Trading closed the Jamaica Stock Exchange Junior Market on Wednesday, with the market index recording its fifth straight day of gains following last week’s 226 points fall in three days after hitting an all-time record high and ended on Wednesday after the volume of stocks traded declining 63 percent below Tuesday’s level less as the value of stock traded dropped 47 percent and leaving stocks rising and falling almost sharing the honours equally.
The number of securities trading remains elevated as all 43 participated in market activity as was the case on Tuesday and ended with 15 rising, 16 declining and 12, closing unchanged. At the close, the Junior Market Index increased 43.38 points to settle at 3,983.90.
The PE Ratio, a measure used to compute appropriate stock values, averages 19.6. The PE ratio of each stock in the chart below is based on ICInsider.com earnings forecast for companies with financial years up to August 2022.
Overall, 4,440,089 shares traded for $19,969,265 compared to 12,058,347 units at $37,852,476 on the previous day. Spur Tree Spices led trading with 905,497 shares for 20.4 percent of total volume followed by Future Energy Source with 651,383 units for 14.7 percent of the day’s trade and Lumber Depot with 352,455 units for 7.9 percent market share.
Trading averaged 103,258 shares at $464,402 in contrast to 280,427 shares at $880,290 on Tuesday and month to date, averaging 381,857 units at $1,442,591, compared to 399,658 units at $1,505,090 on previous day. January closed with an average of 319,395 units at $1,181,136.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and two stocks with lower offers.
At the close, Access Financial fell 74 cents to $19.96, with 638 shares changing hands, AMG Packaging declined 38 cents to close at $3.06 in an exchange of 172,110 stocks, Blue Power increased 38 cents after ending at $4 in switching ownership of 42,500 stock units. Cargo Handlers lost 10 cents to close at $7.60 after exchanging 31,503 units, Caribbean Assurance Brokers rallied 25 cents to end at $3.25, with 48,628 stock units crossing the exchange, Caribbean Cream climbed 45 cents to close at $5.30 after trading 1,108 stocks. Dolphin Cove advanced 50 cents to end at $28.94 after 141,641 shares crossed the market, Express Catering popped 19 cents to $6.19 trading 56,396 units, Honey Bun dropped 15 cents after ending at $9.70, with 38,064 shares clearing the market. 
ISP Finance shed $2.20 in closing at $30 finishing after an exchange of 11 units, Knutsford Express lost 17 cents in closing at $7.80 after exchanging 569 stock units, Lasco Distributors shed 19 cents to end at $3.70 in an exchange of 44,038 stocks. Limners and Bards gained 23 cents to close at $3.74, with 5,615 stocks crossing the market, Main Event rose 19 cents to $5.30 in trading 3,176 stock units, Spur Tree Spices traded 905,497 shares and rose 7 cents to close at a record closing high of $3.28 and tTech declined 20 cents to $4.15 while exchanging 66,030 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market squeezes out gains on Tuesday
Trading closed on Tuesday, with the volume of stocks traded rising 60 percent and the value increased 30 percent higher than on Monday at the close of the Jamaica Stock Exchange Junior Market.
All listed 43 securities traded similar to Monday and ended with 18 rising, 15 declining and 10, closing unchanged.
At the close, the Junior Market Index rallied 14.24 points to settle at 3,940.52.
The PE Ratio, a measure used to compute appropriate stock values, averages 18.6. The PE ratio of each stock in the chart below is based on ICInsider.com earnings forecast for companies with financial years up to August 2022.
Overall, 12,058,347 shares traded for $37,852,476 up from 7,558,016 units at $29,196,251 on Monday. Derrimon Trading led trading with 4.67 million shares for 38.8 percent of total volume followed by Tropical Battery with 2.03 million units for 16.8 percent of the day’s trade and Lumber Depot with 1.33 million units for 11.1 percent market share.
Trading averaged 280,427 shares at $880,290 in contrast to 175,768 shares at $678,983 on Monday and month to date, averaging 399,658 units at $1,505,090, compared to 407,796 units at $1,547,735 on the previous trading day. January closed with an average of 319,395 units at $1,181,136.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and three, with lower offers.
