In a week when most results for the 2024 first quarter were released, the JSE Jamaica Stock Exchange junior market had major swings while the Main Market continued to record gains. Only three stocks in the IC TOP10 recorded notable gains while 4 suffered sizable declines, the impact was that 3 new stocks entered the TOP10.
Dropping from the ICTOP10 this week are ISP Finance from the Junior Market and from the Main Market General Accident and Scotia Group. Earnings for ISP Finance were adjusted to $1.60 per share to reflect what the first quarter results suggest. Prices of General Accident and Scotia Group moved up slightly and were replaced by stocks that had lower prices by the end of the week.
tTech gained 9 percent to close at $2.20 following the company reporting earnings for the first quarter. Based on the report and other data, earnings for the current year have expanded to 35 cents per share, up from 30 cents originally projected. This is the only major upward price move in the week, for the Junior Market ICTOP10 as AMG Packaging, fell 17 percent $2.89, followed by Access Financial and Caribbean Assurance Brokers each down 9 percent to close at $18.00 and $3.20 respectively and ISP Finance chipped in with a 5 percent fall to $28.01 had your full cup chopped 4 percent to $0.90.
In the Main Market, Berger Pant, added to the list last week, jumped 17 percent to close at $8.50. Compared to last week, more sellers came into the market than at the close the previous week, but that did not prevent the stock from posting gains of 70 percent just before the company released results during the last week. selling in the stock is moderate below $12. Palace Amusement rose 6 percent to $1.08, while there were no major losses in the market during the week.
Dolla Financial is the only new listing for the ICTOP10 Junior Market for the week. In the Main Market, Pulse Investments and Lasco Manufacturing which dropped out of the list last week, are now in the ICTOP10.
The average PE for the JSE Main Market ICTOP 10 stands at 5.2, well below the market average of 13.3 and the Junior Market TOP10 sits at 7.3, just over half of the market, with an average of 12.6.
The Main Market ICTOP10 is projected to gain an average of 288 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 220 percent over the same period.
In the Main Market ICTOP 10, a total of 15 of the most highly valued stocks representing 29 percent of the Main Market are priced at a PE of 15 to 79, with an average of 32 and 20 excluding the highest PE ratios, and a PE of 20 for the top half and 16 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 12 stocks, or 26 percent of the market, with PEs ranging from 15 to 41, averaging 20, well above the market’s average. The average PE in the top half of the market is 17, possibly the lowest fair value for stocks, currently.
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 market closed with an exchange of 280,988 shares for US$32,878 compared to 102,017 units at US$10,991 on Thursday.
At the close, First Rock Real Estate USD share slipped 0.01 of a cent to 4.69 US cents with 106 shares crossing the market, Proven Investments lost 0.79 of one cent in closing at 13.09 US cents with investors trading 242,886 stock units and Transjamaican Highway rose 0.02 of a cent to end at 2.05 US cents after 37,951 shares passed through the market.
The market closed with 26,822,609 shares trading for $484,009,143 up from just 6,147,676 units for a mere $35,957,977 on Thursday.
The All Jamaican Composite Index climbed 1,282.66 points to 358,400.25, the JSE Main Index increased 854.69 points to end trading at 321,317.22 and the JSE Financial Index rose 0.34 points to settle at 68.27.
Jamaica Broilers popped 49 cents to close at $31 after 22,298 units crossed the market, Jamaica Stock Exchange sank $2.01 to close at $9.25 after an exchange of 3,201 stocks, JMMB Group shed 51 cents to end at $23.50 after 27,027 units were traded. Kingston Wharves advanced $1.04 to close at $26 with an exchange of 8,458 stocks, Mayberry Group gained 50 cents in closing at $8 as 10,016 shares passed through the market, NCB Financial rose $1 to end at $63 as investors exchanged 569,374 stock units. Pan Jamaica gained $1.50 to close at $47.50 with a transfer of 5,734 shares, Sagicor Real Estate Fund popped 59 cents to close at $7.64 after an exchange of 23 stocks, Scotia Group rallied $1.75 in closing at $43.25 with investors transferring 64,233 units. Seprod declined $2 to end at $78, with 614 stock units changing hands and Wisynco Group lost 65 cents to finish at $20.50 after an exchange of 8,096 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading ended with 5,151,901 shares for $13,657,450 versus 11,052,377 units at $16,339,934 on Thursday.
The Junior Market ended trading with an average PE Ratio of 12.3, based on last traded prices in conjunction with earnings projected by ICInsider.com for financial years ending on or around August 2025.
GWest Corporation sank 8 cents to 94 cents after an exchange of 36,157 stocks, Indies Pharma dropped 33 cents to $2.36 with investors trading 110,000 stocks, Jamaican Teas gained 9 cents and ended at $2.39 in switching ownership of 151,903 shares. Jetcon Corporation lost 12 cents to end at 87 cents with investors trading 843 stock units, JFP Ltd advanced 14 cents in closing at $1.18 in an exchange of 25,304 stocks, Lasco Financial rose 19 cents to close at $1.69 with investors trading 878 units. Limners and Bards rallied 24 cents to close at $1.76, with 143,518 stocks changing hands, Medical Disposables skidded 8 cents to finish at $2.20 with traders dealing in 553 units, ONE on ONE Educational increased 7 cents and ended at 82 cents with 25,172 shares clearing the market and Paramount Trading climbed 16 cents to end at $1.45 in trading 26,982 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
At the close of trading, the JSE Combined Market Index climbed 1,251.08 points to 333,992.93, the All Jamaican Composite Index jumped 1,282.66 points to 358,400.25, the JSE Main Index rose 854.69 points to wrap-up trading at 321,317.22. The Junior Market Index surged 61.95 points to conclude trading at 3,726.59 and the JSE USD Market Index popped 0.06 points to finish at 237.05.
