Trading on the Jamaica Stock Exchange US dollar market ended on Tuesday, with the volume of stocks exchanged declining 60 percent after 10 percent fewer dollars changed hands than on Monday, resulting in trading in eight securities, compared to seven on Monday with prices of three rising, three declining and two ending unchanged.
The market closed with an exchange of 180,495 shares for US$53,094 from 452,800 units at US$59,221 on Monday.
Trading averaged 22,562 units at US$6,637 versus 64,686 shares at US$8,460 on Monday, with a month to date average of 52,795 shares at US$6,559 compared to 57,731 units at US$6,546 on the previous day and January with an average of 42,169 units for US$5,037.
The US Denominated Equities Index popped 1.76 points to end at 255.60.
The PE Ratio, a measure used in computing appropriate stock values, averages 10.7. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending and or around August 2024.
Investor’s Choice bid-offer indicator shows three 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 climbed 0.62 of one cent to end at 4.7 US cents after an exchange of 1,080 shares, Proven Investments rose 0.01 of a cent to 13.5 US cents with a transfer of 47,510 units, Sterling Investments fell 0.24 of a cent and ended at 1.61 US cents as investors exchanged 3,066 shares. 
Sygnus Credit Investments ended at 8.9 US cents, with 61,406 stock units changing hands, Sygnus Real Estate Finance USD share dipped 0.3 of a cent to close at 6.7 US cents with an exchange of 4,935 shares and Transjamaican Highway remained at 2 US cents with traders dealing in 25,000 stock units.
In the preference segment, JMMB Group US8.5% preference share gained 0.17 of a cent and ended at US$1.05 while exchanging 37,408 units and Productive Business Solutions 9.25% preference share sank 42 cents in closing at US$11.06 with investors transferring 90 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading declined on JSE USD Market
Trading plunges on Junior Market
Trading dropped sharply on the Junior Market of the Jamaica Stock Exchange Tuesday, with a decline of 71 percent in the volume of stocks traded, following a 65 percent fall in value compared with Monday’s trading, resulting in 45 securities changing hands compared with 42 on Monday and ending with prices of 10 stocks rising, 26 declining and nine closing unchanged.
The market closed with an exchange of 3,460,585 shares for $8,913,356 down from 11,955,696 units at $25,250,753 on Monday.
Trading averaged 76,902 shares for $198,075 compared to 284,659 units at $601,208 on Monday with the month to date, averaging 216,711 stock units at $518,289 compared to 235,325 stock units at $560,921 on the previous day and January with an average of 175,081 units at $401,738.
Tropical Battery led trading with 847,958 shares for 24.5 percent of total volume followed by One Great Studio with 346,363 units for 10 percent of the day’s trade and Indies Pharma with 292,036 units for 8.4 percent market share.
At the close of trading, the Junior Market Index sank 19.52 points to wrap-up trading at 3,813.84.
