Markets were relatively calm this past week with the Main Market index rising and the Junior Market index slipping mildly, but that only misses some meaningful price moves in the TOP10. The effect on the ICTOP10 was mixed, with the All JSETOP10 seeing two changes and none for the Main and Junior Market TOP10. Price changes were limited in the Junior Market but pronounced in the Main Market TOP10.
At the close of the week, the mercurial price mover that trades as Kremi (Caribbean Cream) with delayed quarterly results, climbed 13 percent in closing at $3.45. Investors could be missing out on bargain prices currently. The company’s November quarter revenues rose a solid 9.5 percent, followed by a further rise by 13 percent in the 2024 fourth quarter, compared to just 2.6 percent for the nine months to November last year, suggesting a big increase of revenues and profit for the current fiscal year. AMG Packaging fell 7 percent to $2.61.
In the Main Market, Berger Paints and 138 Student Living gained 8 percent to $6.85 and $4.30 respectively and Pulse Investments rose 5 percent to $1.60. Stocks declining include Guardian Holdings and Margaritaville with a 10 percent fall to $316.40 and $12.50 respectively and Key Insurance lost 7 percent to $2.40. By the end of the week, Guardian Holdings recovered from a fall to $288.
The All JSE TOP10 includes ten stocks on the Jamaica Stock Exchange with the highest potential gains in the market currently, based on projected 2024 earnings. The chart now shows Pulse Investments and Elite Diagnostic entering the All JSE TOP10 list as Access Financial and Iron Rock Insurance dropped out.
There were no changes to the Main Market and Junior Market TOP10 listings.
The average PE for the JSE Main Market ICTOP 10 stands at 4.8, well below the market average of 14 and the Junior Market TOP10 sits at 5.9, just over half of the market, with an average of 12.
The Main Market ICTOP10 is projected to gain an average of 331 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 267 percent over the same period.
In the Main Market ICTOP 10, a total of 17 of the most highly valued stocks representing 33 percent of the Main Market are priced at a PE of 15 to 102, with an average of 29 and 20 excluding the highest PE ratios, and a PE of 23 for the top half and 17 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 7 stocks, or 15 percent of the market, with PEs ranging from 15 to 22.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. 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 on or around May 2025 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, resulting 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.
