Market activity on Monday on the Jamaica Stock Exchange Main Market ended Tuesday, with the volume of stocks traded rising 163 percent and the value 285 percent more than Monday as rising stocks exceeded those declining by a wide margin.
The All Jamaican Composite Index rallied 2,316.94 points to settle at 450,438.19, the JSE Main Index and the JSE Financial Index advanced 0.31 points to settle at 93.97.
Some 53 securities traded compared to 54 on Monday, with 34 rising, ten declining and nine ending unchanged.
The PE Ratio, a formula used for computing appropriate stock values, averages 14.7. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to the close of August 2023.
Overall, 19,187,062 shares traded for $194,339,772 versus 7,299,070 units at $50,442,185 on Monday. Trading averages 362,020 units at $3,666,788, compared to 135,168 shares at $934,115 on Monday and month to date, an average of 238,645 units at $3,561,016, compared to 232,770 units at $3,558,980 on the previous trading day. April averaged 532,209 units at$5,709,319.
JMMB Group 7.5% preference share led trading with 10.52 million units for 54.8 percent of total volume, followed by Supreme Ventures with 1.43 million shares for 7.4 percent of the day’s trade, Transjamaican Highway ended with 1.32 million units for 6.9 percent market share and Caribbean Producers exchanged 1.02 million units for 5.3 percent market share.
Investor’s Choice bid-offer indicator shows 17 stocks ended with bids higher than their last selling prices and seven with lower offers.
At the close, Barita Investments rallied 35 cents to end at $88 with an exchange of 123,555 shares, Berger Paints advanced $1.37 to $12, with just 84 units crossing the exchange, Caribbean Cement rose $4.45 to $68.45 after 31,606 stock units passed through the market. Caribbean Producers rallied 87 cents to $15.65 in switching ownership of 1,023,013 stocks, Carreras increased 40 cents to $9.90 after 294,229 units changed hands, Eppley dropped $6.23 to $40, with 4,028 stocks crossing the market. Eppley Caribbean Property Fund popped $1 to $45 while exchanging 5,325 shares, First Rock Capital climbed 45 cents in closing at $12.50 in an exchange of 915 stock units, GraceKennedy rose $3 to close at $110.50 as 12,469 shares changed hands. Guardian Holdings advanced $15 to end at $535, trading 3,909 stock units, Jamaica Broilers rallied 50 cents to close at $28.50 after exchanging 23,170 units, Jamaica Producers gained 50 cents in ending at $22.50 with the swapping of 2,337 stocks. Jamaica Stock Exchange popped 50 cents to $19, with 95,847 shares changing hands, Massy Holdings shed $3 in closing at $95 after exchanging 29,647 units, Mayberry Investments increased 35 cents to end at $10.45, with 317,126 stocks clearing the market. MPC Caribbean Clean Energy lost $3 after finishing at $102 in exchanging 48 stock units, NCB Financial fell 40 cents to $106 in trading 51,458 shares, Palace Amusement climbed $3.95 to close at $923.95 in exchanging 11 units. Proven Investments increased $2.24 to end at $38.99 after trading 2,183 stock units, 
Supreme Ventures climbed 49 cents in closing at $29.50, with 1,425,406 stocks clearing the market, Sygnus Credit Investments advanced $1.10 to end at $15.90 trading 130,918 shares and Sygnus Real Estate Finance rallied $1.54 in closing at $15.54 in trading 7,000 stock units.
In the preference segment, Jamaica Public Service 9.5% popped by $1 to close at $3000 after just one unit changed owners and Productive Business Solutions 9.75% preference share declined by $2 in, ending at $105 with an exchange of 774 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Archives for May 2022
More recovery for Junior Market
Trading closed on the Jamaica Stock Exchange Junior Market on Tuesday, with the volume of stocks traded rising 41 percent and the value 88 percent more than Monday as rising stocks outpaced those declining by nearly three to one.
A total of 43 securities trading versus 41 on Monday ending with 24 rising, nine declining and 10 closing unchanged, leading the Junior Market Index to climb 56.75 points and settle at 4,203.09.
