Edufocal suffered a major drop in price in the past week to $1.05 from $1.13 at the start and landed in an ICTOP10 Junior Market, in position number 7, at the same time, AMG Packaging gained just 5 percent to close at $3.44 and dropped out of the top tier to sit at the twelfth position.
In a week of more moderate price movements, the Junior Market ICTOP10 ended, with a 6 percent jump in the price of Lasco Manufacturing to $5.53 with Access Financial falling 9 percent to $20 and ISP Finance slipping 8 percent to $28.10, while in the Main Market, Key Insurance surged 12 percent to $2.57 and JMMB Group fell 8 percent to $25.
Investors may question why Caribbean Cream is in the ICTOP10. A closer look at earnings for the nine months to November shows the full cost of interest being expensed, most if not all should be a part of the cost of building out the cold room and the cogeneration plant. If interest is capitalized, earnings for the full year would be in the 55 cents per share region rather than 25 cents, with the full interest cost being expensed. More importantly with the 2025 fiscal year having commenced, earnings for the new fiscal year should be around 95 cents, which is the real reason for owning the stock at this time.
There were no changes to the list of companies in the Main Market TOP10 this past week.
For the full list of weekly percentage changes for the ICTOP10 stocks, check the attached charts for the weekly percentage price movements.
The average PE for the JSE Main Market ICTOP 10 stands at 5.6, well below the market average of 13.9 and the Junior Market TOP10 sits at 7.4 over half of the market, with an average of 13.
The Main Market ICTOP10 is projected to gain an average of 270 percent by May 2024, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 175 percent over the same period.
In the Main Market ICTOP 10, a total of 15 of the most highly valued stocks representing 31 percent of the Main Market are priced at a PE of 15 to 115, with an average of 37 and 25 excluding the highest PE ratios, and a PE of 29 for the top half and 21 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 11 stocks, or 23 percent of the market, with PEs ranging from 15 to 44, averaging 21, well above the market’s average. The top half of the market has an average PE of 17, possibly the lowest fair value for stocks, currently.
Of great import is that the averages of both markets are now converging around a PE of 20 for close to a third of the market, as the year is coming to a close and with more information available on the full year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks will likely deliver the best returns on or around May 2024 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 and result 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.
At the close of trading, the Junior Market Index gained 34.14 points recovering 83 percent of Thursday’s loss, to close at 3,792.05.
The Junior Market ended trading with an average PE Ratio of 13, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
Jetcon Corporation climbed 10 cents in closing at 95 cents after an exchange of 793 shares. Knutsford Express popped 72 cents to end at $11.94 with investors transferring 477 units, Lasco Distributors advanced 32 cents to $4.55 in an exchange of 46,778 stocks, Lasco Financial rose 11 cents to close at $1.91 after 3,302 stock units were traded. Lasco Manufacturing gained 38 cents to end at $5.53 with investors trading 2,174 shares, Limners and Bards rallied 23 cents in closing at $1.77, with 24,142 stocks crossing the market, Tropical Battery skidded 13 cents and ended at $2.10 with investors trading 279,984 units and tTech increased 10 cents to $2.40, with 51 stock units crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading closed with 5,660,363 shares for $14,953,776 up from 3,622,295 units at $8,075,268 on Wednesday.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and three with lower offers.
Lasco Financial dropped 15 cents to $1.80 after 15,041 stock units passed through the market, Lasco Manufacturing sank 30 cents and ended at $5.15 in trading 312,815 stock units. Lumber Depot dipped 8 cents in closing at $2.51 after exchanging 1,154,211 shares, Main Event rallied 53 cents to $14.53, with 2,000 units crossing the market, Medical Disposables increased 20 cents to close at $2.50 while exchanging 44 stocks. One Great Studio lost 6 cents to 93 cents with 27,655 stock units clearing the market, Tropical Battery popped 13 cents to end at $2.23 in an exchange of 30,131 shares and tTech skidded 13 cents in closing at $2.30, with 539 stocks crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The market closed after 3,622,295 shares were traded for $8,075,268 compared with 5,879,680 units at $14,528,099 on Tuesday.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and two with lower offers.
Lasco Manufacturing rallied 20 cents to $5.45 in an exchange of 14,042 shares, Limners and Bards fell 9 cents to close at $1.54 with investors swapping 2,000 stocks, Lumber Depot climbed 8 cents and ended at $2.59 after an exchange of 109,000 units. Mailpac Group gained 12 cents to $2.12 in trading 103,424 stock units, Main Event fell 56 cents to $14 after an exchange of 14,972 shares, Medical Disposables declined 20 cents in closing at a 52 weeks’ low of $2.30 after exchanging 950 stocks. MFS Capital Partners sank 20 cents to $1.70 with 85,400 units clearing the market, Stationery and Office Supplies popped 5 cents and ended at $1.52 with an exchange of 236,344 stock units and Tropical Battery dipped 10 cents to $2.10 with 536,975 shares changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The market closed trading of 2,593,168 shares for $6,159,361 compared with 2,586,840 units at $6,170,873 on Friday.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and one with a lower offer.
