Transjamaican Highway stock closed trading on Wednesday with a gain of 105 percent at a record close of $2.87 on Wednesday and traded at a record $2.95, up 111 percent on Thursday morning, to be one of only two stocks on the Main Market of the Jamaica Stock Exchange to gain more than 100 percent for the year to date, the other being Ciboney up 139 percent.
New record high for the JSE Junior Market.
Investors in Transjamaican, the operators of Highway 2000 have much more to cheer about as the company raised the dividend to be paid in October by 118 percent to 18.66 cents up from 8.55 cents last year. The dividend adds another 13 percent to their return for 2023 based on the opening price for the year of $1.40. While the 2023 performance is a big reward for investors in the stock, it has been a long wait for early investors who bought in the IPO at $1.41 in February 2020, valued then at a PE ratio of 25 times, when the market was averaging 16 times. Critics of the value at the time indicated the serious overvaluation but supporters hailed it as reasonably priced. Now the stock is trading at less than 10 times 2023 earnings of 30 cents per share and buyers have been less than ecstatic about it, by slowly driving the share price to current levels over several months.
Transjamaican Highway
The stock’s performance is supported by an outstanding jump in profits for the six months to June over the similar period last year, with earnings of 14 cents per share versus just 3 cents for the same period last year, with the profit ballooning 338 percent for the June quarter to US$6 million and 442 percent to US$11 million for the half year. Revenues and profit rose as a result of the acquisition of its new subsidiary, Jamaican Infrastructure Operators which reduced cost considerably as well and the group benefitted from increased revenues from operating the toll road. The stock’s performance was also helped by the declaration of the substantial increase in dividend.
Investors exchanged 418,746 shares for $4,821,091 up from 122,598 stock units at $1,058,112 on Wednesday.
At the close, Agostini’s ended at $68.50 with investors trading in 2,210 shares, Angostura Holdings rose 1 cent to $22.98 with an exchange of 21 stock units, Ansa McAl skidded 30 cents to close at $57.20, with 1,001 units clearing the market, Calypso Macro Investment Fund shed $1 in closing at $22.50 with shareholders swapping 4,000 stocks. First Citizens Group remained at $49 with traders dealing in 2,626 stocks, FirstCaribbean International Bank gained 3 cents to $7 in switching ownership of 5,500 shares, GraceKennedy ended at $3.40, with 47,301 stocks crossing the market, Guardian Holdings rallied 5 cents to end at $19.05 after a transfer of 2,037 units. JMMB Group declined 2 cents in closing at a 52 weeks’ low of $1.41 after 32,500 stock units crossed the market, Massy Holdings advanced 11 cents to close at $4.95 with stakeholders exchanging 178,446 stocks, National Enterprises remained at $3.55 with 90,855 shares changing hands, NCB Financial fell 1 cent and ended at $2.99 as investors exchanged 18,250 units. 
One Caribbean Media dipped 4 cents in closing at $3.78 with 120 stock units changing hands, Point Lisas climbed 44 cents to end at a 52 weeks’ high of $3.50 in an exchange of 340 units, Republic Financial remained at $120 in trading 14,807 shares, Scotiabank lost 1 cent to close at $72.50 closed after 13,972 stocks were traded. Trinidad & Tobago NGL dipped 1 cent to a 52 weeks’ low of $12.99, with 3,978 shares crossing the exchange, Unilever Caribbean increased 17 cents in closing at $11.77 after 570 stock units passed through the market and West Indian Tobacco ended at $10.06 after an exchange of 212 units.
Overall, 268,786 shares were traded, for US$4,988 compared to 252,693 units at US$10,412 on Tuesday.
At the close, First Rock Real Estate USD share climbed 0.12 of a cent to 4.2 US cents in an exchange of 5,383 shares, Sterling Investments dipped 0.05 of a cent to close at 1.7 US cents in an exchange of 8,900 units. Sygnus Credit Investments remained at 9.02 US cents in an exchange of 22 stocks, Sygnus Real Estate Finance USD share ended at 10 US cents after exchanging 990 stock units and Transjamaican Highway lost 0.1 of a cent and ended at 1.7 US cents after 253,491 shares passed through the market.
A total of 21,242,982 shares were traded for $150,463,331 up from 8,077,700 units at $48,668,636 on Tuesday.
The All Jamaican Composite Index lost 1,589.24 points to end at 351,459.43, the JSE Main Index shed 2,331.49 points to settle at 320,948.76 and the JSE Financial Index slipped 0.93 points to settle at 71.06.
