JSE Main Market gains 7% in November

November 30, 2020 by

Stocks put in a spirited run in November, rising 6.5 percent in the month to close at the highest level since April 14, at the close of the Jamaica Stock Exchange Main Market on Monday after more stocks advanced than declined, with an exchange of 93 percent fewer shares than on Friday.

JSE Main Market in a strong move since the start of November.

At the close, the All Jamaican Composite Index jumped 2,322.50 points to 438,045.18, the Main Index climbed 2,101.69 points to 399,576.1 and the JSE Financial Index gained 0.60 points to settle at 104.85.
Trading ended with 49 securities changing hands compared to 41 on Friday and closed with the prices of 23 stocks rising, 18 declining and eight remaining unchanged. The average PE Ratio ended at 16.2 based on ICInsider.com’s forecast of 2020-21 earnings.
Investors exchanged 16,714,722 shares for $170,632,583 compared to 229,254,233 units at $226,718,055 on Friday. Wigton Windfarm led trading with 29.4 percent of total volume, after exchanging 4.92 million shares, followed by Transjamaican Highway with 23.8 percent for 3.97 million units, QWI Investments with 14 percent share for 2.35 million units and Sagicor Group with 9.9 percent in trading 1.65 million units.
Trading averaged 341,117 units at $3,482,298 for each security, compared to 5,591,567 shares at  $5,529,709 on Friday. Month to date, the average ended at 623,120 units at $6,686,047 for each security, in contrast to 639,789 units at $6,875,412. October averaged 398,200 units at $4,622,532.
Investor’s Choice bid-offer indicator reading shows  14 stocks ending with bids higher than their last selling prices and three with lower offers.
At the close of the market, Barita Investments climbed $3.50 in closing at $88, after trading 229,432 shares, Berger Paints shed 45 cents to settle at $12.05, with 12,811 units in crossing the changing hands. Eppley Caribbean Property Fund climbed $4.90 to $44.90, in exchanging 62,793 shares, Grace Kennedy closed at $66.50, with a loss of 50 cents after a transfer of 63,330 shares, Jamaica Broilers Group gained 56 cents exchanging 10,323 units to close at $28.50. Jamaica Producers finished at $21, after gaining $1, with the transferring of 75,409 shares, Jamaica Stock Exchange rose $1.50 to $21 trading 39,878 units, Key Insurance gained 63 cents to end at $10.98, with 63,394 shares changing hands. Mayberry Investments lost 40 cents to end at $5.60 after 515 units passed through the market, NCB Financial Group dropped $2.49 to $146.01, in exchanging 14,630 units, Palace Amusement climbed $100 to $1,300 after clearing the market with 12 units. Pan Jam Investment advanced by $2.90 to close at $70, with 142,736 shares crossing the exchange, Sagicor Group rose $1 to $52 trading 1,647,769 shares, Salada Foods closed at $27, with a loss of $1 in trading 5,498 units. Scotia Group fell by $1.99 to $46 in exchanging 210,312 shares, Seprod gained $1.10 to end at $65.10, with a transfer of 18,206 units, Supreme Ventures shed 87 cents to finish at $16.63, with 23,840 stock units changing hands and Sygnus Credit Investments lost 69 cents trading 181,280 shares to end the day’s trade at $17.31.

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

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Big gains for some IC TOP 10 stocks

November 28, 2020 by

During the past week, Grace Kennedy was the top 10 best performer rising 16 percent to 67 percent, followed by Caribbean Producers 12 percent gain to close the week at $2.63, during a period when stocks continue their climb higher to their highest level since early-April on the Jamaican Stock Exchange Main Market in the past week.

Grace Kennedy gained 16% for the week.