The Junior Market ended trading with an average PE Ratio of 13.4, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Access Financial dropped $1.24 to close at $21.41 with investors dealing in a mere 76 stock units, AMG Packaging shed 24 cents to close at $2.71 in an exchange of 1,265 shares, CAC 2000 declined 68 cents to end at $3.83 with traders dealing in 526 units. Caribbean Flavours lost 10 cents in closing at $1.60, with 2,000 stocks crossing the market, Consolidated Bakeries increased 11 cents and ended at $2.21 with investors trading 2,000 shares, Dolphin Cove skidded 32 cents to $18 and closed with an exchange of 7,149 units. Elite Diagnostic sank 12 cents in closing at $1.69 after a transfer of 19,333 stocks, Everything Fresh dipped 18 cents and ended at $1.52 in trading 13,655 stock units, Fontana climbed 28 cents to close at $10.60 after 52,304 shares passed through the market. Honey Bun rose 19 cents to end at $6.69 with investors transferring 768 stocks, Indies Pharma fell 8 cents in closing at $2.60 in an exchange of 292,036 units, ISP Finance dropped $6.33 to $25.02 with 16 stock units clearing the market. Jamaican Teas rallied 9 cents and ended at $2.58 with a transfer of 111,114 shares, 
Lasco Distributors fell 22 cents to close at $3.76 after an exchange of 86,350 stock units, Lasco Manufacturing popped 14 cents to end at $5 after trading 166,322 stocks. Limners and Bards gained 10 cents in closing at $1.65 with an exchange of 6,102 units, Lumber Depot fell 18 cents to $2.32, with 110,547 shares crossing the market, Mailpac Group advanced 9 cents to end at $2.19 with investors exchanging 86,500 stock units, ahead of the company announcing the acquisition of MyCart Express, a Jamaican based courier service company. Main Event dipped 13 cents to close at $14.79 in switching ownership of 248 stocks, Medical Disposables sank 20 cents and ended at $2.52, with 262 stock units crossing the exchange, Spur Tree Spices shed 8 cents to $2.32 with investors swapping 200,107 shares and Tropical Battery declined 15 cents in closing at $2.55 after exchanging 847,958 units after the company reported a solid 45 percent growth in their first quarter profit.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The JSE Main & Junior markets fall
The Main and the Junior Market of the Jamaica Stock Exchange lost ground in trading on Tuesday as the JSE USD market inched moderately higher as trading ended with the volume and the value of stocks changing hands falling, compared with the previous day and resulted in the prices of 30 stocks rising and 42 declining.
At the close of trading, the Combined Market Index shed 524.55 points to close at 347,021.46, the All Jamaican Composite Index advanced by 93.57 points to 370,839.06, the JSE Main Index sank 377.08 points to close at 334,406.36. The Junior Market Index fell 19.52 to 3,813.32. The JSE Main & Junior markets rose 0.21 points to 255.60.
At the close of trading, 16,492,495 shares were exchanged in all three markets, down from 47,975,821 units on Friday, with the value of stocks traded on the Junior and Main markets amounted to $62.80 million, from $164.28 million yesterday and the JSE USD market closed with an exchange of 180,495 shares for US$53,094 compared to 452,800 units at US$59,221 on Monday.
Trading in the Main Market was dominated by Wigton Windfarm with a leading trade of 4 million shares followed by JMMB 9.5% preference share with 3.94 million units and Transjamaican Highway with 1.83 million stocks.
In the Junior Market, Tropical Battery led trading with 847,958 shares followed by One Great Studio with 346,363 units and Indies Pharma with 292,036 shares.
At the close of trading on the Main Market, Barita Investments dipped $1.02 to $70.18, Caribbean Cement climbed $1.99 in closing at $55.99, Eppley popped $1.99 to $35.99, Guardian Holdings rose $8 to $368, Pan Jamaica increased $1.08 to end at $51.20, Seprod rallied $1 to $83 and Supreme Ventures increased $1.97 and ended at $26.50.
The major declining Main Market stocks are Eppley Caribbean Property Fund that fell $2.50 to close at $37.50, JMMB Group shedding $1.39 in closing at $24.05 and Kingston Wharves dropping $2.40 and ending at $28.10.
At the end of Junior Market trading, Fontana climbed 28 cents to close at $10.60, with the major losing stocks being Access Financial down $1.24 to close at $21.41, AMG Packaging shedding 24 cents to $2.71, CAC 2000 declining 68 cents to end at $3.83, Dolphin Cove skidding 32 cents to $18 as ISP Finance dropped $6.33 to $25.02.
In the preference segment, Jamaica Public Service 7% sank $5.80 to end at $43 and Productive Business Solutions 10.5 % preference share declined $16 to $1,284.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 21.3 on 2022-23 earnings and 14.2. times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the 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 between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
Investors need pertinent information to navigate numerous investment options successfully in the 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 decisions when 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 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 reported as a guide for investors 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 paid or payable and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume pertaining to the highest bid and the lowest offer for each company.
