Junior Market advances on Thursday

June 3, 2021 by

The volume of stocks trading spiked 31 percent, with a 16 percent greater value on Thursday than market activity produced on Wednesday, leading the Junior Market Index to close with an 11.73 points rally to settle at 3,349.20. Market activity led to 36 securities trading compared to 38 on Wednesday, with 14 rising, 13 declining and nine ending unchanged.
At the close, the PE Ratio, a measure that determines an appropriate relative value of each stock, averages 12.4 based on ICInsider.com’s 2021-22 earnings forecast.
Overall, 5,243,544 shares traded at $21,893,161 versus 7,559,997 units at $18,853,382 on Wednesday.
Fosrich led trading with 23.4 percent of total volume after 1.23 million shares traded, followed by Lumber Depot 18.6 percent with 974,222 units and Mailpac Group with 10 percent after an exchange of 524,832 units.
Trading averaged 145,654 unit  at $608,143 versus 198,947 at $496,142 on Wednesday. for the month to date trading averages 146,884 units at $481,673, versus 147,466 units at $421,766 on Wednesday. May closed with an average of 318,089 units at $760,337.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Blue Power spiked 18 cents to $4.10 with an exchange of 164,855 shares, Cargo Handlers advanced 10 cents to $8.69, with 1,400 stocks changing, Caribbean Assurance Brokers slipped 5 cents to $1.96 with a transfer of 7,071 units. Caribbean Cream fell 10 cents to $5.60 with 22,132 stock units passing through the market, Derrimon Trading popped 7 cents to $2.53 with ownership of 357,692 shares changing, Dolphin Cove hammered a loss of 70 cents to close at $6.80 with an exchange of 50,283 stocks. Fosrich dropped 60 cents to $7.70, with 1,225,655 units changing hands, ISP Finance spiked $1.04 to $25.04 with a transfer of 5,000 stock units, Jamaican Teas fell 11 cents to $3.90 with 469,637 shares passing through the market. Jetcon Corporation rose 6 cents to $1.10 with ownership of 200,096 stocks changing, Knutsford Express jumped $1.43 to end at $8.45 with an exchange of 18,430 units, Lasco Financial popped 8 cents to $3.95, with 19,743 stock units traded. Lasco Manufacturing rallied 13 cents to $5.64 with 47,797 shares changing hands, Limners and Bards dropped 15 cents to $2.90 with a transfer of 4,498 units, Lumber Depot fell 18 cents to $3.26 with ownership of 974,222 stocks changing.  Medical Disposables slipped 5 cents to $4.95 with 1,565 stock units changing hands and Stationery and Office Supplies spiked 67 cents to $8.31 with 66,386 shares crossing the exchange.

 Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Gains for Junior Market – Wednesday

June 2, 2021 by

Trading closed on Wednesday, with rising prices dominating declining stocks, after an exchange of 107 percent more stocks valued 43 percent greater than on Tuesday on the Jamaica Stock Exchange Junior Market, and leading to a rise in the market index of 15.46 points to close at 3,337.47.
A total of 38 securities traded, similar to Tuesday, with 16 rising, 13 declining and nine closing unchanged.
The PE Ratio averaged 12.2 based on ICInsider.com’s earnings forecast for 2021-22.
Trading amassed 7,559,997 shares at $18,853,382 up from 3,647,436 units at $13,200,802 on Tuesday.
Future Energy Source led trading with 39.1 percent of total volume for 2.96 million shares, followed by Iron Rock Insurance 10.8 percent, with 814,000 units and AMG Packaging with 6.1 percent with an exchange of 458,866 units.
Trading averaged 198,947 units at $496,142 in contrast to 95,985 at $347,390 on Tuesday. The month to date averaged 147,466 units at $421,766, May closed with an average of 318,089 units at $760,337.
Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Access Financial climbed 40 cents to close at $22.40 after trading  5,000 shares, Cargo Handlers fell 10 cents to $8.59 with 3,459 stocks changing hands, Caribbean Assurance Brokers rose 11 cents to end at $2.01 with an exchange of 144,338 units. Caribbean Cream advanced 10 cents to finish at $5.70 with 8,918 stock units passing through the market, Caribbean Flavours gained 5 cents to close at $2.10 with a transfer of 244,330 shares, Caribbean Producers increased 10 cents to $3.95 with investors switching ownership of 41,335 stocks. Dolphin Cove dropped 50 cents to end at $7.50 with 860 units traded, Express Catering climbed 39 cents to $5.09 with 2,250 stock units changing hands, Fontana advanced 20 cents to $6.15, with an exchange of 349,930 shares. Fosrich fell 20 cents to $8.30 with 70,408 stocks passing through the market, Honey Bun climbed 25 cents to close at a 52 weeks’ high of $7 with a transfer of 161,537 units, Indies Pharma rose 9 cents to $3.99 with investors switching ownership of 8,058 stock units. Lasco Distributors fell 14 cents to end at $4 with 10,382 shares traded, Lasco Financial lost 12 cents to finish at $3.87 with 236,100 units changing hands, after trading at an intraday 52 weeks high of $4.20. Lasco Manufacturing slipped 9 cents to $5.51, with a transfer of 45,005 stocks, Medical Disposables fell 5 cents to $5 with investors switching ownership of 1,000 stock units and Stationery and Office Supplies shed 51 cents to close at $7.64 with the 500 shares crossing the exchange.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Junior Market slips up in June

