The Junior Market of the Jamaica Stock Exchange suffered a sharp drop on Monday, with declining stocks outnumbering those rising by a two to one margin after the volume of stocks traded climbed 236 percent with 249 percent greater value than on Friday with 41 securities traded, similar to Friday and ended with prices of 11 rising, 23 declining and seven closing unchanged.
Investors traded 11,511,945 shares for $33,462,450, up sharply from 3,421,711 units at $9,593,022 on Friday. Trading averaged 280,779 shares at $816,157 compared with 83,456 units at $233,976 on Friday with a month to date average of 249,837 units at $786,553 compared to 247,709 stock units at $784,516 on the previous trading day. Trading in September averaged 470,099 units at $1,578,447.
Tropical Battery led trading with 2.96 million shares for 25.8 percent of total volume, followed by JFP Ltd with 2.22 million units for 19.3 percent of the day’s trade, Dolla Financial with 1.72 million units for 14.9 percent market share and Fosrich with 1.29 million units for 11.2 percent market share.
At the close, the Junior Market Index shed 58.39 points to settle at 4,075.14.
The PE Ratio, a measure of computing appropriate stock values, averages 12.4. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
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 dipped $2.45 to end at $21.55, as 3,105 shares passed through the market, AMG Packaging shed 40 cents in closing at $3.10 after a transfer of 21,198 stock units, Blue Power fell 34 cents to $3.10 with investors transferring 665 units. Cargo Handlers dropped $1.68 to close at $11.66 after trading 100 stocks, Express Catering climbed 22 cents in ending at $5.30 as investors traded 2,000 shares, Fontana dipped 14 cents to $9.01 in switching ownership of 49,934 stock units. Future Energy Source lost 29 cents to close at $5.11 after exchanging 488,491 units, General Accident shed 52 cents in ending at a 52 weeks’ low of $4.55 and closed with 18,329 stocks changing hands, Honey Bun declined 64 cents to end at $7.02 with a transfer of 31,506 stocks. Indies Pharma rallied 17 cents to $2.97, with 23,098 shares crossing the market, ISP Finance lost $1.96 to close at $15.05, with 100 stock units clearing the market, Lasco Manufacturing fell 75 cents to end at $4 after trading 20,238 units. Lumber Depot dropped 36 cents to $2.53 in dealing 58,441 units, Medical Disposables dipped 64 cents to $5.15 while exchanging 5,100 stocks, MFS Capital Partners gained 17 cents in closing at $2.97, trading 199,646 stock units. Paramount Trading fell 22 cents in closing at $1.82 with an exchange of 158,084 shares, Spur Tree Spices shed 15 cents ending at $3.48, with 416,422 units crossing the market, Stationery and Office Supplies rose 65 cents to $15.80, with 18,810 stock units changing hands. Tropical Battery increased 24 cents to end at $2.69 with the swapping of 2,964,487 stocks and tTech advanced 59 cents to $3.29, with four shares crossing the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE USD market bucks market trend
The Jamaica Stock Exchange US dollar market bucked the negative trend of falling prices on the exchange on Monday by inching moderately higher at the close with a 36 percent increase in the volume of stocks traded but with a 60 percent lower value than on Friday, resulting in 11 securities traded, compared to six on Friday with four rising, four declining and three ending unchanged.
Overall, 524,695 shares were traded for US$7,860 compared to 384,940 units at US$19,700 on Friday.
Trading averaged 47,700 units at US$715, versus 64,157 shares at US$3,283 on Friday, with a month to date average of 39,067 shares at US$2,518 versus 38,270 units at US$2,685 on the previous trading day. September ended with an average of 87,926 units for US$4,746.
The JSE US Denominated Equities Index gained 0.34 points to end at 212.51.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.7. The PE ratio incorporates ICInsider.com earnings forecasts for companies with financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and one stock with a lower offer.