The PE Ratio, a measure used in computing appropriate stock values, averages 13.4. The PE ratios of Junior Market stocks incorporate earnings projected by ICInsider.com for companies with financial year that falls between September this year and August 2023.
Overall, 9,825,896 shares traded for $54,208,669 compared to 6,964,198 units at $28,803,554 on the Monday. Trading averaged 228,509 shares at $1,260,667 in contrast to 169,858 shares at $702,526 on Monday with month to date, averaging 376,907 units at $1,638,631 compared to 384,335 units at $1,657,551 on the previous trading day. April closed with an average of 449,923 units at $1,781,786.
Knutsford Express led trading with 3.26 million shares for 33.2 percent of total volume, followed by Spur Tree Spices with 2.74 million units for 27.9 percent of the day’s trade and Future Energy Source with 515,082 units for 5.2 percent market share.
Investor’s Choice bid-offer indicator shows seven stocks ending with bids higher than their last selling prices and none with a lower offer.
At the close of trading, AMG Packaging increased 18 cents to end at $3.68, with 2,308 shares crossing the exchange, CAC 2000 popped $1.09 in closing at $7.40, with 10 units crossing the market, Cargo Handlers rallied 10 cents to $11.70 in trading 1,000 stock units. Dolphin Cove rose 19 cents to $18.19 in switching ownership of 48,002 stocks, Everything Fresh advanced 13 cents to close at $1.35 after exchanging 55,263 stocks, Express Catering gained 31 cents to close at $5.93 with 5,500 units changing hands. Fosrich climbed $3.50 to end at $27 in exchanging 200,352 shares, iCreate increased 15 cents in ending at $3.35 with the swapping of 188,285 stock units, Indies Pharma advanced 15 cents in closing at $3.15 in an exchange of 442,845 stock units. Iron Rock Insurance popped 22 cents to $3.30 with 3,562 units clearing the market, Jetcon Corporation lost 11 cents to end at $1.39 with an exchange of 251,118 stocks, KLE Group dropped 49 cents to $1.91 after 36,128 shares crossed the market. 
Knutsford Express gained 20 cents in closing at $8, with 3,257,783 units changing hands, Lasco Distributors shed 28 cents to close at $3.17 while exchanging 4,988 stocks, Lasco Financial rose 18 cents to $3.48, trading 103,584 stock units. Stationery and Office Supplies rallied 20 cents to $10.80 after exchanging 13,343 shares and tTech declined 39 cents in closing at $3.50 in trading 5,217 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Gains for the JSE USD market
Trading on the Jamaica Stock Exchange US dollar market ended on Tuesday, with the volume of stocks traded rising 562 percent and the value falling 57 percent lower than on Monday, resulting in nine securities traded, compared to 10 on Monday with one rising, four declining and four ending unchanged.
The JSE US Denominated Equities Index gained 6.66 points to end at 214.72.
The PE Ratio, a measure used in computing appropriate stock values, averages 9. The PE ratios incorporate earnings forecasted by ICInsider.com for companies with financial year ending, up to August 2023.
A total of 841,912 shares traded for US$21,187 compared to 127,202 units at US$49,782 on Monday.
Trading averaged 93,546 units at US$2,354, compared to 12,720 shares at US$4,978 on Monday, with a month to date average of 47,916 shares at US$3,528 versus 45,684 units at US$3,586 on the previous day. April ended with an average of 95,379 units for US$3,929.
Investor’s Choice bid-offer indicator shows six stocks ending with bids higher than the last selling prices and none with a lower offer.
At the close, First Rock Capital USD share shed 0.95 of a cent in closing at 7 US cents in an exchange of 15,332 shares, Margaritaville traded 6 units at 15 US cents, Productive Business Solutions remained at US$1 trading 3 stock units. 
