Trading on Tuesday, ended with the volume of shares changing hands rising 18 percent above trading on Monday with a 55 percent fall in the value, at the close of the Jamaica Stock Exchange US dollar market, resulting in more stocks falling than rising.
A total of seven securities traded, compared to six on Monday with one rising, five declining and one ending unchanged. The JSE US Denominated Equities Index slipped 0.21 points to end at 204.89.
The PE Ratio, a measure used to compute appropriate stock values, averages 14. The PE ratio computations for the JSE USD stocks use ICInsider.com earnings forecasts for companies with financial years, up to August 2022.
Overall, 1,143,202 shares traded for US$32,461 versus 972,142 units at US$72,478 on Monday. Trading averaged 163,315 units at US$4,637, compared to 162,024 shares at US$12,080 on Monday, and month to date averages 74,299 shares at US$5,676 versus 54,199 units at US$5,910 on the previous day. February ended with an average of 87,719 units for US$9,318.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and one with a lower offer.
At the close, First Rock Capital USD share fell 0.3 of a cent to close at 7.7 US cents after trading 273,235 shares, Margaritaville dropped 1.6 cents to end at 16 US cents 1,605 stock units changing hands, Proven Investments declined 0.98 of a cent in closing at 23.02 US cents after exchanging 3,062 stocks. Sterling Investments shed 0.01 of a cent in ending at 2.04 US cents and trading 240,208 units, Sygnus Credit Investments USD share remained at 12.99 US cents with 4,184 units changing hands, Sygnus Real Estate Finance USD share lost 0.01 of a cent in closing at 15.89 US cents while exchanging 80 stock units and Transjamaican Highway gained 0.07 of one cent after ending at 0.89 US cents and trading 620,828 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Falling stocks drown out risers on JSE USD market
Sharp drop in value of stocks traded in Trinidad
Market activity ended on Tuesday after 96 percent fewer shares, with 81 percent less value traded than on Monday on the Trinidad and Tobago Stock Exchange, resulting in just over four stocks falling to each rising at the close of trading.
A total of 21 securities traded up sharply from 15 on Monday, with two rising, nine declining and 10 ended unchanged as the Composite Index shed 2.26 points to 1,474.61, the All T&T Index dipped 2.88 points to 2,091.68 and the Cross-Listed Index shed 0.23 points to settle at 114.12.
A total of 93,524 shares traded for $2,387,292, down from 2,218,175 units at $12,348,774 on Monday. An average of 4,454 units traded at $113,681 versus 147,878 shares at $823,252 on Monday, Trading month to date averaged 35,424 units at $415,018 compared to 43,657 units at $495,121. The average trade for February amounts to 47,858 units at $516,870.
Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Agostini’s remained at $50 in exchange of 500 shares, Angostura Holdings shed 20 cents to $19.80 after the trading of 1,017 units, Ansa McAl closed at $57 in an exchange of 3,584 stock units. Calypso Macro Investment Fund dropped 1 cent to close at $17.05, with 120 stocks crossing the market, Clico Investment Fund ended unchanged at $30.47 with an exchange of 20,005 stocks, First Citizens Group finished at $60, with 3,865 stock units changing hands. GraceKennedy ended unchanged at $6 in trading 6,565 shares, Guardian Holdings lost 21 cents in ending at $29.54, with 37 units clearing the market, Guardian Media remained at $3.04, with 1,804 shares crossing the exchange. JMMB Group declined 3 cents in closing at $2.27 after trading 12,030 stocks, Massy Holdings ended at $106 with an exchange of 4,177 stock units, National Enterprises fell 1 cent in closing at $3.09 in switching ownership of 510 units. National Flour Mills finished at $1.95 with the swapping of 5,143 stocks, NCB Financial Group dropped 15 cents to end at a 52 weeks’ low of $7, with 5,728 shares changing hands, Prestige Holdings remained at $7.10 in exchanging 1 stock unit. Republic Financial Holdings fell 1 cent to $140 while exchanging 1,154 units, Scotiabank declined $1 to close at $75 after exchanging 701 units, Trinidad & Tobago NGL lost 50 cents to finish at $20.50, with 16,231 stock units crossing the market. Trinidad Cement advanced 5 cents in closing at $3.75 after exchanging 3,100 shares, Unilever Caribbean finished at $15.50 in exchanging 1,011 stocks and West Indian Tobacco rose 70 cents in closing at $24.70 with the swapping of 6,241 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading activity jumps on Trinidad Exchange
Market activity jumped sharply on Monday, with 643 percent more shares trading, with 85 percent greater value than on Friday, on the Trinidad and Tobago Stock Exchange and ended with more stocks rising than falling at the close.
