Caribbean Producers
Caribbean Producers (CPJ) returns to the TOP10 after a long period of absence, following the fall out of Berger Paints from the Main market Top10, even as CPJ earnings are based on June 2023 full year earnings with the company is yet to release these results.
Preliminary projection indicates earnings of $2.50 per share for the 2024 fiscal year that would put the stock into the third position on the TOP10 list. Until the full year results are in, the estimate for the 2023 year is used.
The Main and Junior markets closed the week with moderate changes in market indices, with a slight fall in the Junior Market and a modest increase in the other.
The Main and Junior markets closed the week with moderate changes in market indices, with a slight fall in the Junior Market and a modest increase in the other.
The Junior Market had one stock rising 10 percent and two falling 12 and 10 percent, with more modest changes in most of the rest. The Main Market had one stock climbing 10 percent and one falling 6 percent as the largest movers.
Caribbean Cream the leading mover in the Junior Market ICTOP10, climbed 10 percent to $4.15, followed by Edufocal rising 4 percent to $1.45. Iron Rock Insurance was the worst performer, falling 12 percent to $2.10 and was followed by general Accident, down 10 percent to $4.43, while Caribbean Assurance Brokers slipped just 4 percent to $2.87.
Berger Paints rose 10 percent to $7.76 in the Main Market, followed by Guardian Holdings with a 4 percent rise to $439.80, JMMB Group also gained 4 percent to close the week at $28.79, but 138 Student Living fell 6 percent to $4.35 and Caribbean Cement fell 4 percent to $50.
Investors should note that Margaritaville is listed on both the Main and USD markets, with similar values.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.2, well below the market average of 12.6. The Main Market TOP10 is projected to have an average of 322 percent, to May 2024, based on 2023 forecasted earnings.
The 2most highly valued Main Market stocks, representing 26 percent of the Main Market, are priced at a PE of 15 to 100, with an average of 31 and 20 excluding the highest PE ratios, with a PE of 23for the top half and 17excluding the stocks with the highest PEs.
The Junior Market Top 10 PE sits at 5.4 compared with the market at 10.7. There are 10 stocks representing 21 percent of the market, with PEs from 15 to 38, averaging 20, well above the market’s average. The top half of the market has an average PE of 15, possibly the lowest fair value for Junior Market stocks currently, and is projected to rise by 271 percent to May 2024.
The divergence between the average PE ratio of the Main and Junior Markets and the overall market valuation are important indicators of the likely gains for ICTOP10 stocks.
The markets are not bullish, but there continue to be cases of slow upward movements in some prices as investors respond to some recent attractive results, leading them to quietly nibble away at a number of stocks, gradually reducing the supply of a number of them that are attractively priced. The list includes, Access Financial, AMG Packaging, Everything Fresh, Dolphin Cove, Caribbean Cream, Caribbean Assurance Brokers, Lasco Distributors and Lasco Manufacturing, Main Event and Transjamaican Highway.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but not always. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks will likely deliver the best returns up to the end of May 2024 and are ranked in order of potential gains, computed using projected earnings 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.
The 2023 full year results reflect a greater level of rebound from the declines suffered following the fallout in the economy as a result of the advent of covid-19 and, in particular, the fallout in the global market with higher input costs that flowed from supply disruptions as well as tourism sector that were still recovering during the 2023 fiscal year that ended in March.
A total of 10,571,793 shares were traded for $57,562,911 up from 9,151,844 units at $35,266,609 on Thursday.
