The big news for the market for the past week was the release of the prospectus of the long-awaited Initial Public offer of Spur Tree Spices priced at $1 per share at PE of 8.7 based on earnings before tax and propelling the stock in this week’s Junior Market ICTOP10. Investors should also see the prospectus release for Jamaica Fibreglass Products this week or next.
Spur Tree pushed Jetcon Corporation out of the TOP10, with the latter enjoying a 9 percent price rise to 99 cents. Over in the Main Market TOP10, Sagicor Group rose just 2 percent to close at $53.
During the week, AMG Packaging rose 3 percent to $2.12, Access Financial Services climbed 7 percent to $20.95, Lasco Distributors rose 6 percent to $3.47, but Elite Diagnostic and Honey Bun both fell 10 percent to $2.71 and $8.55, respectively and Caribbean Cream fell 4 percent to $5.70.
The public offer for Spur Tree Spices shares opens on Wednesday this week and should be heavily oversubscribed, with closure likely by the end of the week.
This week, the top three Main Market stocks are Guardian Holdings, followed by JMMB Group and Radio Jamaica, all projected to gain between 183 and 261 percent, up from 178 and 257 percent last week.
The Junior Market top three stocks changed a bit during the week, with AMG Packaging leading, followed by Caribbean Assurance Brokers, with Access Financial Services moving from the second spot to the third position. All three can gain between 158 and 230 percent versus 167 and 240 percent previously.
The average gains projected for the TOP 10 Junior Market stocks moved from 149 percent last week to 151 percent and Main Market stocks moved from 155 percent to this weeks’ 154 percent.
The Junior Market closed the week with an average PE of 14.4 based on ICInsider.com’s 2021-22 earnings and is currently well below the target of 20 and the average of 17 at the end of March this year based on 2020 earnings. The TOP 10 stocks trade at a PE of a mere 8.1, with a 44 percent discount to that market’s average.
The Junior Market can gain 39 percent to March next year, based on an average PE of 20 and 18 percent based on an average PE of 17.
Eleven stocks representing 26 percent of all Junior Market stocks with positive earnings are trading at or above this level, similar to last week, indicating that many others will rise towards the 17 mark in the months ahead.
The average PE for the JSE Main Market is 16.1, some 18 percent less than the PE of 19 at the end of March and 24 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 8.1, representing a 51 percent discount to the market and well below the potential of 20. A total of 13 stocks or 28 percent of the market trade at or above a PE of 19, with most over 20, for an average roundabout 25, suggesting that the accepted multiple is between 20 and 25 times the current year’s earnings.
ICTOP10 focuses on likely yearly winners; accordingly, the list may or may not include the best companies in the market.
ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings per share are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Thirty five securities traded up from 34 on Thursday and ended with 14 rising, 16 declining and five left unchanged. At the close, the Junior Market Index popped 28.74 points to close at 3,397.48 and closed out the week ahead of the previous week’s close.
Trading averaged 109,165 shares at $313,769 down from 458,924 shares at $1,621,257 on Thursday and month to date, an average of 396,903 units at $1,257,809, compared to 413,716 units at $1,312,969 on Thursday. November closed with an average of 160,358 units at $581,730.
Lasco Manufacturing rallied 9 cents $4.84 in exchanging 10,921 stock units, Limners and Bards slipped 5 cents to end at $3.65 after 353,510 shares crossed the market, Lumber Depot increased 7 cents to end at $3.03 after trading 1,770,926 stocks. Mailpac Group rallied 6 cents to $3.40, with 102,075 units changing hands, Medical Disposables declined 44 cents to close at $6.06 with an exchange of 5,892 units and Stationery and Office Supplies popped 35 cents to $6.39 after an exchange of 16,392 shares.
Market activity led to 34 securities trading compared to 38 on Wednesday, ending with 10 rising, 18 declining and six unchanged. The Junior Market Index lost 20.92 points to 3,368.74.
Trading averaged 458,924 shares at $1,621,257 up from 113,634 units at $381,723 on Wednesday and month to date, averaging 413,716 units at $1,312,969 versus 410,995 shares at $1,294,418 on Wednesday. November closed with an average of 160,358 units at $581,730.
Lumber Depot declined 12 cents in closing at $2.96, with 809,985 stock units clearing the market, Mailpac Group dropped 6 cents to end at $3.34 after exchanging 9,793,796 shares, Medical Disposables rose 45 cents to close at $6.50 after 82,174 units changed hands. Paramount Trading fell 14 cents to end at $1.10 while exchanging 18,000 stocks, SSL Venture increased 5 cents to 96 cents with 20,386 stocks changing hands and Stationery and Office Supplies rallied 54 cents to $6.04 while exchanging just 1,056 shares.
Overall, 38 securities traded the same as on Tuesday with 16 rising, 14 declining and eight unchanged. At the close, the Junior Market Index rose 11.26 points to 3,389.66.
