Access Financial

Two years’ high for Junior Market

November 10, 2021 by IC Insider.com

Trading pushed the Junior Market Index up 56.78 points on Wednesday to a near two years’ record high of 3,457.41, to be up 30.8 percent for the year to date, to sit just below the previous high of 3,462.91 reached back on December 6, 2019. The volume of stocks trading rose 60 percent, with the value rising 29 percent above trading on Tuesday on the Jamaica Stock Exchange Junior Market.

Future Energy new Beechwood Av station.

A total of 37 securities traded compared to 38 on Tuesday and ended with 18 rising, 13 declining and six closing unchanged.
The PE Ratio, a measure used in computing appropriate stock values, averages 13.7. The PE ratio of each stock shown in the chart below is based on earnings forecasted by ICInsider.com for companies with their financial year ending up to August 2022.
A total of 10,137,629 shares traded for $28,425,300 compared to 6,323,597 units at $22,068,391 on Tuesday. Future Energy Source led the market with 39.8 percent of total volume after trading 4.03 million shares, followed by Caribbean Assurance Brokers 18 percent with 1.82 million units and Lumber Depot 8.9 percent with 898,450 shares.
Trading averaged 273,990 shares at $768,251 up from 166,410 shares at $580,747 on Tuesday. Trading month to date, averages 135,053 units at $456,137, compared to 115,871 units at $413,046 on Tuesday. October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and seven with lower offers.
At the close, Access Financial dropped 25 cents and finished unchanged at $20.25 after exchanging 1,424 shares, Caribbean Assurance Brokers advanced 59 cents in ending at $2.29 trading 1,822,207 stocks, as investors responded positively to the release of results that shoed 31 cents per share for the nine months to September after reporting 41 cents for the September quarter. Caribbean Cream climbed 28 cents to $6 after exchanging 8,978s tock units. Dolphin Cove rose 9 cents to $10, with 29,850 units changing hands, Elite Diagnostic rallied 33 cents to end at $3.48 after 314,805 units crossed the market, Fontana increased 30 cents in closing at a 52 weeks’ high of $7.60 in an exchange of 115,216 stocks. General Accident popped 79 cents to end at $6.80 while exchanging 20,775 stock units, Honey Bun shed 35 cents in closing at $9.15 and trading 47,495 shares, Indies Pharma fell 15 cents to $3.05 in exchanging 288,370 stocks. Iron Rock Insurance spiked 71 cents to finish unchanged at $3.78, with one stock unit crossing the market, Jamaican Teas lost 25 cents to close at $4.25, with 163,617 units clearing the market, KLE Group declined 64 cents in ending at $2.50 after 11,500 shares changed hands. Knutsford Express shed 9 cents in closing at $8 closed after trading 11,870 units, Lasco Distributors gained 17 cents to $3.70 with the swapping of 13,538 stock units, Lasco Financial popped 14 cents and finished unchanged at $3.24 with an exchange of 154,500 stocks. Limners and Bards advanced 16 cents to close at $3.47 in trading 114,808 shares, Lumber Depot declined 15 cents to end at $2.82 in switching ownership of 898,450 stocks, Paramount Trading increased 11 cents in ending at $1.21 while exchanging 108,466 shares and Stationery and Office Supplies climbed 23 cents to close at $6.53 after trading 54,900 units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: Access Financial, AMG Packaging, Best performing stock market, Blue Power, Caribbean Assurance Brokers, Caribbean Cream, Caribbean Flavours, Consolidated Bakeries, Daily Trading, Derrimon Trading, Dolphin Cove, Elite Diagnostic, Emerging markets, Everything Fresh, Express Catering, FESCO, Fontana, FosRich, Future Energy Source, General Accident, GWest, Honey Bun, iCreate, Indies Pharma, Jamaica Stock Exchange, Jamaican stocks, Jamaican Teas, Jetcon Corporation, junior market, KLE Group, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Limners and Bards, Main Event, Medical Disposables, Paramount Trading, SSL Venture Capital, Stationery and Office, Trading Activity