At the close, Access Financial advanced 79 cents to $20.70 after trading 3,639 shares, Blue Power popped 17 cents in closing at $3.62 while exchanging 79,525 units, CAC 2000 declined 18 cents in ending at $7.89 after exchanging 154 stocks. Cargo Handlers gained 70 cents to close at $7.70 in trading 7,130 stock units, Caribbean Assurance Brokers shed 26 cents to end at $3 after exchanging 40,752 units, Dolphin Cove climbed 94 cents to $28.44, with 115,720 stock units changing hands. Elite Diagnostic fell 11 cents to $3.30 with an exchange of 19,790 shares, Express Catering dropped 10 cents to close at $6 in switching ownership of 31,980 stocks, Fontana increased 87 cents to $11.57 after trading 206,370 units. Future Energy Source rallied 30 cents to $4.90 in exchanging 681,443 stock units, General Accident rose 30 cents to $6.30 with the swapping of 779 stocks, Jamaican Teas lost 10 cents to end at $3.65 in an exchange of 710,416 shares. 
Medical Disposables dropped 70 cents in closing at $6.65 with 12,698 units clearing the market, Paramount Trading declined 10 cents to close at $1.95, with 202,683 shares changing hands, Stationery and Office Supplies lost 10 cents in ending at $7.40 after 21,358 stocks passed through the market and tTech rose 35 cents in closing at $4.35 after exchanging 1,107 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Strong rebound for Junior Market
The Junior Market Index held on to a strong 51.94 points gain on Monday to close at 3,926.28 after the market opened up more than 73 points in early trading, the market closed, with the volume of stocks traded declining 63 percent and the value dropped by 50 percent lower than on Friday at the close of the Jamaica Stock Exchange Junior Market.
All 43 listed securities traded, up from 38 on Friday ending with 17 rising, 20 declining and six, closing unchanged.
The PE Ratio, a measure used to compute appropriate stock values, averages 18. The PE ratio of each stock in the chart below is computed based on ICInsider.com earnings forecast for companies with financial years, up to August 2022.
Overall, 7,558,016 shares traded for $29,196,251 down from 20,499,585 units at $58,896,925 on the previous trading day. Friday Tropical Battery led trading with 2 million shares for 26.5 percent of total volume followed by Cargo Handlers 1.74 million units with 23.1 percent of the day’s trade and Mailpac Group, 598,735 units with 7.9 percent market share.
Trading averaged 175,768 shares at $678,983 in contrast to 539,463 shares at $1,549,919 on Friday and month to date, averaging 407,796 units at $1,547,735, compared to 424,793 units at $1,611,375 on Friday. January closed with an average of 319,395 units at $1,181,136.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and none with a lower offer.
At the close, Blue Power advanced 30 cents to $3.45 in exchanging 3,320 shares, CAC 2000 fell 18 cents to close at $8.07, with 15,080 units changing hands, Caribbean Cream shed 23 cents in closing at $4.77 with 948 stocks crossing the market. Dolphin Cove rallied $1.05 to end at $27.50 trading 78,718 stock units, Express Catering declined 14 cents to $6.10 in switching ownership of 59,229 stock units, Fontana rose 70 cents to $10.70, with 105,560 units crossing the market. Future Energy Source gained 10 cents to close at $4.60 with the swapping of 454,659 stocks, General Accident lost 27 cents in closing at $6, with 43,500 shares crossing the exchange, Honey Bun climbed 38 cents to $9.89 trading 24,164 units. iCreate popped 23 cents to end at 83 cents while exchanging 437,630 shares, Iron Rock Insurance increased 32 cents to end at $3.42 after exchanging 332 stock units, ISP Finance gained $4.20 after ending at $32.20 with just 15 stocks changing hands. 
KLE Group dropped 15 cents to close at $2.55 with an exchange of 2,600 shares, Main Event climbed 10 cents to $5.10, with 5,264 units clearing the market, Paramount Trading rallied 10 cents in closing at $2.05 after exchanging 42,100 stock units. Spur Tree Spices advanced 11 cents to $3.16 in an exchange of 321,729 stocks, SSL Venture declined 30 cents in closing at $1.60 in trading 2,921 shares, Stationery and Office Supplies popped 20 cents to end at $7.50 trading 1,394 stocks and tTech shed 35 cents to $4 closed with the trading of 2,045 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Lasco Manufacturing hits IC TOP10
Lasco Manufacturing returns to IC TOP10 best performing stock in the past week, replacing Honey Bun closing at $6 in a week that the Junior Market climbed to a new eleven month high and posted a five percent gain for the year to date.
While the Junior Market had a new addition, the Main Market TOP10 continued with the same stocks as the week before but Grace Kennedy price rose from $68 to $73.45 with the stock moving from 5th spot to 7th.
