The Junior Market slipped by a few points at the end of the week but the Main Market declined around one percent, with Carreras and Wigton Windfarm hitting new 52 weeks’ highs.
AMG Packaging in ICTOP10
The Junior Market closed the week with ISP Finance jumping 26 percent to close at $31.50, a pretty high price based on the earnings of 57 cents per share in 2023, with 25 cents in the final quarter, with income jumping a solid 39.6 percent, that augurs very well for revenues and earnings for 2024. A close examination of the 2023 fiscal results reveals significant potential for revenues and profit ahead that should start in 2024. Watch for the first quarter numbers for this one.
There was an 18 percent jump in the price of AMG Packaging to close at $3.55, following the holding at the company’s AGM, Lasco Distributors rose 9 percent to $4.55. Lasco Manufacturing closed 4 percent higher at $5.09 after the price reached $6.14 on Friday, with the supply of the stock being sold drying up. Iron Rock Insurance dropped back 16 percent to $2.11 and in the Main Market TOP10, Palace Amusement shed 14 percent to close at $1.07.
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 5.3, well below the market average of 13.7 and the Junior Market TOP10 sits at 7.5 just over half of the market, with an average of 13.4.
The Main Market ICTOP10 is projected to gain an average of 281 percent by May 2024, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 170 percent over the same period.
In the Main Market ICTOP 10, a total of 14 of the most highly valued stocks representing 29 percent of the Main Market are priced at a PE of 15 to 108, with an average of 31 and 21 excluding the highest PE ratios, and a PE of 25 for the top half and 18 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 12 stocks, or 25 percent of the market, with PEs ranging from 15 to 45, 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.
The market closed Friday with trading in 11,253,996 shares for $82,073,604 compared with 25,124,811 units at $45,570,028 on Thursday.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and two with lower offers.
NCB Financial gained $2 to end at $69.50 and closed with 108,670 shares changing hands, Proven Investments lost $1.74 and ended at $23.01 as investors exchanged 1,176 units, Seprod dropped $2.25 to close at $80.70 after 517 stocks passed through the market and Supreme Ventures rose 83 cents to $26.03 in an exchange of 17,709 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The market closed on Thursday with 25,124,811 shares being exchanged for $45,570,028 versus 33,827,768 units at $70,975,052 on Wednesday.
The Main Market ended trading with an average PE Ratio of 13.7. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with their financial year, ending around August 2024.
MPC Caribbean Clean Energy rose $1 and ended at $91 with an exchange of 145 stocks, NCB Financial shed $1 to end at $67.50 in switching ownership of 25,447 stock units, Sagicor Group advanced 80 cents in closing at $43.80 with traders dealing in 6,395 shares. Sagicor Real Estate Fund climbed 33 cents to close at $7.95 in an exchange of 125 units, Scotia Group rallied $1 to $46, with 25,207 stocks crossing the market, Seprod popped $1.95 in closing at $82.95 in trading 5,773 stock units and Supreme Ventures declined by 83 cents to end at $25.20, with 27,671 shares crossing the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The market closed with 33,827,768 shares being traded for $70,975,052 compared with 44,551,752 units at $385,321,406 on Tuesday.
The Main Market ended trading with an average PE Ratio of 13.6. 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 around August 2024.
Pan Jamaica advanced $3.40 in closing at $51.40 with traders dealing in 58 stocks, Proven Investments skidded 49 cents to end at $24.50, with 544 stock units changing hands, Sagicor Group declined 90 cents to $43 with an exchange of 9,686 shares. Scotia Group fell $2.40 to $45 with 87,756 stocks clearing the market and Seprod dipped $1.50 to close at $81 while exchanging 9,162 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading ended with a solid 78 percent rise in the volume of stocks traded and a 146 percent jump in value compared with Monday, following trading in 60 securities similar to Monday, and ending with with rising and declining price splitting 50 stocks equally, at 25 each with 10 ending unchanged.
Wisynco Group closed with 2.41 million units for 5.4 percent market share and JMMB Group 7.35% – 2028 with 1.09 million units for 2.5 percent of total volume.
Kingston Wharves increased $2.53 in closing at $32.70 after an exchange of 13,062 shares, Massy Holdings jumped $6.85 to $96.86 in trading 387 stocks, Mayberry Jamaican Equities sank 85 cents to $9.25, with 1,001,000 shares crossing the market. MPC Caribbean Clean Energy fell $1 to close at $90 with investors dealing in 180 stock units, NCB Financial skidded 50 cents to $69 after trading 21,081 units, Pan Jamaica lost $3.40 in closing at $48 with an exchange of 6,395 stocks. Scotia Group rose $1.40 to a 52 weeks’ closing high of $47.40 after 55,757 shares passed through the market, Seprod declined $1.21 to end at $82.50 while exchanging 3,561 stocks, Stanley Motta rallied 99 cents and ended at $6.99 with investors swapping 130 units. Supreme Ventures dropped 47 cents to $25.99 after a transfer of 45,032 stock units, Sygnus Real Estate Finance increased $1.55 to close at $11.40, with 2,500 shares crossing the market and Wisynco Group dipped 45 cents to end at $21 with investors transferring 2,405,113 stock units.
In the preference segment, Eppley 7.50% preference share fell $1.83 in closing at $5.64 after an exchange of 11,594 stocks, JMMB Group 7% preference share dropped 40 cents and ended at $2.28 with a transfer of 17 units and Productive Business Solutions 9.75% preference share shed $10.65 to $91.01 after exchanging 240 stocks.
