Shuffling of stocks in the TOP 10 list was quite pronounced this past week with two companies exiting and entering each list. Jetcon Corporation and CAC 2000 slipped out of the Junior Market TOP 10, and were replaced by Dolphin Cove and Lasco Financial.
Entering the TOP 10 main market list are Berger Paints, returning after a recent fall from the list and Grace Kennedy that dropped out previously.
In the main market of the Jamaica Stock Exchange, Scotia Investments earnings per share have been sharply reduced with the latest results for the half year showing no growth, with the stock falling off the
TOP 10 list as a result, while Salada Foods price rose to $10, resulting in it being pushed off the list.
In trading last week, tTech demand is building while selling has eased with limited supply being shown in the market. Elsewhere, NCB Financial Group is hitching for a major breakout from a wedge formation.
As indicated in recent weeks, market movement continues to be constrained by near term resistance levels which is acting as short term restraint to a break out from current levels for the time being.
The average PE ratio for the Junior Market Top stocks is 7.4 and 7.2 in the main market, these compare favourably with 13.8 for the overall main market and 13 for Junior Market, based on 2017 estimated earnings. Several stocks are trading below the average, and have the potential for more gains for the rest of 2017, barring major negative developments.
In a number of cases, the TOP stocks will need to deliver results in the upcoming quarter in order to send a message that the potential they have will be manifested.
At the close of the week, IC Insider.com’s TOP 10 Junior Market stocks now trade at an average discount of 45 percent to the Junior Market average, while those in the main market are trading at a 48 percent discount, to the average of the market, leaving stocks with room for growth in the months ahead. At the end of April the reading was 35 percent discount for the juniors and 53 percent for the majors.
Berger & Scotia Group jump TOP 10
Scotiabank jumped out of TOP 10.
The main market of the Jamaica Stock Exchange, moved forward on each day of the past week except for a fall on Thursday to sit close to the all-time high on Friday. Movement in the Junior Market was up and down but a few stocks traded at new highs during the week.
In the main market, IC Insider downgraded the earnings of Carreras to $9 after the company reported full year results, the stock jumped to a record $89 at the close of the week and is out of the top listing. Carreras exit allowed for Jamaica Broilers to return to the main market listing. Jetcon Corporation returns to the Junior Market list and Lasco Financial moves out of the TOP 10.
The week’s movement continue to be constrained by near term resistance levels which could be acting as short term restraint to a break out from current levels.
The average PE ratio for the Junior Market Top stocks is 7.5 and 6.8 in the main market, these compare favourably with 13.7 for the overall main market and 13.4 for Junior Market, based on 2017 estimated earnings. With several stocks trading below the average, the potential for more gains for the rest of 2017 seems positive, barring any major negative developments.
In the main market, decline in the prices of Seprod down to $30 and Sterling Investments to $15.50 moved them into the top list and replaced Berger Paints and Scotia Group that maintained their prices and are now some distance from the top list.
Recent TOP 10 listings that remain just below the top spots include Access Financial that hit a new record high close of $50 and Blue Power up to $55 at the close of the week.
Berger & Scotia Group drop TOP 10
Image courtesy of suphakit73/FreeDigitalPhotos.net
The two main markets of the Jamaica Stock Exchange, pulled back this past week as the volatility in the price of some stocks resulted in shifts in the position of some stocks in the TOP 10. Movements were not enough to change the Junior Market list, even as Caribbean Producers saw a 25 percent fall during the week with heavy volume, the stock enjoyed partial recovery by weekend.
This week’s pull back, seems to support the comment last week, “that both markets are trading close to recent resistance levels which could act as a short term restraint on upward movement.”
In the main market, decline in the prices of Seprod down to $30 and Sterling Investments to $15.50 moved them into the top list and replaced Berger Paints and Scotia Group that maintained their prices and are now some distance from the top list.
The average PE ratio for the Junior Market Top stocks is 7.5 and 6.8 in the main market, these compare favourably with 13.7 for the main market and 13.4 for Juniors, based on 2017 estimated earnings. With several stocks trading below the average, the potential for more gains for the rest of 2017 seems positive, barring any major negative developments.
Recent TOP 10 listings remain just below the top spots with Access Financial, Jetcon Corporation, AMG Packaging, Dolphin Cove, Caribbean Cream and Blue Power sitting just below, with potential gains of more than 100 percent and in the main market, Grace Kennedy and Sagicor Group are just below the Top spots with good potential gains ahead.
