Trading picked up markedly on the Jamaica Stock Exchange US Dollar market on Monday, with the volume of shares changing hands rising1,151 percent, after 385 percent more funds came into the market than on Friday and resulting in declining stocks edging out those that gained.
Overall, eight securities traded, compared to five on Friday, with two rising, three declining and three ending unchanged.
The JSE US Denominated Equities Index slipped 0.56 points to end at 199.49.
The PE Ratio, a measure used in computing appropriate stock values, averages 12.4. The PE ratio uses earnings forecasts done by ICInsider.com for companies, with the financial year ending during the current year up to August 2022.
Overall, 104,164 shares traded for US$7,020, up from 8,329 units at US$1,447 on Friday.
Trading averaged 13,021 units at US$877 compared to 1,666 shares at US$289 on Friday and month to date averages, well ahead of trading over the past two days, with 50,802 shares at US$5,614 versus 55,452 units at US$6,197 on Friday. October ended with an average of 48,646 units for US$4,160.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than the last selling price and one with a lower offer.
At the close, First Rock Capital US share finished unchanged at 6.99 US cents with investors switching ownership of 20,652 shares, Margaritaville popped 0.45 of a cent to 9.45 US cents with 15,122 stock units changing hands, Proven Investments dropped 0.03 of a cent to end at 23.88 US cents with 13,407 units traded. Sygnus Credit Investments JMD stock shed 1.59 cents to close at 13 US cents with a transfer of 27 stocks, Sygnus Credit Investments USD stock slipped 0.06 of a cent to settle at 12.44 US cents with 3,916 shares passing through the market, Sygnus Real Estate Finance USD share lost 0.1 of a cent to settle at 16 US cents with 154 units traded and Transjamaican Highway remained at 0.88 US cents with 50,816 stock units crossing the exchange.
In the preference segment, JMMB Group 6% ended unchanged at US$1.05 with 70 shares changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading rises for JSE USD market on Monday
Trinidad stocks inched higher
Market activity ended on Monday, resulting in more stocks rising than falling at the close of trading, after 39 percent fewer shares passed through the exchange, with 43 percent less value than Friday, when trading ended on the Trinidad and Tobago Stock Exchange.
A total of 14 securities traded down from 18 on Friday at the close, with four rising, five declining and five remaining unchanged. The Composite Index rose 0.14 points to 1,448.01, the All T&T Index popped 0.47 points to close at 1,988.04 and the Cross-Listed Index slipped 0.03 points to 121.94.
Overall, 466,698 shares traded for $7,138,167, down from 762,460 units at $12,500,703 on Friday.
An average of 33,336 units traded on Monday at $509,869 compared to 42,359 at $694,483 on Friday, with the month to date averaging 16,120 units at $259,212 versus 14,492 units at $235,498. The average trade for October amounts to 23,649 units at $227,589.
Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Agostini’s dropped 50 cents to close at $24 in switching ownership of 230 shares, Ansa McAl shed 20 cents in ending at $57.80 after swapping 881 units, Clico Investment Fund rose 1 cent to $27.51 while exchanging 4,800 stocks. First Citizens Group lost $1.79 in closing at $51.20 in trading 479 stock units GraceKennedy fell 2 cents to end at $6.24 with an exchange of 3,945 shares, Guardian Holdings rose 52 cents to close at $30.85, with 6,990 stock units crossing the market. JMMB Group dropped 5 cents to $2.25 after 97,615 units changed hands, Massy Holdings spiked $6 in closing at a 52 weeks’ high of $100, trading 24,606 stocks, National Enterprises finished unchanged at $3.29 after an exchange of 90,000 stock units. NCB Financial Group ended unchanged at $7.99 after trading 14,486 shares, Republic Financial Holdings ended at $145 in exchanging 20 stocks, Scotiabank finished at $63, with 500 units changing hands. Trinidad & Tobago NGL climbed 10 cents to $18.35, with 49,243 stock units clearing the market and Unilever Caribbean ended unchanged at $16.20 in an exchange of 172,903 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
4 new ICTOP10 stocks to make you money
After some weeks with no change to the ICTOP10 stocks, this week has four changes following two stocks that rose in price to drop out of the top listings and two significant earnings upgrades.
Medical Disposables jumped 23 percent this week and 60 percent for the year to date and fell out of the TOP10. The fallout follows strong results to September, with revenues climbing 48.6 percent in the quarter to $936 million and 42 percent for the six months to $1.6 billion with a profit of $21 million in the quarter versus a loss of $6 million in 2020 and $47 million for the half year from a loss of $13 million in 2020. Lasco Distributors replaced the stock after the price fell to $3.25 on Friday. Out of the Main Market comes Sygnus Credit Investments that closed the week with a rise of 5 percent to $18.90, Grace Kennedy with earnings adjusted downward and Proven with a modest price rise.
