Investors responded to information relating to proposed interest by the infant Dolla Financial in Access Financial, with the prices of both stocks triggering the circuit breaker as the market opened. But investors would be better focused if they look at the fundamentals of both companies rather than an unlikely coming together of both.
Access Financial Services head office.
The price movements of both as well as for Stationery and Office Supplies that also triggered the circuit breaker at the start of trading push the Junior Market index up a nice 78.30 points to 4,142.42.
The overall Jamaican Stock Exchange gained at the close of trading on Friday except for a minor slippage in the USD Market with the JSE Combined Index a measure of the overall market, rising by 1,042.15 points to 380,712.84. The All Jamaican Composite Index rose 621.52 points to 418,550.69, the JSE Main Index gained361.51 points to close at 367,335.68 and the JSE USD market Index dipped 0.51 points to 194.22.
Trading ended, with 21,812,469 shares changing hands with a value of $123.9 million, up from just $44.35 million, with 9,794,268 shares traded in the overall market on the prior trading day. The JSE USD market ended with the value of stocks traded at US$145,667.
The market’s PE ratio ended at 23.3 based on 2021-22 earnings and 12.5 times those for 2022-23 at the close of trading.
Investors need pertinent information to successfully navigate many investment options in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational investment decisions by investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and put in on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The ICInsider.com PE Ratio chart covers all ordinary shares on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.