Trading closed on Wednesday, with the stock volume and value rising 65 percent and 22 percent, respectively higher than Tuesday. The market index slipped for a second day at the close of the Jamaica Stock Exchange Junior Market.
A total of 36 securities traded similar to Tuesday and ended with 12 rising, 15 declining and nine, closing unchanged.
At the close, the Junior Market Index declined 14.69 points to 3,367.71. The PE Ratio, a measure used to compute appropriate stock values, averages 14.2. The PE ratio of each stock is shown in the chart below, is based on earnings forecasted by ICInsider.com for companies with their financial year ending up to August 2022.
Trading amassed 6,054,083 shares for $20,040,287 compared to 3,658,667 units at $16,374,907 on Tuesday. Jamaican Teas led trading with 1.33 million shares for 22 percent of total volume, followed by CAC 2000 9.5% preference share with 652,423 units for 10.8 percent of the day’s trade and Future Energy Source with 536,275 units for 8.9 percent market share.
Trading averaged 168,169 shares at $556,675, up from 101,630 shares at $454,859 on Tuesday and month to date, averaging 161,195 units at $599,396, compared to160,795 units at $601,848 on Tuesday. October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, AMG Packaging fell 40 cents to $2.30 while exchanging 259,950 shares, Caribbean Cream declined 50 cents to $5.50 in switching ownership of 11,709 stocks, Derrimon Trading rose 18 cents to end at $2.39 after 475,005 units crossed the exchange. Dolphin Cove increased 71 cents to a 52 weeks’ closing high of $14 after exchanging 280,755 stock units, Express Catering climbed 64 cents to close at $6, with 199,565 stocks crossing the market, Fontana shed 10 cents in ending at $7.40, with 11,475 units changing hands. Fosrich advanced 50 cents to close at $8.95 in trading 14,811 shares, General Accident fell 25 cents to $6.25 in an exchange of 10,289 stock units, Honey Bun dropped 73 cents to end at $10.99, exchanging 25,122 stocks. Knutsford Express shed 83 cents in closing at $7.15 and trading 6,341 units, Lasco Distributors fell 23 cents to end at $3.07 after 79,000 stock units changed hands, Lasco Financial rallied 15 cents to $3.15 in exchanging 23,675 shares. 
Limners and Bards dropped 13 cents to close at $3.38 with the swapping of 11,250 shares, Lumber Depot popped 10 cents to $2.95, trading 477,659 units, Mailpac Group lost 25 cents in closing at $3.05 with an exchange of 466,321 stocks. Medical Disposables declined $1.10 to $5.50, with 1,000 stock units crossing the market, Tropical Battery gained 12 cents to close at $1.34, with 26,383 shares changing hands and tTech popped 30 cents to $4.50 trading 120,000 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading inched higher on Junior Market
Trading picked up moderately on Tuesday over Monday, with the volume and the value of stocks traded rising at the close of the Jamaica Stock Exchange Junior Market, leading to the number of advancing and declining stocks closing almost even.
Market activity led to 36 securities trading compared to 35 on Monday and ended with 16 rising, 17 declining and three ending unchanged. The Junior Market Index slipped just 0.10 points to 3,382.40. The PE Ratio, a measure used to compute appropriate stock value, averages 4.3. The PE ratio of each stock is shown in the chart below, is based on earnings forecasted by ICInsider.com for companies with their financial year ending up to August 2022.
Trading ended with 3,658,667 shares changing hands for $16,374,907 , up from 3,190,110 units at $12,896,482 on Monday. Express Catering led trading with 578,623 shares for 15.8 percent of total volume, followed by Mailpac Group with 508,966 units for 13.9 percent of the day’s trade and Derrimon Trading with 447,753 units for 12.2 percent market share.
Trading averaged 101,630 shares at $454,859 versus 91,146 shares at $368,471 on Monday and month to date, averaging 160,795 units at $601,848 compared to 164,399 units at $610,802 on Monday. October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and four stocks with lower offers.
