Trading on Monday, with the volume of stocks traded declining 81 percent and the value diving 91 percent lower than on Friday, at the close of the Jamaica Stock Exchange US dollar market, resulting in five securities traded, compared to eight on Friday with one rising, two declining and two ending unchanged.
The JSE US Denominated Equities Index dipped 3.19 points to end at 206.47.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.7. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending up to August 2023.
Overall, 88,015 shares traded for US$8,502 compared to 457,523 units at US$96,524 on Friday. Trading averaged 17,603 units at US$1,700, compared to 57,192 shares at US$12,065 on Friday, with a month to date average of 38,169 shares at US$3,827 versus 39,617 units at US$3,977 on the previous day. June ended with an average of 71,901 units for US$8,793.
The investor’s Choice bid-offer indicator shows three stocks ended with bids higher than the last selling prices and two with lower offers.
At the close, First Rock Capital USD share ended unchanged at 6 US cents after trading at an intraday 52 weeks’ low of 5.51 US cents, with 23,666 shares clearing the market, Proven Investments rallied 1 cent in ending at 23 US cents after trading 28,076 stock units, Sterling Investments fell 0.04 of a cent to end at 2.11 US cents with 100 stocks changing hands. Sygnus Credit Investments USD share shed 1.58 cents to 11.4 US cents in exchanging 5,807 units and Transjamaican Highway finished at 0.95 US cents in an exchange of 30,366 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Stocks mostly fall on the JSE USD market
Steady trading on the Trinidad stock market
Market activity ended on Monday, with the volume of stocks traded declining 70 percent with the value down 35 percent compared to Friday, on the Trinidad and Tobago Stock Exchange, resulting in an exchange of 21 securities up from 14 on Friday, with four stocks rising, five declining and 12 remaining unchanged.
The Composite Index popped 0.96 points to 1,386.68, the All T&T Index advanced 0.68 points to 2,042.65 and the Cross-Listed Index rose 0.18 points to 95.87.
A total of 59,407 shares were exchanged for $962,848 versus 200,408 units at $1,484,655 on Friday. An average of 2,829 units traded at $45,850 compared to 14,315 shares at $106,047 on Friday, with trading month to date averaging 33,916 units at $315,444 versus 37,426 units at $345,882 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 two stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Agostini’s ended unchanged at $45.90 in an exchange of 221 shares, Ansa McAl rallied 84 cents to $56.90 and closed with 517 stock units changing hands, Ansa Merchant Bank finished at $42.50 in trading 111 units. CinemaOne remained at $5.98, with 15 stocks clearing the market, Clico Investment Fund declined 10 cents to $28.80 with an exchange of 12,434 stocks, First Citizens Group finished at $50 while trading 39 stock units. FirstCaribbean International Bank lost 1 cent to end at $5.49, with 925 units changing hands, GraceKennedy shed 1 cent to close at $5.46 after exchanging 330 shares, Guardian Media ended at $3.04 with the swapping of 780 stock units. JMMB Group advanced 11 cents in closing at $2.41 after 5,300 shares crossed the market, Massy Holdings dipped 1 cent to $4.99 after exchanging 22,088 stocks, National Flour Mills climbed 6 cents to $1.71 in switching owners for 300 units. NCB Financial Group remained at $5.25 in exchanging 7,000 units, Point Lisas finished at $3.40, with 58 stocks changing hands, Prestige Holdings rose 28 cents to end at $6.99 in trading 150 stock units. Republic Financial Holdings ended unchanged at $142 after exchanging 210 shares, Scotiabank ended trading of 3,550 stock units at $78, Trinidad & Tobago NGL remained at $21.48, with 1,985 units crossing the market. Trinidad Cement ended at $3.56 while exchanging 961 stocks, Unilever Caribbean fell 4 cents to close at $13.80 after trading 2,012 shares and West Indian Tobacco finished at $23.45, with 421 stock units crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
RJR jumps 19% out of ICTOP10
Investors mostly remained on the sidelines this past week, ahead of the release of the bulk of second quarter results, of which there were a few in the past week. Main Market VM Investments returns to the Top10 as Radio Jamaica dropped out with a price increase and a downward revision to projected earnings to 30 cents per share.
Even as RJR drops out of the TOP10, the stock has much room for more growth but not enough to keep it in the top ranks.
In the Junior Market, Caribbean Cream climbed 4 percent to $4.85, followed by a 5 percent rise for Medical Disposables and Caribbean Assurance Brokers.
Lasco Distributors fell 9 percent to $3.12, Lasco Financial slipped 7 percent to $2.84 and Elite Diagnostic slipped 4 percent to $3.55.
The Main Market, Radio Jamaica rebounded by 19 percent to $2.95, Jamaica Broilers was up 7 percent to $28.94 and Berger Paints rose 6 percent to close at $11.65. Sterling Investments and Sygnus Credit Investments fell by 5 percent to end at $2.75 and $14, respectively.
Investors should watch Dolphin Cove, Express Catering, General Accident, Jamaica Broilers, Lasco Distributors, Lasco Manufacturing and Stationery and Office Supplies. Dolphin Cove, Caribbean Producers, Express Catering will be significant beneficiaries of the strong rebound in tourist arrivals and the supply of General Accident has declined sharply over the past few weeks.
The average PE for the JSE Main Market TOP 10 is 6.2, well below the market average of 14.2, while the Junior Market Top 10 PE sits at 6.2 versus the market at 12.9. The Junior Market TOP10 is projected to gain an average of 225 percent to May 2023 and the Main Market 238 percent.