Junior Market stocks stage major recovery

November 10, 2021 by IC Insider.com

Stocks made a significant recovery in trading on Tuesday. The Junior Market Index jumped 31.66 points to close at 3,400.63, rising stocks outpaced those that fell, with the volume and value of stocks traded doubling Monday trades at the close of the Jamaica Stock Exchange Junior Market.
Market activity led to 38 securities trading versus 39 on Monday and ended with 19 rising, 13 declining and six closing unchanged.
The PE Ratio, a measure used to compute appropriate stock values, averages 13.2. The PE ratio of each stock shown in the chart below is based on ICInsider.com’ s earnings forecast for companies whose financial year ends from 2021 up to August 2022.
Traders exchanged 6,323,597 shares for $22,068,391 versus 3,099,942 units at $11,381,686 on Monday. Lumber Depot led trading with 1.54 million shares for 24.3 percent of total volume, followed by Future Energy Source with 1.31 million units for 20.7 percent of the day’s trade and Jamaican Teas with 836,255 units for 13.2 percent market share.
Trading averaged 166,410 shares at $580,747 up from 79,486 shares at $291,838 on Monday and month to date, 115,871 units at $413,046 compared to 107,521 units at $385,339 on Monday. October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and two stocks with lower offers.
At the close, Access Financial popped 61 cents to close at $20.50 after trading 204 shares, Blue Power increased 24 cents to $3.30 in trading 1,000 units, CAC 2000 shed $2.28 to end at $7.02 while exchanging 14,000 stocks. Caribbean Assurance Brokers declined 8 cents to $1.70 with an exchange of 46,900 stock units, ahead of the release of the company’s third quarter earnings of 41 cents for the quarter and 31 cents for the nine months. Derrimon Trading rose 10 cents to $2.40, with 84,581 units crossing the exchange, Dolphin Cove fell 9 cents to close at $9.91 with 41,671 stocks clearing the market. Elite Diagnostic gained 13 cents to close at $3.15, with 21,284 stock units changing hands, Express Catering advanced 27 cents to $5.27 after trading 21,600 shares, Fontana popped 10 cents to $7.30 after an exchange of 264,511 stock units. Future Energy Source rose 7 cents to end at $2.88 in exchanging 1,310,536 shares, General Accident dropped 84 cents to $6.01 in switching ownership of 3,017 units, Honey Bun rallied 10 cents to $9.50 after trading 32,417 stocks. Jamaican Teas rose 25 cents to $4.50 with the swapping of 836,255 stocks, Jetcon Corporation rallied 11 cents in closing at $1.11 in an exchange of 70,737 shares, KLE Group popped 64 cents to close at a 52 weeks’ high of $3.14, after 4,725 units crossed the market. Knutsford Express popped 9 cents to close at $8.09, trading five stock units, Lasco Distributor slipped 17 cents to $3.53 trading 1,208 stock units, Lasco Manufacturing gained 25 cents to end at $4 75, after 698,413 stocks crossed the market. Limners and Bards dropped 24 cents in closing at $3.31 with the swapping of 229,331 units and Medical Disposables fell 20 cents to $5.30 in switching ownership of 700 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: Access Financial, AMG Packaging, Best performing stock market, Blue Power, CAC2000, Cargo Handlers, Caribbean Assurance Brokers, Caribbean Flavours, Consolidated Bakeries, Daily Trading, Derrimon Trading, Dolphin Cove, Elite Diagnostic, Emerging markets, Everything Fresh, Express Catering, FESCO, Fontana, FosRich, Future Energy Source, General Accident, GWest, Honey Bun, iCreate, Indies Pharma, Jamaica Stock Exchange, Jamaican stocks, Jamaican Teas, Jetcon Corporation, junior market, KLE Group, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Limners and Bards, Main Event, Medical Disposables, Paramount Trading, SSL Venture Capital, Stationery and Office, Trading Activity