Flat profit at Wisynco Group
Wisynco Group reported flat profits of $1.2 billion, in the December quarter, from revenues that grew 9.3 percent to $13.25 billion from $12.1 billion in 2022, while revenues rose by 12 percent from $24 billion for the half year to December 2022 to $27 billion in the six months to December 2023, with profits rising nearly 11 percent to $2.77 billion from $2.5 billion in 2022.
Other operating and finance income made a solid contribution to profits with the December quarter reporting $228 million up from $144 million in 2022 and for the half year to December $452 million from $287 million in 2022.
Gross profit margin fell in the second quarter to 33.3 percent, down from 34.7 percent for the same quarter last year, with a Gross Profit of $4.4 billion, 4.7 percent greater than the $4.2 billion of the prior year’s second quarter. According to the company’s management, “this key performance indicator was also adversely affected by the production constraints in November and December 2023 which effectively caused a lower absorption of our fixed costs and limited our product mix for optimal shopper takeup.” The half year performance saw a Gross profit of $9.2 billion up 8 percent from $8.5 billion and the gross profit margin slipped to 34.2 percent versus 35.5 percent in 2022.
Selling and distribution expenses for the quarter amounted to $2.6 billion or 13 percent more than the $2.3 billion for the corresponding quarter of the prior year and rose per cent to $5 billion for the half year from $4.4 billion in 2022.
Wata one of Wisynco best known brands
Administrative expenses climbed 14 percent in the second quarter and for the year to date to $502 million for the second quarter from $439 million in 2022 and $1 billion for the half year from $894 million in 2022. Finance costs fell to $17 million in the second quarter from $99 million in 2022 and for the half year, it declined from $249 million to just $21 million.
For the year to December, earnings per share attributable to stockholders of the group was 32 cents for the quarter and 74 cents for the half year, up from 67 cents in 2020. ICInsider.com’s projection is for earnings of $1.80 per share in 2024, with the stock now trading at $22 with a PE of 12.
Since December 2022 the group added $3 billion to fixed assets and now has loans of $3.6 billion, with cash and investments standing at $11.5 billion and shareholders’ equity of $24 billion.
The Company declared a dividend of 23 cents per share payable to shareholders on March 7.
JSE Main market declines
Trading on the Jamaica Stock Exchange Main Market ended on Monday, with the volume of stocks traded jumping 135 percent and the value 64 percent more than on Friday, with trading in 58 securities compared with 53 on Friday, with prices of 23 stocks rising, 19 declining and 16 ending unchanged.
The market closed with 35,567,325 shares trading for $139,024,409 up from 15,118,549 units at $85,008,912 on Friday.
Trading averaged 613,230 shares at $2,396,973 compared with 285,256 units at $1,603,942 on Friday and month to date, an average of 259,799 units at $1,171,340, in comparison with 207,372 units at $989,533 on the previous day and January closing with an average of 265,804 units at $2,438,118.
QWI Investments led trading with 13.42 million shares for 37.7 percent of total volume, following one major seller and two main buyers, followed by Wigton Windfarm with 8.98 million units for 25.3 percent of the day’s trade, Transjamaican Highway ended with 5.22 million stock units for 14.7 percent market share, Mayberry Group finished trading with 1.31 million units for 3.7 percent of the overall volume, Carreras chipped in with 1.26 million stocks for 3.5 percent stocks traded and Sagicor Select Financial Fund with 1.04 million units for 2.9 percent of total volume.
The All Jamaican Composite Index dropped 775.69 points to end at 370,745.49, the JSE Main Index shed 467.96 points to close trading at 334,783.44 and the JSE Financial Index shed 0.22 points to end at 71.80.
