Trading closed on the Junior Market of the Jamaica Stock Exchange Monday, with a 52 percent rise in the volume of stocks traded, with 82 percent more value than Friday, with trading in 45 securities compared with 44 on Friday and ending with prices of 14 rising, 20 declining and 11 closing unchanged as Honey Bun closed at a new 52 weeks’ high and EduFocal traded at an intraday 52 weeks’ low of 90 cents.
The market closed trading of 4,798,812 shares for $10,594,590 compared with 3,153,277 units at $5,829,829 on Friday.
Trading averaged 106,640 shares at $235,435, compared with 71,665 units at $132,496 on Friday with the month to date, averaging 264,995 units at $607,255 compared to 283,220 stock units at $650,048 on the previous day and March with an average of 221,659 units at $464,382.
Spur Tree Spices led trading with 1.47 million shares for 30.6 percent of total volume followed by EduFocal with 536,957 units for 11.2 percent of the day’s trade and Stationery and Office Supplies with 517,761 units for 10.8 percent market share.
At the close of trading, the Junior Market Index declined 20.07 points to lock up trading at 3,783.95, with indications that it could fall further on Tuesday.
The Junior Market ended trading with an average PE Ratio of 12.8, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2025.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and seven with lower offers.
At the close, Access Financial increased $1.12 and ended at $21.13 with investors trading just one share, AMG Packaging climbed 17 cents to $3.37, with 126,389 units crossing the exchange, following the release of b six months results with profit up 79 percent, Caribbean Assurance Brokers dipped 12 cents to end at $2.20, in switching ownership of 9,954 shares. Caribbean Flavours popped 12 cents in closing at $1.70 with an exchange of 7 stock units, EduFocal rallied 7 cents to finish at $1 with traders dealing in 536,957 shares, but only after hitting an intraday 52 weeks’ low of 90 cents, Express Catering fell 55 cents to close at $3.90 after a transfer of 29,969 units, following release of increased earnings for the nine months. But with a slightly lower profit in the third quarter, Fontana shed 10 cents to $8.90 as investors exchanged 18,527 stocks, Honey Bun rose 48 cents to finish at a new 52 weeks’ high of $8.40 after 65,847 stock units passed through the market, Iron Rock Insurance gained 22 cents and ended at $2.42, with 3 shares changing hands. 
ISP Finance dropped 49 cents to close at $30.51 with investors swapping 4 stocks, Jamaican Teas advanced 24 cents to end at $2.67 with a transfer of 16,616 units, Jetcon Corporation lost 7 cents in closing at 88 cents, with 54 stock units crossing the market. KLE Group skidded 50 cents to $1.90 with investors transferring 10 shares, Limners and Bards sank 26 cents to close at $1.45 with 44,863 units clearing the market, Mailpac Group declined 19 cents in closing at $1.90 after trading 327,193 stocks. Main Event slipped 40 cents and ended at $13.60, with 8,274 stock units crossing the market, MFS Capital Partners sank 7 cents to finish at $1.80 with an exchange of 38,315 shares and tTech rose 7 cents to end at $2.27 in trading 2 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Scotia & Express Catering depart ICTOP10
In a week of the market ups and downs with Scotia Group and Express Catering dropping out of the ICTOP10 listing. Price movements in the TOP10 have been notable, with Express Catering at long last making a move higher in adding 10 percent, to close at $4.45, but the potential of the stock is held back by the company’s poor corporate governance practices highlighted by the fact that loan funding is used to on-lend to related group companies, with no benefit to the company’s to the company, with the company giving up more than US$1 million per year.
In a review of the ICTOP10, the earnings for the current year were confirmed at 45 cents for AMG Packaging, following the release of six months’ results on Friday, showing profit up 78 percent for the latest quarter and the half year while tTech earnings were projected for the current year at 30 cents per share pushing the stock in the TOP10.
In market activity during the week, Caribbean Cream climbed 9 percent to $3.90, but Iron Rock Insurance fell 12 percent to $2.20 followed by Edufocal, down 10 percent to an all time low of 93 cents while Consolidated Bakeries slipped 8 percent to $2.01. In the Main Market, Key Insurance rose 12 percent to $2.48 and 138 Student Living rose 6 percent to $4.18 while Margaritaville dropped 12 percent to $14.10.
tTech is a new addition to the Junior Market ICTOP10 with the increase in projected earnings for 2024, replacing Express Catering and in Main Market TOP10, Jamaica Broilers returns, edging out the undervalued Scotia Group. Jamaica Broilers another severely undervalued stock with good long term growth prospects returns to the TOP10.
