Iron Rock up 31%, NCB Group claims all JSE ICTOP10 status

October 27, 2024 by
Jamaica’s top financial corporation, NCB Group is now in the All JSE ICTOP10 with another financial institution, Key Insurance falling out, in a week that saw the number one stock in the market, NCB’s subsidiary dropping on Friday to an intraday 52 weeks’ low of $270 as it also fell to a new 52 weeks’ low in Trinidad, with a PE of a mere 3.4 curent year’s earnings, providing a huge upside move when investors pounce eventually.

The All JSE TOP10 is compiled from all ordinary stocks listed on the Jamaica Stock Exchange with the highest potential to gain, based on projected 2024 earnings. This list is more exact than the Junior and Main Market TOP10 lists.

The markets had mixed fortunes during the week, with the Jamaica Stock Exchange Main Market index posting losses of 3,931 points, the All Jamaica Composite Index declined 2,476 points and the Junior Market slipped a mere 2.53 points. The moves resulted in prices of 6 stocks rising and 3 declining in the Main Market TOP10 while the Junior Market TOP10 had just 3 stocks rising and 5 declining.

ICTOP 10 Main Market listed Jamaica Broilers gained 7 percent for the week and dropped out of the TOP 10 with more room to run. The stock is in the news with several staff and directors buying. Historically, insider buying tends to be a very good indictor of price gains ahead for this stock but there is still selling in the $38 region with solid buying not currently visible in the order book.

Guardian Holdings continues to hold on to the number one buy position in all markets while Caribbean Assurance Brokers took over the Junior Market top spot from Elite Diagnostic.

In the Junior Market ICTOP10, Iron Rock Insurance rose an impressive 31 percent to close at a 52 weeks’ high of $4.80 and moved out of the TOP10. AMG Packaging gained 10 percent to $3.13 and tTech climbed 9 percent to $2.30. Caribbean Assurance Brokers fell 15 percent to $3.06,with very limited buying interest currently, Caribbean Cream shed 8 percent to close the week at an even more enticing price than last weeks’ $3.45 to end at $3.17 and Elite Diagnostic lost 4 percent to close at $2.30.

In the Main Market ICTOP10, Key Insurance recovered from last week’s 27 percent drop, to close at $2.53 for a 20 percent rise, General Accident dropped 13 percent last week and rose 18 percent this week, to end at $6.78, Jamaica Broilers rose 7 percent to $37.98, JMMB Group popped 5 percent to $22.78 and Berger Paints fell 5 percent to $8.

Iron Rock fell out of the Junior Market IC TOP10 and is replaced by Access Financial and Lasco Distributors returns to the JSE Main Market ICTOP 10, replacing Jamaica Broilers.

The average PE for the JSE Main Market ICTOP 10 stands at 5.2, well below the market average of 14 and the Junior Market TOP10 sits at 6.6, just more than half of the market, with an average of 12.
The Main Market ICTOP10 is projected to gain an average of 294 percent by May 2025, based on 2024 forecasted earnings and provide better values than the Junior Market with the potential to achieve 215 percent over the same period.
In the Main Market ICTOP 10, a total of 16 of the most highly valued stocks representing 31 percent of the Main Market have PEs between 15 to 108, with an average of 28 and 20 excluding the highest PE ratios, and a PE of 23 for the top half of the market with the highest values and 17 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 10 stocks, 21 percent of the market, with PEs ranging from 15 to 23 and a PE of 15 for half of the market with the highest values.
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.

Filed Under: Buy Rated, Feature Stories, JSE Combined, Stocks to watch Tagged With: , , , , , , , , , , , , , , , , , , , , ,

More losses for attractive Trinidad stocks

October 25, 2024 by
The Trinidad and Tobago Stock Exchange closed the week with just 2 points lost in the major market indices but with prices of 10 stocks falling and six rising following last week that ended with 7 stocks rising and 5 declining. Guardian Holdings, One Caribbean Media and Republic Financial closed on Friday at 52 weeks’ lows.
Trading left the PE ratios of the majority of stocks to be very attractive with big upside gains ahead.

The average PE ratio of the market is 10.7 compared to 5.4 based on the current year’s earnings. The huge difference between the two shows the undervalued level of the market currently is and the extent of the upside that lies ahead.

The only winning stocks of note for the week is Scotiabank up 35 cents to $56.35. Ansa McAl gave up the $2.79 gained last week to close at $60. Angostura Holdings lost 50 cents to end at $16 and West Indian Tobacco fell 35 cent to $6.15, a 52 weeks’ low.

