Solid jump in Junior Market trading

Trading jumped sharply on the Junior Market of the Jamaica Stock Exchange Monday, with a 136 percent rise in the volume of stocks traded, following a 71 percent jump in value over Friday, with trading in 46 securities compared with 40 on Friday and ending with prices of 16 rising, 20 declining and 10 closing unchanged.
The market closed with trading of 17,393,006 shares for $33,138,784 compared with 7,362,444 units at $19,399,707 on Friday.
Trading averaged 378,109 shares at $720,408, compared with 184,061 units at $484,993 on Friday with the month to date, averaging 287,854 units at $610,913 compared to February with an average of 253,246 units at $637,481.
Derrimon Trading led trading with 11.25 million shares for 64.7 percent of total volume followed by EduFocal with 1.65 million units for 9.5 percent of the day’s trade and ONE on ONE Educational with 712,458 units for 4.1 percent market share.
At the close of trading, the Junior Market Index dipped 14.74 points to conclude trading at 3,833.06.
The Junior Market ended trading with an average PE Ratio of 13.3, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Access Financial declined 70 cents to $21.30 in trading 793 stocks, Blue Power rallied 8 cents in closing at $3.23, with 3,834 units crossing the exchange, Cargo Handlers shed 9 cents to close at $14.50, with 208 shares being traded. Consolidated Bakeries popped 14 cents and ended at $2.15 in an exchange of 10,411 stock units, Dolphin Cove increased 79 cents to end at $19.99, with 6,146 shares clearing the market, EduFocal fell 17 cents to a 52 weeks’ low of $1.20 with investors transferring 1,646,439 stocks. Express Catering climbed 15 cents and ended at $3.94 in an exchange of 92,367 units, Fosrich skidded 10 cents to end at $2.12, with 129,108 stock units crossing the market, Honey Bun sank 21 cents in closing at $6.77 after a transfer of 1,957 shares. Indies Pharma dropped 13 cents to close at $2.57 while exchanging 56,033 stock units, ISP Finance rose $3.40 to $31.50 with a transfer of just one stock, Jamaican Teas advanced 25 cents to close at $2.65 after exchanging 5,590 units. Jetcon Corporation gained 8 cents in closing at 99 cents with investors trading 90,875 shares, JFP Ltd lost 12 cents to end at $1.38 in switching ownership of 33,212 stock units, Knutsford Express popped $1.47 and ended at $11.98 as investors exchanged 1,375 stocks. Lasco Distributors advanced 26 cents to $4.46 and closed with an exchange of 22,535 units, Lumber Depot dipped 20 cents and ended at $2.60 with investors swapping 2,032 shares, Mailpac Group fell 16 cents to close at $2.09, with 583,003 stock units crossing the market and Spur Tree Spices rose 20 cents in closing at $2.60 with traders dealing in 16,868 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Junior Market ends week in near black

The Junior Market of the Jamaica Stock Exchange slipped moderately on Friday, with nearly 3 stocks declining for each stock rising, following a 69 percent decline in the volume of stocks traded, with 68 percent lower value than Thursday, with trading in just 40 securities down from 45 on Thursday and ending with prices of eight rising, 22 declining and 10 closing unchanged and resulted in the market closing almost in the black on Friday.
The market closed on the day of March with an exchange of 7,362,444 shares for $19,399,707 compared with 23,801,250 units at $60,698,281 on Thursday, with an average of 184,061 shares at $484,993, compared with 528,917 stock units at $1,348,851 on Thursday and February with an average of 253,246 units at $637,481.
ONE on ONE Educational led trading with 1.26 million shares for 17.1 percent of total volume followed by Future Energy with 1.18 million units for 16 percent of the day’s trade and EduFocal with 1.12 million units for 15.2 percent of the day’s trade.
At the close of trading, the Junior Market Index dipped 26.91 points to close at 3,847.80.
The Junior Market ended trading with an average PE Ratio of 13.5, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and seven with lower offers.
At the close, AMG Packaging dipped 29 cents and ended at $2.89 with a transfer of 10,000 stocks, Blue Power climbed 15 cents to $3.15 after closing with an exchange of 29,932 units, Caribbean Cream slipped 5 cents in closing at $3.85, with 31,958 shares clearing the market after the company release the long outstanding third quarter results which continue to show improvement in sales and profit despite a bug hike in interest cost. Dolphin Cove skidded 44 cents to close at $19.20 with investors trading 255,970 stock units, following an announcement of a 50 percent hike in dividend payment in March to 60 cents per share, Fontana lost 5 cents to end at $9.40 in switching ownership of 111,995 shares, Fosrich dropped 13 cents to $2.22 while exchanging 20,451 stocks. Honey Bun rose 33 cents in closing at $6.98 with investors swapping 19,253 units, Indies Pharma rallied 10 cents and ended at $2.70 in an exchange of 31,085 stock units, Jamaican Teas shed 30 cents to end at $2.40, with 50,010 shares passing through the market. JFP Ltd declined 9 cents to close at $1.50 in an exchange of one stock unit, Knutsford Express fell $1.09 to $10.51, with 10 stocks MFS Capital Partners lost 18 cents to end at $2.09 trading 187,196 stock units. Regency Petroleum declined 7 cents in closing at $2.37 after 136,834 shares crossed the market and Spur Tree Spices shed 45 cents to close at $2.40 after a transfer of 136,338 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Junior Market shoots higher on Tuesday

