Price movements in the ICTOP10 this past week as mostly muted with the Main Market having only two stocks with notable price changes while the Junior Market three, while both markets had one new listing.
Market movements resulted in prices of 5 stocks rising and 3 declining in the Junior Market ICTOP10 while the Main Market ICTOP10 ended with two gains and 2 losses.
In the Junior Market ICTOP10, Caribbean Flavours ran up 7 percent to $1.34 and Iron Rock Insurance gained 4 percent to $3.75, while AMG Packaging fell 6 percent to $3.
In the Main Market ICTOP10, Berger Paints rose 9 percent to $7.82 and Key Insurance fell 10 percent to close at $2.16.
The All JSE ICTOP10, compiled from all listed ordinary stocks on the Jamaica Stock Exchange ended the week with Key Insurance falling out and replaced by AMG Packaging
Iron Rock Insurance fell out of the Junior Market ICTOP10 and is replaced by Limners and Bards. In the Main Market ICTOP10, VM Investments returns after a one week’s absence, replacing Key Insurance that reported earnings of just 12 cents per share for the full year, much lower than projected.
The average PE for the JSE Main Market ICTOP 10 sits at just 5.9, well below the market average of 15.7 and the Junior Market TOP10 stands at 7.7, more than half of the market, with an average of 13.4.
Based on the earnings estimates for 2024, the Main Market ICTOP10 is projected to gain an average of 256 percent by May 2025, providing better values than the Junior Market, projected to achieve a 172 percent increase for the same period.
In the Main Market ICTOP 10, there are 17 stocks with the highest values representing 33 percent of the Main Market, with PEs between 15 to 105, with an average of 30 and 24 excluding the highest PE ratios and a PE of 26 for the top half of the market with the highest values and 20 excluding the stocks with overweight values.
In the Junior Market IC TOP10, 15 stocks or 31 percent of the market have PEs ranging from 15 to 33 with an average of 20 and a PE of 18 for half of the market with the highest PEs.
The 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 2025 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, resulting 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 week closed with the Main Market index losing 1,770.19 points or 0.54 percent or points while the all Jamaica composite index declined by 0.75 percent or 2,847.1 points and the Junior Market lost 2.2 percent for a fall of 82.14 points. Market movements resulted in prices of just three stocks rising and five declining in the Junior Market ICTOP10 while the Main Market ICTOP10 ended with two gains and four losses.
Dolphin Cove after a long absence returns to the Junior Market ICTOP10, fallowing a big drop in price during the week, while Iron Rock Insurance returns after a week’s abscence. Dropping out ot the Junior Market Top 10 are Limners and Bards and Cargo Handlers. In the Main Market ICTOP10, VM Investments dropped out, replaced by NCB, with the price at an appealing level for long term investments.
In the Junior Market IC TOP10, 16 stocks or 33 percent of the market have PEs ranging from 15 to 31 with an average of 19 and a PE of 18 for half of the market with the highest PEs.
Market movements resulted in prices of just three stocks rising and six declining in the Junior Market ICTOP10 while the Main Market ICTOP10 ended with three gains and two losses.
Dolla Financial and Kintyre Holdings entered the Junior Market ICTOP10, with Jamaican Teas and Iron Rock Insurance dropping out. In the Main Market ICTOP10, Caribbean Producers returns, replacing JMMB Group following the downgrading of earnings for the current fiscal year ending in March. Dolla Financial earnings are based on 2025 projections. The forecast assumes more borrowed funds are taken on during the year to finance expansion. Kintyre Holdings reported earnings of 8 cents for 2024, the latest quarterly numbers suggest earnings should reach 25 cents per share during 2025, all things being equal. The historical performance of the company, suggests a high degree of risk is associated with an investment in the stock.
In the Junior Market IC TOP10, 16 stocks or 33 percent of the market have PEs ranging from 15 to 32 with an average of 19 and a PE of 18 for half of the market with the highest PEs.
Market movements resulted in prices of just three stocks rising and six declining in the Junior Market ICTOP10 while the Main Market ICTOP10 ended with three gains and two losses.
Market movements resulted in prices of just two stocks rising and four declining in the Junior Market TOP10 stocks while the Main Market TOP10 ended with three gaining and five falling.