GraceKennedy rallied 50 cents in closing at $75.50 in switching ownership of 23,408 stocks, Jamaica Stock Exchange rose 30 cents in closing at $9.90, with 16,015 stock units clearing the market, Kingston Properties advanced 37 cents to end at $6.77 after an exchange of 89 units, Kingston Wharves climbed 41 cents to $30, with 1,868 shares crossing the market. Mayberry Investments rose 43 cents and ended at $7.43 after exchanging 63,649 stocks, NCB Financial lost $2.99 to close at $64.51 as investors exchanged 13,632 stock units, Proven Investments declined 36 cents to close at $20.15 after a transfer of 3,389 units, Salada Foods popped 35 cents and ended at $3 with shareholders swapping 9,800 shares. Scotia Group rallied 44 cents to end at $33.94 in trading 81,862 units, Seprod popped $4.18 in closing at $74.18 with an exchange of 1,233 stock units and Wisynco Group increased $1.12 to $18.45 in an exchange of 345,315 stocks.
In the preference segment, Eppley 7.50% preference share climbed 42 cents to $6.01 with investors dealing in 473 shares, 138 Student Living preference share advanced $15.32 and ended at $120.32 one share changing hands and Productive Business Solutions 9.75% preference share shed $2 to close at $98 with a transfer of 69 units.
Investors traded 8,848,848 shares at $20,102,884 compared with 7,403,059 units at $14,802,391 on Tuesday.
At the close, the Junior Market Index dropped 79.03 points to finish at 3,819.29.
Dolla Financial increased 11 cents to close at $2.25 in an exchange of 915,854 stock units, Dolphin Cove popped 33 cents to end at $16.34, with 522 units changing hands, Fontana dipped 25 cents and ended at $10.74 with 42,597 stocks clearing the market, Honey Bun rallied 42 cents in closing at $6.77 after 600 shares changed hands. Indies Pharma lost 34 cents to end at $2.80 and closed with 12,314 units being traded, ISP Finance jumped $5.50 to close at $35.50 while exchanging 4,492 stock units, Jamaican Teas climbed 22 cents to end at $2.33 with investors transferring 2,767,534 shares, Knutsford Express gained 50 cents to close at $12.50 with stakeholders exchanging 22,724 stocks. Mailpac Group climbed 14 cents and ended at $2 with an exchange of 3,042,059 units, Main Event advanced 99 cents to $15.99 with a transfer of 1,282 stock units, 
MFS Capital Partners fell 50 cents in closing at $2 as 268,537 stocks passed through the market, Paramount Trading dropped 25 cents to close at $1.74 in switching ownership of 2,119 shares and tTech popped 24 cents to $2.45 after a transfer of 6 stocks.
Investors exchanged 122,598 shares for $1,058,112 down from 138,059 stock units at $2,781,930 on Tuesday.
At the close, Agostini’s remained at $68.50, with 4 shares changing hands, Angostura Holdings slipped 1 cent to end at $22.97 after an exchange of 40 units, Ansa McAl rose 25 cents to $57.50 after 2 stocks changed hands, First Citizens Group dipped 1 cent in closing at $49 after trading 862 stock units. FirstCaribbean International Bank shed 2 cents to close at $6.97, with 2,000 stocks crossing the market, GraceKennedy advanced 10 cents and ended at $3.40 with investors dealing in 4,000 stock units, Guardian Holdings skidded 5 cents to end at $19 after a transfer of 13,451 units, JMMB Group rallied 2 cents to close at $1.43 with stakeholders exchanging 5,201 shares. Massy Holdings slipped 1 cent to $4.84 with an exchange of 12,380 shares, National Enterprises fell 5 cents in closing at $3.55 after an exchange of 75,672 stocks, 
Point Lisas lost 24 cents to close at $3.06, with 500 stock units crossing the market, Republic Financial dipped 1 cent and ended at a 52 weeks’ low of $120 with a transfer of 2,111 units. Scotiabank ended at $72.51 in an exchange of 1,062 stocks, Trinidad & Tobago NGL gained 10 cents to close at $13 after 3,071 stock units changed hands, Trinidad Cement fell 1 cent to end at $3.13 with traders dealing in 14 shares, Unilever Caribbean skidded 20 cents in closing at $11.60, with 500 units clearing the market and West Indian Tobacco popped 1 cent to close at $10.06 in trading 1,728 stock units.
Overall, 252,693 shares were traded, for US$10,412 compared to 266,503 units at US$6,378 on Monday.