Trading closed on the Junior Market of the Jamaica Stock Exchange Tuesday, with the volume of stocks traded, with an 81 percent decline and ended with a 71 percent decline in the value compared with that on Monday with trading in 42 securities compared with 40 on Monday and ending with prices of 15 rising, 21 declining and six closing unchanged.
The market closed with 4,278,021 shares being traded for $9,351,166 compared with 14,902,945 units at $48,199,902 on Monday.
Trading averaged 101,858 shares at $222,647, compared to 372,574 units at $1,204,998 on Monday with the month to date, averaging 223,206 units at $555,847 compared to 230,159 stock units at $574,939 on the previous day and January with an average of 175,081 units at $401,738.
EduFocal led trading with 1.04 million shares for 24.4 percent of the total volume followed by Stationery and Office Supplies with 698,934 units for 16.3 percent of the day’s trade and Tropical Battery with 482,246 units for 11.3 percent market share.
At the close of trading, the Junior Market Index popped 38.08 points to finish at 3,827.68 after trading in the region of 3,890 points in the morning session.
The Junior Market ended trading with an average PE Ratio of 13.1, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, AMG Packaging dipped 61 cents to end at $3 in an exchange of 12,614 units, Blue Power lost 17 cents to close atone$3.13 with a mere 1 stock clearing the market, Caribbean Flavours climbed 9 cents and ended at $1.69 as investors exchanged 1,557 shares. Consolidated Bakeries skidded 18 cents in closing at $2.01 after 401 stock units crossed the market, Elite Diagnostic increased 9 cents to close at $1.68 after a transfer of 1,611 shares, Express Catering sank 12 cents to $3.83, with 8,382 units crossing the market. Future Energy popped 29 cents to end at $3.50 after an exchange of 197,647 stocks, Knutsford Express rallied 60 cents in closing at $12 with a transfer of 60 stock units, Lasco Distributors rose 24 cents to close at $4.35 while exchanging 50,879 shares. Lasco Financial dipped 12 cents to $1.81 in trading 51,043 units, Lasco Manufacturing shed 69 cents to close at $5.09 after 281,163 stocks crossed the exchange, Main Event declined 71 cents to end at $14 with investors transferring 8,491 stock units. Medical Disposables fell 16 cents in closing at $2.52 after an exchange of 65,001 shares, MFS Capital Partners lost 8 cents and ended at $2.20 after trading 125,362 stock units and Paramount Trading gained 15 cents to close at $1.49 with an exchange of just one stock.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Trading climbs on the Junior Market

