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.
A total of 44 securities were traded compared to 45 on Thursday with market activity ending with prices of 20 rising, 15 declining and nine closing unchanged.
At the close, AMG Packaging rallied 21 cents to $2.49 after 18,873 shares passed through the market, Blue Power advanced 15 cents to $2.65 in switching ownership of 10 units, CAC 2000 climbed 58 cents to end at $4.46 after an exchange of 15 stocks, Cargo Handlers lost 45 cents to close at $14.50, with 5,095 stock units crossing the market. Caribbean Cream climbed 58 cents to $4.10 in trading 300 stocks, Caribbean Flavours popped 8 cents to end at $1.30 with investors transferring 41,968 units, Consolidated Bakeries shed 29 cents to close at $2.10 after a transfer of 200 shares, Derrimon Trading dropped 10 cents and ended at $1.90 in an exchange of 1,640,776 stocks. Dolla Financial dipped 11 cents in closing at $2.16 in trading of 766,933 stocks, Dolphin Cove rose 49 cents to $16.49, with 5,790 shares crossing the exchange, EduFocal gained 5 cents to end at $1.39 with shareholders swapping 69,976 units, Fontana rose 10 cents to close at $10.40 after exchanging 40,779 stock units. Fosrich skidded 11 cents in closing at $2.24 after trading 51,522 stock units, Future Energy Source gained 14 cents to $3.45 with investors dealing in 166,158 shares, 
Honey Bun popped 50 cents and ended at $6.80 as investors exchanged 1,160 stocks, Indies Pharma fell 14 cents to end at $2.76, with 4,475 units crossing the market. ISP Finance dropped $9.93 to close at $35 with 4,999 shares changing hands, Jamaican Teas advanced 7 cents and ended at $2.07 while exchanging 9,447 stock units, JFP Ltd dipped 5 cents to close at $1.50 after investors traded 38,548 units, Knutsford Express rose 5 cents in closing at $11.35 with a transfer of 18,570 stocks. Lasco Distributors rallied 10 cents and ended at $4.30 with traders dealing in 50 stocks, Lasco Manufacturing skidded 9 cents in closing at $5.31 with stakeholders exchanging 387 shares, Lumber Depot increased 14 cents to close at $2.24 with 684,872 stock units clearing the market, MFS Capital Partners rose 5 cents to $2.05 with an exchange of 29,459 units. 
One Great Studio shed 7 cents to end at $1.20 with investors transferring 1,889,355 units, Regency Petroleum increased 5 cents in closing at $2.15 after an exchange of 260,408 shares, Spur Tree Spices advanced 10 cents and ended at $2.10 with a transfer of 117,165 stocks and Stationery and Office Supplies popped 10 cents to end at $1.70 while exchanging 354,221 stock units.
Investors traded 21,011,494 shares for $31,863,579 versus 26,192,370 units at $36,308,731 on Wednesday.
At the close, Blue Power dipped 15 cents and ended at $2.50 after an exchange of 446,997 shares, Cargo Handlers shed $1.25 to $14.95, with 1,131 stock units crossing the exchange, Caribbean Cream declined 55 cents to close at $3.52 in switching ownership of 4,153 stocks, Derrimon Trading rebounded by 50 cents to $2 in an exchange of 728,866 units. Dolla Financial rose 7 cents in closing at $2.27 with investors trading 151,765 stock units, EduFocal popped 12 cents to $1.34 with an exchange of 4,706 units, Elite Diagnostic gained 16 cents and ended at $1.81 with shareholders swapping 2,611 stocks, Fontana fell 10 cents to $10.30, with 16,520 shares clearing the market. Fosrich advanced 26 cents to close at $2.35 after 1,637,218 units passed through the market, Future Energy Source rallied 6 cents in closing at $3.31 with a transfer of 125,086 stock units, General Accident increased 15 cents to close at $5.25 after trading in 41,060 shares, GWest Corporation advanced 6 cents and ended at $1.01 and closed with an exchange of 67,262 stocks. 