At the close, Access Financial popped $1 to $21 in exchanging 2,141 shares, Blue Power gained 17 cents to close at $3 with 21,667 units changing hands, CAC 2000 rallied 75 cents to $8.25 after an exchange of 100 stocks. Cargo Handlers spiked 53 cents to end at $7.80, with 100 stock units crossing the market, Caribbean Assurance Brokers advanced 12 cents to $2.40 in trading 69,483 stocks, Caribbean Cream rose 10 cents to close at $5.80 in an exchange of 7,729 shares. Consolidated Bakeries declined 17 cents to end at $1.17 after 885,402 units crossed the market, Derrimon Trading increased 6 cents to $2.26, with an exchange of 138,670 stock units, Dolphin Cove dropped $2.90 in closing at $14, with 186,419 units clearing the market. Elite Diagnostic shed 20 cents to $2.80 after exchanging 24,302 shares, Express Catering dropped 24 cents to end at $5.65 in switching ownership of 34,582 stock units, Fontana fell 5 cents to $7.25 while exchanging 31,070 stocks. 
Honey Bun lost 10 cents to $9.15 with the swapping of 7,853 units,ISP Finance climbed $3.80 to $41.80 trading a mere 4 shares, Jamaican Teas dropped 13 cents to close at $3.75 after exchanging 179,721 stock units. Jetcon Corporation popped 10 cents to end at $1, with 100 stocks changing hands, Lasco Distributors climbed 23 cents to $3.39 trading 5,266 stocks, Limners and Bards fell 19 cents to close at $3.50, with 443,763 stock units changing hands. Lumber Depot popped 8 cents in closing at $3.08 in an exchange of 470,787 shares, SSL Venture shed 5 cents ending at 91 cents trading 28,710 units and Stationery and Office Supplies declined 54 cents to $5.50 after exchanging 17,209 stocks.
Overall, 38 securities trading compared to 37 on Monday and ended with 16 rising, 10 declining and 12, closing unchanged. At the close, the Junior Market Index shed 6.91 points to settle at 3,378.40.
Trading averaged 223,180 shares at $1,040,526 in contrast to 103,073 shares at $404,366 on Monday and the month to date, averaging 432,437 units at $1,360,229 compared to 448,698 units at $1,385,073 on Monday. November closed with an average of 160,358 units at $581,730.
Fontana climbed 27 cents to $7.30 while exchanging 29,353 stock units, Future Energy Source advanced 12 cents to $2.95 with the swapping of 926,883 shares, General Accident dropped 45 cents to end at $6.30 after exchanging 13,598 stocks. Honey Bun shed 20 cents to $9.25, with 54,384 stock units clearing the market, Lasco Distributors increased 5 cents to close at $3.16 in an exchange of 1,000 shares, Lasco Financial popped 10 cents to $3 with an exchange of 43,393 stocks. Lumber Depot lost 19 cents in closing at $3, with 1,969,970 units crossing the exchange, Mailpac Group gained 7 cents to close at $3.42 after exchanging 2,841,193 units and Stationery and Office Supplies climbed 34 cents to $6.04 in trading 200 stocks.
At the close, Blue Power declined 10 cents trading 56,723 shares at $3.10, CAC 2000 rose 31 cents to $7.81 after exchanging 150 stocks, Cargo Handlers shed 70 cents to end at $6.60, with 100 units changing hands. Caribbean Assurance Brokers increased 15 cents to $2.55 trading 18,156 stock units, Caribbean Cream dropped 13 cents in closing at $5.80 after an exchange of 20,879 stock units, Consolidated Bakeries rose 9 cents to $1.34 after 62,000 stocks crossed the market. Derrimon Trading lost 6 cents in closing at $2.22 while exchanging 283,608 shares, Dolphin Cove spiked $3.60 to a 52 weeks’ high of $17.20, resulting in 102,280 units changing hands, Fontana fell 7 cents to $7.03 in switching ownership of 209,749 shares. Fosrich rallied 35 cents to $8.95 with an exchange of 13,350 stock units, General Accident popped 45 cents in ending at $6.75 after trading 1,391 stocks, GWest Corporation inched 8 cents higher to 98 cents, with 1,000 units crossing the exchange. Honey Bun fell 5 cents to close at $9.45, with 23,690 stocks clearing the market, Knutsford Express popped 59 cents to end at $7.97 in an exchange of 313 units, Lasco Distributors shed 17 cents to $3.11 in an exchange of 5,721 shares. 
Lasco Financial lost 10 cents in closing at $2.90 after exchanging 145,312 stock units, Limners and Bards gained 6 cents to close at $3.69 with the swapping of 7,198 stock units, Lumber Depot dropped 5 cents to $3.19 in an exchange of 482,250 stocks. Mailpac Group dipped 8 cents to $3.35 after 134,816 units passed through the exchange, Medical Disposables popped 5 cents to $6.05 with 1,000 shares changing hands, Paramount Trading shed 6 cents in ending at $1.24 in trading 250 units and Stationery and Office Supplies dropped 10 cents to end at $5.70 in switching ownership of 35,155 stock units.
In the Main Market, other than Caribbean Producers, Sygnus and Pan Jam Investment fell 4 percent.
