Jamaica Broilers

Jamaica Broilers profit jumps 64%

April 5, 2021 by IC Insider.com

Nine months through the fiscal year, profit after tax at Jamaica Broilers Group jumped 64 percent to $1.9 billion, up from $1.1 billion for the similar period to January 2020. The group had a solid third quarter performance registering a 61 percent increase of $287 million over the corresponding period to land at $758 million.
Revenue gains have been small, with a two percent rise to $41 billion for the nine months through January and a three percent rise to $14.7 billion for the third quarter. However, the second quarter enjoyed a seven percent increase in revenue that pushed profit before finance charge up a strong 42 percent at $1.3 billion for the quarter and 35 percent for the nine months at $2.97 billion.
Gross Profit climbed 11 percent to $3.84 billion from $3.45 billion and three percent to $10.28 billion from $9.94 billion in 2020. Gross Profit margin increased to 26 percent in the 2021 quarter from 24 percent in 2020 and remained at 25 percent for the nine months period.
Other Income rose from $81 million in the 2020 January quarter to $225 million and from $184 Million to $453 million for the nine months period.
Distribution Costs fell 14 percent in the third quarter to $601 million from $696 million in 2020 and by 6 percent to $1.7 billion for the nine months period from $1.8 billion in 2020.
Administrative Expenses rose 13 percent to $2.19 billion from $1.94 billion for the latest quarter and fell modestly for the nine months to $6.07 billion from 6.12 billion in 2020. Finance cost climbed 37 percent to $330 million from $240 million in the 2020 January quarter and dropped 33 percent for the nine months to $509 million, from $758 million in 2020.
Segment profits rose in the Jamaica operations by a convincing 29 percent, from a four percent fall in sales for the nine months largely driven by the first quarter performance with a 24 percent increase.

Jamaica Broilers announced a new acquisition last week

Sales in the USA market was up nine percent in Jamaican dollars with profit rising by 10 percent. Haiti continues to operate at a loss, but the group has managed to reduce the loss by 75 percent to just $23 million, with sales improving by 26 percent for the nine month period to $1.7 billion.
The group has been enjoying geometric growth as well as by using cheap debt in financing acquisitions of new businesses, helping to grow profits.
The business brought in gross cash inflows of $3.7 billion, up from $2.3 billion in 2020, $2.15 billion was spent on investing activities versus $2.46 billion in 2020, mainly due to acquisition of property, plant and equipment and ended with cash and equivalent of $3.4 billion up marginally from $3.37 billion in 2020. Borrowings of $20.7 billion as of the end of January 2021, while Shareholders equity stood at $17.9 billion, up from just under $16 billion at the corresponding point in 2020.
Listed among IC.Insider.com’s Top 15 for 2021 and remains on the TOP 10 list. Earnings per share closed out the quarter at 74 cents and $1.77 for the nine months. IC.Insider.com projects earnings per share of $3 for the year ending April and $4 for fiscal 2022. Jamaica Broilers last traded at $31 on Monday with a PE of 10 based on 2021 earnings and 7.4 times 2022 EPS.

Filed Under: Buy Rated, Company News, Company Results Tagged With: Emerging markets, Jamaica Broilers, Jamaica Stock Exchange, Jamaican Stock

Rising Junior Market shifts IC TOP10

April 3, 2021 by IC Insider.com

Stationery and Office Supplies (SOS) jumped to the top spot in the Junior Market IC TOP10 this week, with the price falling to $4.78 while PanJam Investment slid into the number two spot for the Main Market, but Radio Jamaica still remains in the number one position.
The top three stocks in the Junior Market are now SOS, followed by Elite Diagnostic Main Event and Jetcon Corporation. The top three Main Market stocks are Radio Jamaica, followed by PanJam and VM Investments. The top three junior Market stocks have the potential to gain between 295 to 318 percent and those in the main market with expected gains of 173 to 452 percent.
TOP 10 stocks had a few changes during the past week, with Berger Paints back in the Main Market TOP10, replacing Sterling Investments that entered the list last week, while for the Junior Market, Caribbean Assurance Brokers returns to the TOP 10 as General Accident moved out.
The Junior Market TOP10 contains several companies that suffered a sharp reversal of fortunes in 2020, with recovery projected in 2021. Green shoots are visible for some, with sales picking up in recent quarters and improving profit.
Some of these companies may require another quarter or two of improvement before meaningful buying starts. Main Event, Caribbean Producers, Knutsford Express, Express Catering and Stationery and Office Supplies are some of the companies that are in this category.
The Main Market has JMMB Group, Jamaica Broilers, Sygnus Credit Investments and Grace Kennedy that are currently in the TOP10 Main Market listing and Caribbean Cement that is just outside.
The Junior Market and the Main Market continue to get support from technical indicators that point to robust gains ahead. To benefit from the growth to come, many investors will need to be on board at an early stage.
This week’s focus: Future Energy Source Company Initial Public Offer of 500 million shares, that ICInsider.com indicated last week should be snapped up quickly by investors, with the company having long-term prospects for strong growth, did just that. NCB Capital Markets, the brokers for the issue, reported on Thursday that the issue, priced at 80 cents per share and opened on Wednesday, closed on Thursday after another Junior Market IPO issue was oversubscribed. The successful closure of the issue will see the number of listed companies rising to 42 from the current 41.
The targeted PE ratio averages 20 based on profits of companies reporting full year’s results, up to the second quarter of 2022. Fiscal 2020-21 ended at 17.2 for Junior Stocks and 19 times for the Main Market at the end of March 2021. With interest rates on government paper below 5 percent and likely to remain there for a few years, there is the likelihood for the average PE ratios to climb higher during the next twelve months.
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 14.7 and the Junior Market 9.8, based on ICInsider.com’s projected 2021-22 earnings. The PE ratio for the Junior Market Top 10 stocks average a mere 5.4 at just 55 percent of the market average. The Main Market TOP 10 trades at a PE of 7.4 or 50 percent of the PE of that market.
The average projected gain for the Junior Market IC TOP 10 stocks is 274 percent and 186 percent for the JSE Main Market, based on 2021-22 earnings. IC TOP10 stocks are likely to deliver the best returns up to March 2022 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.