The Junior Market continues to fight in continuing to build on the gains in recent weeks, with moves in both markets confirming the bullish signal technical indicators been flashing.
The movement in the markets resulted in Stanley Motta coming into the Main Market IC TOP 10, replacing Jamaica Producers. The Junior Market Top 10 remained without any new movement in and out, but Jamaican Teas started trading ex split on Friday and closed at $2.05, down from last weeks’ adjusted closing price of $2.23.
This week’s focus: 2020 is now drawing to a close and should lead investors to start the focus on 2021 and some companies that could deliver superior returns. Many of the companies that suffered badly from reduced sales could be some that should be on the investors’ list. Access Financial, Caribbean Producers, Express Catering, Elite Diagnostic, Lasco Financial, NCB Financial are some that could enjoy above-average recovery and then there are entities such as Grace Kennedy, Carib Cement, Berger Paints and Lumber Depot that should get added push from continued buoyancy in the construction sector.
The top three stocks in the Junior Market with the potential to gain between 231 to 394 percent by March 2021 are Caribbean Producers, followed by Elite Diagnostic and Limber Depot. With expected gains of 149 to 260 percent, the top three Main Market stocks are, Berger Paints followed by Radio Jamaica and Carreras in the third position.
The local stock market’s targeted average PE ratio is 20based on profits of companies reporting full year’s results, from now to the second quarter in 2021. The Junior and Main markets are currently trading well below the market average, indicating the potential gains ahead. The JSE Main Market ended the week, with an overall PE of 15.5, The Junior Market 13.3, based on ICInsider.com’s projected 2020-21 earnings. The PE ratio for the Junior Market Top 10 stocks average a mere 7.2 at just 54 percent to the average of the Junior Market. The Main Market TOP 10 stocks trade at a PE of 9 or 58 percent of the PE of that market.
The average projected gain for the Junior Market IC TOP 10 stocks is 201 percent and 132 percent down from140 percent last week for the JSE Main Market, based on 2020-21 earnings, indicating greater likely gains for Junior Market stocks than the Main Market.
IC TOP 10 stocks are likely to deliver the best returns up to March 2021 and ranked in order of potential gains, based on likely gain for each company, taking into account the earnings and PE ratios for the current fiscal year.  Expected values will change as stock prices fluctuate and result in movements in and out of the lists weekly. 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: , , , , , , , , , , , , , , , , , , , , , , , , ,

Gains piling up for JSE Main Market

November 27, 2020 by

Stocks mostly rose on the Main Market of the Jamaica Stock Exchange at the close on Friday after an exchange of more than 19 times the number of shares and a 24 percent increase in the value than on Thursday as the bullish tone of the market continues.
At the close, the All Jamaican Composite Index advanced 3,600.36 points to 435,722.68, the Main Index climbed 3,258.67 points to 397,474.41 and the JSE Financial Index gained 0.83 points to settle at 104.25.
Trading ended with stocks of 41 companies changing hands compared to 38 on Thursday with the prices of 17 stocks rising, 11 declining and 13 remaining unchanged.
The average PE Ratio closed at 15.9 based on ICInsider.com’s forecast of 2020-21 earnings.
Investors exchanged 229,254,233 shares at $226,718,055 compared to 12,009,747 units at $182,824,365 on Thursday. Sagicor Select Financial Fund led trading with 95.3 percent of total volume, after exchanging 218.40 million shares followed by Wigton Windfarm with 2.1 percent of the day’s trade for 4.81 million units and Transjamaican Highway with 1.4 percent market share for 3.10 million units.
Trading averaged 5,591,567 units at $5,529,709 for each security, versus 316,046 shares at $4,811,167 on Thursday. Month to date average ended with 639,789 units at $6,875,412 for each security, compared to 382,145 units at $6,945,430. October averaged 398,200 units at $4,622,532.
Investor’s Choice bid-offer indicator shows five stocks ending with bids higher than their last selling prices and two with lower offers.
At the close of trading, Barita Investments gained 45 cents to settle at $84.50, in exchanging 101,656 shares, Caribbean Cement advanced by $2 to $61, with investors swapping 3,296 units, Eppley rose $2.20 to $24.45, after 19,640 stock units passed through the market. Grace Kennedy ended $3.86 higher at $67, with 328,868 shares changing hands, Jamaica Stock Exchange rose 88 cents to $19.50 after exchanging a mere 100 units, JMMB Group advanced by $2 to $35, in trading 334,276 shares. Key Insurance closed at $10.35 and rose to $1.75 after trading 287,658 shares, MPC Caribbean Clean Energy declined by $4.50 to $145.50, in crossing the market with 224 units, Pan Jam Investment fell $1.05 to $67.10 trading 25,670 stock units. Proven Investments climbed $2.22 to $39.02, with an exchange of 56 units, Scotia Group advanced $2.89 to $47.99, with investors swapping 45,993 stock units, Stanley Motta shed 80 cents to close at $4.70, in crossing the market with 5,500 units and Supreme Ventures loss of 50 cents to end at $17.50, after 145,808 shares passed through the market.

