Slippage for JSE Main Market

November 19, 2020 by

NCB Financial dominated the market on Thursday as prices of more stocks rose at the close of trading than those declining, but big losses in a number of stocks pressured the Jamaica Stock Exchange Main Market and pushed the market indices down.
At the close, the All Jamaican Composite Index dropped 2,741.60 points to 424,462.68, the Main Index fell by 2,536.99 points to 387,308.51 and the JSE Financial Index lost 0.60 points to settle at 102.63.
Trading ended with 37 securities changing hands compared to 44 on Wednesday and closed with prices of 15 stocks rising,  12 declining and 10 remaining unchanged. The average PE ends at 15.6 based on ICInsider.com’s forecast of 2020-21 earnings.
Trading ended with 40 percent fewer shares than Wednesday with a 49 percent decline in the value of stocks changing hands. At the close 9,736,055 shares traded for $369,213,753 compared to 16,137,399 units at $724,067,008 on Wednesday. NCB Financial led trading with 22.8 percent after exchanging 2.22 million shares, followed by Sagicor Select Financial Fund with 19.6 percent for 1.91 million units, Transjamaican Highway with 16.1 percent market share for 1.57 million units and Wigton Windfarm closed with 12.9 percent market share with 1.26 million units changing hands.
Trading averaged 263,137 units changing hands at $9,978,750 for each security, compared to 366,759 shares at $16,456,068 on Wednesday. Month to date average trade ends at 267,957 units at $5,429,235 in contrast to 268,282 units at $5,122,619 on Wednesday. Trading for 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 eight stocks ending with bids higher than their last selling prices and two with lower offers.
At the close of the market, Barita Investments shed 50 cents to end at $84, in an exchange of 3,848 shares, Berger Paints lost 30 cents to settle at $11.55 trading 7,643 stock units, Caribbean Cement climbed $5.99 to $59.99, after exchanging 13,531 stock units. Eppley Caribbean Property Fund fell $3.05 to $40.75, with a transfer of 8,110 stock units, First Rock Capital gained 89 cents to $12.89, with 1,081 units changing hands, Jamaica Broilers advanced $1.20 to $27.50, in trading 102 units. Jamaica Stock Exchange rose 68 cents to settle at $19, with investors switching ownership of 36,204 shares, Kingston Wharves dropped $3.90 to $45 in trading 55,000 shares, Palace Amusement dived $34.99 to $1,265.01, in an exchange of 42 units. Pan Jam Investment shed 76 cents to end at $63.24 after trading 5,898 units, Proven Investments settled at $38.50, with gains of $1.64, in clearing the market with 2,642 units, Sagicor Group gained 40 cents to close at $48.50, with 38,536 shares crossing the exchange. Seprod ended at $62, with a loss of 50 cents trading 5,503 units and Supreme Ventures rose 55 cents to $15.90, with an exchange of 26,291 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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