In the Junior Market, Dolla Financial led trading with 2.10 million shares followed by Fosrich with 1.03 million stocks and Derrimon Trading with 525,307 units.
Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The market closed with an exchange of 102,017 shares for US$10,991 compared with 379,029 stock units at US$8,339 on Wednesday.
Proven Investments fell 0.01 of a cent and ended at 13.88 US cents after closing with 2,965 stocks changing hands, Sygnus Credit Investments rose 0.78 of one cent to finish at 8.48 US cents with a transfer of 5 shares and Transjamaican Highway dipped 0.08 of a cent to close at 2.03 US cents, with 98,221 stock units changing hands.
The market closed with an exchange of 6,147,676 shares for $35,957,977 compared with 12,161,308 units at $176,680,058 on Wednesday.
The Main Market ended trading with an average PE Ratio of 12.4. 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 2025.
GraceKennedy sank $2 to $74 with a transfer of 92,957 units, Guardian Holdings climbed $9.98 to finish at $369.98 after 200 stock units passed through the market, Jamaica Broilers slipped 59 cents and ended at $30.51 with investors transferring 40,644 shares. Jamaica Stock Exchange popped $2.22 to close at $11.26 after an exchange of 11,305 stock units, JMMB Group lost 49 cents in closing at $24.01 in trading of 105,121 units, Kingston Wharves dipped $1.04 to end at $24.96 and closed after an exchange of 3,446 stocks. NCB Financial skidded $1.99 in closing at $62 with an exchange of 39,680 units, Pan Jamaica fell $1.50 to $46, with 3,190 stocks crossing the market, Sagicor Real Estate Fund shed 59 cents to finish at $7.05 as investors exchanged 307 shares. Scotia Group dipped 50 cents and ended at $41.50 in switching ownership of 112,313 stock units and Stanley Motta lost 93 cents to end at $6.61, with 3,572 shares changing hands.
In the preference segment, 138 Student Living preference share skidded $4.03 to close at $214 in an exchange of 22 stock units, Productive Business Solutions 9.75% preference share sank $8.50 to $105 with investors dealing in 1,200 stocks and Sygnus Credit Investments C10.5% slipped $2 to finish at $108 after exchanging 500 units.
Trading ended with 11,052,377 shares for $16,339,934 down sharply from 50,366,450 stocks at $107,450,383 on Wednesday.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and four with lower offers.
Everything Fresh dipped 15 cents to end at $1.70 after 160,656 stocks crossed the market, Fontana lost 20 cents to finish at $8.30 with a transfer of 56,095 units, Honey Bun advanced 64 cents to close at $7.90, with 17,713 stock units changing hands. Indies Pharma gained 32 cents to $2.69 after 5,422 shares passed through the market, Lasco Financial dropped 19 cents to end at $1.50 in switching ownership of 138,593 units, Lumber Depot shed 14 cents in closing at $2.50 with 213,320 stocks crossing the exchange. Medical Disposables popped 28 cents and ended at $2.28 after investors ended trading 745 stock units, MFS Capital Partners advanced 7 cents to close at $1.46 in an exchange of 644,161 shares, Paramount Trading rose 12 cents to finish at $1.29 with investors swapping 15,222 stock units. Spur Tree Spices skidded 9 cents to $2.20 and closed with an exchange of 284,615 units and Tropical Battery rallied 12 cents to end at $2.40 as investors exchanged 564,469 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
At the close of trading, the JSE Combined Market Index climbed 764.41 points to 332,741.85, the All Jamaican Composite Index rallied 231.05 points to wrap-up trading at 357,117.59, the JSE Main Index gained 655.93 points to conclude trading at 320,462.53. The Junior Market Index gained 19.46 points to 3,664.64 and the JSE USD Market Index popped 0.56 points to lock up trading at 236.99.
In the preference segment, 138 Student Living preference share skidded $4.03 to close at $214, Productive Business Solutions 9.75% preference share sank $8.50 to $105 and Sygnus Credit Investments C10.5% slipped $2 to finish at $108.
Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
At the close, Margaritaville advanced 1.28 cents to 9.81 US cents with investors swapping 119 shares, Proven Investments rose 0.39 of one cent to finish at 13.89 US cents in switching ownership of just one stock, Sterling Investments fell 0.07 of a cent and ended at 1.53 US cents after 31,198 stock units passed through the market. Sygnus Credit Investments remained at 7.7 US cents after exchanging 9,133 units and Transjamaican Highway rallied 0.09 of a cent in closing at 2.11 US cents with investors dealing in 338,578 shares.