June 1, 2021 by

The overall measure of market value of trading stocks swung between extremes on Tuesday, on the Junior Market of the Jamaica Stock Exchange, with the market index hitting a high for the day at 3,380.29 shortly after the opening but fell just over 73 points to hit a low for the day at 3,307.03 before recovering a fraction of the dip to close with a lost 2.72 points from Monday’s close to settle at 3,322.01.
Overall, 38 securities traded compared to 39 on Monday and ended, with 13 rising, 17 declining and eight closing unchanged.
The PE Ratio based on ICInsider.com’s 2021-22 earnings forecast averages 12.6.
The volume of stocks traded declined 74 percent, with 55 percent less value than on Monday. Overall, 3,647,436 shares traded for $13,200,802, down from 13,810,331 units at $29,320,428 on Monday.
Lasco Manufacturing controlled 15.9 percent of total volume, with 580,585 shares, followed by Future Energy Source, 11.1 percent with 406,589 units and Lumber Depot with 8.1 percent after exchanging 295,410 units.
Trading averaged 95,985 units at $347,390 in contrast to 354,111 at $751,806 on Monday. May closed with an average of 318,089  units at $760,337.
Investor’s Choice bid-offer indicator shows five stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, CAC 2000 rose 22 cents to $9.45 with 7,751 shares changing hands, Caribbean Assurance Brokers lost 7 cents to close at $1.90 with an exchange of 50,477 stock units, Caribbean Cream dropped 30 cents to $5.60 with 31,693 units passing through the market. Caribbean Flavours slipped 5 cents to $2.05, with 159,884 stocks traded, Caribbean Producers rose 5 cents to $3.85 with a transfer of 184,374 shares, Dolphin Cove jumped $1.20 to $8 with 14,861 units changing hands. Everything Fresh gained 5 cents to finish at $1.04, with an exchange of 20,050 stocks, Express Catering fell 30 cents to $4.70 in switching ownership of 112,404 shares, Fontana slipped 5 cents to $5.95 with 53,817 stocks passing through the market. Honey Bun lost 10 cents to end at $6.75 with 52,259 units traded, Indies Pharma rose 6 cents to $3.90 with a transfer of 45,948 shares, Jamaican Teas fell 7 cents to $4 with 212,786 stock units changing hands. Jetcon Corporation gained 9 cents to settle at $1.03 with an exchange of 168,030 units, Knutsford Express shed 98 cents to close at $7.02 with 1,691 stocks passing through the market, Lasco Distributors advanced 18 cents to $4.14 with 153,147 shares traded. Lasco Financial climbed 24 cents to $3.99 with a transfer of 216,011 units. Lasco Manufacturing rose 8 cents to $5.60 with 580,585 stock units changing hands, Medical Disposables jumped 65 cents to $5.05 with 679 stocks passing through the market. Stationery and Office Supplies gained 15 cents to end at $8.15 with 10,860 units traded and tTech dropped $1.18 to close at $5.07 with 2,600 shares crossing the exchange.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Rising stocks dominate Junior Market