At the close, Access Financial fell 50 cents to $20 in trading 109 shares, AMG Packaging increased 5 cents to end at a 52 weeks’ closing high of $2.70 after hitting a high for the day of $2.89, with an exchange of 187,358 stocks, Blue Power gained 23 cents to close at $3 after exchanging 10,000 units, Caribbean Assurance Brokers dropped 10 cents ending at $2.40, with 179,965 stocks clearing the market. Caribbean Cream spiked 49 cents in closing at $6 after trading nine stock units, Derrimon Trading lost 10 cents to end at $2.21 in exchanging 447,753 units, Dolphin Cove shed 70 cents to $13.29, with 282,618 stocks changing hands. Elite Diagnostic fell 21 cents to $3.23, with 40,200 stock units crossing the market, Express Catering rallied 10 cents to $5.36 as 578,623 shares changed hands, Fosrich declined 37 cents to end at $8.45 after 19,955 shares crossed the market. Future Energy Source fell 15 cents to close at $2.68 after trading 336,563 units, General Accident shed 40 cents to close at $6.50 in an exchange of 16,431 stocks, Honey Bun popped $1.47 in closing at $11.72 in trading 69,284 stock units. Iron Rock Insurance advanced 70 cents to end at $4 in exchanging 30,000 units, KLE Group climbed 13 cents to $3.13 with 250 stock units changing hands, Knutsford Express increased 48 cents to $7.98 with an exchange of 600 shares. 
Lasco Distributors rose 15 cents in closing at $3.30, exchanging 35,264 stocks, Lasco Financial dropped 19 cents to $3 in switching ownership of 155,614 units, Limners and Bards gained 18 cents to end at $3.51 after trading 41,209 stocks. Lumber Depot slipped 12 cents to $2.85 in trading 185,841 stock units, Mailpac Group dropped 9 cents to close at $3.30 with 508,966 shares crossing the market, Medical Disposables increased $1.40 to end at $6.60 after trading 29,021 stock units. Stationery and Office Supplies lost 64 cents to close at $5.55 after exchanging 32,889 stocks and Tropical Battery shed 13 cents in ending at $1.22, with 31,261 shares crossing the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market bounces on Monday
Stocks recorded gains at the close on Monday, with the Market Index rallying 34.19 points to 3,382.50, but the volume and the value of stocks traded fell 43 percent lower than Friday on the Jamaica Stock Exchange Junior Market.
A total of 35 securities traded, up from 33 on Friday, with 16 rising, 13 declining and six, unchanged. AMG Packaging and Dolphin Cove ended at 52 weeks’ closing high and SSL Venture Capital traded at an intraday high of $1.
The PE Ratio, a measure used to compute appropriate stock values, averages 14.2. The PE ratio of each stock is shown in the chart below, is based on earnings forecasted by ICInsider.com for companies with their financial year ending up to August 2022.
Trading ended with 3,190,110 shares changing hands for $12,896,482 versus 5,618,593 units at $22,682,268 on Friday. Future Energy Source led trading with 918,979 shares for 28.8 percent of total volume, then Caribbean Assurance Brokers with 318,860 units for 10 percent of the day’s trade and Mailpac Group with 269,613 units for 8.5 percent market share.
Trading averaged 91,146 shares at $368,471 down from 170,260 shares at $687,341 on Friday and month to date, averaging 164,399 units at $610,802, compared to 169,010 units at $626,057 on Friday. October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, AMG Packaging spiked 25 cents to end at a 52 weeks’ high of $2.65 with an exchange of 61,076 shares, Cargo Handlers declined 9 cents to $7.01 after exchanging 1,520 stocks, Caribbean Assurance Brokers increased 22 cents to $2.50, with 318,860 units changing hands. Caribbean Cream lost 31 cents to $5.51 after 45,675 stock units crossed the exchange, Derrimon Trading fell 8 cents in closing at $2.31 with 58,355 shares changing hands, Dolphin Cove jumped $1.49 to end at a 52 weeks’ closing high of $13.99, with 229,784 stocks crossing the market. Elite Diagnostic rallied 20 cents to $3.44 after trading 21,258 units, Everything Fresh advanced 11 cents to $1.01 while exchanging 12,763 stock units, Express Catering rose 16 cents to close at $5.26 after swapping 151,922 units. Fontana shed 20 cents in closing at $7.50, with 53,724 stock units changing hands, Fosrich dropped 18 cents to $8.82, trading 8,854 shares, General Accident climbed 20 cents to $6.90, with 3,500 stocks clearing the market. 