Plunge in Junior Market Monday

November 8, 2021 by IC Insider.com

The Junior Market Index dropped sharply at the closed on Monday as investors drove the majority of stocks trading down, snapping 47.47 points off Friday’s closing index to end at 3,368.97, with the volume of stocks traded declining after 37 percent fewer shares traded, with 44 percent funds less entering the market than on Friday, but Investor’s Choice bid-offer indicator is flashing positive signals at the close.
Overall, 39 securities traded versus 37 on Friday and ended with 12 rising, 15 declining and 12, closing unchanged.
The PE Ratio, a measure used to compute appropriate stock values, averages 13.5. The PE ratio of each stock is shown in the chart below, is based on earnings forecasts by ICInsider.com or companies with their financial year ending up to August 2022.
A total of 3,099,942 shares changed hands for $11,381,686 compared to 4,884,822 units at $20,407,151 on Friday. Future Energy Source led trading with 565,193 shares that accounted for 18.2 percent of total volume, followed by Mailpac Group with 495,561 units and 16 percent of the day’s trade and Lumber Depot with 389,581 units for 12.6 percent market share.
Trading averaged 79,486 shares at $291,838 versusu 132,022 shares at $551,545 on Friday and month to date an average of 107,521 units at $385,339 down from compared to 113,246 units at $404,431 on Friday. October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Access Financial dropped 90 cents to $19.89 while exchanging 18,421 shares, AMG Packaging fell 13 cents to $1.60 after trading 6,890 units, Blue Power dropped 24 cents to $3.06 in switching ownership of 416 stocks. Derrimon Trading lost 14 cents in closing at $2.30 with an exchange of 99,250 stock units, Fosrich spiked 37 cents to $8.97 after 17,517 units changed hands, General Accident increased 75 cents to close at 52 weeks’ closing high of $6.85 after 41,544 stocks crossed the market. iCreate declined 9 cents to 86 cents in exchanging 43,000 shares, Indies Pharma rallied 22 cents to $3.24 in an exchange of 16,401 units, Iron Rock Insurance declined 73 cents to $3.07, with 500 units changing hands. Jamaican Teas fell 15 cents to end at $4.25, with 269,338 stock units crossing the exchange, Knutsford Express shed 9 cents to $8 after 611 stocks crossed the market, Lasco Distributors lost 15 cents at $3.70 after trading 1,604 shares. Mailpac Group dropped 9 cents to end at $3.74 after exchanging 495,561 stocks and Main Event advanced 40 cents to close at $4.40, with 2,107 shares clearing the market.
In the preference segment, CAC 2000 9.5% preference share rose 8 cents to $1 with the swapping of 1,500 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: Access Financial, AMG Packaging, Best performing stock market, Blue Power, CAC2000, Cargo Handlers, Caribbean Assurance Brokers, Caribbean Cream, Caribbean Flavours, Consolidated Bakeries, Daily Trading, Derrimon Trading, Dolphin Cove, Elite Diagnostic, Emerging markets, Everything Fresh, Express Catering, FESCO, Fontana, FosRich, Future Energy Source, General Accident, GWest, Honey Bun, iCreate, Indies Pharma, ISP Finance, Jamaica Stock Exchange, Jamaican stocks, Jamaican Teas, Jetcon Corporation, junior market, KLE Group, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Limners and Bards, Main Event, Medical Disposables, Paramount Trading, SSL Venture Capital, Stationery and Office, Trading Activity, tTech

ICTOP10 stocks make big gains

November 8, 2021 by IC Insider.com

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ICTOP10 stocks continue, with some sharp price movement during the past week, with VM Investments being the lead mover with a 16 percent rise, with a 12 percent increase for General Accident to $6.10, Medical Disposables rose 11 percent to $5.50 and Guardian Holdings popped 9 percent to $565.

