Spur Tree Spices joins ICTOP10

December 27, 2021 by

The big news for the market for the past week was the release of the prospectus of the long-awaited Initial Public offer of Spur Tree Spices priced at $1 per share at PE of 8.7 based on earnings before tax and propelling the stock in this week’s Junior Market ICTOP10. Investors should also see the prospectus release for Jamaica Fibreglass Products this week or next.
Spur Tree pushed Jetcon Corporation out of the TOP10, with the latter enjoying a 9 percent price rise to 99 cents. Over in the Main Market TOP10, Sagicor Group rose just 2 percent to close at $53.
During the week, AMG Packaging rose 3 percent to $2.12, Access Financial Services climbed 7 percent to $20.95, Lasco Distributors rose 6 percent to $3.47, but Elite Diagnostic and Honey Bun both fell 10 percent to $2.71 and $8.55, respectively and Caribbean Cream fell 4 percent to $5.70.
The public offer for Spur Tree Spices shares opens on Wednesday this week and should be heavily oversubscribed, with closure likely by the end of the week.
This week, the top three Main Market stocks are Guardian Holdings, followed by JMMB Group and  Radio Jamaica, all projected to gain between 183 and 261 percent, up from 178 and 257 percent last week.
The Junior Market top three stocks changed a bit during the week, with AMG Packaging leading, followed by Caribbean Assurance Brokers, with Access Financial Services moving from the second spot to the third position. All three can gain between 158 and 230 percent versus 167 and 240 percent previously.
The average gains projected for the TOP 10 Junior Market stocks moved from 149 percent last week to 151 percent and Main Market stocks moved from 155 percent to this weeks’ 154 percent.
The Junior Market closed the week with an average PE of 14.4 based on ICInsider.com’s 2021-22 earnings and is currently well below the target of 20 and the average of 17 at the end of March this year based on 2020 earnings. The TOP 10 stocks trade at a PE of a mere 8.1, with a 44 percent discount to that market’s average.
The Junior Market can gain 39 percent to March next year, based on an average PE of 20 and 18 percent based on an average PE of 17. Eleven stocks representing 26 percent of all Junior Market stocks with positive earnings are trading at or above this level, similar to last week, indicating that many others will rise towards the 17 mark in the months ahead.
The average PE for the JSE Main Market is 16.1, some 18 percent less than the PE of 19 at the end of March and 24 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 8.1, representing a 51 percent discount to the market and well below the potential of 20. A total of 13 stocks or 28 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.
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.

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

IC Buy Rated Spur Tree IPO a big buy

December 22, 2021 by

Spur Tree Spices Jamaica’s prospectus for its Initial Public of 335,391,848 ordinary shares at $1 each is now released to the public for subscription with the opening date of December 29, with just about 180 million units available for subscription by the general public.
Overall 335 million shares are being sold in the offer but 135 million are reserved. Proceeds will be used to pay the Invitation and listing expenses and the remainder to go to the Company to be used for the repayment of debts and to facilitate business expansion. The total Invitation and Listing Expenses should not exceed $25 million. The total debt to be repaid from the proceeds raised is $169 million, broken down as a payment of $157 million to GK Investments and $12.5 million to reduce Directors’ Loans.
Shares will be issued on a first come basis. If the Invitation is oversubscribed, the Company reserves the right to allot shares to applicants on a basis to be determined by it in its sole discretion, including on a pro rata basis. In the event the Invitation is oversubscribed, the Company in consultation with the arranger and lead broker reserves the right to make adjustments to the basis of allocation to ensure fair and equitable allocation.
The company is in operation for 15 years in Jamaica and operates out of a 20,000 square feet manufacturing facility at Garmex, on Marcus Garvey Drive in Kingston. The company specialises in production, distribution and the sale of Jamaican seasonings and sauces, for retail and foodservice markets.
Revenue grew 22 percent over the prior year to $701 million and at a compounded annual growth rate of 25 percent from $290 million in 2016. The increase in 2020 came from improved product placement and the expansion to new markets, with approximately 95 percent from the export markets the company stated.
The gross profit margin improved from 25.1 percent in 2019 to 26.7 percent in 2020. For the nine months to September, this year’s gross profit margin ended at 28.8 percent. During the 2016 to 2020 period, gross profit margin exceeded 25 percent, with a range of 25 to 38 percent.
Profit before tax rose 52 percent to $82 million, from $54 million in the prior year. In each of the 5 years under review, the Company increased its profit before tax each year from $21 million in 2016 to $82 million in 2020, a five-year compounded annual growth rate of 40 percent.
Results to September 2021 show a profit of $116 million from revenues of $834 million suggesting that the full year should see a pretax profit of $155 million. Gross cash flow amounts to $115 million for 2020 up from $57 in 2019.
Return on average equity at the end of the 2020 financial year was a rich 47 percent after tax and seem set to rise in 2021.
The company’s products are available in Jamaica, the United States, Canada, the United Kingdom, Cayman Island, Costa Rica and Australia through several distributor outlets. While the Company is active in the local market through its various distribution channels, its major focus from inception has been and continues to be the export market. There are more Jamaicans, and persons of Jamaican descent, residing outside the country, who value that special connection with home whether through music, food, or other forms of cultural authenticity.