The Main Market ended trading with an average PE Ratio of 13.7. 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 2024.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Barita Investments gained 93 cents to end at $71.20 in trading 144,505 units, Berger Paints climbed 46 cents and ended at $6.23 with 100 stocks clearing the market, Caribbean Cement rose 49 cents in closing at $54 with investors dealing in 5,877 shares. Eppley declined $4.50 to end at $34 with a transfer of 447 stock units, Guardian Holdings shed $8 to close at $360 with investors swapping 539 shares, Jamaica Broilers advanced 50 cents to $34.50 in an exchange of 24,238 stocks. Jamaica Producers dropped $1.45 in closing at $23.55, with 274,748 units crossing the market,
JMMB Group fell 94 cents to $25.44 as investors traded 535,797 stock units, Kingston Wharves popped $2.50 to end at $30.50 after 38,792 shares were traded. Massy Holdings gained $1 and ended at $100 with investors transferring 594 units, NCB Financial rallied 60 cents to $68.50 after exchanging 43,508 stocks, Sagicor Group skidded 49 cents and ended at $43.50, with 54,195 stock units crossing the market. Salada Foods rose 35 cents to close at $3.45 with traders dealing in 285 shares, Scotia Group lost $1 to end at $44.50 and closed after an exchange of 208,902 units, Supreme Ventures dipped $1.17 to close at $24.53 with investors trading 326,625 stocks, Sygnus Credit Investments climbed 42 cents to $10.94 in an exchange of 855 stock units and Victoria Mutual Investments sank 52 cents to end at $2.68 changing hands 196,536 shares.
In the preference segment, Eppley 7.25% preference share increased 90 cents in closing at $18.90 after an exchange of 500 stocks. 
Jamaica Public Service 7% popped $1.80 and ended at $48.80 as 225 units passed through the market and Productive Business Solutions 10.5 % preference share advanced $210 to close at $1,300 with 10 stock units crossing the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Slippage for JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Monday, with the volume of stocks changing hands jumping 528 percent after a 1,990 percent surge in the amount of US dollars that changed hands compared to Friday, resulting in trading in seven securities, compared to five on Friday and ended with no price gains, after four stocks declined and three ended unchanged.
The market closed with trading of 452,800 shares for US$59,221 up from 72,092 units at just US$2,833 on Friday.
Trading averaged 64,686 units at US$8,460 versus 14,418 shares at US$567 on Friday, with a month to date average of 57,731 shares at US$6,546 compared with 56,572 units at US$6,228 on the previous trading day and January that ended with an average of 42,169 units for US$5,037.
The US Denominated Equities Index lost 0.80 points to wrap up trading at 255.39.
The PE Ratio, a measure used in computing appropriate stock values, averages 10.7. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending and or around August 2024.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, Proven Investments ended at 13.49 US cents with investors dealing in 2,184 stocks, Sterling Investments dipped 0.15 of a cent to 1.85 US cents in an exchange of 5,366 units, 
Sygnus Credit Investments remained at 8.9 US cents, with 1,050 shares crossing the market and Transjamaican Highway fell 0.05 of a cent to close at 2 US cents with traders dealing in 403,502 stock units.
In the preference segment, JMMB Group US8.5% preference share sank 10.17 cents and ended at US$1.0483, with 39,898 shares crossing the exchange, Sygnus Credit Investments US 8% ended at US$10.50 with investors swapping 100 stock units and Sygnus Credit Investments E8.5% dipped 75 cents in closing at US$11 after an exchange of 700 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market slips on Monday
Trading closed on the Junior Market of the Jamaica Stock Exchange Monday, with a 25 percent decline in the volume of stocks traded, with a 30 percent lower value than Friday and ended with trading in 42 securities compared with 40 on Friday and ending with prices of 14 rising, 15 declining and 13 closing unchanged.
The market ended trading on Monday as 11,955,696 shares changed hands at $25,250,753 down from 15,974,371 units at $35,900,988 on Friday.
Trading averaged 284,659 shares at $601,208 compared to 399,359 units at $897,525 on Friday with trading month to date, averaging 235,325 units at $560,921 up from 228,325 stock units at $555,204 that was previously traded and January with an average of 175,081 units at $401,738.
Derrimon Trading led trading with 5.46 million shares, Mailpac Group with 1.44 million units and One Great Studio with 1.10 million stock units for 9.2 percent of the day’s trade.
At the close of trading, the Junior Market Index dropped 14.17 points to lock up trading at 3,833.36.
