There was much activity in the Junior Market this past week, with the market index bouncing over the 3,800 mark for the first time since the middle of March, resulting in Caribbean Cream moving to $4.45 during the week but closed at $3.20 after traders pushed the stock down sharply on Friday, but Lasco Distributors shot to $3.31 and Lasco Manufacturing to $4.48 at the close with both moving out of the Junior Market ICTOP10.
Lasco Distributors and Lasco Manufacturing are still priced at less than 10 times 2023 fiscal year earnings when many others are priced over 15 times. Additionally, the company’s directors meet this week to consider dividends. Distributors is seemingly set to pay around 12 cents per share and Manufacturing 13 cents. With the dividend likely to be paid in July, the annual yield will equate to 42 percent and 35 percent, respectively, if the shares were acquired now. Replacing the two Lasco Companies are iCreate following a drop in the price to 95 cents and Edufocal closing at $1.78.
The Main Market TOP10 stocks remained the same as the week before, with the market struggling throughout the week, with four days of significant declines in the market index as selling pressure pushed prices down, resulting in just one stock, Transjamaican moving up in ICTOP10 with the largest gain of just 4 percent, with the stock hitting a record closing high of $2.11 on Friday. The chart shows it has the potential to gain another 200 percent. Berger Paints fell 9 percent to a 52 weeks’ low of $6.87, followed by JMMB Group with a loss of 4 percent to close at one year low of $28.75, Jamaica Broilers is down 3 percent to $35 and Scotia Group dipped 3 percent to $33.60 despite reporting increased profit for the first half of the 2023 fiscal year, with the second quarter almost doubling the similar quarter in 2022.
Lasco Distributors climbed 19 percent following an 11 percent rise last week to close at $3.31 and is up 59 percent from the 2023 low of $2.08 in April. Five stocks rose 6 percent: Caribbean Assurance Brokers, Dolphin Cove, General Accident, Consolidated Bakeries and Lasco Manufacturing, while One on One slipped 3 percent at the end of the week to be the biggest loser.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.7, well below the market average of 13.2. The Main Market TOP10 is projected to have an average of 265 percent, to May 2024, based on 2023 forecasted earnings.
The 15 most highly valued Main Market stocks are priced at a PE of 15 to 98, with an average of 30 and 20 excluding the highest PE stocks and 18 for the top half excluding the stocks with the highest valuation.
The Junior Market Top 10 PE sits at 5.3 compared with the market at 10.4. There are 10 stocks representing 21 percent of the market, with PEs from 15 to 25, averaging 19 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. Junior Market is projected to rise by 283 percent to May 2024.
The differences between the average PE ratio of the Main and Junior Markets and the overall market valuation are important indicators of the 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 will likely deliver the best returns up to the end of May 2023 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, resulting 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.
Trading closed with an exchange of 15,463,887 shares for $32,509,692 compared with 6,422,074 units at $16,407,108 on Thursday.
The PE Ratio, a measure of computing appropriate stock values, averages 10.4. The PE ratios of Junior Market stocks are computed using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Future Energy Source rose 8 cents to close at $4.12 with an exchange of 218,150 stocks, General Accident rallied 77 cents to $5.28 following an exchange of 179,497 shares, GWest Corporation popped 15 cents to close at $1.04 after investors exchanged 100,000 stock units, iCreate declined 27 cents and ended at a 52 weeks’ low of 95 cents trading 201,813 units. Iron Rock Insurance dropped 20 cents to $2.15 as investors traded 1,500 shares, ISP Finance advanced $5.49 to end at $26.49 in trading 1,122 stock units, JFP Ltd climbed 13 cents to $1.75 while exchanging 1,593,585 units, Lasco Distributors rose 29 cents to $3.31 in an exchange of 21,706 stocks. Lasco Manufacturing rallied 23 cents in closing at $4.48 with a transfer of just 1,532 stocks, Limners and Bards advanced 15 cents to close at $2.35 with investors transferring 10,118 stock units, Lumber Depot popped 9 cents and ended at $2.29 after closing with 9,045 shares changing hands, Main Event increased 30 cents to end at a 52 weeks’ high of $14.80 after a transfer of 109,876 units. 
MFS Capital Partners dipped 9 cents to close at $3.10, with 288,337 stocks clearing the market, Regency Petroleum gained 11 cents to end at $2.99 with a transfer of 215,726 stock units and tTech fell 26 cents to $2.23 in trading 1,296 units.
Investors traded 6,422,074 shares for $16,407,108, up from 4,624,570 units at $10,856,038 on Wednesday.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and three with lower offers.