Filed Under: Buy Rated Tagged With: Access Financial, Berger Paints, Caribbean Assurance Brokers, Caribbean Producers, Carreras, Daily Trading, Dolphin Cove, Emerging markets, FESCO, General Accident, Grace Kennedy, Jamaica Broilers, Jamaican Stock Exchange, Jamaican stocks, Jamaican Teas, junior market, Laco Distributors, Lasco Financial, Lumber Depot, Main Event, Medical Disposables, PANJAM Investment, Radio Jamaica, Scotia Group, Stationery and Office Supplies, Stocks to Watch, Sygnus Credit Investments, TOP 10 stocks, Trading Activity, Victoria Mutual Investments

Main Market climbs Thursday

April 1, 2021 by IC Insider.com

The stocks market major indices rose at the close on Thursday, adding to Wednesday’s gains, but the day ended with more stocks falling than rising, after an exchange of 46 percent fewer shares valued 77 percent less than on Wednesday at the close of trading on the Stock Exchange Main Market.
At the close, the All Jamaican Composite Index jumped 3,214.49 points to 436,073.64, the JSE Main Index climbed 2,694.71 points to 397,354.26 and the JSE Financial Index gained 0.47 points to settle at 100.10.
Trading ended with 41 securities, down from 47 on Wednesday and closed with prices of 14 stocks rising, 18 declining and nine remaining unchanged. The PE Ratio averages 19 based on ICInsider.com forecast of 2020-21 earnings.
The market closed with 9,152,981 shares trading for $30,114,273 compared to 16,826,539 units at $130,489,494 on Wednesday. Transjamaican Highway led trading with 50.9 percent of total volume in exchanging 4.66 million shares, followed by Wigton Windfarm with 29.9 percent for 2.74 million units and Salada Foods with 5.4 percent market share for 490,267 units.
Trading averaged 223,243 units at $734,494, compared to 358,011 shares at $2,776,372 on Wednesday. March closed with an average of 354,304 units at $2,543,232.
Investor’s Choice bid-offer indicator reading has nine stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Barita Investments climbed $2.90 to $88 in an exchange of a mere 28 shares, Caribbean Cement advanced $2.18 to $70.18 trading 36,149 stocks, Eppley shed 67 cents to settle at $34.10 in a transfer of 410 units. Eppley Caribbean Property Fund dropped $6.50 to $40, with 1,100 shares crossing the market, Grace Kennedy lost 50 cents to finish at $88 with 23,493 units changing hands, Jamaica Broilers gained 20 cents in ending at $29.50 after ownership of 9,156 shares were switched. Jamaica Producers rose $1.98 to $22.50 in exchanging 1,005 units, Jamaica Stock Exchange closed $1.49 lower at $17.50 with the swapping of 109,253 stock units, Key Insurance gained 20 cents to end at $5.90 after trading 147,037 stocks, Kingston Wharves fell 40 cents to $43.60 in switching ownership of 2,226 units. NCB Financial declined $1.50 to $137.50 with the swapping of 8,595 stock units, Palace Amusement jumped $84.65 to $724.65 after exchanging 61 shares, PanJam Investment fell $3 to $62.50 with the transfer of 21,432 stocks. Proven Investments shed $1.30 to close at $33.70 after 1,955 stock units crossed the exchange, Sagicor Group fell 88 cents to $51 in exchanging 59,338 stocks. Salada Foods ended 95 cents lower at $5.80 with 490,267 shares changing hands, Scotia Group slid 92 cents to $40.60 trading 11,420 stock units, Seprod climbed $5.30 to settle at $75 in exchanging 28,048 units and Supreme Ventures shed 51 cents to $14.89 in the swapping of 13,785 stocks.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: Barita Investments, Berger Paints, Caribbean Cement, Carreras, Community & Workers Credit Union, Daily Trading, Emerging markets, Eppley, Eppley Caribbean Property Fund, First Rock Capital, Grace Kennedy, Jamaica Broilers, Jamaica Producers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Key Insurance, Kingston Properties, Kingston Wharves, Mayberry Investments, Mayberry Jamaica Equities, NCB Financial, PANJAM Investment, Portland JSX, Proven Investments, QWI Investments, Radio Jamaica, Sagicor Group, Sagicor Real Estate Fund, Sagicor Select Fund, Salada Foods, Scotia Group, Seprod, Stanley Motta, Supreme Ventures, Sygnus Credit, Trading Activity, Transjamaican Highway, Victoria Mutual Investments, Wigton Windfarm, Wisynco Group