The Junior Market ended trading with an average PE Ratio of 13.6, based on last traded prices in conjunction with earnings projected by ICInsider.com for their financial years ending around August 2024.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Cargo Handlers rose 9 cents in closing at $14.59 after 3,000 units passed through the market, Consolidated Bakeries sank 11 cents to $2.10 with investors dealing in 304 stocks, Dolla Financial fell 10 cents to end at $2.90 t with 175,289 shares clearing the market. Dolphin Cove fell 66 cents and ended at $18.32 after an exchange of 3,094 stock units, Elite Diagnostic rallied 17 cents to close at $1.81 with 541,872 shares crossing the market, Fontana shed 18 cents to $10.32 with investors transferring 123,834 stocks. Indies Pharma lost 11 cents in closing at $2.68 in switching ownership of 42,921 units, 
Knutsford Express gained $1 and ended at $12.38 after an exchange of 960 stock units, Lasco Distributors popped 8 cents to end at $3.98 in an exchange of 27,000 shares. Limners and Bards skidded 14 cents to close at $1.55, with investors trading 29,784 stocks, Main Event dropped 8 cents to $14.92 with a transfer of 5,780 units, MFS Capital Partners dipped 9 cents and ended at $2.20 with 18,441 stock units changing hands. Spur Tree Spices advanced 15 cents to close at $2.40 with investors trading 101,446 shares and Tropical Battery climbed 30 cents to end at $2.70 after a transfer of 378,410 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Two Lasco companies head to JSE Main Market
Lasco Distributors and Lasco Manufacturing will be graduating to the main market of the Jamaica Stock Exchange, effective Wednesday, March 27, 2024.
The companies state in their report to investors and posted on the Jamaica Stock Exchange stated that the exchange approved to graduate to the Main Market.
The Lasco companies were some of the early listings on the Junior Market in 2010, with a listing on October 12, 2010.
In the first year of listing on the Junior Market, Lasco Manufacturing generated revenues of $2.97 billion and a profit of $401 million after tax and reported for the nine months to December last year, revenues of $9.24 billion and profit of $1.7 billion, with Shareholders’ equity climbing to $12.3 billion from $830 million at the end of March 2011.
Lasco Distributors reported revenues of $6.76 billion and a profit of $306 million after tax for the year to March 2011 and generated revenues of $21.86 billion for the nine months to December last year and profit of $1.2 billion, with Shareholders’ equity climbing to $9.25 billion from $727 million at the end of September 2010.
Values slip on the Jamaica Stock Exchange
Trading closed on the Jamaica Stock Exchange on Monday, with slippage in values in all markets and ended with QWI Investments leading trading with nearly 38 percent of the volume traded that exceeded trading on Friday in the overall market with the jumping sharply over trading on Friday, resulting in prices of 31 shares rising and 32 declining.
At the close of trading on Monday, the JSE Combined Market Index dipped 563.01 points to close at 347,546.01, the All Jamaican Composite Index dropped 775.69 points to cease trading at 370,745.49, the JSE Main Index shed 467.96 points to culminate at 334,783.44. The Junior Market Index fell 14.17 points to conclude trading at 3,833.36 and the JSE USD Market Index skidded 0.80 points to 255.39.
At the close of trading, 47,975,821 shares were exchanged in all three markets, up from 31,165,012 units on Friday, with the value of stocks traded on the Junior and Main markets amounted to $164.28 million, up from $120.9 million yesterday and the JSE USD market closed with an exchange of 452,800 shares for US$59,221 compared to 72,092 units at US$2,833 on Friday.
Trading in the Main Market was dominated by QWI Investments led trading with 13.42 million shares followed by Wigton Windfarm with 8.98 million units for 25.3 percent of the day’s trade, Transjamaican Highway with 5.22 million units, Mayberry Group with 1.31 million stock units, Carreras with 1.26 million shares and Sagicor Select Financial Fund with 1.04 million units.