It is worth noting that Honey Bun that was last in the TOP10 in the week ending March 8 and hit a 52 weeks’ high of $7.92 this week to be up 18 percent since it was added to the listing in mid-February at $6.69. The price should continue to increase throughout 2024.
The average PE for the JSE Main Market ICTOP 10 stands at 5.5, well below the market average of 13.2 and the Junior Market TOP10 sits at 7.4 over half of the market, with an average of 12.6.
The Main Market ICTOP10 is projected to gain an average of 273 percent by May 2025, based on 2024 forecasted earnings, providing better values than the Junior Market with the potential to gain 191 percent over the same period.
In the Main Market ICTOP 10, a total of 16 of the most highly valued stocks representing 31 percent of the Main Market are priced at a PE of 15 to 107, with an average of 32 and 23 excluding the highest PE ratios, and a PE of 25 for the top half and 19 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 9 stocks, or 20 percent of the market, with PEs ranging from 15 to 44, averaging 22, well above the market’s average. The top half of the market has an average PE of 17, possibly the lowest fair value for stocks, currently.
Of great import is that the averages of both markets are now converging around a PE of 20 for close to a third of the market, as the year is coming to a close and with more information available on the full year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. 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.
ICTOP10 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 and result 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.
Junior Market bounce
Stocks posted gains as trading closed sharply lower on the Junior Market of the Jamaica Stock Exchange Friday, following heavy trading in Spur Tree spices on Thursday and ended on Friday with a 95 percent drop in the volume of stocks traded, worth 96 percent less than Thursday’s trades, with trading in 44 securities compared with 45 on Thursday and ending with prices of 17 rising, 14 falling and 13 closing firm.
At the close of trading, the Junior Market Index climbed 28.47 points to wrap-up trading at 3,804.02.
The market closed with trading of only 3,153,277 shares for just $5,829,829 well down from 67,112,668 units at $155,529,698 on Thursday.
Trading averaged 71,665 shares at $132,496, compared with 1,491,393 units at $3,456,216 on Thursday with a month to date average 283,220 units at $650,048 compared to 310,046 stock units at $715,674 on the previous day and March with an average of 221,659 units at $464,382.
Caribbean Assurance Brokers led trading with 864,573 shares for 27.4 percent of total volume followed by EduFocal with 851,715 units for 27 percent of the day’s trade and MFS Capital Partners with 497,347 units for 15.8 percent market share.
The Junior Market ended trading with an average PE Ratio of 12.6, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2025.
Investor’s Choice bid-offer indicator shows no stock ending with a bid higher than the last selling price and two with lower offers.
At the close of the market, Access Financial declined $1.18 in closing at $20.01 in switching ownership of 1,009 stock units, AMG Packaging slipped 10 cents to $3.20 as investors exchanged 33,381 shares, Cargo Handlers popped $1.08 to end at $13.88, with 152 stocks being traded. Caribbean Assurance Brokers rallied 11 cents and ended at $2.32 with traders dealing in 864,573 units, Caribbean Flavours dipped 12 cents to close at $1.58 in an exchange of 1,002 shares, Consolidated Bakeries fell 18 cents to finish at $2.01 after trading 1,221 stock units. EduFocal slipped 9 cents and ended at a 52 weeks’ low of 93 cents with 851,715 units clearing the market, Everything Fresh increased 17 cents to $1.74 with investors transferring 26,955 stocks, Future Energy climbed 7 cents in closing at $3.49 after exchanging 42,409 shares. 
