The Jamaican stock markets continued to bounce around in the past week, with both markets closing lower than the previous week, with Barita Investments APO draining funds and attention from secondary market trading, the absence of any other significant price moving news and Bank of Jamaica’s tightening of the financial market.
AMG Packaging back in ICTOP10
Against this background, there was little movement in and out of the ICTOP10 listings this past week, but AMG Packaging joined the Junior Market ICTOP 10 even as the price rose 21 percent from $1.66 last week to $2.01 this week.
After returning to the Junior Market ICTOP10 last week, Lumber Depot gave way this past week to AMG, with earnings projected at 25 cents for the year ending August 2022. If all goes well, the warehouse expansion could improve the company’s fortunes and that of shareholders.
Elsewhere, in the Junior Market, Stationery and Office Supplies pulled back to $5.76 from $6.60 at the end of the prior week. Access Financial fell to $18.75 from $21.49 last week, General Accident fell from $5.54 last week to $5.15, Medical Disposables slipped from $4.94 to $4.46, Caribbean Assurance fell from $1.80 to $1.66 and Caribbean Cream moved up to $6.60, from $6.05 last week.
In the Main Market, Carib Producers rose from $4.40 to $4.65, JMMB Group popped from $35.74 to $38.95, Guardian Holdings dropped $590 to $581 and Grace Kennedy slipped from $100 to $99.19, Radio Jamaica rose from $3.58 to $3.80 and Sygnus Credit Investments declined from $16 to $15.75.
The top three Main Market stocks are Berger Paints, followed by Guardian Holdings and JMMB Group, with expected gains of 208 to 263 percent for the three, versus last weeks’ 212 to 257 percent.
The top three stocks in the Junior Market are Elite Diagnostic, followed by Medical Disposables and General Accident. All three have the potential to gain between 250 percent and 307 percent, up from 224 percent and 291 percent last week.
This past week, the average gains projected for the TOP 10 Junior Market stocks moved from 197 percent to 214 percent and Main Market stocks moved from 173 percent to 166 percent.
The Junior Market closed the week with an average PE 12.1 based on ICInsider.com’s 2021-22 earnings and currently trades well below the target of 20 and the historical average of 17 for March this year based on 2020 earnings.
The TOP 10 stocks trade at a PE of 6.5, with a 54 percent discount to that market’s PE. The overall Junior Market can gain 65 percent to March next year, based on an average PE of 20 and 40 percent based on an average PE of 17.
The JSE Main Market ended the week at an average PE of 15.5, some distance from 19 in March, this suggests a possible 23 percent rise for the market at a PE of 19 and 29 percent at a PE of 20, to March 2022.The Main Market TOP 10 trades at a PE of 7.6, with a 50 percent discount to the PE of that market, well off the potential of 20.
ICTOP10 is a selection of stocks that are more likely to be the great winners within fifteen months and not necessarily the best in the market. ICInsider.com ranks stocks to separate the big winners from the rest, allowing investors to focus on potentially huge gains, helping to keep out an emotional attachment to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on the possible increase for each company, based on the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings per share are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Similar to Wednesday 36 stocks traded ending with 15 rising, 13 declining, with eight unchanged.
Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and three with lower offers.
Lasco Manufacturing increased 32 cents to $4.83 after exchanging 10,148 shares, Lumber Depot shed 14 cents to $2.80, with 1,021,891 stock units changing hands, Mailpac Group climbed 10 cents to $3.65 in an exchange of 110,396 stocks. Paramount Trading advanced 5 cents in closing at $1.10 after exchanging 20,075 units, SSL Venture fell 11 cents to close at 63 cents with an exchange of 907,939 shares and Tropical Battery popped 7 cents to $1.34 in exchanging 51,488 stock units.