A total of 15 securities were traded compared to 13 on Friday, with seven stocks rising, three declining and five remaining unchanged as one stock closed at a 52 weeks’ high and one at a low. The Composite Index rallied 7.94 points to 1,476.87, the All T&T Index popped 1.42 points to 2,094.56 and the Cross-Listed Index rose 2.09 points to settle at 114.35.
A total of 2,218,175 shares traded for $12,348,774 up sharply from 298,579 units at $6,689,858 on Friday. An average of 147,878 units traded at $823,252 up from 22,968 shares at $514,604 on Friday, with trading month to date averaging 43,657 units at $495,121 versus 19,230 units at $418,215. The average trade for February amounts to 47,858 units at $516,870.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Ansa McAl declined 50 cents in closing at $57, with 1,050 shares, clearing the market, Calypso Macro Investment Fund climbed 15 cents to close at $17.06 after exchanging 117 stocks, First Citizens Group fell 25 cents ending at $60 after the swapping of 2,228 stock units. GraceKennedy increased 30 cents to $6 in trading 1,216,754 units, Guardian Holdings rallied $1.25 to end at $29.75 while exchanging 1,602 units, JMMB Group inched 1 cent to $2.30 in an exchange of 919,856 stocks. Massy Holdings remained at $106 trading 14,952 stock units, National Enterprises ended unchanged at $3.10 in exchanging 7,060 shares, NCB Financial Group gained 15 cents to close at $7.15, with 2,782 units crossing the exchange. Prestige Holdings ended at $7.10 with the swapping of 27 shares, Scotiabank rose $1 to a 52 weeks’ high of $76 in switching ownership of 6 stocks, Trinidad & Tobago NGL popped 14 cents in closing at $21 after 8,248 stock units changed hands. Trinidad Cement remained at $3.70 with an exchange of 6,628 shares, Unilever Caribbean finished at $15.50, with 2,298 stocks crossing the market and West Indian Tobacco lost 60 cents in ending at a 52 weeks’ low of $24 trading 34,567 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Tropical drops ICTOP10 with 32% rise
Last week Tropical Battery surged right to the top of the ICTOP10 Junior Market listing with the company seems poised to earn $280 million for the current year, with earnings per share of 22 cents. Investors who pounced on the stock immediately after the release of the first quarter results before the price pulled, drive the price up in the holiday shortened week to close with a 32 percent gain at $2.30.
In a week when the Junior Market came back to life to close at a new record high on Friday, following a new record on Thursday, the market index closed on Friday over the 4,100 mark for the first time and ended at 4,168.16, with a 21.6 percent gain for the year to date. At the same time, the Main Market continues to consolidate around the 440,000 points level, on the All Jamaica Composite Index.
The EduFocal initial public offer to raise $130 million at $1 per share, opened and closed on Thursday morning, ICInsider.com was informed that preliminary data suggests that the offer attracted around twice the amount on offer, resulting in the early closure. Elsewhere, the Jamaica Stock Exchange is enjoying robust business in 2022 over 2021, which should deliver a big bump in revenues and profit for 2022 should the trend holds, accordingly, ICInsider.com now puts 2022 earnings for the first quarter above the 2021 full year’s earnings of 71 cents, with a possible $3 per share for the full year. Watch this one.