Honey Bun rose 5 cents and ended at a 52 weeks’ closing high of $7.92 after 21,824 shares were traded, Iron Rock Insurance lost 32 cents to finish at $2.20, with 1,770 units crossing the market, ISP Finance rose $4.65 to end at $31 after a transfer of a mere 3 stock units, Jetcon Corporation advanced 7 cents to close at 95 cents, with 6,731 stock units changing hands. Knutsford Express gained 30 cents to $11.50 in an exchange of 38 shares, Lumber Depot shed 12 cents to end at $2.55, after 14,656 stocks passed through the market and MFS Capital Partners popped 11 cents in closing at $1.87 after an exchange of 497,347 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big Junior Market trade led to sold gains
Trading surged on the Junior Market of the Jamaica Stock Exchange on Thursday, after investors traded 60 million shares in Spur Trees Spices with a value of $135 million and driving the volume of stocks traded up a solid 3,095 percent, 
following a 2,785 percent jump in value over Wednesday after trading in 45 securities similar to Wednesday and ending with prices of 21 rising, 14 declining and 10 closing unchanged.
The market closed with trading of 67,112,668 shares for $155,529,698 compared with 2,100,844 units at $5,391,292 on Wednesday.
Trading averaged 1,491,393 shares at $3,456,216, compared with 46,685 units at $119,806 on Wednesday with the month to date, averaging 310,046 units at $715,674 compared to 134,017 stock units at $307,315 on the previous day and March with an average of 221,659 units at $464,382.
Spur Tree Spices led trading with 60.03 million shares for 89.4 percent of total volume followed by Future 
Energy with 4.04 million units for 6 percent of the day’s trade and One Great Studio with 832,703 units for 1.2 percent market share.
At the close of trading, the Junior Market Index climbed 41.06 points to end trading at 3,775.55.
The Junior Market ended trading with an average PE Ratio of 12.5, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2025.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, Access Financial rose $1.34 to close at $21.19 after an exchange of just one share, AMG Packaging declined 10 cents to $3.30 after exchanging 111 units, Cargo Handlers shed $1.10 and ended at $12.80 in switching ownership of 152 shares. 
Caribbean Flavours rallied 12 cents to end at $1.70 with 85,913 stock units crossing the market, Dolla Financial popped 10 cents in closing at $2.79 with an exchange of 508,972 shares, Express Catering gained 53 cents to finish at $4.47 after investors ended trading 111,110 stock units. Fontana increased 31 cents and ended at $9 with the transferring of 125,869 stocks, GWest Corporation sank 9 cents to 90 cents in an exchange of 71,581 units, Honey Bun climbed 58 cents to close at a 52 weeks’ high of $7.87 with investors dealing in 41,013 stocks. ISP Finance slipped 36 cents to finish at $26.35, with 16 units crossing the exchange, Limners and Bards advanced 21 cents in closing at $1.71 in trading a mere 4 shares, Mailpac Group rose 10 cents to end at $2.10, with 16,443 stock units changing hands. MFS Capital Partners gained 21 cents to close at $1.76 with investors trading 717,173 shares and Paramount Trading popped 20 cents to finish at $1.46 in an exchange of 75,645 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market falters on Wednesday
The Junior Market Index fell 25.49 points to close at 3,734.49 after it traded in positive territory in the morning session with the market opening at 3,810.31 points. Trading ended, with a 43 percent 
decline in the volume of stocks traded, with a 38 percent drop in value compared to Tuesday following trading in 45 securities compared with 44 on Tuesday and ending with prices of 14 rising, 18 declining and 13 closing unchanged.
The market closed trading of 2,100,844 shares for $5,391,292 down from 3,694,150 units at $8,717,041 on Tuesday.
Trading averaged 46,685 shares at $119,806, compared with 83,958 units at $198,115 on Tuesday with the month to date, averaging 134,017 units at $307,315 compared to 149,309 stock units at $340,147 on the previous day and March with an average of 221,659 units at $464,382.
On a day of mediocre trading, Stationery and Office Supplies led with just 251,673 shares for 12 percent of total volume followed by Fosrich with 228,475 units for 10.9 percent of the day’s trade and Dolla Financial with 224,947 stock units for 10.7 percent market share.
The Junior Market ended trading with an average PE Ratio of 12.5, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2025.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Caribbean Assurance Brokers declined 15 cents to $2.20 as investors exchanged 4,237 shares, Everything Fresh shed 20 cents to end at $1.54 in switching ownership of 52,476 stocks, GWest Corporation advanced 9 cents in closing at 99 cents with an exchange of 25 shares. 
