Investors pushed the volume of stocks traded up 273 percent and the value 30 percent higher than on Monday at the close of the Jamaica Stock Exchange Main Market on Tuesday, after trading 51 securities compared to 55 on Monday, with 19 rising, 19 declining and 13 ending unchanged.
A total of 47,132,067 shares were exchanged for $105,575,678 compared to 12,642,427 units at $81,389,720 on Monday.
Trading averaged 924,158 units at $2,070,131 versus 229,862 shares at $1,479,813 on Monday and month to date, an average of 273,634 units at $2,972,954, compared to 231,797 units at $3,031,017 on the previous day. February closed with an average of 183,599 units at $2,160,070.
Transjamaican Highway led trading with 30.87 million shares for 65.5 percent of total volume followed by QWI Investments with 9.78 million units for 20.8 percent of the day’s trade, Sagicor Select Financial Fund with 2.30 million units for 4.9 percent of market share and Wigton Windfarm with 2.05 million units for 4.3 percent of stocks traded.
The All Jamaican Composite Index declined 1,777.23 points to 362,932.88, the JSE Main Index fell 1,543.61 points to 321,896.20 and the JSE Financial Index lost 1.24 points to end at 74.41.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.4 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows 11 stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Caribbean Cement lost 40 cents in closing at $57.50 after investors exchanged 6,678 shares, Eppley increased $5.50 in closing at $37.50 after investors switched ownership of 47 stock units, Eppley Caribbean Property Fund dropped $4.58 to $40.41 with one unit changing hands. First Rock Real Estate dipped 55 cents to close at $11.50 in trading 3,000 stocks, GraceKennedy rose $3 to end at $81 while exchanging 24,170 units, Jamaica Producers gained 74 cents to close at $20.99 with 4,304 stocks crossing the exchange. JMMB Group popped 48 cents in closing at $30 after trading 388,135 stock units after hitting a new 52 weeks’ low of $29, Mayberry Investments advanced 41 cents to $8.21 after an exchange of 1,011 shares, NCB Financial shed $1.69 to hit a 52 weeks’ closing low of $68 as 45,814 stock units passed through the market. PanJam Investment declined $4.50 to end at $52 after a transfer of 20,023 shares, Proven Investments climbed $1.86 to $28.37 as investors exchanged 6,216 stocks, Seprod rallied $5.87 in closing at $67.88 in an exchange of 1,379 units. Sterling Investments advanced 41 cents to close at $2.96 with a transfer of 54,910 units and Wisynco Group fell 40 cents to end at $16.60 with 95,712 shares clearing the market.
In the preference segment, Jamaica Public Service 7% popped $50 to record high of $250, with 306 stock units crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading jumps on JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Tuesday, with a 1,915 percent surge in the volume of stocks changing hands valued at 1,243 percent more than on Monday and resulting in trading of seven securities, compared to six on Monday with two rising, two declining and three ending unchanged.
Investors traded 223,523 shares for US$16,568 up from 11,094 units at US$1,234 on Monday.
Trading averaged 31,932 units at US$2,367 up from 1,849 shares at US$206 on Monday, with a month to date average of 12,496 shares at US$2,849 versus 11,200 units at US$2,882 on the previous day. February ended with an average of 43,793 units for US$2,015.
The JSE USD Equities Index lost 0.06 points to end at 194.83.
The PE Ratio, a measure used in computing appropriate stock values, averages 9. The PE ratio is computed based on the last traded price of each stock divided by projected earnings forecasts done by ICInsider.com for companies with their financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling prices and none with a lower offer.
