The Junior Market of the Jamaica Stock Exchange bounced on Thursday and clawed back a big portion of Wednesday’s loss even as declining stocks outpaced those rising nearly two to one following trading in 39 securities compared with 42 on Wednesday and ended 
with prices of just 11 rising, 20 falling and eight unchanged following 15 percent drop in the volume of stocks traded with the value 20 percent less than on Wednesday.
Investors traded 7,562,096 shares for $16,067,740 compared with 8,848,848 units at $20,102,884 on Wednesday.
Trading averaged 193,900 shares at $411,993, down from 210,687 shares at $478,640 on Wednesday with the month to date, averaging 233,148 units at $485,413 compared with 245,013 stock units at $507,609 on the previous day. September closed with an average of 220,239 units at $459,425.
One Great Studio led trading with 3.32 million shares for 43.9 percent of total volume followed by 
Jamaican Teas with 1.65 million units for 21.8 percent of the day’s trade and Lasco Distributors with 708,090 units for 9.4 percent market share.
At the close, the Junior Market Index jumped on Thursday to recover 43.90 points of the 79 drop on Wednesday to end at 3,863.19.
The Junior Market ended trading with an average PE Ratio of 10.8, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Access Financial gained 44 cents to end at $24 with a mere 10 shares clearing the market, Blue Power skidded 20 cents to $2.70 after exchanging 3,770 stocks, CAC 2000 lost 54 cents to close at $3.81, with 81 stock units changing hands. 
Consolidated Bakeries dipped 25 cents and ended at $2.03 after a transfer of 9,451 units, Derrimon Trading dropped 10 cents in closing at $1.80, with 110,495 shares crossing the market, Dolphin Cove declined 19 cents to close trading at $16.15 with stakeholders exchanging 7,884 stocks. Fontana popped 47 cents in closing at $11.21 in switching ownership of 150,719 units, Fosrich shed 10 cents to close at $2.30 after facilitating trading of 100,964 stock units, Future Energy fell 27 cents to end at $3.38 with investors dealing in 195,646 shares. Honey Bun lost 41 cents and ended at $6.36 in an exchange of 2,523 stocks, ISP Finance rose $8.50 to end at $44 with traders dealing in 200 stock units, Lasco Distributors dropped 10 cents to close at $4.15 in an exchange of 708,090 units. 
Lasco Manufacturing shed 16 cents in closing at $4.99, following 28,710 stocks crossing the exchange and MFS Capital Partners rallied 39 cents and ended at $2.39 with shareholders swapping 122,659 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market in steep plunge
The Junior Market of the Jamaica Stock Exchange closed sharply lower on Wednesday, following trading 42 securities compared with 44 on Tuesday and ended with 20 rising, 15 declining and seven closing unchanged with a 20 percent rise in the volume of stocks traded and 36 percent more value than Tuesday.
Investors traded 8,848,848 shares at $20,102,884 compared with 7,403,059 units at $14,802,391 on Tuesday.
Trading averaged 210,687 shares at $478,640, compared to 168,251 units at $336,418 on Tuesday, with the month to date, averaging 245,013 units at $507,609 compared with 261,585 stock units at $521,594 on the previous day. September closed with an average of 220,239 units at $459,425.
Mailpac Group led trading with 3.04 million shares for 34.4 percent of total volume followed by Jamaican Teas with 2.77 million units for 31.3 percent of the day’s trade and Dolla Financial with 915,854 units for 10.3 percent market share.
At the close, the Junior Market Index dropped 79.03 points to finish at 3,819.29.
The Junior Market ended trading with an average PE Ratio of 10.8, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Access Financial declined $1.83 to $23.56, with 875 shares crossing the exchange, Caribbean Cream shed 10 cents and ended at $4 after exchanging 313 stock units, Caribbean Flavours rose 16 cents to end at $1.46 after an exchange of 27,008 stocks, Derrimon Trading skidded 10 cents to $1.90 with shareholders swapping 1,764 units. 