Honey Bun popped 21 cents to finish at $7.29 in an exchange of 27,774 stock units, ISP Finance dropped $4.29 and ended at $26.71 with investors dealing in just 288 shares, Jamaican Teas sank 10 cents to close at $2.44 in an exchange of 22,768 stocks. Knutsford Express skidded 68 cents to $11.20 with traders dealing in 3,237 units, Mailpac Group lost 10 cents in closing at $2, 101,306 stock units crossing the market, Main Event increased 43 cents and ended at $14 in trading 19,931 shares and Paramount Trading dipped 20 cents to close at $1.26 after 46,980 units passed through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market recovers some recent losses
Rising stocks outnumbered falling ones at the close of trading on the Junior Market of the Jamaica Stock Exchange on Tuesday, with activity in 44 securities compared to 45 on Monday and ending with prices of 18 rising, 13 declining and 13 closed unchanged following a with 60 percent decline in the volume of stocks traded, with 63 percent lower value than on Monday
Trading ended with an exchange of 3,694,150 shares for $8,717,041 down from 9,154,038 units at $23,562,473 on Monday.
Trading averaged 83,958 shares at $198,115, compared with 203,423 units at $523,611 on Monday with the month to date, averaging 149,309 units at $340,147 compared to 162,808 stock units at $369,487 on the previous day and March with an average of 221,659 units at $464,382.
Spur Tree Spices led trading with 887,601 shares for 24 percent of total volume followed by Dolla Financial with 450,473 units for 12.2 percent of the day’s trade and Derrimon Trading with 311,439 units for 8.4 percent market share.
At the close of trading, the Junior Market Index rallied 14.99 points to close at 3,759.98.
The Junior Market ended trading with an average PE Ratio of 12.7, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2025.
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 dropped $2.06 and ended at $19.80 crossing the exchange 50,337 shares, Cargo Handlers increased $1.40 to $13.90 with traders dealing in 23 units, Caribbean Cream popped 32 cents to end at $3.90 in an exchange of 139 shares. 
Caribbean Flavours fell 14 cents in closing at $1.56 with 32,003 stock units crossing the market, Dolphin Cove gained 29 cents to close at $19.70 with an exchange of 3,178 shares, Express Catering rose 24 cents to finish at $3.94 after 12,001 units passed through the market. Fontana skidded 33 cents to $8.66 as investors exchanged 71,814 stocks, Future Energy climbed 8 cents to end at $3.48 with a transfer of 92,469 stock units, Honey Bun advanced 8 cents in closing at $7.08 after an exchange of 17,379 shares. JFP Ltd rallied 7 cents and ended at $1.28 with investors transferring 63,260 stock units, Main Event sank 23 cents to close at $13.57, with 4,176 stocks changing hands and tTech increased 21 cents to finish at $2.22 with investors trading 9,035 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Third day of decline for Junior Market
Trading closed on the Junior Market of the Jamaica Stock Exchange Monday, with a 145 percent jump in the volume of stocks traded, valued 233 percent more than Friday with trading in 45 
securities compared with 40 on Friday and ending with prices of 19 rising, 18 declining and eight stocks closing unchanged and Medical Disposables ended at a 52 weeks’ low of $2.28 with the market Index falling for a third consecutive day.
The market closed with trading of 9,154,038 shares for $23,562,473 up from 3,732,698 units at $7,075,691 on Friday.
Trading averaged 203,423 shares at $523,611 compared with 93,317 units at $176,892 on Friday. Trading for the month to date, averaged 162,808 units at $369,487 compared to 151,929 stock units at $328,204 on the previous trading day and March with an average of 221,659 units at $464,382.
Express Catering led trading with 3.61 million shares for 39.5 percent of total volume followed by ONE on ONE Educational with 1.63 million units for 17.8 percent of the day’s trade and Fosrich with 1.02 million units for 11.2 percent of the day’s trade.
At the close of trading, the Junior Market Index fell 21.57 points to close at 3,744.99.
The Junior Market ended trading with an average PE Ratio of 12.5, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Access Financial rallied $2 to finish at $21.86 with traders dealing in 46 shares, AMG Packaging rose 30 cents to $3.42, with 13,950 stocks crossing the market, CAC 2000 gained 63 cents to close at $4.45 with a transfer of just one share.