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Trading closed on the Junior Market of the Jamaica Stock Exchange Monday, with a 57 percent rise in the volume of stocks traded, with a 35 percent more value than Friday following trading in 40 securities compared with 45 on Friday and ending with prices of 16 rising, 13 declining and 11 closing unchanged.
The market closed on Monday with trading of 14,902,945 shares for $48,199,902 compared to 9,473,714 units at $35,695,598 on Friday.
Trading averaged 372,574 shares at $1,204,998, compared with 210,527 units at $793,236 on Friday with the month to date, averaging 230,159 units at $574,939 compared to 221,939 stock units at $538,572 on the previous day and January with an average of 175,081 units at $401,738.
Future Energy led trading with 10.98 million shares for 73.7 percent of the volume followed by Lasco Manufacturing with 1.19 million units for 8 percent of the day’s trade and ONE on ONE Educational with 724,352 units for 4.9 percent market share.
At the close of trading, the Junior Market Index lost 5.60 points to lock up trading at 3,789.60.
The Junior Market ended trading with an average PE Ratio of 13.2, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and eight with lower offers.
At the close, Dolphin Cove increased 20 cents to end at $19, with 91,260 units crossing the market, Future Energy dropped 30 cents in closing at $3.21 after a transfer of 10,977,580 stocks, Jamaican Teas climbed 13 cents to $2.54 while exchanging 32,221 shares. Lasco Distributors sank 24 cents and ended at $4.11 in trading 18,921 stock units, Lasco Manufacturing rose 69 cents to close at $5.78 after exchanging 1,193,867 shares, Limners and Bards advanced 25 cents to $1.85, with 52,670 units crossing the market. Main Event popped $1.14 to end at $14.71 in an exchange of 4,350 stocks, MFS Capital Partners rallied 9 cents in closing at $2.28 with investors transferring 546,160 stock units, Spur Tree Spices gained 12 cents and ended at $2.41, with 109,290 shares crossing the exchange and tTech popped 28 cents to close at $2.50 with traders dealing in 53,905 stocks.

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

ISP Finance & AMG tops ICTOP10

The Junior Market slipped by a few points at the end of the week but the Main Market declined around one percent, with Carreras and Wigton Windfarm hitting new 52 weeks’ highs.

AMG Packaging in ICTOP10

The Junior Market closed the week with ISP Finance jumping 26 percent to close at $31.50, a pretty high price based on the earnings of 57 cents per share in 2023, with 25 cents in the final quarter, with income jumping a solid 39.6 percent, that augurs very well for revenues and earnings for 2024. A close examination of the 2023 fiscal results reveals significant potential for revenues and profit ahead that should start in 2024. Watch for the first quarter numbers for this one.
There was an 18 percent jump in the price of AMG Packaging to close at $3.55, following the holding at the company’s AGM, Lasco Distributors rose 9 percent to $4.55. Lasco Manufacturing closed 4 percent higher at $5.09 after the price reached $6.14 on Friday, with the supply of the stock being sold drying up. Iron Rock Insurance dropped back 16 percent to $2.11 and in the Main Market TOP10, Palace Amusement shed 14 percent to close at $1.07.
For the full list of weekly percentage changes for the ICTOP10 stocks, check the attached charts for the weekly percentage price movements.
The average PE for the JSE Main Market ICTOP 10 stands at 5.3, well below the market average of 13.7 and the Junior Market TOP10 sits at 7.5 just over half of the market, with an average of 13.4.
The Main Market ICTOP10 is projected to gain an average of 281 percent by May 2024, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 170 percent over the same period.
In the Main Market ICTOP 10, a total of 14 of the most highly valued stocks representing 29 percent of the Main Market are priced at a PE of 15 to 108, with an average of 31 and 21 excluding the highest PE ratios, and a PE of 25 for the top half and 18 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 12 stocks, or 25 percent of the market, with PEs ranging from 15 to 45, averaging 21, well above the market’s average. The top half of the market has an average PE of 17, possibly the lowest fair value for stocks, currently.
Of great import is that the averages of both markets are now converging around a PE of 20 for close to a third of the market, as the year is coming to a close and with more information available on the full year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. 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 on or around 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.