At the close, First Rock Real Estate USD share fell 0.4 of a cent to 7.5 US cents and closed after an exchange of 29,070 shares, Margaritaville remained at 14.98 US cents after 12 stocks passed through the market, Productive Business Solutions rallied 0.1 of a cent to close at US$1.38 with a transfer of two stock units. Proven Investments shed 0.01 of a cent to 19.99 US cents after exchanging 1,970 units, Sterling Investments climbed 0.29 of one cent to 2.19 US cents as investors exchanged 89 stocks, Sygnus Credit Investments J$ share ended at 15.63 US cents in an exchange of 5,743 units. Sygnus Credit Investments USD share dipped 0.01 of a cent to close at 9.99 US cents while exchanging 2,079 stock units, Sygnus Real Estate Finance USD share increased 0.63 of one cent to 11.63 US cents, with 27 shares clearing the market and Transjamaican Highway declined 0.07 of a cent to 0.8 of one US cent, with 485,701 stock units changing hands.
In the preference segment, Eppley 6% preference share advanced 11 cents in closing at US$1.13 after an exchange of one stock and Equityline Mortgage Investment preference share ended at US$1.75 with the exchange of one unit.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE markets plunge Monday
Trading picked up to start the week, but falling prices pressured the market, leading to declines in the market on Monday, with the JSE Combined Index, a measure of the overall market slipping 2,400.92 points to close at 365,231.52.
The All Jamaican Composite Index dropped 3,122.55 points to 401,361.75, the JSE Main Index shed 2,003.28 points to 353,428.65, the Junior Market Index dived 58.39 points to 4,075.14 and the JSE USD market Index popped 0.34 points to close at 212.51.
Trading ended, with 17,669,717 shares changing hands, for $80.8 million, up from $38.78 million, with 10,716,616 shares traded in all markets on the previous day. The JSE USD market ended with the value of stocks traded at US$7,860 from US$19,700 on Friday.
The market’s PE ratio ended at 23.3 based on 2021-22 earnings and 12.6 times those for 2022-23 at the close of trading.
Investors need pertinent information to successfully navigate many investment options in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational investment decisions by investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and put in on fundamentals while at the same time not being too far from the majority of investors. 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 ICInsider.com PE Ratio chart covers all ordinary shares on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.
CPJ drops to 3rd on Main Market TOP10
In a week when Junior Market made a modest move higher, the Main Market closed lower, and resulted in no new entrants into the IC top 10 lists, in a week when three stocks gained 10 percent or more and one with a 6 percent increase, with no significant declines.
Price changes worth noting include, Medical Disposables with a 12 percent rise to $5.79, Paramount Trading up 10 percent to $2.04 and Caribbean Assurance Brokers rising 6 percent to close the week at $2.59 in the Junior Market and Caribbean Producers gaining 11 percent to close the week at $13.93, to move from number one spot last week to third this week and Key Insurance rising 4 percent to $3.64 in the Main Market. Caribbean Cream earnings per share were reduced to 70 cents for the year to February from 80 cents previously.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 6.2, well below the market average of 13.7. At the same time, the Junior MarketTop 10 PE sits at 5.8 versus the market at 12.5, essential indicators of the level of undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 248 percent and the Main Market TOP10 by an average of 247 percent by May 2023.
The Junior Market has 14 stocks representing a third of the market, with PEs from 15 to 36, averaging 21 compared with the above average of the market. The top half of the market has an average PE of 18. This data shows the extent of potential gains that the TOP 10 stocks possess. The situation in the Main Market is similar, with the 15 highest valued stocks priced at a PE of 16 to 78, with an average of 26 and 22 excluding the highest valued one and 18 for the top half excluding the highest valued stock.
Currently, the Junior Market reflects a positive positioning and is poised to move higher in the weeks ahead. The recent negative clouds that hang over the main markets seem to be lifting, with the market index slowly bouncing off recent lows.
ICTOP10 focuses on likely yearly winners. Accordingly, the list includes some of the best companies in the market but not always. 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 are likely to deliver the best returns up to the end of May 2023 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.
More losses recouped by JSEUSD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Friday, with the market recouping more of the big loss on Wednesday after the volume of stocks traded climbed 24 percent, valued 25 percent less than on Thursday, resulting in six securities trading, compared to nine on Thursday with four rising, one declining and one ending unchanged.
Investors exchanged 384,940 shares for US$19,700 compared to 311,092 units at US$26,259 on Thursday.