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

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Rising stocks beat decliners 2 to 1

November 26, 2020 by

Prices mostly rose on Jamaica Stock Exchange Main Market on Thursday with slightly fewer shares trading than on Wednesday but with the value plunging 45 percent with fewer securities trading than the prior day.
At the close, the All Jamaican Composite Index slipped just 210.35 points to 432,122.32, the Main Index eased 230.64 points to 394,215.74 and the JSE Financial Index edged 0.02 points lower to 103.42.
Trading ended with 38 securities changing hands compared to 42 on Wednesday and closed with the prices of 21 stocks rising 10 declining and seven remaining unchanged. The average PE Ratio ended at 15.9 based on ICInsider.com’s forecast of 2020-21 earnings.
Trading closed with 12,009,747 shares changing hands for $182,824,365 compared to 12,512,087 units at $330,562,424 on Wednesday. Sagicor Select Financial Fund led trading with 27.7 percent of total volume, after exchanging 3.32 million shares, followed by Sagicor Group with 18.1 percent of the day’s trade for 2.17 million units, Transjamaican Highway with 16.3 percent market share for 1.96 million units and Wisynco Group accounted for 14.6 percent with 1.75 million units changing hands.
Trading ended with an average of 316,046 units changing hands at $4,811,167 for each security, compared to an average of 297,907 shares at $7,870,534 on Wednesday. Month to date average ends at 382,145 units for $6,945,430, in contrast to 385,494 units at $7,053,566 on Tuesday. October averaged 398,200 units at $4,622,532. 
Investor’s Choice bid-offer indicator reading shows eight stocks ending with bids higher than their last selling prices and two with lower offers.
At the close of the market, Barita Investments lost 45 cents to end at $84.05, after trading 9,128 shares, Caribbean Cement dropped 50 cents to $59 after exchanging 5,685 units, Jamaica Broilers gained 85 cents in closing at $27.93, with 208,150 shares changing hands. Jamaica Stock Exchange finished at $18.62, after losing 38 cents and trading 232,575 shares, JMMB Group rose 65 cents to $33 in exchanging 54,100 units, Key Insurance lost 30 cents to end at $8.60 after transferring 12,009 stock units. Kingston Wharves climbed $2.75 to $48.45, with 1,375 shares changing hands, Mayberry Jamaican Equities closed 36 cents higher at $8.15 in exchanging 12,000 stock units, NCB Financial climbed $2.50 to $148.50, with a transfer of 58,915 shares. Palace Amusement jumped $100 to $1,200 after an exchange of 34 units, PanJam Investment gained $1.05 to close at $68.15, trading 31,652 stock units, Proven Investments fell by $1.88 to $36.80 after switching ownership of 9,831 shares. Sagicor Group rose 89 cents to $51, with 2,172,115 shares changing hands and Supreme Ventures gained $1.52 to close at $18 trading 45,204 shares.