The 2021 winner to date, Jamaican Teas lost a cent this past week after trading at a record high of $3.04 and moved down to the ninth spot this week with the price closing at $2.88 on Friday. Caribbean Cream price closed at $4.50 down from $4.95 at the end of the previous week to sit at 7th spot now. Lumber Depot one of the better Junior Market movers held at $1.95 after hitting $2.12 during the week to remain at eight position.
The Junior Market is up 4.9 percent for 2021 and is currently powered by a bullish golden cross, setting to take the market beyond 3,000 points. The release of company results in the next two weeks will play a big role in the next few weeks that will add fuel to the current rally. 
In this regard, based on 2020 release of results, interim financials are expected this week, from Access Financial, Barita Investments, Iron Rock Insurance, NCB Financial, the Lasco group of companies and Jamaican Teas.
The Main Market continues to slip in January, but technical indicator points to it heading towards the 460,000 points level on the All Jamaica Composite Index, in months.
The current TOP 10 report is based on earnings for 2020/21 as there are substantial gains ahead, for many stocks in the listings.
The top three stocks in the Junior Market with the potential to gain between 196 to 381 percent are Caribbean Producers followed by Elite Diagnostic and Lasco Financial. With expected gains of 135 to 315 percent, the top three Main Market stocks are, Berger Paints followed by Scotia Group and Carreras.
The local stock market’s targeted average PE ratio is 20 based on profits of companies reporting full year’s results, from now to the second quarter in 2021. The Junior and Main markets are currently trading well below the market average, indicating strong gains ahead. The JSE Main Market ended the week, with an overall PE of 18.9 and the Junior Market 14.8, based on ICInsider.com’s projected 2020-21 earnings. The PE ratio for the Junior Market Top 10 stocks average a mere 7.8 at just 53 percent of the market average. The Main Market TOP 10 stocks trade at a PE of 9.1 or 48 percent of the PE of that market.
The average projected gain for the Junior Market IC TOP 10 stocks is 181 percent and 132 percent for the JSE Main Market, based on 2020-21 earnings. 
IC TOP10 stocks are likely to deliver the best returns up to March 2021 and ranked in order of potential gains, based on likely gain for each company, taking into account the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in movements in and out of the lists weekly. 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.
Lumber Depot set to leave IC TOP 10
Newly listed Lumber Depot traded for the first time after listing on Friday to close at $1.59, up 32.5 percent from the IPO issue price of $1.20. The stock remains in the TOP Junior Market listing at 6th position from third, last week, but may not be in it much longer.
Honey Bun that jumped ship at the end of the prior week, returns to sit at 10th spot with the fall of tTech while the JSE Main Market welcomed back Stanley Motta to the TOP 10 at the expense of NCB Financial.
IC Insider.com has upgraded the target PE ratios to 25 with several stocks trading at that around 22 currently. The average projected gains for the IC TOP 10 stocks are 187 percent for Junior Market stocks and 145 percent for JSE Main market Top 10 companies.
The top three Junior Market stocks are Medical Disposables with projected gains of 252 percent, followed by Main Event with a potential appreciation of 246 percent and Jamaican Teas with 233 percent.
Radio Jamaica holds the lead of Main Market stocks with projected gains of 238 percent, followed by Carreras in the number two spot with projected growth of 168 percent and Pulse Investments with likely increases of 167 percent is next.
The JSE Main Market closed the week, with an overall PE of 20.8 and the Junior Market at 14.9, based on current year’s earnings. The PE ratio for Junior Market Top 10 stocks averages 9.1 with the Main Market PE at 10.4.
The TOP 10 stocks now trade at a discount of 39 percent of the average for Junior Market stocks and Main Market stocks trade at a discount of 50 percent to the overall market.
IC TOP 10 stocks are likely to deliver the best returns to March next year. 
Projected earnings, along with the PE ratio for each company’s current fiscal year, are used in determining potential gains with the likely gains ranked in descending order with highest-ranked being the most attractive. Future values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.
This report is compiled by persons who may have an interest in the securities commented on.
Continued stability for IC TOP 10
With the closing of the two initial public offers of MailPac Group and Lumber Depot last week, things started to return to more normally in the market this past week with the two main markets recording net gains for the week.
At the close of a week when the JSE Main Market put on125 points and the Junior Market rose 46 points there was minimal change to the IC TOP 10 list this week with just one change as Fontana returns to the top flight after a brief absence, replacing Caribbean Flavours with the price jumping to $17.90 on Friday. One important development at the end of the week was the release of full-year results, for Honey Bun, with profit rising 67 percent to hit $157 million from a 17 percent rise in revenues to $1.54 billion.
