closing at $20.78 with the swapping of 4,500 shares and West Indian Tobacco fell $1.93 to end at a 52 weeks’ low of $24.01 after exchanging 5,130 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Main Market stocks falter Thursday
Market activity ended on Thursday with the volume of shares traded rising 28 percent with the value 33 percent lower than on Wednesday on the Jamaica Stock Exchange Main Market as rising stocks ended numbering well below those declining.
The All Jamaican Composite Index dropped 2,053.46 points to close at 443,283.20, the JSE Main Index declined 1,576.68 points to 390,834.72 and the JSE Financial Index slipped 0.50 points to close at 94.55.
Trading ended with 53 securities versus 57 on Wednesday, with 14 rising, 29 declining and 10 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 16.7. The PE ratio for the JSE Main and USD Market closing quotes are based on ICInsider.com earnings forecasts for companies with financial years ending up to August 2022.
Overall, 17,324,391 shares were traded for $137,517,118 versus 13,505,149 units at $204,572,223 on Wednesday. Wigton Windfarm led trading with 45.8 percent of total volume with an exchange of 7.93 million shares followed by Transjamaican Highway with 19.8 percent for 3.44 million units and Carreras with 9.1 percent after trading 1.58 million units.
Trading averaged 326,875 units at $2,594,663 on Thursday, compared to 236,932 shares at $3,588,986 on Wednesday and for the month to date, an average of 310,484 units at $2,982,018 compared to 309,590 units at $3,003,161 on the previous day. January averaged 235,328 units at $2,397,571.
Investor’s Choice bid-offer indicator shows ten stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Caribbean Cement shed 91 cents to close at $75.94, with 10,372 shares crossing the market, Caribbean Producers lost 37 cents to end at $17.48 trading 191,062 units, Eppley rose $1.10 to $39.10 with an exchange of 125 stocks. Eppley Caribbean Property Fund fell $1.48 in closing at $38.52 with 4,548 stock units switching owners, GraceKennedy declined $2.45 to $103 after transferring 163,759 shares, Jamaica Broilers fell $1.21 to close at $28.50 with 9,596 units crossing the exchange. Jamaica Producers gained 45 cents to end at $22.90 with 8,588 stocks clearing the market, Jamaica Stock Exchange rallied 80 cents to $17.90 in exchanging 15,924 stock units, JMMB Group fell $1.25 in closing at $43.25 with a transfer of 458,337 shares. 
Kingston Properties gained 50 cents to finish at $9, with the swapping of 265 stock units, Kingston Wharves declined $1.10 in ending at $42.40 in switching ownership of 1,526 stocks, Massy Holdings popped $10.50 to close at $1,980 with 10,224 units changing hands. PanJam Investment shed $1 in closing at $64, with the swapping of 320,378 stocks, Proven Investments gained 50 cents to settle at $36 in an exchange of 30,990 stock units, Salada Foods gained 49 cents to end at $7 in trading 1,945 units. Supreme Ventures lost 48 cents to close at $18.50 with the swapping of 142,526 shares, Sygnus Real Estate Finance lost 32 cents after ending at $17.50 and an exchange of 630 stocks.
In the preference segment, 138 Student Living preference share fell $1.25 to close at $6.50, with 289 units crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Running streak broken for Junior Market
The four consecutive days of gains in the Jamaica Stock Exchange Junior Market ended Thursday, with a modest fall in the market index after the volume of stocks traded jumped 192 percent and the value climbed 160 percent higher than Wednesday.
The Junior Market Index shed 18.33 points to settle at 3,965.57 after 40 securities traded, down from 43 on Wednesday, with 15 rising, 19 declining and six, closing unchanged. The Investor’s Choice bid-offer indicator reading was negative at the close, with no stock ending with the bid higher than the last selling price while eight closed with lower offers.
The PE Ratio, a measure used to compute appropriate stock values, averages 19.5. The PE ratio of each stock in the chart below is based on ICInsider.com earnings forecast for companies with financial years up to August 2022.