Honey Bun gained 30 cents to end at $6.30 after a transfer of 2,500 stocks, Iron Rock Insurance popped 20 cents to $2.20, with 2 stock units changing hands, ISP Finance climbed 93 cents in closing at $44.93 in trading 2 shares, JFP Ltd increased 11 cents to $1.55 after investors exchanged 14,796 units. Knutsford Express dropped 13 cents to $11.30 with trading in 25,269 stock units, Lasco Distributors lost 15 cents to close at $4.20 with an exchange of 199,870 shares, Lasco Manufacturing rallied 8 cents and ended at $5.40 with traders dealing in 18,650 units, Limners and Bards rose 7 cents to end at $1.75, with 5,670 stocks crossing the market. Lumber Depot climbed 10 cents and ended at $2.10 after 193,070 stock units crossed the market, One Great Studio advanced 9 cents to close at a record close of $1.27 with an exchange of 14,829,035 shares, Paramount Trading skidded 28 cents to $1.72 with stakeholders exchanging 5,500 stocks. 
Regency Petroleum fell 9 cents to end at $2.10 with investors transferring 150,094 units and Tropical Battery gained 10 cents in closing at $2 after 57,552 shares passed through the market.
One Great Studio led trading with 21.66 million shares for 82.7 percent of total volume followed by Derrimon Trading with 900,000 units for 3.4 percent of the day’s trade and Dolla Financial with 713,784 units for 2.7 percent market share.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and four with lower offers.
Honey Bun declined 45 cents to $6 in an exchange of 164,387 units, Iron Rock Insurance dipped 10 cents to close at $2 with stakeholders exchanging 2,509 stocks. ISP Finance dipped 95 cents and ended at $44. With investors trading 97 stock units, Jamaican Teas rallied 20 cents to end at $2 after 4,917 stocks crossed the market, JFP Ltd declined 6 cents in closing at $1.44 after an exchange of 51,048 shares, Knutsford Express gained 43 cents to close at $11.43 with shareholders swapping 314 units. Lasco Manufacturing gained 12 cents to $5.32 in an exchange of 1,229 shares, Limners and Bards lost 10 cents in closing at $1.68, with 14,926 units crossing the exchange, Paramount Trading climbed 5 cents to end at $2 in trading 3,667 stocks. Spur Tree Spices fell 12 cents and ended at $2.02 with traders dealing in 67,664 stock units, 
Stationery and Office Supplies shed 7 cents to end at $1.58 after a transfer of 426,793 stock units and Tropical Battery dropped 10 cents to $1.90, with 30,221 shares changing hands.
Investors traded 17,126,215 shares for $21,864,015 versus 4,843,898 units at $11,250,151 on Monday.
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.
Honey Bun skidded 5 cents and ended at $6.45 while trading 14,285 shares, Indies Pharma fell 8 cents to close at $2.90 with stakeholders exchanging 23,822 stock units. Jamaican Teas lost 20 cents to end at a 52 weeks’ low of $1.80 after an exchange of 11,239 stock units, JFP Ltd declined 7 cents to $1.50 as investors exchanged 13,416 shares, KLE Group fell 5 cents to $1.50 with 50 stocks changing hands, Knutsford Express skidded 45 cents to end at $11 with a transfer of 1,737 units. Main Event shed 49 cents and ended at $14.50 with shareholders swapping 517 stock units, newly listed, One Great Studio rallied 14 cents to a record close of $1.14 after an exchange of 14,087,445 units and hitting a high of $1.29. Paramount Trading dropped 5 cents in closing at $1.95 after 100 stocks crossed the exchange, Regency Petroleum advanced 7 cents and ended at $2.20 in trading 171,249 shares, 
Stationery and Office Supplies dipped 9 cents to end at $1.65 and closed after 597,718 stocks were traded and Tropical Battery climbed 11 cents in closing at $2 with investors dealing in 185,951 stock units.
Investors exchanged 4,843,898 shares for $11,250,151 compared to 1,971,310 units at $4,610,291 on Friday.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and three with lower offers.
Jamaican Teas dropped 6 cents to close at $2 after 68,896 stocks changed hands, but only after hitting an intraday 52 week’s low of $1.75. Knutsford Express rose 20 cents in closing at $11.45 with investors transferring 2,061 stock units, Lasco Distributors shed 10 cents and ended at $4.35 with a transfer of 53,195 units, Lasco Manufacturing lost 5 cents to end at $5.20 after an exchange of 63,824 stock units, Limners and Bards increased 12 cents to $1.80 after 23,670 stocks passed through the market. Main Event fell 26 cents to end at $14.99 in switching ownership of 67,532 shares, MFS Capital Partners dipped 20 cents to $2 with investors exchanging 137,500 shares, Paramount Trading advanced 7 cents and ended at $2 while 500 stocks were treated.