Fosrich climbed 8 cents in closing at $2.23 in switching ownership of 1,798,858 stocks, Future Energy Source fell 8 cents and ended at $4.04 with investors transferring 470,127 stock units after trading at an intraday low of $3.90, iCreate dropped 8 cents to end at $1.22 in an exchange of 39,848 units. KLE Group rallied 15 cents to close at $1.80 with shareholders swapping 23,405 shares, Knutsford Express gained 24 cents in closing at $11.78, with 80 units crossing the exchange, Lasco Distributors lost 38 cents in closing at $3.02 after trading ended with 68,439 stock units changing hands. Lasco Manufacturing dipped 23 cents to close at $4.25 while exchanging 820 stocks, Mailpac Group shed 9 cents in closing at $1.86, with 150,533 units crossing the market, Main Event rallied 20 cents to end at $14.50 and closed after 25,948 shares were exchanged,
Medical Disposables declined 35 cents to $4.50, with 8 stock units clearing the market and Regency Petroleum dropped 10 cents and ended at $2.88 as investors exchanged 371,035 stocks.
Investors traded 4,624,570 shares for $10,856,038 compared with 5,101,812 units at $15,733,543 on Tuesday.
The PE Ratio, a measure of computing appropriate stock values, averages 10.4. The PE ratios of Junior Market stocks are computed using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Caribbean Flavours rose 10 cents and ended at $1.36 in trading 202,848 units, Dolla Financial advanced 8 cents to end at $2.70 in an exchange of 609,509 shares, Dolphin Cove dipped 82 cents and ended at $15.16 with shareholders swapping 22,245 stock units, Elite Diagnostic declined 21 cents in closing at $2.19, with 22,858 stocks changing hands. Everything Fresh lost 9 cents to $1.69 clearing the market with 56,968 units, Express Catering dropped 10 cents to close at $4.89 after a transfer of 6,742 shares, Future Energy Source rallied 8 cents in closing at $4.12 after exchanging 107,745 stock units, General Accident lost 54 cents to close at $4.51 after an exchange of 1,571 stocks. Indies Pharma shed 19 cents to end at $3.11 with the swapping of 15,321 stocks, Lasco Distributors gained 10 cents and ended at $3.40 while exchanging 177,266 shares, Lasco Manufacturing increased 23 cents to $4.48, with 29,284 stock units crossing the market. Limners and Bards dipped 19 cents and ended at $2.20 as investors exchanged 165,470 units, 
Lumber Depot declined 9 cents to close at $2.20 in switching ownership of 62,243 shares, Mailpac Group climbed 10 cents to $1.95 with investors transferring 7,489 stocks. Main Event advanced 30 cents in closing at $14.30, with 2,875 stock units crossing the market and Paramount Trading fell 9 cents to end at $2.10 after closing with an exchange of 61,886 units.
Investors traded 5,101,812 shares for $15,733,543 compared to 10,566,673 units at $45,598,816 on Monday.
ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Indies Pharma gained 24 cents in closing at $3.30 after investors traded 12,528 units, Iron Rock Insurance rose 35 cents to 2.35 in switching ownership of 500 stocks, ISP Finance lost $5.49 to end at $21 after an exchange of 2,212 shares, KLE Group shed 28 cents and ended at $1.65 as investors exchanged 2,208 units, Knutsford Express fell 28 cents to $11.50 in an exchange of 49 stock units, Lasco Distributors advanced 30 cents to close at $3.30 with 1,076,231 stock units changing hands, Mailpac Group lost 10 cents in closing at $1.85 after 164,015 stocks were exchanged, Main Event shed 69 cents to close at $14 with investors transferring 64,505 shares, Medical Disposables climbed 67 cents in closing at $4.85 with shareholders swapping 500 units, Paramount Trading rose 9 cents to $2.19 after an exchange of 2,663 stocks, Regency Petroleum rallied 8 cents to close at $2.98 while exchanging 83,796 shares, 
Stationery and Office Supplies dipped $1.01 to end at $15.99 in trading 9,503 stock units and Tropical Battery rose 18 cents and ended at $2.07 with an exchange of 149,371 units.
Investors traded 10,566,673 shares for $45,598,816, up sharply from 5,098,602 units at $13,005,135 on Friday.
The PE Ratio, a measure of computing appropriate stock values, averages 10.5. The PE ratios of Junior Market stocks are computed using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Elite Diagnostic gained 27 cents ended at $2.40, with 20,385 stocks crossing the market. Fontana rose 15 cents to close at $9.75 after 75,641 shares crossed the exchange, General Accident dipped 53 cents in closing at $4.47 in switching ownership of 1,000 units, Indies Pharma shed 34 cents to end at $3.06 10,893 shares clearing the market with, Iron Rock Insurance fell 10 cents to end at $2 in an exchange of 3,932 stock units. Knutsford Express increased 78 cents to close at $11.78 in exchanging 40,290 stocks, Lasco Distributors advanced 23 cents and ended at $3 with investors trading 70,083 stock units, Lasco Financial lost 12 cents to close at $2.34 after an exchange of 103,131 shares, Limners and Bards climbed 17 cents in closing at $2.39 with trading in 4,003 stocks. Lumber Depot increased 8 cents to $2.29, with 15,933 units changing hands, Main Event rose 39 cents to end at $14.69 in an exchange of 6,410 units, Regency Petroleum shed 8 cents to close at $2.90 with a transfer of 124,924 shares. 