The PE Ratio, a formula used to compute appropriate stock values, averages 12.9 for the Main Market. The JSE Main and USD Markets’ PE ratios are calculated based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Jamaica Stock Exchange lost 23 cents and closed at a 52 weeks’ low of $9.77 after hitting an intraday 52 weeks’ low of $9.10 in trading 86,890 shares. Jamaica Producers shed 31 cents to end at $19.18 after an exchange of 1,100 shares, JMMB Group rallied $1.76 to $28.79 with traders dealing in 82,869 stock units, Kingston Properties skidded 39 cents to $7 with a transfer of 1,302 stocks. Kingston Wharves dipped $1.90 and ended at $27 with shareholders swapping 16,096 shares, Massy Holdings climbed 90 cents in closing at $101 in an exchange of 960 stocks, Mayberry Jamaican Equities popped 40 cents to end at $11.80, with 38,877 stock units crossing the exchange. NCB Financial rallied $1 to $74, with 26,455 units crossing the market, Sagicor Group lost 41 cents to end at $46.49 as investors exchanged 1,711 shares, 
Scotia Group dropped $1 in closing at $33 in trading 4,346 units, Seprod increased 50 cents to close at $68 with 18,577 stocks clearing the market and Wisynco Group rose 94 cents and ended at $17.95 trading 7,870 stock units.
Investors traded 5,520,175 shares for $12,285,763 versus 4,522,157 units at $12,393,874 on Thursday.
The PE Ratio, a measure of computing appropriate stock values, averages 10.7. The PE ratios of Junior Market stocks are computed using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Dolphin Cove fell 49 cents in closing at $16.51 with an exchange of 5,233 stocks. Express Catering rallied 49 cents and ended at $4.99 with investors trading 700 shares, Fontana popped 25 cents to end at $11.25, with 35,057 units crossing the exchange, Fosrich shed 11 cents to close at $1.95 with traders dealing in 41,048 units. Indies Pharma advanced 11 cents to $3.12 in an exchange of 10,015 shares, ISP Finance skidded $5 to $26 with investors dealing in 1,430 stocks, Lasco Distributors declined 24 cents to $4.46 after 84,480 stock units passed through the market. Lasco Financial gained 12 cents in closing at $1.95, with 13,366 stock units changing hands, Limners and Bards skidded 10 cents to end at $1.90 after exchanging 7,290 units, MFS Capital Partners rose 12 cents and ended at $2.42 with investors transferring 14 stocks. 
Spur Tree Spices climbed 7 cents to close at $2.20, with 137,150 shares clearing the market, Stationery and Office Supplies declined 14 cents in closing at $1.81 trading 117,757 stock units and tTech popped 15 cents to $2.35, with 12,606 shares crossing the market.
A total of 109,502 shares were exchanged for US$16,272 compared to 389,899 units at US$37,298 on Thursday.
At the close, MPC Caribbean Clean Energy declined 4 cents to 53 US cents, with investors exchanging 292 shares, Proven Investments gained 0.2 of a cent and ended at 14.8 US cents in exchanging 108,621 stocks, Sygnus Credit Investments dipped 1.43 cents to 9.06 US cents, with 477 stock units changing hands and Transjamaican Highway dropped 0.05 of a cent in closing at 1.7 US cents in an exchange of 112 units.
At the close, the JSE Combined Market Index rose 24.06 points to 334,006.20, the All Jamaican Composite Index skidded 1,591.81 points to settle at 353,416.92, the JSE Main Index popped 23.12 points to 320,329.81, the Junior Market Index just popped 0.28 points to 3,836.25, while the JSE USD Market Index slipped 1.59 points to end at 238.57.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange. It shows companies grouped by industry, allowing for easy comparisons between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
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.
Investors exchanged 140,206 shares for $3,469,318 versus 1,636,883 stock units at $13,787,664 on Thursday.
At the close, Agostini’s ended at $68 in an exchange of 783 shares, Angostura Holdings climbed 23 cents to $22.98 after a transfer of 10 units, Ansa McAl remained at $54.40 and closed with 17,580 stocks being traded. Calypso Macro Investment Fund gained 20 cents to close at $22 after exchanging 11 stock units, First Citizens Bank ended at $49, with 521 stocks crossing the market, FirstCaribbean International Bank ended at $7 with investors trading 1,408 shares. GraceKennedy shed 1 cent to close at $3.34 in an exchange of 450 units, Guardian Media declined 15 cents in closing at $2 in switching ownership of 4,132 stock units, JMMB Group rallied 4 cents to $1.34 with a transfer of 26 units. L.J. Williams B share ended at $2.59, with 990 stocks changing hands, Massy Holdings skidded 2 cents to end at $4.68 with traders dealing in 10,458 stock units, National Enterprises remained at $3.75, with 1,779 shares crossing the exchange. NCB Financial rose 25 cents to close at $3.25 with stakeholders exchanging 2,891 shares, One Caribbean Media gained 9 cents to close at $3.74, with 26,000 units crossing the market, Point Lisas ended at $3.60 after an exchange of 334 stock units. 