Regency Petroleum declined 10 cents to close at $2.13 with an exchange of 791,364 stock units and Spur Tree Spices popped 8 cents in closing at $2.14 with 5,322 units being traded.
Developments in the past week, the Main Market, Key Insurance rose 11 percent to close the week at $2.77, followed by a 10 percent fall in 
A total of 12 of the most highly valued stocks representing 26 percent of the Main Market are priced with a PE of 15 to 84, with an average of 30 and 21 excluding the highest PE ratios, with a PE of 21 for the top half and 17 excluding the stocks with the highest PEs.
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.
Investors traded 1,971,310 shares for $4,610,291 versus 11,110,231 units at $23,817,408 on Thursday.
The Junior Market ended trading with an average PE Ratio of 10.7, based on the last traded price in conjunction with earnings projected by ICInsider.com for the financial years ending between November 2023 and August 2024.
JFP Ltd rose 17 cents in closing at $1.58 with investors trading in 22,394 units, Knutsford Express increased $1.01 in closing at $11.25 with an exchange of 34 stock units, Lasco Financial popped 15 cents and ended at $1.90 in switching ownership of 9,903 shares. Lumber Depot advanced 17 cents to close at $1.98, with 29,182 stocks changing hands, Main Event increased $1.06 to end at $15.25 after 10,538 stock units passed through the market, MFS Capital Partners rose 10 cents to $2.20 as investors exchanged 135,372 shares. Regency Petroleum climbed 8 cents to end at $2.23 with stakeholders trading 34,738 units, Stationery and Office Supplies skidded 7 cents to $1.71 after a transfer of 165,774 shares, 
Tropical Battery fell 10 cents and ended at $1.90 with a transfer of 100,109 stocks and tTech gained 13 cents in closing at $2.48 in an exchange of just one stock unit.
Investors traded 11,110,231 shares for $23,817,408 up from 3,026,858 units at $8,218,631 on Wednesday.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and one with a lower offer.
General Accident slipped 5 cents and ended at $4.85 with investors trading 112 stocks, Honey Bun popped 11 cents to close at $6.71 with shareholders swapping 314,857 shares, ISP Finance climbed 75 cents in closing at 52 weeks’ high of $44.95 with stakeholders exchanging 10 stock units. Knutsford Express fell $1.01 to $10.24 in switching ownership of 4,428 shares, Lasco Distributors popped 10 cents to $4.45 as investors exchanged 52,306 stocks, Lumber Depot lost 25 cents in closing at $1.81 with 418,304 units clearing the market. Main Event shed $1.31 and ended at $14.19 after an exchange of 5,868 shares, MFS Capital Partners shed 15 cents to end at a 52 weeks’ low of $2.10 after trading in 214,932 units, 
Paramount Trading lost 7 cents to close at $1.93 after a transfer of 26,357 stock units and Tropical Battery rose 10 cents and ended at $2 with traders dealing in 51,873 stocks.
that was not enough to quell the negative pull of 17 other stocks that declined as the volume of stocks traded was moderately higher and the value 24 percent greater than in trading on Tuesday.
Future Energy Source led trading with 744,736 shares for 24.6 percent of total volume followed by JFP Ltd with 600,551 units for 19.8 percent of the day’s trade and ONE on ONE Educational with 229,220 units for 7.6 percent market share.
EduFocal increased 21 cents to $1.46 with investors trading 145,666 stocks. Express Catering rallied 35 cents to close at $4.85, with 240 units crossing the market, Fosrich advanced 11 cents in closing at $2.04 with shareholders swapping 99,691 stock units, Future Energy Source fell 10 cents and ended at $3.30, with 744,736 stock units crossing the market. ISP Finance surged $10.20 to end at a 52 weeks’ high of $44.20 after investors traded 7,716 stocks, Lasco Financial dropped 15 cents to close at a 52 weeks’ low of $1.75 and closed after 166,806 units changed hands, Lasco Manufacturing declined 8 cents and ended at $5.20 as investors exchanged 155,801 shares. Limners and Bards shed 5 cents in closing at $1.70 with an exchange of 3,535 shares, Lumber Depot gained 6 cents to close at $2.06 after trading 20,521 stock units, 
Tropical Battery slippped 6 cents in closing at $1.90 after a transfer of 109,191 stocks and tTech dipped 13 cents to $2.35 with stakeholders trading a mere 199 shares.