Q1 miss for JSE Main Market

March 31, 2021 by IC Insider.com

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Stocks ended trading on Wednesday with the market rebounding with more stocks rising than declining, after 43 percent fewer shares changed hands valued 45 percent less than on Tuesday at the close of the Jamaica Stock Exchange Main Market and ending the first quarter of the year marginally down from the year’s open.
The All Jamaican Composite Index advanced 2,324.91 points to 432,859.15, the Main Index rose 2,055.33 points to 394,659.55 and the JSE Financial Index gained 0.40 points to settle at 99.63.
Trading ended with 47 securities, up from 40 on Tuesday. Prices of 24 stocks rose, 17 declined and six closed unchanged. The PE Ratio averages 19.3 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with 16,826,539 shares trading for $130,489,494 down from 29,598,642 units at $238,503,294 on Tuesday. Transjamaican Highway led trading with 39 percent of the total volume after trading 6.56 million shares, followed by Wigton Windfarm with 15.8 percent for 2.66 million units and Sagicor Select Financial Fund with 10.7 percent of the day’s trade for 1.80 million units changing hands.
Trading for the day averaged 358,011 units at $2,776,372, sharply down from 739,966 shares at $5,962,582 on Tuesday. Trading month to date averaged 354,304 units at $2,543,232, in contrast to 354,133 units at $2,532,457 on Tuesday. February closed with an average of 419,015 units at $2,509,660.
Investor’s Choice bid-offer indicator reading has twelve stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments rose $1.10 to $85.10 in exchanging 51,693 shares, Caribbean Cement rose by $1 to $68 traing of 5,594 shares, Eppley Caribbean Property Fund shed 40 cents to finish at $46.50, with 18,951 units crossing the market. First Rock Capital lost 20 cents to close at $16.60 in transferring 37,614 stock units, Grace Kennedy rose 50 cents to $88.50 trading 23,567 stocks, Jamaica Broilers climbed $1.85 to $29.30 with the swapping of 19,357 stock units. Jamaica Producers fell $1.63 to $20.52 in exchanging 22,427 units, Jamaica Stock Exchange advanced $1.03 to $18.99 after the ownership switch of 509,339 shares, Key Insurance lost 31 cents in ending at $5.70 with the swapping of 70,568 units, Margaritaville dropped $3 in closing at a 52 weeks’ low of $32 after 600 shares crossed the market. Mayberry Investments gained 38 cents to end at $5.48 with the transfer of 200 stock units, NCB Financial declined by $1 to $139 in trading 13,620 units. 138 Student Living lost 40 cents to close at $5.30 in an exchange of 1,478 shares, Palace Amusement shed $60 to close at a 52 weeks’ low of $640 in exchanging 1,037 stock units, Pan Jam Investment gained 50 cents to close at $65.50 with 520,029 stock units changing hands. Proven Investments shed 90 cents to close at $35 with an exchange of 11,160 stocks, Sagicor Group advanced $1.89 to close at $51.88 in trading 480,479 shares, Salada Foods rose $1.30 to close at a 52 weeks’ high of $6.75 with a transfer of 13,442 stocks, Scotia Group gained 37 cents to close at $41.52 trading 46,641 units. Supreme Ventures rose 40 cents to close at $15.40 with the swapping of 180,570 stock units, Sygnus Credit Investments declined 47 cents to $14.50 trading 34,579 units, Victoria Mutual Investments advanced 44 cents to $5.89 with the swapping of 122,135 shares, Wisynco Group shed 34 cents to close at $15.11 in exchanging 62,400 shares.
In the preference segment, 138 Student Living Preference share rose $1.12 to $5.44, with 20,000 shares clearing the market.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: 138 Student Living, Barita Investments, Caribbean Cement, Carreras, Community & Workers Credit Union, Daily Trading, Emerging markets, Eppley, Eppley Caribbean Property Fund, First Rock Capital, Grace Kennedy, Jamaica Broilers, Jamaica Producers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Key Insurance, Kingston Properties, Kingston Wharves, Mayberry Investments, Mayberry Jamaica Equities, NCB Financial, PANJAM Investment, Proven Investments, QWI Investments, Radio Jamaica, Sagicor Group, Sagicor Real Estate Fund, Sagicor Select Fund, Salada Foods, Scotia Group, Seprod, Stanley Motta, Sterling Investments, Supreme Ventures, Sygnus Credit, Trading Activity, Transjamaican Highway, Victoria Mutual Investments, Wigton Windfarm, Wisynco Group