7 month JSE Main Market high

November 18, 2020 by

Stocks closed at a seven month high at the close of the Jamaica Stock Exchange Main Market trading on Wednesday with the market rising higher than Tuesday, with NCB Financial fueling the gain with a rise of $8 price as the All Jamaica Composite Index ended just below the April 16 close of 427,779.79 points.
At the close, the All Jamaican Composite Index surged 7,042.47 points to 427,204.28, the Main Index jumped 6,294.46 points to 389,845.50 and the JSE Financial Index added 2.61 points to settle at 103.23.
Trading ended with 44 securities changing hands compared to 42 on Tuesday and closed with the prices of 14 stocks rising, 17 declining and 13 remaining unchanged. The average PE ratio ended at 15.7 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed after an exchange of 16 percent more shares than on Tuesday, resulting in 16,137,399 shares trading for $724,067,008 compared to 13,931,581 units at $189,778,108 on Tuesday.
Grace Kennedy led trading with 29.6 percent of total volume after exchanging 4.77 million shares, followed by Transjamaican Highway with 21.9 percent for 3.53 million units. NCB Financial ended with 17.1 percent of the overall volume after trading 2.76 million units, with a value of $414 million and accounted for 57 percent of the market’s value and Sagicor Select Financial Fund closing with 5.6 percent of the volume as 1.4 million units traded.The average trade amounts to 366,759 units at $16,456,068 for each security, compared to an average of 331,704 shares at $4,518,526 on Tuesday. The average trade for the month to date ended at 268,282 units at $5,122,619 for each security, in contrast to 259,701 units at $4,135,150 on Tuesday. Trading for October averaged 398,200 units at $4,622,532 .
The Investor’s Choice bid-offer indicator reading for the market shows 10 stocks ending with bids higher than their last selling prices and two with lower offers.
At the close of the market, Barita Investments shed 30 cents to close at $84.50, in an exchange of 4,450 shares, Caribbean Cement dropped $5 to end at  $54 trading 23,334 stock units, Eppley gained 50 cents to close at $20, after clearing the market with 29,227 units. First Rock Capital lost 50 cents, closing at $12, with 27,582 shares passing through the market, Jamaica Broilers Group fell $1.60 to $26.30, in exchanging 2,557 units, Key Insurance gained 95 cents to end at $8.15, after trading just one stock. Kingston Properties fell 48 cents to $7, with a transfer of 550 units, Kingston Wharves rose $1.90 to $48.90, in crossing the exchange with 255 units, MPC Caribbean Clean Energy declined by $4.99 to $145.01, with an exchange of 59 units. NCB Financial climbed $8 to  $150, with 2,760,546 shares changing hands, Pan Jam Investment advanced by $2.84 to $64 after exchanging 11,719 units, Proven Investments declined by $2.14 in closing at $36.86, in trading 2,900 units. Salada Foods shed 79 cents to end at $27.50, with an exchange of 260 units, Scotia Group fell by $2.89 in closing at $45.06, with 172,829 shares changing hands and Supreme Ventures lost 65 cents to end at $15.35, after 27,135 stock units 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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

JSE Main market in bull territory

November 17, 2020 by

In continuation of the early stage of a bull market, the All Jamaica Composite Index of the Jamaica Stock Exchange Main Market jumped 4,847.95 points to close 420,161.81 on Tuesday, the highest close since the end of June when the index then closed at 420,735.55 points.

JSE all jamaica Composite index with bullish formation.

The move higher was telegraphed from September by one technical indicator and helped by some companies reporting attractive profits, for the September quarter.
In trading on Tuesday, rising stocks beat out falling ones by nearly five to one after an exchange of 96 percent more shares changing hands than on Monday, with a 46 percent increase in value.
At the close, the Main Index climbed 4,655.78 points to 383,551.04 and the JSE Financial Index rose 1.59 points to settle at 100.62.
Trading ended with 42 securities changing hands compared to 45 on Monday and closed with the prices of 23 stocks rising, five declining and 14 remaining unchanged. The average PE Ratio ended at 16 based on ICInsider.com forecast of 2020-21 earnings.
Trading resulted in 13,931,581 shares for $189,778,108 changing hands up from 7,088,457 units at $129,315,419 on Monday. Wigton Windfarm led trading with 42.1 percent of total volume after exchanging 5.86 million shares, followed by Carreras with 13.2 percent for 1.83 million units, Transjamaican Highway with 12.4 percent of the day’s trade for 1.73 million units and Grace Kennedy closing with 9.1 percent of the day’s volume after 1.27 million units changed hands.
Trading ended with an average of 331,704 units changing hands at $4,518,526 for each security compared to an average of 157,521 shares at $2,873,676 on Monday. The average trade for the month to date ended at 259,701 units at $4,135,150 for each security,in contrast to 253,170 units at $4,100,373. Trading month to date compares adversely to October’s average of 398,200 units at $4,622,532.
At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows five stocks ending with bids higher than their last selling prices and four with lower offers.
At the close of the market, Barita Investments rose to $84.80, with gains of 80 cents after trading 6,022 stock units, Caribbean Cement advanced by $1.01 to $59, in exchanging 9,327 stock units. Eppley Caribbean Property Fund climbed $4.80 to $43.80, with 380 units changing hands, First Rock Capital gained 50 cents to settle at $12.50, with 1,864 units crossing the market, JMMB Group rose 39 cents to $31.89, trading 60,673 shares. Key Insurance declined $1 to close at $7.20, after exchanging 270,373 shares, Kingston Wharves fell $1.50 to $47, with an exchange of 758 units, Margaritaville advanced by $7.33 to close at a record $56.23 with 10 units changing hands. Mayberry Jamaican Equities gained 93 cents with 9,000 stock units passing through the market to end at $7.93, NCB Financial climbed $3.50 to $142 after 462,307 units changed hands, 138 Student Living declined by $1.38 to $3.51, with the swapping of one stock unit, Proven Investments shed 80 cents to end at $39 after trading 3,894 stocks. Scotia Group rose by $1.23 to $47.95 with 254 units changed hands, Seprod ended at $62.50, with gains of $1.75 after investors switched ownership of 19,669 stock units, Supreme Ventures finished 50 cents higher at $16, in trading 43,509 shares and Victoria Mutual Investments gained 30 cents to settle at $5.40, with 84,799 shares changing hands.

