Kintyre Holdings and Guardian Holdings are the two leading stocks in ICTOP10 this week that are poised to deliver the most gains in the Jamaica stock market, that is currently struggling to break out. Guardian just released full year results showing profit rising while Kintyre’s latest financial report shows the group in a profitable position that is pointing to a big bump in earings for 2025.
The Jamaica stock market struggled last week, even as interest rates on BOJ certificate of deposits have fallen since last year and seem poised to decline further, with Bank of Jamaica CD rates now under 6 percent currently. The total take from the money market dropped to $83 billion from $160 billion a year ago, and more than $100 billion a few eeks ago, The NIR is at a record high of US$5.79 billion and the price of oil on the world market has delined to just over US$60 per barrel and set to keep pressure on inflation. Profit results, of course, released by several companies are not inspiring enough to evoke increased buying interest across the market.
It is against the above that the IC TOP 10 performance can be viewed. During the past week, two stocks rose in the Junior Marlet TOP10 and seven declined. The Main Market TOP 10 list saw three stocks rising and five declining.
During the past week, in the Junior Marlet TOP10, Kintyre Holdings climbed 8 percent to close at 27 cents and Caribbean Flavours gained 5 percent to close at $1.25. Dolphin Cove lost 15 percent to end at $13.99, Caribbean Assurance fell 13 percent to $2.50, as investors await the long delaid 2024 full year results. AMG Packaging declined by 10 percent to $2.50, Dolla Financial lost 9 percent to close at $2.40, Limners and Bards dipped by 7 percent to $1.10 and Express Catering and Elite Diagnostic fell 4 percent to $2.76 and and $1.54 43 spectively.
In the Main Market ICTOP10, Proven Investments jumped 22 percent to 11 US cents, 138 Student Living climbed 17 percent to $3,80 and QWI Investments rallied to 8 1 cents for a four percent gain. Margaritaville fell 6 percent to $3 and Jamaica Broilers dipped 4 percent to $26.75 as losses incurred in the third quarter and inadequate explanation from management surrounding the loss weighed down on the stock.
There are no new listings for the All JSE ICTOP10, the Junior Market ICTOP10 and the Main Market ICTOP10 for the past week.
The average PE for the JSE Main Market ICTOP 10 is just 5.5, well below the market average of 13.3 and the Junior Market TOP10 stands at 7.1, just under half of the market average of 14.4.
Based on 2024 earnings estimates, the Main Market ICTOP10 is projected to gain an average of 281 percent by May 2025, providing better values than the Junior Market, that is projected to achieve a 212 percent increase for the same period.
In the Main Market ICTOP 10, there are 18 stocks with the highest values accounting for 35 percent of the Main Market, with PEs between 15 to 43, with an average of 21 and a PE of 19 for the top half of the market with the highest values.
In the Junior Market IC TOP10, 15 stocks or 31 percent of the market have PEs ranging from 15 to 53 with an average of 22 and a PE of 20 for half of the market with the highest PEs.
ICTOP10 focuses on likely yearly winners. The list includes some of the best companies in the market and others that are not blue chip. In some cases, they include weaker companies that may be oversold and end up on the list. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and remove emotions in selecting stocks for investments.
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.