“Our export sales and marketing strategies are geared to satisfying the needs of the Jamaican diaspora who now make up our largest customer base. However, in recent years, there has been an expansion of the demand for Spur Tree products in the overseas space to include non Jamaicans of all different races and ethnicities seeking an authentic Caribbean food experience. Our products are sold in supermarket chains such as Shoprite, Food Bazaar, Food World, Western Beef, Presidente and Extra among others in the United States, as well as in the largest foodservice cash and carry store in the United States, Restaurant Depot/Jetro. Our products are also prominently showcased in major chains in Canada such as Loblaw’s and Sobeys,” the company stated in the prospectus.
“Spur Tree recently completed the purchase of Exotic Products Jamaica (Succs.) Limited (“Exotic”), an ackee factory in St. Thomas. Ackee is a highly demanded strategic product in our export markets and the Company plans to rationalize the operations of this newly acquired entity to double production over the next two years. This, combined with our plans to expand and grow the current Spur Tree product range, while expanding current markets both locally and overseas and accessing new markets should significantly improve our sales and profit performance in the coming years”, the company stated.
Issued shares at the date of this Prospectus total 1,341,567,396 and after the IPO the issued shares should climb to 1,676,959,244 and the total equity capital will rise to around $600 million from $275 million at the end of September. Current assets amounted to $357 million and current liabilities at $221 million and cash on hand of $56 million.
Earnings per share should end the year at 11.5 cents before taxation and puts the PE at an attractive 8.7 times earnings and below the market average of 14.4 currently. IC Insider.com projects 18.5 cents earning for 2022 from a profit of $300 million at a PE of 5.4 times 2022 profit, which means lost of profitable trades are baked in barring any major negative development.

Filed Under: Buy Rated, Initial Public Offers Tagged With: , , , , , ,

IPO gifts for Christmas and early New Year

December 22, 2021 by

The current year 2021 has not been a bumper one for initial public offerings in Jamaica, all of that could change as Santa has one or two gifts on his sleigh to deliver either a few days before Christmas or just after.
Word on the street is that investors should save some of the money earmarked for Christmas gifts and prepare for two Initial Public offerings that could hit the road ahead of Christmas and just ahead of the New Year.
The year is closing fast saw one outstanding offer returning a bid payoff for investors as the Junior Market listed Future Energy Source there were a few in the Main market but they failed to generate any excitement for investors.
ICInsider.com previously reported that the initial public offer of shares in Jamaica Fibreglass Products is expected to come to the Jamaican capital market in October, our source advises, with Spur Tree Spices to come shortly after. We said then that, “Jamaica Fibreglass Products produces fiberglass-based furniture and beddings, with revenues said to be in the region of $600 million, is expected to raise approximately $250 million for expansion purposes. The prospectus of the Metry Seaga-owned company is said to be at an advanced stage of preparation and should be moving through the various stages for approval soon.”
“Spur Tree Spices, with revenues, said to be just over $1 billion, should also be coming in October, if all goes well, intending to pull in $250 million. GK Capital are brokers of the two issues that are slated to list on the Junior Market.”
Various issues seem to have delayed both of the above but the various issue may have been dealt with and the runway is said to be cleared for flights to take off sooner than later.
These two are not the only ones coming. Word is that Mayberry Investments has a few potential IPOs with one or two at advanced stages of readiness to hit the market in 2022. IC Insider.com gathers that one is an IPO to raise around $200 million in the educational line of business and one is for an existing listed company for a fresh capital raise.  There are some regulatory issues regarding the structure of reserve shares for the initial public issue, with the FSC is now proposing that the vast majority of an issue must be made to the general public, thus severely limiting the percentage that can be kept for select clients. It is a move intended to squelch the many concerns of investors of being shut out of getting reasonable amounts of issues.
In October this year, the social learning portal Edufocal disclosed that they signed an agreement to engage Mayberry Investments in a move to raise capital. ICInsider.com gathers that the effort will likely bear fruit early in the New Year. The government of Jamaica’s intention to divest their 20 percent holding in JPS is at a fairly advanced stage and could be early in 2022, but that investment could be fraught with potential dynamite for small investors.
Keep watch, they all could be closer than you think.