Salada jumps 23% to record high

March 30, 2021 by IC Insider.com

On a day of declines, Salada Foods jumped 24 percent to a new record close of $5.45 after the original stock was split into 10 units, effective for trading on Tuesday on the Jamaica Stock Exchange Main Market.

Salada Foods traded at a all-time high of $5.45 on Tuesday.

Trading ended with advancing stocks edging out those falling, with an exchange of 116 percent more shares 131 percent higher in value than on Monday on a day, but the market indices slipped at the close.
At the close, the All Jamaican Composite Index declined 1,087.36 points to 430,534.24, the JSE Main Index shed 967.71 points to 392,604.22 and the JSE Financial Index gained 0.35 points to settle at 99.23.
Trading ended with 40 securities down from 49 on Monday and closed with prices of 17 stocks rising, 15 declining and eight remaining unchanged. The PE Ratio averages 19.3 based on ICInsider.com forecast of 2020-21 earnings.
The market closed with 29,598,642 shares trading for $238,503,294 up sharply from 13,714,211 units at $103,241,108 on Monday. Mayberry Jamaican Equities led trading with 65.5 percent of total volume for 19.38 million shares, followed by Transjamaican Highway with 10.4 percent for 3.09 million units, Supreme Ventures with 10.4 percent for 3.07 million units and Wigton Windfarm with 6.2 percent market share for 1.83 million units changing hands.
Trading averaged 739,966 units at $5,962,582, up from an average of 279,882 shares at $2,106,961 on Monday. Trading month to date averages 354,133 units at $2,532,457, up from 338,336 units at $2,392,022 on Monday. February closed with an average of 419,015 units at $2,509,660.
Investor’s Choice bid-offer indicator reading has nine stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Berger Paints shed 20 cents to close at $13, with 3,685 shares crossing the exchange, Caribbean Cement shed $1 to end at $67 in transferring 10,056 stocks. Eppley climbed $2.67 to close at $34.77 with the swapping of 1,417 shares. Eppley Caribbean Property Fund rose 41 cents to end at $46.90 after 38,402 units crossed the exchange, First Rock Capital advanced 80 cents to $16.80, with 15,817 stocks clearing the market, Grace Kennedy fell 50 cents to $88 with an exchange of 18,536 units. Jamaica Broilers fell $1.85 to $27.45 in trading 66,847 stocks, Jamaica Producers shed 85 cents to settle at $22.15 with the swapping of 15,257 shares, Jamaica Stock Exchange declined 99 cents to $17.96 in exchanging 800 stocks. JMMB Group rose 29 cents to $32.89 in trading 403,731 shares, Key Insurance advanced 96 cents to $6.01 with 273,287 stocks changing hands, Mayberry Investments declined 64 cents to $5.10 after 78,980 units crossed the market. NCB Financial rose $1.50 to $140 in exchanging 8,370 shares, Proven Investments gained $1.90 to $35.90 trading 53,710 stock units. Sagicor Group advanced 49 cents to $49.99 with the swapping of 7,945 units. Sagicor Real Estate Fund rose $1.11 to $8.31 after a transfer of 300 stocks, Salada Foods jumped $1.05 to a record close of $5.45, trading 41,837 stock units. Seprod shed $1.50 to close at $69.60 in an exchange of 7,052 stock units, Sygnus Credit Investments gained 37 cents in ending at $14.97 trading 90,548 units and Wisynco Group fell 25 cents to $15.45 after a transfer of 20,763 shares.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: 138 Student Living, Barita Investments, Berger Paints, Caribbean Cement, Carreras, Community & Workers Credit Union, Daily Trading, Emerging markets, Eppley, Eppley Caribbean Property Fund, First Rock Capital, Grace Kennedy, Jamaica Broilers, Jamaica Producers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Key Insurance, Mayberry Investments, Mayberry Jamaica Equities, NCB Financial, Portland JSX, Proven Investments, QWI Investments, Radio Jamaica, Sagicor Group, Sagicor Real Estate Fund, Sagicor Select Fund, Salada Foods, Scotia Group, Seprod, Stanley Motta, Supreme Ventures, Sygnus Credit, Trading Activity, Transjamaican Highway, Victoria Mutual Investments, Wigton Windfarm, Wisynco Group