Overall, 12,953,091 shares traded for $51,920,823 up from 4,440,089 units at $19,969,265 on Wednesday. SSL Venture led trading with 3.38 million shares for 26.1 percent of total volume followed by Jamaican Teas with 2.01 million units for 15.5 percent of the day’s trade, Future Energy Source with 1.77 million units for 13.7 percent market share, while Lasco Financial ended with 1.19 million units changing hands for 9.2 percent market share.
Trading on Thursday averaged 323,827 shares at $1,298,021 compared to 103,258 shares at $464,402 on Wednesday and month to date, averaging 378,787 units at $1,434,941, compared to 381,857 units at $1,442,591 previously. January closed with an average of 319,395 units at $1,181,136.
At the close, Access Financial increased 69 cents to $20.65 closing with 104 shares traded, AMG Packaging advanced 34 cents in closing at $3.40 while exchanging 8,389 stock units, Blue Power dropped 50 cents to close at $3.50 trading 13,364 stocks. Cargo Handlers climbed 50 cents to $8.10 after exchanging 69,249 units, Dolphin Cove lost $1.94 to end at $27 with an exchange of 281,403 units, Elite Diagnostic declined 21 cents to end at $3.10 in switching ownership of 134,462 shares. General Accident fell 20 cents to close at $6.10, with 2,320 stocks crossing the market, Honey Bun rallied 15 cents to $9.85 after 47,551 stock units changed hands, Iron Rock Insurance shed 32 cents after ending at $3.10 in an exchange of one unit.
KLE Group dropped 37 cents to close at $2.18 in trading 17,495 units, Knutsford Express rose 20 cents and ended at $8 after exchanging 11,696 shares, Lasco Manufacturing gained 10 cents to end at $4.65 trading 24,895 stock units. Limners and Bards shed 23 cents in closing at $3.51 in exchanging 187,213 units, Medical Disposables popped 35 cents to $7, with 14,127 stocks crossing the exchange, SSL Venture declined 11 cents to close at $1.54 with 3,382,222 shares crossing the market. Stationery and Office Supplies increased 10 cents in ending at $7.50 with the swapping of 5,323 stock units and tTech lost 15 cents in closing at $4, with 5,500 stocks clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
All round gains for JSE USD stocks
The volume of shares changing hands surged 472 percent and the value ballooned 937 percent higher on Thursday than Wednesday, at the close of the Jamaica Stock Exchange US dollar market, resulting in a pickup in the market index as advancing stocks outnumbered declining ones by a big margin.
Seven securities traded similar to Wednesday with five rising, one declining and one ending unchanged. The JSE US Denominated Equities Index climbed 6.27 points to end at 209.05.
The PE Ratio, a measure used to compute appropriate stock values, averages 14. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years, up to August 2022.
Overall, 717,581 shares traded for US$690,333, up from 125,545 units at US$66,575 on Wednesday. Trading averaged 102,512 units at US$98,619, compared to 17,935 shares at US$9,511 on Wednesday and month to date an average of 83,223 shares at US$9,899 versus 82,098 units at US$4,723 on the previous day. January ended with an average of 91,572 units for US$7,142.
Investor’s Choice bid-offer indicator shows no stock ending with a bid higher than the last selling prices and one stock with a lower offer.
At the close, First Rock Capital USD share climbed 1.45 cents 8.95 US cents after trading 4,700 shares, 
Productive Business Solutions popped 10 cents to US$1.10 in switching ownership of 612,721 stocks, Proven Investments gained 0.01 of a cent in closing at 23.01 US cents after exchanging 24,954 units. Sygnus Credit Investments USD share increased 0.15 of a cent to 12.95 US cents after finishing with 56,457 stock units changing hands, Sygnus Real Estate Finance USD share rallied 0.99 of a cent to close at 13.99 US cents while exchanging 11,480 stock units and Transjamaican Highway ended at 0.88 of a US cent with the swapping of 6,686 shares.