Dolla Financial increased 11 cents to close at $2.25 in an exchange of 915,854 stock units, Dolphin Cove popped 33 cents to end at $16.34, with 522 units changing hands, Fontana dipped 25 cents and ended at $10.74 with 42,597 stocks clearing the market, Honey Bun rallied 42 cents in closing at $6.77 after 600 shares changed hands. Indies Pharma lost 34 cents to end at $2.80 and closed with 12,314 units being traded, ISP Finance jumped $5.50 to close at $35.50 while exchanging 4,492 stock units, Jamaican Teas climbed 22 cents to end at $2.33 with investors transferring 2,767,534 shares, Knutsford Express gained 50 cents to close at $12.50 with stakeholders exchanging 22,724 stocks. Mailpac Group climbed 14 cents and ended at $2 with an exchange of 3,042,059 units, Main Event advanced 99 cents to $15.99 with a transfer of 1,282 stock units, 
MFS Capital Partners fell 50 cents in closing at $2 as 268,537 stocks passed through the market, Paramount Trading dropped 25 cents to close at $1.74 in switching ownership of 2,119 shares and tTech popped 24 cents to $2.45 after a transfer of 6 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading drops on the Junior Market
Trading closed on the Junior Market of the Jamaica Stock Exchange Tuesday, with the volume and value of stocks traded declining 52 percent respectively compared with Monday with trading in 44 securities compared with 43 on Monday and ended with 19 rising, 16 declining and nine closing unchanged.
Investors traded 7,403,059 shares for $14,802,391 down from 15,354,831 units at $30,576,301 on Monday.
Trading averaged 168,251 shares at $336,418, compared with 357,089 shares at $711,077 on Monday with the month to date, averaging 261,585 units at $521,594 compared to September with an average of 220,239 units at $459,425.
Dolla Financial led trading with 2.97 million shares for 40.1 percent of total volume followed by One Great Studio with 2.63 million units for 35.5 percent of the day’s trade and Mailpac Group with 360,221 units for 4.9 percent market share.
At the close, the Junior Market Index fell 9.14 points to finish at 3,898.32.
The Junior Market ended trading with an average PE Ratio of 10.6, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows no stock ended with a bid higher than the last selling price and three with lower offers.
At the close, Access Financial rallied $2.30 to $25.39 with stakeholders exchanging 4,590 shares, Caribbean Assurance Brokers popped 10 cents and ended at $3.30 in an exchange of 1,020 units, Consolidated Bakeries fell 8 cents to end at $2.28 in an exchange of 83 stock units, Everything Fresh declined 15 cents to $1.55 as investors exchanged 1,500 stocks. 
Express Catering advanced 17 cents to close at $4.77 with 6,424 stock units being traded, Fontana rose 34 cents to close at $10.99 with traders dealing in 42,106 units, Fosrich lost 11 cents to end at $2.35 after an exchange of 42,990 stocks, Future Energy climbed 15 cents and ended at $3.65, with 149,465 shares crossing the exchange. Honey Bun shed 44 cents to $6.35 with a transfer of 10,145 stock units, Indies Pharma gained 14 cents in closing at $3.14 after 1,002 stocks passed through the market, ISP Finance dipped $3.97 in closing at $30 after an exchange of 889 shares, Knutsford Express skidded 50 cents to $12, with 59,372 units changing hands. Lumber Depot increased 15 cents to end at $2.45 after 107,100 stocks crossed the market, Main Event increased $1.50 to close at $15 after trading of 60,400 units, 
MFS Capital Partners climbed 41 cents and ended at $2.50 with investors dealing in 129,159 shares and Tropical Battery popped 8 cents to end at $1.93 in switching ownership of 54,234 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
9 Junior Market stocks fall for 2 rising
Prices pulled back in trading on the Junior Market of the Jamaica Stock Exchange on Monday, following trading in 43 securities compared with 42 on Friday and ended with prices of just seven rising, 31 declining and five closing unchanged with the volume of stocks traded declining 41 percent and the value 55 percent lower than Friday.
Investors traded 15,354,831 shares at $30,576,301 versus 25,966,253 units at $67,322,180 on Friday.
Trading averaged 357,089 shares at $711,077 compared with 618,244 stocks at $1,602,909 on Friday, over September with an average of 220,239 units at $459,425.
One Great Studio led trading with 3.51 million shares for 22.9 percent of total volume followed by Mailpac Group with 3.51 million units for 22.8 percent of the day’s trade, Spur Tree Spices ended with 2.50 million units for 16.3 percent share of the market and ONE on ONE Educational with 1.03 million units for 6.7 percent of the total volume.