Stationery and Office Supplies jumped $1.50 to $17 as investors exchanged 1,505,819 stock units and left just 1,880 units on offer between $17.96 and $18.75, with the next amount offered for sale being 42,277 shares at $34.97, all that could change on Tuesday when the wider investing public is updated on developments in trading on Monday. Tropical Battery dropped 11 cents in closing at $1.89 after trading 112,891 stocks and tTech advanced 29 cents to $2.49 after just one share crossed the market.
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The price of Main Market listed 
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Investors traded 5,098,602 shares for $13,005,135 versus 12,402,210 units at $34,083,670 on Thursday.
The PE ratios of Junior Market stocks are computed using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Elite Diagnostic declined 27 cents to $2.13 and closed after investors traded 19,300 stocks, Honey Bun rose 22 cents to $6.89, with 35,292 units crossing the market, Indies Pharma popped 16 cents to end at $3.40 in an exchange of 30,139 shares. Iron Rock Insurance dipped 38 cents in closing at $2.10, with 31,913 units crossing the exchange, Jamaican Teas rallied 15 cents to close at $2.34 with an exchange of 78,210 stock units, KLE Group advanced 43 cents to close at $1.95 in exchange of one share, Knutsford Express fell 55 cents and ended at $11 after an exchange of 1,572 stocks. Lasco Distributors shed 13 cents to $2.77 in trading 25,745 units, Medical Disposables declined 60 cents in closing at $4.18, with 4,101 shares changing hands, Regency Petroleum popped 13 cents to end at $2.98, with 121,078 stocks clearing the market. 
Spur Tree Spices increased 9 cents to $2.42 in switching ownership of 119,299 stock units, Stationery and Office Supplies lost 27 cents to close at $15.50 after a transfer of 97 shares and tTech shed 26 cents and ended at $2.20 with investors transferring 2,750 stock units.
A total of 12,402,210 shares were traded for $34,083,670, down from 17,037,616 units at $59,386,219 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.
Honey Bun dropped 13 cents to close at $6.67 with 5,014 units changing hands, iCreate dipped 11 cents to $1.20 after 260,961 stocks were traded, Image Plus Consultants shed 8 cents in closing at $2 as investors exchanged 904,162 stocks, Indies Pharma dropped 21 cents in closing at $3.24 with invetors swapping 53,927 shares, ISP Finance rose $1.10 to $26.50 with investors transferring 23,087 units, JFP Ltd declined 14 cents to end at $1.64 in an exchange of 876,924 shares, Knutsford Express dipped 23 cents to close at $11.55 with 34 stocks clearing the market, Lasco Financial advanced 11 cents and ended at $2.46 after an exchange of 1,660 stock units, Limners and Bards fell 25 cents to end at $2.23 with a transfer of 12,976 units, Lumber Depot lost 9 cents to close at $2.21 in switching ownership of 22,980 stock units, Mailpac Group fell 12 cents to $1.85 after a transfer of 586,278 units, Medical Disposables increased 64 cents in closing at $4.78 with 1,642 shares crossing the market,
Paramount Trading declined 9 cents to $2.09 after investors traded 428 stocks, Regency Petroleum dipped 10 cents to end at $2.85 as 136,537 stock units passed through the market and Spur Tree Spices dropped 27 cents in closing at a 52 weeks’ low of $2.33 after an exchange of 1,642,325 shares.
Investors traded 17,037,616 shares for $59,386,219 up from 9,615,167 units at $25,289,603 on Tuesday.
The PE Ratio, a measure used to compute appropriate stock values, averages 11. The PE ratios of Junior Market stocks are based on last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Express Catering dropped 16 cents to close at $4.88 with an exchange of 12,665 stocks. Fontana advanced 12 cents to $9.52 with investors exchanging 386,065 stock units, Fosrich lost 11 cents to close at $2.29, with 2,892,733 stocks crossing the market, Future Energy Source climbed 23 cents to $4.15 with an exchange of 5,021,509 shares, Honey Bun rose 17 cents to $6.80 with 13,402 units clearing the market. Indies Pharma popped 15 cents to close at $3.45 in trading 1,851,361 units, Iron Rock Insurance gained 32 cents to end at $2.48 with 200 stocks changing hands, ISP Finance climbed $1.42 to $25.40 as investors exchanged 45,182 stock units, KLE Group dipped 11 cents in closing at $1.51 in switching ownership of 31 shares. Knutsford Express popped 26 cents to close at $11.78 in an exchange of 293,186 shares, Lasco Distributors lost 14 cents at $2.95 in an exchange of 60,245 units, Lasco Manufacturing rose 10 cents to $4.25 after 390 stock units passed through the market, Limners and Bards increased 18 cents to $2.48 with a transfer of 122,433 stocks.
Main Event dropped 40 cents in closing at $14.25 with investors transferring 4,584 stocks, Paramount Trading rallied 9 cents to $2.18, with 22,936 stock units clearing the market, Regency Petroleum rose 8 cents to end at $2.95 after 501,313 units passed through the market. Stationery and Office Supplies increased 63 cents and ended at $15.79, with 60,146 shares crossing the market and Tropical Battery gained 10 cents to close at $2 after 75,936 shares changed hands.