Proven Investments ended unchanged at 26 US cents after exchanging 19,643 stocks, Sterling Investments fell 0.15 of a cent to close at 2 US cents while exchanging 145,442 shares, Sygnus Credit Investments USD share remained at 12.7 US cents in exchanging 45,843 stocks. Sygnus Real Estate Finance USD share dropped 0.49 of one cent in closing at 12 US cents, with 2,381 units changing hands and Transjamaican Highway advanced 0.02 of a cent to close at 0.96 of one US cent and closed with 613,161 stock units changing hands.
In the preference segment, JMMB Group 6% lost 8.77 cents to close at US$1.0123 with an exchange of 101 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE recovery continues from last week’s losses
Stocks recorded gains at the close of trading on Tuesday on the Jamaica Stock Exchange, as the markets continued to benefit from the return of some level of normality following the sell off leading to the Tuesday last week. The buoyancy in trading is reflected in the rise of the JSE Combined Index by 2,497.38 points to close at 406,578.74.
The All Jamaican Composite Index climbed 2,316.94 points to 450,438.19,the JSE Main Index added 2,129.19 points to close at 394,412.57, the Junior Market gained 56.75 points to close at 4,203.09 and the JSE USD market index popped 6.66 points to 214.72.
Investors exchanged 29,854,870 shares in all markets, with the value of stocks traded in the Main and Junior markets amounting to $248.55 million and in the JSE USD market, US$$21,187.
The market’s PE ratio ended at 24.6 based on 2021-22 earnings and 13.1 times those for 2022-23 at the close of trading.
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 and the more detailed daily report charts provide investors with regularly updated information to help with decision-making.
Investors should use 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. 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. 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.
The ICInsider.com PE Ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. 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 the 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.
Trading surges on the Trinidad & Tobago exchange
Market activity ended on the Trinidad and Tobago Stock Exchange on Tuesday, with the volume of stocks traded jumping 247 percent with the value climbing 84 percent more than on Friday, with trading leading to more stocks rising than declining.
A total of 20 securities traded, up from 14 on Friday, with six stocks rising, four declining and 10 remaining unchanged. The Composite Index slipped 3.36 points to 1,412.66, the All T&T Index lost 1.05 points to end at 2,061.12 and the Cross-Listed Index dipped 0.82 points to settle at 100.63.
A total of 220,461 shares traded for $3,466,773 up from 63,596 units at $1,889,500 on Friday. An average of 11,023 units traded at $173,339 compared to 4,543 shares at $134,964 on Friday, with trading month to date averaging 45,890 units at $370,328 versus 35,758 units at $283,584. The average trade for April amounts to 43,127 units at $458,871.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and three stocks with lower offers.
At the close, Agostini’s finished at $47.25 trading 114 shares, Angostura Holdings rallied 5 cents to end at $22.95 after exchanging 80 stock units, Ansa McAl fell $1.40 in ending at $55.60 in an exchange of 10 stocks. Ansa Merchant Bank remained at $45, with 60 units crossing the market, Calypso Macro Investment Fund ended unchanged at $20.50 as 459 shares changed hands, CinemaOne advanced 36 cents to $3 after trading 5 stocks. Clico Investment Fund increased 20 cents in closing at $29 with the swapping of 21,647 stock units, First Citizens Group finished at $53 in trading 1,285 units, GraceKennedy slipped 35 cents to $5.61 in exchanging 1,155 stocks. 
Guardian Holdings ended at $28 after 1,800 shares crossed the exchange, JMMB Group declined 10 cents in closing at $2.40 with an exchange of 758 units, Massy Holdings dropped 1 cent to close at $5.20 in switching ownership of 108,046 stock units. NCB Financial Group remained at $5.75 after trading 1,847 stock units, One Caribbean Media finished at $4, with 6,350 shares changing hands, Prestige Holdings ended at $7 in exchanging 50 units. Republic Financial Holdings climbed 98 cents in closing at $140.99, with 2,857 stocks crossing the market, Scotiabank remained at $78, with 2,300 units clearing the market, Trinidad & Tobago NGL rose 24 cents to end at $20.99 after exchanging 54,176 shares. Unilever Caribbean gained 95 cents in ending at $18.45 after trading 2,461 stock units and West Indian Tobacco remained at $23.50, with 15,001 stocks clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Slippage for JSE USD stocks
On the Jamaica Stock Exchange US dollar market, trading on Monday ended with the volume of stocks traded rising 239 percent and the value jumping 6,746 percent above trading on Friday, resulting in more stocks falling than rising.