Prestige Holdings remained at $7.85 with investors dealing in 500 stocks, Republic Financial fell 5 cents to $125.95 as investors exchanged 13,719 stocks, Scotiabank ended at $74 while exchanging 309 stock units. Trinidad & Tobago NGL lost 10 cents in closing at $14.90 with investors swapping 8,773 stock units, Trinidad Cement remained at $3.10 after an exchange of 21,830 shares, Unilever Caribbean ended at $11.99 with investors transferring 1,035 shares and West Indian Tobacco skidded 10 cents to close at $11, with 26,667 stock units clearing the market.
A total of 9,151,844 shares were traded for $35,266,609 versus 7,549,896 units at $79,965,770 on Wednesday.
The JSE Main and USD Market PE ratios are calculated using the last traded prices in conjunction with ICInsider.com forecasted earnings for companies with the financial year ending up to August 2024.
Mayberry Jamaican Equities rose 40 cents to $11.40 with 78,223 stocks changing hands, MPC Caribbean Clean Energy skidded $12.30 to $69.70 with 2,285 shares clearing the market. NCB Financial shed $2 to close at $73 with investors dealing in 12,895 units, Sagicor Group increased $2.82 to $46.90 with traders exchanging 2,625 shares, Seprod dipped 50 cents in closing at $67.50 with 6,941 stocks crossing the market. Supreme Ventures shed 46 cents and ended at $27.99 with an exchange of 176,814 stocks, Sygnus Credit Investments popped 55 cents to end at $11.99 after trading 25,143 units and Wisynco Group skidded 84 cents to close at $17.01 with a transfer of 123,716 shares.
Jamaica Public Service 7% lost $5 and ended at $50 in an exchange of 1,000 units and Jamaica Public Service 9.5% dived $249.99 to end at $2800.01 after just one stock was traded.
A total of 389,899 shares were traded for US$37,298 compared to 45,555 stock units at US$14,460 on Wednesday.
MPC Caribbean Clean Energy declined 8 cents to 57 US cents and closed with an exchange of 682 units. Proven Investments shed 0.2 of a cent to end at 14.6 US cents, with 157,209 stock units changing hands, Sygnus Credit Investments fell 0.31 of a cent to 10.49 US cents, with 1,734 units being traded and Transjamaican Highway ended at 1.75 US cents with traders dealing in 130,269 stocks.
Investors traded 4,522,157 shares for $12,393,874 from 6,681,293 units at $19,409,351 on Wednesday.
The PE ratios of Junior Market stocks are computed using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Elite Diagnostic increased 19 cents in closing at $1.87, with 1,230 stock units crossing the market, Express Catering popped 23 cents to $4.50 and closed with 47,400 stocks changing hands, Image Plus Consultants gained 8 cents to end at $2.20, with 12,480 shares crossing the market. ISP Finance dipped 12 cents to close at $31 with investors dealing in 4,790 units, Lasco Distributors fell 24 cents and ended at $4.70 in switching ownership of 268,731 stock units, Lasco Manufacturing lost 49 cents to end at $5.20 with stakeholders exchanging 216,718 stocks. Limners and Bards rallied 19 cents in closing at $2 as investors exchanged 147,091 shares, Lumber Depot rose 8 cents to close at $2.04 with 18,654 units clearing the market, MFS Capital Partners gained 10 cents and ended at $2.30 trading 44,020 stocks.
Stationery and Office Supplies increased 15 cents to $1.95 with a transfer of 146,374 stock units and Tropical Battery shed 7 cents in closing at $1.98, with investors trading 20,003 shares.
