Rising stocks pushed the Main and Junior markets much higher at the close of the Jamaica Stock Exchange trading on Friday as the Market JSE USD market closed marginally lower as trading ended with the number of stocks changing hands falling, with the value of stocks traded jumping sharply over the previous trading day, resulting in prices of 38 shares rising and 26 declining.
At the close of the market, the JSE Combined Market Index shot up 1,432.71 points to 327,489.18, the All Jamaican Composite Index rallied 1,682.41 points to 356,592.46, the JSE Main Index popped 1,044.59 points to 314,466.93. The Junior Market Index advanced a solid 61.06 points to end at 3,733.95 and the JSE USD Market Index dipped 0.70 points to close trading at 224.17.
At the close of trading, the volume of stocks traded jumped sharply to 28,434,606 shares in all three markets, well on the 19,944,044 units on Thursday, with the value of stocks traded on the Junior and Main markets amounted to $98.49 million, compared with $84.8 million on the previous trading day and the JSE USD market closed with an exchange of 47,268 shares for US$3,703 compared to 200,309 units at US$13,942 on Thursday.
In Main Market activity, Sagicor Select Financial Fund led trading with 5.81 million shares followed by Transjamaican Highway with 3.82 million stocks and Wisynco Group with 1.01 million units.
In Junior Market trading, Jamaican Teas led trading with 4.20 million shares followed by Derrimon Trading with 3.87 million units and EduFocal with 1.42 million stock units.
In the preference segment, 138 Student Living preference share climbed $27.15 in closing at $155.25 and Sygnus Credit Investments C10.5% increased $7.98 to $107.98.
The market’s PE ratio, the most popular measure used to value stocks, ended at 20 on 2023-24 earnings and 13.7 times those for 2024-25 at the close of trading. ICInsider.com PE ratio chart and more detailed daily charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons within a sector and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
Pertinent information is required to navigate numerous investment options successfully in the stock market. The ICInsider.com PE ratio chart and more detailed daily charts provide investors with regularly updated information to help decision-making.
The chart should be used in making rational decisions when investing in stocks close to the average for the sector, not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and place them 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 net asset value of each company is incorporated into the chart. Investors can use this measure in assessing stock values. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends that are paid or are due to be paid and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume of the highest bid and the lowest offer for each company.
Trading broadens on the JSE USD Market
Trading climbed on the Jamaica Stock Exchange US dollar market on Thursday, with a 696 percent jump in the volume of stocks exchanged along with a 565 percent climb in value trading on Wednesday, resulting from trading in nine securities, compared to six on Wednesday with prices of four rising, three declining and two ending unchanged.
The market closed with an exchange of 200,309 shares for US$13,942 well above the 25,171 units that traded at US$2,096 on Wednesday.
Trading averaged 22,257 stock units at US$1,549 versus 4,195 shares at US$349 on Wednesday, with a month to date average of 34,001 shares at US$2,482 compared with 35,114 units at US$2,571 on the previous day and June that ended with an average of 53,325 units for US$3,682.
The US Denominated Equities Index dipped 3.15 points to conclude trading at 224.87.
The PE Ratio, a most used measure for computing stock values, averages 8.1. The PE ratio is calculated based on last traded prices divided by ICInsider.com’s projected earnings for companies with financial year ending and or around August 2025.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last prices and one with a lower offer.
At the close of trading, AS Bryden ended at 22.49 US cents with investors trading 2,448 units, First Rock Real Estate USD share rallied 0.44 of one cent to 4.47 US cents and closed with an exchange of 7,469 stocks, MPC Caribbean Clean Energy popped 1 cent to finish at 70 US cents as investors exchanged a mere one share. Proven Investments lost 0.9 of one cent and ended at a 52 weeks’ low of 11 US cents after the trading of 84,198 stock units, Sterling Investments advanced 0.34 of a cent in closing at 1.83 US cents in an exchange of 322 shares, Sygnus Credit Investments remained at 7 US cents with investors trading 10,199 units and Transjamaican Highway declined 0.08 of a cent to 2 US cents with an exchange of 95,546 stocks.
In the preference segment, JMMB Group US8.5% preference share shed 14.99 cents to close at US$1.0501, with 30 stock units crossing the market and Sygnus Credit Investments E8.5% rose by 60 cents in closing at US$11 after an exchange of 96 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading plunges for JSE USD Market
Trading plunged on the Jamaica Stock Exchange US dollar market on Wednesday, with a 95 percent in the volume and value of stocks passing through compared with Tuesday, resulting from trading in six securities, compared to eight on Tuesday with prices of three stocks rising, two declining and one ending unchanged.
The market closed with an exchange of 25,171 shares for US$2,096 compared to 484,869 units at US$42,958 on Tuesday.
Trading averaged 4,195 stock units at US$349 down sharply from 60,609 shares at US$5,370 on Tuesday, with a month to date average of 35,114 shares at US$2,571 compared with 37,198 units at US$2,721 on the previous day and June that ended with an average of 53,325 units for US$3,682.
The US Denominated Equities Index gained 1.67 points to end at 228.02.
The PE Ratio, a most used measure for computing appropriate stock values, averages 7.9. The PE ratio is computed based on last traded prices divided by projected earnings done by ICInsider.com for companies with financial year ending and or around August 2025.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, First Rock Real Estate USD share ended at 4.03 US cents after investors traded 182 stocks, Proven Investments popped 0.1 of a cent to end at 11.9 US cents in trading 1,171 shares, Sygnus Credit Investments shed 0.49 of one cent in closing at 7 US cents after a transfer of 21,798 units and Transjamaican Highway increased 0.08 of a cent to finish at 2.08 US cents with investors trading 1,759 stocks.
In the preference segment, JMMB Group US8.5% preference share fell 4.99 cents and ended at US$1.20 with 6 units crossing the market and Equityline Mortgage Investment preference share popped 16.5 cents to close at US$1.265 as investors exchanged 255 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Blow out profit for Iron Rock
Insurance revenues jumped 40 percent to $1.4 billion and net profit surged 150 percent to $84 million at Iron Rock Insurance for 2023 as insurance results climbed from $63 million to $120 and Investments delivered slightly higher gains of $79 million rising from $64 million in 2022, the company’s long-delayed audited financial statements show.
Operating expenses rose 14.4 percent from $104 million to $119 million as the company generated 39 cents in earnings per share for the year, up from 16 cents in 2022. ICInsider.com had a forecast of 32 cents.
At the end of 2023, shareholders’ equity stood at $748 million. Investments was $630 million, with reinsurance assets of $427 million and Insurance liabilities of $777 million.
The company improved its performance in the March quarter this year, with revenues rising by 29 percent to $401 million. Return on investments rose to $29 from $16 million in 2023. Other operating expenses climbed from $30 million to $37 million. A profit of $5.5 was realised, up from a $12 million loss in 2023, with earnings per share of 3 cents.
At the end of 2023, shareholders’ equity rose to $756 million. Investments stood at $719 million, with reinsurance assets of $312 million and Insurance liabilities of $735 million.
Iron Rock generated positive cash flows of $45 million in the quarter and $254 million for the 2023 fiscal year.
The stock was in the ICTOP10 Junior Market listing but was dropped following the suspension of trading but with projections of 55 cents per share for 2024 it will most likely be back, subject to stock price by week end.
The stock rose 12 cents on Tuesday to $2.30, with just three offers amounting to 115,000 shares, with 7,004 units at $3.30 up to $4.36.
With projected earnings of 55 cents per share, the PE ratio at the last price is just 4.2 times earnings, well below the market average of 12.4.