Junior Market stocks bounced at the close of trading on the Jamaica Stock Exchange on Tuesday after 26 stocks rose, six declined and six remained unchanged, leading to a rebound in the market of 13.62 points to settle at 3,320.12, following Mondays’ decline and after an exchange of 26 percent more shares than on Monday but with 18.43 percent lower value.
Trading ended with 38 active securities from 40 on Monday resulting in an exchange of 9,672,190 shares for $32,065,947 down from 13,103,080 units at $39,313,013 on Monday.
Future Energy Source led trading with 18.7 percent of total volume for 1.8 million shares, followed by Mailpac Group 16.7 percent, with 1.61 million units and Jamaican Teas with 15.8 percent market share with an exchange of 1.53 million units. Lasco Manufacturing was the only other stock to exceed a million shares, with 1.16 million units changing hands.
Trading averaged 254,531 units at $843,841 in contrast to 327,577 at $982,825 on Monday. The month to date averaged 339,442 units at $862,461, compared to 347,217 units at $864,166 on Monday. April closed with an average of 329,241 units at $854,716 trading.
The PE Ratio based on ICInsider.com’s forecast of 2021-22 earnings averaged 12.6.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than its last selling prices and five with lower offers.
At the close, Access Financial rose 50 cents to $21.50 with an exchange of 200 shares, Blue Power gained 15 cents to end at $3.90 with 1,203 units traded, Caribbean Assurance Brokers fell 7 cents to $2 with a transfer of 5,019 stocks. Caribbean Cream rose 39 cents to $6.05 with 9,136 stock units changing hands, Caribbean Flavours rose 8 cents to $2.18 with 10,000 shares passing through the market, Caribbean Producers gained 10 cents to close at $3.60 with 58,723 units traded. Consolidated Bakeries climbed 21 cents to $1.55 with an exchange of 2,000 stocks, Derrimon Trading advanced 15 cents to $2.65 with a transfer of 483,093 stocks, Dolphin Cove jumped 60 cents to $7.98 with 46 shares changing hands. Elite Diagnostic gained 31 cents to close at $3.60, with investors switching ownership of 19,877 units, Everything Fresh increased by 15 cents to end at $1.15 with 2,900 stock units passing through the market, Express Catering declined by 20 cents to finish at $5.70 with 62,100 stocks traded. Fontana rose 10 cents to $6.10 with a transfer of 501,799 shares, Honey Bun climbed 49 cents to $6.79 with 43,943 units exchanged, Indies Pharma lost 10 cents to settle at $3.60 with 53,783 stocks changing hands. Jamaican Teas slipped 6 cents to $3.89 with 1,527,305 shares passing through the market, Jetcon Corporation rose 5 cents to 91 cents with 187,309 units traded, Knutsford Express jumped 80 cents to $8 with a transfer of 274 stocks. Lasco Distributors gained 5 cents to close at $4.20 with an exchange of 18,634 stock units, Limners and Bards climbed 42 cents to settle at 52 weeks’ high of $3.45 with investors switching ownership of 345,420 shares, Lumber Depot advanced 42 cents to a record high of $3.45 with 334,579 units passing through the market. Mailpac Group increased by 21 cents to finish at $3.87 with 1,613,713 stocks traded, Medical Disposables gained 30 cents to settle at $4.70 with a transfer of 2,755 stock units, SSL Venture slipped 9 cents to 56 cents with 23,076 units changing hands. Stationery and Office Supplies jumped 87 cents to $8.50 with investors switching ownership of 267,890 stocks and tTech dropped 90 cents to close at $5 with 44,301 shares crossing the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading picks up on JSE USD Market
Trading volume climbed 113 percent on Tuesday over Monday’s level at the close of the US dollar market of the Jamaica Stock Exchange, resulting in five securities changing hands, compared to six on Monday with prices of two rising, none declining and three remaining unchanged.