Filed Under: Breaking News, Initial Public Offers Tagged With: , , , , , , , , ,

ICTOP10 winner up 369% to date

December 20, 2021 by
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Caribbean Producers (CPJ) stock jumped 17 percent to close the week at a record high of $12.15 and now sits at fourth position in the Main Market TOP 10 with a lot more ground to cover before peaking.

Caribbean Producers traded 52 weeks’ high during the week following a near US$2 quarterly profit.

CPJ started the year in the Junior Market TOP 15 at $2.89 in the number three spot, with a price target of $13, is now up by 369 percent since the start of the year based on projected earnings of 65 cents, since then ICInsider.com upgraded earnings to $1.65 for the current year with a new price target between March and July next year of $33.
Barring some unusual events, CPJ now the leading stock on the overall Jamaica Stock Exchange will most likely end the year way out front and well above Future Energy, another ICTOP10 winner with gains of 254 percent to date.
Lumber Depot dropped out of the Junior Market top 10 and Jetcon Corporation returned to the TOP10. There were no additions to the Main market TOP10 for the week.
Other notable TOP10 movers this week are; Lasco Distributors that rose 9 percent in closing at $3.28 and Honey Bun up 5 percent to $9.50, but Caribbean Assurance Brokers slipped 8 percent to $2.40 from $2.60 at the close of the previous week. In the Main Market, other than Caribbean Producers, Sygnus and Pan Jam Investment fell 4 percent.
For the week ahead investors should watch for a possible move higher, CPJ that could hit $15 with dwindling supply now on offer below $14.50 when the market closed on Friday. RJR is another worth watching with a limited supply under $3.50 during Friday there is relatively only moderate selling overall, but buying remains tepid.
The top three Main Market stocks, this week with CPJ dropping to number four are Guardian Holdings still in the lead followed by Radio Jamaica that returned in second spot and JMMB Group in the third spot with all projected to gain between 178 and 257 percent from 213 to 253 percent last week.
The Junior Market top three stocks changed a bit during the week, with AMG Packaging leading, followed by Caribbean Assurance Brokers, with Access Financial Services moving from the second spot to the third position. All three can gain between 167 and 240 versus 167 and 238 percent, previously.
This week’s focus: Why Lumber Depot is a stock to watch for the future? After posting outlandish first quarter results that were boosted by inventory profit, the company reported what appear to be normal profit in the second quarter of 5 cents per share and raised the half years earnings to 15 cents. While first quarter revenues grew 16 percent, the second quarter was flat, suggesting that full year results should end up around 25 cents or a little above that. On this basis, the stock may be considered a bit undervalued. With Paul Scott’s Stony Hill Capital Limited taking a controlling interest in it, what could be in it for them. There is good scope for expansion and growth, first within Kingston, Portmore, Spanish Town and nationally. Other factors include the fact that the Musson Group has large holdings of real estate owned directly by the group or indirectly in the investment companies that can purchase materials for repairs or expansion through them.
The average gains projected for the TOP 10 Junior Market stocks slipped from 150 percent last week to 149 percent and Main Market stocks moved from 159 percent to this weeks’ 155 percent.
The Junior Market closed the week, with an average PE of 14.3 based on ICInsider.com’s 2021-22 earnings and is currently well below the target of 20 and the average of 17 at the end of March this year based on 2020 earnings. The TOP 10 stocks trade at a PE of a mere 8.1, with a 42 percent discount to that market’s average.
The Junior Market can gain 40 percent to March next year, based on an average PE of 20 and 19 percent based on an average PE of 17. Seven stocks representing 17 percent of all Junior Market stocks with positive earnings are trading at or above this level, similar to last week, indicating that many others will rise towards the 17 mark in the months ahead.
The average PE for the JSE Main Market is 16.2, some 17 percent less than the PE of 19 at the end of March and 23 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 8, representing a 50 percent discount to the market and well below the potential of 20. A total of 14 stocks or 30 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.
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.