Importantly, the company is on the way to earn 70 cents per share for 2020.
The average gains for the IC TOP 10 stocks are 136 percent for Junior Market stocks and 96 percent for JSE Main market Top 10 stocks.
The top three Junior Market stocks, is now led by Main Event with projected gains of 183 percent, followed by MailPac Group with 180 percent and Medical Disposables with potential gains of 167 percent.
Radio Jamaica remains the lead stock with projected gains of 186 percent, followed by Pulse Investments in the number two spot with projected growth of 138 and Berger Paints with likely gains of 120 percent and percent is next.
The JSE Main Market closed the week with the overall PE of 19 up from 18.8 and the Junior Market at 14.2, an improvement over the previous week’s 13.8, based on current year’s earnings. The PE ratio for Junior Market Top 10 stocks averages 18.7 from 7.8 last week with the Main Market PE at 10.6 up from 10.4.
The TOP 10 stocks now trade at a discount of 39 percent to the average for Junior Market stocks and main market stocks trade at a discount of 44 percent to the overall market.
IC TOP 10 stocks are likely to deliver the best returns to March next year. 
Projected earnings, along with the PE ratio for each company’s current fiscal year, are used in determining potential gains with the likely gains ranked in descending order with highest-ranked being the most attractive. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.
This report is compiled by persons who may have an interest in the securities commented on.
Greater stability for IC TOP 10
NCB Financial is back in IC TOP10
The past week saw the initial public offers for Mailpac Group and Lumber Depot coming to the market with both being fully subscribed.
There were just two changes to the IC TOP 10 list of stocks at the end of the week. NCB Financial makes it back into the TOP 10 at the expense of JMMB Group that rose in price to $46 while the Junior Market TOP 10 welcomed Dolphin Cove while saying goodbye to Fontana.
The top three Junior Market stocks, is now led by CAC 2000 with projected gains of 200 percent, followed by MailPac Group with 180 percent and Main Event, with potential gains of 179 percent.
Radio Jamaica remains the lead stock with projected gains of 170 percent, followed by Pulse Investments in the number two spot with projected growth of 127 and Berger Paints with likely gains of 116 percent and percent is next.
The main market, closed the week with the overall PE of 18.8 and the Junior Market at 13.8, based on the current year’s earnings. The PE ratio for Junior Market Top 10 stocks averages 7.8 with the main market PE at 10.4.
The TOP 10 stocks now trade at a discount of 43 percent to the average for Junior Market stocks and main market stocks trade at a discount of 45 percent to the overall market.
IC TOP 10 stocks are likely to deliver the best returns to March next year. Projected earnings, along with the PE ratio for each company’s current fiscal year are used in determining potential gains with the likely gains ranked in descending order with highest-ranked being the most attractive. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.
This report is compiled by persons who may have an interest in the securities commented on.
Major shakeup in IC TOP 10
The past week saw the release of quarterly results by several companies and that helped in reshaping IC TOP 10 list of stocks for the coming week. The Junior Market TOP 10 has 5 changes and the main market just one.
Earnings downgrades and the announcement of new initial public offers were the main factors that resulted in the changes.
Mailpac Group and the Lumber Depot released prospectuses this past week, with both making it into the Junior Market TOP 10 list. Other notable changes to the Junior Market list are Caribbean Flavours, Fontana and Honey Bun that reentered the top list after weeks of absence. Dropping from the list are Iron Rock Insurance, Caribbean Producers and tTech, all of which suffered earnings downgrade.
Mailpac Group released its prospectus to sell 500 million shares at $1 each with earnings of 14 cents per share for a PE of 7 and potential gains of 180 percent. The Lumber Depot released its prospectus on Friday with a projected profit of $82 million or 16 cents per share.
JMMB Group released substantial gains in the half-year results that helped to propel it into the main market TOP 10 at the expense of Seprod. The latter suffered an earnings downgrade following the release of the nine months results.
The top three Junior Market stocks, is now led by Main Event with projected gains of 201 percent, followed by Medical Disposables with 186 percent and by new entrant MailPac Group, with a potential increase of 180 percent.
Radio Jamaica remains the lead stock with projected gains of 170 percent, followed by Pulse Investments in the number two spot with projected growth of 144 and Carreras with a likely increase in the stock price of 117 percent and percent is next.