May 31, 2021 by

Trading closed on the Junior Market of the Jamaica Stock Exchange on Monday, with the volume of stocks rising 126 percent and the value 72 percent over Friday trades, with rising stocks outnumbering declining ones, two to one at the close.
Market activity led to 39 securities trading, down from 41 on Friday, with 21 rising, 11 declining and seven closing unchanged.
At the close, the Junior Market Index slipped 4.77 points to 3,324.73 to be up just under 26 percent for the year to date. The PE Ratio based on ICInsider.com’s forecast of 2021-22 earnings averaged 12.3.
A total of 13,810,331 shares traded at $29,320,428, up from 6,105,277 units at $16,999,068 on Friday.
Future Energy Source led trading with 54.5 percent of total volume after it traded 7.53 million shares, followed by Lasco Distributors with 11.4 percent while exchanging 1.58 million units and Lasco Manufacturing with 4.8 percent with an exchange of 657,218 units.
Trading averaged 354,111 units at $751,806, down from 148,909 at $414,611 on Friday. The month to date averaged 318,089 units at $760,337, compared to 316,141 units at $760,798 on Friday. April closed with an average of 329,241 units at $854,716.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Caribbean Assurance Brokers advanced 8 cents to $1.97 with 1,500 shares passing through the market, Caribbean Producers climbed 14 cents to $3.80 with 159,024 units changing hands, Dolphin Cove dropped 20 cents to $6.80 with 32,861 stocks traded. Fontana gained 20 cents to close at $6 with investors exchanging 185,586 stock units, General Accident increased 15 cents to $6 with an exchange of 90,605 shares, Honey Bun rose 5 cents to $6.85 with a transfer of 60,639 units. Jamaican Teas added 6 cents to close at $4.07 with 218,302 stocks passing through the market, Jetcon Corporation slipped 8 cents to 94 cents with 174,027 stock units changing hands, KLE Group fell 6 cents to $1.22 with 644,500 shares traded. Knutsford Express shed 30 cents to $8, trading 19,174 units, Lasco Distributors dropped 29 cents to $3.96 in exchanging 1,576,784 stocks, Limners and Bards lost 9 cents to finish at $3.06 with a transfer of 127,224 stock units. Lumber Depot advanced 10 cents to $3.40 with 155,164 shares passing through the market, Mailpac Group rose 5 cents to $3.76 with 248,853 units changing hands, Medical Disposables shed 60 cents to close at $4.40 with 18,477 stock units traded. SSL Venture gained 8 cents to end at 63 cents with investors swapping 6,366 stocks, Stationery and Office Supplies dropped 20 cents to $8 with a transfer of 10,501 units and Tropical Battery fell 7 cents to $1.15 with 583,616 shares crossing the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

ICTOP10 – Guardian a better buy now

May 31, 2021 by

The average gains projected for the Junior Market fell from 225 percent last week to 218 percent as the prices of a number of the top 10 stocks rose during the past week, but with no new entrant to either Top 10 list. The average projected gains for the Main Market stocks move up from 162 to 169 percent helped in a big way by the fall of Guardian Holdings from $790 last week to $763.  

Guardian Holdings hit a low of J$750 on Friday.