The JSE USD Equity Index gained 1.96 points to end at 212.81. The average PE Ratio ends at 13.2 based on ICInsider.com’s forecast of 2021-22 earnings.
Overall, 1,338,589 shares changed hands, for US$44,466 compared to 628,310 units at US$42,801 on Monday.
Trading for the day averaged 267,718 units at US$8,893, in contrast to 104,718 shares at US$7,134 on Monday. Trading averaged 117,985 units for the month to date at US$14,108 in contrast to 105,910 units at US$14,529 on the prior trading day. April ended with an average of 80,293 units for US$6,320.
Investor’s Choice bid-offer indicator shows one stock ended with bids higher than their last selling prices and none with lower offers.
At the close, First Rock Capital ended at 9.5 US cents with 3,629 shares changing hands, Margaritaville finished at 9 US cents with 60,000 stocks clearing the market, Proven Investments advanced 0.45 of a cent in closing at 26.45 US cents and trading 77,422 stocks. Sygnus Credit Investments rose 0.43 of a cent to 15.08 US cents while trading 50,786 units and Transjamaican Highway closed at 0.85 of a US cent after 1,146,752 shares passed through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
More gains for TTSE stocks
Market activity pushed nearly half of stocks trading higher on Tuesday, with the market rising after 71.4 percent fewer shares changed hands than on Monday at the close of trading on the Trinidad and Tobago Stock Exchange.
At the close 17 securities traded up from 16 on Monday, with eight rising, five declining and four remaining unchanged. The Composite Index rose 6.06 points to 1,357.54, the All T&T Index gained 12.37 points to finish at 1,839.45, and The Cross-Listed Index shed 0.10 points to close at 117.98.
At the close, 111,300 shares changed hands for $2,813,902, down from 389,324 units at $5,982,945 on Monday.
An average of 6,547 units traded at $165,524, down 24,333 at $373,934 on Monday. An average of 16,870 units traded at $305,862 for the month to date versus 17,974 units at $320,866. The average trade for April amounted to 11,472 units at $184,959.
The Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Angostura Holdings ended at $15.51 with an exchange of 182 shares, Ansa Mcal declined 2 cents to $56.73 in trading 902 stocks, Clico Investment Fund rose 15 cents to $25.25, with 43,600 units clearing the market. First Citizens Bank rose 4 cents to $46.79 and finished trading 3,110 stock units. FirstCaribbean International Bank climbed 23 cents to $6.49 after 199 shares changed hands, Guardian Holdings gained $1.95 to close at a 52 weeks’ high of $32.95, with 29,618 units trading, Guardian Media dropped 24 cents to $3.01, with 150 units crossing the exchange. Massy Holdings climbed $2.76 to end at a 52 weeks’ high of $68.76 in exchanging 78 shares, National Flour Mills ended at $2.30 with an exchange of 126 shares, NCB Financial Group added 1 cent to close at $8.21 in trading 15,642 stock units. One Caribbean Media closed at $4.50 while exchanging 10,000 stock units, Republic Financial Holdings rose $1.78 to $134.56 after an exchange of 1,800 units, Scotiabank shed 10 cents to end at $54.90 with an exchange of 67 stock units. Trinidad & Tobago NGL advanced 50 cents to $15, with 2,460 units crossing the market, Trinidad Cement fell 5 cents to $3.25 with the swapping of 149 stocks, Unilever Caribbean closed at $16.30 in switching ownership of 120 shares and West Indian Tobacco lost 2 cents to end at $32.49 in exchanging 3,097 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
83% of traded stocks fell
Trading ended on Monday with stocks mostly falling on the US dollar market of the Jamaica Stock Exchange Index declining after an exchange of 80 percent fewer shares than on Friday, with 93 percent less value after 83 percent of stocks trading declined.
Six securities traded, similar to Friday, with five stocks, declining and one remaining unchanged.