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

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

JSE main market index rising

November 25, 2020 by

The market indices raced to big gains of more than 5,000 points in the first hour of trading on the Jamaica Stock Exchange Main Market on Wednesday but gave up a few thousand points before ending trading up by more than 3,000 points, although declining stocks outnumbered rising ones, almost two to one.
At the close, the All Jamaican Composite Index advanced by 3,396.16 points to 432,332.67, the Main Index climbed 3,018.17 points to 394,446.38 and the JSE Financial Index rose 0.33 points to settle at 103.44.
Trading ended with 42 securities changing hands compared to 45 on Tuesday and closed with the prices of 13 stocks rising, 24 declining and five remaining unchanged. The average PE Ratio ends at 15.8 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 73 percent fewer shares than on Tuesday as 12,512,087 shares traded for $330,562,424 compared to 46,789,600 units at $269,845,318 on Tuesday. Barita Investments led trading with 25.9 percent of total volume, after exchanging 3.24 million shares, followed by Transjamaican Highway with 19.4 percent of the day’s trade for 2.42 million units, Wigton Windfarm with 14.9 percent market share for 1.87 million units for 14.9 percent market share and QWI Investments accounted for 9.1 percent with 1.14 million units.
Trading averaged 297,907 units at $7,870,534 for each security, compared to 1,039,769 shares at $5,996,563 on Tuesday. The average trade for the month to date is 385,494 units at $7,053,566 for each security, compared to 390,690 units at $7,005,102 on Tuesday. October averaged 398,200 units at $4,622,532.
Investor’s Choice bid-offer indicator reading shows 10 stocks ending with bids higher than their last selling prices and none with lower offers.
At the close of the market, Berger Paints gained 65 cents to settle at $12.50, after exchanging 33,647 shares, Caribbean Cement lost $1.40 to close at $59.50, in trading 13,540 units, Eppley Caribbean Property Fund declined $4 to end at $40, with an exchange of 6,076 stock units. Grace Kennedy climbed $2.08 to $63.08, trading 47,479 shares, Jamaica Broilers shed 82 cents to $27.08 after swapping 36,110 shares, Jamaica Producers fell $1.71 to $20.03 after transferring 1,900 units. Jamaica Stock Exchange shed 90 cents to end at $19, with an exchange of 13,464 stocks, JMMB Group lost 65 cents to end at $32.35, in clearing the market with 127,898 shares, Kingston Wharves declined $3.15 to $45.70 trading 17,400 stock units. Mayberry Investments fell $1.05 to $5.95 after exchanging 40,850 stocks, MPC Caribbean Clean Energy climbed $11.99 to close at $150 after trading 292 units, NCB Financial gained 90 cents to end at $146, with 10,623 shares changing hands. Pan Jam Investment finished at $67.10, with gains of 60 cents after clearing the market with 18,832 units, Proven Investments lost 36 cents to settle at $38.68, with the swapping of 14,106 stock units, Pulse Investments ended at $4.58 after losing 31 cents and exchanging 443,745 shares. Salada Foods fell $1 to $28, in transferring 24,249 stock units, Scotia Group declined $1.71 to $45.14, in clearing the market with 11,685 units, Seprod shed 50 cents to settle at $64, with 1,163 stocks passing through the market. Sterling Investments gained 50 cents to end at $3.70, with the switching of 330 units, Supreme Ventures gained 48 cents to finish at $16.48 after trading 162,359 shares and Wisynco Group closed 49 cents higher at $16, with 437,353 stocks passing through the market.

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

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Bulls roll on at Exchange Place

November 24, 2020 by

The majority of stock trading rose on Tuesday on Jamaica Stock Exchange Main Market after an exchange of 68 percent more shares worth 62 percent more than on Monday.
At the close, the All Jamaican Composite Index climbed 2,982.72 points to 428,936.51, the Main Index rose 2,680.31 points to 391,428.21 and the JSE Financial Index gained 0.29 points to settle at 103.11.
Trading ended with 45 securities changing hands compared to 41 on Monday and closed with the prices of 24 stocks rising, 13 declining and eight ending unchanged. The average PE Ratio ends at 16 based on ICInsider.com’s forecast of 2020-21 earnings.
Trading closed with 46,789,600 shares changing hands for $269,845,318 compared to 27,815,530 units at $166,571,949 on Monday.
Transjamaican Highway led trading with 46.5 percent of total volume, after exchanging 21.77 million shares, followed by Sagicor Select Financial Fund with 32.4 percent for 15.14 million units, JMMB Group with 11.4 percent market share for 5.34 million units and Wigton Windfarm accounted for 2.2 percent of trading with 1 million units.
Trading averaged 1,039,769 units changing hands at $5,996,563 for each security, compared to an average of 678,428 shares at $4,062,730 on Monday. Trading for the month to date averaged 390,690 units at $7,005,102 for each security, versus 346,635 units at $7,073,555 on Monday. October averaged 398,200 units at $4,622,532.
The Investor’s Choice bid-offer indicator reading shows 9 stocks ending with bids higher than their last selling prices and three with lower offers.
At the close of the market, Caribbean Cement advanced $2.90 to $60.90 with the trading of 26,059 shares, Eppley fell $2.90 to $22.10, in exchanging 1,564 units, Eppley Caribbean Property Fund climbed $2.50 to $44, with 12,622 stock units changing hands. First Rock Capital shed 94 cents to end at $12.06 after exchanging 10,392 shares, Grace Kennedy gained $3 to close at $61, with the trading of 177,009 stocks, Jamaica Broilers rose $1.50 to $27.90 in switching ownership of 13,747 stock units. Jamaica Producers finished $1.68 higher at $21.74, after clearing the market with 2,188 units, JMMB Group rose $1.10 to $33, in an exchange of 5,338,124 shares, Kingston Properties climbed 50 cents to $7.48, with 2,025 units changing hands. Mayberry Investments ended $1.38 higher at $7 trading 50,100 shares, Mayberry Jamaican Equities gained 93 cents to finish at $7.93, with investors swapping 30,167 stock units, NCB Financial fell $3.40 to $145.10, with an exchange of 18,559 shares. Palace Amusement declined $200 to end at $1,100, in trading 5 stock units, Pan Jam Investment rose $1.50 to $66.50, after exchanging 2,067 stock units, Proven Investments gained 79 cents to close at $39.04, trading 2,785 units. Sagicor Group advanced $2 to $50 and ending with an exchange of 309,520 shares, Salada Foods climbed $4 to close at $29, trading 7,008 units, Seprod gained $1.50 to end at $64.50 after exchanging 19,273 stock units and Sterling Investments lost 50 cents to close at $3.20 transferring 255,264 shares.
In the preference segment, Community & Workers Credit Union lost 20 cents to close at an all-time low of $1.50 after trading 6,800 shares.