The price slippage for Guardian shares below $790 provides investors a better value proposition, with the PE at 8.3 times, rather than 8.6 that the NCB Global offer price for the 2 million shares they are offering to the public.
The markets continue to face resistance this past week, with the Junior Market is trading at the very top of its upward sloping channel while the JSE Main Market sits a few thousand points away and facing turbulence in getting to the peak. With the two Lasco companies releasing results after the market closed on Friday it will be interesting to see what investors do with their prices. If they rise appreciable the resistance is likely to be broken and clear the way to move to a new yearly high in the weeks ahead.
The Junior Market closed the week at 3,329.50, up slightly from 3,324 at the end of the previous week. The JSE All Jamaica Composite Index ended at 454,375.81 on Friday, marginally lower than 454,479.33 at the close of the previous week.
The top three stocks in the Junior Market, remain unchanged for this week, with Elite Diagnostic heading the list, followed by Caribbean Assurance Brokers and Caribbean Producers, with the potential to gain between 255 to 303 percent. The top three Main Market stocks are Radio Jamaica in the number one spot, followed by PanJam Investments and Wisynco, with expected gains of 149 to 371 percent.
This week’s focus: RJR suffered badly from the effects of the curtailment of business in 2020 after showing signs of recovering from the prior years’ slow growth and high cost of operations. In 2020 they moved to deal with the pressure the fallout had and showed marked improvement in the second half of the calendar year. Importantly, there was significant cost cutting with the third quarter showing the effects with vastly improved results.
The impression given in the group’s December quarterly report is that the sharp fall in direct operating, selling and marketing costs were directly related to the fall off in revenues. That of course is only part of the story. The fall in cost has been far greater than the reduction in revenues suggesting that actual cost cutting was effected. ICInsider.com confirmed that the group that made some staff redundant also made changes by discontinuing unprofitable programs and publications. “Regarding cost reductions, some changes in the distribution network and workflows are permanent,” this publication was informed but revenues for some of the newspapers continue to run below pre Covid-19 levels.
The targeted PE ratio for the market averages 20 based on profits of companies reporting full year’s results, up to the second quarter of 2022. Fiscal 2020-21 ended March 2021 with the average PE at 17 for Junior Market stocks and 19 times for the Main Market.
The Junior Market with an average PE 12.4 based on ICInsider.com’s 2021-22 earnings, is currently trading below the target, as well as the recent historical average of 17, this represents another 37 percent rise in the market that would equate to a rise of 61 percent to March 2022. The Junior Market Top 10 stocks average a mere 6.4 at just 52 percent of the market average, indicating substantial gains ahead. The JSE Main Market ended the week with an overall PE of 7.8, some distance from the 19 the market ended March, suggesting a 17 percent rise from now to March 2022. The Main Market TOP 10 trades at a PE of 7.8 or 48 percent of the PE of that market and well off the potential of 20.
IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on likely increase for each company, taking into account the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in movements in and out of the lists weekly. Revisions to earnings per share are ongoing, based on receipt of new information.

Persons who compiled this report may have an interest in securities commented on in this report.

 

Filed Under: Buy Rated Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Junior Market recovers Thursday’s loss

May 28, 2021 by

Trading closed on Friday with the Junior Market Index gaining 34.45 points to 3,329.50, but the volume of stocks trading dropped 36 percent and the value falling 17 percent from Thursday levels at the conclusion of market activity of the Jamaica Stock Exchange Junior Market.
Trading ended with 41 active securities compared to 37 on Thursday and closed with 16 rising, 18 falling and seven unchanged.
At the close, the PE Ratio, based on ICInsider.com’s forecast of 2021-22 earnings, averages 12.4.
Trading ended with 6,105,277 shares changing hands for $16,999,068, down from 9,546,922 units at $20,365,504 on Thursday.
Future Energy Source led trading with 33.5 percent of total volume for an exchange of 2.05 million shares followed by Jamaican Teas with 13.2 percent for 803,886 units and Mailpac Group with 8 percent market share for 488,914 units.
Trading averaged 148,909 units at $414,611, down from 258,025 at $550,419 on Thursday. Trading month to date averages 316,141 units at $760,798, compared to 326,224 units at $781,671 on Thursday. April closed with an average of 329,241 units at $854,716.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Access Financial shed 49 cents to end at $22 in an exchange of 1,082 shares, AMG Packaging lost 8 cents in closing at $1.60 with 16,001 stocks changing hands, Blue Power dipped 9 cents to settle at $3.90 in transferring 140 units. CAC 2000 fell 77 cents to $9.23 trading 5,396 shares, Caribbean Cream gained 13 cents to end at $5.90 with 811 stock units clearing the market, Caribbean Producers lost 8 cents to close at $3.66 with 17,378 shares changing hands. Consolidated Bakeries picked up 20 cents to finish at $1.70 with the swapping of 9 stock units, Derrimon Trading gained 5 cents to end at $2.51 in trading 204,421 stocks, Express Catering rose 28 cents to $5 in exchanging 13,842 units, Fontana fell 38 cents to $5.80 with a transfer of 369,864 stocks. Honey Bun lost 17 cents in trading 7,181 stock units at $6.80, Iron Rock Insurance gained 5 cents to finish at $3.25 with 200,000 units crossing the market, Knutsford Express rose 30 cents to $8.30 with 14,497 units changing hands, Lasco Distributors lost 5 cents in closing at $4.25 with the swapping of 27,858 stocks. Lasco Financial ended 35 cents higher at $3.75 after exchanging 171,636 stocks, Lasco Manufacturing gained 15 cents in closing at $5.50 with the swapping of 160,799 shares, Limners and Bards lost 5 cents to settle at $3.15 in exchanging 454,746 units. Main Event rose 45 cents to $4.65 after a transfer of 125 stocks, SSL Venture fell 8 cents to 55 cents in exchanging 10,100 shares and Stationery and Office Supplies gained 10 cents in closing at $8.20 with investors switching ownership of 1,000 stock units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Falling stocks drive index below 3,300 points