At the close, First Rock Real Estate USD share advanced 0.32 of a cent to 6.4 US cents with a transfer of 843 shares, Proven Investments ended at 18 US cents as investors traded 3,447 stocks, Sterling Investments dipped 0.22 of a cent to close at 1.78 US cents after the trading of 40,000 units. Sygnus Credit Investments ended at 10 US cents with 5,069 stock units passed through the market, Sygnus Real Estate Finance USD share declined 1.08 cents to end at a 52 weeks’ low of 6.1 US cents while exchanging 509 units and Transjamaican Highway increased 0.02 of a cent in closing at 0.96 of one US cent, with 167,133 stock units crossing the market.
In the preference segment, JMMB Group 5.75% after ending at US$2 in an exchange of 6,522 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading picks up on Trinidad Exchange
Investors pumped 26 percent more funds in the Trinidad and Tobago Stock Exchange on Tuesday and traded 139 percent more shares than on Monday, resulting in 19 securities trading compared with 18 on Monday, with prices of seven stocks rising, four declining and eight ending unchanged.
Investors exchanged 309,122 shares for $2,736,260, up from 129,513 stock units at $2,172,869 on Monday.
Trading averaged 16,270 shares at $144,014 compared to 7,195 shares at $120,715 on Monday, with trading month to date averaging 24,711 shares at $234,274 versus 25,313 units at $240,723 on the previous day. The average trade for February amounts to 51,996 shares at $458,520.
The Composite Index dipped 0.58 points to 1,326.56, the All T&T Index slipped 2.08 points to 1,974.17, the SME Index remained at 61.52 and the Cross-Listed Index popped 0.14 points to close at 88.67.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Agostini’s shed $1.48 to end at $58.51 as 502 shares passed through the market, Ansa McAl ended at $50.85, with 923 stocks crossing the market, First Citizens Group rose 1 cent to end at $50.01 with a transfer of 6,067 stock units. FirstCaribbean International Bank popped 10 cents to $7.15 with the swapping of 16,501 shares, Guardian Holdings remained at $25.06 after an exchange of 44,732 stock units, Guardian Media remained at $2.20 with 1,000 stocks changing hands. L.J. Williams B share fell 17 cents to $2.56 after trading 10,000 units, Massy Holdings climbed 5 cents to close at $4.55 in an exchange of 141,781 shares, National Enterprises saw trading in 7,234 units at $3.73. National Flour Mills remained at $1.50 in an exchange of 31,552 stocks, One Caribbean Media closed at $3.70, with 2,010 shares crossing the exchange, Point Lisas dropped 2 cents to $3.58, with 40,731 stock units crossing the market. Prestige Holdings increased 5 cents to $7.50 as investors exchanged 70 stock units, Republic Financial ended at $138 after an exchange of 1,078 stocks, Scotiabank rallied 2 cents to close at $78.17 while exchanging 161 shares. Trinidad & Tobago NGL advanced 3 cents to close at $20.05 with a transfer of 791 units, Trinidad Cement lost 4 cents to end at $3.51 in switching ownership of 1,500 shares, Unilever Caribbean remained at $14.65 in trading 489 stock units and West Indian Tobacco gained 3 cents in ending at $17.05, with 2,000 units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading plunges on JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Monday, with a 76 percent fall in the volume of stocks changing hands, valued 79 percent less than on Friday, and resulted in the trading of six securities, similar to that on Friday, with two rising, no declining and four unchanged.
Only 11,094 shares were traded for a mere US$1,234 compared to 47,009 units at US$5,749 on Friday.
Trading averaged 1,849 shares at US$206 compared with 7,835 units at US$958 on Friday, with a month to date average of 11,200 shares at US$2,882 compared with 11,767 units at US$3,044 on the previous day. February ended with an average of 43,793 units at US$2,015.
The JSE USD Equities Index rose 4.49 points to end at 194.89.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.8. The PE ratio is computed based on the last traded price of each stock divided by projected earnings forecasts done by ICInsider.com for companies with their financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling prices and one stock with a lower offer.