VM Investment jumped 16% in the week

Berger Paints and Access Financial both gained 6 percent for the week. Access’ performance followed the release of half year results that showed good promise of a strong rebound in earnings for the current fiscal year. See ICInsider.com’s report on the results.
There are no additions to the ICTOP10 this week, but with several company results due this week, the markets could benefit from some.
The top three Main Market stocks are Berger Paints, Guardian Holdings and JMMB Group, with gains of 220 to 230 percent expected versus last weeks’ 216 to 254 percent.
The top three stocks in the Junior Market are Elite Diagnostic, followed by General Accident, with a drying up of offers up to $7.24 and Lasco Financial, with all three having the potential to gain between 203 and 297 percent, from 228 percent and 281 percent, previously.
This week’s focus: QWI investments, one of ICInsdier.com TOP15 stocks for 2021, now boast a Net Asset Value of $1.43 at the end of the past week, the highest value since it was listed in 2019, but the stock is selling at 92 cents on the Main Market at a huge 36 percent discount to NAV, even as the composition of the portfolio suggests further increase in value is likely before the end of 2021. The NAV is up 23 percent from $1.16 at the end of December last year, just below the Junior Market gains for the year to date and well ahead of the Composite index rise. The stock price has increased by 19.4 percent from 77 cents at the end of 2020 to Friday. It seems that investors don’t buy into the concept of buying stocks when blood is in the streets.
Most of the top 2021 stocks will not make the top 10 in 2022, but some will. The IC 80/20 rule, with a long 40 year history, shows an average of only two of the TO10 stocks in a year repeat in the following one, while 4 out of 10 of the worst performing stocks will end up as TOP10 winners in the succeeding year.
Investors’ focus should now be on 2022 for the local stocks and the current year’s values to determine the appropriate values of each stock for a hold or fold decision.
PE ratio is revaluing, with the Main Market moving from 15.6 last week to 16 this week and the Junior Market from 13.2 to 13.7. This trend will continue as results are released and encourage increased investments in stocks that are now undervalued.
The average gains projected for the TOP 10 Junior Market stocks moved from 202 percent last week to 191 percent and Main Market stocks moved from 169 percent to 159 percent.
The Junior Market closed the week with an average PE 13.7 based on ICInsider.com’s 2021-22 earnings and is currently well below the target of 20 and the historical average of 17 for the period to March this year, based on 2020 earnings. The TOP 10 stocks trade at a PE of a mere 7, with a 52 percent discount to that market’s PE.
The Junior Market can gain 52 percent to March next year, based on an average PE of 20 and 25 percent based on an average PE of 17. Seven stocks representing 15 percent of all Junior Market stocks with positive earnings are trading at or above this level, down from nine last week, indicating that many others will rise above the 17 mark in the weeks ahead.
The average PE for the JSE Main Market is 16, which is 19 percent less than the PE of 19 at the end of March and 25 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 7.8, representing a 50 percent discount to the market and well below the potential of 20. A total of 12 stocks or 25 percent of the market trade at or above a PE of 19, with most over 20, for an average PE of 24, suggesting that the accepted multiple maybe around 25 times the current year’s earnings.
ICTOP10 focuses on potential 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.

Filed Under: Buy Rated Tagged With: Access Financial, Berger Paints, Caribbean Assurance Brokers, Caribbean Producers, Daily Trading, Dolphin Cove, Emerging markets, General Accident, GraceKennedy, Jamaican Stock Exchange, Jamaican stocks, junior market, Lasco Financial, Lumber Depot, Medical Disposables, QWI Investments, Radio Jamaica, Stationery and Office Supplies, Stocks to Watch, Sygnus Credit Investments, TOP 10 stocks, Trading Activity, Victoria Mutual Investments

Junior Market ends week with gains

November 5, 2021 by IC Insider.com

More funds passed through the Jamaica Stock Exchange Junior Market on Friday, pushing the volume of stocks traded up 18 percent and the value rising 46 percent higher than on Thursday and led to market to record an increase over last week’s close and with gains going into the weekend.
A total of 37 securities traded down from 41 on Thursday and ended with 16 rising, 13 declining and eight closed unchanged.
The Junior Market Index climbed 27.68 points to 3,416.44. The PE Ratio, a measure used to compute appropriate stock values, averages 13.6. The PE ratio of each stock is shown in the chart below, is based on earnings forecasts done by ICInsider.com for companies with their financial year ending up to August 2022.
Overall, 4,884,822 shares traded for $20,407,151 up from 4,133,325 units at $14,013,135 on Thursday. Jamaican Teas led trading with 1.49 million shares for 30.4 percent of total volume, followed by Future Energy Source with 1.17 million units for 24 percent of the day’s trade and Mailpac Group with 384,475 units for 7.9 percent market share.
Trading averaged 132,022 shares at $551,545 in contrast to 100,813 shares at $341,784 on Thursday and month to date, an average of 113,246 units at $404,431, compared to 108,735 units at $369,086 on Thursday. Trading in October averaged 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Access Financial rose $1.09 to $20.79 in an exchange of 94,398 shares, Cargo Handlers climbed 34 cents to $7.84 after trading 21 stocks, Caribbean Cream fell 29 cents to close at $5.68 with 3,180 stock units changing hands. Derrimon Trading fell 8 cents to $2.44 while exchanging 70,522 units, Elite Diagnostic dropped 23 cents to end at $3.02 after clearing the market with 88,778 stock units, Everything Fresh shed 7 cents to 91 cents with the swapping of 34,100 shares. Fosrich popped 10 cents to close at $8.60 with an exchange of 54,742 stocks, General Accident spiked 65 cents to $6.10, with 136,082 units changing hands, Honey Bun lost 15 cents to end at $9.35 after exchanging 95,727 units. Indies Pharma dropped 18 cents in closing at $3.02 in trading 125,039 stock units, ISP Finance fell $2.23 to $45 after trading 80 stocks, Jamaican Teas declined 10 cents to close at $4.40, with 1,485,356 shares crossing the exchange. Knutsford Express rose 9 cents in closing at $8.09, trading 6,374 stock units, Lasco Distributors advanced 33 cents to end at $3.85, with 58,015 units crossing the market Lasco Manufacturing lost 30 cents, closing at $4.50 after trading 250,158 shares. Main Event shed 40 cents to close at $4 in switching ownership of 354,112 stocks, Paramount Trading popped 9 cents in closing at $1.14, with 470 shares crossing the market and Stationery and Office Supplies rallied 39 cents to end at $6.30 with an exchange of 200 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: Access Financial, AMG Packaging, Best performing stock market, Blue Power, CAC2000, Cargo Handlers, Caribbean Assurance Brokers, Caribbean Cream, Consolidated Bakeries, Daily Trading, Derrimon Trading, Elite Diagnostic, Emerging markets, Everything Fresh, Express Catering, FESCO, Fontana, FosRich, Future Energy Source, General Accident, GWest, Honey Bun, iCreate, Indies Pharma, ISP Finance, Jamaica Stock Exchange, Jamaican stocks, Jamaican Teas, Jetcon Corporation, junior market, KLE Group, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Limners and Bards, Main Event, Medical Disposables, Paramount Trading, SSL Venture Capital, Stationery and Office, Trading Activity