Several stocks could gain more than 100 percent when the market comes back to life, these include, First Caribbean with a possible gain of 250 percent, Guardian Holdings at 500 percent, Republic Holdings at 120 percent, Massy Holdings at 120 percent, Trinidad Cement with 270 percent, Eric Solis 400 percent and One Caribbean Media with 300 percent.

Filed Under: Stock Market, Stocks to watch, TTSE Market Tagged With: , , , , , , , , , , , , , ,

Trinidad stocks had a steady week

October 23, 2024 by

The Trinidad and Tobago Stock Exchange closed the week with only a few points changing in the market indices after the week ended with 7 stocks rising and 5 declining, with the PE ratios of the majority of stocks remaining very attractive with big upside gains ahead, with a slight improvement over the prior week with declining stocks edging out those rising 9 to 8.

The average PE ratio of the market is 11.1 compared to 5.4 based on the current year’s earnings. The huge difference between the two shows how undervalued the market currently is and the extent of the upside that lies ahead.

Winning stocks of note for the week are Ansa McAl up $2.79, Republic Holdings up 43 cents and Guardian Holdings with a gain of 25 cents. CinemaOne fell 40 cents and Unilever Caribbean lost 24 cents were the two declines of note.

Several stocks could gain more than 100 percent when the market comes back to life, these include, First Caribbean with a possible gain of 240 percent, Guardian Holdings at 500 percent, Republic Holdings at 120 percent, Massy Holdings at 120 percent, Prestige Holdings at 100 percent, Trinidad Cement with 280 percent, Eric Solis 400 percent and One Caribbean Media with 285 percent.

Facebook Twitter Youtube
Filed Under: Stock Market, Stocks to watch, TTSE Market Tagged With: , , , , , , , , , , , ,

No Beryl ruffle for ICTOP10

July 15, 2024 by

Acquisitions ruled the market this past week with former ICTOP 10 stock Caribbean Producers and current TOP10 listed tTech major shareholding shifting to new owners, with the promise of more shares to be bought by the major shareholders in both cases. These developments had little impact on the overall market during the week but they sent a powerful message to investors, if they care to listen.
In Junior Market ICTOP10, Consolidated Barkeries rose 14 percent to close at $3.85, Caribbean Cream gained 13 percent to $3.75 and tTech rose 5 percent to $2.50 following a switch in ownership of the company. Access Financial fell 9 percent to $19.95 followed by One Great Studio, down 7 percent to 77 cents.
Main Market TOP10 listed Berger Paints fell 12 percent in closing at $7.90 and Key Insurance declined 9 percent to close at $2.05. There were no stocks with gains for the week of note.
Jamaica Broilers returns to the Main Market TOP10, replacing Palace Amusement with a moderate rise to $1.19. The Junior Market had no changes.
The average PE for the JSE Main Market ICTOP 10 stands at 4.9, well below the market average of 13.9 and the Junior Market TOP10 sits at 6.9, just over half of the market, with an average of 12.8.
The Main Market ICTOP10 is projected to gain an average of 312 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 207 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 19 excluding the highest PE ratios, and a PE of 23 for the top half and 16 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 14 stocks, or 30 percent of the market, with PEs ranging from 15 to 50, averaging 14, well above the market’s average. The average PE for the top half of the market is 17, possibly the lowest fair value measure for stocks currently.
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.

Filed Under: Buy Rated, Feature Stories, Stock Market, Stocks to watch Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , ,

Big ICTOP10 price movements

June 24, 2024 by

The past week saw the return to trading of shares in iCreate and Edufocal, with the former enjoying a bounce in price from 43 cents to close at 60 cents, with the latter falling from 85 cents to 65 cents following the release of the 2023 audited accounts that were highly negative for the stock, with the company posting a big annual loss.
In a week when the Junior Market fell 1.72 percent and the Main Market was down 0.97 percent the ICTOP10 stocks ended with declining stocks outnumbering those rising. JSE Main Market had two winners and three losers of note and just two winners and four losers of note in the Junior Market.
The Junior Market ICTOP10 Caribbean Assurance Brokers rose 7 percent to close at $3.80, followed by Lumber Depot with a rise of 4 percent to $2.76. Consolidated Bakeries suffered a big 28 percent fall to $1.55 but had no bids at the close of the market, Caribbean Cream dropped 11 percent to $3.56, Dolla Financial fell 8 percent to $2.30 and Stationery and Office Supplies lost 6 percent to close at $1.59.
In the Main Market, Guardian Holdings was the only stock with note-worthy gains, with an increase of 4 percent to $360. Berger Paints lost 11 percent in closing at $8, JMMB Group fell 8 percent to $22.25 and Margaritaville dipped 6 percent to close at $13.60.
There are no new additions to the ICTOP10 for the week.
The average PE for the JSE Main Market ICTOP 10 stands at 5.1, well below the market average of 13.9 and the Junior Market TOP10 sits at 6.4, just over half of the market, with an average of 12.4.
The Main Market ICTOP10 is projected to gain an average of 303 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 230 percent over the same period.
In the Main Market ICTOP 10, a total of 16 of the most highly valued stocks representing 31 percent of the Main Market are priced at a PE of 15 to 103, with an average of 29 and 19 excluding the highest PE ratios, and a PE of 23 for the top half and 16 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 12 stocks, or 26 percent of the market, with PEs ranging from 15 to 45, averaging 20, well above the market’s average. The average PE for the top half of the market is 17, possibly the lowest fair value measure for stocks currently.
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.