Another down day for JSE majors

March 29, 2021 by IC Insider.com

Investors hit the bulk of prices of stocks trading and leading the market into decline, with advancing stocks vastly outnumbered by those declining on Monday after an exchange of 77 percent more shares valued 126 percent more than on Friday at the close of the Jamaica Stock Exchange Main Market.
The All Jamaican Composite Index declined 1,805.24 points to 431,621.60, the JSE Main Index retreated 1,581.94 points to 393,571.93 and the JSE Financial Index lost 0.58 points to close at 98.88.
Trading ended with 49 securities compared to 45 on Friday and closed with prices of 12 stocks rising, 27 declining and 10 remaining unchanged. The PE Ratio averages 19.8 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with 13,714,211 shares trading for $103,241,108 up from 7,739,040 units at $45,618,469 on Friday. Wigton Windfarm led trading with 24.8 percent of total volume for 3.4 million shares followed by Jamaica Stock Exchange, 22.1 percent with 3.03 million, Sagicor Select Manufacturing & Distribution Fund ended with 16.9 percent for 2.32 million units and Transjamaican Highway with 10.9 percent after 1.50 million units changed hands.
Trading for the day averaged 279,882 units at $2,106,961, down from an average of 171,979 shares at $1,013,744 on Friday. Trading month to date averaged 338,137 units at $2,423,642, in contrast to 341,423 units at $2,407,074 on Friday. February closed with an average of 419,015 units at $2,509,660.
Investor’s Choice bid-offer indicator reading has seven stocks ending with bids higher than their last selling prices and six with lower offers.
At the close, Berger Paints lost 30 cents to close at $13.20, with 569 stocks changing hands, Caribbean Cement climbed $3.05 to $68 in trading 2,151 shares, Eppley fell 90 cents to $32.10 in crossing the exchange with 3,457 stock units, Eppley Caribbean Property Fund rose 82 cents to $46.49 after transferring 8,634 units. First Rock Capital shed 72 cents to close at $16 after 69,545 shares crossed the market, Jamaica Producers shed 22 cents to $23 trading 14,217 stock units, JMMB Group advanced $1.10 to $32.60 in an exchange of 46,776 stocks. Key Insurance lost 23 cents at $5.05 trading 25 units, Mayberry Investments gained 24 cents to settle at $5.74 with the swapping of 17,516 stocks. NCB Financial declined $1.50 to $138.50 in an exchange of 26,177 shares, Palace Amusement climbed $20 to $700 trading 156 stock units, Pan Jam Investment fell $1 to $65 after clearing the market of 188,074 shares. Proven Investments shed 90 cents to settle at $34 in switching ownership of 64,707 stocks, Sagicor Group fell 48 cents to $49.50 with an exchange of 16,194 stocks, Sagicor Real Estate Fund declined $1.10 to end at $7.20 with the swapping of 5,522 shares. Salada Foods lost 50 to finish at $44 with 63,894 stock units crossing the market, Seprod advanced $2.10 to $71.10 with 6,110 units changing hands. Supreme Ventures lost 30 cents to end at $15 with the swapping of 47,761 shares and Wisynco Group rose 40 cents to $15.70 with an exchange of 19,151 stock units.
In the preference segment, Eppley 8.75% preference share fell 41 cents to $7.11 in exchanging 100 stocks and JMMB Group 7.25% gained 20 cents in ending at $1.45 with 15 stock units switching owners.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: 138 Student Living, Barita Investments, Berger Paints, Caribbean Cement, Carreras, Community & Workers Credit Union, Daily Trading, Emerging markets, Eppley, Eppley Caribbean Property Fund, First Rock Capital, Grace Kennedy, Jamaica Broilers, Jamaica Producers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Key Insurance, Kingston Properties, Kingston Wharves, Mayberry Investments, NCB Financial, PANJAM Investment, Portland JSX, Proven Investments, QWI Investments, Radio Jamaica, Sagicor Group, Sagicor Real Estate Fund, Sagicor Select Fund, Salada Foods, Scotia Group, Seprod, Stanley Motta, Sterling Investments, Supreme Ventures, Sygnus Credit, Trading Activity, Transjamaican Highway, Victoria Mutual Investments, Wigton Windfarm, Wisynco Group