Junior Market slips on Thursday

November 4, 2021 by IC Insider.com

Shortly after the opening of trading on Thursday, Junior Market Index raced to 3,438 points but failed to hold on to those early gains and ended lower at the close of Wednesday, with the index dropping 18.39 points below Wednesday’s close, to finish at 3,388.76 as the value of stocks trading declined 13 percent below Wednesday at the close of the Jamaica Stock Exchange Junior Market.
Market activity led to 41 securities trading, up from 37 on Wednesday and ended with 16 rising, 18 declining and seven left unchanged. Fontana and KLE Group ended trading at 52 weeks’ highs.
The PE Ratio, a measure used to compute appropriate stock values, averages 13.7. The PE ratio of each stock is shown in the chart below, is based on the earnings forecast done by ICInsider.com for companies with their financial year ending up to August 2022.
Trading ended with 4,133,325 shares changing hands for $14,013,135 down from 4,626,302 units at $16,070,563 on Wednesday. Future Energy Source ended with 30.5 percent of total volume as it led trading with 1.26 million shares, followed by Mailpac Group ended, with 20.6 percent after 852,447 units were traded and Lumber Depot 12.7 percent with 524,419 shares.
Trading averaged 100,813 shares at $341,784, down from 125,035 shares at $434,340 on Wednesday and month to date, an average of 108,735 units at $369,086, compared to 111,609 units at $378,991 on Wednesday. October average trade was 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and two with lower offers.
At the close, Access Financial climbed $1.70 to $19.70 with the swapping of 15,164 shares, Blue Power spiked 16 cents to $3.27, trading 1,000 stock units, CAC 2000 rose 85 cents to end at $9.25 with an exchange of 100 stocks. Cargo Handlers shed 34 cents to close at $7.50 after exchanging 2,000 units, Caribbean Cream gained 31 cents in ending at $5.97 in swapping 3,758 stock units, Consolidated Bakeries popped 11 cents to $1.66 after 4,000 stocks changed hands. Elite Diagnostic advanced 20 cents to $3.25, trading 121 units, Express Catering increased 20 cents to $5 24,844 shares after crossing the exchange, Fontana rallied 21 cents to end at 52 weeks’ closing high of $7.20, as 291,769 stocks crossed the market. Fosrich declined 10 cents to close at $8.50, with 11,897 stock units changing hands, Future Energy Source increased 9 cents to $2.79, with 1,261,084 shares clearing the market, Honey Bun advanced 49 cents to close at $9.50 in switching ownership of 95,524 units. Indies Pharma dropped 9 cents to end at $3.20, with 26,000 stock units crossing the market, ISP Finance fell 74 cents after finishing at $47.23 in trading 642 shares, KLE Group spiked 51 cents in closing at 52 weeks’ high of $2.51 in an exchange of 14,277 stocks. Lasco Distributors lost 8 cents to close at $3.52 while exchanging 24,956 units, Medical Disposables rose 40 cents to $5.50 in an exchange of 19,400 stocks, SSL Venture fell 8 cents in closing at 66 cents as 39,200 shares changed hands and tTech shed 90 cents to end at $3.88 in trading 7,859 units.
In the preference segment, CAC 2000 9.5% preference shares dropped 8 cents to 92 cents trading 54,325 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: Access Financial, AMG Packaging, Best performing stock market, Blue Power, CAC2000, Cargo Handlers, Caribbean Assurance Brokers, Caribbean Cream, Caribbean Flavours, Consolidated Bakeries, Daily Trading, Derrimon Trading, Dolphin Cove, Elite Diagnostic, Emerging markets, Everything Fresh, Express Catering, FESCO, Fontana, FosRich, Future Energy Source, General Accident, GWest, Honey Bun, iCreate, Indies Pharma, ISP Finance, Jamaica Stock Exchange, Jamaican stocks, Jamaican Teas, Jetcon Corporation, junior market, KLE Group, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Limners and Bards, Main Event, Medical Disposables, Paramount Trading, SSL Venture Capital, Stationery and Office, Trading Activity, tTech