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

Honey Bun in General Accident exits ICTOP10

December 13, 2021 by

General Accident rose 7 percent to close at $6.40 and slipped out of the TOP 10 while Honey Bun jumped into the Junior Market top 10, while Main Market stocks were pretty steady with movements not exceeding 2 percent for the week in a week when Main Market indices closed the week higher than it started with the Junior Market slipping from the start of the week.
Notable TOP10 movers this week are; AMG Packaging rose 9 percent in closing at $2.07 from $1.90 at the previous week’s close and Lumber Depot rose 18 percent to $3.25. Medical Disposables lost 5 percent of its value to close the week at $6 and Caribbean Assurance Brokers dived 13 percent to $2.60.
The top three Main Market stocks remained unchanged at the close of the week, with Guardian Holdings still in the lead, followed by Caribbean Producers and JMMB Group, projected to gain between 213 to 253 percent, as was the case last week.
The Junior Market top three stocks changed a bit during the week, with AMG Packaging leading, followed by Caribbean Assurance Brokers, with Access Financial Services moving from second spot to third position. All three can gain between 167 and 238 versus 162 percent and 268 percent previously.
The average gains projected for the TOP 10 Junior Market stocks moved from 142 percent last week to 150 percent and Main Market stocks moved from 157 percent to this weeks’ 159 percent.
The Junior Market closed the week with an average PE of 14.1 based on ICInsider.com’s 2021-22 earnings and currently well below the target of 20 and the average of 17 at the end of March this year based on 2020 earnings. The TOP 10 stocks trade at a PE of a mere 8.1, with a 42 percent discount to that market’s average PE.
The Junior Market can gain 42 percent to March next year, based on an average PE of 20 and 21 percent based on an average PE of 17. Ten stocks representing 25 percent of all Junior Market stocks with positive earnings are trading at or above this level, down from seven last week, indicating that many others will rise towards the 17 mark in the weeks ahead.
The average PE for the JSE Main Market is 15.8, which is 20 percent less than the PE of 19 at the end of March and 27 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 8, representing a 51 percent discount to the market and well below the potential of 20. A total of 17 stocks or 36 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.
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.

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

Junior Market suffers losses on Friday

December 10, 2021 by

Trading closed on Friday, with the volume of stocks traded declining 54 percent, with the value slipping 50 percent lower than on Thursday at the close of the Jamaica Stock Exchange Junior Market.
Market activity led to 37 securities trading versus 36 on Thursday and ended with 13 rising, 16 declining and eight unchanged. The Junior Market Index declined 14.88 points to close at 3,338.02. The PE Ratio, a measure used to compute appropriate stock values, averages 14.1. The PE ratio of each stock shown in the chart below is based on ICInsider.com earnings forecasts for companies whose financial year ends up to August 2022.
A total of 3,742,069 shares traded for $14,045,897 down from 8,141,189 units at $28,315,428 on Thursday. Lumber Depot led trading with 870,161 shares for 23.3 percent of total volume, followed by Future Energy Source 719,694 units for 19.2 percent of the day’s trade and Honey Bun with 296,852 units for 7.9 percent market share.
Trading averaged 101,137 shares at $379,619 in contrast to 226,144 shares at $786,540 on Thursday and month to date, averaging 634,687 units at $1,870,005, compared to 715,927 units at $2,096,936 on Thursday. November closed with an average of 160,358 units at $581,730.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Access Financial shed 50 cents to end at $19.50 after an exchange of 7,434 shares, AMG Packaging rose 7 cents to $2.07, trading 20,000 stock units, Cargo Handlers increased 93 cents to $7.98 with an exchange of 6,139 stocks. Caribbean Assurance Brokers declined 10 cents to close at $2.60 in trading 76,750 units, Caribbean Cream climbed 30 cents to $5.80 with 500 units changing hands, Caribbean Flavours lost 10 cents in closing at $1.80 after trading 26,852 stocks. Consolidated Bakeries fell 9 cents to $1.26 in switching ownership of 4,429 shares, Dolphin Cove rallied 5 cents to $13.50 119,898 stock units changing hands, Elite Diagnostic gained 15 cents to close at $3, with 16,329 stocks clearing the market. Everything Fresh popped 7 cents to end at $1, with 100,072 stock units crossing the market, General Accident dropped 20 cents to $6.40 with the swapping of 117,475 shares, Honey Bun shed 28 cents in closing at $9.02, with 296,852 units crossing the market. Jetcon Corporation dropped 10 cents to close at 90 cents after exchanging 134,036 stocks, KLE Group fell 33 cents to $1.97 after trading 16,100 shares, Knutsford Express lost 47 cents to $7.50 after trading 4,972 stock units. Limners and Bards advanced 8 cents to $3.50 while exchanging 38,896 units, Medical Disposables declined 45 cents to $6 in trading 10,000 stocks, Paramount Trading dropped 11 cents to close at $1.19 after trading 46,000 units. Stationery and Office Supplies lost 40 cents after ending at $5.60 with an exchange of 11,220 stock units and tTech spiked 48 cents to $4.50 in trading 2,000 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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Junior Market trading picks up