The volume of stocks traded on Wednesday declined by 44 percent and the value 46 percent from Tuesday’s levels, with 6,071,422 shares traded for $19,121,644, down from 10,904,334 units at $35,164,246 on Tuesday. Future Energy Source led trading after taking 43.3 percent of the volume with 2.63 million shares, followed by Caribbean Flavours 9.6 percent, with 585,245 units and Derrimon Trading with 424,600 units for 7 percent market share.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and one with a lower offer.
Limners and Bards shed 20 cents to $3.45 in trading 196,098 units, Mailpac Group fell 13 cents to $3.55 after exchanging 181,170 stocks, Medical Disposables shed 50 cents to close at $4.50 after 88,417 stock units crossed the market. Paramount Trading declined 5 cents to $1.05 in switching ownership of 3,925 shares, SSL Venture gained 10 cents to end at 74 cents after exchanging 23,154 stocks and Stationery and Office Supplies lost 88 cents in closing at $5.90, with 3,282 stock units changing hands.
Market activity ended with 38 securities trading similar to Monday after 16 stocks rose, eight declined and 14 ended unchanged. The Junior Market Index rose 1.69 points to 3,218.89. The PE Ratio, a measure used in computing appropriate values for stocks, averages 12.1 based on ICInsider.com’s 2021-22 earnings forecast.
At the close, Access Financial lost $1.48 in ending at $20.01 with 22,295 shares clearing the market, Blue Power spiked 62 cents to $3.37 with the swapping of 5,947 units, CAC 2000 gained 60 cents in closing at $9.10 after trading 5,000 stock units. Cargo Handlers increased 10 cents to $7.40 in an exchange of 3,999 stocks, Caribbean Assurance Brokers popped 4 cents to $1.79 with an exchange of 14,957 stock units, Consolidated Bakeries shed 20 cents to $1.60, with 7,360 shares changing hands. Everything Fresh dropped 6 cents in closing at 90 cents in switching ownership of 128,541 units, Express Catering rallied 60 cents to $4.90 while exchanging 4,635 stocks, Fontana fell 5 cents to end at $6.10 after 298,234 shares changed hands. Honey Bun declined 20 cents to close at $8 in trading 58,950 stocks, Lasco Financial fell 15 cents to $3 after exchanging 35,012 stock units, Limners and Bards rose 35 cents in closing at $3.65, after 4,761,862 units crossed the exchange. 
Lumber Depot climbed 8 cents to $2.98, with 353,242 stock units crossing the market, Mailpac Group rose 8 cents to $3.68 after trading 77,351 stocks, Medical Disposables advanced 53 cents to $5 in an exchange of 100 units. Stationery and Office Supplies rose 88 cents in closing at $6.78 after an exchange of 6,569 shares and tTech lost 15 cents to end at $4.35 with 30,100 stock units clearing the market, but after trading at a 52 weeks’ intraday low of $3.60.
Market activity led to 38 securities trading compared to 36 on Friday and ended, with seven rising, 22 declining and nine ending unchanged. At the close, the Junior Market Index lost 31.27 points to settle at 3,217.20.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and one with a lower offer.
Indies Pharma lost 23 cents to close at $3.17 in an exchange of 11,606 stock units, Knutsford Express shed 15 cents to $6.85 in exchanging 1,011 units, Lasco Distributors popped 12 cents to $3.82 with 3,067 shares crossing the exchange. Limners and Bards fell 50 cents to $3.30 with the swapping of 1,469,967 units. Lumber Depot declined 10 cents in closing at $2.90 after exchanging 683,558 shares, Mailpac Group rallied 10 cents to $3.60 after trading 72,669 stocks, Medical Disposables dropped 47 cents to $4.47, with 343,907 stock units clearing the market. Stationery and Office Supplies shed 70 cents ending at $5.90 with 2,800 units crossing the exchange and Tropical Battery lost 4 cents to close at $1.27 while exchanging 69,176 stocks.
