Trading activities in the Jamaica Stock Exchange in the past week, resulted in Guardian Holdings rising 14 percent and dropping to the number two position in the All JSE TOP10 with the potential to increase by 380 percent, with Elite Diagnostic moving into the number one spot, with the potential to gain 400 percent over the next twelve months.
During the week, the Jamaica Stock Exchange Main Market index posted gains of just over 400 points as the All Jamaica Composite Index shed 2,669 points for the week with the Junior Market falling just 21 points for the week resulting in one stock rising by 6 percent, two with notable declines and in the Main Market with one climbing 17 and one by 4 percent, in a week when only three stocks declined by three percent or less.
In the Junior Market ICTOP10, Elite Diagnostic rallied 6 percent during the week to $1.82 and is poised to move higher with the supply of the stock being limited. Iron Rock Insurance fell 9 percent to $3.55, Lasco Financial dipped 5 percent to $1.63 and Caribbean Assurance slipped 3 percent to close at $3.29.
In the Main Market ICTOP10, Guardian Holdings rose 17 percent to close at $365, followed by 138 Student Living with a rise of 4 percent to $4.16, while Key Insurance popped 3 percent higher to $2.68.
Margaritaville slipped out of the All JSE TOP10 following full year results to May showing a sharp increase in cost that will most likely carry over into the 2025 financial year and is replaced by tTech. Lasco Distributors replaces Margaritaville in the JSE Main Market ICTOP 10. No stock moved in or out of the Junior Market IC TOP10 this week.
The All JSE TOP10 includes ten stocks listed on the Jamaica Stock Exchange with the highest potential gains, based on projected 2024 earnings. This list is more exact than the combined Junior and Main Market TOP10 lists.
The average PE for the JSE Main Market ICTOP 10 stands at 5.3, well below the market average of 14.2 and the Junior Market TOP10 sits at 6.5, just more than half of the market, with an average of 12.2.
The Main Market ICTOP10 is projected to gain an average of 288 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 223 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 29 and 21 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 15 stocks, 31 percent of the market, with PEs ranging from 15 to 23 and a PE of 17 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.
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