Honey Bun declined 25 cents to $10.25 in switching ownership of 99,459 units, iCreate dropped 16 cents in closing at 79 cents in an exchange of 90,000 shares, Indies Pharma lost 13 cents to close at $2.87 with the swapping of 79,139 stock units. Lasco Financial popped 9 cents to $3.19 in exchanging 81,844 stocks, Lumber Depot rallied 9 cents to end at $2.97 trading 75,317 units, Mailpac Group shed 15 cents to close at $3.39 in switching ownership of 269,613 stocks. Main Event climbed 43 cents to $4.15, with 75,335 stock units changing hands and Stationery and Office Supplies gained 58 cents in closing at $6.19 in an exchange of 3,649 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Four additions to ICTOP10 listings
ICTOP10 stocks have four new listings this week as recent profit results led to revisions to earnings, as a result, the Junior Market lost General Accident and Stationery & Office Supplies, while Berger Paints and PanJam Investment exited the Main Market ICTOP10.
General Accident inched from $6.60 last week to $6.70 this week, but earnings were revised downwards to 65 cents for the year, helping it exit the TOP10. New to this week’s ICTOP10 are the Junior Market’s Medical Disposables, with the price falling 23 percent to $5.20 from $6.78 last week and Caribbean Cream. Sygnus Credit Investments dropped out of the TOP10 the previous week and returns with the price dropping 17 percent from $18.90 down to $15.66 this past week, while Proven Investments also returns.
Big TOP10 movers this week are AMG Packaging up 41 percent in closing at $2.40 from $1.70 last week, Dolphin Cove leapt 22 percent to land at $12.50. In the Main Market, Caribbean Producers dipped 15 percent to close at $8.61 as some selling came in for the stock and Radio Jamaica has an analysts briefing on Tuesday coming and dropped 13 percent to an attractive entry of $3.06, with revenues and profit climbing over the last fiscal year’s outturn.
The top three Main Market stocks are Caribbean Producers, Guardian Holdings and JMMB Group, which are projected to gain between 212 to 283 percent expected versus last weeks’ 227 to 261 percent.
The top three stocks in the Junior Market are Caribbean Assurance Brokers, followed by AMG Packaging and Lasco Distributors. All three can gain between 154 and 207 percent, down from 209 percent and 253 percent previously.
The latest results show that there are many undervalued stocks, but investors should focus on these stocks that could show good earnings growth in 2022.
The average gains projected for the TOP 10 Junior Market stocks moved from 185 percent last week to 145 percent and Main Market stocks remains unchanged at 163 percent.
The Junior Market closed the week with an average PE 14.1 based on ICInsider.com’s 2021-22 earnings and is currently well below the target of 20 and the March 2020 historical average of 17, based on 2020 earnings. The TOP 10 stocks trade at a PE of a mere 8.3, with a 42 percent discount to that market’s average PE.
The Junior Market can gain 42 percent to March next year, based on an average PE of 20 and 21 percent based on an average PE of 17. Nine stocks representing 22 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 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 52 percent discount to the market and well below the potential of 20. A total of 14 stocks or 30 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.
Mild Junior Market slippage
Trading remained steady at the close on Friday, on the Jamaica Stock Exchange Junior Market, with the volume and the value of stocks trading marginally different than on Thursday and the advanced decline ratio almost even.
Market activity led to 33 securities trading similar to Thursday and ended with 12 rising, 13 declining and eight closing unchanged.
At the close, the Junior Market Index lost 10.40 points to settle at 3,348.31. The PE Ratio, a measure used to compute appropriate stock values, averages 13.8. The PE ratio of each stock is shown in the chart below, is based on earnings forecasted by ICInsider.com for companies with their financial year ending up to August 2022.
Trading ended with 5,618,593 shares changing hands for $22,682,268 compared to 5,349,279 units at $25,391,088 on Thursday. Lumber Depot led trading with 1.38 million shares for 24.6 percent of total volume, followed by Dolphin Cove with 790,372 units for 14.1 percent of the day’s trade and Derrimon Trading with 654,389 units for 11.6 percent market share.
Trading averaged 170,260 shares at $687,341 in contrast to 162,099 shares at $769,427 on Thursday, with the month to date averaging 169,010 units at $626,057, compared to 168,931 units at $622,190 on Thursday. October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Access Financial dropped 30 cents to $20.50, with 12,500 shares crossing the market, AMG Packaging advanced 20 cents to $2.40 in trading 74,082 stock units, Blue Power shed 48 cents in closing at $2.77 after an exchange of 1,078 stocks. Cargo Handlers gained 10 cents ending at $7.10, with 500 units clearing the market, Caribbean Assurance Brokers rallied 8 cents to $2.28 while exchanging 531,703 shares, Derrimon Trading rose 11 cents in closing at $2.39 after trading 654,389 stock units. Dolphin Cove spiked $2.25 to end at a 52 weeks’ closing high of $12.50 with an exchange of 790,372 stocks, Elite Diagnostic declined 21 cents to end at $3.24 with the swapping of 14,072 units, Future Energy Source fell 13 cents to $2.77, with 612,436 units changing hands. 
