Market activity on the Jamaica Stock Exchange Main Market ended on Wednesday, with the volume of stocks traded declining 29 percent with a 35 percent lower value than on Tuesday as rising stocks exceeded those declining after 58 securities similar to Tuesday, with 23 rising, 17 declining and 18 ending unchanged.
A total of 7,990,603 shares were exchanged for $59,730,167 versus 11,308,755 units at $91,516,185 on Tuesday. Trading averages 137,769 units at $1,029,830, compared to 194,979 shares at $1,577,865 on Tuesday and month to date, an average of 173,592 units at $1,588,001, compared to 176,489 units at $1,633,153 on the previous trading day. June closed with an average of 281,913 units at $5,309,050.
Wigton Windfarm led trading with 3.75 million shares for 46.9 percent of total volume, followed by Transjamaican Highway with 828,398 units for 10.4 percent of the day’s trade and Supreme Ventures with 499,205 units for 6.2 percent market share.
The All Jamaican Composite Index shed 100.26 points to settle at 435,389.78, the JSE Main Index added 34.28 points to end at 380,670.30 and the JSE Financial Index dropped 0.21 points to settle at 90.34.
The PE Ratio, a formula to ascertain appropriate stock values, averages 14.1 for the Main Market. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years, ending up to the close of August 2023.
Investor’s Choice bid-offer indicator shows eight stocks ended with a bid higher than their last selling prices and three stocks with lower offers.
At the close, Berger Paints climbed 55 cents to $12.20, with 788 shares changing hands, Caribbean Cement gained $1.99 to close at $63.99 in exchanging 17,694 units, Eppley declined $1.50 in closing at $39.50 after trading 802 stock units. Eppley Caribbean Property Fund shed $3 in ending at $40 after an exchange of 2,341 stocks, Guardian Holdings increased $1.01 to end at $518 in trading 736 shares, Jamaica Producers lost 90 cents in closing at $21 after exchanging 9,426 stocks. Mayberry Investments popped 49 cents to close at $10.49 with the swapping of 308 units, MPC Caribbean Clean Energy advanced $4.42 to end at $102 while exchanging one stock unit, Palace Amusement fell $52 to $828 and finished trading one stock unit. PanJam Investment rose $1.19 to $65.19, with 14,004 shares clearing the market, Portland JSX rallied 50 cents to end at $10.50 with one share crossing the market, Scotia Group dropped $1 to $37 in switching ownership of 228 stock units. Seprod gained $3.23 at $71.30, with 12,522 shares crossing the exchange, Supreme Ventures increased $1.51 to close at a 52 week s’ high of $34.50 with an exchange of 499,205 stock units, Sygnus Real Estate Finance dropped $1.95 in closing at a 52 week s’ low of $11.05, with 9,700 units crossing the market and Wisynco Group declined 50 cents in closing at $18.75 with 238,799 stocks changing hands.
In the preference segment, Productive Business Solutions 9.75% preference share dropped $26.94 to $80.01 in trading 996 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Declining stocks beat winners
Trading on the Jamaica Stock Exchange US dollar market on Wednesday ended with the volume of stocks traded rising 40 percent with 37 percent lower value than on Tuesday, resulting in eight securities trading, similar to Tuesday with two rising, four declining and two ending unchanged.
The JSE US Denominated Equities Index fell 0.99 points to close at 211.23. The PE Ratio, a measure used in computing appropriate stock values, averages 8.5. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending up to August 2023.
Overall, 102,227 shares traded for US$5,437 compared to 73,220 units at US$8,686 on Tuesday.
Trading averaged 12,778 units at US$680, compared to 9,153 shares at US$1,086 on Tuesday, with a month to date average of 33,438 shares at US$3,315 versus 35,405 units at US$3,566 on the previous day. June ended with an average of 71,901 units for US$8,793.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and one stock with a lower offer.