In TOP10 developments this week, returning to the Junior Market are Cargo Handlers with the price holding at $8.99 and Medical Disposables after the price slipped from $7.27 to $6.60 this week. Dropping out of the TOP10 this week are Caribbean Assurance Brokers with the price falling 23 percent to $2.50 as investors dumped the shares after the company reported a 47 percent increase in profit to 21 cents per share, but vastly down on the 33 cents per share reported in the nine months to September. The Main Market had three changes, with Caribbean Producers and Carreras returning to the Top10 to be joined for the first time by Transjamaican Highway and out goes Berger Paints, Jamaica Broilers and Sagicor Group.
During the week, the Junior Market TOP10 listed AMG Packaging fell 8 percent to $3.14 and in the Main Market, Proven Investments rose 9 percent followed by Berger Paints 6 percent and a 4 percent fall for Jamaica Broilers, but Guardian Holdings and Sagicor Group fell 5 percent
The Junior Market potential gains for the TOP 10 Junior Market stocks moved from 113 percent to 105 percent much lower than the Main Market at 124 percent. The top three stocks in the Junior Market are Elite Diagnostic followed by AMG Packaging and Lasco Distributors to gain between 121 and 126 percent, compared to 120 and 153 percent, previously.
The potential gains for Main Market stocks moved from 125 percent last week to this weeks’ 124 percent, with the top three being Guardian Holdings followed by JMMB Group and Sygnus Credit Investments all projected to gain between 161 and 193 percent versus 161 and 180 percent last week.
The average PE for Junior Market has surpassed the average of 17 times 2020 earnings achieved at the end of March last year in moving to 19.2 based on ICInsider.com’s 2021-22 earnings and is ahead of the JSE Main Market at 16.1. The TOP 10 stocks trade at a PE of a mere 9.8, with a 49 percent discount to that market’s average.
All the stocks in the Junior Market can gain just 4 percent to the end of March this year, based on an average PE of 20. About a third of Junior Market stocks with positive earnings are trading at or above this level, averaging around 23.
The average PE for the JSE Main Market is 16.1 just 18 percent less than the PE of 19 at the end of March and 24 percent below the target of 20 to the end of March this year. The Main Market TOP 10 average PE is 9.2 representing a 43 percent discount to the market, well below the potential of 20. Around 15 stocks or a thirty percent of the market trade at or above a PE of 19, with most over 20, for an average roundabout 25, suggesting that the accepted multiple is between 20 and 25 times the current year’s earnings. The depressed PE of the main market may be indicating that bigger investors are reluctant to be aggressive in buying into the market currently with inflation, rising interest rates and war populating the headlines.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios 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 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.
JSE USD Market closed higher on Friday
Trading on Friday ended on the Jamaica Stock Exchange US dollar market with the volume of shares changing hands declining 39 percent with 92 percent higher value than on Thursday, resulting in an even number of stocks rising than falling.
A total of seven securities traded compared to 11 on Thursday with three rising, three declining and one ending unchanged.
The JSE US Denominated Equities Index gained 1.66 points to end at 208.68.
The PE Ratio, a measure used to compute appropriate stock values, averages 14.4. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years, up to August 2022.
Overall, 195,986 shares traded, for US$54,608 compared to 321,171 units at US$28,484 on Thursday.
Trading averaged 27,998 units at US$7,801, compared to 29,197 shares at US$2,589 on Thursday and month to date averaging 28,321 shares at US$4,429 versus 28,447 units at US$3,118 on the prior trading day. February ended with an average of 87,719 units for US$9,318.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than the last selling prices and one stock with a lower offer.
At the close, First Rock Capital USD share rose 0.97 of a cent in ending at 7.98 US cents, with 1,050 shares crossing the market, Margaritaville fell 2.1 cents to 18 US cents in exchanging 1,900 stocks, Proven Investments rallied 0.95 of one cent in closing at 24.95 US cents after trading 96,033 units. Sygnus Credit Investments USD share popped 0.14 of a cent to end at 12.99 US cents, with 80,853 stock units crossing the exchange and Transjamaican Highway remained at 0.89 of one US cent, with 1,150 shares clearing the market.