Junior Market backs off 3,795 points peak

The Junior Market of the Jamaica Stock Exchange traded over 3,875 points in the early morning session on Friday, with Lasco Manufacturing hitting $6.14 when trading was halted but later pulled back after a big trade passed through the market on a day when the volume of stocks traded, declined 71 percent, with a 45 percent lower value than on Thursday, resulting in 45 securities changing hands compared with 43 on Thursday and ending with prices of 19 rising, 20 declining and six closing unchanged.
The market closed on Friday after 9,473,714 shares were exchange for $35,695,598 versus 32,133,533 units at $65,285,279 on Thursday.
Trading averaged 210,527 shares at $793,236, compared to 747,291 units at $1,518,262 on Thursday, with a month to date average of 221,939 units at $538,572 compared with 222,732 stocks at $520,887 on the previous day and better than January with an average of 175,081 units at $401,738.
Lasco Manufacturing led trading with 4.48 million shares for 47.2 percent of the total volume that traded, followed by Stationery and Office Supplies with 990,778 units for 10.5 percent of the day’s trade and Future Energy with 579,426 units for 6.1 percent market share.
At the close of trading, the Junior Market Index rallied 13.60 points to finish at 3,795.20 after hitting over 3,875 points in early trading, before the fall in the intraday price of Lasco Manufacturing from $6.14.
The Junior Market ended trading with an average PE Ratio of 12.9, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, AMG Packaging fell 15 cents to close at $3.55 with an exchange of 11,657 stock units, CAC 2000 rallied 17 cents to $4, after 4 shares passed through the market, Cargo Handlers increased 51 cents to end at $14.51 in switching ownership of 1,744 stocks. Caribbean Cream dropped 9 cents in closing at $3.80 after an exchange of 107 units, Caribbean Flavours sank 8 cents and ended at $1.60 in trading 15,173 shares, Consolidated Bakeries popped 19 cents to $2.20, with 8,155 units changing hands. Derrimon Trading dipped 12 cents to close at $1.87 in an exchange of 11,021 stocks, Everything Fresh advanced by 9 cents to end at $1.68, with investors trading 103,479 stock units, Express Catering rose 18 cents to $3.98 while investors exchanged 72,863 shares. Future Energy lost 9 cents and ended at $3.51, with 579,426 units crossing the market, Honey Bun gained 20 cents to end at $6.85 with investors swapping 28,900 stocks, Jamaican Teas shed 13 cents and ended at $2.41 with a transfer of 1,525 stock units. Knutsford Express declined 60 cents in closing at $11.40 with investors dealing in 10,000 shares, Lasco Distributors climbed 35 cents to $4.35 in an exchange of 402,870 stock, Lasco Manufacturing skidded 36 cents to end at $5.09 after hitting a high of $6.14 during the morning session, with investors trading 4,476,083 units. Paramount Trading fell 25 cents to $1.30, after 10,851 stocks crossed the exchange, Regency Petroleum popped 10 cents to end at $2.20 with traders dealing in 164,976 shares, Spur Tree Spices shed 11 cents in closing at $2.29 as investors exchanged 357,294 units and tTech advanced 20 cents and ended at $2.22 with 10 stocks changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Trading drops on Junior Market

The Junior Market of the Jamaica Stock Exchange closed on Wednesday, with a 48 percent decline in the volume of stocks traded, with a 60 percent lower value than Tuesday with trading in 46 securities as was the case on Tuesday and ended with prices of 18 rising, 19 declining and nine closing unchanged, with KLE Group ending at a 52 weeks’ closing high of $2.48.
The Junior Market trading ended on Wednesday with 4,540,074 shares at $9,824,488 versus 8,723,426 units at $24,310,202 on Tuesday.
Trading averaged 98,697 shares at $213,576 compared with 189,640 units at $528,483 on Tuesday with the month to date, averaging 185,449 units at $449,999 compared with 192,588 stock units at $469,455 on the previous day and more than January with an average of 175,081 units at $401,738.
Dolla Financial led trading with 1.06 million shares for 23.3 percent of the total volume followed by ONE on ONE Educational with 837,365 units for 18.4 percent of the day’s trade and EduFocal with 373,478 units for 8.2 percent market share.
At the close of trading, the Junior Market Index rose 8.29 points to conclude trading at 3,803.26.
The Junior Market ended trading with an average PE Ratio of 13.1, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around 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, AMG Packaging advanced 34 cents to $3.08 with an exchange of just one share, Cargo Handlers rose 90 cents and ended at $14, with 842 stocks crossing the market, Caribbean Assurance Brokers lost 27 cents to close at $2.11 with investors dealing in 4,001 shares. Caribbean Cream rallied 12 cents in closing at $3.89 in an exchange of 6 stock units, Consolidated Bakeries shed 19 cents to end at $2.01 with traders dealing in 101 shares, Dolla Financial sank 14 cents to $2.70 as investors exchanged 1,059,407 units. Dolphin Cove increased 30 cents to end at $18.80 after a transfer of 119 stocks, EduFocal climbed 10 cents in closing at $1.45 with 373,478 stock units clearing the market, Express Catering popped 9 cents to close at $3.99 while exchanging 124 shares. Fontana dipped 15 cents and ended at $9.79, with 17,099 units passing through the market, Future Energy gained 8 cents to $3.70 in trading 51,568 stocks, Honey Bun rose 25 cents and ended at $6.70, with 2,250 stock units crossing the market. Indies Pharma climbed 18 cents in closing at $2.75 with investors trading 42,965 shares, Iron Rock Insurance fell 42 cents to close at $2.10 in an exchange of 375 units, ISP Finance increased by 50 cents to end at $31.50, with 22,796 stock units changing hands. Lasco Distributors popped 13 cents to $4 after an exchange of 23,090 shares, Limners and Bards dropped 12 cents to close at $1.50 with investors swapping 38,046 shares, Mailpac Group gained 13 cents and ended at $2.30 in switching ownership of 74,668 stock units. Main Event skidded 65 cents in closing at $13.55 after an exchange of 1,401 stocks, Stationery and Office Supplies advanced 18 cents to end at $1.83 following the trading of 143,479 units and Tropical Battery declined 10 cents to $2.40 after an exchange of 260,861 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Rising stocks dominate Junior Market