The main market, closed the week with the overall PE of 17.6 and the Junior Market at 13.8 from 12.1, based on current year’s earnings. The PE ratio for Junior Market Top 10 stocks averages 8.1 with the main market PE at 10.5.
The TOP 10 stocks now trade at a discount of 42 percent to the average for Junior Market stocks and main market stocks trade at a discount of 40 percent to the overall market.
IC TOP 10 stocks are likely to deliver the best returns to March next year.
Projected earnings, along with the PE ratio for each company’s current fiscal year are used in determining potential gains with the likely gains ranked in descending order with highest-ranked being the most attractive. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.
This report is compiled by persons who may have an interest in the securities commented on.
Two new entries to IC TOP 10
Back in IC TOP 10
The vast majority of listed companies on the Jamaica Stock Exchange will be releasing quarterly results by the end of the week and that could result in significant price movements for some. The major moves should apply mostly in the Junior Market that has several undervalued stocks.
The main market TOP 10 has two new additions this week with Pulse Investments surging back into the list with robust first-quarter results, suggesting that profit for the year could reach 50 cents per share. Scotia Group also returned to the top flight while Eppley and Proven Investments exited the listing. There was no change to the Junior Market TOP 10 list.
The top three Junior Market stocks continue to be led by Caribbean Producers with projected gains of 254 percent, followed by Iron Rock Insurance with a potential rise of 232 percent and Main Event with 221 percent.
Radio Jamaica remains the lead stock with projected gains of 170 percent, followed by Carreras in the number two spot with likely increases of 106 percent and Berger Paints with projected growth of 95 percent is next.
The main market closed the week with the overall PE of 17.6, up from 17.2 and the Junior Market at 12.1 from 11.8, based on current year’s earnings. The PE ratio for Junior Market Top 10 stocks averages 7.5, with the main market PE at 10.6.
The TOP 10 stocks now trade at a discount of 38 percent to the average for Junior Market stocks and main market stocks trade at a discount of 40 percent to the overall market.
IC TOP 10 stocks are likely to deliver the best returns to March next year. Projected earnings, along with the PE ratio for each company’s current fiscal year are used in determining 
potential gains with the likely gains ranked in descending order with highest-ranked being the most attractive. The increased values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.
This report is compiled by persons who may have an interest in the securities commented on.
Main Event leaps into IC TOP 10
Main Event revenues growing nicely profit stalls.
Overall price movement on the Jamaica Stock Exchange was steadier ahead of the month-end but some stocks recorded notable price movements as the JMMB Group APO remained opened.
Main Event shot into the Junior Market TOP 10 list this week in the number 3 position with a switch to earnings for 2020 fiscal year. The company came under selling pressure recently with profit declining in the July quarter although revenues climbed a strong 29 percent over the outturn for the similar quarter in 2018. The company managed to record a modest increase in its nine months profit with earnings per share of 36 cents. If the growth in revenues maintains the trend for 2019 in 2020 and management controls cost that was out of line in 
2019, then the company should go on to record a strong increase in profit in the 2020 fiscal year that starts this month.
Honey Bun returns to the Junior Market TOP 10 stocks while Caribbean Flavours and Access Financial with an earnings downgrade, following release of the six months results, are out of the IC TOP 10. Over in the main market, Eppley moved in at the expense of Scotia Group with the price climbing to $58.99 on Friday.
The top three Junior Market stocks, continue to be led by Caribbean Producers with projected gains of 237 percent, followed by Iron Rock Insurance with potential gains of 233 percent followed by Main Event with 226 percent.
Radio Jamaica remains the lead stock with projected gains of 176 percent, followed by Carreras in the number two spot with likely gains of 128 percent and Jamaica Broilers with projected growth of 107 percent is next.
The main market, closed the week with the overall PE of 17.8, up from 17.2 and the Junior Market at 12.1 from 11.8, based on current year’s earnings. The PE ratio for Junior Market Top 10 stocks averages 7.8 with the main market PE at 10.7 from 10.8 for the previous week.
The TOP 10 stocks now trade at a discount of 37 percent to the average for Junior Market stocks and main market stocks trade at a discount of 38 percent to the overall market.
IC TOP 10 stocks are likely to deliver the best returns to March next year. Projected earnings, along with the PE ratio for each company’s current fiscal year are used in determining potential gains with the likely gains ranked in descending order with highest-ranked being the most attractive. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.
This report is compiled by persons who may have an interest in the securities commented on.