The Junior Market ICTOP10 has two new listings since ICInsider.com’s report two weeks ago, with MFS Partners and Caribbean Assurance Brokers, moving into the Junior Market TOP10, following a period with some sharp movements in the Jamaica stock market and the top 10 listings.
AMG Packaging declined 14 percent, Elite Diagnostic dived 13 percent, Dolla Financial dropped 12 percent and Express Catering slipped 5 percent. Following the solid increase of 176 percent in the first quarter profit, Caribbean Flavours jumped sharply by 29 percent, followed by Kintyre Holdings, up 6 percent and Iron Rock Insurance with a gain of 5 percent.
Trading in the Main Market IC TOP 10 was steadier than the Junior Market, Margaritaville rising 14 percent, Guardian Holdings climbing 12 percent and Scotia Group rising 8 percent. 138 Student Living lost 9 percent, following a 36 percent fall in profit reported in the March quarter, Caribbean Producers and NCB Financial fell 6 percent each, even as the former reported a meaningful 20 percent increase in first quarter earnings.
The Junior Market had two new listings in the ICTOP10, following the falling out of Caribbean Flavours and Iron Rock Insurance. In the All JSE ICTOP10 listings, Express Catering and Scotia Group were replaced by Caribbean Assurance Brokers and MFS Partners.
The average PE for the JSE Main Market ICTOP 10 is just 5.5, well below the market average of 13.3. The Junior Market TOP10 stands at 5.9, less than half the market’s average of 13.5.
In the Main Market, ICTOP10 are 16 stocks with the highest values, accounting for 31 percent of the Main Market, with PE ratios between 15 and 43, with an average of 21 and a PE of 18 for the top half of the market with the highest values.
In the Junior Market IC TOP10, 16 stocks or 33 percent of the market have PEs ranging from 15 to 30, with an average of 21 and a PE of 19 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. Sometimes, they include weaker companies that may be oversold and end up on the list.
ICInsider.com ranks stocks are based on projected earnings, allowing investors to focus on the most undervalued stocks and remove emotions when selecting stocks for investments.
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. Revisions to earnings 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