May 27, 2021 by

Trading closed on Thursday with the volume of stocks traded rising 90 percent, with 64 percent greater value than in trading on Wednesday as the Junior Market closed with five stocks falling for every three that rose and sending the market index down below the 3,300, for the first time since May 10.
A total of 37 securities traded versus 36 on Wednesday, with 12 rising, 19 declining and six closing unchanged.
The Junior Market Index fell 33.16 points to close at 3,296.05. The PE Ratio based on ICInsider.com’s 2021-22 earnings forecast averages 12.3.
Trading ended with 9,546,922 shares for $20,365,504, up from 5,015,838 units at $12,383,936 on Wednesday.
Future Energy Source led trading with 51.5 percent of total volume after 4.91 million shares traded, followed by Lasco Financial  8.9 percent with 846,659 units and Jamaican Teas with 8.7 percent market share with an exchange of 830,856 units.
Trading averaged 258,025 units at $550,419 in contrast to 139,329 at $343,998 on Wednesday. Month to date averages 326,224 units at $781,671, compared to 330,148 shares at $794,978 on Wednesday. April closed with an average of 329,241 units at $854,716.
Investor’s Choice bid-offer indicator shows one stock ending with the bid higher than its last selling price and four with lower offers.
At the close, Access Financial climbed $2.29 to $22.49 with an exchange of 2,500 shares, CAC 2000 advanced 30 cents to $10 with 14,535 units changing hands, Caribbean Assurance Brokers lost 11 cents to finish at $1.86 with a transfer of 32,517 stocks. Caribbean Cream dropped 23 cents to $5.77 with 798 shares passing through the market, Caribbean Flavours rose 6 cents to $2.12 in exchanging 4,316 units, Derrimon Trading slipped 6 cents to $2.46 with 139,011 stocks changing hands. Dolphin Cove shed $1 to close at $7 with a transfer of 35,302 shares, Fontana gained 9 cents to end at $6.18 with 54,919 units passing through the market, General Accident fell 15 cents to $5.85 with 15,561 stocks traded. Honey Bun advanced 22 cents to $6.97 with an exchange of 36,956 shares, Jamaican Teas lost 5 cents to finish at $4 with 830,856 units changing hands, Jetcon Corpoation slipped 5 cents to $1 with a transfer of 51,340 stock units. KLE Group climbed 28 cents to $1.30 with 68,000 stocks passing through the market, Knutsford Express fell 10 cents to $8 with 500 shares traded, Lasco Distributors rose 11 cents to $4.30 with an exchange of 118,363 units. Lasco Manufacturing dropped 14 cents to $5.35 with 73,518 stocks changing hands, Limners and Bards slipped 5 cents to $3.20 with a transfer of 149,575 stock units, Lumber Depot lost 10 cents to settle at $3.30 with 373,843 stocks traded and Main Event advanced 20 cents to $4.20 with 1,582 shares crossing the exchange.

  Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Junior Market rebounds on Wednesday

May 26, 2021 by

The Junior Market Index advanced 26.36 points to 3,329.21 on Wednesday, but the volume of stocks traded exchanged dropped 49 percent from Tuesday, with the value traded also falling in dipping by 50 percent.
Market activity resulted in  36 securities changing hands, compared to 38 on Tuesday, with 17 rising, seven declining and eight closing unchanged.
At the close of trading, the average PE Ratio based on ICInsider.com’s forecast of 2021-22 earnings ended at 12.5.
Trading ended with 5,015,838 shares for $12,383,936 down from 9,807,790 units at $24,800,486 on Tuesday.
Tropical Battery led trading with 23.4 percent of total volume for 1.18 million shares, followed by Future Energy Source with 14.4 percent after trading 720,272 units for and iCreate with 7.3 percent, with an exchange of 367,028 units.
Trading averaged 139,329 units at $343,998, down from 258,100 at $652,644 on Tuesday. The month to date averages 330,148 units at $794,978, compared to 341,465 units at $821,725  on Tuesday. April closed with an average of 329,241 units at $854,716.
Investor’s Choice bid-offer indicator shows two stocks ending with bids closing higher than their last selling prices and three with lower offers.
At the close, Caribbean Assurance Brokers rose 8 cents to $1.97 with investors trading 1,200 shares, Caribbean Cream climbed 48 cents to $6 with 50,000 stock units changing hands, Caribbean Producers advanced 20 cents to $3.75 with an exchange of 228,985 stocks. Derrimon Trading increased by 8 cents to $2.52 with a transfer of 271,536 shares, Dolphin Cove jumped 50 cents to $8 with 1,275 units passing through the market, Express Catering gained 28 cents to end at $4.70 with 11,407 stock units changing hands. Fontana slipped 6 cents to $6.09 with an exchange of 53,758 shares, General Accident advanced 20 cents to $6 with investors switching ownership of 100 stocks, iCreate rose 5 cents to 90 cents with a transfer of 367,028 units. Indies Pharma lost 5 cents to settle at $3.80 with 35,925 stock units passing through the market, Jetcon Corporation gained 10 cents to finish at $1.05 with 257,091 shares traded, KLE Group dropped 19 cents to $1.02 with 5 units changing hands. Knutsford Express fell 20 cents to $8.10 with an exchange of 5,000 stock units, Lasco Distributors advanced 19 cents to $4.19 with a transfer of 6,780 stocks, Lasco Financial climbed 24 cents to $3.40 with 256,058 shares passing through the market. Lumber Depot increased by 15 cents to end at $3.40 with 333,743 units traded, Mailpac Group lost 6 cents to close at $3.75 with 235,899 stock units changing hands, Main Event dropped 30 cents to $4 with investors switching ownership of 133,079 stocks. SSL Venture gained 8 cents to settle at 63 cents with 4,746 units traded and Tropical Battery rose 6 cents to $1.22 with 1,175,768 shares crossing the exchange.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Junior Market down for a second day

May 25, 2021 by

Stock prices mostly pulled back in trading closed on Tuesday, after the market closed on Monday for the country’s Labour Day public holiday, with the volume of stocks traded rising 36 percent above Friday’s activity, with the value traded, rising 11.5 percent, at the close of the Junior Market of the Jamaica Stock Exchange.
At the close, 38 securities traded, down from 41 on Friday and ended with 11 stocks rising, 18 declining and nine remaining unchanged.
At the close, the Junior Market Index slipped for the second day running, with a fall of 21.23 points to close at 3,302.85. The PE Ratio based on ICInsider.com’s forecast of 2021-22 earnings ended with an average of 12.3.
A total of 9,807,790 shares traded for $24,800,486 compared to 8,800,514 units at $18,269,545 on Friday.
Lumber Depot led trading with 2.73 million shares for 27.8 percent of the total volume, followed by Future Energy Source 22.5 percent of the day’s trade with 2.21 million units and CAC 2000 9.5% preference share 10.3 percent with 1.01 million units.