Filed Under: Buy Rated, Feature Stories, Stock Market, Stocks to watch Tagged With: , , , , , , , , , , , , , , , , , , , , , , , ,

Nice price movements in ICTOP10

June 15, 2024 by

The listing of Omni Industries on the Junior Market on Tuesday, was the highlight of the Jamaica Stock Exchange during the past week, following a successful offer of share to the public. The market  closed with gains in the Main and Junior Market indices, leading to just four stocks rising in the ICTOP10 Main Market and only two in the Junior Market, with gains ranging from three to 12 percent and five with losses in the Junior Market TOP10 and six in the Main Market.

Omni Industries that was never in the TOP10 closed at $1.12, after the price hit a record high of $1.42 on Wednesday, sits in the last quartile of the overall Junior Market, with a fairly healthy PE of 14.
Lasco Financial, last week’s new listing to the Junior Market ICTOP10 climbed 12 percent to $1.70 and dropped out of the listing. Caribbean Cream rallied 7 percent to $4. Caribbean Assurance Brokers fell 8% to close at $3.55, followed by Access Financial, Lumber Depot and tTech falling by 5 percent each to close at $19, $2.65 and $2.35 respectively.
In the Main Market, Berger Paints, General Accident and Palace Amusement rose 8 percent to close at $8.95, $7 and $1.15 respectively. Margaritaville fell 8 percent to close at $14.50, Key Insurance fell 6 percent to $2.24 and JMMB Group dipped 5 percent to $24.25.
The Junior Market listed AMG Packaging is the the only new addition to the ICTOP10 for the week, coming in at $3.30.
The average PE for the JSE Main Market ICTOP 10 stands at 5.1, well below the market average of 14 and the Junior Market TOP10 sits at 6.7, just over half of the market, with an average of 12.4.
The Main Market ICTOP10 is projected to gain an average of 295 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 212 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 103, with an average of 30 and 19 excluding the highest PE ratios, and a PE of 23 for the top half and 16 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 12 stocks, or 26 percent of the market, with PEs ranging from 15 to 45, averaging 20, well above the market’s average. The average PE for the top half of the market is 17, possibly the lowest fair value measure for stocks currently.
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.

Filed Under: Buy Rated, Feature Stories, Stock Market, Stocks to watch Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , ,

Carib Assurance jumps 32% in ICTOP10

June 3, 2024 by

Caribbean Assurance Brokers is this week’s star performer, jumping 32 percent to $3.83, following the announcement of a 428 percent hike in dividend to 14.11 cents from just 2.67 cents last year, with the company reporting earnings of 47 cents per share for 2023, including a $17 million charge for doubtful debt, amounting to 6.5 cents per share which was reversed in the first quarter to March this year, but that did not prevent the first quarter results from falling compared with 2023.
Other stocks with notable price movements are tTech with a 13 percent rise to $2.45 followed by AMG Packaging, which climbed 6 percent to $3.25, while Access Financial and Edufocal rose 5 percent to $21 and 84 cents respectively.
In the Main Market, Berger Paints popped 6 percent to close at $8.50, JMMB Group rose 4 percent to $25.50, Palace Amusement fell 7 percent to close at $1 and Key Insurance slipped 4 percent to $230.
Dropping from the ICTOP10 is AMG Packaging which Dolla Financial replaces in the Junior Market. There are no changes to the Main Market list.
The Junior Market ICTOP10, , followed by Access Financial, with an 11 percent rise to $20. Edufocal dropped 11 percent to 80 cents, while Caribbean Assurance Brokers is down 9 percent to close at $2.90 and Caribbean Cream fell 7 percent to $3.90.
The average PE for the JSE Main Market ICTOP 10 stands at 5.1, well below the market average of 14.2 and the Junior Market TOP10 sits at 6.8, just over half of the market, with an average of 13.
The Main Market ICTOP10 is projected to gain an average of 296 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 207 percent over the same period.
In the Main Market ICTOP 10, a total of 16 of the most highly valued stocks representing 31 percent of the Main Market are priced at a PE of 15 to 96, with an average of 30 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 12 stocks, or 26 percent of the market, with PEs ranging from 15 to 53, averaging 21, well above the market’s average. The average PE in the top half of the market is 18, possibly the lowest fair value measure for stocks.
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.