The history of the Top stock performance indicates that, it takes a few months for most of the stocks to reach potential targeted prices as they tend not to be the stocks favoured by a large segment of investors, in the short term.
At the close of the week, IC Insider.com’s TOP 10 Junior Market stocks now trade at an average discount of 44 percent to the Junior Market average, while those in the main market are trading at a 49 percent discount, to the average of the market, leaving several stocks with room for growth in the months ahead.
At the close of the week, bid volumes for junior market stocks remained relatively low ranging from a high of 66,436 units at $5.15 for Lasco Manufacturing with an offer of 16,685 units at $5.20, Access with a bid of 35,425 at $42.50, Caribbean Producers with 34,300 units on the bid at $3.50, with 100,000 shares on offer at $3.80. Key Insurance closed with 15,213 units on the bid at $2.90 and 51,361 offered at $3.80 and Lasco Financial ended the week with a bid of $4.05 to buy 24,000 units with 47,888 units being offered for sale at $4.40.
Seprod shares dropped from $45.10 in February to $30 on Friday.
Caribbean Cement had a bid to buy 54,903 units at $28.50 and offers of 7,850 shares at $29.95. Carreras had just 1,233 units on the bid at $77 with 4,954 shares being offered at $80, JMMB Group’s has bids to buy 8,272 units at $19.80 with an offer to sell 6,224 shares at $20, Radio Jamaica bid ended trading at $1.68 to buy 883 units with 30,000 units on offer at $1.79 while Scotia Investments closed the week with 14,753 units on the bid to buy at $36.50 and 14,049 units offered for sale at $37.85. Interest in Seprod has fallen with only 250 units on the bid at $29.50 and selling of 95,352 units at $30, this is way off from the 52 weeks’ high of $45 the stock sold at late February this year.
Pulse & ISP exit TOP 10 with big gains
I$P Finance hits a new high of $35 on Wednesday up 1,650% since listing last year March.
The Jamaica Stock Exchange, two main markets hit new highs on several days over the past two weeks, with new records created during this past week as well. Both markets are trading close to recent resistance levels which could act as a short term restraint on upward movement.
With the average PE ratio of the markets trading around 13 based on 2017 estimated earnings and several stocks trading below, it just a matter of time for prices and the markets to move higher.
Recent market activity has been characterized by some sizable swings in prices for a number of stocks, these movements have pushed some stocks in and out of the top list. Most companies released results for the 2017 first quarter, in some cases IC Insider.com has revised the earnings based on the latest information contained in the results.
Earnings have been up graded for Caribbean Producers to 60 cents, for the 2018 fiscal year, based on the nine months’ performance to March, with the March quarter results pointing the way forward with an 8 percent increase in revenues and lower selling and administrative cost. 
In the main market, Berger Paints’ 2018 fiscal year earnings per share was up graded to $2, based on a strong finish to the 2017 results. Pulse Investments announcement of a 2 for 1 stock split to be considered by the board subject to approval at a meeting of shareholders, helped push the price up to $14.40 from $8.05 and out of the Top list after entering in November last year at $4. Jetcon Corporation entered at $6.09 on January 6 and is now at $15 and out of the top listing. Main Event entered at $2 and is now at $7.25 and ISP Finance entered at $8.50 and last traded at $28.
Recent TOP 10 listings remain just below the top spots with Access Financial, Jetcon, AMG Packaging, Dolphin Cove, Caribbean Cream and Blue Power sitting just below, with potential gains of more than 100 percent and in the main market, Grace Kennedy and Sagicor Group are just below the
Top spots with good potential gains ahead.
At the close of the week, IC Insider.com’s TOP 10 Junior Market stocks continue to trade at an average discount of 43 percent to the Junior Market average, those in the main market are trading at a 49 percent discount, to the average of the market, leaving several stocks with room for growth for the rest of the year.
The history of the performance of the TOP STOCKS indicates that in most cases, it takes a few months for the stocks to reach potential targeted prices unless there are extraordinary developments such as stock splits.
11 Junior Market stocks rise 8 fall
I$P Finance hits a new high of $22.99 on Tuesday
The Junior Market of the Jamaica Stock Exchange fell back again on Tuesday by 10.27 points to end at of 3,268.33 trading session of more than 1 million shares changing hands.
At the close of the market, the number of securities trading, inched up to 23 versus 20 on Friday with 11 securities advancing and 8 declining. Overall, 1,172,423 units valued at $10,317,500 changed hands, compared to 671,454 units valued at $5,978,378 on Monday. Trading ended with 4 stocks having bids higher than their last sale prices and 4 with lower offers. Two stocks ended trading at new closing highs.