At the close, Margaritaville ending at 10.99 US cents after 1,112 shares passed through the market, Proven Investments popped 2 cents to 18 US cents with an exchange of 276 stocks, Sterling Investments rose 0.25 of a cent to close at 2 US cents with investors transferring 497 stock units. Sygnus Credit Investments remained at 10 US cents in an exchange of 5,685 units and Transjamaican Highway ending at 0.94 of one US cent, with 3,178 units changing hands.
In the preference segment, Eppley 6% preference share remained at US$1.3112 in switching ownership of 346 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Declines overshadow winners on TTSE
Declining stocks were the dominant factor in market activity on the Trinidad and Tobago Stock Exchange on Monday, with a 48 percent decline in the volume of stocks traded following a 51 percent decline in value compared to Friday and resulted in 18 securities trading compared with 21 on Friday, with just two stocks rising, 12 declining and four remaining unchanged.
Investors traded 129,513 shares for $2,172,869 versus 250,020 stocks at $2,461,630 on Friday.
An average of 7,195 shares were traded at $120,715 compared with 11,906 shares at $117,220 on Friday. Trading month to date averaged 25,313 units at $240,723 versus 26,629 units at $249,433 on the previous trading day. The average trade for February was 51,996 shares at $458,520.
The Composite Index shed 2.55 points to end at 1,327.14, the All T&T Index declined 1.80 points to 1,976.25, the SME Index remained at 61.52 and the Cross-Listed Index shed 0.47 points to end at 88.53.
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, Angostura Holdings shed $1.22 to end at $23.57, with 1,994 shares crossing the exchange, Ansa McAl dipped 15 cents to close at $50.85 in trading 59 stock units, Calypso Macro Investment Fund declined $1.25 in closing at $21.75 after an exchange of 150 stocks. First Citizens Group slipped 5 cents to $50 after 6,169 units changed hands, FirstCaribbean International Bank dropped 10 cents to $7.05 as 6,414 units passed through the market, GraceKennedy fell 4 cents to $4.70 with 60 stocks changing hands. Guardian Holdings remained at $25.06 while exchanging 18,105 shares, JMMB Group increased 4 cents to $1.75 after 3,800 stock units were traded, Massy Holdings ended at $4.50 after an exchange of 41,050 shares. National Enterprises remained at $3.73 after investors swapped 25,930 stocks, NCB Financial shed 10 cents to close at a 52 weeks’ low of $3.90 with an exchange of 4,660 units, Prestige Holdings lost 5 cents to close at $7.45 with investors transferring 1,750 stock units. Republic Financial ended at $138 after a transfer of 5,168 shares, Scotiabank fell 15 cents to $78.15 with an exchange of 871 units, Trinidad & Tobago NGL declined 66 cents in closing at $20.02 in switching ownership of 1,100 stocks. Trinidad Cement rose 4 cents to end at $3.55 as investors exchanged 1,384 stock units, Unilever Caribbean dipped 14 cents in closing at $14.65 after 743 stock units were exchanged and West Indian Tobacco dipped 1 cent ending at $17.02, with 10,106 shares crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
KLE Group is Main Event in ICTOP10
Stocks continued to be battered in the past week sending the Junior Market back to January 2022 levels and the Main Market declined for a second week and as far back as September 2018 levels, but some stocks bucked the trend and posted gains.
Earnings season delivered a few new results during the past week, with Main Event posting positive profit gains for the January first quarter and seeming poised to earn $1.80 for the year. Fosrich released full year results to December, with profit jumping to $325 million from $199 million in 2021 as revenues climbed a solid 43.4 percent, Dolla Financial posted increased profit of 18 cents per share and should go on to earn 40 cents in 2023, but it is not in ICInsider.com TOP10 reporting solid results that augur well for full year’s profit. Limners and Bards delivered disappointing first quarter results of a mere $7 million, down from $66 million in 2022, as revenues dropped sharply from $443 million to $248 million. Lumber Depot suffered a decline in revenues for the January quarter, with a decline in profit and Blue Power reported an increase in revenues year over year, with a profit rising for their third quarter to January, with profit slipping for the nine months.