Stocks mostly rose at the close of trading on the Junior Market of the Jamaica Stock Exchange on Tuesday, with prices of 23 rising, 11 declining and 12 closing unchanged with nearly all stocks on the market traded result in 46 securities changing hands compared with 47 on Monday, following a 55 percent rise in the volume of stocks traded, with a 65 percent greater value than on Monday and ending with.
The market ended trading on Tuesday with 8,723,426 shares for $24,310,202 up from 5,643,750 stock units at $14,776,971 on Monday.
Trading averaged 189,640 shares at $528,483 compared to 120,080 units at $314,404 on Monday with the month to date, ending with an average of 192,588 units at $469,455 compared with 192,852 stock units at $464,162 on the previous day and January ending with an average of 175,081 units at $401,738.
Future Energy led trading with 2.09 million shares for 24 percent of the total volume followed by Fosrich with 1.13 million units for 13 percent of trading, ONE on ONE Educational ended with 1.02 million units for 11.7 percent market share and Lasco Distributors with 1.02 million units for 11.6 percent of the total volume.
At the close of trading, the Junior Market Index popped 2.07 points to end the day at 3,794.97.
The Junior Market ended trading with an average PE Ratio of 13.1, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around 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 rose 8 cents to close at $22.68 as investors traded just one stock, AMG Packaging lost 35 cents to end at $2.74 after a transfer of 5,955 units, Cargo Handlers declined 90 cents to close at $13.10 after investors traded 1,063 shares. Caribbean Assurance Brokers advanced 25 cents to $2.38 after 21,855 stock units passed through the market, Caribbean Cream popped 42 cents to $3.77 with an exchange of 4 shares, Express Catering increased 10 cents to $3.90, with 52,915 units changing hands. Jamaican Teas popped 10 cents in closing at $2.50 with a transfer of 161,220 stocks, KLE Group rose 8 cents to $2.47 with investors swapping 178,198 stock units, Lasco Financial sank 11 cents to close at $1.88 in an exchange of 62,675 shares. Lasco Manufacturing rallied 14 cents and ended at $5.09 with investors trading 661,103 stocks, Limners and Bards popped 12 cents to $1.62 after exchanging 12 units, Mailpac Group dipped 16 cents and ended at $2.17 with investors dealing in 141,373 stock units. Main Event climbed 10 cents to close at $14.20 while exchanging 1,595 shares, Medical Disposables rose 8 cents to end at $2.68 after trading 1,262 units and Paramount Trading gained 8 cents in closing at $1.48 in an exchange of 8,330 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Falling stocks dominates Junior Market