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 to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotions in selecting stocks that often result in costly mistakes.
IC TOP10 stocks are likely to 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.
Trading jumps for JSE USD Market
US dollar market trading on the Jamaica Stock Exchange closed Friday, with the volume of stocks traded jumping 214 percent and the value surging 297 percent above Thursday’s levels, resulting in eight securities trading, compared to seven on Thursday with two rising, four declining and two ending unchanged.
Overall, 457,523 shares traded for US$96,524, up from 145,561 units at US$24,336 on Thursday. Trading averaged 57,192 units at US$12,065, compared to 20,794 shares at US$3,477 on Thursday, with a month to date average of 39,617 shares at US$3,977 versus 37,385 units at US$2,950 on the previous day. June ended with an average of 71,901 units for US$8,793.
The JSE US Denominated Equities Index 1.26 lost points to end at 209.66.
The PE Ratio, a tool used to compute appropriate stock values, averages 8.8. The PE Ratios use 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 one with a lower offer.
At the close, First Rock Capital USD share dropped 1 cent to close at 6 US cents, with 94,082 shares clearing the market, Margaritaville lost 1.99 cents to end at 13 US cents in exchanging 15 units, Proven Investments shed 2.41 cents after ending at 22 US cents with an exchange of 268,403 stock units. Sterling Investments rallied 0.14 of a cent to 2.15 US cents, with 100 stocks crossing the market, Sygnus Credit Investments USD share gained 0.98 of one cent in closing at 12.98 US cents, with 84,642 units changing hands, Sygnus Real Estate Finance USD share fell 0.25 of a cent to end at 13.15 US cents, with 16 shares crossing the exchange and Transjamaican Highway remained at 0.95 US cents while exchanging 812 stocks.In the preference segment, JMMB Group 5.75% finished at US$2.03 after exchanging 9,453 stock units.Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Dolla profit jumps sharply over 2021
Dolla Financial ended the second quarter with a profit after tax of $59 million, similar to the first quarter after revenues rose from $141 million in the first quarter to $157 million. Interest expenses increased to $13.7 million from $12.8 million in the March quarter. But it is an $18 million jump in Administrative expenses held back profit from exceeding the first quarter numbers.
Roughly $18 million in increased administrative costs relates to the listing of the shares on the stock exchange and some other expenses associated with the IPO that are booked as a part of Administrative. ICInsoder.com gathers that cost to fall back to the $60 million level in the third quarter.
Year to date revenues are $298 million versus $108 million in 2021, while the June 2021 quarter delivered revenues of $54 million with a small profit of $9 million.
The third quarter should see a notable increase in loan income, with the IPO proceeds would only have been available in June, with the IPO closing on May 27. As such, revenues should climb by around $25 million in the September quarter and profit should hit $100 million for the quarter.
The balance sheet shows loans of $1.05 billion, up from $870 million at the end of March, Cash stood at $81 million and shareholders’ equity rose from $373 million to $653 million, reflecting the new capital injection from the IPO as well as the profit for the quarter. ICInsider.com understands that they have lent out all the funds received and are preparing to float a billion dollar bond to facilitate expansion. Loans payable amount to $429 million at the end of June, slightly down from the $452 million at the end of March but well up on the $296 million in June 2021.
The company plans to open a branch in Portmore in the current quarter and another in Guyana.
Earnings per share for the quarter was 2 cents and year to date just over 5 cents. ICInsider.com forecasts 20 cents per share for the current year and 35 cents for 2023.
Dolla Financial traded on the Junior Market at $2.87 after investors swapped 643,451 shares.
Trading rises market indices fall
Market activity ended on the Trinidad and Tobago Stock Exchange on Friday, with the volume of stocks traded rising 11 percent more after a 56 percent surge in the amount of funds passing through than on Thursday.
A total of 14 securities were traded compared to 11 on Thursday, with three stocks rising, five declining and six remaining unchanged. The Composite Index lost 4.74 points to end at 1,385.72, the All T&T Index declined 0.16 points to 2,041.97 and the Cross-Listed Index dropped 1.35 points to close at 95.69.
A total of 200,408 shares were exchanged for $1,484,655 versus 180,498 units at $950,429 on Thursday. An average of 14,315 units traded at $106,047 compared to 16,409 shares at $86,403 on Thursday, with trading month to date averaging 37,426 units at $345,880 versus 39,307 units at $365,404 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 two stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Angostura Holdings dropped 50 cents in closing at $24.50 after trading 58 shares, Clico Investment Fund gained 10 cents to end at $28.90 with the swapping of 10,809 units, First Citizens Group ended unchanged at $50 in an exchange of 67 stocks. GraceKennedy rallied 15 cents after ending at $5.47 and exchanging 3,603 stock units, Guardian Holdings declined 4 cents to close at $27.26 with 1,542 shares changing hands, JMMB Group finished at $2.30, with 11,462 units crossing the market. L.J. Williams B share remained at $2.15 as one stock unit passed through the exchange, Massy Holdings lost 7 cents ending at $5 in trading 162,396 stock units, National Enterprises finished at $3.20 while exchanging 3,100 units. NCB Financial Group shed 20 cents to $5.25 in an exchange of 1,000 shares, Republic Financial Holdings rose $1 in closing at $142 with 586 stocks changing hands, Scotiabank remained at $7 after trading 772 stock units. Trinidad & Tobago NGL fell 2 cents to close at $21.48, with 4,611 stocks clearing the market and West Indian Tobacco ended unchanged at $23.45 in switching ownership of 401 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.