Performance in the past week for the Junior Market TOP10 saw four stocks rising and three falling. AMG Packaging gained 16 percent to $2.90, followed by Everything Fresh with a 5 percent gain, Lasco Distributors gained 4 percent to $2.74. Tropical Battery lost 10 percent of its value to close at $2.02 and Image Plus lost 4 percent to end at $1.85.
Stationery and Office Supplies is said to continue to enjoy buoyant business into 2023, rose 3 percent to $15 and dropped out of the Junior Market ICTOP10 along with AMG Packaging as Main Event and KLE Group replaced those that fell out, with the former posting strong first quarter results that point to earnings of $1.80 for the year. KLE is now in, based on the fall in the stock price, but investment in the stock is not without above average risk. They are yet to release 2022 earnings, but they should benefit from pick up in business in their associated restaurant business in which they hold a 49 percent interest, with exposure in Montego Bay that will see added inflows from the considerable pick up in tourist patronage and should have income generated from managing the Bessa apartments in Oracabessa on the north coast of Jamaica.
The Main Market TOP10 saw the highest gaining stock rising just 3 percent while Jamaica Broilers dropped 12 percent to $33.50’ following some large trades in the week, Guardian Holdings followed with a fall of 6 percent to close at $480 and 138 Student Living being down by 4 percent to $5.01.
There have been no changes in the listing in the Main Market ICTOP10 this past week.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.4, well below the market average of 13.3, while the Junior Market Top 10 PE sits at 5.9 compared with the market at 11.3. The differences are important indicators of the likely gains for ICTOP10 stocks. The Junior Market is projected to rise by 245 percent and the Main Market TOP10 by an average of 282 percent, to May 2024, based on 2023 forecasted earnings.
The Junior Market has 12 stocks representing 25 percent of the market, with PEs from 15 to 24, averaging 18.3, well above the market’s average. The top half of the market has an average PE of 15.
The Main Market 18 highest valued stocks are priced at a PE of 18 to 115, with an average of 30 and 21 excluding stocks with the highest valuations and 20 for the top half excluding the stocks with the highest valuation. The above average shows the extent of potential gains for the TOP 10 stocks.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but not always. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks will likely deliver the best returns up to the end of May 2023 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate, resulting in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
More decline for JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Friday, with an 89 percent drop in the volume of stocks changing hands with an 81 percent lower value than on Thursday, resulting from trading in six securities, down from 10 on Thursday and ending with the price of just one rising, two declining and three ending unchanged.
Overall, 47,009 shares were traded, for US$5,749 compared with 430,568 units at US$30,840 on Thursday.
Trading averaged 7,835 units at US$958 compared to 43,057 shares at US$3,084 on Thursday, with a month to date average of 11,767 shares at US$3,044 compared to 12,020 units at US$3,178 on the previous day. February ended with an average of 43,793 units for US$2,015.
The JSE USD Equities Index lost 4.84 points to end at 190.40.
The PE Ratio, a measure used in computing appropriate stock values, averages 10.1. The PE ratio is computed based on the last traded price of each stock divided by projected earnings forecasts done by ICInsider.com for companies with their financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than the last selling prices and none with a lower offer.
At the close, Margaritaville had an exchange of 337 shares at 10.99 US cents, Proven Investments declined 2.5 cents in closing at a 52 weeks’ low of 16 US cents while exchanging 18,211 units, Sygnus Credit Investments ended at 10 US cents, with 25,179 stocks changing hands. Sygnus Real Estate Finance USD share ended at 7.18 US cents with investors transferring 20 stock units and Transjamaican Highway lost 0.01 of a cent to close at 0.94 of one US cent while 3,249 shares passed through the market.
In the preference segment, Productive Business Solutions 9.25% preference share rallied 40 cents in ending at US$12.90 after 13 stocks crossed the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.