In the preference segment, JMMB Group 5.75% lost 6 cents in closing at US$2.03 after trading 5,000 units and JMMB Group 6% declined 10 cents to US$1 with 10,000 stocks changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Market activity falls on TTSE
Market activity ended on the Trinidad and Tobago Stock Exchange on Friday and resulted in fewer stocks trading after the value plunged 41 percent lower than on Thursday and ended with more stocks declining rising than rising at the close.
Only 13 securities traded compared to 16 on Thursday, with three rising, seven declining and three remaining unchanged as the Composite Index fell 9.06 points to1,468.93, the All T&T Index shed 5.40 points to end at 2,093.14 and the Cross-Listed Index slipped 1.82 points to close at 112.26.
A total of 298,579 shares traded for $6,689,858 compared to 328,500 units at $11,352,308 on Thursday. An average of 22,968 units traded at $514,604 compared to 20,531 shares at $709,519 n the previous day, with trading month to date averaging 19,230 units at $418,215 versus 18,277 units at $393,645. The average trade for February amounts to 47,858 units at $516,870.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and one stock with a lower offer.
At the close, Agostini’s dropped 25 cents in closing at $50 after the trading of 450 shares, Angostura Holdings increased 25 cents to $20 with the swapping of 24 stock units, Clico Investment Fund rallied 96 cents to end at $30.47 in exchanging 50 units. First Citizens Group fell 75 cents to close at $60.25 after 352 stocks changed hands, GraceKennedy fell 25 cents to $5.70, with 109,861 stock units crossing the exchange, JMMB Group declined 1 cent to $2.29 in trading 49,533 units. Massy Holdings ended unchanged at $106, with 44,299 stocks changing hands, NCB Financial Group lost 25 cents in closing at $7 after 65,907 shares passed through the exchange, Republic Financial Holdings slipped 7 cents to $140.01 with an exchange of 1,458 stocks. Scotiabank ended at $75 in switching ownership of 688 units, Trinidad & Tobago NGL popped 36 cents in ending at $20.86 after exchanging 5,173 stock units, Unilever Caribbean finished at $15.50 while exchanging 13,953 shares and West Indian Tobacco shed 40 cents in closing at $24.60 in trading 6,831 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated
Surge in JSE USD securities trading
Trading on Thursday, ended with the volume of shares changing hands rising after trading 68 percent more than on Tuesday, at the close of the Jamaica Stock Exchange US dollar market, resulting in an even number of stocks rising and declining.
A total of 11 securities traded, compared to seven on Tuesday with three rising, three declining and five ending unchanged. The JSE US Denominated Equities Index lost 0.80 points to end at 207.02.
The PE Ratio, a measure used in computing appropriate stock values, averages 13.5. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years, up to August 2022.
Overall, 321,171 shares traded for US$28,484 up from 190,871 units at US$27,641 on Tuesday. Trading averaged 29,197 units at US$2,589, compared to 27,267 shares at US$3,949 on Tuesday and month to date averaging 28,447 shares at US$3,118. February ended with an average of 87,719 units for US$9,318.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than the last selling price and none with a lower offer.
At the close, First Rock Capital USD share slipped 1.39 cents to close at 7.01 US cents after 43,000 shares crossed the exchange, Margaritaville rose 2.1 cents to end at 20.1 US cents with 20,000 stocks changing hands, MPC Caribbean Clean Energy ended at US$1.26 after exchanging 1 unit. Proven Investments shed 0.97 cents in ending at 24 US cents with an exchange of 58,473 stock units, Sterling Investments lost 0.07 cents in closing at 2.3 US cents after 523 shares ended up crossing the market, Sygnus Credit Investments USD share remained at 12.85 US cents with the swapping of 10,000 stock units. Sygnus Real Estate Finance USD share rose 0.5 of a cent in closing at 15.9 US cents while exchanging 28,300 units and Transjamaican Highway finished at 0.89 of one US cent after exchanging 160,865 stocks.
In the preference segment, Equityline Mortgage Investment preference share gained 0.1 of a cent to close at US$2 in trading 3 stock units. JMMB Group 5.75% traded one unit at US$2.09 and JMMB Group 6% remained at US$1.10 in exchanging 5 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.