A total of 10 securities traded, up from seven on Friday, with one rising, four declining and five were left unchanged. The JSE US Denominated Equities Index slipped 1.72 points to end at 208.05.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.1. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending, up to August 2023.
Overall, 127,202 shares were traded for US$49,782 compared to 37,542 units at US$727 on Friday. Trading averaged 12,720 units at US$4,978, compared to 5,363 shares at US$104 on Friday, with a month to date average of 45,684 shares at US$3,586 versus 47,579 units at US$3,506 on the previous day. April ended with an average of 95,379 units for US$3,929.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than the last selling prices and none with a lower offer.
At the close, First Rock Capital USD share remained at 7.95 US cents in exchanging 13,057 shares, Margaritaville ended unchanged at 15 US cents in an exchange of 6 stocks, Proven Investments lost 0.5 of a cent to end at 26 US cents with 43,887 units changing hands. 
Sterling Investments popped 0.1 of a cent in closing at 2.15 US cents with one unit clearing the market, Sygnus Credit Investments USD share ended at 12.7 US cents while exchanging 2,825 stocks, Sygnus Real Estate Finance USD share declined 0.01 of a cent to 12.49 US cents after trading one stock unit and Transjamaican Highway fell 0.02 of a cent to end at 0.94 of one US cent after exchanging 46,418 shares.
In the preference segment, Equityline Mortgage Investment preference share ended unchanged at US$1.70 with an exchange of one unit, JMMB Group 5.75% shed 29 cents in closing at US$2.03 with the swapping of 15,003 shares and JMMB Group 6% finished at US$1.10 trading 6,003 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Gains for Jamaica Stock Exchange Main Market
On Monday, market activity ended on the Jamaica Stock Exchange Main Market, with the volume of stocks traded declining by 34 percent and the value down 41 percent below Friday’s outturn as rising stocks beat out those declining.
Trading ended with 54 securities down from 56 on Friday, with 20 rising, 16 declining and 18 left unchanged.
The All Jamaican Composite Index gained 4,305.03 points to settle at 448,121.25, the JSE Main Index and the JSE Financial Index popped 0.89 points to settle at 93.66.
The PE Ratio, a formula for computing appropriate stock values, averages 14.6. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to August 2023.
Overall, 7,299,070 shares were exchanged for $50,442,185 versus 11,037,154 units at $85,895,992 on Friday. Trading averages 135,168 units at $934,115, compared to 197,092 shares at $1,533,857 on Friday and month to date, an average of 232,770 units at $3,555,980, compared to 237,971 units at $3,689,672 on the previous trading day. April averaged 532,209 units at $5,709,319.
Transjamaican Highway led trading with 1.91 million shares for 26.2 percent of total volume, followed by Sagicor Select Financial Fund with 1.39 million units for 19 percent of the day’s trade, QWI Investments traded 1.08 million units for 14.8 percent market share and Wigton Windfarm, 1.07 million units for 14.7 percent market share.
Investor’s Choice bid-offer indicator shows 13 stocks ended with bids higher than their last selling prices and seven with lower offers.