Markets keep bouncing around with no clear direction and could be weight down by a number of factors, including rising interest rates as Bank of Jamaica starts its tightening of the financial market, Barita Investments APO that will drain or divert funds from secondary trading of other stocks and the absence of any other major news that could move stock prices meaningfully. Against this background, there was little movement in and out of the ICTOP10 listings this past week.
Lumber Depot moved back into the ICTOP10 with the price pulling back under $3 and replaced tTech that enjoyed a price bounce from $4.20 last week to $4.50 this past week.
The top three Main Market stocks are, Berger Paints followed by JMMB Group and Guardian Holdings, with expected gains of 212 to 257 percent for the three, versus last weeks’ 202 to 290 percent.
The TOP 10 trades at a PE of 6.9, with a 42 percent discount to that market’s PE and the potential to rise 67 percent to March next year, based on an average PE of 20.
ICInsider.com ranks stocks to filter out the bigger winners from the rest, allowing investors to focus on potentially huge winners, helping to keep out emotional attachments to stocks that often result in costly mistakes being made.
Overall, 36 securities traded compared to 34 on Thursday with 17 rising, eight declining and 11, closing unchanged. The Junior Market Index rose 26.84 points to 3,248.47 in closing marginally down from the previous week’s close.
Investor’s Choice bid-offer indicator shows no stock ending, with a bid higher than the last selling price and one with a lower offer.
Indies Pharma advanced 23 cents to $3.40 after exchanging 250 units, Lasco Distributors dropped 17 cents to close at $3.70, with 24,848 stock units changing hands, Limners and Bards fell 18 cents to $3.80 after exchanging 762,073 units. Lumber Depot climbed 7 cents to $3, trading 634,727 stock units, Main Event popped 44 cents to $4.20 while exchanging 500 shares, Stationery and Office Supplies increased 69 cents to $6.60 after 1,444 units crossed the market and tTech rose 30 cents to $4.50 in exchanging 749 stock units.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and five with lower offers.
Lumber Depot rose 5 cents to close at $2.80, with 1,628,060 shares crossing the market and Stationery and Office Supplies shed $1.14 in ending at $5.81, with 10,610 units crossing the market.
Market activity led to 35 securities trading compared to 36 on Monday and ended, with 12 rising, 14 declining and nine closing unchanged. The Junior Market Index fell 17.99 points to 3,262.98. The PE Ratio, a measure used to compute appropriate stock values, averages 11.3 based on ICInsider.com’s 2021-22 earnings forecast.
Investor’s Choice bid-offer indicator shows three stocks ending, with bids higher than their last selling prices and none with a lower offer.
hands. Lasco Financial fell 4 cents to close at $3.15 after trading at 23,500 stocks, Lasco Manufacturing lost 11 cents to end at $4.85 in trading 6,905 stocks, Lumber Depot dropped 32 cents to $2.75, with 3,844,851 units crossing the market, Mailpac Group rallied 13 cents to $3.64 while exchanging 651,442 shares, Medical Disposables popped 16 cents to end at $4.61 in switching ownership of 50,517 stock units, Paramount Trading rose 10 cents to $1.11 in an exchange of 566,220 units, Stationery and Office Supplies fell 7 cents to $6.95 trading 35,904 shares and tTech spiked 42 cents to $4.62, with 7,776 stock units clearing the market.
Investor’s Choice bid-offer indicator shows five stocks ending with bids higher than their last selling prices and one with a lower offer.
Lumber Depot shed 11 cents to close at $3.07 after trading 4,795,471 units, Mailpac Group fell 15 cents to $3.51 with 193,419 stocks traded, Medical Disposables dipped 16 cents to $4.45 with 74,483 stock units changing hands. Paramount Trading declined 14 cents to $1.01 with a transfer of 212,785 units, SSL Venture lost 14 cents to close at 64 cents with investors switching ownership of 20,000 stocks and Stationery and Office Supplies spiked $1.27 to $7.02 with 3,000 units crossing the exchange.