The Junior Market ended trading with an average of 50,975 units for an average value of $448,587 traded, compared to 33,573 units for an average value of $298,919 on the previous trading day. The average volume and value for the month to date are 74,085 units and $573,358 while at the close of the prior day it was 77,936 units and $594,153. The average volume and value for April ended at 502,597 units and $2,768,003.
At the close of the market, Access Financial Services lost 10 cents and closed at $46.90 in trading 400 shares, AMG Packaging shed 16 
cents to close at $4.84 with 200 units changing hands, Cargo Handlers dipped 50 cents in trading 1,500 shares at $20, Caribbean Cream rose 35 cents and closed trading with 102,161 units at $7.85. Caribbean Flavours gained 90 cents in trading 30,000 units to end at $9.50, Caribbean Producers rose 10 cents trading 10,024 shares changing hands, to close at $3.90, Consolidated Bakeries lost 15 cents in trading 18,332 shares to close at $2.85, C2W Music had 10,000 units changing hands to close at 50 cents, Derrimon Trading fell 25 cents and ended at $8.25 with 4,905 shares changing hands, General Accident rose 10 cents and closed trading with 16,790 shares at $3.25, Honey Bun rose 10 cents with 76,556 shares changing hands, to close at $8, ISP Finance climbed $2.99 to end at a record closing high of $22.99 with 90,602 units changing hands. 
Jamaican Teas traded 7,900 shares, to close at $4.75, Jetcon Corporation dropped $1 and ended at $14 with 137,146 shares trading Knutsford Express traded 3,077 shares and gained $4 to end at a record close of $55. Lasco Distributors ended with 371,382 units trading with a loss of 30 cents at $7.15, Lasco Financial rose 40 cents and ended with 4,000 shares changing hands at $4.50, Lasco Manufacturing climbed 40 cents and closed at $5.50 while trading 88,171 shares, Main Event dropped 75 cents and ended trading 79,566 shares at $6.35, Medical Disposables climbed 50 cents and ended at $6.50 with 81,715 units trading, Paramount Trading ended with 500 shares changing hands at $3.05, tTech rose 20 cents and ended with 3,300 units changing hands at $7.20 and Eppley 8.25% preference share, traded 34,196 units to end at $6.10.
NCB & Berger could break out soon
NCB Financial Group’s shares looks like they could break into the $70 range soon.
is another stock worth watching with IC Insider.com upgrading earnings for the 2018 fiscal year starting April, to $1.90 from $1.60 previously used and 2017 earnings to $1.30 from $1.10. Berger ended the previous week with a last sale price of $12.20 but moved up by the end of the week to $14, closing with an offer of 1,453 units at $15 while 22,600 units are on the bid at $13.55.
The average PE ratio of both markets are currently at an average of 12, based on this year’s estimated. At the close of the markets on Thursday, IC Insider.com’s TOP 10 Junior Market stocks continue to trade at an average discount of just under 40 percent to the Junior Market average, those in the main market are trading just below 50 percent discount, leaving several stocks with good room for growth for the rest of the year.Release of 2017 first quarter results will be important in determining if the steep price discount will continue for much longer, or whether the historical May syndrome of reduced market interest came early this year and last until summer or after, similar to 2016.
Overall bid volumes for junior market stocks remained low at the close of the past week continuing the low levels at the close of the week before.
Caribbean Cement continues to trade with a heavy downside bias notwithstanding the rise in price for the week to $32, with last year’s first quarter results dated April 20, this year’s results could be out in the coming week and provide direction for the stock. JMMB Group’s buying interest is at $18.10 for 2,073 units on the bid and 409,862 units offered at $18.40, NCB Financial Group traded on Thursday at a new record high of $66.90 before pulling back to $65 at the close, supply seems low and could help the price move up ahead of second quarter results, that should be out before month end. The stock also traded at a new high in Trinidad this past week. Pulse Investments has offers to sell 245,639 units at $8 with buying at $7 for 1,000 shares, the same as for the prior week. Radio Jamaica bid is at $1.60 to buy 279,561 units with 100,940 units on offer at $1.75 and Scotia Investments closed the week with only 550 units on the bid to buy at $37 and 4,180 units offered at $39.40.
TOP 10 selling at steep discount
I$P hits a new high on Friday.
The PE ratio of both markets are currently at an average of 12 based on this year’s estimated earnings.