In the preference segment, JMMB Group 5.75% fell 6 cents to US$2.04 in an exchange of 583 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Stocks slip on the Jamaica Stock Exchange
Stocks pulled back in trading on the Jamaica Stock Exchange on Thursday after posting gains in the early morning session and ended trading, with the Combined Index fell 1638.68 points to end at 401120.41, the All Jamaican Composite Index dropped 2,053.46 points to 443,283.20 and the JSE Main Index fell 1,576.68 points to end at 390,834.72.
The Junior Market slipped 18.33 points to close at 3,965.57, the first decline since the recent rebound started last Friday.
The market’s PE ratio ended at 17.7 based on 2021-22 earnings and 11.7 times those for 2022-23 at the close of market activity on the Jamaica Stock Exchange.
Investors need a series of measures and pertinent information to successfully navigate the many investment choices in the local stock market. The ICInsider.com PE ratio chart along with the more detailed daily report charts, provide investors with regularly updated information to help with decision making.
Investors should make use of the chart to help make rational investment decisions, by investing in stocks that are close to the average for the sector and not going too far from it, unless there are compelling reasons to do so. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock. This approach helps to take emotions out of the investment decision and put in on fundamentals while at the same time not being too far from the majority of investors.
The ICInsider.com PE Ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange and shows companies grouped on an industry basis, allowing for easy comparisons between same sector companies as well as the overall market.
The net asset value of each company is reported as a guide to easily assess the value of stocks based on this measure. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets daily report charts that show closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.
More slippage for Trinidad stocks Thursday
Declining stocks dominated stock rising on the Trinidad and Tobago Stock Exchange when trading ended on Thursday after the volume of stocks trading dived 70 percent, with 68 percent less value than on Wednesday.
A total of 18 securities were traded compared to 17 on Wednesday, with two stocks rising, seven declining and nine remaining unchanged. The Composite Index declined 1.30 points to 1,504.07, the All T&T Index dropped 6.53 points to close at 2,112.46 and the Cross-Listed Index gained 0.60 points to settle at 119.56.
A total of 193,817 shares traded for $1,416,976 compared to 639,746 units at $4,424,096 on Wednesday. An average of 10,768 units traded at $78,721 compared to 37,632 shares at $260,241 on Wednesday, with trading month to date averaging 48,057 units at $516,135 versus 50,229 units at $541,615, previously traded. The average trade for January amounts to 39,943 units at $369,498.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and two stocks with lower offers.
At the close, Agostini’s ended at $46 while exchanging 1,402 shares, Angostura Holdings rose 1 cent to close at $19.75, with 3,254 stock units crossing the market, Ansa McAl declined 50 cents to $57.50 in an exchange of 340 stocks. Clico Investment Fund lost $1 to end at $30 with the swapping of 2,019 units, First Citizens Group ended unchanged at $64.45 with an exchange of 160 units, FirstCaribbean International Bank finished at $6.12 in trading 34,801 stock units. 
GraceKennedy ended unchanged at $6.07 after trading 336 stocks, JMMB Group remained at $2.30 after 84,169 shares crossed the exchange, Massy Holdings dipped 1 cent to end at $105.98, with 1,343 stock units changing hands. National Enterprises finished at $3.25, with 40 stocks clearing the market, National Flour Mills finished at $1.95 after an exchange of two shares, NCB Financial Group remained at $7.75 after exchanging five units. Prestige Holdings ended unchanged at $7.10 in switching ownership of one stock unit, Republic Financial Holdings fell $1.92 to close at $140.08 in exchanging 84 stocks, Scotiabank popped 49 cents to $72.50 trading 200 shares. Trinidad & Tobago NGL shed 85 cents to close at $20.10, with 21,229 units crossing the market, Trinidad Cement fell 10 cents to end at $3.70 after exchanging 43,150 stock units and Unilever Caribbean declined 55 cents ending at a 52 weeks’ low of $15.20 in trading 1,282 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Pullback for JSE Main Market
Market activity ended on Wednesday with the volume of shares declining 33 percent with 17 percent greater value than in trading on Tuesday on the Jamaica Stock Exchange Main Market as rising stocks exceeded those declining by a decent margin but that did not prevent the main indices from slipping.