Rising Junior Market shifts up IC TOP10

March 28, 2021 by IC Insider.com

During the past week, the Junior Market moved decisively up, with the market index closing well above the 2,900 mark that became a barrier for weeks, surpassing the 3,000 level, but closed trading since Tuesday just a few points below and is poised to move higher in the weeks ahead. Main Market stocks remain in the consolidation zone awaiting profit results to move prices higher.
TOP 10 stocks had a few changes during the past week, with Berger Paints back in the Main Market TOP10, replacing Sterling Investments that entered the list last week, while in the Junior Market, Caribbean Assurance Brokers returns to the TOP 10 as General Accident moved out.
This publication has stated that Junior Market TOP10 contains several companies that suffered a sharp reversal of fortunes in 2020, with recovery projected in 2021. Green shoots are showing for some with sales picking up in recent quarters, with improving profit. Some of these companies may require another quarter or two of improvement before meaningful buying starts. Main Event is one such company, reporting a profit on reduced income for the January quarter. Revenues climbed solidly in the latest quarter over the October and July quarters, but still far below the prior year’s level. Caribbean Producers is another that will definitely benefit from pick up in the tourist trade later in the year. Expect also companies such as Knutsford Express, Express Catering and Stationery and Office Supplies to be on that list.
The Main Market has a number in the list that have put out record profits or show signs of strong earnings in 2021, with the stocks clearly undervalued; these include JMMB Group, Jamaica Broilers, Sygnus Credit Investments and Grace Kennedy that are currently in the TOP10 Main Market listing and Caribbean Cement that is just outside.
Both the Junior Market and the Main Market continue to get support from technical indicators that point to robust gains ahead. To benefit from the growth in the market to come, many investors will need to be on board at an early stage.
This week’s focus: Future Energy Source Company Initial Public Offer of 500 million shares at 80 cents per share opens on Wednesday, with pretax earnings for the fiscal year to March this year around 7 cents per shares. The shares should be snapped up quickly by investors, with the company having long-term prospects for strong growth.
The top three stocks in the Junior Market mostly changed, with the potential to gain between 285 to 288 percent are Elite Diagnostic, followed by Main Event and Jetcon Corporation. The top three Main Market stocks with expected gains of 173 to 433 percent are Radio Jamaica, followed by VM Investments and Jamaica Broilers.
The local stock market’s targeted average PE ratio is 20 based on profits of companies reporting full year’s results, up to the second quarter of 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 15 and the Junior Market 10, based on ICInsider.com’s projected 2021-22 earnings. The PE ratio for the Junior Market Top 10 stocks average a mere 5.5 at just 55 percent of the market average. The Main Market TOP 10 stocks trade at a PE of 7.4 or 50 percent of the PE of that market.
The average projected gain for the Junior Market IC TOP 10 stocks is 267 percent and 184 percent for the JSE Main Market, based on 2021-22 earnings. IC TOP10 stocks are likely to deliver the best returns up to March 2022 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.

Filed Under: Buy Rated, JSE Combined, Stock Market Tagged With: Access Financial, Berger Paints, Caribbean Assurance Brokers, Caribbean Producers, Daily Trading, Emerging markets, FESCO, General Accident, Grace Kennedy, Jamaica Broilers, Jamaican Stock Exchange, Jamaican stocks, junior market, Laco Distributors, Lasco Financial, Main Event, Medical Disposables, PANJAM Investment, Radio Jamaica, Scotia Group, Stationery and Office Supplies, Stocks to Watch, Sygnus Credit Investments, TOP 10 stocks, Trading Activity, Victoria Mutual Investments