At the close, the Market Index dropped 51.88 points to settle at 3,907.46.
The Junior Market ended trading with an average PE Ratio of 10.7, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and four with lower offers.
At the close, Access Financial shed $2.41 and ended at $23.09 as investors exchanged 605 shares, Caribbean Assurance Brokers dipped 18 cents to $3.20 with stakeholders exchanging 125,354 stock units, Derrimon Trading dropped 19 cents to close at $2.01 with traders dealing in 3,216 units. Dolla Financial skidded 12 cents in closing at $2.16 with 915,105 stocks changing hands, Dolphin Cove lost 34 cents to end at $16 with investors transferring 49,710 stock units, Fosrich declined 44 cents in closing at $2.46 after an exchange of 31,971 shares. Future Energy fell 50 cents to close at $3.50 after a transfer of 974,341 stocks, Image Plus dropped 10 cents and ended at $2.07 as 85,359 units passed through the market, 
Indies Pharma declined 15 cents to end at $3 after an exchange of 11,493 units. JFP Ltd fell 10 cents to $1.50 in trading 319,270 stocks, Knutsford Express dipped 8 cents and ended at $12.50 with investors dealing in 8,814 stock units, Lumber Depot lost 24 cents to end at $2.30 in an exchange of 21,555 shares. Main Event shed 67 cents to close at $13.50 while exchanging 5,000 stock units, ONE on ONE Educational skidded 14 cents in closing at $1.01 after the swapping of 1,028,049 units, Regency Petroleum fell 37 cents to $2.10 with a transfer of 319,239 shares. Spur Tree Spices dipped 10 cents in closing at $2.15, with 2,500,252 stocks crossing the market, 
Tropical Battery dropped 13 cents to end at $1.85 with shareholders swapping 74,586 stock units and tTech shed 27 cents to $2.21 after an exchange of 200 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
4 changes to ICTOP10 stocks
In a week with four changes to the ICTOP10 stock listings, the select list of stocks racked up some impressive gains to close out the past week and the ninth month of the year, following solid gains during the week for the Jamaica Stock Exchange Junior and the Main Market. Junior Market rose more than 150 points and rose above the August close, while the Main Market index jumped 14,765 points for the week and the All Jamaica Index is up 12,156 points with both up modestly over the August close.
Top performing stock in the past week.
Coming into the Junior Market TOP10 are Lasco Financial, Dolphin Cove and Lasco Distributors, as Everything Fresh, General Accident and iCreate dropped out. General Accident replaced Caribbean Cement that fell out of the Main Market TOP10.
The Main Market closed the week with Caribbean Cement jumping 16 percent to close at $56.80, Guardian Holdings ran up 14 percent to close the week at $506.60, followed by a 10 percent increase in Jamaica Broilers to $34 and a 6 percent rise in JMMB Group to $29, all other price changes were 4 percent or less.
The Junior Market saw Everything Fresh jumping 28 percent to $1.75, followed by Caribbean Assurance Brokers leaping 20 percent to $3.38 as supply of the stock below this price has dried up and One-On-One Educational Services and General Accident are up a notable 15 percent to $1.15 and $6 respectively and finally, Image Plus rose 7 percent to $2.17.
Caribbean Producers reported full year earnings to June of J$0.90 per share, excluding one off item. ICInsider.com projects earnings of $1.70 for the current year, pushing the stock jumps to 6th position in the top 10 to number 7 on the list.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 4.9, well below the market average of 12.4. The Main Market TOP10 is projected to gain an average of 330 percent, by May 2024, based on 2023 forecasted earnings.
A total of 15 of the most highly valued stocks representing 23 percent of the Main Market are priced with a PE of 15 to 109, with an average of 29 and 19 excluding the highest PE ratios, with a PE of 23 for the top half and 16 excluding the stocks with the over weighted valuations.
The PE of the Junior Market Top 10 sits at 5.7 just half of the market at 11.2. There are 13 stocks or 27 percent of the market, with PEs from 15 to 28, averaging 19 that are well above the market’s average. The top half of the market has an average PE of 15, possibly the lowest fair value for Junior Market stocks currently and is projected to rise by 255 percent down from 288 percent last week by May 2024.
The divergence between the average PE of the Main and Junior Markets and the overall market valuation are important indicators of the level of likely gains for ICTOP10 stocks.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market but not always. 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 are likely to deliver the best returns up to the end of 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.