A rebounding Access is IC buy rated

November 4, 2021 by IC Insider.com

Profit surged 216 percent after tax, to $90 million for the micro lender, Access Financial Services in the second quarter to September this year, from $29 million in 2020, with pretax profit spiking 287 percent from $33 million to $129 million, as the company’s turnaround continues to gather pace from the depressed 2020 pandemic effects.
For the six months to September, profit after tax jumped 192 percent to $180 million from just $62 million for the similar period in 2020, while profit before tax jumped 192 percent to $241 million from $82 million.
Net operating income rose 9.4 percent from $887.5 million to $971 million for the six months and $457 million to $507 million for the September quarter.
The most important contributor to income, loan interest, rose 13.5 percent for the quarter to $419 million from $369 million in 2020 and rose 8.7 percent from $743 million to $807 million for the 2021 half year.
Operating expenses for the period fell 9 percent to $730 million, from $805 million in the prior year and from $424 million in the September quarter this year to $$378 million. The reduction partially helped from loan loss provision declining from $111 million in September 2020 quarter to $60 million this year and decreased 32 percent for the six months to $121 million from $178 million. In addition, loans written off fell to $58 million for the half year from $69 million in 2020 and at the end of June, loans written off was just $10 million compared to $39 million in 2020 for the similar period.
Earnings per share for the six months was 65 cents compared to 22 cents for the prior year and 33 cents for the quarter.

Access Financial Services head office.

ICInsider.com projects earnings per share of $2.40 for the current year and $4.80 for 2023, assuming that lending continues to grow in double digits per annum. The projection in earnings is one reason for the IC Buy RatedICTOP10 Dolphin Cove jumps 25% label others are good management, the provision of service in demand and good medium term growth prospects.
Loans rose from $3.89 billion to $4.38 billion year over year and are up 6 percent in the September quarter over June this year, representing a nearly 25 percent annual increase. Cash funds slipped from $683 million at the end of September 2020 to $397 million. Loans payable amounts to $2.54 billion from $2.7 billion at the end of September 2020. Stockholders’ Equity stands at $2.56 billion. Access will be paying a dividend of 10 cents per share on November 26, 2021, adding to a similar amount paid in August, 20 cents in July and 10 cents in February.

Filed Under: Buy Rated, Company News, Company Results Tagged With: Access Financial, Emerging markets, Jamaica Stock Exchange, junior market