AMG Packaging with earnings per share upgraded to 30 cents now heads ICTOP10 Junior Market stocks. The company has completed the expansion of its factory, the installation of the new machine expected by January next year. The new machine is expected to reduce operating costs and provide capacity to increase production, using either virgin or recycled paper. In the Main Market, Caribbean Producers with the price up 261 percent for the year to date, received a major earnings upgrade to J$1.65 per share from $1.20, following the release of first quarter results. PanJam Investments and Sagicor Group, with earnings upgraded and Scotia Group with a fall in price to $34.05, return to the ICTOP10.
During the past week, Caribbean Brokers jumped 30 percent to close at $2.32 after hitting $2.96 on Thursday, following the company’s surprise to the market with outstanding results for the nine months to September. Elite Diagnostic rose 15 percent ahead of the release of the first quarter results that show increased sales over the June quarter and ended with a loss of $500,000 in the quarter versus a $10million loss in 2020, but the company generated cash inflows of $27 million for the quarter, slightly more than the dividend they recently paid. General Accident rose 8 percent ahead of quarterly results, Stationery & Office Supplies gained 7 percent, following improved nine months results. In the Main Market, Caribbean Producers jumped 24 percent following a big spike in September quarterly profit, but the stock has much more to do with earnings upgraded to J$1.65 per share for the year. Proven rose 6 percent, the rest were mostly downhill with a 10 percent fall for Guardian Holdings, VM Investments fell 7 percent and Radio Jamaica slipped 8 percent as investors reacted hurriedly to half year results that show the company is on track to reach ICInsider.com forecast of 45 cents per share.
The top three Main Market stocks are Guardian Holdings, Berger Paints and Caribbean Producers. These stocks are projected to gain between 227 to 261 percent expected versus last weeks’ 220 to 230 percent.
The top three stocks in the Junior Market are AMG Packaging, Elite Diagnostic, followed by Lasco Financial. All three can gain between 209 and 253 percent, from 203 percent and 297 percent previously.
This week’s focus: Earnings season is over, with a few more companies to post results. They were many positives to take from the results published so far, with many companies reporting increases for the latest quarter and the year to date. By all account, Caribbean Producers results must be the most outstanding, moving from a loss in 2020 to record first quarter profits and promise of much more. NCB Financial is worth a good look with strong fourth results that reflect improving net interest income and recovery from some poor quarters previously. Significantly, loans, the best indicator for future profits, grew a robust 16 percent for the year. Watch NCB.
The latest results show that there are many undervalued stocks, but investors should focus on these stocks that could deliver good earnings growth in 2022.
The average gains projected for the TOP 10 Junior Market stocks moved from 191 percent last week to 185 percent and Main Market stocks moved from 159 percent to 163 percent.
The Junior Market closed the week with an average PE 13.6 based on ICInsider.com’s 2021-22 earnings and is currently well below the target of 20 and the historical average of 17 for the period to March this year, based on 2020 earnings. The TOP 10 stocks trade at a PE of a mere 7.1, with a 53 percent discount to that market’s average PE.
The Junior Market can gain 47 percent to March next year, based on an average PE of 20 and 25 percent based on an average PE of 17. Six stocks represent 15 percent of all Junior Market stocks with positive earnings are trading at or above this level, down from seven last week, indicating that many others will rise towards the 17 mark in the weeks ahead.
The average PE for the JSE Main Market is 15.5, which is 23 percent less than the PE of 19 at the end of March and 29 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 8, representing a 51 percent discount to the market and well below the potential of 20. A total of 12 stocks or 25 percent of the market trade at or above a PE of 19, with most over 20, for an average PE of 25.5, suggesting that the accepted multiple maybe around 25 times the current year’s earnings.
ICTOP10 focuses on likely yearly winners. Accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios 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 per share are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Stocks mostly rise on JSE USD market
Trading on Friday ended with the volume of shares changing hands dropping sharply by 91 percent after 92 percent less funds passing through the market than on Thursday at Jamaica Stock Exchange US dollar market closing, resulting in more stocks rising than falling.
Compared to seven on Thursday, just five securities traded, with three rising, one declining and one ending unchanged.
The JSE US Denominated Equities Index gained 0.61 points to end at 200.05.
The PE Ratio, a measure used in computing appropriate stock values, averages 12.4. The PE ratio uses earnings forecasts done by ICInsider.com for each company, with the financial year ending during the current year up to August 2022.
Overall, 8,329 shares traded for US$1,447 versus 89,324 units at US$17,497 on Thursday. Trading averaged 1,666 units at US$289, compared to 12,761 shares at US$2,500 on Thursday and month to date averages 55,452 at US$6,197 versus 59,935 units at US$6,689 on Thursday. October ended with an average of 48,646 units for US$4,160.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than the last selling price and two with lower offers.