December 9, 2021 by

Investors pumped 31 percent more money into trading on Thursday, but the volume of stocks traded rose by just 18 percent, over trading on Wednesday, resulting in an almost even spread between rising and falling Jamaica Stock Exchange Junior Market stocks.
Thirty-six securities traded up from 31 on Wednesday and ended with 14 rising, 15 declining and seven closing unchanged. At the close, the Junior Market Index dipped 13.55 points to 3,352.90.
The PE Ratio, a measure used to compute appropriate stock values, averages 14.2. The PE ratio of each stock, shown in the chart below, is based on earnings forecasted by ICInsider.com for companies whose financial year ends up to August 2022.
A total of 8,141,189 shares traded for $28,315,428 compared to 6,875,413 units at $21,664,369 on Wednesday. Mailpac Group led trading with 65.5 percent of total volume for 5.34 million shares, followed by  Caribbean Assurance Brokers with 5.4 percent for 437,313 units and Future Energy Source with 5.2 percent with 422,554 units traded.
Trading averaged 226,144 shares at $786,540 in contrast to 221,788 shares at $698,851 on Wednesday and month to date, averaging 715,927 units at $2,096,977, against 801,106 units at $2,324,831 on Wednesday. November closed with an average of 160,358 units at $581,730.
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, AMG Packaging rose 15 cents to $2 with 54,556 shares changing hands, Cargo Handlers gained 5 cents to close at $7.05 in swapping  4,498 units, Caribbean Assurance Brokers advanced 30 cents to end at $2.70 after trading 437,313 stocks. Caribbean Cream fell 34 cents to $5.50 with 2,204 stock units crossing the exchange, Consolidated Bakeries lost 5 cents to settle at $1.35 in exchanging 105,063 units, Dolphin Cove spiked 35 cents to $13.45 with 144,316 stock units clearing the market. Elite Diagnostic shed 20 cents to $2.85 after an exchange of 7,243 stocks, Everything Fresh lost 5 cents to close at 93 cents with a transfer of 12,034 shares, Express Catering rallied 8 cents to $5.75 after an exchange of 193,895 stock units. Fontana picked up 5 cents to finish at $7.25 with the swapping of 111,048 units, General Accident gained 10 cents in closing at $6.60 trading 132,744 stocks, Honey Bun fell 28 cents to $9.30 after exchanging 11,091 shares. iCreate popped 5 cents to close at 80 cents in trading 81,645 stock units, Indies Pharma slipped 5 cents to $3 with the swapping of 3,116 stocks, Iron Rock Insurance gained 7 cents to finish at $3.65 with 27,035 units changing hands. Jamaican Teas fell 10 cents to $3.79 after 66,006 shares cleared the market, Lasco Manufacturing declined 11 cents to $4.75 in exchanging 49,539 stock units, Limners and Bards gained 6 cents to close at $3.42 in switching ownership of 34,991 units. Main Event shed 30 cents to $3.80 in transferring 400 shares and Medical Disposables lost 5 cents to end at $6.45 after 28,061 stocks changed hands.