Filed Under: Buy Rated, Feature Stories, Stock Market, Stocks to watch Tagged With: , , , , , , , , , , , , , , , , , , , , , , , ,

Three additions to ICTOP10

May 26, 2024 by

In a week of volatility in the Junior Market and a calmer Main Market, the Junior Market TOP10 has one new addition and the Main Market two after five Junior Market stocks posted notable moves and three in the Main Market.
Dropping from the ICTOP10 are Dolla Financial from the Junior Market and Lasco Manufacturing and Jamaica Broilers from the Main Market.
The Junior Market ICTOP10, AMG Packaging, climbed 12 percent to $3.25, followed by Access Financial, with an 11 percent rise to $20. Edufocal dropped 11 percent to 80 cents, while Caribbean Assurance Brokers is down 9 percent to close at $2.90 and Caribbean Cream fell 7 percent to $3.90.
In the Main Market, Pulse Investments popped 9 percent to close at $1.75, JMMB Group rose 4 percent to $24.51 while Berger Paints fell 6 percent to close at $8.
Lumber Depot is the only new listing for the Junior Market ICTOP10 for the week, this follows the announcement by the company of the purchase of a 35 percent interest in Atlantic Hardware. Earnings per share for the current fiscal year starting June, is projected at 35 cents by ICInsider.com. General Accident and VM Investments are new additions to the Main Market ICTOP10. VMI posted b first quarter results with gains from securities providing the bulk of the profits. Some of these gains are from the one off sale of its associate company. With the investing environment slowly improving, the company appears set to enjoy a profitable year, accordingly, ICInsider.com’s estimate is for earnings of 50 cents per share, which could be bettered if investments deliver more returns in the next three quarters.
The average PE for the JSE Main Market ICTOP 10 stands at 5.1, well below the market average of 13.6 and the Junior Market TOP10 sits at 6.4, just over half of the market, with an average of 12.5.
The Main Market ICTOP10 is projected to gain an average of 298 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 228 percent over the same period.
In the Main Market ICTOP 10, a total of 16 of the most highly valued stocks representing 31 percent of the Main Market are priced at a PE of 15 to 86, with an average of 29 and 19 excluding the highest PE ratios, and a PE of 23 for the top half and 16 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 11 stocks, or 24 percent of the market, with PEs ranging from 15 to 43, averaging 21, well above the market’s average. The average PE in the top half of the market is 17 and is possibly the lowest fair value measure for stocks, currently.
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.

Filed Under: Buy Rated, Feature Stories, Stock Market, Stocks to watch Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , ,

Stocks to watch with explosive potentials

May 6, 2024 by

Better than expected reported profits compared with the prior period has been the driver of local stock prices since last year into the current year. Late last year, Transjamaican Highway and Scotia Group reported a surge in profits over the previous year and investors rewarded them with a jump in their price and they did that for Caribbean Cement that released results early last week.  
Last week, investors drove up General Accident shares to a new 52 weeks’ high and so too Caribbean Cement. The above are clear messages that profit growth outweighs interest rates as the driver of stock prices.
Three companies reported above average profits that should help lift prices over the coming days or weeks and are worth watching.
Caribbean Cement rose from $58 last week to trade as high as a new 52 weeks’ high of $69.90 in response to profits in the first quarter to March this year, from an increase of nearly 12 percent in revenues to $7.6 billion from $6.8 billion in 2023 with profits jumping 546 percent to $1.9 billion compared to a mere $289 million in last year first quarter.
Based on closing quotes buying interest is at the $60 level with a few shares at $61 but offers are at $69 to $70 levels and above. The gap could result in a standoff for a few days, with the stock popped strongly already.
General Accident reported earnings of $0.39 per share in its interim financial report for 2023 but released audited accounts with $0.52 per share earnings instead. The audited accounts show profit revised to $0.71 from $0.53 previously reported in 2022, based on the new accounting standard – IAS17 which requires insurance companies to report income and expenses dramatically differently from the previously used format.
ICInsider.com forecast earnings of $1.10 for the 2024 fiscal year. In the past two months, there was heavy buying in the stock, with 223,053 traded on Friday with the price closing at $6.50. A total of 1,026,154 units were traded during the week. In April, trading amounted to 19.77 million units and 23.8 million shares in March. These numbers suggest that Mayberry Investment disposed of the majority of shares they previously owned. At the close on Friday, there were only 8 offers on the board, amounting to less than 20,000 shares, up to a price of $9.57. There are 300,000 units on the bid over $5.95.