At the close, First Rock Capital USD share rallied 0.98 of a cent in ending at 6.99 US cents with an exchange of 2,000 shares, MPC Caribbean Clean Energy remained at US$1.08 with three stocks changing hands, Proven Investments increased 1.28 cents to 23.91 US cents in switching ownership of 5,018 units. Sygnus Credit Investments USD share inched 0.38 of a cent higher to close at 12.5 US cents while exchanging 1,212 stock units and Transjamaican Highway lost 0.01 of a cent to end at 0.88 of a US cents after trading 96 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Stocks jump on TTSE Friday
Stocks jumped sharply at the end of market activity ended on Friday resulting, in more stocks rising than falling, after 29 percent more shares changed hands, with 245 percent higher value than on Thursday, at the close of the Trinidad and Tobago Stock Exchange.
At the close, 18 securities traded compared to 14 on Thursday, with seven rising, three declining and eight remained unchanged. Angostura Holdings and Massy Holdings closed a 52 weeks’ high.
The Composite Index climbed 10.48 points to 1,447.87, the All T&T Index popped 29.01 points to 1,987.57 and the Cross-Listed Index lost 1.31 points to end at 121.97.
A total of 762,460 shares traded, for $12,500,703 compared to 589,485 units at $3,622,194 on Thursday.
An average of 42,359 units traded at $694,483 compared to 42,106 at $258,728 on Thursday, with the month to date averaging 14,492 units at $235,498 versus 10,633 units at $171,944. The average trade for October amounts to 23,649 units at $227,589.
Investor’s Choice bid-offer indicator shows one stock ending with a bid higher than the last selling price and one with a lower offer.
In trading, Agostini’s remained at $24.50 after 1,360 shares crossed the exchange, Angostura Holdings climbed 1 cent to end at a 52 weeks’ high of $17.36 in switching ownership of 10,100 stocks, Ansa Merchant Bank ended unchanged at $41 after exchanging 1,000 units. Clico Investment Fund traded 5,520 stock units at $27.50, First Citizens Group remained at $52.99 in an exchange of 11 shares, FirstCaribbean International Bank fell 35 cents to $6.15 with the swapping of 444 units. GraceKennedy advanced 1 cent to $6.26 with an exchange of 41,000 stocks, Guardian Holdings shed 18 cents to close at $30.33 after exchanging 4,049 stock units, JMMB Group rallied 6 cents to $2.30 with 200,000 stock units changing hands. Massy Holdings spiked $1.50 to a 52 weeks’ high of $94 in exchanging 7,370 stocks, National Enterprises ended unchanged at $3.29 in trading 13,000 shares, NCB Financial Group dipped 6 cents to $7.99, with 103,400 units clearing the market. Republic Financial Holdings rose $5 to $145 with 26,813 shares crossing the exchange, Scotiabank traded 1,361 units at $63, Trinidad & Tobago NGL remained at $18.25, with 2,850 stock units changing hands. Trinidad Cement popped 50 cents to end at $3.85 while exchanging 465 stocks, Unilever Caribbean ended unchanged at $16.20 after an exchange of 333,141 stock units and West Indian Tobacco gained $1.10 to close at $30 after trading 10,576 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Volume spike value flat on JSE USD market
Trading on Thursday ended with the volume of shares changing hands dropping 57 percent below Wednesday’s activity on the Jamaica Stock Exchange US dollar market, resulting in more stocks rising than falling.
Similar to Wednesday, seven securities traded, with three rising, two declining and two ending unchanged. The JSE US Denominated Equities Index lost 0.08 points to end at 199.44.
A total of 89,324 shares changed hands for US$17,497, down from 209,206 units at US$17,560 on Wednesday.
The PE Ratio, a formula for computing appropriate stock values, averages 12.1. The PE ratio uses earnings forecasted done by ICInsider.com for each company, with the financial year ending during the current year up to August 2022.
Trading averaged 12,761 units at US$2,500, compared to 29,887 shares at US$2,509 on Wednesday and month to date averages 59,935 at US$6,689 compared to 66,165 units at US$7,243 on Wednesday. October ended with an average of 48,646 units for US$4,160.
Investor’s Choice bid-offer indicator shows no stock ending with a bid higher than their last selling prices and one stock with a lower offer.
In trading, First Rock Capital US share lost 0.99 of a cents to close at 6.01 US cents after trading 17,153 shares, Proven Investments rallied 0.07 cents to 22.63 US cents after exchanging 33,707 stocks, Sygnus Credit Investments USD share dropped 0.85 of a cent in closing at 12.12 US cents while trading 34,288 units. Sygnus Real Estate Finance USD share rose 0.1 of a cent to end at 16.1 US cents with the swapping of 38 stock units and Transjamaican Highway edged 0.01 of a cent higher to 0.89 US cents with ten shares crossing the exchange.
In the preference segment, Equityline Mortgage Investment preference share ended unchanged at US$1.90, trading 95 units and JMMB Group 6% remained at US$1.05 after exchanging 4,033 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.