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

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Bullish open fades on the JSE Main Market

November 23, 2020 by

Stocks raced 3,011 points ahead of the 425,748.98 close on Friday within 12 minutes of the market’s opening and pushed the All Jamaican Composite Index to 428,759.90 on the Jamaica Stock Exchange Main Market on Monday, but the market ended the day with a modest rise after more stocks gained than fell.
At the close, the All Jamaican Composite Index rose 204.81 points to 425,953.79, the Main Index advanced by 284.47 points to 388,747.9 and the JSE Financial Index gained 0.31 points to settle at 102.82.
Trading ended with 41 securities changing hands compared to 36 on Friday and closed with the prices of 21 stocks rising, nine declining and 11 remaining unchanged. The average PE Ratio ended at 15.8 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 38 percent fewer shares than on Friday, after 27,815,530 shares traded for $166,571,949 compared to 44,980,918 units at $1,341,663,306 on Friday. Sagicor Select Financial Fund led trading with 53.9 percent of total volume, after exchanging 14.98 million shares followed by Wigton Windfarm with 13.5 percent for 3.76 million units. Transjamaican Highway controlled a 12.7 percent market share with 3.54 million units and Sagicor Select Manufacturing & Distribution Fund accounted for 3.6 percent of the day’s trade in closing with one million units changing hands.
The average trade was 678,428 units for $4,062,730, compared to an average of 1,249,470 shares at  $37,268,425 on Friday. The average trade for the month to date ends at 346,635 units at $7,073,555 for each security, in contrast to 324,765 units at $7,272,017. October averaged 398,200 units at $4,622,532.
The Investor’s Choice bid-offer indicator reading shows nine stocks ending with bids higher than their last selling prices and four with lower offers.
At the market closing, Barita Investments gained 50 cents in closing at $84.50, after 11,863 shares cleared the market, Caribbean Cement advanced $1.33 to $58 in trading 2,631 units, Eppley gained $4.98 to $25, with 28,065 stock units changing hands. Eppley Caribbean Property Fund rose 75 cents to $41.50, with 1,350 units crossing the exchange, First Rock Capital gained 30 cents to end at $13 after an exchange of 19,470 stocks, Jamaica Broilers shed 60 cents to settle at $6.40 in trading 6,876 units. Jamaica Producers ended at $20.06, with gains of 36 cents after exchanging 1,067 stock units, Jamaica Stock Exchange rose 87 cents to $19.87, with investors swapping 12,561 shares, Key Insurance jumped $1.81 to $9.11, trading 42,172 units. Mayberry Jamaican Equities shed 80 cents to settle at $7, after transferring 3,098 units, NCB Financial declined $1.48 to$148.50, in crossing the exchange with 714,826 shares, Palace Amusement climbed $34.99 to $1,300, with 2 units changing hands. Salada Foods fell $2.50 to $25, with 5,139 stock units crossing the market, Scotia Group rose 85 cents to end at $46.85, exchanging 10,778 shares and Seprod gained $1 to close at $63 trading 19,472 stock units.