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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Another rising day for JSE Main Market

November 16, 2020 by

The stock market indices continue to move higher at the end of trading on the Jamaica Stock Exchange Main Market on Monday after an exchange of 42 percent fewer shares with 36 percent less value than on Friday.
At the close, the All Jamaican Composite Index advanced by 1,062.24 points to 415,313.86, the Main Index climbed 1,066.43 points to 378,895.26 and the JSE Financial Index lost 0.34 points to settle at 99.03.
Trading ended with 45 securities changing hands compared to 41 on Friday and closed with the prices of 15 stocks rising, 20 declining and 10 remaining unchanged. The average PE Ratio ended at 15.5 based on ICInsider.com’s forecast of 2020-21 earnings.
Investors traded 7,088,457 shares for $129,315,419 versus 12,184,860 units at $359,160,713 on Friday.
Sagicor Select Financial Fund led trading with 22.9 percent of total volume after trading 1.62 million shares, followed by Transjamaican Highway with 15.2 percent for 1.08 million units and Wigton Windfarm with 9.2 percent for 654,201 shares.
Trading ends with an average of 157,521 units at $2,873,676 for each security, in comparison to an average of 297,192 shares at $8,760,017 on Friday. The average trade for the month to date ended at 253,170 units at $4,100,373 for each security, in contrast to 263,467 units at $4,232,434. Trading month to date compares adversely to October’s average of 398,200 units at $4,622,532.
At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows 12 stocks ending with bids higher than their last selling prices and three with lower offers.
At the close of the market, Barita Investments declined by $1.30 to end at $84, after crossing the market with 12,863 shares, Caribbean Cement climbed $4.98 to $57.99, exchanging 19,673 stock units, Eppley rose 53 cents to $19.50, in trading 3,208 units. First Rock Capital fell $1.25 to $12 after an exchange of 27,995 stock units, Jamaica Broilers rose $1.79 to $27.80, with 4,586 units passing through the market, Kingston Properties gained 48 cents to end at $7.48, in clearing the market with 857 units. MPC Caribbean Clean Energy climbed $15 to $150, after crossing the exchange with 10 units, NCB Financial climbed $4.50 to settle at $138.50, in trading 605,762 shares, Palace Amusement jumped $199.99 to $1,300 after trading 20 units. Sagicor Group closed at $48, with a loss of $1 with 20,399 stock units changing hands, Scotia Group carved out a loss of $1.43, in ending at $46.72, after 726 units cleared the market, Seprod declined $3.25 to $60.75 after exchanging 11,015 units. Stanley Motta gained 45 cents to close at $5.60, with 380 units changing hands, Supreme Ventures lost 47 cents to close at $15.50 after exchanging 99,556 shares and Victoria Mutual Investments shed 58 cents in closing at $5.10, with 487,968 shares crossing the exchange.

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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Shake up of IC TOP 10

November 16, 2020 by

A raft of company results was unleased on the Jamaican Stock Exchange, resulting in changes to the IC TOP 10. Some companies have not yet recovered sufficiently from the fall out following the COVID-19 outbreak earlier this year.