Cargo Handlers dropped $1.45 to end at $12.50 as investors exchanged 4,230 units, Fontana popped 16 cents in closing at $8.99 after investors ended trading 34,403 shares, Future Energy sank 9 cents and ended at $3.40 with investors trading 177,701 units. Honey Bun dipped 8 cents to $7 in an exchange of 3,406 stock units, Jamaican Teas climbed 13 cents to end at $2.53 after 5,000 stock units passed through the market, Knutsford Express increased 88 cents in closing at $11.88 with an exchange of 6,176 shares. Lumber Depot advanced 36 cents to close at $2.70, with 990 units changing hands, Mailpac Group rose 10 cents to finish at $2.10 after a transfer of 482,420 stocks, Main Event advanced 19 cents and ended at $13.80 with investors dealing in 18,295 stock units and tTech lost 29 cents to $2.01 in an exchange of 83 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
CPJ enters ICTOP10 Broilers out
With what has become the norm, the markets pulled back to start April from the pump-up end of month prices in March, resulting in varied outcomes for the ICTOP10 and ending with Jamaica Broilers falling from the Main Market TOP10 and Caribbean Producers entering at the number 9 spot.
There were no changes to the list of companies in the Junior Market TOP10 this past week.
Caribbean Producers is the primary supplier of foods and beverages to the growing tourist industry on the north coast of Jamaica and St Lucia, the company is also expanding its meat processing arm as well as retail areas in both countries. ICInsider.com’s projected EPS is $1.35 for the fiscal year to June 2024. With plans for long term growth in the local tourism sector, the company has a B base for growth for many years to come.
Jamaica Broilers although out of the TOP10, is undervalued and possesses good long term growth prospects as they constantly spend resources to expand or modernise the operation.
In Main Market activity this past week, General Accident jumped 16 percent to $6.15, a 52 weeks’ high, with buying interest in recent weeks, being very high and active supply in the market low, a recipe for higher prices ahead and Key Insurance lost 14 percent to end at $2.22.
The Junior Market closed the week with a 17 percent jump for Iron Rock Insurance to $2.51 while Consolidated Bakeries gained 8 percent to $2.19 but Jamaican Teas dropped 13 percent to $2.40 and Caribbean Cream lost 8 percent to land at $3.58 while Express Catering and Access Financial fell by 7 percent to $3.70 and $19.86 respectively.
The average PE for the JSE Main Market ICTOP 10 stands at 5.5, well below the market average of 13.1 and the Junior Market TOP10 sits at 7.2 over half of the market, with an average of 12.5.
The Main Market ICTOP10 is projected to gain an average of 274 percent by May 2025, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 183 percent over the same period.
In the Main Market ICTOP 10, a total of 17 of the most highly valued stocks representing 33 percent of the Main Market are priced at a PE of 15 to 106, with an average of 30 and 27 excluding the highest PE ratios, and a PE of 24 for the top half and 21 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 9 stocks, or 20 percent of the market, with PEs ranging from 15 to 50, averaging 22, well above the market’s average. The top half of the market has an average PE of 17, possibly the lowest fair value for stocks, currently.
Of great import is that the averages of both markets are now converging around a PE of 20 for close to a third of the market, as the year is coming to a close and with more information available on the full year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. 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 and result 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.
Lasco companies out of ICTOP10
Shake up took place in the ICTOP10 with Lasco Manufacturing that closed up by 10 percent to $6.08 at the end of last week and Lasco Distributors that fell 7 percent to $4.25 and dropping out of the TOP10 following migration from the Junior to the Main Market last week Wednesday.
With the 2024 financial year ending in March, the two companies will see a bump in earnings for 2025 and likely put them in the ICTOP10 again. Since the switch in listing, the number of stocks offered for sale has declined sharply and so have the bids to buy.
Coming into the Junior Market listing are Consolidated Bakeries, while AMG Packaging returns after a weeks’ absence, with the price falling to $3.12 from $3.27, EPS for the Consolidated Bakeries is projected at 30 cents for 2024, pushing it into position 2. The company promised much with a good brand but has delivered inadequate returns since being listed in 2013, but the operations have been undergoing changes with more focus on higher margin products and less on the regular breads, that faces greater competition in the market. A review of the 2023 audited statements shows that cost jumped but this was mostly for big wage increases which should moderate in 2025. Investing in the company is not without risk but it should benefit from continued growth and improved employment in the local economy going forward that should result in revenues growing faster than cost.