Trading closed on Monday, with all stocks being active, except for suspended iCreate at the close of the Junior Market on the Jamaica Stock Exchange, with the volume of stocks traded rising 32 percent following a 30 percent rise in the value compared to Friday with trading in 47 securities up from 42 on Friday and ending with prices of 13 rising, 24 declining and 10 closing unchanged.
Trading closed on Monday after 5,643,750 shares were exchanged for $14,776,971 up from 4,262,868 units at $11,405,667 on Friday.
Trading averaged 120,080 shares at $314,404, compared with 101,497 units at $271,563 on Friday with the month to date, averaging 192,852 units at $464,162 compared with  200,192 stock units at $479,266 on the previous day and January with an average of 175,081 units at $401,738.
Stationery and Office Supplies was the traded stock with 1.46 million shares followed by Regency Petroleum with 685,156 units and Image Plus with 493,784 units for 8.7 percent market share.
At the close of trading, the Junior Market Index dipped 19.99 points to end at 3,792.90.
The Junior Market ended trading with an average PE Ratio of 13, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, AMG Packaging climbed 9 cents to end at $3.09 in switching ownership of 15,563 shares, Blue Power declined 50 cents in closing at $2.85 after an exchange of 434 units, CAC 2000 rose 30 cents to $4.51, after hitting a 52 weeks’ intraday low of $3.02 with investors dealing in just 4 shares. Cargo Handlers shed 59 cents and ended at $14 after 713 stocks passed through the market, Caribbean Assurance Brokers lost 27 cents in closing at $2.13 with investors swapping 64,750 shares, Caribbean Cream skidded 55 cents to $3.35 in an exchange of 100,615 stocks. Consolidated Bakeries advanced 22 cents to close at $2.20 after trading 61 units, Dolphin Cove fell 47 cents to $18.50 while exchanging 862 stock units, Express Catering sank 19 cents to $3.80 with a transfer of 148,713 shares. Fontana dipped 25 cents and ended at $10 as investors exchanged 297,440 stock units, Honey Bun dropped 24 cents to $6.45, with 2,369 stocks crossing the market, ISP Finance popped $5.98 to end at $31 after exchanging 1,978 units. Lasco Distributors fell 13 cents in closing at $3.87 after 18,025 stocks crossed the market, Lasco Financial increased 14 cents to close at $1.99 in an exchange of 1,296 units, Limners and Bards sank 12 cents and ended at $1.50 with investors transferring 5,295 shares. Lumber Depot rallied 15 cents to $2.45 and closed after investors traded 1,165 stock units, Main Event dipped 66 cents to end at $14.10 with investors trading 4,053 shares, Medical Disposables lost 10 cents in closing at $2.60 with an exchange of 10 units. Paramount Trading gained 13 cents to close at $1.40 with 5,607 stocks clearing the market and Stationery and Office Supplies skidded 19 cents and ended at $1.61 with traders dealing in 1,463,420 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

ISP Finance & Guardian join ICTOP10

The performance of the Jamaica Stock Exchange in the near term is expected to be influenced by the pile of results dumped on the market in the past week, with varying degrees of success. Based on results for the December quarter, Caribbean Producers’ earnings were adjusted down to $1.15 per share, resulting in the stock falling out of the TOP10, with Guardian Holdings replacing it and ISP Finance entering the Junior Market listing in replacing Elite Diagnostic following the release of full year earnings, with ICInsider.com projected earnings per share of $4 for ISP for 2024.
For a second consecutive week, the Junior Market ended with minimal price changes, ranging from 4 percent and less and none with a negative price movement, while the Main Market had only two stocks with negative price changes, with Pulse Investments, the highest with a fall of 7 percent to $1.85 and 138 Student Living slipping 3 percent, while Margaritaville popped 18 percent to close at the week at $17.48, Caribbean Producers rose 6 percent to $9.64 following the release of nine months results that saw profit for the second quarter rising 17.6 percent to US$2 million but with the six months results, down marginally to US$3.28 million versus $3.35 million in 2022. Key Insurance rose 5 percent to $2.31 and Palace Amusement gained 4 percent to close at $1.25 following news of a sold-out opening night for the Marley movie that nearly doubled that of the highly successful Black Panther.
For the full list of weekly percentage changes for the ICTOP10 stocks, check the attached charts that now carry a column of the weekly percentage price movements.
The average PE for the JSE Main Market ICTOP 10 stands at 5.4, well below the market average of 13.7 and the Junior Market TOP10 sits at 7.3 just over half of the market, with an average of 13.4.
The Main Market ICTOP10 is projected to gain an average of 279 percent by May 2024, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 177 percent over the same period.
In the Main Market ICTOP 10, a total of 14 of the most highly valued stocks representing 29 percent of the Main Market are priced at a PE of 15 to 110, with an average of 30 and 24 excluding the highest PE ratios, and a PE of 25 for the top half and 17 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 13 stocks, or 27 percent of the market, with PEs ranging from 15 to 45, averaging 21, well above the market’s average. The top half of the market has an average PE of 18, possibly the lowest fair value for stocks, currently.
Of great import is that the averages of both markets are now converging around a PE of 20 for close to a third of the market, as the year is coming to a close and with more information available on the full year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. 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 on or around 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.

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