MMB Group returns to the Main Market ICTOP10 after a week’s absence, replacing Caribbean Producers. There is no change in the Junior Market ICTOP10 list.
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.
In the Junior Market ICTOP10, Lumber Depot jumped 15 percent to close at $2.94, AMG Packaging rose 10 percent to $3.26 followed by Access Financial and Limners and Bards with an increase of 9 percent to close at $18.55 and $1.31 respectively while Jamaican Teas gained 7 percent to finish trading at $2.22. Caribbean Assurance Brokers declined by 10 percent to $2.49, Express Catering lost 9 percent to close at $3.05 and Caribbean Flavours fell 5 percent in ending at $1.30.
Lumber Depot dropped out of the Junior Market ICTOP10 following the B gain during the week and is replaced by Cargo Handlers. Jamaica Broilers returns to the Main Market ICTOP10 with JMMB Group falling out.
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.
In the Main Market ICTOP10, Scotia Group gained 13 percent to end at $62.00, Jamaica Broilers rose 4 percent in closing at $38.60 and Caribbean Producers declined 6 percent to $8.45.
Based on the earnings projected estimates for 2024, the Main Market ICTOP10 is projected to gain an average of 274 percent by May 2025, providing better values than the Junior Market, projected to achieve a 154 percent increase for the same time.
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.
Only three stocks rose and six declined in the Junior Market ICTOP10 during the week. The Main Market ICTOP10 ended with six stocks gaining and just two declining. The All JSE TOP10, compiled from all listed ordinary stocks on the JSE, had one change, with Jamaica Broilers replacing Caribbean Cream. Guardian Holdings with the potential to gain 436 percent continues to hold the number one spot in the market with 138 Student Living at number 2 in the All JSE ICTOP10. Elite Diagnostics holds the number one spot in the Junior Market TOP10 followed by Express Catering.
The Main Market ICTOP10 Berger Paints added 13 percent to close at $8.34, Caribbean Producers and Scotia Group rose 6 percent to close at $9 and $55, Key Insurance and QWI Investments propped 5 percent to $2.30 and 90 cents respectively.
In the Junior Market IC TOP10 are 14 stocks, 29 percent of the market, with PEs ranging from 15 to 31 with an average of 21 and a PE of 18 for half of the market with the highest PEs.
Just two stocks fell and 8 rose in the Junior Market ICTOP10 during the week, reversing last week’s adverse movement of just two rising and 8 falling. The performance of the Main Market ICTOP10 resulted in three stocks gaining while four declined. The All JSE TOP10, compiled from all listed ordinary stocks on the JSE, had two changes. JMMB Group returns to the All JSETOP10 following a week’s absence along with Caribbean Producers, replacing the Junior Market, Access Financial and AMG Packaging. 
In Main Market ICTOP10 activity, Berger Paints shed 14 percent to close at $7.36, Key Insurance dropped 10 percent to $2.20, Caribbean Producers and Scotia Group lost 5 percent to $8.50 and $52 respectively.
In the Junior Market IC TOP10 are 12 stocks, 25 percent of the market, with PEs ranging from 15 to 32 with an average of 21 and a PE of 18 for half of the market with the highest PEs.
The week’s movement resulted in just two stocks rising and 8 falling, with five suffering big losses in the Junior Market ICTOP10. The performance of the Main Market ICTOP10 was in sharp contrast to the Junior Market, as five stocks gained and only two declined. The All JSE TOP10, compiled from all listed ordinary stocks on the JSE, had two changes. Key Insurance returns to the All JSETOP10 following a week’s absence and Access Financial returns, replacing JMMB Group and Pulse Investments, with earnings for both revised downward, following the release of September results.
In the Junior Market IC TOP10, Iron Rock Insurance was the only stock with a noteable gain, with the price rising 19 percent to $4.29. Lumber Depot dropped 22 percent to $2.08, Caribbean Flavours dived 14 percent to end trading at $1.20, Caribbean Assurance shed 13 percent to end at 2.51 and Express Catering fell 11 percent to $3.01.
The average PE for the JSE Main Market ICTOP 10 stands at just 5.6, well below the market average of 14.9 and the Junior Market TOP10 sits at 7.5, more than half of the market, with an average of 13.