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

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Berger Paints Q3 profit surges

November 22, 2020 by

Profit before taxation soared an outstanding 524 percent for Berger Paints for the third quarter, but that was insufficient to wipe out the losses incurred in the first and second quarters, amounting to $63 million.  

Berger Paints Q3 profit jumps.

For the quarter ended September 2020, the company recorded a profit before tax of $58 million, up from $9 million for the corresponding quarter in 2019.
Taxation climbed 700 percent for the quarter from a loss of $1.8 million to $14.7 million for the quarter but dropped by 162 percent for the year from $10 million to a credit of $6 million. Net profit came in at $43 million for the quarter, a 481 percent jump over the comparative quarter’s figure of $7.4 million.
Profit after tax dropped 151 percent from $40 million to a loss of $20 million for the nine months period after-tax, losing $26 million, for the nine months to September, compared to a profit of $50 billion at the end of September 2019. Heading into the traditional festive season, Berger will be hoping to close out the fiscal year on a high note with a strong increase in the final quarter profit.
Revenue improved by eight percent for the quarter from $534 million to $574 million but fell nine percent from $1.63 billion to $1.49 billion for the nine months to September.
Direct Manufacturing expenses fell by 29.7 percent for both the quarter and the year to date, recorded at $304 million and was down 26 percent to $763 million respectively. Gross profit jumped 103 percent for the quarter from $150 million to $304 million and increased 20 percent for the year to date from $609 million to $732 million, with gross profit margins of 53 percent for the quarter, up from just 28 percent in 2019 and 49 percent for the 2020 nine months, up from 37 percent in 2019. The input in paint production is heavily based on petrochemicals as such a fall in the price of oil on the world market would result in reduced production cost for the company.
Depreciation jumped 78 percent for the quarter to $20 million and a 58 percent increase to $45 million for the year. Other operating expenses declined 8 percent for the quarter from $118 million to $108 million and saw a 25 percent rise for the year from $262 million to $327 million. Other income for the quarter stood at $7.2 million for the quarter up from just $182,000 and at $7.7 million for the year to date from $54,000 in 2019.
The company implemented new information technology last year, which the company claims are working well. “The recently deployed Enterprise Resource Planning (ERP) system has settled and has been providing Management with key insights to allow for a deeper appreciation of the business drivers and, with that, quicker decision making. Although a relatively new deployment, it is already contributing value to the business,” the Chairman, Adam N. Sabga, remarked in a statement accompanying the quarterly.
Net cash inflows generated cash of $21 million, but a reduction in amounts due to payables and fellow subsidiaries resulted in cash from operating activities was an outflow of $190 million and capital spend and loan payments increased cash outflows to $263 million. Current assets stood at $1.37 million inclusive of Inventories of $509 million, Receivables of $443 million and cash and bank balances of $306 million.  Current liabilities tallied $572 million inclusive of $126 million due to the immediate parent company and $369 million to fellow subsidiaries. At the end of September, shareholder’s equity stood at $1.1 billion.
Earnings per share came in at 20 cents for the quarter and a loss of 10 cents for the nine months to September and ICInsider.com projects full-year earnings of $2.25 per share with a rise to $2.80 in 2021.
The stock is currently trading at $11.85 on the Main Market of the Jamaica Stock Exchange with a PE ratio of 5.3 times 2020 earnings.