Fontana Waterloo Square Branch just after it was opened in October 2019.

Entering the Junior Markets Top10 are Access Financial and Fontana. Moving out are General Accident and Stationery and Office Supplies, both of which reported lower than expected profits for the September quarter and year to date. NCB Financial dropped out of the Main Market TOP 10 with full-year earnings coming in at $8.01 as the group stepped up the provisioning of expected credit losses. Eppley moved into the spot left vacant by NCB.
The Main Market closed the past week with notable gains in the market index while the Junior Market slipped modestly at the end of the week. Signals in the market continue to point to higher prices ahead. The Junior Market is currently signaling a big surge starting in December as short-term moving averages cross over longer-term ones to confirm a strong rally ahead. The move in the Main Market continues the move gradually higher ahead of the year-end and is in keeping with bullish signs that points to more gains ahead.
This week’s focus: Fontana had a 21 percent increase in revenues for the quarter ending September to $1.11 billion, over $921 million in the 2019 corresponding quarter. Gross profit also increased 25 percent to $395 million above $316 million generated in the September 2019 quarter. Administrative selling and other expenses grew modestly by 4.5 percent from $296 million to $310 million, even as the company benefited from economies of scale with the Waterloo Square location. Net profits increased to $45 million, a 146 percent improvement from the $18 million recorded in the prior year, with foreign exchange losses adding $27 million to finance cost in the 2020 quarter. The company is on target to earn 50 cents per share for the current financial year ending June 2021.
The top three stocks in Junior Market remain as they were this past week, with the potential to gain between 233 to 465 percent by March 2021. Caribbean Producers heads the list, followed by Elite Diagnostic and Limber Depot. The focus on all three is on the 2021 fiscal year profit, projected to recover from reduced profit for the 2020 financial year. With expected gains of 168 to 238 percent, the top three Main Market stocks are now, Berger Paints followed by JMMB Group and Radio Jamaica in the third position.
The local stock market’s targeted average PE ratio is 20 based on the 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 15.8 and the Junior Market 13.2, 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 7.1 at just 54 percent to the Junior Market average. The Main Market TOP 10 stocks trade at a PE of 8.7 or 55 percent of the PE of that market.
The average projected gain for the Junior Market IC TOP 10 stocks is 210 percent and 136 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: , , , , , , , , , , , , , , , , , , , , , , , , , ,

More money chased JSE Main Market stocks

November 13, 2020 by

Investors expended 56 percent more money from a moderately lower volume of stocks than Thursday on the Jamaica Stock Exchange Main Market trading on Friday. The market declining after prices of 13 stocks rose, 18 declined and 10 remained unchanged.
At the close, the All Jamaican Composite Index shed 1,633.76 points to 414,251.62, the Main Index declined by 1,510.85 points to 377,828.83 and the JSE Financial Index slipped just 0.01 point to settle at 99.37. The average PE Ratio ended at 15.4 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed, with 41 securities changing hands compared to 40 on Thursday, resulting in an exchange of 12,184,860 shares for $359,160,713 compared to 12,814,652 units at $230,585,736 on Thursday. JMMB Group led trading with 25.1 percent of total volume after an exchange of 3.06 million shares, followed by Kingston Wharves with 24.6 percent or 3 million units, Wigton Windfarm with 12 percent for 1.46 million units and Grace Kennedy with 11.9 percent after closing with 1.44 million shares changing hands.
Trading ended with an average of 297,192 units changing hands at $8,760,017 for each security, versus an average of 320,366 shares at $5,764,643 on Thursday. The average trade for the month to date ended at 263,467 units at $4,232,434 for each security, in contrast to 259,799 units at $3,740,044 on Thursday. Trading month to date compares adversely to October’s average of 398,200 units at $4,622,532.
At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows six stocks ending with bids higher than their last selling prices and four with lower offers.
At the close of the market, Barita Investments gained $1.30 in closing at $85.30, in exchanging 42,500 shares, First Rock Capital rose 85 cents to end at $13.25, with the trading of 1,602 units, Jamaica Broilers fell $1.94 to close at $26.01, after the trading of 14,758 stock units. Kingston Wharves lost 35 cents to end at $48.40, with 3,002,991 shares changing hands, Mayberry Investments closed 59 cents lower at $5.50 after trading 10,311 units, MPC Caribbean Clean Energy dropped $5 in closing at $135 after clearing the market with 3,413 units. Palace Amusement declined $145.12 to end at $1,100.01, with 20 units crossing the exchange, Pan Jam Investment shed 51 cents to settle at $61 while trading 7,280 units, Portland JSX finished at $8, with a loss of 99 cents and 1,813 units trading. Proven Investments climbed $3.39 to $39.89 and finishing with an exchange of 38,609 shares, Sagicor Group fell $1 to $49 after 35,711 shares crossed the market, Scotia Group gained 40 cents to close at $48.15 trading 312,940 shares and Seprod ended 50 cents higher at $64, with an exchange of 12,704 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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