Honey Bun climbed $1.30 to a 52 weeks’ closing high of $10.50, with 76,381 stock units crossing the exchange, Iron Rock Insurance rallied 23 cents to $3.30 in switching ownership of 11,000 shares, Jamaican Teas lost 20 cents to end at $3.80 after 126,677 stocks changed hands. Knutsford Express popped 45 cents to close at $7.50 after exchanging 1,259 shares, Lasco Distributors shed 10 cents in ending at $3.15 trading 58,580 stock units, SSL Venture rallied 10 cents to 90 cents after trading 5,813 units and tTech rose 20 cents to close at $4.20 in an exchange of 1,226 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading picks up on the JSE Junior Market
Trading closed on Thursday, with the volume of stocks traded rising 25 percent, with the value towering 98 percent over Wednesday’s trades on the Junior Market of the Jamaica Stock Exchange.
A total of 33 securities traded versus 34 on Wednesday and ended with 13 rising, 14 declining and six closing unchanged.
The Junior Market Index rose 16.35 points to settle at 3,358.71.
The PE Ratio, a formula used in computing appropriate stock values averages 13.7. The PE ratio of each stock is shown in the chart below, is based on earnings forecasted by ICInsider.com for companies with their financial year ending up to August 2022.
Trading pulled in 5,349,279 shares for $25,391,088 up 4,272,195 units at $12,821,722 on Wednesday. Dolphin Cove led trading with 1.23 million shares for 23 percent of total volume, followed by Lumber Depot with 549,063 units for 10.3 percent of the day’s trade and Future Energy Source with 538,011 units for 10.1 percent market share.
Trading averaged 162,099 shares at $769,427, up from 125,653 shares at $377,109 on Wednesday and month to date, averaging 168,931 units at $622,190, compared to 169,391 units at $612,274 on Wednesday.October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows five stocks ending with bids higher than their last selling prices and three stocks with lower offers.
At the close, Access Financial gained 80 cents in ending at $20.80 after an exchange of 5,330 shares, AMG Packaging fell 20 cents to $2.20, with 32,894 stocks crossing the market, Derrimon Trading shed 10 cents in closing at $2.28 in an exchange of 94,815 stock units. Express fell 10 cents to end at $5.05 while exchanging 21,423 units, Fontana rallied 69 cents to $7.72 swapping ownership of 222,563 units, Fosrich climbed 10 cents to $9 in exchanging 67,450 stock units. General Accident declined 45 cents to $6.70 with an exchange of 6,898 stocks, Honey Bun dipped 27 cents to end at $9.20, with 25,557 shares changing hands, KLE Group rose 45 cents in closing at $3, with 200 stocks trading. 
Lasco Distributors fell 7 cents to close at $3.25 trading 75,156 stock units, Lasco Financial popped 8 cents in closing at $3.14 with the swapping of 144,720 shares, Lumber Depot declined 14 cents to close at $2.85 after exchanging 549,063 units. Medical Disposables shed 40 cents to $5.20 in trading 1,000 shares, Paramount Trading lost 20 cents in ending at $1.05, with 21,281 units changing hands, Stationery and Office Supplies spiked 14 cents to $5.61 after trading 4,134 stock units and Tropical Battery increased 11 cents to $1.43, with 475,573 stocks crossing the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big plunge for Junior Market
Trading closed on Wednesday, with the market index of the Jamaica Stock Exchange Junior Market plunging more than 60 points for the day as the volume of stocks trading dropped 48 percent and the value falling 64 percent below Tuesday’s close.
Just 34 securities traded versus 35 on Tuesday and ended with 13 rising, 15 declining and six closing unchanged.
Junior Market Index declined 67.14 points to settle at 3,342.36.
The PE Ratio, a measure used in computing appropriate stock values, averages 13.8. The PE ratio of each stock, shown in the chart below, is based on earnings forecasted by ICInsider.com for companies whose financial year ends up to August 2022.