Blast off for the Junior Market
On a day of mostly rising prices trading surged on the Junior Market of the Jamaica Stock Exchange on Friday, leading the Market Index to blast off by 112.67 points to close up at 3,959.34.with a 193 percent jump in the volume of stocks traded following a 253 percent jump in value exchanged compared to market activity on Thursday after trading took place in 42 securities compared with 41 on Thursday and ended with 25 rising, six declining and 11 closing unchanged.
Investors traded 25,966,253 shares for $67,322,180 compared with 8,864,793 units at $19,070,025 on Thursday.
Trading averaged 618,244 shares at $1,602,909 compared with 216,214 shares at $465,123 on Thursday with the month to date, averaging 215,926 units at $451,974 compared to 199,525 stock units at $399,913 on the previous day. August closed with an average of 195,469 units at $393,452.
Several stocks traded more than 1 million shares at the close of the market, with Future Energy Source leading trading with 5.58 million shares for 21.5 percent of the total volume followed by JFP Ltd with 4.93 million units for 19 percent of the day’s trade, Spur Tree Spices followed with 3.26 million units for 12.5 percent market share, Fosrich chipped in with 2.31 million units for 8.9 percent of trading, Lasco Distributors with 1.80 million units for 6.9 percent share and Image Plus Consultants with 1.50 million units for 5.8 percent of total volume.
The Junior Market ended trading with an average PE Ratio of 11.1, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Caribbean Assurance Brokers rallied 40 cents in closing at $3.38 as investors exchanged 6,300 shares, Derrimon Trading advanced 20 cents and ended at $2.20, with 711,597 stocks changing hands, Everything Fresh rose 16 cents to $1.75 after an exchange of 472,368 units, Express Catering fell 15 cents to close at $4.60 with an exchange of 18,654 stock units. Fontana increased 18 cents to end at $10.58 with stakeholders exchanging 14,468 stock units, Fosrich popped 51 cents in closing at $2.90 in switching ownership of 2,311,932 shares, Future Energy Source climbed 11 cents to end at $4 with a transfer of 5,580,078 units, Image Plus Consultants gained 17 cents and ended at $2.17 after 1,503,000 stocks passed through the market.
Indies Pharma increased 25 cents to close at $3.15 in an exchange of 49,771 stocks, Knutsford Express jumped $2.58 to $12.58 in trading 111,177 shares, Lumber Depot popped 14 cents in closing at $2.54, with 501,810 units clearing the market, Medical Disposables advanced 22 cents to $4.20 and closed with 100 stock units changing hands. MFS Capital Partners rallied 8 cents to end at $2.08 after trading 42,802 stocks, ONE on ONE Educational gained 14 cents to close at $1.15, with 787,025 stock units crossing the market, Paramount Trading rose 26 cents to $1.99 with an exchange 507 shares, Regency Petroleum rose 14 cents to $2.47 with shareholders swapping 612,662 units. 
Spur Tree Spices gained 8 cents in closing at $2.25, with 3,256,747 shares crossing the market, Stationery and Office Supplies popped 13 cents to end at $1.90 in an exchange of 437,808 stock units and tTech climbed 28 cents and ended at $2.48 with investors dealing in 100 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Rising stocks outpaced Junior Market decliners
Trading fell on the Junior Market of the Jamaica Stock Exchange on Thursday, from Wednesday levels with a 27 percent drop in the volume of stocks traded while the value plunged 50 percent following trading in 41 securities compared with 43 on Wednesday and ended with prices of 20 rising, 10 declining and 11 closing unchanged.
Investors traded 8,864,793 shares for $19,070,025 compared with 12,103,115 units at $37,867,619 on Wednesday.
Trading averaged 216,214 shares at $465,123 compared to 281,468 shares at $880,642 on Wednesday with the month to date, averaging 195,469 units at $393,452 compared with 194,385 stock units at $389,709 on the previous day. August closed with an average of 183,001 units at $460,354.
One Great Studio led trading with 2.03 million shares for 22.9 percent of total volume followed by Future Energy Source with 1.63 million units for 18.4 percent of the day’s trade and Image Plus Consultants with 1.42 million units for 16 percent of the day’s trade.