At the close, Caribbean Cement climbed $1 to close at $64, with 25,448 shares crossing the exchange, Eppley Caribbean Property Fund popped $2.95 to $44 in switching ownership of 3 stock units, First Rock Capital shed 35 cents in ending at $12.05 with the swapping of 1,703 stocks. Jamaica Stock Exchange lost 30 cents to end at $18.50 in an exchange of 13,082 units, JMMB Group gained 75 cents in closing at $46.75 with 81,624 stocks changing hands, Kingston Properties rallied 49 cents to close at $7.99 after 6,251 stock units were traded. Massy Holdings advanced $3 to $98 in trading 67,506 units, Mayberry Investments declined 36 cents to $10.10 while exchanging 4,158 shares, Mayberry Jamaican Equities fell $1.10 in closing at $13.50, with 3,526 stocks clearing the market. Portland JSX increased 70 cents to $10.70 after 50,000 stock units changed hands, Proven Investments rose 70 cents to $36.75 in exchanging 3,532 shares, Pulse Investments dropped 32 cents in closing at $3.48, with 309,086 units crossing the market. Stanley Motta increased 40 cents in ending at $5.30 after exchanging 23,878 shares, 
Supreme Ventures rose $1.01 to end at $29.01, with 14,640 stock units crossing the market, Sygnus Credit Investments dropped $1.28 to close at $14.80, with 12,534 stocks changing hands. Sygnus Real Estate Finance rallied $1.05 in closing at $14 after an exchange of 3,310 units and Wisynco Group advanced 50 cents to close at $19.80, trading 42,528 stocks.
In the preference segment, Jamaica Public Service 9.5% slipped $1 to $2999 with an exchange of 13 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market recovery continues
The Junior Market Index continues to rebound from last week’s steep sell-off by climbing 26.29 points to close at 4,146.34 at the close of trading on Monday, with a 51 percent increase in the volume of stocks traded and the value rose 54 percent over trading on Friday.
A total of 41 securities traded up from 35 on Friday and ended with 15 rising, 18 declining and eight left unchanged.
The PE Ratio, a measure in computing stock values, averages 13. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial years closing up to the end of August 2023.
A total of, 6,964,198 shares traded amounting to $28,803,554, up from 4,622,684 units at $18,728,840 on Friday. Trading averaged 169,858 shares at $702,526 in contrast to 132,077 shares at $535,110 on Friday, with the month to date, averaging 384,335 units at $1,657,551 compared to 395,085 units at $1,705,419 on the previous trading day. April closed with an average of 449,923 units at $1,781,786.
Caribbean Assurance Brokers led trading with 1.61 million shares for 23.1 percent of total volume, followed by Future Energy Source with 1.04 million units for 14.9 percent of the day’s trade and Spur Tree Spices with 474,166 units for 6.8 percent market share.
Investor’s Choice bid-offer indicator shows six stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Access Financial climbed $1.87 to $21.87, with 451 shares crossing the market, Cargo Handlers advanced $1.60 in closing at $11.60 after exchanging just 500 stocks, Caribbean Cream declined 25 cents in ending at $4., with 10,891 units changing hands. Caribbean Flavours increased 25 cents to close at $1.97 with the swapping of 212,907 stock units, Dolphin Cove fell 20 cents to end at $18 in switching ownership of 37,212 stock units, Elite Diagnostic lost 20 cents to $3.40, trading 15,556 stocks. Everything Fresh shed 14 cents to $1.22, with 29,677 units clearing the market, Express Catering dropped 31 cents to end at $5.62 with 14,301 shares changing hands, Fosrich dropped 80 cents in closing at $23.50, with 216,823 stock units crossing the exchange. Future Energy Source gained 25 cents to close at $6.25 after exchanging 1,038,976 units, iCreate declined 30 cents in closing at $3.20 with an exchange of 41,181 shares, Indies Pharma lost 16 cents to end at $3 in an exchange of 20,017 stock units. Jetcon Corporation shed 10 cents to $1.50 while exchanging 31,329 shares, Knutsford Express rallied 10 cents to $7.80 after finishing trading 2,136 units, 
Lasco Manufacturing popped 16 cents to close at $5.27 after an exchange of 95,723 stocks, following the release of improved full year results. Lumber Depot fell 20 cents to end at $3.10 in trading 413,705 stock units, Main Event shed 19 cents after finishing at $8.20 in exchanging 54,232 stock units, Medical Disposables jumped $1.19 to $8.19 in trading 73,758 stocks. Paramount Trading rallied 15 cents in closing at $1.90 in an exchange of 650 shares, Spur Tree Spices advanced 25 cents to close at $3.95, with 474,166 units changing hands and tTech rose 40 cents in closing at $3.89 while exchanging 4,000 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
More bounce for the Jamaica Stock Exchange
Stocks bounced again at the close of trading on Monday on the Main and Junior and Main Market of the Jamaica Stock Exchange, accompanied by low volume, but slipped on the JSE USD Market resulting in the JSE Combined Index bouncing 4,415.18 points to close at 404,081.36.