A total of, 4,272,195 shares traded for $12,821,722, down from 8,149,450 units at $35,224,431 on Tuesday. Future Energy Source led trading with 1.16 million shares accounting for 27.1 percent of total volume, followed by Tropical Battery, with 474,624 units for 11.1 percent of the day’s trade and AMG Packaging with 464,536 units for 10.9 percent market share.
Trading averaged 125,653 shares at $377,109 versus 232,841 shares at $1,006,412 on Tuesday and month to date, averaging 169,391 units at $612,274, compared to 172,652 units at $629,808 on Tuesday. October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Access Financial slipped 79 cents to $20 after trading 535 shares, AMG Packaging spiked 22 cents to $2.40 in an exchange of 464,536 stocks, CAC 2000 advanced 55 cents to close at $7.10 in trading 1,490 stock units. Derrimon Trading climbed 17 cents to $2.38 in swapping of 153,416 units, Elite Diagnostic rallied 6 cents to $3.41 after exchanging 10,000 shares, Everything Fresh dropped 10 cents in closing at 90 cents, with 51,314 units changing hands. Fontana fell 63 cents to end at $7.03 with 119,833 stocks passing through the exchange, Future Energy Source slipped 9 cents to $2.95, with 1,157,637 stock units clearing the market, General Accident gained 15 cents ending at $7.15 with 33,284 units changing hands. Honey Bun popped 47 cents to close at $9.47 in an exchange of 17,016 stock units, Jamaican Teas increased 6 cents to $4.04 after 115,183 shares crossed the exchange, Knutsford Express declined 95 cents in ending at $7.05 in switching ownership of 2,000 stocks. 
Lasco Manufacturing dropped 7 cents to close at $4.75, trading 14,267 stock units, Limners and Bards lost 21 cents to end at $3.34 while exchanging 253,968 units, Lumber Depot rose 10 cents to $2.99, with 262,591 stocks changing hands. Main Event shed 65 cents to close at $3.70 with 3,560 shares crossing through the market and Paramount Trading declined 15 cents to end at $1.25 with an exchange of 11,839 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Slippage for Junior Market again
The Jamaica Stock Exchange Junior Market closed on Tuesday after a day of steady trading that led to a modest fall in the market index. The stock volume declined 38 percent, with a 38 percent decline in value compared to Monday after declining stocks beat out those rising.
Market activity ended with 35 securities trading, down from 41 on Monday, with 14 rising, 19 declining and two unchanged leading the Market Index to slip 4.84 points to 3,409.50.
The PE Ratio, a measure used to compute appropriate stock values, averages 14.1. The PE ratio of each stock is shown in the chart below, is based on earnings forecast done by ICInsider.com for companies with their financial year ending up to August 2022.
A total of 8,149,450 shares traded for $35,224,431, down from 13,114,335 units at $56,513,996 on Monday. Future Energy Source led trading with 2.14 million shares for 26.2 percent of total volume, followed by Dolphin Cove 1.43 million units for 17.6 percent of the day’s trade and Caribbean Assurance Brokers with 1.14 million units for 14 percent market share.
Trading averaged 232,841 shares at $1,006,412 in contrast to 319,862 shares at $1,378,390 on Monday with month to date, averaging 172,652 units at $629,808, compared to 167,649 units at $598,499 on Monday. October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and two with lower offers.
At the close, Access Financial rose 54 cents to $20.79 with an exchange of 10 shares, AMG Packaging increased 13 cents to $2.18 after trading 110,095 units, up to an intraday 52 weeks’ high of 42.5, Blue Power climbed 15 cents to $3.25 while exchanging 9,000 stock units. Cargo Handlers shed 55 cents to close at $7 with the swapping of 8,556 stocks, Caribbean Cream popped 22 cents in closing at $5.82, with 5,350 units changing hands, Derrimon Trading dropped 19 cents to $2.21, with 160,646 stock units crossing the market. Everything Fresh gained 9 cents in closing at $1 in trading 9,080 stocks, Express Catering advanced 15 cents to $5.15 after 850 shares changed hands, Fontana fell 27 cents to close at $7.66 in switching ownership of 75,311 stock units. Fosrich popped 10 cents to $8.90 in exchanging 6,110 units, Future Energy Source lost 16 cents to end at $3.04 after 2,138,861 stocks crossed the exchange, General Accident declined 25 cents to $7 in an exchange of 88,510 shares. Honey Bun fell 50 cents to close at $9 in exchanging 35,039 stock units, Indies Pharma shed 7 cents to end at $3.05, with 19,903 units changing hands, ISP Finance lost $3.78 after finishing at $38 and trading 259 stocks. 