JSE Main Market on the rise

November 10, 2020 by

Following strong gains on Monday, the Jamaica Stock Exchange Main Market put in another solid performance on Tuesday, with the market rising after rising stocks were edged out by declining ones as investors exchanged 36 percent fewer shares than on Monday.
At the close, the All Jamaican Composite Index advanced 1,231.88 points to 413,032.64, the Main Index climbed 1,081.30 points to 376,773.39 and the JSE Financial Index lost 0.07 points to settle at 98.16.
Trading ended with 39 securities changing hands compared to 40 on Monday and closed with the prices of 13 stocks rising, 15 declining and 11 unchanged. The average PE Ratio ended at 15.4 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 7,825,111 shares for $108,303,727 compared to 12,225,817 units at $173,057,044 on Monday. Trading was led by QWI Investments, accounting for 29.8 percent of the volume, with 2.33 million shares, followed by Transjamaican Highway 23.5 percent, with 1.84 million units and Seprod with 10.6 percent or 831,954 shares.
Trading ended with an average of 200,644 units at $2,777,019 for each security, in comparison to an average of 305,645 shares at $4,326,426 on Monday. The average trade for November to date ends with 205,389 units at $3,287,944 for each security, in contrast to 206,115 units at $3,366,085. Trading month to date continues to compare adversely to October’s average of 398,200 units at $4,622,532.
At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows nine stocks ending with bids higher than their last selling prices and two with lower offers.
At the close of the market, Barita Investments fell $1 to $85, with investors swapping 185,409 shares, Berger Paints gained 44 cents to close at $11.85, with 1,300 units changing hands. First Rock Capital closed at $12.50, after losing $1.43 and trading 46,329 stock units, Jamaica Broilers climbed $2.79 to $27.94, with an exchange of 8,766 shares, Jamaica Producers gained 57 cents in closing at $21.75, with a transfer of 235,267 units. Jamaica Stock Exchange settled at $18.48, with gains of 67 cents after crossing the market with 11,465 stock units, Kingston Wharves declined $2.25 to $46.70, trading 532 units, Mayberry Jamaican Equities lost 42 cents to settle at $7.08, in trading 2,997 shares. MPC Caribbean Clean Energy gained $1.50 to $150, with 1,360 units changing hands, 138 Student Living rose 75 cents to $4.60, in exchanging 30 shares, Pan Jam Investment shed 95 cents and ended at $63, with 13,491 stock units crossing the exchange, Proven Investments gained 50 cents to close at $38.50, with investors swapping 20,539 stock units and Wisynco Group lost 50 cents to finish at $15, after exchanging 115,122 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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Main Market ends with healthy gains