The All Jamaican Composite Index fell 964.21 points to 445,336.66, the JSE Main Index declined 1,127.53 points to settle at 392,411.40 and the JSE Financial Index lost 0.49 points to end at 95.05.
Trading ended with 57 securities up from 56 on Tuesday, with 23 rising, 16 declining and 18 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 16.8. The PE ratio for the JSE Main and USD Market closing quotes are based on ICInsider.com earnings forecasts for companies with financial years ending up to August 2022.
Overall, 13,505,149 shares were exchanged for $204,572,223 versus 20,207,005 units at $174,517,332 on Tuesday. Transjamaican Highway led trading with 27.4 percent of total volume in transferring 3.69 million shares followed by Wigton Windfarm with 25.6 percent for 3.46 million units and Scotia Group with 7 percent market share for 941,139 units.
Trading averages 236,932 units at $3,588,986, compared to 360,839 shares at $3,116,381 on Tuesday and month to date, an average of 309,590 units at $3,003,161, compared to 314,121 units at $2,966,627 on the previous trading day. January closed with an average of 235,328 units at $2,397,571.
Investor’s Choice bid-offer indicator shows 12 stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Caribbean Cement rose 86 cents to end at $76.85 with 12,147 shares changing hands, Caribbean Producers gained 85 cents in closing at $17.85 after clearing the market with 131,052 stock units, Eppley Caribbean Property Fund declined 75 cents to finish at $40 in trading 1,050 units. First Rock Capital shed $1.03 to end $10.95 with an exchange of 1,083 stocks, GraceKennedy rallied $2.45 after ending at $105.45 with 609,750 units crossing the exchange, Guardian Holdings climbed $6 to $538.01 in trading 2,146 stocks. Jamaica Broilers lost 49 cents to settle at $29.71 in switching ownership of 625,305 shares, Kingston Properties dipped 50 cents to close at $8.50 with the swapping of 6,093 units, Kingston Wharves advanced $2.92 in closing at $43.50 after 7,869 shares crossed the market. Margaritaville lost 50 cents to end at $27.50 with 1,493 stocks changing hands, Massy Holdings dropped $30.50 to close at $1,969.50 in switching ownership of 3,610 units, NCB Financial declined $1.50 to end at $125 with an exchange of 192,896 stock units. 
Proven Investments gained 49 cents to close at $35.50 in transferring 19,313 shares, Scotia Group fell 84 cents to $34.56 after trading 941,139 stocks, Seprod popped $2.95 in ending at $60 in exchanging 2,213 units. Stanley Motta lost 70 cents to close at $5.25 with 57,831 stock units changing hands, Supreme Ventures gained 48 cents to settle at $18.98 with the swapping of 6,496 stocks and Victoria Mutual Investments shed 35 cents to end at $6.85 in trading 288,846 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Slippage for JSE USD Market
Trading on Wednesday ended with the volume of shares changing hands declining, with 86 percent higher value than on Tuesday, at the close of the Jamaica Stock Exchange US dollar market, resulting in slightly more stocks rising than falling.
A total of seven securities traded, compared to nine on Tuesday with three rising, two declining and two ending unchanged.
The JSE US Denominated Equities Index slipped 0.99 points to end at 202.78.
A total of 125,545 shares traded, for US$66,575 compared to 146,802 units at US$35, 811 on Tuesday.
The PE Ratio, a measure used in computing appropriate stock values, averages 14.4. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years, up to August 2022.