Sygnus Credit Investments remained at 9.02 US cents in trading 8,054 stocks, Sygnus Real Estate Finance USD share ended at 10 US cents with investors dealing in 208 shares and Transjamaican Highway skidded 0.03 of a cent to 1.8 US cents while exchanging 239,395 units.
A total of 8,077,700 shares were traded for $48,668,636 compared with 10,318,659 units at $87,662,978 on Monday.
The Main Market ended trading with an average PE Ratio of 12.2. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2024.
Jamaica Stock Exchange increased 60 cents to close at $9.60 after 7,627 units passed through the market, JMMB Group fell $2.26 and ended at $27.30 in an exchange of 50,094 shares, Kingston Properties skidded $1.10 in closing at $6.40 in trading 150,600 stock units, Kingston Wharves dropped 41 cents to $29.59 with a transfer of 4,588 stocks. Massy Holdings skidded $2.80 to close at $100.10 after a transfer of 5,247 units, NCB Financial dipped 99 cents and ended at $67.50 with shareholders swapping 10,276 shares, Proven Investments fell $1.46 to end at $20.51, with 3,082 stocks crossing the exchange, Sagicor Group shed $2 and ended at $45 in switching ownership of 166,783 stock units. Salada Foods declined 39 cents in closing at $2.65 after trading 400 stocks, Seprod lost $4.50 to end at $70 with investors transferring 7,249 stock units, Stanley Motta shed $1.05 to close at $5.30 with 826 shares clearing the market and Wisynco Group skidded 67 cents to end at $17.33 after 29,314 units crossed the market.
In the preference segment, Eppley 7.50% preference share dipped 58 cents to end at $5.59 with traders dealing in 116 stocks and Jamaica Public Service 7% declined $7.25 to $41.15 and closed with 400 shares being traded.
At the close, the Junior Market Index fell 9.14 points to finish at 3,898.32.
Express Catering advanced 17 cents to close at $4.77 with 6,424 stock units being traded, Fontana rose 34 cents to close at $10.99 with traders dealing in 42,106 units, Fosrich lost 11 cents to end at $2.35 after an exchange of 42,990 stocks, Future Energy climbed 15 cents and ended at $3.65, with 149,465 shares crossing the exchange. Honey Bun shed 44 cents to $6.35 with a transfer of 10,145 stock units, Indies Pharma gained 14 cents in closing at $3.14 after 1,002 stocks passed through the market, ISP Finance dipped $3.97 in closing at $30 after an exchange of 889 shares, Knutsford Express skidded 50 cents to $12, with 59,372 units changing hands. Lumber Depot increased 15 cents to end at $2.45 after 107,100 stocks crossed the market, Main Event increased $1.50 to close at $15 after trading of 60,400 units, 
MFS Capital Partners climbed 41 cents and ended at $2.50 with investors dealing in 129,159 shares and Tropical Battery popped 8 cents to end at $1.93 in switching ownership of 54,234 stock units.
Investors exchanged 138,059 shares for $2,781,930 versus 1,133,869 stock units at $5,285,656 on Monday.
Endeavour Holdings ended at $13, with investors exchanging 57 stocks. First Citizens Group popped 1 cent and ended at $49.01 with investors transferring 8,166 shares, FirstCaribbean International Bank shed 1 cent to end at $6.99 after 100 stocks were traded, Guardian Holdings dipped 5 cents in closing at $19.05, with 310 stock units crossing the market, Guardian Media ended at $2.01 with traders dealing in 805 units. JMMB Group slipped 1 cent to close at $1.41 with an exchange of 18,013 units, L.J. Williams A share rallied 1 cent and ended at a 52 weeks’ high of 21 cents with 1,000 shares clearing the market, Massy Holdings remained at $4.85 after an exchange of 33,119 stock units, National Enterprises increased 5 cents to $3.60, with 4,623 stocks changing hands. National Flour Mills fell 1 cent to end at $1.52 with shareholders swapping 700 units,
NCB Financial popped 23 cents to close at $3 while exchanging 10,200 shares, One Caribbean Media rose 12 cents to $3.82 as investors exchanged 170 stocks, Prestige Holdings ended at $8.50 in trading 260 stock units. Republic Financial inched 1 cent up to close at $120.01 with a transfer of 3,436 shares, Scotiabank ended at $72.51 after a transfer of 3,334 units, Trinidad & Tobago NGL ended at $12.90 with investors trading 28,158 stocks, Unilever Caribbean gained 1 cent to end at $11.80 in an exchange of 12 stock units and West Indian Tobacco lost 15 cents and ended at $10.05 with stakeholders exchanging 7,392 units.