 

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 continues to consolidate

December 8, 2021 by

Trading picked up on Wednesday, with the volume of stocks traded jumping 164 percent, with the value spiking 150 percent higher than on Tuesday as the market squeezed out modest gains in the index on Wednesday on the Jamaica Stock Exchange Junior Market as the market continues in a consolidation mode.
Just 31 securities traded compared to 34 on Tuesday and ended with 14 rising, 11 declining, and six ending unchanged.
At the close, the Junior Market Index climbed 6.48 points to settle at 3,366.45. The PE Ratio, a measure used to compute appropriate stock values, averages 14.2. The PE ratio of each stock is shown in the chart below, is based on ICInsider.com earnings forecasts for companies with their financial year ending up to August 2022.
Trading ended on Wednesday, with 6,875,413 shares changing hands for $21,664,369, up from 2,607,012 units at $8,672,047 on Tuesday. Mailpac Group led trading with 5.17 million shares accounting for 75.3 percent of total volume, followed by AMG Packaging with 284,383 units for 4.1 percent of the day’s trade and Lumber Depot with 242,672 units for 3.5 percent market share.
Trading on Wednesday averaged 221,788 shares at $698,851 versus 76,677 units at $255,060 on Tuesday and month to date, an average of 801,106 units at $2,324,831, compared to 903,146 units at $2,611,225 on Tuesday. November closed with an average of 160,358 units at $581,730.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, AMG Packaging fell 5 cents to $1.85 in exchanging 284,383 shares, Cargo Handlers shed 98 cents in closing at $7 in an exchange of 4,921 stock units, Caribbean Assurance Brokers dropped 42 cents to close at $2.40 after trading 147,753 stocks. Consolidated Bakeries rose 17 cents to $1.40 with 200,000 units changing hands, Derrimon Trading increased 6 cents to $2.33, with 46,534 units crossing the market, Dolphin Cove climbed 45 cents to $13.10 in exchanging 47,451 shares. Elite Diagnostic rallied 5 cents to close at $3.05 after trading 17,054 stocks, Fontana popped 5 cents in closing at $7.20 while exchanging 13,665 stock units, General Accident climbed $1.10 to $6.50, with 27,392 shares crossing the market. Honey Bun advanced 23 cents to $9.58, with the swapping of 655 stock units, iCreate dropped 10 cents in ending at 75 cents with an exchange of 136,604 units, Lasco Distributors fell 10 cents to end at $3.02 in trading 18,633 stocks. Lumber Depot gained 11 cents to $3.21, with 242,672 shares changing hands, Mailpac Group rose 13 cents to $3.38, with 5,174,467 stocks crossing the exchange, Medical Disposables dropped 20 cents in closing at $6.50 after trading 8,180 stock units. Stationery and Office Supplies declined 65 cents to end at $5.61, with 70 units clearing the market and Tropical Battery shed 7 cents to close at $1.25 in switching ownership of 62,000 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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Juniors claw back recent losses

December 7, 2021 by

Trading closed on Tuesday, with the volume and value of stocks trading down 60 percent, respectively, from Monday levels on the Jamaica Stock Exchange Junior Market. Market activity led to advancing stocks just edged out by decliners. Yet, the market index ended the day with a robust gain that reverses the majority of the losses of the previous three days.
Market activity led to 34 securities trading as was the case on Monday and ended with ten rising, 11 declining and 13, closing unchanged. The Junior Market Index increased 39.13 points to settle at 3,359.97.
The PE Ratio, a measure used to compute appropriate stock values, averages 14.3. The PE ratio of each stock is shown in the chart below, is based on earnings forecasted by  ICInsider.com for companies with their financial year ending up to August 2022.
Trading ended with 2,607,012 shares changing hands for $8,672,047 compared to 6,562,086 units at $21,893,075 on Monday. Lumber Depot led trading with 943,890 shares for 36.2 percent of total volume, followed by Jamaican Teas with 587,549 units for 22.5 percent of the day’s trade and Future Energy Source with 282,965 units for 10.9 percent market share.
Trading averaged 76,677 shares at $255,060 down from 193,003 shares at $643,914 on Monday and trading month to date, ended with an average of 903,146 units at $2,611,225, down from 1,101,032 units at $3,175,499 on Monday. November closed with an average of 160,358 units at $581,730.
Investor’s Choice bid-offer indicator shows five stocks ended, with bids higher than their last selling prices and three with lower offers.
At the close, CAC 2000 rose 71 cents to $7.81 while exchanging 500 shares, Caribbean Assurance Brokers spiked 21 cents to $2.82 in exchanging 32,726 stock units, Caribbean Cream gained 4 cents in closing at $5.84 after trading 1,467 stocks. Consolidated Bakeries dropped 27 cents to close at $1.23, trading 20,000 units, Dolphin Cove increased 15 cents to end at $12.65, with 24,374 units clearing the market, Elite Diagnostic lost 10 cents in ending at $3 in an exchange of 10,000 stock units. Fontana shed 9 cents to end at $7.15, with 41,534 stocks changing hands, General Accident declined 73 cents to $5.40, with 12,153 shares crossing the exchange, Honey Bun fell 35 cents to $9.35 after 6,160 shares changed hands. Jamaican Teas advanced 22 cents to close at $3.89 after exchanging 587,549 units. Lasco Financial shed 6 cents to $3.06, with 16,085 stock units crossing the market. Lasco Manufacturing popped 6 cents to end at $4.86 after trading 60,072 stocks. Lumber Depot lost 22 cents to close at $3.10 with an exchange of 943,890 shares, Mailpac Group rallied 13 cents in closing at $3.25, with 225,230 stocks crossing the exchange, Paramount Trading climbed 5 cents to $1.30 with the swapping of 5,000 units and Stationery and Office Supplies spiked 66 cents to close at $6.26 in switching ownership of 693 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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