There were no new listing in the Main Market, but 138 Student Living rose 10 percent to $4.19 and JMMB Group gained 6 percent to close trading last week at $26.50, while Palace Amusements shed 9 percent to $1.04 and General Accident fell 6 percent to $5.30.
The Junior Market closed last week in positive territory as Stationery & Office Supplies climbed 13 percent to $1.70 while, Jamaican Teas, ISP Finance and Lasco Manufacturing all gained 10 percent, Iron Rock Insurance dropped 15 percent to $2.14 and Lasco Distributors fell 7 percent to $4.25.
There were no changes to the list of companies in the Main Market TOP10 this past week.
The average PE for the JSE Main Market ICTOP 10 stands at 5.6, well below the market average of 13.4 and the Junior Market TOP10 sits at 7.2 over half of the market, with an average of 13.3.
The Main Market ICTOP10 is projected to gain an average of 270 percent by May 2024, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 178 percent over the same period.
In the Main Market ICTOP 10, a total of 16 of the most highly valued stocks representing 31 percent of the Main Market are priced at a PE of 15 to 106, with an average of 32 and 23 excluding the highest PE ratios, and a PE of 24 for the top half and 19 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 9 stocks, or 20 percent of the market, with PEs ranging from 15 to 50, averaging 23, well above the market’s average. The top half of the market has an average PE of 18, possibly the lowest fair value for stocks, currently.
Of great import is that the averages of both markets are now converging around a PE of 20 for close to a third of the market, as the year is coming to a close and with more information available on the full year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. 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 2024 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 and result 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.
Big drop for Junior Market on Friday
Trading closed on the Junior Market of the Jamaica Stock Exchange Friday, with a big drop in the market index following a 10 percent decline in the volume of stocks traded, following a 28 percent drop in value compared to market activity on Thursday with trading in 40 securities compared with 44 on Thursday and ending with prices of nine rising, 20 declining and 11 closing unchanged.
At the close of trading, the Junior Market Index dived 51.06 points to end at 3,766.56, down 2.1 percent for the year to date.
The market closed on Friday with trading of 3,732,698 shares valued at $7,075,691 compared with 4,130,132 stock units at $9,762,303 on Thursday.
Trading averaged 93,317 shares at $176,892, compared with 93,867 units at $221,871 on Thursday. Trading for the month to date, averaged 151,929 stock units at $328,204 compared with 170,245 stocks at $375,489 on the previous day and compared to March with an average of 221,659 units at $464,382.
ONE on ONE Educational led trading with 1.23 million shares for 32.8 percent of total volume followed by EduFocal with 432,820 units for 11.6 percent of the day’s trade as the price hit a 52 weeks’ low in trading and Fosrich with 222,006 stock for 5.9 percent market share.
The Junior Market ended trading with an average PE Ratio of 12.5, based on the last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, Access Financial declined $2.09 to $19.86 after an exchange of 121 shares, AMG Packaging fell 34 cents and ended at $3.12, with 500 units changing hands, Blue Power rose 23 cents in closing at $3.23 after an exchange of 69,564 shares. CAC 2000 dropped 67 cents to finish at $3.82 with investors transferring 569 stock units, Caribbean Assurance Brokers advanced 15 cents to end at $2.35 in an exchange of 84,264 shares, Caribbean Cream shed 30 cents to close at $3.58 with investors swapping 2,030 units. Derrimon Trading sank 10 cents to $2 in switching ownership of 207,716 stocks, 
Elite Diagnostic popped 25 cents in closing at $1.66 with traders dealing in 1,471 stock units, Image Plus skidded 7 cents to finish at $1.88 as investors exchanged 12,718 shares. Jetcon Corporation lost 7 cents and ended at 88 cents in trading 2,056 stock units, Knutsford Express slipped 80 cents to end at $11 with investors exchanging 2,293 stocks, Limners and Bards dipped 41 cents to close at $1.34 with a transfer of 11,395 units. Lumber Depot sank 36 cents to close at $2.34 following the trading of 181,052 shares, Main Event lost 66 cents to end at $13.61 in an exchange of 39,401 stock units, ONE on ONE Educational slipped 7 cents in closing at 92 cents with investors trading 1,225,460 stocks and Tropical Battery gained 13 cents to close at $2.18 after a transfer of 26,549 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