At the close, the Junior Market Index increased 11.60 points to 3,846.67.
The Junior Market ended trading with an average PE Ratio of 10.4 based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Cargo Handlers increased 80 cents to end at $14.50 after investors traded 640 shares, Caribbean Assurance Brokers rallied 10 cents to end at $2.98 with stakeholders exchanging 22,534 stocks, Dolphin Cove rose 34 cents to close at $16.34 after 863 stock units passed through the market, EduFocal popped 9 cents to $1.39 in an exchange of 1,235 units. Express Catering rose 10 cents in closing at $4.75, with 26,518 units crossing the exchange, Fosrich advanced 32 cents and ended at $2.39, with 491,784 stocks clearing the market, Future Energy Source gained 35 cents to $3.89 with traders dealing in 1,630,311 shares, Honey Bun rose 9 cents to close at $6.77 after 281 stock units changed hands. Image Plus Consultants shed 10 cents to end at $2 after a transfer of 1,417,977 stocks, 
Iron Rock Insurance climbed 20 cents in closing at $2.20, after 8 units crossed the market, KLE Group gained 20 cents to end at $1.70 with investors transferring 10,000 shares, Lasco Distributors dipped 8 cents to close at $4.25 with shareholders swapping 20,285 stock units. Lumber Depot popped 10 cents in closing at $2.40 after an exchange of 182,697 units, Main Event rallied $1.14 to $14.18 after 200 stock units changed hands, ONE on ONE Educational fell 9 cents and ended at $1.01 with a transfer of 13,062 stocks. Regency Petroleum gained 13 cents to land at $2.33 after investors exchanged 340,367 shares, Spur Tree Spices advanced 12 cents and ended at $2.17 in an exchange of 760,398 units, 
Tropical Battery popped 7 cents in closing at $1.92 with 13,850 stocks crossing the market and tTech declined 15 cents to end at $2.20, with 100 shares changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market rise on reduced trades
Trading dropped on the Junior Market of the Jamaica Stock Exchange on Tuesday, with the volume of stocks traded declining 45 percent and the value 43 percent compared with Monday with trading in just 35 securities down from 46 on Monday and ended with 14 rising, 12 declining and nine closing unchanged, with the market index advancing 16.05 points to close over the 3,800 handle at 3,805.46.
Investors traded 3,917,931 shares for $8,601,957 compared with 7,109,987 units at $15,074,419 on Monday.
Trading averaged 111,941 shares at $245,770 in contrast 154,565 shares at $327,705 on Monday with the month to date, averaging 189,339 units at $361,258 down from 193,170 stock units at $366,976 on the prior day. August closed with an average of 183,001 units at $460,354.
One Great Studio led trading with 959,311 shares for 24.5 percent of total volume followed by Jamaican Teas with 673,809 units for 17.2 percent of the day’s trade and Dolla Financial with 439,149 units for 11.2 percent market share.
The Junior Market ended trading with an average PE Ratio of 10.3, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Access Financial dipped 17 cents and ended at $25 after a mere two shares crossed the market, AMG Packaging dropped 22 cents to $2.27, with 6,208 stock units crossing the exchange, Fosrich declined 12 cents in closing at $2.18 in an exchange of 6,375 stocks. Future Energy Source climbed 15 cents to close at $3.45 with shareholders swapping 303,596 units, General Accident skidded 11 cents to end at $5.09 in switching ownership of 80,652 units, Honey Bun shed 73 cents in closing at $6.06 after trading 13,000 stocks. 
ISP Finance fell $1 to close at $34 with stakeholders exchanging 1,160 shares, Lasco Manufacturing popped 20 cents and ended at $5.40 after 28,848 stock units were traded, Limners and Bards gained 6 cents to $1.78, with 5,448 stock units crossing the market. Main Event lost $1.18 to end at $13.05 with 49,938 shares clearing the market, MFS Capital Partners increased 10 cents in closing at $2.10 with a transfer of 186,310 units, One Great Studio fell 5 cents to $1.10 in an exchange of 959,311 stocks.
Regency Petroleum rallied 10 cents to end at $2.20 with an exchange of 130,110 units and 
Spur Tree Spices rose 8 cents and ended at $2.18 after an exchange of 284,112 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading up Junior Market prices down
Trading closed on the Junior Market of the Jamaica Stock Exchange Monday, with the volume of stocks traded rising 7 percent and the value 15 percent more than on Friday after trading took place in 46 securities compared with 44 on Friday and ended with 12 rising, 20 declining and 14 closing unchanged on a day that closed with the market index falling.