Junior Market rises

November 3, 2021 by IC Insider.com

Junior Market risesThe Junior Market of the Jamaica Stock Exchange closed higher on Wednesday, with the volume of stocks traded rising 76 percent more, with the value doubling stocks trading on Tuesday, as the market continues to consolidate ahead of third quarter results.
Overall, 37 securities traded, up from 35 on Tuesday and ended with 16 rising, 13 declining and eight closing unchanged.
At the close, the Junior Market Index rallied 16.47 points to settle at 3,407.15.
The PE Ratio, a measure used to compute appropriate stock values, averages 13.6. The PE ratio of each stock shown in the chart below, is based on earnings forecast done by ICInsider.com for companies with their financial year ending up to August 2022.
A total of 4,626,302 shares changed hands for $16,070,563 compared t0 2,624,356 units at $8,025,937 on Tuesday. Future Energy Source led trading with 44.8 percent of total volume after trading 2.07 million shares, followed by Jamaican Teas 25.8 percent with 1.19 million units and Lumber Depot with 6.4 percent after 297,740 shares were traded.
Trading averaged 125,035 shares at $434,340 in contrast to 74,982 shares at $229,312 on Tuesday and month to date, averages 111,609 units at $378,991, compared to 105,072 units at $352,046 on Tuesday. October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Access Financial lost $1.55 in closing at $18, after trading 9,534 shares, Cargo Handlers climbed 69 cents to $7.84 in switching ownership of one stock unit, Consolidated Bakeries fell 11 cents, to $1.55 after an exchange of 10,147 units. Dolphin Cove dropped 25 cents to $10 while exchanging 9,830 stocks, Elite Diagnostic dipped 5 cents to end at $3.05 in trading 148,454 units, Express Catering shed 5 cents in closing at $4.80 after trading 25,709 stocks. Fontana rose 5 cents to $6.99 in exchanging 162,937 shares, Fosrich inched 17 cents up to end at $8.60, with 37,041 stock units crossing the exchange, Honey Bun dropped 49 cents to close at $9.01, clearing the market with 9,677 stocks. Indies Pharma gained 19 cents to $3.29 with an exchange of 64,299 shares, Jamaican Teas rose 6 cents in closing at $4.50, with 1,194,086 units changing hands, Jetcon Corporation popped 11 cents to $1.10, in trading 7,397 stock units. KLE Group shed 20 cents to close at $2 after exchanging 33,223 stocks, Knutsford Express fell 5 cents, to $8, with 3,000 shares crossing the market, Lasco Manufacturing rallied 5 cents to end at $4.85, in trading 32,764 stock units. Limners and Bards declined 5 cents to $3.55 with the swapping of 19,496 units, Main Event advanced 54 cents to close at $4.44, with 400 stock units clearing the market, Medical Disposables rallied 5 cents to end at $5.10 with an exchange of 1,200 units. Paramount Trading rose 6 cents to $1.10, with 3,000 stocks crossing the exchange, SSL Venture popped 5 cents to 74 cents in switching ownership of 1,922 shares and Tropical Battery lost 5 cents to end at $1.29 in trading 4,143 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: Access Financial, AMG Packaging, Best performing stock market, CAC2000, Cargo Handlers, Caribbean Assurance Brokers, Caribbean Flavours, Consolidated Bakeries, Daily Trading, Derrimon Trading, Dolphin Cove, Elite Diagnostic, Emerging markets, Everything Fresh, Express Catering, FESCO, Fontana, FosRich, Future Energy Source, General Accident, GWest, Honey Bun, iCreate, Indies Pharma, Jamaica Stock Exchange, Jamaican stocks, Jamaican Teas, Jetcon Corporation, junior market, KLE Group, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Limners and Bards, Main Event, Medical Disposables, Paramount Trading, SSL Venture Capital, Stationery and Office, Trading Activity, tTech

