Carib Producers surges to top ICTOP10

Caribbean Producers surges in ICTOP 10

Caribbean Producers raced to the top of ICTOP10 listings this week after the company released full year results that showed a loss, but with the final quarter posting a profit of US$2 million before exceptional onetime cost and resulting IC Insider.com upgrading earnings from 65 cents per share to a $1.20 for the current year.
Based on years of underperformance and the knock from the closure of the hotel industry last year, many investors thought this stock was a lost cause. Based on research and understanding of the business sector, this publication had the stock the number three position on the Junior Market Top 10 list at the start of the year, just behind Caribbean Cream. So far to October, CPJ gained 90 percent and should exceed 100 percent this coming week and Caribbean Cream is up 67 percent ahead of second quarter results due in two weeks. Another TOP 15 stock this year, Caribbean Cement, surged on Friday to close at $120 after trading at a record high of $146.12, just short of IC Insde.com forecast in April this year in the report, captioned “Carib Cement Q1 profit triples” that the stock that last traded at $75 on the Main Market of the Jamaica Stock Exchange is projected to get to $150 in the next twelve months.
While the Jamaican stock markets continued to bounce around, the past week saw clearer signs of the upward momentum returning, with the Barita Investments APO issue out of the way. Bank of Jamaica’s raise its overnight rate to 1.5 percent from 0.50 percent and the tightening of the financial market continued with CD rates averaging 2.59 percent during the past week.
Elsewhere, in the Junior Market, AMG Packaging fell from $2.10 to $1.70, Stationery and Office Supplies rose from $5.76 from $6.49, Access Financial rose from $18.75 to $20, General Accident rose from $5.15 last week to $5.45, Medical Disposables rose from $4.46 to $5.15, Caribbean Assurance fell from $1.80 to $1.66 and Caribbean Cream moved up to $7 from $6.60 last week. In the Main Market, Caribbean Producers rose from $4.65 to $5.50 on Friday.
The top three Main Market stocks are Caribbean Producers, Berger Paints, followed by Guardian Holdings, with expected gains of 216 to 336 percent for the three, versus last weeks’ 208 to 263 percent.
The top three stocks in the Junior Market are Elite Diagnostic, followed by General Accident and Lasco Financial. All three have the potential to gain between 217 and 300 percent, from 250 percent and 307 percent last week.
This past week, the average gains projected for the TOP 10 Junior Market stocks moved from 214 percent to 203 percent and Main Market stocks moved from 166 percent to 180 percent.
The Junior Market closed the week with an average PE 12.7 based on ICInsider.com’s 2021-22 earnings and currently trades well below the target of 20 and the historical average of 17 for the period to March this year, based on 2020 earnings. The TOP 10 stocks trade at a PE of 6.7, with a 53 percent discount to that market’s PE. The overall Junior Market can gain 57 percent to March next year, based on an average PE of 20 and 34 percent based on an average PE of 17.
The JSE Main Market ended the week with an overall PE of 15.7, a little distance from 19 the market ended at in March, suggesting a 27 percent rise at a PE of 19 and 21 percent at a PE of 20 from now to March 2022. The Main Market TOP 10 trades at a PE of 7.6, with a 49 percent discount to the PE of that market, well off the potential of 20.
ICTOP10 is not intended to be a selection of the best stocks in the market but the most likely to be the biggest winners within fifteen months. ICInsider.com ranks stocks to separate the bigger winners from the rest, allowing investors to focus on potentially huge gains, helping to keep out emotional attachments to stocks that often result in the making of costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on possible increases 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 per share are ongoing, based on receipt of new information.

Persons who compiled this report may have an interest in securities commented on in this report.

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