Trading averaged 64,157 units at US$3,283 versus 34,566 shares at US$2,918 on Thursday, with the month to date averaging 38,270 shares at US$2,685 versus 36,895 units at US$2,653 on the previous trading day. September ended with an average of 87,926 units for US$4,746.
The JSE US Denominated Equities Index gained 3.15 points to end at 212.17.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.9. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows no stock ended with a bid higher than the last selling price and two with lower offers.
In closing, Productive Business Solutions dropped 0.1 of a cent and ended at US$1.379, with two shares clearing the market, Proven Investments popped 0.01 of a cent to end at 20 US cents in swappingf 75,725 units, Sterling Investments remained at 1.9 US cents as investors exchanged 86,771 stocks. Sygnus Credit Investments USD share climbed 0.5 of a cent in closing at 10 US cents, with 11,066 stock units crossing the market, Sygnus Real Estate Finance USD share popped 1 cent to 11 US cents after an exchange of 1,126 stock units and Transjamaican Highway increased 0.02 of a cent to end at 0.87 of one US cent after 210,250 stocks changed hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading plunges on the JSE on Friday
The value of stocks trading on Friday fell to depressingly low levels, with less than $39 million worth of transactions for the day, but the Junior and the JSE USD markets recorded gains at the close of trading on the Jamaica Stock Exchange on Friday, but the Main Market recorded a modest decline resulting in the JSE Combined Index, a measure of the overall market slipping 389.39 points to close at 367,632.44.
The All Jamaican Composite Index fell 1,103.98 points to 404,484.30, the JSE Main Index shed 669 points to 353,428.65, the Junior Market Index rallied 25.99 points to 4,133.53 and the JSE USD market Index popped 3.15 points to close at 212.17.
Trading ended, with 10,716,616 shares changing hands, at a mere $38.78 million, down from $139.44 million, with 10,637,320 shares traded in all markets on the previous day. The JSE USD market ended with US$19,700 worth of stocks traded, down from from US$26,259 Thursday.
The market’s PE ratio ended at 23.5 based on 2021-22 earnings and 12.6 times those for 2022-23 at the close of trading.
Investors need pertinent information to navigate many investment options in the local stock market successfully. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational investment decisions by investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and put in on fundamentals while at the same time not being too far from the majority of investors. 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 ICInsider.com PE Ratio chart covers all ordinary shares on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.
Big JSE USD market recovery
The JSE US Denominated Equities Index jumped 16.73 points to end at 209.02 in trading on the Jamaica Stock Exchange US dollar market on Thursday, following a 20 per cent decline in the volume of stocks exchanged, valued 25 percent more than on Wednesday, resulting in nine securities traded, compared to six on Wednesday with four rising, three declining and two ended unchanged.
Overall, 311,092 shares were traded for US$26,259 compared to 391,069 units at US$21,025 on Wednesday.
Trading averaged 34,566 units at US$2,918 versus 65,178 shares at US$3,504 on Wednesday, with a month to date average of 36,895 shares at US$2,653 versus 37,097 units at US$2,630 on the previous day. September ended with an average of 87,926 units for US$4,746.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.8. The PE ratio incorporates ICInsider.com earnings forecasts for companies with financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows no stock ended with a bid higher than the last selling price and none with a lower offer.
At the close, First Rock Real Estate USD share fell 0.1 of a cent in closing at 7.9 US cents as investors exchanged 45,362 shares, MPC Caribbean Clean Energy popped 14 cents to US$1 after 1,000 units passed through the market, Productive Business Solutions increased 28 cents to end at US$1.38, with three stocks crossing the market. Proven Investments rallied 0.99 of one cent to close at 19.99 US cents in trading 13,486 stock units, Sterling Investments remained at 1.9 US cents after trading 17,710 stocks, Sygnus Credit Investments USD share rose 0.5 of one cent to 9.5 US cents after 2,289 shares changed hands and Transjamaican Highway declined 0.04 of a cent in closing at 0.85 of one US cent in exchange of 219,942 units.
In the preference segment, Eppley 6% preference share shed 11 cents to close at US$1.02 after exchanging 500 stock units and JMMB Group 5.75% ended at US$1.50 in trading 10,800 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.