Modest setback for Juniors on Tuesday

November 2, 2021 by IC Insider.com

The volume of stocks traded fell 51 percent less, with the value falling by 57 percent from trading on Monday on the Junior Market of the Jamaica Stock Exchange, but it led to rising stock beating out declining ones by a wide margin at the close on Tuesday.
A total of 35 securities trading down from 41 on Monday and ended with 19 rising, 11 declining and five closing unchanged.
The Junior Market Index slipped 4.40 points to 3,390.68. The PE Ratio, a measure used to compute appropriate stock values, averages 13.4. The PE ratio of each stock is shown in the chart below, is based on earnings forecasted by ICInsider.com for companies with the financial year ending up to August 2022.
Trading ended with 2,624,356 shares changing hands for $8,025,937 compared to 5,361,145 units at $18,729,533 on Monday. Future Energy Source led trading with 1.0 million shares for 38.3 percent of total volume, followed by Jetcon Corporation with 196,746 units for 7.5 percent of the day’s trade and Lasco Manufacturing with 176,276 units for 6.7 percent market share.
Trading averaged 74,982 shares at $229,312 versus 130,760 shares at $456,818 on Monday and for the month to date an average of 105,072 units at $352,046. October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Access Financial rose $2.54 to $19.55 after exchanging 1,126 shares, Blue Power declined 16 cents to close at $3.11 in switching ownership of 4,500 stock units, Express Catering dropped 25 cents to $4.85 after 7,200 stocks crossed the market. Fontana popped 24 cents to end at $6.94 after 45,388 units changed hands, General Accident rallied 10 cents to $5.45 in trading 38,736 stocks, GWest Corporation climbed 22 cents to end at 92 cents while exchanging 38,708 stock units. Honey Bun advanced 25 cents to $9.50, with 21,498 units changing hands, iCreate dropped 9 cents to end at 86 cents, with 59,004 stock units crossing the market, KLE Group rose 35 cents to close at a 52 weeks’ high of $2.20 with the swapping of 81,775 shares, Lasco Distributors popped 6 cents in closing at $3.56 with an exchange of 8,480 units. Lasco Financial rose 6 cents to $3.15 while exchanging 4,003 stock units, Lasco Manufacturing increased 47 cents to $4.80, with 176,276 stocks clearing the market, Limners and Bards popped 6 cents in closing at $3.60 in exchanging 77,116 units, Mailpac Group increased 7 cents to close at $3.82, with 53,232 stocks crossing the market, Main Event fell 50 cents to $3.90 trading 4,240 shares, Paramount Trading declined 6 cents to close at $1.04 in an exchange of 4,988 stock units and Stationery and Office Supplies popped 29 cents to end at $5.90 in an exchange of 124 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: Access Financial, AMG Packaging, Best performing stock market, Blue Power, CAC2000, Caribbean Assurance Brokers, Caribbean Flavours, Consolidated Bakeries, Daily Trading, Derrimon Trading, Dolphin Cove, Elite Diagnostic, Emerging markets, Everything Fresh, Express Catering, FESCO, Fontana, FosRich, Future Energy Source, General Accident, GWest, Honey Bun, iCreate, Indies Pharma, Jamaica Stock Exchange, Jamaican stocks, Jamaican Teas, Jetcon Corporation, junior market, KLE Group, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Limners and Bards, Main Event, Medical Disposables, Paramount Trading, SSL Venture Capital, Stationery and Office, Trading Activity

Early gains given up by Junior Market stocks

November 1, 2021 by IC Insider.com

Trading closed, with the volume of stocks traded leapt 21 percent higher with the value rising 26 percent over Friday’s trading as all but one security traded at the close of the Jamaica Stock Exchange Junior Market on Monday.
Overall, 41 securities traded up from 35 on Friday and ended with 17 rising, 17 declining and seven, closing unchanged.
At the close, the Junior Market Index dropped 9.32 points to settle at 3,395.08 after the market opened at 3,451.61. The PE Ratio, a measure used to compute appropriate stock values, averages 13.8. The PE ratio of each stock is shown in the chart below, is based on earnings forecasted by ICInsider.com for companies with their financial year ending up to August 2022.
A total of 5,361,145 shares traded for $18,729,533 up from 4,415,967 units at $14,859,809 on Friday. Friday Future Energy Source led trading with 2.16 million shares for 40.2 percent of total volume, followed by Lumber Depot with 608,209 units for 11.3 percent of the day’s trade and Indies Pharma, with 532,649 units accounting for 9.9 percent market share.
Trading averaged 130,760 shares at $456,818 in contrast to 126,170 shares at $424,566 on Friday. Trading in October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Access Financial slumped $2.69 to $17.01 with an exchange of 6,509 shares, CAC 2000 gained 10 cents in closing at $8.40 after exchanging 820 units, Cargo Handlers increased 15 cents to $7.15 after trading 7,000 stocks. Caribbean Cream shed 31 cents to end at $5.66 in switching ownership of 28,319 stock units, Express Catering rose 10 cents to $5.10, with 2,000 shares clearing the market, Fontana lost 10 cents to close at $6.70 with the swapping of 127,054 stock units. GWest Corporation dropped 15 cents in closing at 70 cents, with 112,049 units crossing the market, Honey Bun fell 25 cents to $9.25, with 210,000 stocks changing hands, Indies Pharma declined 35 cents to $3.05 in an exchange of 532,649 shares. KLE Group spiked 39 cents to end at a 52 weeks’ high of $1.85, with 26,937 units changing hands, Lasco Distributors dropped 35 cents to $3.50 in trading 41,052 stock units, after the company reported flat six months results but suggesting the stock is undervalued. Lasco Manufacturing shed 45 cents ending at $4.33, with 39,664 stocks crossing the market after the company released good half year results with a strong indication that the stock is undervalued. Main Event spiked 40 cents in closing at $4.40 after trading 2,012 stocks, Medical Disposables popped 11 cents to $5.06 after exchanging 4,428 shares, Stationery and Office Supplies fell 89 cents to $5.61 in exchanging 5,825 units and tTech rallied 14 cents to $4.79 while trading 10,000 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.