Caribbean Assurance Brokers selling at a PE of just 3 based on current year’s earnings.

Caribbean Assurance Brokers reported solid gains in profit for 2023 compared to 2022. The latest audited results show the company earning $0.47 per share, in line with ICInsdier.com’s projection before the release of the third quarter results that showed a fall in revenues and profit. The company reported earnings of $0.30 per share in the previous year. ICInsdier.com projects earnings of $0.65, for 2024.
Buying is strong at the $2-2.20 level but with the results, many of these bids will move up to meet supply, mostly at $2.55 and above. With the latest results, released after trading on Friday, there should be major adjustments to bid and offer prices at the start of trading on Monday.
Dolphin Cove closed at a 52 weeks’ high of $20.03 and seems to be grudgingly moving higher, with bids mostly under $20 for small amounts. Offers are drying up with just 14 on the board, between $21 and $25, amounting to 144,000 shares. The trendline indicates the price slowly moving towards $23 in the weeks ahead. With the first quarter results due in days, the trajectory could accelerate with tourist traffic and the recently increased dividend payment suggests that profit should be seeing a bounce.
Also to be watched is Caribbean Producers with just 4 bids at the close on Friday, but sellers are overwhelming buyers at the close. The price looks set to fall below $8, before too long.
JMMB Group is another stock under pressure with more sellers than buyers. NCB Financial releases results on Thursday and is expected to declare an interim dividend.

Filed Under: Breaking News, Stock Market, Stocks to watch Tagged With: , , , , , , , , , , , ,

 CPJ enters ICTOP10 Broilers out

April 7, 2024 by

With what has become the norm, the markets pulled back to start April from the pump-up end of month prices in March, resulting in varied outcomes for the ICTOP10 and ending with Jamaica Broilers falling from the Main Market TOP10 and Caribbean Producers entering at the number 9 spot.

There were no changes to the list of companies in the Junior Market TOP10 this past week.
Caribbean Producers is the primary supplier of foods and beverages to the growing tourist industry on the north coast of Jamaica and St Lucia, the company is also expanding its meat processing arm as well as retail areas in both countries. ICInsider.com’s projected EPS is $1.35 for the fiscal year to June 2024. With plans for long term growth in the local tourism sector, the company has a B base for growth for many years to come.
Jamaica Broilers although out of the TOP10, is undervalued and possesses good long term growth prospects as they constantly spend resources to expand or modernise the operation.
In Main Market activity this past week, General Accident jumped 16 percent to $6.15, a 52 weeks’ high, with buying interest in recent weeks, being very high and active supply in the market low, a recipe for higher prices ahead and Key Insurance lost 14 percent to end at $2.22.
The Junior Market closed the week with a 17 percent jump for Iron Rock Insurance to $2.51 while Consolidated Bakeries gained 8 percent to $2.19 but Jamaican Teas dropped 13 percent to $2.40 and Caribbean Cream lost 8 percent to land at $3.58 while Express Catering and Access Financial fell by 7 percent to $3.70 and $19.86 respectively.
The average PE for the JSE Main Market ICTOP 10 stands at 5.5, well below the market average of 13.1 and the Junior Market TOP10 sits at 7.2 over half of the market, with an average of 12.5.
The Main Market ICTOP10 is projected to gain an average of 274 percent by May 2025, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 183 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 106, with an average of 30 and 27 excluding the highest PE ratios, and a PE of 24 for the top half and 21 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 9 stocks, or 20 percent of the market, with PEs ranging from 15 to 50, averaging 22, well above the market’s average. The top half of the market has an average PE of 17, possibly the lowest fair value for stocks, currently.
Of great import is that the averages of both markets are now converging around a PE of 20 for close to a third of the market, as the year is coming to a close and with more information available on the full year’s earnings.
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 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.

Filed Under: Buy Rated, Feature Stories, Stock Market, Stocks to watch Tagged With: , , , , , , , , , , , , , , , , , , , , ,