Lasco Manufacturing that IC Insider last week suggested readers keep a keen eye on, reported outstanding full year results and climbed 18.5 percent to $3.85 on Friday, exit the Junior Market IC Insider.com’s TOP 10.
Lasco Financial came in with full year results that were above the 2018 figures and the price moved up to $5. IC Insider downgraded 2020 earnings to 60 cents per share, the combination of the two changes, pushed the stock outside the TOP 10, Jetcon is the third stock to move out of the top tier. Coming in to replace the above are CAC 2000, Everything Fresh and Consolidated Bakeries, all three newcomers have been having challenges with growing profits.
Carreras reported flat profits for the year to March resulting in downgrading of 2020 profits, with the stock no longer in the TOP 10, also leaving is Caribbean Cement with the price recovering during the week to close at $78, the two are replaced by Stanley Motta and Sygnus Credit Investments.
The three leading Junior Market stocks for the coming week are, Caribbean Producers with projected gains of 272 percent, followed by Iron Rock with likely gains of 243 percent and Medical Disposables with possible gains of 233 percent.
Sterling Investments with potential gains of 174 percent leads main market stocks, followed by Radio Jamaica with 159 percent and VM Investments in third spot with the potential to gain 141 percent within twelve months.
The main market, closed the week with the overall PE at 14.8 and the Junior Market at 11.1. The PE ratio for Junior Market Top 10 stocks averages 6.8 and the main market PE 9. These levels, point to a big upside for TOP 10 stocks over the next 12 months and Junior Market stocks in particular.
The TOP 10 stocks now trade at an average discount of 39 percent to the average for the Junior Market Top stocks and main market stocks trade at a discount of 39 percent to the overall market.
TOP 10 stocks are likely to deliver the best returns within a 12 months period. Projected earnings, for each company’s current fiscal year, are used in determining, the selected stocks. The PE for and projected earnings for each stock are computed to show potential gains for the year, which are ranked in descending order. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.
This report is compiled by persons who may have interest in the securities commented on.