Trading ended with an exchange of 24,989,216 shares for $156,897,201 compared with 9,234,717 stock units at $63,291,889 on Friday.
The Main Market ended trading with an average PE Ratio of 13.7. 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 around August 2024.
Kingston Properties rose 30 cents to $7.30 in switching ownership of 28,055 stocks, Kingston Wharves popped $1.42 to $30.17 with investors trading 13,839 units, Margaritaville fell 48 cents to close at $17 after an exchange of 100 stock units. Massy Holdings dipped $1.49 to close trading 1,086 shares at $90.01, Mayberry Jamaican Equities climbed $1.10 to $10.10 as investors exchanged 216,456 stocks, Stanley Motta sank $1 and ended at $6 after 59,210 units passed through the market. Sygnus Real Estate Finance skidded $1.40 to $9.85 with a transfer of 13,803 stock units and Victoria Mutual Investments lost 30 cents, closing at $2.70 after trading 109,808 shares.
In the preference segment, Eppley 7.50% preference share rallied $1.59 and ended at $7.47 after 540 stocks crossed the market and 138 Student Living preference share rose $5.55 to close at $190 after an exchange of 50 units.
For a second consecutive week, the Junior Market ended with minimal price changes, ranging from 4 percent and less and none with a negative price movement, while the Main Market had only two stocks with negative price changes, with Pulse Investments, the highest with a fall of 7 percent to $1.85 and 138 Student Living slipping 3 percent, while Margaritaville popped 18 percent to close at the week at $17.48, Caribbean Producers rose 6 percent to $9.64 following the release of nine months results that saw profit for the second quarter rising 17.6 percent to US$2 million but with the six months results, down marginally to US$3.28 million versus $3.35 million in 2022. Key Insurance rose 5 percent to $2.31 and Palace Amusement gained 4 percent to close at $1.25 following news of a sold-out opening night for the Marley movie that nearly doubled that of the highly successful Black Panther.
The Main Market ICTOP10 is projected to gain an average of 279 percent by May 2024, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 177 percent over the same period.
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.
Trading ended with 9,234,717 shares trading at $63,291,889 compared with 38,589,987 units at $156,062,036 on Thursday.
The Main Market ended trading with an average PE Ratio of 13.7.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 around August 2024.
Massy Holdings skidded $5.50 to end at $91.50 while trading 6,203 shares. Pan Jamaica advanced $1.01 in closing at $51.51 as 29,192 units passed through the market, Sagicor Group rose 50 cents to $44 as investors exchanged 5,201 stocks, Scotia Group rallied $1 to close at $46 closing with an exchange of 57,369 stock units. Stanley Motta increased 70 cents to end at $7 in trading 18,743 shares and Supreme Ventures popped 30 cents to $26.50 after exchanging 53,468 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Investors traded 38,589,987 shares at $156,062,036 up from 12,851,415 units at $53,884,935 on Tuesday.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and five with lower offers.
Pan Jamaica dropped 70 cents in closing at $50.50 after a transfer of 1,265 stock units, Proven Investments popped $2.02 to close at $24.97 with 100,444 stocks clearing the market. Sagicor Group shed 50 cents to end at $43.50 with an exchange of 7,767 units, Sagicor Real Estate Fund dipped 32 cents in closing at $7.62 after 1,375 stocks crossed the market, Salada Foods advanced 48 cents and ended at $3.60 in an exchange of 143,597 shares. Seprod rose 75 cents to close at $83.75 with investors swapping 3,912 stock units, Stanley Motta sank 70 cents to end at $6.30 in switching ownership of 1,113 units, Supreme Ventures shed 30 cents to $26.20 while exchanging 4,440 stocks. Sygnus Credit Investments rallied 65 cents and ended at $11.60 in trading 103,323 units and Sygnus Real Estate Finance increased 65 cents to end at $11.25 with investors dealing in 4,193 shares.
In the preference segment, Eppley 7.50% preference share declined 90 cents in closing at $6 in an exchange of 705 stock units. Jamaica Public Service 7% gained $5.25 to close at $48.25 with investors swapping 19 shares and 138 Student Living preference share popped $3 to $217 with an exchange of 5 stock units.
The market closed with 12,851,415 shares trading for $53,884,935, down from 35,567,325 units at $139,024,409 on Monday.
The Main Market ended trading with an average PE Ratio of 13.5. 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 around August 2024.
Kingston Wharves dropped $2.40 and ended at $28.10 in switching ownership of 80,542 units, Massy Holdings lost 50 cents to close at $99.50 after exchanging 26 stocks, Pan Jamaica increased $1.08 to end at $51.20 with investors trading 189 stock units. Sagicor Group gained 50 cents in closing at $44 in an exchange of 7,763 shares, Salada Foods sank 33 cents and ended at $3.12 with investors swapping 11,295 units, Scotia Group rose 50 cents to close at $45 with an exchange of 47,920 stocks. Seprod rallied $1 to $83, with 2,377 stock units crossing the market, Supreme Ventures increased $1.97 and ended at $26.50 with investors transferring 68,313 shares, Victoria Mutual Investments climbed 32 cents in closing at $3 in an exchange of 49,930 units and Wisynco Group skidded 30 cents to close at $21.70 with investors dealing in 307,864 stocks.
In the preference segment, Jamaica Public Service 7% sank $5.80 to end at $43 after a transfer of 561 stock units and Productive Business Solutions 10.5 % preference share declined $16 to $1284 with traders dealing in 3 shares.