The JSE USD Equity Index lost 2.22 points to end at 210.85 and the average PE Ratio ended at 13.1 based on ICInsider.com’s forecast of 2021-22 earnings.
Overall, 628,310 shares traded, for US$42,801 down sharply from 3,100,463 units at US$616,848 on Friday.
Trading averaged 104,718 units at US$7,134, in contrast to 516,744 shares at US$102,808 on Friday. Month to date, trading averaged 105,910 units at US$14,529 in contrast to 106,038 units at US$15,321 on Friday. April ended with an average of 80,293 units for US$6,320.
Investor’s Choice bid-offer indicator shows no stock ended with the bid higher than the last selling price and none with lower offers.
At the close, First Rock Capital declined by 2.3 cents to 9.5 US cents in an exchange of 12,074 shares, Proven Investments lost 0.85 of a cent to close at 26 US cents after the trading of 113,096 stocks, Sygnus Credit Investments fell 0.05 of a cent to settle at 14.65 US cents with 10,293 units changing hands and Transjamaican Highway slipped 0.05 of a cent to 0.85 US cents with 490,000 shares crossing the exchange.
In the preference segment, Equityline Mortgage Investment remained at US$2, after trading 147 stock units and JMMB Group 5.75% lost 3 cents to close at US$2.02 with 2,700 units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Rising stocks push T&TSE higher
Higher stock prices beat out falling ones at the close of activity ended on Monday, with the market rising after trading 25.54 percent fewer shares than on Friday at the close of trading on the Trinidad and Tobago Stock Exchange.
Trading took place in 16 stocks compared to 15 on Friday, with eight rising, three declining and five ending unchanged. The Composite Index gained 8.26 points to settle at 1,351.48, The All T&T Index increased 7.26 points to 1,827.08 and the Cross-Listed Index gained 1.31 points to close at 118.08.
At the close, 389,324 shares were traded for $5,982,945 down from 522,888 units at $8,105,696 on Friday.
An average of 24,333 units traded at $373,934 compared to 34,859 at $540,380 on Friday. For the month to date, an average of 17,974 units traded at $320,866 versus 17,263 units at $314,929. The average trade for April amounted to 11,472 units at $184,959.
The Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Agostini’s closed at $24.40, trading 4,525 shares, Angostura Holdings gained 1 cent to end at $15.51 in exchanging 1,064 shares, Clico Investment Fund lost 5 cents in closing at $25.10 after exchanging 2,572 units. First Citizens Bank shed 4 cents to close at $46.75, with 21,725 shares crossing the exchange. FirstCaribbean International Bank ended at $6.26 in an exchange of 2,037 stock units, Grace Kennedy rose 10 cents to end at 52 weeks’ high of $5.10, with 88,322 shares changing hands, Guardian Holdings gained $1 to end at 52 weeks’ high of $31 in exchanging 13,605 units. Massy Holdings advanced 94 cents to close at a 52 weeks’ high of $66 in trading 10,105 stock units, National Enterprises settled at $3 in switching ownership of 2,372 units, National Flour Mills rose 35 cents to close at $2.30 in an exchange of 60,620 shares. NCB Financial Group stayed at $8.20, with 115,974 shares changing hands, Prestige Holdings climbed 2 cents to $6.53, with 50 units crossing the exchange, Republic Financial Holdings climbed 26 cents to $132.78 in trading 6,333 stocks. Scotiabank gained 25 cents to end at $55 in an exchange of 8,975 stocks, Trinidad & Tobago NGL lost 30 cents to close at $14.50 with an exchange of 50,545 shares and Unilever Caribbean settled at $16.30 while exchanging 500 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Profit gains push Berger & SOS out of ICTOP10
Investors got a serious dose of a new set of company results and they liked a number of them, driving up prices of some up, following results that surprised positively. Many of the surprising ones matched the ICInsider.com forecast. Stationery & Office Supplies that was in the ICTOP10 up to last week reported earnings in line with ICInsider.com projections of $1 and investors pushed the price to a 52 weeks’ high of $9.50, with a gain of 109 percent for the year so far, with more gains ahead.