The Junior Market closed the week, with an average PE of 14.3 based on ICInsider.com’s 2021-22 earnings and is currently well below the target of 20 and the average of 17 at the end of March this year based on 2020 earnings. The TOP 10 stocks trade at a PE of a mere 8.1, with a 42 percent discount to that market’s average.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
Lumber Depot led trading with 89.2 percent of the total volume on Friday, after an exchange of 13.8 million shares and leading to the overall volume of stocks traded surging 434 percent with the value rising 338 percent higher than on Thursday at the close of the Jamaica Stock Exchange Junior Market.
Trading averaged 407,475 shares at $1,324,279 in contrast to 90,570 shares at $359,301 on Thursday and month to date, an average of 476,991 units at $1,465,352, against 483,371 units at $1,478,300 on Thursday. November closed with an average of 160,358 units at $581,730.
Honey Bun shed 50 cents to end at $9.50 in owners switching 27,511 shares, iCreate gained 10 cents to end at 92 cents in trading 2,097 stock units, Jetcon Corporation declined 11 cents to close at 91 cents with 3,200 units clearing the market. Knutsford Express climbed 38 cents to $7.38, with 50 stock units changing hands, Lasco Distributors rallied 18 cents to $3.28 in exchanging 16,614 units, Lumber Depot spiked 15 cents to $3.24 after an exchange of 13,810,756 stocks. Medical Disposables fell 69 cents to $6 with the swapping of 38,500 shares, Paramount Trading advanced 5 cents in closing at $1.30 after exchanging 19,943 units, SSL Venture climbed 16 cents to close at 96 cents, with 11,890 shares clearing the market and tTech gained 28 cents to close at $4.78 in trading 50 stock units.
A total of 33 securities traded against 34 on Tuesday, with 10 rising, 15 declining and eight ending unchanged. The Junior Market Index popped just 1.74 points to 3,379.82.
At the close, Access Financial climbed $1.50 to $21 after trading 133 shares, Blue Power rose 24 cents to end at $3.54 in switching ownership of 81 units, Caribbean Assurance Brokers slipped 8 cents to $2.32 with an exchange of 79,082 stock units. Caribbean Flavours rose 6 cents to $1.96 after trading 2,251 stocks, Consolidated Bakeries poped 12 cents to $1.35, with 31,000 shares changing hands, Dolphin Cove shed 10 cents to close at $13.65 while exchanging 30,943 units. Everything Fresh popped 12 cents in ending at 97 cents with the swapping of 4,825 stocks, Express Catering declined 25 cents to close at $5.45, 42,647 stock units crossing the exchange, Fosrich dropped 44 cents in closing at $8.51 after 5,558 units crossed the market. Honey Bun rallied 42 cents to $9.80 with 11,364 stock units clearing the market, Jetcon Corporation fell 15 cents to 80 cents after 33,517 stocks changed hands, Knutsford Express fell 33 cents to $7.64 in an exchange of 54 shares.
Lasco Distributors declined 33 cents to $3.10 after trading 17,450 units, Lasco Manufacturing shed 11 cents to close at $4.75, with 10,000 stocks crossing the market, Lumber Depot lost 36 cents to end at $3.11 after an exchange of 2,901,363 shares. Mailpac Group climbed 11 cents to $3.44 in an exchange of 118,122 stock units, Paramount Trading dropped 5 cents to $1.25 in trading 660 stock units and SSL Venture Capital declined 16 cents to close at 80 cents while exchanging 20,201 shares.
Market activity led to 34 securities trading down from 35 on Monday and ended with 14 rising, 14 declining and six, closing unchanged.
At the close, Blue Power lost 24 cents to $3.30 after exchanging 30,000 shares, Cargo Handlers shed $1.48 to close at $6.50 with the swapping of 4,723 units after the stock dropped to a 52 weeks’ intraday low of $5.60. Caribbean Assurance Brokers lost 30 cents ending at $2.40 with 141,350 stocks traded. Dolphin Cove spiked 25 cents in closing at $13.75 with 7,840 stock units changing hands, Elite Diagnostic rose 50 cents to end at $3 with 200 stocks crossing the market, Everything Fresh dipped 13 cents ending at 85 cents after exchanging 65,400 shares. Express Catering gained 10 cents to close at $5.70 in switching ownership of 60,772 stocks, Fontana lost 9 cents to end at $7.10 in transferring 37,066 shares, General Accident lost 5 cents in closing at $6.70 with 8,824 stocks changing hands. iCreate gained 10 cents to 85 cents in switching ownership of 567,347 shares, Iron Rock Insurance lost 7 cents to $3.58 with 10,556 stock units clearing the market, Jamaican Teas gained 10 cents in closing at $3.94 with the swapping of 222,408 units. 
Jetcon Corporation declined 6 cents to close at 95 cents after crossing the market with 181,616 stock units, Limners and Bards rose 20 cents to $3.75 in an exchange of 159,648 shares, Lumber Depot rallied 21 cents to end at $3.47 with 1,339,930 stocks crossing the exchange. Medical Disposables popped 14 cents to close at $6.69 in exchanging 21,016 units and Stationery and Office Supplies rose 20 cents in closing at $5.80 in trading 2,000 stock units.
