The price of Kintyre Holdings dropped 15 percent during the week to close at a 52 weeks’ low of 28 cents and jumped to the top of the All JSE ICTOP10 with potential gains of 471 percent and pushing Guardian Holdings to the number 2 spot, projected to gains just over 400 percent, with markets declining during the past week with the Main Market falling less than one percent and the Junior Market falling 2.3 percent.
The Transjamaican’s public share issue which is 36 percent oversubscribed, diverted funds away from the secondary market, resulting in the ICTOP10 ending with the prices of just two stocks rising in the Junior Market listing while seven declined. In the Main Market listing three stocks rose and six declined.
In the Junior Market ICTOP10, Express Catering rebounded from a loss of the previous week with an 11 9 percent climb to $2.89 and Iron Rock Insurance just managed to eke out a 3 percent rise to $3.80. and dropped out of the Junior Market ICTOP10 allowing Dolphin Cove to return.
AMG Packaging lost 21 percent to close at $2.30, following an 18 percent drop in the previous week, Kintyre Holdings suffered a 15 percent decline to 28 cents, accompanying heavy selling in the stock. declined 10 percent to $2.60, Caribbean Assurance declined by 14 percent to close at $2.36, Caribbean Flavours fell 10 percent to $1,16, Limners & Bards slipped 7 percent to $1.12 and Dolla Financial lost 3 percent to close the week at $2.66.
In the Main Market ICTOP10, Margaritaville rose 5 percent to $15.50 and VM Investments gained 3 percent to $2.25. $15.
NCB Financial hit an eight and a half year low of $42 after falling 7 percent during the week after trading as low as $40.10, 38 percent below the $65 the new shares were sold at last year to the public, QWI Investments fell 6 percent to 77 cents and Jamaica Broilers dropped 5 percent to $35.24.
The All JSE ICTOP10, compiled from all listed ordinary stocks on the Jamaica Stock Exchange ended the week with Caribbean Producers returning to the All JSE ICTOP10, while Express Catering fell out.
There is one change to the Junior Market ICTOP10 and none in Main Market ICTOP10, with the Junior Market Iron Rock Insurance returning as Dolphin Cove drops out with the B recovery continuing for the stock price following the sharp fall two weeks ago.
The average PE for the JSE Main Market ICTOP 10 sits at just 5.7, well below the market average of 15 and the Junior Market TOP10 stands at 7.6, more than half of the market, with an average of 13.9.
Based on 2024 earnings estimates, the Main Market ICTOP10 is projected to gain an average of 2515 percent by May 2025, providing better values than the Junior Market, that is projected to achieve a 211 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 42, with an average of 21 and a PE of 20 for the top half of the market with the highest values.
In the Junior Market IC TOP10, 12 stocks or 26 percent of the market have PEs ranging from 15 to 29 with an average of 19 and a PE of 17 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 non-blue chip stocks and in some cases weaker companies that may be oversold and therefore end up on the list. 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.