The All Jamaican Composite Index jumped 4,305.03 points to 448,121.25, the JSE Main Index added 4,466.69 points to close at 392,283.38, the Junior Market of the Jamaica Stock Exchange gained 26.29 points to close at 4,146.34 and the JSE USD market index slipped 1.72 points to 208.05.
Investors exchanged 14,390,470 shares in all markets, with the value of stocks traded in the Main and Junior Markets amounting to a mere $79.2 million and in the JSE USD market, US$49,782.
The market’s PE ratio ended at 24.3 based on 2021-22 earnings and 13.1 times those for 2022-23 at the close of 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 and the more detailed daily report charts provide investors with regularly updated information to help with decision-making.
Investors should use 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. 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. 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.
The ICInsider.com PE Ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. 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 the 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.
Paramount Trading joins ICTOP10
Dolla Financial Services IPO was heavily oversubscribed, and it is unlikely that investors will be able to buy the stock in the secondary market at a price that would place it in the TOP10 after day two of listing. Accordingly, the stock has been moved to the sideline, but it seems set to reach the $3 region sometime after listing.
The shifting of Dolla Financial out of the TOP10 resulted in Paramount Trading entering the TOP10 with the price falling to $1.75 in a week that saw investors selling stocks to raise funds to get into the IPO issue.
The past week was volatile, with the Junior Market index dropping more than 330 points or 7.6 percent from the close of the previous week to Wednesday, as investors sought funds to go into the Dolla IPO. The selloff was visible from May 12 with a near 100 points fall on that day as there was talk in the market of the pending issue.
This week’s pullback of the market resulted in mostly declines in the TOP10 Junior Market stocks. Medical Disposables dropped 13 percent to $7, while Access Financial also dropped 13 percent to close at $20, Elite Diagnostic slipped 9 percent in closing at $3.60 and Lasco Financial dipped 7 percent to $3.30.
For the TOP10 Main Market stocks, Berger Paints fell 13 percent to $10.63; Radio Jamaica declined 11 percent to $2.55, VM Investments lost 7 percent, followed by QWI Investments down 6 percent to 85 cents. There were no meaningful gains.
During the week, General Accident reported first quarter results with profit due to shareholders of the parent company rising 36 percent to $49 million, Friday after trading, Lasco Distributors reported profit increasing 12 percent for the full year to $1 billion but the final quarter being up 35 percent to $241 million and Lasco Manufacturing rising 45 percent in the March quarter to $522 million and the full year up 24 percent to $1.7 billion.ICInsider.com upgraded earnings for Lasco Distributors to 50 cents from 45 cents, but the others remain as previously stated. All three stocks are trading below ten times 2022 earnings and therefore have huge potential to appreciate.
Results for Access Financial and Medical Disposables to March are awaited.
The average PE for the JSE Main Market TOP 10 ends the week at 6.2, well below the market average of 14.4, while the Junior Market PE for the Top 10 sits at 5.9 versus the market at 13.1. The Junior Market TOP10 is projected to gain an average of 245 percent to May 2023 and the Main Market 241 percent.
Watch these stocks that sit just outside the TOP10 that investors should watch. They include Key Insurance, followed by Caribbean Producers and Scotia Group from the Main Market. In the Junior Market, Iron Rock Insurance, Dolphin Cove, Jetcon Corporation, Stationery and Office Supplies and Lasco Manufacturingreported strong fourth quarter results to March this year.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2023. They are ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