Filed Under: Buy Rated, Company News, Company Results Tagged With: , , , ,

Price movements bring change to IC TOP 10

November 22, 2020 by

Stocks rose to their highest level since mid-April on the Jamaican Stock Exchange Main Market in the past week, during the past week the Junior Market traded at the highest level in seven weeks, with moves in both markets confirming the bullish signal technical indicators been flashing for weeks.
The movement in the markets resulted in shifts in the IC TOP 10. In the Junior Market Top 10, Access Financial dropped out after a week with the price moving from $20.02 to $22 while AMG Packaging moving in to sit in ninth position. Jamaican Teas shareholders approved a three for one stock split leading the stock up to $6.70 from $5.50. Eppley lost its Main Market TOP 10 position with the price moving up from $18.97 to $20.02  and is replaced by Jamaica Producers.
The top three stocks in the Junior Market with the potential to gain between 233 to 456 percent by March 2021are Caribbean Producers, followed by Elite Diagnostic and Limber Depot. With expected gains of 150 to 280 percent, the top three Main Market stocks are Berger Paints, followed by Radio Jamaica and Grace Kennedy in the third position.
The local stock market’s targeted average PE ratio is 20 based on profits of companies reporting full year’s results, from now to the second quarter in 2021. The Junior and Main markets are currently trading well below the market average, indicating the potential gains ahead. The JSE Main Market ended the week, with an overall PE of 15.3 and the Junior Market 13.7, based on ICInsider.com’s projected 2020-21 earnings. The average PE ratio of the Junior Market has been slowly rising, with better profit opportunities than the Main Market and narrowing the gap. The PE ratio for the Junior Market Top 10 stocks average a mere 7.2 at just 53 percent to the average of the Junior Market. The Main Market TOP 10 stocks trade at a PE of 8.7 or 57 percent of the PE of that market.
The average projected gain for the Junior Market IC TOP 10 stocks is 202 percent and 140 percent for the JSE Main Market, based on 2020-21 earnings, indicating greater gains are likely in the Junior Market than the Main Market.
IC TOP 10 stocks are likely to deliver the best returns up to March 2021 and ranked in order of potential gains, based on likely gain for each company, taking into account the earnings and PE ratios for the current fiscal year.  Expected values will change as stock prices fluctuate and result in movements in and out of the lists weekly. 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: , , , , , , , , , , , , , , , , , , , , , , , ,

Main Market back at Mid-April close

November 20, 2020 by

Market indices bounced for the Jamaica Stock Exchange Main Market on Friday to sit a fraction below the April 17 close, but is still 24 percent lower than the start of the year, but closed with 362 percent more shares traded than Thursday but with more than twice the number of stocks declining as advancing.

Main Market index displaying bullish formation

The market continues to maintain the bullish mood that has been slowly building since the summer months as the market, closing, as the All Jamaican Composite Index climbed 1,286.30 points to 425,748.98, the Main Index rose 1,154.92 points to 388,463.43, but the JSE Financial Index lost 0.12 points to settle at 102.51.
Trading ended with 36 securities changing hands compared to 37 on Thursday and closed with the prices of nine rising, 19 declining and eight remaining unchanged. The average PE Ratio ended at 15.6 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 44,980,918 shares for $1,341,663,306  compared to 9,736,055 units at $369,213,753 on Thursday.
Sagicor Manufacturing & Distribution Fund led trading with 33.4 percent of total volume, after exchanging 15 million shares followed by QWI Investments with 32.7 percent for 14.7 million units, NCB Financial with 18.9 percent for 8.5 million units. Transjamaican Highway controlled 4 percent market share, with 1.78 million units Sagicor Select Financial Fund accounted for 3.7 percent with 1.65 million units and Wigton Windfarm controlled 3.5 percent of the market with 1.57 million units.
The average traded was 1,249,470 units at $37,268,425 for each security, compared to an average of 263,137 shares at  $9,978,750 on Thursday. The average trade for the month to date ends at 324,765 units at $7,272,017 for each security, in contrast to 267,957 unit at $5,429,235. October averaged 398,200 units at $4,622,532.
At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows 10 stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close of the market, Berger Paints gained 30 cents to close at $11.85 exchanging 33,440 shares, Caribbean Cement declined by $3.32 to end at $56.67, in trading 2,579 stock units, Jamaica Broilers shed 50 cents to settle at $27, after crossing the market with 4,824 units. Jamaica Producers fell $2.05 to $19.70, with 7,450 stock units changing hands, Key Insurance shed 85 cents to close at $7.30, trading 2,602 units, Kingston Wharves climbed $3.90 to settle at $48.90, with investors swapping 1,662 stock units. MPC Caribbean Clean Energy dropped $7.01 in closing at $138 trading 836 units, Pan Jam Investment closed at $65, with gains of $1.76, trading 147,995 shares, Proven Investments shed 50 cents in closing at $38, with 10,286 stock units changing hands. Sagicor Group finished at $48, after losing 50 cents exchanging 151,507 shares and Scotia Group rose 80 cents to settle at $46 trading 5,512 units.

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

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