The big news this week in the ICTOP10 is the 17 percent drop in the price of NCB Financial, to a multi year low of $34, to be the number two listing in the Main Market ICTOP10 and Access Financial jumping 12 percent to close at $19.20 and falling out of the Junior Market ICTOP10.
The Junior Market ICTOP10, Dolla Financial, closed 5 percent higher to $2.54, with MFS Partners dropping 17 percent to 38 cents, followed by Elite Diagnostic with a loss of 7 percent to end at $1.51, Consolidated Bakeries lost 5 percent to $1.51 and Caribbean Assurance Brokers declined by 5 percent to $1.99. Main Market stocks ended 138 Student Living falling 13 percent to $3.65 and Innovative Energy slipping 5 percent to $1.21. QWI Investments, up just 3 percent, was the biggest winner.
Despite climbing 17 percent during the week, Jetcon Corporation made it into the Junior Market ICITOP10 with an earnings forecast of 35 cents. Express Catering dropped out of the All JSE Markets ICTOP10 and is replaced by Consolidated Bakeries.
The average PE for the JSE Main Market ICTOP 10 is 5.6, well below the market average of 13.4 and shows 15 stocks with the highest values, accounting for 29 percent of the market, with PE ratios of 15 to 40. The average PE for the market is 24 and 20 for the half with the highest values.
The Junior Market TOP10 stands at 4.8, well below half the market’s average of 13.4, with 18 stocks representing 38 percent of the market having PEs ranging from 15 to 40, with an average of 22 and 19 for half of the market, with the highest PEs.
ICTOP10 focuses on likely yearly winners. The list includes some of the best as well as newer companies that have not been tested over time. ICInsider.com ranks companies based on projected earnings for easy assessment of companies in making investment decisions.
IC TOP10 stocks that will likely deliver the best returns are ranked in order of potential gains, computed using projected earnings, allowing investors to focus on the most undervalued companies when making investment decisions.
IC TOP10 stocks that will likely deliver the best returns 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. Earnings revisions are ongoing, based on the receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.