Investors traded 7,109,987 shares for $15,074,419 compared with 6,672,237 units at $13,058,494 on Friday.
Trading averaged 154,565 shares at $327,705 up from 151,642 shares at $296,784 on Friday with the month to date, averaging 193,170 units at $366,976 compared to 195,857 stock units at $369,709 on the previous day compared to August with an average of 183,001 units at $460,354.
One Great Studio led trading with 2.69 million shares for 37.9 percent of total volume followed by Dolla Financial with 1.19 million units for 16.7 percent of the day’s trade and Mailpac Group with 643,319 units for 9 percent market share.
At the close, the Junior Market Index fell 20.18 points to conclude trading at 3,789.41.
The Junior Market ended trading with an average PE Ratio of 10.3, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending between November 2023 and 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 rose 17 cents and ended at $25.17 in trading 1,033 shares, Derrimon Trading rallied 10 cents in closing at $2, with 28,280 stocks clearing the market, 
Future Energy Source fell 15 cents to end at $3.30 with investors dealing in 134,078 units. Indies Pharma advanced 14 cents to $2.90 in an exchange of 5,209 stock units, Iron Rock Insurance dropped 20 cents to close trading at $2 with investors swapping 50 stocks, Jamaican Teas lost 7 cents to close at $2 with an exchange of 59,546 stock units. Lasco Manufacturing dipped 11 cents in closing at $5.20 as investors exchanged 500,460 units, Main Event declined 23 cents to $14.23 after 2,266 shares crossed the market, Medical Disposables shed 39 cents and ended at at a 52 weeks’ low of $3.81, with 5,020 shares crossing the exchange.
Tropical Battery skidded 10 cents to end at $1.90, with 3,000 stock units changing hands and tTech declined 13 cents to close at $2.35 after a transfer of 87,848 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Solid gains for ICTOP10 stocks
The ICTOP10 stocks racked up some solid gains to close out the past week, even as the Jamaica Stock Exchange Junior and the Main Market that suffered losses last week declined further this past week.
The Main Market had just two stocks with notable price changes this past week, with Scotia Group jumping 13 percent to $34 and Key Insurance slipping 8 percent to close the week at $2.55. There were more changes of note in the Junior Market ICTOP10 that closed the week with a 15 percent rise in General Accident Insurance to $5.24, the price of Elite Diagnostic rose 11 percent to $1.79 and Iron Rock Insurance gained 5 percent to end at $2.20. Image Plus with a 4 percent loss to $2.02, was the only declining stock of note.
Earnings for Margaritaville was adjusted to $3.10 for the current fiscal year ending May 2024, placing the stock at number 5 on the list.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5, well below the market average of 12.2. The Main Market TOP10 is projected to gain an average of 298 percent, to May 2024, based on 2023 forecasted earnings.
A total of 11 of the most highly valued stocks representing 23 percent of the Main Market are priced with a PE of 16 to 84, with an average of 31 and 21 excluding the highest PE ratios, with a PE of 21 for the top half and 17 excluding the stocks with the over weighted valuations.
The PE of the Junior Market Top 10 sits at 5.2 just half of the market at 10.4. There are 10 stocks or 26 percent of the market, with PEs from 15 to 29, averaging 19 that are well above the market’s average. The top half of the market has an average PE of 15, possibly the lowest fair value for Junior Market stocks currently, and projected to rise by 288 percent to May 2024.
The divergence between the average PE of the Main and Junior Markets and the overall market valuation are important indicators of the level of likely gains for ICTOP10 stocks.
The markets are not in a bullish state but there continue to be cases of slow upward movements in some prices as investors respond to some recent results leading them to quietly nibble away at the supplies of a number of stocks on offer and paving the way for price appreciation ahead. The list includes stocks such as Access Financial, AMG Packaging, Everything Fresh, Dolphin Cove, Caribbean Cream, Caribbean Assurance Brokers, Lasco Distributors, Lasco Manufacturing and Transjamaican Highway.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market but not always. 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 are likely to deliver the best returns up to the end of 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 changes 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.