During the past week ISP Finance hit a new high of $15.50 up from $12.50 at the close of the previous week to gain 24 percent for the week and 675 percent since it was listed just over a year ago, and is now out of the TOP 10. The company reported earnings of 46 cents per share for the year to December 2016 with management suggesting growth in business in the order of 30 to 40 percent for the current year, that should lift earnings sharply.
Blue Power was eased out of the Top list for Juniors with Lasco Financial moving in to occupy the tenth spot, this past week. Access Finance that ended the previous week with the bid at $39, traded to end the past week at $34.25 to be back in the list.Overall bid volumes for junior and main market stocks remain low with the only one of the Top 10 stocks with a sizeable volume on the bid for junior stocks being Key Insurance, with 172,600 units on the bid at $2.50 which is well below the last traded price of $3. Lasco Distributors is next with 37,012 units on the bid at $6.61 and a last sale of $7.30. Blue Power has 17,856 units on the bid at $35 without any stocks on offer.
In the Main market, Barita Investments has limited buying interest at the current price with just 100 units on the bid at $6.86 and just 9,200 units on the offer at $7.70, this represents quite some change form the week past when the offers were at $7, which were taken out by buyers.Berger Paints ended with 2,500 units on the bid at $12.20 with 4,243 on offer at $12.30. Caribbean Cement’s weak demand continues in the mid-thirty dollar range, with the stock closing with only 2,340 units on the bid to buy at $31.50 while offers are at $32 to sell 53,579 units. JMMB Group’s buying is at $18.55 for 3,200 units on the bid and only 300 units offered at $18.98, Pulse Investments has offers for 245,639 units at $8 and buying at $7 for 1,000 shares while Radio Jamaica bid is at $1.60 to buy 280,761 units with 36,513 units on offer at $1.80 and Scotia Investments closed the week with 38,000 units on the bid to buy at $39.20 and 4,180 units offered at $39.40.
Juniors fall moderately – Wednesday
The junior market index dropped 10.57 points on Wednesday, to end at 3,044.98 with 21 securities changing hands, down from 22 on Tuesday with 6 advancing and 10 declining.
Trading fell back on Wednesday from Tuesday’s levels, with a volume of 1,676,664 units valued at $10,468,019 passing through the market, compared to 2,082,552 units valued at $21,125,705 that were traded on Tuesday.
The junior market ended trading with an average of 79,841 units for an average value of $498,477 traded, compared to 94,661 units for an average value of $960,259 on the previous trading day. The average volume and value for the month to date is 133,197 units and $961,366. The average volume and value for the month to the previous trading day ended at 159,875 units and $1,237,810. The average volume and value for March was 137,459 units and $1,313,411.
Trading ended with 5 stocks having bids higher than their last sale prices and just 1 ending with a lower offer, than the last traded price.
At the close of the market on Wednesday, AMG Packaging shed 62 cents to close at $5.48 with 153,832 units changing hands, 
Blue Power traded 6,503 units to close at $35, CAC 2000 gained 15 cents and closed at $8 with 16,745 shares trading, Cargo Handlers traded 347 shares to end at $20.10, Caribbean Cream traded 3,000 units to end with a rise of 4 cents at $7.30, Caribbean Producers fell 25 cents in trading 158,064 units to end at $3.75, Derrimon Trading fell by 10 cents and ended at a new high of $8.50 with 1,800 shares changing hands, Dolphin Cove ended at $20 with 114,585 shares trading. General Accident traded 900 shares and gained 10 cents to end at $3.15, Honey Bun had 5,491 shares changing hands and lost 20 cents to close at $7.30, I$P Finance traded 10,000 shares to end with a rise of 75 cents at an all-time high of $13.50, 
Jamaican Teas lost 25 cents in trading 1,095 shares to close at $7.50, Jetcon Corporation fell 20 cents to end at $11.90 with 10,977 shares being exchanged, KLE Group traded 2,413 units at $3.50, Lasco Distributors ended with 3,290 units trading at $6.89 after losing by 1 cent, Lasco Manufacturing closed with 1,111,790 units changing hands with a rise of 8 cents to end at $5.08, Main Event jumped 74 cents and closed at an all-time high of $5.74 with 10,113 shares changing hands, Medical Disposables traded 25,015 shares to close at $6.50, Paramount Trading shed 15 cents with 25,075 shares changing hands, to close at $3.60 and tTech traded 10,629 units to fall 49 cents and closed at $7.
Juniors rise moderately – Tuesday
The junior market index rose 13.19 points on Tuesday, to end at 3,055.55 with 22 securities changing hands, up from 19 on Monday with 12 advancing and 5 declining.