At the close, First Rock Capital USD share ended unchanged at 6 US cents with the swapping of 26,896 shares, Margaritaville dropped 2 cents to 10 US cents with an exchange of 12,514 stocks, Proven Investments shed 0.12 of a cent in ending at 24.13 US cents after trading 909 stock units. Sterling Investments fell 0.11 cents to 2 US cents with 4,700 units changing hands, Sygnus Credit Investments USD share increased 0.58 of one cent to end at 12 US cents with 9,412 shares clearing the market, Sygnus Real Estate Finance USD share fell 0.15 of a cent in closing at 13 US cents after finishing trading 383 stocks and Transjamaican Highway ended at 0.95 of one US cent, with 46,834 units crossing the market.
In the preference segment, JMMB Group 6% rallied 0.13 of a cent to US$1.10 while exchanging 579 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Stocks eke out meagre gains in Trinidad
Market activity ended on Wednesday on the Trinidad and Tobago Stock Exchange, with the volume of stocks traded rising moderately above Tuesday’s levels after the value plunged 70 percent as the number of securities traded fell to 15 against 20 on Tuesday, with six rising, four declining and five remaining unchanged.
The Composite Index lost 0.13 points to close at 1,387.51, the All T&T Index increased 1.34 points to 2,046.81 and the Cross-Listed Index shed 0.24 points to settle at 95.49.
A total of 215,867 shares traded for $994,838 versus 217,209 units at $3,511,616 on Tuesday. An average of 14,391 units traded at $66,323 compared to 10,860 shares at $175,581 on Tuesday, with trading month to date averaging 30,777 units at $288,443 versus 31,885 units at $283,626 on the previous trading day. The average trade for June amounts to 55,705 units at $392,249.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and one stock with a lower offer.
At the close, Angostura Holdings increased 50 cents to $25, with 3,918 shares crossing the exchange, Clico Investment Fund remained at $28.90 with 500 stock units crossing the market, First Citizens Group rallied 75 cents to $50 with an exchange of 270 stocks. FirstCaribbean International Bank advanced 3 cents in closing at $5.48 after trading 2,898 units, GraceKennedy declined 14 cents to end at $5.32 with the swapping of 5,000 shares, Guardian Holdings ended unchanged at $27.25 in switching ownership of 2,339 units. JMMB Group fell 11 cents to $2.30 while exchanging 137,220 stocks, Massy Holdings finished at $4.99 after trading 12,498 stock units, NCB Financial Group shed 10 cents to close at a 52 weeks’ low of $5.15, with 13,632 stocks changing hands. Point Lisas dipped 1 cent to $3.39 after 300 units crossed the market, Prestige Holdings climbed 28 cents in closing at $6.99 in exchanging 10,537 shares, Republic Financial Holdings rose 26 cents after ending at $141.32 with 278 stock units clearing the market. Trinidad & Tobago NGL remained at $21.80 after trading 5,459 stocks, Trinidad Cement gained 31 cents to end at $3.87 in an exchange of 20,978 stock units and West Indian Tobacco finished at $23.40 trading 40 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Gains for the JSE USD market
Trading on the Jamaica Stock Exchange US dollar market ended on Tuesday, with the market index rising 5.75 points to 212.22 after eight securities were traded, compared to five on Monday with four rising, one declining and three ending unchanged.
Overall, 73,220 shares were traded for US$8,686 compared to 88,015 units at US$8,502 on Monday. Trading averaged 9,153 units at US$1,086, versus 17,603 shares at US$1,700 on Monday, with month to date average of 35,405 shares at US$3,566 versus 38,169 units at US$3,827 on the previous day. June ended with an average of 71,901 units for US$8,793.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.6. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending up to August 2023.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and three with lower offers.
At the close, First Rock Capital USD share ended unchanged at 6 US cents after exchanging 54,700 shares, Margaritaville declined 1 cent to end at 12 US cents in trading 430 stock units, Proven Investments increased 1.25 cents to close at 24.25 US cents, with 6,755 stocks crossing the exchange. Sygnus Credit Investments USD share popped 0.02 of a cent in ending at 11.42 US cents in exchanging 10,000 units and Transjamaican Highway remained at 0.95 of one US cent, with four stock units changing hands.