Gains for Main market stocks

March 26, 2021 by IC Insider.com

Trading dropped sharply on Friday, with an exchange of 93 percent fewer shares at 86 percent less value than on Thursday, but the market indices rose after marginally more stocks advanced than declined at the close of the Jamaica Stock Exchange Main Market.
The All Jamaican Composite Index advanced 2,733.33 points to 433,426.84, the Main Index rose 2,535.44 points to 395,153.87 and the JSE Financial Index gained 0.82 points to settle at 99.46.
Trading ended with 45 securities, down from 48 on Thursday and closed with prices of 18 stocks rising, 17 declining and 10 remaining unchanged. The PE Ratio averages 19.9 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with 7,739,040 shares trading for $45,618,469 compared to 108,504,798 units at $315,828,525 on Thursday. Transjamaican Highway led trading with 32.8 percent of total volume for 2.53 million shares, followed by Sagicor Select Financial Fund with 17.6 percent for 1.36 million units and Wigton Windfarm with 17.1 percent of the day’s trade for 1.32 million units.
Trading for the day averaged 171,979 units at $1,013,744, compared to an average of 2,260,517 shares at $6,579,761 on Thursday. Month to date trading averaged 341,423 units at $2,407,074, in contrast to 350,058 units at $2,478,082 on Thursday. February closed with an average of 419,015 units at $2,509,660.
Investor’s Choice bid-offer indicator reading has ten stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Barita Investments shed 20 cents to $83.80 with an exchange of 54,584 shares, Berger Paints gained 39 cents in ending at $13.50 and trading 2,000 stocks, Caribbean Cement fell 55 cents to $64.95, with 6,150 stock units clearing the market. Eppley Caribbean Property Fund rose $2.18 to $45.67 with 4,108 units changing hands, Grace Kennedy gained 25 cents to close at $88.50 in trading 3,205 stocks, Jamaica Producers advanced $2.22 to $23.22 with the trading of 440 shares. JMMB Group shed $1.40 in closing at $31.50 after the transferring of 29,763 units, Key Insurance rose 30 cents to $5.28 with the swapping of 69,521 shares, NCB Financial Group climbed $2.48 to close at $140 trading 16,238 stocks. Palace Amusement fell $19 to $680, with 443 units crossing the exchange, Proven Investments shed 60 cents in ending at $34.90 with 19,845 stock units clearing the market, Sagicor Group gained 23 cents to finish at $49.98 in transferring 321,790 units. Salada Foods rose $1.50 to $44.50 with the swapping of 10,915 shares, Scotia Group closed 74 cents higher at $41.25 with an exchange of 8,767 stock, Seprod dropped $4 to $69 in trading 94,793 units and Supreme Ventures finished 20 cents higher at $15.30 in switching ownership of 37,927 stock units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: 138 Student Living, Barita Investments, Berger Paints, Caribbean Cement, Carreras, Community & Workers Credit Union, Daily Trading, Emerging markets, Eppley, Eppley Caribbean Property Fund, First Rock Capital, Grace Kennedy, Jamaica Broilers, Jamaica Producers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Key Insurance, Kingston Properties, Kingston Wharves, Mayberry Jamaica Equities, NCB Financial, PANJAM Investment, Proven Investments, QWI Investments, Radio Jamaica, Sagicor Group, Sagicor Real Estate Fund, Sagicor Select Fund, Salada Foods, Scotia Group, Seprod, Sterling Investments, Supreme Ventures, Sygnus Credit, Trading Activity, Transjamaican Highway, Victoria Mutual Investments, Wigton Windfarm, Wisynco Group

Radio Jamaica dominates Main Market

March 25, 2021 by IC Insider.com

Radio Jamaica dominated trading on the main market of the Jamaica Stock Exchange on Thursday with nearly 95 million shares accounting for 87 percent of total volume on a day when the market declined marginally after the volume of shares exchanged soared 873 percent and the value rose 63 percent higher than on Wednesday. At the close, the All Jamaican Composite Index shed 48.69 points to 430,693.51, the JSE Main Index declined 53.00 points to 392,618.43 and the JSE Financial Index lost 0.09 points to settle at 98.64.
Trading ended with 48 securities, down from 51 on Wednesday and closed with prices of 21 stocks rising, 14 declining and 13 remaining unchanged. The PE Ratio averages 19.6 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with 108,504,798 shares trading for $315,828,525 compared to 11,146,482 units at $193,454,160 on Wednesday. Radio Jamaica led trading with 87.4 percent of total volume for 94.78 million shares, followed by Carreras with 4.7 percent for 5.09 million units, Wigton Windfarm 2.2 percent for 2.43 million units, Transjamaican Highway with 1.4 percent for 1.48 million units and Sagicor Group 1.1 percent for 1.20 million units changing hands.
Trading averaged 2,260,517 units at $6,579,761, compared to 218,558 shares at $3,793,219 on Wednesday. Trading month to date averaged 350,058 units at $2,478,082 in contrast to 240,236 units at $2,242,297 on Wednesday. February closed with an average of 419,015 units at $2,509,660.
Investor’s Choice bid-offer indicator reading has thirteen stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Barita Investments rose 90 cents to $84 with an exchange of 117,814 shares, Caribbean Cement shed 51 cents to close at $65.50 trading 194 units, Eppley advanced $1.12 to $32.99 in the swapping of 3,486 stocks, Eppley Caribbean Property Fund finished $1.49 higher at $43.49 in an exchange of 590 units. Grace Kennedy rose 83 cents to $88.25, with 174,402 stock units crossing the market, Jamaica Broilers gained 41 cents to settle at $29.41 in transferring 14,968 shares, JMMB Group picked up 24 cents to close at $32.90 with 376,901 stocks changing hands. Key Insurance lost 32 cents at $4.98 after exchanging 33,711 units, Margaritaville fell $2 to $35, with 200 shares clearing the market, Mayberry Investments gained 31 cents to close at $5.50, with a transfer of 1,200 stock units. NCB Financial shed 49 cents to $137.52 with the swapping of 23,902 shares, 138 Student Living gained 49 cents to close at $5.99, with 16,768 stocks crossing the market, PanJam Investment rose 99 cents to $66 trading 51,313 units. Proven Investments advanced $1.50 to $35.50 in an exchange of 122,469 stock units, Sagicor Group rose $1.75 to $49.75 in exchanging 1,195,665 shares, Scotia Group ended 74 cents lower at $40.51 with the swapping of 14,908 stock units, Seprod rose $1 to $73 with 45,709 units changing hands. Sterling Investments gained 21 cents to settle at $2.91in the transfer of 24,212 stocks and Wisynco Group shed 62 cents to close at $15.38, with 28,391 stocks changing hands.
In the preference segment, JMMB Group 7.25% dropped 16 cents in closing at $1.25 in an exchange of 1,130 shares.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: 138 Student Living, Barita Investments, Berger Paints, Caribbean Cement, Carreras, Community & Workers Credit Union, Daily Trading, Emerging markets, Eppley, Eppley Caribbean Property Fund, First Rock Capital, Grace Kennedy, Jamaica Broilers, Jamaica Producers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Key Insurance, Kingston Properties, Kingston Wharves, Mayberry Investments, Mayberry Jamaica Equities, NCB Financial, PANJAM Investment, Proven Investments, QWI Investments, Radio Jamaica, Sagicor Group, Sagicor Real Estate Fund, Sagicor Select Fund, Salada Foods, Scotia Group, Seprod, Stanley Motta, Sterling Investments, Supreme Ventures, Sygnus Credit, Trading Activity, Transjamaican Highway, Victoria Mutual Investments, Wigton Windfarm, Wisynco Group