Trading fell back on Tuesday from Monday’s levels, with a volume of 2,082,552 units valued at $21,125,705 passing through the market, compared to 4,276,697 units valued at $28,791,862 that were traded on Monday.
The junior market ended trading with an average of 94,661 units for an average value of $960,259 traded, compared to 225,089 units for an average value of $1,515,361 on the previous trading day. The average volume and value for the month to date ended at 159,875 units and $1,237,810. The average volume and value for March was 137,459 units and $1,313,411.
Trading ended with 5 stocks having bids higher than their last sale prices and 3 ending with lower offers, than the last traded price.
At the close of the market on Tuesday, AMG Packaging gained 10 cents to close at $6.10 with 113,640 units changing hands, CAC 2000 closed at $7.85 with 6,890 shares trading, Cargo Handlers traded 8,000 shares but fell 90 cents to end at $20.10, Caribbean Cream traded 5,276 units to end with a rise of 1 cent at $7.26, Caribbean Producers climbed 25 cents in trading 2,029 units to end at $4, C2W lost 5 cents to end at 25 cents with 40,000 shares changing hands, Derrimon Trading rose by 10 cents and ended at a new high of $8.60 with 15,423 shares changing hands, Dolphin Cove ended at $20 with 2,370 shares trading to gain $2. General Accident traded 2,500 shares and fell 10 cents to end at $3.05, Honey Bun had 39,797 shares changing hands and gained 20 cents to close at $7.50, Jamaican Teas traded 11,971 shares to close at $7.75,
Jetcon Corporation rose 10 cents to end at $12.10 with 1,408,900 shares being exchanged, KLE Group traded 20,545 units and rose 20 cents to $3.50, Lasco Distributors ended with 22,400 units trading at $6.90 after losing by 10 cents, Lasco Financial rose 20 cents, with 115,225 shares changing hands, to end at $3.80, Lasco Manufacturing closed with 70,000 units changing hands at $5, Main Event slipped 10 cents and closed at $5 with 14,141 shares changing hands, Medical Disposables traded 29,766 shares to close at $6.50 after rising 50 cents, Paramount Trading gained 15 cents with 11,835 shares changing hands, to close at $3.75. tTech traded 22,487 units to gain 9 cents and closed at $7.49, Derrimon Trading preference share traded 117,687 units at $2.11 with a rise of 1 cents and Eppley 10% preference share traded a mere 1,670 units at $6.80.
Berger returns Access out of Top 10
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The top main market stocks now sells at a 50 percent discount to the average main market stocks and is lower than the 40 percent discount of stocks in the junior market. During the past week ISP Finance hit a new high of $12.50 up from $12.25 at the close of the previous week, the stock still sits high on the list at number 4.
Top 10 junior stocks are trading at a 40 percent discount to the average of the junior market, at the close of the week.
After dropping out of the TOP 10 for the last week Lasco Distributors returned during the end of past week while Lasco Financial Services that entered the list for the start of the past week has been squeezed out with prices declining elsewhere and Access Finance ending the week with the bid of 1,500 shares at $39, to be out of the top listing and Blue Power closing the week at $35 is back in the list. Overall bid volumes for junior and main market stocks remain low with the only ones of the Top 10 with decent volumes on the bid for junior stocks being Caribbean Producers with 60,712 units on the bid at $3.75, General Accident with 53,426 units at $3 and Medical Disposables with 103,417 units with the bid price ending at $6. Offers that are well about the bid volumes include AMG Packaging with an offer to sell 99,723 units at $5.95, Jetcon Corporation with 435,207 units at $12.99 and Lasco Distributors with 973,036 units at $6.70.
In the Main market, Barita Investments has limited buying interest at the current price with just 447 units on the bid at $6.85 and 28,224 units on the offer at $7. Berger Paints ended with 237 units on the bid at $12 with 49,894 on offer at $12.01. Carreras currently, has 38,619 shares on offer at $74 and buying of 3,000 shares at $73.95. Caribbean Cement’s weak demand continues in the mid-thirty dollar range, with the stock closing with only 2,340 units on the bid to buy at $31.50 while offers are at $32 to sell 53,579 units. JMMB Group’s buying is at $16.30 for 50,000 units on the bid and only 100 units offered at $18.24, Pulse Investments has offers for 150,000 units at $8 and buying at $7 for 1,005 shares.Price movements continued be a bit volatile as buy and sell orders remain thin for several stocks. With little new news to come until a flood of first quarter results start to flow volatility in May, is likely to continue for a few weeks and this could provide patient investors with some good entry points.