Jetcon Corporation rallied 7 cents in closing at $1.09 after exchanging 257,600 shares, Knutsford Express climbed 15 cents to close at $8 with 11,232 shares clearing the market, Lasco Financial dropped 15 cents to $3.10 after exchanging 259,621 stocks. Limners and Bards advanced 20 cents to $3.55 in trading 33,339 units, Paramount Trading popped 15 cents to end at $1.40 after an exchange of 500 stock units, Stationery and Office Supplies gained 30 cents in closing at $6.20 with the swapping of 21,591 shares and tTech dropped 77 cents to $4 in an exchange of 200 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market drops on increased trading Tuesday
Trading picked up, with an increase in the number of active companies on Monday, the volume of stocks traded jumping 56 percent more and the value surging 90 percent higher than on Friday at the close of the Junior Market of the Jamaica Stock Exchange.
Market activity led to 41 securities trading up from 38 on Friday and ended with 17 rising, 20 declining and four, closing unchanged.
At the close, the Junior Market Index dropped 34.94 points to 3,414.34.
The PE Ratio, a measure used to compute appropriate stock values, averages 14. The PE ratio of each stock, shown in the chart below, is based on earnings forecasted by ICInsider.com for companies whose financial year ends up to August 2022.
Trading ended with 13,114,335 shares changing hands for $56,513,996 compared to 8,396,940 units at $29,816,364 on Friday. Future Energy Source had the lead trade of 27.6 percent of total volume, with 3.62 million shares, Dolphin Cove followed with 15.8 percent, after trading 2.07 million units, Mailpac Group 11.8 percent, with 1.55 million shares, AMG Packaging controlled 8 percent with 1.05 million units and Jamaican Teas 7.8 percent after an exchange of 1.03 million shares of the company.
Trading averaged 319,862 shares at $1,378,390 in contrast to 220,972 shares at $784,641 on Friday and the month to date averages 167,649 units at $598,499, compared to 151,225 units at $514,353 on Friday. October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, AMG Packaging increased 35 cents to end at $2.05 a 1fter trading 1,047,866 shares, Blue Power fell 10 cents to $3.10 in switching ownership of 3,698 units, Cargo Handlers spiked 50 cents to $7.55 trading 9,427 stock units. Caribbean Cream declined 13 cents to close at $5.60 with an exchange of 28,724 stocks, Derrimon Trading advanced 10 cents in closing at $2.40 with the swapping of 244,313 units, Elite Diagnostic dropped 16 cents to $3.30 in an exchange of 167,575 shares. Everything Fresh lost 17 cents to close at 91 cents while exchanging 32,736 stocks, Express Catering shed 28 cents in ending at $5, with 52,226 stock units crossing the exchange, Fontana rallied 65 cents to end at a 52 weeks’ high of $7.93, with 257,364 stock units clearing the market. Fosrich fell 20 cents to $8.80, with 20,376 shares changing hands, General Accident popped 65 cents to a 52 weeks’ closing high of $7.25 after it hit an intraday high of $8, in trading 312,716 units, Iron Rock Insurance lost 72 cents to close at $3.07 trading just one stock. ISP Finance shed $3.22 in closing at $41.78 in trading 2,458 stock units, Jamaican Teas declined 22 cents to $4 in exchanging 1,028,278 units, KLE Group climbed 15 cents to $2.55 after trading 105,200 shares. 
Knutsford Express rose 59 cents to $7.85 with 241 stocks units changing hands, Lasco Distributors gained 12 cents in closing at $3.37 after exchanging 8,550 units, Lasco Manufacturing popped 7 cents to close at $4.82 after trading 65,400 shares. Limners and Bards dropped 23 cents to $3.35, with 36,814 stock units changing hands, Mailpac Group dipped 27 cents to $3.51 after 1,549,715 stocks traded, Medical Disposables lost $1.18 to close at $5.60, with 38,252 stock units clearing the market. Paramount Trading climbed 21 cents to end at $1.25 in an exchange of 10,000 stocks, Stationery and Office Supplies plunged 85 cents to $5.90 in an exchange of 77,418 shares and tTech spiked 77 cents in closing at $4.77, with 213 units crossing the market.
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.
Caribbean Producers traded 52 weeks’ high during the week following a near US$2 quarterly profit.
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.