Trading averaged 258,100 units at $652,644 in contrast to 214,647 at $445,599 on Friday. For the month to date, trading averages 341,465 units at $821,725, compared to 347,033 units at $833,017 on Friday. April closed with an average of 329,241 units at $854,716.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and one with lower offers.
At the close, Access Financial advanced $1.96 to finish at $22.16, trading 49 shares, Caribbean Assurance Brokers dropped 11 cents to close at $1.89, after 7,131 stock units crossed the market, Caribbean Cream fell 14 cents to $5.52, with 43,307 shares changing hands, Caribbean Flavours dropped 10 cents to end at $2.05 in exchanging 134,970 units. Caribbean Producers shed 20 cents to close at $3.55, with 60,909 stocks clearing the market, Consolidated Bakeries shed 20 cents in ending at $1.50 after exchanging 35,150 shares, Derrimon Trading dropped 6 cents to $2.44, with 203,827 stock units changing hands. Dolphin Cove lost 11 cents to end at $7.50 after trading 1,583 stock units, Express Catering lost $1.08 to end at $4.42 with an exchange of 35,563 units. Fontana climbed 9 cents to $6.15, trading 98,368 stocks, Gwest Corporation climbed 20 cents to $1 in switching ownership of 487,358 units. Jetcon Corporation shed 7 cents in closing at 95 cents after trading 101,563 units, Knutsford Express fell 5 cents to $8.30 in switching ownership of 2,107 stock units, Lasco Distributors lost 15 cents to end at $4 with an exchange of 49,113 stocks. Lasco Financial fell 14 cents to $3.16, with 29,785 stock units crossing the exchange, Limners and Bards fell 15 cents to $3.21 after 148,066 units cleared the exchange. Mailpac Group rose 6 cents $3.81 after exchanging 216,045 units, SSL Venture declined 9 cents to 55 cents in an exchange of 50,318 stocks and Stationery and Office Supplies fell 20 cents to $8.10, trading 27,915 shares.

 Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Guardian Holdings in ICTOP10

May 23, 2021 by

Guardian Holdings moved into the IC TOP 10 following the release of a prospectus from NCB Global that is offering 2 million shares to the public at $790 each, with the stock price falling immediately, after by more than $110, to be in line with the public offer price, valuing the company’s shares at 8 times 2021 projected earnings.

Guardian Holdings now in ICInsider.com’s TOP10.

Elsewhere, with the passage of earnings season, the markets have lost most of their recent firepower to drive prices forward at a time when the Junior Market is trading at the very top of its upward sloping channel while the JSE Main Market is a few thousand points away and in facing much turbulence in attempting to break through the peak.
At the start of the past week, the Junior Market pulled back from last Friday’s close, to sit just above the 3,300 level but climbed on each succeeding day of the week, but pulled back slightly on Friday to close at 3,324 points just a few points higher than at the end of the previous week. At the same time, the JSE Main Market made attempts to come close to the 460,000 mark of the All Jamaica Composite Index but was rebuffed on each occasion and ended the week at 454,479.33, up from 451,713.66 at the close of the previous week.
The Junior Market has to decidedly break through the upper limit of the trading channel, to free it to move on to the next area of resistance, just over 4,000 mark, but the Main Market has room to run for a few thousand points before it hits the channel top at 460,000 points.
There is a shakeup of the top three stocks in the Junior Market, this week. Elite Diagnostic heads the list, followed by Caribbean Assurance Brokers and Caribbean Producers, with potential to gain between 247 to 300 percent. The top three Main Market stocks are Radio Jamaica in the number one spot, followed by Wisynco and PanJam Investments, with expected gains of 151 to 344 percent.
The targeted PE ratio for the market averages 20 based on profits of companies reporting full year’s results, up to the second quarter of 2022. Fiscal 2020-21 ended March 2021 with the average PE at 17 for Junior Stocks and 19 times for the Main Market. With interest rates on government paper below 5 percent and likely to remain there for a few years, the likelihood is for the average PE ratios to climb higher during the next twelve months or so.
The Junior Market with an average PE 12.5 based on ICInsider.com’s 2021-22 earnings, is currently trading well below the target, as well as the recent historical average of 17, this represents another 36 percent rise in the market that would equate to a rise of 60 percent to March 2022. The Junior Market Top 10 stocks average a mere 6.2 at just 50 percent of the market average, indicating substantial gains ahead. The JSE Main Market ended the week with an overall PE of 16.5, some distance from the 19 the market ended March, suggesting a 15 percent rise from now to March 2022. The Main Market TOP 10 trades at a PE of 7.9 or 48 percent of the PE of that market and well off the potential of 20.
The average projected gain for the Junior Market IC TOP 10 stocks is 225 percent and 162 percent for the JSE Main Market, based on 2021-22 earnings. IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on likely increase for each company, taking into account the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in movements in and out of the lists weekly. Revisions to earnings per share are ongoing, based on receipt of new information.

Persons who compiled this report may have an interest in securities commented on in this report.

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