tTech is another company reporting earnings in line with the ICInsider.com forecast, with the stock jumping to $5.91 to be up 41 percent for the year. Berger Paints another TOP 10 stock up to last week, seems well on the way to earn $1.50, ICInsider.com forecasted, the price closed the week at $15, pushing it out of the TOP10. There are only 4,852 units on offer up to $17 thereafter, just over 154,000 between $18.99 and $19.86, Grace Kennedy reported a 26 percent rise in profit for the quarter, a continuation of good growth it enjoyed in 2020, but the market is yet to reward it with a price rise.
Access Financial and Key Insurance have moved into the TOP10 to fill the space left by the two stocks that fell out at the end of the week.
When ICInsider.com embarked on the 2021 profit forecast, it was a most difficult time due to the turbulence in the economy and businesses of many listed companies. Nevertheless, we boldly made our forecast and the first fruits are now showing and investors like them in driving up nine of 15 Junior Market stocks selected in January, bettering the gains for the year of 26 percent. Two stocks more than doubled and one is up 96 percent after more than doubling in trading for the year to date, earlier this week, before some profit taking set in. One stock rose 64 percent, one gained 43 percent, two 35 percent and two with 29 percent gain. Added to this is Future Energy Sources that was a part of the TOP10 listing starting at the end of February and has since gained 35 percent.
The ICTOP15 stocks in continuing an outstanding performance saw, Stationery & Office Supplies jumping 109 percent for the year to date, Lumber Depot 104 percent, Jamaican Teas 96 percent, Main Event 64 percent, Lasco Financial rose 43 percent, Caribbean Cream and Caribbean Producers up 35 percent, Lasco Distributors and MailPac a rise of 29 percent each.
The JSE Main Market is only up 4 percent year to date, but ICTOP15 stock selection saw Carreras and Grace Kennedy rising 37 percent, QWI Investments and Caribbean Cement up 29 percent, Seprod up 20 percent, Jamaica Producers 19 percent and Jamaica Broilers up 15 percent.
The bullish tone of both markets continues, but the Junior Market had hit the top line of an upward sloping channel that could act as resistance and is worth watching. The Main Market is a few thousand points away from its channel top, but those resistance points should be only temporary barriers if they, in fact become that.
The top three stocks in the Junior Market are headed by Elite Diagnostic followed by Medical Disposables and Jetcon Corporation, with the potential to gain between 245 to 283 percent. The top three Main Market stocks are Radio Jamaica in the number one spot, followed by Jamaica Broilers and PanJam Investment, with expected gains of 165 to 385 percent.
The targeted PE ratio for the market averages 20 based on profits of companies reporting full year’s results, up to the second quarter of 2022. Fiscal 2020-21 ended March 2021 with the average PE at 17 for Junior Stocks and 19 times for the Main Market. With interest rates on government paper below 5 percent and likely to remain there for a few years, the likelihood is for the average PE ratios to climb higher during the next twelve months.
The Junior Market, with an average PE 12.3 based on ICInsider.com’s 2021-22 earnings, is currently trading well below the target, as well as the recent historical average of 17. This represents another 39 percent rise in the market that would equate to a rise of 60 percent to March 2022. The Junior Market Top 10 stocks average a mere 6.4 at just 52 percent of the market average, indicating substantial gains ahead. The JSE Main Market ended the week with an overall PE of 16.5, some distance from the 19 the market ended March, suggesting a 15 percent rise from now to March 2022. The Main Market TOP 10 trades at a PE of 7.8 or 47 percent of the PE of that market and well off the potential of 20.
The average projected gain for the Junior Market IC TOP 10 stocks is 220 percent and 168 percent for the JSE Main Market, based on 2021-22 earnings. IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on likely increase for each company, taking into account the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in movements in and out of the lists weekly. 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.