More slipping for JSE Junior Market

December 6, 2021 by

Trading closed on Monday, with the volume of stocks declining 95 percent and the value 94 percent less than on Friday on the Jamaica Stock Exchange Junior Market, but the day ended with more stock prices rising than declining.
Market activity led to 34 securities trading as was the case on Friday and ended with 15 rising, 11 declining and eight, closing unchanged.
The Junior Market Index suffered another decline at the close, falling 16.63 points to 3,320.84.
The PE Ratio, a measure used to compute appropriate stock values, averages 14.3. The PE ratio of each stock is shown in the chart below, is based on earnings forecasted by ICInsider.com for companies with their financial year ending up to August 2022.
Overall a total of 6,562,086 shares traded for $21,893,075 down sharply from 143,917,891 shares at $397,668,745 on Friday. Lumber Depot, for a second day, led trading with 4.08 million shares for 62.2 percent of total volume, followed by Caribbean Assurance Brokers with 717,376 units for 10.9 percent of the day’s trade and Mailpac Group with 290,554 units and 4.4 percent market share.
Trading averaged 193,003 shares at $643,914 in contrast to 4,232,879 shares at $11,695,894 on Friday with the month to date, averaging 1,101,032 units at $3,175,448 down from 1,386,894 units at $3,972,320 on Friday. November closed with an average of 160,358 units at $581,730.
Investor’s Choice bid-offer indicator shows six stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Access Financial popped 50 cents to $20 in swapping 3 shares, Blue Power dropped 33 cents to $3.30 after trading 9,438 stock units, Cargo Handlers rose 97 cents to end at $7.98, with an exchange of one share. Caribbean Assurance Brokers fell 37 cents to $2.61 in trading 717,376 stocks, Caribbean Cream increased 10 cents to close at $5.80 with an exchange of 710 shares, Consolidated Bakeries rallied 5 cents to $1.50 after clearing the market with 10,000 stocks. Dolphin Cove fell 50 cents to $12.50 in an exchange of 89,323 stock units, Elite Diagnostic climbed 13 cents in closing at $3.10 in switching ownership of 10,785 units, Express Catering shed 5 cents to close at $5.65 while exchanging 22,069 stock units. Fontana declined 6 cents to end at $7.24, trading 117,190 units, General Accident gained 13 cents to close at $6.13, trading 1,130 shares, Honey Bun popped 5 cents to end at $9.70 in exchanging 21,564 stocks. iCreate fell 5 cents in closing at 86 cents, with 100,948 stocks changing hands, Lasco Distributors spiked 5 cents to $3.10, with 60,310 stock units crossing the market, Limners and Bards lost 18 cents in ending at $3.37 after trading 136,434 units. Lumber Depot increased 57 cents in closing at $3.32 in an exchange of 4,083,632 shares, Mailpac Group declined 32 cents to $3.12 after exchanging 290,554 shares and Medical Disposables advanced 40 cents to end at $6.70, trading 19,149 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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
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