Mailpac Group increased 8 cents in closing at $2.10 with traders dealing in 45,105 shares, Main Event fell 9 cents and ended at $14.49 in an exchange of 293 stock units, MFS Capital Partners climbed 10 cents to $1.90 with investors dealing in 5,001 stocks. ONE on ONE Educational rose 11 cents to end at 97 cents, with 57,648 units crossing the market, Regency Petroleum shed 6 cents to end at $2.16 while exchanging 28,514 stocks, Spur Tree Spices declined 14 cents in closing at $2.36 with a transfer of 976,508 shares. Tropical Battery dropped 10 cents to close at $2.15 after 63,054 units crossed the exchange and tTech gained 37 cents and ended at $2.43, with one stock unit changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The ICTOP10 ended the past weeks, with a 9 percent jump in the price of ISP Finance to $30.55 and an 8 percent fall in Stationery & Office Supplies to $1.56.
The average PE for the JSE Main Market ICTOP 10 stands at 5.6, well below the market average of 13.9 and the Junior Market TOP10 sits at 7.4 over half of the market, with an average of 13.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
The market closed with trading of 2,586,840 shares with a value of $6,170,873 compared with 5,070,780 units at $9,806,198 on Thursday.
The Junior Market ended trading with an average PE Ratio of 13,, based on last traded prices in conjunction with earnings projected by ICInsider.com for financial years, closing around August 2024.
Jamaican Teas fell 15 cents to $2.40, with 26,984 units changing hands, Lasco Manufacturing rose 7 cents to $5.22 with traders dealing in 308,644 stocks, Limners and Bards rallied 27 cents to $1.80 after an exchange of 800 stock units. Mailpac Group dipped 12 cents in closing at $2.02 with a transfer of 107,866 shares, MFS Capital Partners sank 17 cents to close at $1.80 after 40,051 stocks crossed the market, ONE on ONE Educational skidded 7 cents and ended at a 52 weeks’ low of 86 cents in an exchange of 176,444 units and Stationery and Office Supplies advanced 21 cents to $1.56 after 641,945 stock units passed through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The market closed with 5,070,780 shares trading at $9,806,198 compared with 8,079,622 units at $14,175,727 on Wednesday.
with earnings projected by ICInsider.com for the financial years ending around August 2024.
Jamaican Teas rose 25 cents and ended at $2.55 in trading 602 units, Lasco Manufacturing shed 15 cents to $5.15 with an exchange of 186,039 stocks, Limners and Bards declined 32 cents to close at $1.53 with investors trading 307 stock units. Medical Disposables lost 8 cents in closing at $2.50 after 49,254 shares passed through the market, One Great Studio dipped 5 cents and ended at 95 cents with an exchange of 440,088 stock units, Stationery and Office Supplies fell 8 cents to end at a 52 weeks’ low of $1.35, with 1,230,456 stocks changing hands and tTech advanced 5 cents in closing at $2.06 as investors exchanged 184 stock units.
The market closed with trading of 6,998,714 shares on Tuesday for $18,504,634 compared with 3,940,936 units at $11,557,517 on Monday.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and two with lower offers.
Knutsford Express rallied 5 cents to end at $11.90 with an exchange of one share, Limners and Bards shed 14 cents and ended at $1.48 with 2,302 units, Lumber Depot dropped 28 cents to close at $2.50 after an exchange of 62,947 stocks. Mailpac Group fell 10 cents to $2.08 with investors dealing in 109,087 stock units, Main Event declined 65 cents to close at $13.60 with a transfer of 26,001 shares, following release of first quarter results showing revenues and profit declining compared with that of 2023. Medical Disposables sank 9 cents in closing at $2.58 after trading 2,779 stock units. MFS Capital Partners dipped 7 cents and ended at $1.90 with 452,187 stocks passed through the market, Regency Petroleum increased 5 cents to end at $2.20 with investors trading 172,740 units and Tropical Battery popped 5 cents to $2.20 with 49,523 shares crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The market closed on Monday with 3,940,936 shares being traded for $11,557,517 compared to 21,593,851 units at $47,836,116 on Friday.
Investor’s Choice bid-offer indicator shows five stocks ending with bids higher than their last selling prices and one with a lower offer.
Lasco Manufacturing gained 28 cents to close at $5.48, with 449,268 stocks crossing the market, Limners and Bards popped 14 cents in closing at $1.62 with a transfer of 502 stock units. Mailpac Group climbed 8 cents to close at $2.18 after an exchange of 11,188 shares, Main Event lost 44 cents and ended at $14.25 in switching ownership of 750 stocks, Regency Petroleum shed 5 cents to end at $2.15 with 190,030 units clearing the market. Tropical Battery dropped 15 cents in closing at $2.15 with an exchange of 171,447 stock units and tTech fell 37 cents to $2.06 after 3,913 shares changed hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.