In the preference segment, Eppley 6% preference share rose 16.9 cents in ending at US$1.296 after trading 46 shares, JMMB Group 5.75% finished at US$2.03, with 1,251 units crossing the market and JMMB Group 6% gained 8.77 cents to US$1.0987 in switching ownership of 34 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading picks up for Trinidad stocks
Trading surged on the Trinidad and Tobago Stock Exchange on Tuesday, with the volume of stocks traded surging 256 percent and the value jumping 248 percent more than on Monday after 20 securities traded compared to 21 on Monday, with two stocks rising, eight declining and ten remaining unchanged.
The Composite Index climbed 0.96 points to 1,387.64 the All T&T Index advanced 2.82 points to 2,045.47 and the Cross-Listed Index dipped 0.14 points to close at 95.73.
A total of 217,209 shares were traded for $3,511,616 compared with 59,407 units at $962,848 on Monday. An average of 10,860 units traded at $175,581 compared to 2,829 shares at $45,850 on Monday, with trading month to date averaging 31,885 units at $303,121 versus 33,916 units at $315,444 on the previous trading day. The average trade for June amounts to 63,148 units at $485,588. June amounts to 55,705 units at $392,249.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than their last selling prices and none with a lower offer.
At the close, Agostini’s ended unchanged at $45.90, with 42 shares crossing the market, Angostura Holdings finished at $24.50 with the swapping of 88 stocks, Calypso Macro Investment Fund fell 3 cents in ending at $20.20 in exchanging 80 units. Clico Investment Fund popped 10 cents to $28.90 in trading 5,639 stock units, First Citizens Group declined 75 cents to close at $49.25 with 1,078 units clearing the market, FirstCaribbean International Bank dropped 4 cents to close at $5.45 in switching ownership of 1,000 stocks. GraceKennedy remained at $5.46 with an exchange of 97 stock units, Guardian Holdings shed 1 cent to end at $27.25, with 10,254 shares crossing the exchange, Guardian Media remained at $3.04 trading 1,018 units. L.J. Williams B share finished at $2.15 while exchanging one stock unit, Massy Holdings ended at $4.99 and closed with 78,129 stocks changing hands, National Enterprises cloed at $3.20 in an exchange of 768 shares. NCB Financial Group finished at $5.25 after 8,208 shares passed through the market, Point Lisas ended unchanged at $3.40 in exchanging 580 stocks, Prestige Holdings lost 28 cents to end at $6.71 after exchanging 211 units. Republic Financial Holdings dropped 94 cents to $141.06, with 660 stock units changing hands, Scotiabank ended unchanged at $78 after exchanging 1,549 stocks, Trinidad & Tobago NGL rose 32 cents in closing at $21.80 with the swapping of 96,980 stock units. Unilever Caribbean declined 65 cents to end at a 52 weeks’ low of $13.15 and closed with 2,288 units changing hands and West Indian Tobacco fell 5 cents to close at $23.40 after 2,820 shares crossed the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
SOS dividend consideration sends stock price flying
Stationery & Office Supplies announced that the board of directors will consider the payment of a dividend at a meeting to be held on August 9, 2022 and with the stock price closing at a 52 weeks’ high of $15 and seems to be heading higher.
The company last paid a dividend of 16 cents per share on December 7 last year. The early announcement caught the market by surprise as investors bought 303,359 shares up to a 52 weeks’ high of $15, with the stock closing with the bid at $15.84 and the offer at $17.90 and gaining 135 percent for the year to date.
The likely early payment is signalling that the company could be switching to twice a year payout as well as the fact that the good results evident in the first quarter is continuing into the rest of the year.
Some observers are of the view that the dividend announcement by itself was unlikely to move the stock price by the amount in today’s trading and think investors are sensing a stock split.
With the stock price having risen and seems set to go higher the price is clearly entering into a split territory, considering that there are just 250 million shares issued with the top 10 holdings accounting for 90 percent and leaving only about 25 million units that are likely to trade short term. The possibility of a stock split coming up for discussion at the meeting considering a dividend seems probable but such an action if it were to occur would have to be communicated to the Jamaica Stock Exchange ahead of any meeting at which it was to be approved.
The March quarter profit rose 90 percent to $105 million over that for 2021 and ICinsider.com forecast earnings of $1.70 for the current year.