November 9, 2020 by

Stock prices surged sharply on the Jamaica Stock Exchange Main Market ended, with the All Jamaican Composite Index jumping 7,638.87 points to 411,800.76, the Main Index shot up by 6,954.16 points to 375,692.09, while the JSE Financial Index gained 2.23 points to settle at 98.23.
Trading ended with 40 securities changing hands compared to 44 on Friday and closed with the prices of 16 stocks rising, 14 declining and 10 ending unchanged. The average PE Ratio ends at 15.4 based on ICInsider.com’s forecast of 2020-21 earnings.
Trading closed with an exchange of 12,225,817 shares changing hands for $173,057,044 compared to 12,817,056 units at $399,677,339 on Friday.
Wigton Windfarm led trading with 24.7 percent of the total volume of 3.02 million shares, followed by Sagicor Group at 22 percent with 2.69 million units and QWI Investments with 21.5 percent for 2.63 million shares and Carreras 8.4 percent with 1.03 million units.
Trading ended with an average of 305,645 units changing hands at $4,326,426 for each security, compared to an average of 291,297 shares at $9,083,576 on Friday. The average trade for the month to date ended at 206,115 units at $3,366,085 for each security, in contrast to 187,598 units at $3,187,417 to Friday. Trading month to date compares adversely to October’s average of 398,200 units at $4,622,532.
At the end of trading, the Investor’s Choice bid-offer indicator reading for the market 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 rose $1 in closing at $86, with 19,973 stock units passing through the market, Berger Paints shed 43 cents to end at $11.41 as investors swapped 40 units. Caribbean Cement advanced $1 to $53 in trading 14,772 stock units, Eppley gained $1 to settle at $19, with investors trading 10,065 units, First Rock Capital gained 73 cents trading 47,343 shares to close at $13.93. Jamaica Broilers fell $1.35 to $25.15, with an exchange of 219,898 shares, Jamaica Producers rose $1.58 to $21.18 trading 10,972 units, Jamaica Stock Exchange lost 64 cents to settle at $17.81, with 8,699 units crossing the market Kingston Wharves advanced $3.38 to $48.95, after clearing the market with 4,517 units, MPC Caribbean Clean Energy climbed $7.50 to settle at $148.50, in trading 100 units, 138 Student Living declined $1.04 to $3.85 after 9,491 units crossed the market, Proven Investments fell $1.80 to $38, in an exchange of 3,097 units. Sagicor Group climbed $6 to $48, with 2,694,651 shares changing hands, Seprod advanced $3.96 in closing at $63.96, with investors swapping 2,790 units and Supreme Ventures gained 50 cents exchanging 38,023 shares to close at $15.50.

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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Stationery & Office back in IC TOP 10

November 8, 2020 by

Stationery and Office Supplies returns to the Junior Market IC TOP 10 list for the first time since February last year as the stock price dropped to $4.55 and replaced Medical Disposables that reported a loss in the half-year, resulted in the downgrading of full year’s earnings and potential stock price movement.

Stationery & Office Supplies Head quarters

Medical Disposables earnings per share are now projected at 30 cents for the current year and 85 cents for the succeeding year and put the PE ratio at 14 times current-year earnings. As indicated last week, Lasco Financial was set to be a big winner for the past week, after the company reported outstanding second-quarter profit. The stock rose 23 percent to close the week at $2.60 after trading as high as $2.75 in the week. The price should move higher going forward, with likely earnings around 40 cents per share for the current fiscal year and a PE ratio of 6.5.
Signals in the market continue to point to higher prices ahead. The Junior Market is currently signaling a big surge in a few weeks as short-term moving averages cross over longer-term ones to confirm a strong rally ahead. The big move in the Main market seems a few months away, but signs are that the market should continue to move gradually higher ahead of the year-end.
This week’s focus: Grace Kennedy continues to enjoy a phenomenal year, with profit attributed to the company’s shareholders, rising 33 percent to $1.68 billion in the September quarter, from $1.26 billion for the third quarter in the previous year and grew 35 percent for the nine months to September, to just $4.4 billion from $3.27 billion the corresponding period in 2019. Taxation more than doubled in both periods, but profit before tax grew 49 percent in the third quarter to $2.79 billion and for the nine-months, it rose 51.5 percent to $7.3 billion. Earnings per share are $1.69 for the quarter and $4.47 for the nine months and should exceed $6 for the full year.
The top three stocks in Junior Market remain as they were this past week, with the potential to gain between 272 to 726 percent by March 2021. Caribbean Producers heads the list, followed by Caribbean Assurance Brokers and elite Diagnostic. The focus on all three is on the 2021 fiscal year profit, projected to recover from reduced profit for the 2020 financial year. With expected gains of 150 to 238 percent, the top three Main Market stocks are now, Berger Paints followed by JMMB Group and Grace Kennedy in the third position.
The local stock market’s targeted average PE ratio is 20 based on the 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 15.8 and the Junior Market 12.1, 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 6.5 at just 54 percent to the average of the Junior Market. The Main Market TOP 10 stocks trade at a PE of 8.3 or 52 percent of the PE of that market.
The average projected gain for the Junior Market IC TOP 10 stocks is 247 percent, and 147 percent for the JSE Main Market, based on 2020-21 earnings, indicating potentially greater gains 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 for most weeks. 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.