JSE Main Market climbs

March 24, 2021 by IC Insider.com

Stocks trading on Wednesday ended with the market bouncing after Tuesday decline in the market indices, as investors put down 90 percent funds in trading 8 percent more shares than on Tuesday at the close of the Jamaica Stock Exchange Main Market.
The All Jamaican Composite Index advanced 1,009.51 points to 430,742.20, the Main Index rose 966.73 points to 392,671.43 and the JSE Financial Index gained 0.38 points to settle at 98.73.
Overall, 51 securities traded, up from 50 on Tuesday and closed with prices of 19 stocks rising, 23 declining and nine remaining unchanged. The PE Ratio averages 19.4 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with 11,146,482 shares trading for $193,454,160 compared to 10,353,699 units at $101,569,397 on Tuesday. Ciboney Group led trading with 17.6 percent of total volume for 1.96 million shares followed by Transjamaican Highway with 14.1 percent for 1.57 million units, PanJam Investment with 9.8 percent for 1.10 million units and JMMB Group with 9.4 percent for an exchange of 1.05 million units.
Trading for the day averaged 218,558 units at $3,793,219, up from 207,074 shares at $2,031,388 on Tuesday. Month to date, trading averaged 240,236 units at $2,242,297, in contrast to 241,646 units at $2,141,408 on Tuesday. February closed with an average of 419,015 units at $2,509,660.
Investor’s Choice bid-offer indicator reading has ten stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Barita Investments climbed $3 to $83.10 after exchanging 590,667 stock units, Berger Paints shed 46 cents to end at $13.01 in switching ownership of 2,664 stocks, Caribbean Cement advanced $1.51 to $66.01, with 26,035 units clearing the market, Eppley shed 86 cents to $31.87 with an exchange of 1,841 shares. Eppley Caribbean Property Fund rose $1.50 to $42 with 5,794 stocks changing hands, Grace Kennedy fell $1.08 to $87.42 after a transfer of 4,822 units, Jamaica Broilers lost 30 cents to close at $29 trading 174,370 shares. Jamaica Producers fell $1 to $21, with 109,300 stock units crossing the market, Jamaica Stock Exchange gained 23 cents to end at $18.98 after exchanging 34,463 units, JMMB Group lost 22 cents to close at $32.66 in trading 1,050,163 shares. Key Insurance gained 25 cents to end at $5.30 in exchanging 119,217 stocks, Mayberry Investments declined 44 cents to $5.19 with the swapping of 302 units, Mayberry Jamaican Equities picked up 27 cents ending at $8.10 after a transfer of 107,392 stocks. NCB Financial declined $1.99 to $138.01 with 38,583 stock units changing hands, 138 Student Living dropped $1.38 to $5.50 in trading 1,050 units, PanJam Investment rose $1.31 to $65.01 with the swapping of 1,097,749 shares, Sagicor Group declined $2 to $48 in trading 60,966 stock units. Salada Foods fell $1.49 to $43 in exchanging 21,731 units, Seprod advanced $2 to $72 in switching ownership of 28,284 shares and Supreme Ventures lost 22 cents to close at $15.28 with 139,631 stocks changing hands.
In the preference segment, 138 Student Living preference share gained 55 cents to close at $4.32 after exchanging just two stock units and Eppley 8.25% fell 59 cents to end at $6.41 in transferring 6 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.