Overall, 125,545 shares traded for US$66,575 compared to 146,802 units at US$35,811 on Tuesday. Trading averaged 17,935 units at US$9,511 compared to 16,311 shares at US$3,979 on Tuesday and month to date averages 82,098 shares at US$4,723 versus 86,072 units at US$4,42 on the previous day. January ended with an average of 91,572 units for US$7,142.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling prices and none with a lower offer.
At the close, First Rock Capital USD share ended unchanged at 7.5 US cents after trading 10,779 shares, Proven Investments remained at 23 US cents in exchanging 88,223 units, Sterling Investments lost 0.07 cents in ending at 2.3 US cents, with the trading of 600 stock units. Sygnus Credit Investments USD share dropped 0.03 of a cent in closing at 12.8 US cents, with 313 stocks crossing the market and Transjamaican Highway rose 0.01 of a cent to 0.88 of a US cent with an exchange of 3,946 stock units.
In the preference segment, JMMB Group 5.75% rose 1 cent to US$2.10 after exchanging 21,666 stocks and JMMB Group 6% popped 10.9 cents to end at US$1.10 in exchanging 18 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
EduFocal attractive based on 2022 earnings
EduFocal Limited is offering 129,689,219 ordinary shares to the public at $1 each with the issue opening on March 3, 2022, with the closing scheduled for March 17, but is expected to close earlier.
Only 80,499,272 Ordinary Shares will be available to the general public as 49,189,947 are reserved for Key Strategic Partners and a Lender who agreed to convert a loan into equity.
The Company intends to apply to the Jamaica Stock Exchange for admission of the shares on the Junior Market and will bring the total listings on that market to 45 if the issue is successful.
The company experienced rapid growth with revenues of $27 million in 2019 rising to $103 million in 2020 and profit before tax of $15.6 million. For the period to September 2021 revenues rose 39 percent to $107.6 million with a loss of less than a million dollars, from $77.5 million in revenues and a small profit of $7.5 million before tax. Preliminary results to December 2021 saw revenues rising to $168.6 million with a profit of $15 million or 2.8 cents per share, putting the PE ratio around 36 times 2021 earnings.
The company is projecting revenues rising to $322 million in 2022 and $355 million in 2023, with profits of $50 million and $69 million respectively. The projected revenues for 2022 would equate to growth of 91 percent, well above the December quarter revenues annualized of around $240 million. The forecasted profit appears reasonable if the performance in the December quarter carries over for the rest of 2022 and would represent earnings per share of 8 cents with a PE of 12.
The company had shareholders’ equity of $71 million, with borrowings of $114 million. Current assets stood at $138 million and includes cash of $17 million and a high degree of receivables of $114 million. Payables amount to $24 million at the same time.
The Company commenced operations in March 2012 and has two divisions, Learn and Business. Under the Learn division, the Company provides educational technology in the Business to Consumer space and more recently via the Business division, it offers Business to Business solutions.
EduFocal Learn encompasses the Company’s core business offering which is focused on providing a social learning platform that combines study with play, with the primary offering, focused on test preparation for Jamaica’s Primary Exit Profile exams, previously known as the Grade Six Achievement Test (GSAT). In September 2020, the Company launched the EduFocal Academy product which entailed a full-day learning programme.
The Company’s content is delivered over its proprietary e-learning platform, for which it charges monthly subscription fees. EduFocal Business division was launched in 2020. It is focused on delivering organisation or industry specific e-learning content using the Company’s platform architecture and know-how.
The proceeds of the offer will be used to pay transaction costs of $12 million, $42 million will be used towards the repayment of short term debt and approximately $62 will be used towards expansion in new markets.
The company is involved in online education, relatively new business activity as such the risk associated with an investment in these shares may be higher than for longer established businesses in tried and proven segments of the economy.
The directors are Peter Levy, chairman, Shauna Fuller Clarke, Lloyd Swaby Gordon Swaby, Grace Lindo and Kevin Donaldson