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JSE Main Market falls

November 6, 2020 by

More stocks rose on the Jamaica Stock Exchange Main Market on Friday. Still, the market declined after an exchange of 47 percent more shares, with the value rising 299 percent than on Thursday as Grace Kennedy traded over 6 million shares following the release of strong nine-month results.
At the close, the All Jamaican Composite Index dropped 2,132.01 points to 404,161.89, the Main Index fell by 1,989.11 points to 368,737.93 and the JSE Financial Index lost 0.05 points to settle at 96.00.
Trading ended with 44 securities changing hands compared to 39 on Thursday and closed with the prices of 19 stocks rising, 13 declining and 12 remaining unchanged. The average PE Ratio ended at 15.4 based on ICInsider.com’s forecast of 2020-21 earnings.
Trading closed with an exchange of 12,817,056 shares for $399,677,339 compared to 8,721,796 units at $100,130,455 on Thursday. Grace Kennedy led the market with 48.4 percent of total volume after trading 6.20 million shares, followed by Transjamaican Highway with 13.4 percent or 1.72 million units and QWI Investments with 10.8 percent and 1.39 million shares and Wisynco Group with 8.2 percent for 1.05 million units changing hands.
Trading ended with an average of 291,297 units changing hands at $9,083,576 for each security, compared to an average of 223,636 shares at $2,567,448 on Thursday. The average trade for the month to date ended at 187,598 units at $3,187,417 for each security, in contrast to 160,915 units at $1,670,277 on Thursday. Trading month to date compares adversely to October’s average of 398,200 units at $4,622,532.
At the end of trading, the Investor’s Choice bid-offer indicator reading for the market shows nine stocks ending with bids higher than their last selling prices and four with lower offers.
At the close of the market, Barita Investments climbed $2 to end at $85, after crossing the market with 94,707 shares, Caribbean Cement fell by $2.20 to $52, with an exchange of 1,809 units, Eppley gained 65 cents in closing at $18 trading 3,976 units. Eppley Caribbean Property Fund dropped $1.50 to settle at $39.50, with 1,851 units changing hands, First Rock Capital shed 60 cents with an exchange of 105,982 shares and closed at $13.20, Jamaica Broilers lost 50 cents trading 42,059 stock units to settle at $26.50. Jamaica Producers declined by $1.40 to close at $19.60, with 2,689 units passing through the market, Jamaica Stock Exchange gained 85 cents in closing at $18.45, in exchanging 1,200 units, JMMB Group climbed $1.85 to end at $31.90, in trading 34,829 shares. MPC Caribbean Clean Energy dropped $9 to close at $141, in exchanging100 units, NCB Financial finished at $133.90, with gains of 30 cents after an exchange of 22,786 stock units, PanJam Investment rose 95 cents to end at $63.95, with the trading of 632 units. Portland JSX lost 97 cents ending at $8.99, with a transfer of 36,015 stock units, Proven Investments advanced $4.80 to settle at $39.80, with 3,440 stock units crossing the exchange, Sagicor Group fell $2 to end at $42 and clearing the market with 13,510 units. Scotia Group rose 80 cents in closing at $45, with an exchange of 3,820 units, Seprod declined by $4 to end at $60, with 17,581 stock units passing through the market, Stanley Motta gained 85 cents to settle at $5.50, after exchanging 107 units and Victoria Mutual Investments lost 40 cents to close at $5.35 after trading 26,384 stock units.

In the preference segment, JMMB Group 7% gained 31 cents to close at $1.65 after exchanging 603 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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,