In the Junior Market, Derrimon Trading led trading with 5.46 million shares, Mailpac Group with 1.44 million units and One Great Studio with 1.10 million stocks.
At the close of trading on the Main Market, Barita Investments increased by 93 cents to $71.20, Kingston Wharves popped $2.50 to end at $30.50, Massy Holdings gained $1 and ended at $100
In the Main Market, Eppley declined $4.50 to end at $34, Guardian Holdings shed $8 to close at $360, Jamaica Producers dropped $1.45 in closing at $23.55, JMMB Group fell 94 cents to close at $25.44, Scotia Group lost $1 to end at $44.50, Supreme Ventures dipped $1.17 in closing at $24.53.
At the end of Junior Market trading, Knutsford Express increased $1 and ended at $12.38 and Tropical Battery climbed 30 cents to end at $2.70 but Dolphin Cove was down 66 cents to $18.32.
In the preference segment, Eppley 7.25% preference share increased 90 cents in closing at $18.90, Jamaica Public Service 7% popped $1.80 and ended at $48.80 and Productive Business Solutions 10.5% preference share advanced $210 to close at $1,300.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 21.5 on 2022-23 earnings and 14.2 times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the 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 between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
Investors need pertinent information to navigate numerous investment options successfully in the 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 decisions when 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 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 reported as a guide for investors 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 paid or payable and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume pertaining to the highest bid and the lowest offer for each company.
ICTOP10 reaping from bullish market
The start of a bull market is appearing with the Jamaica Stock Exchange moving higher, partially helped by rising profits of some companies, as a result, the USD market is solidly in the black for 2024 to date, with a rise of 11 percent while the Main Market sits with a gain of 2.9 percent and the Junior Market is now back at the 2023 end of year level on Friday, but just below. At the same time two listings reported nine months results reflecting improving profit that should help the stock prices in the weeks ahead.
During the week new results were released to the market, with mostly positive profit outcomes that should aid the prices of stocks going forward as the results help to lay a foundation for prices in the short term as this provides investors with a better sense of valuations of these companies. There will be more releases this week as the deadline date for their release is this week for companies that have not opted for 60 days publication of audited accounts.
Earnings were revised downwards by a few cents for Lasco Distributors and Lasco Manufacturing, following the release of nine months results, that show continued growth in profits.
Last week IC Insider.com reported Scotia Group and TransJamaican Highway that traded at 52 weeks’ high they now seem to have topped out for a while, with both undervalued with quite some room to run for 2024. Scotia has an undisclosed amount on offer at $46.
The past week ended with minimal price changes for Junior Market stocks but the Main Market threw up a few, with General Accident rising 12 percent to close at $5.30, followed by JMMB Group up 10 percent to $26.38 and Caribbean Producers up 4 percent to $9.09 as Margaritaville dropped 15 percent to $14.86 and Palace Amusement lost 8 percent to close at $1.20.
As was the case for the previous week the markets closed with no addition to the ICInsider.com TOP 10 stocks.
For the full list of weekly percentage changes for the ICTOP10 stocks, check the attached charts that now carry a column of the weekly percentage price movements.
The average PE for the JSE Main Market ICTOP 10 stands at 5.3, well below the market average of 13.7 and the Junior Market TOP10 sits at 7.,5 just over half of the market, with an average of 13.6
The Main Market ICTOP10 is projected to gain an average of 287 percent by May 2024, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 169 percent over the same time frame.
In the Main Market ICTOP 10, a total of 15 of the most highly valued stocks representing 31 percent of the Main Market are priced at a PE of 15 to 108, with an average of 30 and 21 excluding the highest PE ratios, and a PE of 25 for the top half and 18 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 13 stocks, or 27 percent of the market, with PEs ranging from 15 to 45, averaging 22, well above the market’s average. The top half of the market has an average PE of 18, possibly the lowest fair value for stocks, currently.
Of great import is that the averages of both markets are now converging around a PE of 20 for close to a third of the market, as the year is coming to a close and with more information available on the full year’s earnings.
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 2024 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 and result 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.
