The Jamaica Stock Exchange Main Market closed trading on Friday lower with modest trading activity characterized trading, but the Junior Market and JSE USD Markets pushed higher to close the week positively.
At close, the JSE Combined Market Index dropped 2,613.54 points to close at 327,354.97, while the All Jamaican Composite Index shed 1,366.63 points to end at 347,733.07, the JSE Main Index lost 3,039.14 points to settle at 312,866.71. The Junior Market Index popped 25.76 points to end at 3,873.18 and the JSE USD Market Index rallied 1.94 points to 230.99.
Investors traded 8,797,366 shares in all three markets, down from 10,303,204 stock units on Thursday. The value of stocks traded plunged on the Junior and Main markets to just $41.29 million from $114.36 million on Thursday. The JSE USD market closed after 50,369 shares were traded for US$10,547 compared to 191,624 units at US$7,484 on Friday.
In the preference segment, Eppley 7.50% preference share declined 90 cents to end at $5.07 and 138 Student Living preference share shed $17.73 and ended at $89.27.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 22.6 on 2022-23 earnings and 11.1 times those for 2023-24 at the close of trading. 
ICInsider.com PE ratio chart and the more detailed daily charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
Investors need pertinent information to successfully navigate numerous 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 decisions when investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and place them on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The net asset value of each company is reported as a guide to quickly assess the value of stocks based on this measure. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends paid or payable and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume pertaining to the highest bid and the lowest offer for each company.
Big fall for JSE Junior Market
Trading closed on the Junior Market of the Jamaica Stock Exchange Thursday, with the Market Index declining 45.28 points to 3,847.42 following a 42 percent drop in the volume of stocks traded with a 35 percent lower value than Wednesday after trading of 42 securities, 
similar to trading on Wednesday and ended with declining and rising stocks almost equal in numbers, with 17 rising, 18 declining and seven closing unchanged.
Investors traded 4,512,426 shares for $11,342,192 compared with 7,788,092 units at $17,379,281 on Wednesday.
Trading averaged 107,439 shares at $270,052 compared to 185,431 shares at $413,792 on Wednesday, with trading for the month to date averaging 146,435 units at $341,922, down from October with an average of 361,392 units at $863,984.
Future Energy led trading with 1.15 million shares for 25.5 percent of total volume, followed by Regency Petroleum with 396,267 units for 8.8 percent of the day’s trade and Derrimon Trading with 376,475 units for 8.3 percent market share.
The Junior Market ended trading with an average PE Ratio of 10.8, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Access Financial rose $2 to end at $27.50, with 30 shares changing hands, Blue Power dropped 23 cents in closing at $2.70 with a transfer of 225 stocks, CAC 2000 climbed 85 cents to $4.90 with stakeholders exchanging 100 shares. Cargo Handlers fell $1.40 to close at $13 after a transfer of 62 stock units, Caribbean Cream popped 53 cents to end at $4.10 with investors swapping 1,528 shares, Caribbean Flavours rallied 11 cents to $1.40 in an exchange of 16,568 units. Dolphin Cove dipped 40 cents to end at $15.60 with traders dealing in 100 stocks, Fontana lost 10 cents in closing at $11.20 in switching ownership of 22,693 stock units, Fosrich declined 12 cents and ended at $2.31, with 128,266 shares crossing the market. 
iCreate increased 9 cents to close at 69 cents after investors ended trading 15,757 stock units, Knutsford Express gained 97 cents to close at $12.29, with 1,566 stocks crossing the market, Lasco Distributors shed 10 cents to close at $4.20 after trading 152,100 units. Lasco Manufacturing rose 15 cents to $4.70, with 4,762 shares clearing the market, Lumber Depot skidded 14 cents in closing at $2.68 with an exchange of 18,105 stocks, Main Event fell 10 cents and ended at $14.90 after 3,985 units passed through the market. 
MFS Capital Partners popped 37 cents to $2.37 with investors transferring 98,837 stock units and Paramount Trading increased 30 cents in closing at $1.70 after an exchange of 500 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE Main Market rises, Junior Market drops
The Jamaica Stock Exchange Main Market inched higher in trading on Thursday and the JSE USD Markets popped marginally higher but the Junior Market suffered a sold fall to close out the day, with a drop in volume of stocks traded but at a higher value than on Wednesday.
At close, the JSE Combined Market Index rose 720.66 points to 329,968.51, the All Jamaican Composite Index popped 370.00 points to 349,099.70, the JSE Main Index climbed 1,202.56 points to close at 315,905.85. The Junior Market Index dropped 45.28 points to close at 3,847.42 and the JSE USD Market Index inched 0.03 points higher to end at 229.05.
Investors traded 10,303,204 shares in all markets, down from 16,178,017 stock units on Wednesday. The value of stocks traded rose on the Junior and Main markets to $114.36 million from $106.3 million on Wednesday. The JSE USD market closed after 191,624 shares were traded for US$7,484 compared to 73,498 units at US$5,221 on Wednesday.
In the preference segment, Jamaica Public Service 7% climbed $10 to end at $2,900.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 22.5 on 2022-23 earnings and 11.1 times those for 2023-24 at the close of trading. 
ICInsider.com PE ratio chart and the more detailed daily charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
Investors require pertinent information to successfully navigate 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 decisions when investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and place them on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The net asset value of each company is reported as a guide to quickly assess the value of stocks based on this measure. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends paid or payable and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume pertaining to the highest bid and the lowest offer for each company.
Junior Market rises with falling prices dominant
Trading activity declined markedly at the close of the Junior Market of the Jamaica Stock Exchange on Wednesday, with the volume of stocks traded falling 78 percent and the value 82 percent lower than Tuesday, with trading in 42 securities compared with 44 on Tuesday and ended with 14 rising, 21 declining and seven closing unchanged.
Investors traded 7,788,092 shares for $17,379,281, down from 35,689,862 units at $96,708,978 on Tuesday.
Trading averaged 185,431 shares at $413,792, compared with 811,133 shares at $2,197,931 on Tuesday with October closing with an average of 361,392 units at $863,984.
EduFocal dominated trading with 2.98 million shares for 38.2 percent of total volume, followed by Dolla Financial with 1.44 million units for 18.5 percent of the day’s trade and MFS Capital Partners with 526,000 units for 6.8 percent market share.
At the close, the Junior Market Index climbed 29.83 points to conclude trading at 3,892.70.
The Junior Market ended trading with an average PE Ratio of 10.7, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Access Financial increased 50 cents and ended at $25.50 after an exchanging of 3,170 stock units, AMG Packaging lost 12 cents to $2.27 close as 392,855 shares changed hands, Caribbean Assurance Brokers climbed 21 cents to close at $3.10 with stakeholders exchanging 41,343 units. Caribbean Flavours fell 14 cents in closing at $1.29 after a transfer of 18,989 stocks, EduFocal popped 10 cents to end at $2.25 with traders dealing in 2,977,397 shares, Everything Fresh dropped 31 cents in closing at $1.49 after an exchange of 3,889 stock units. Fontana shed 30 cents to close at $11.30 after trading 71,687 stocks, Future Energy declined 9 cents to close at $3.72 while 62,991 units were traded, GWest Corporation gained 8 cents and ended at 98 cents in switching ownership of 25,790 shares. Honey Bun rose 20 cents to end at $6.46, with 10,500 units crossing the exchange, iCreate dipped 10 cents to 60 cents with a transfer of 118,653 stocks, Indies Pharma skidded 24 cents and ended at $2.90 with investors dealing in 6,289 stock units. 
Iron Rock Insurance advanced 17 cents to close at $2.19 in an exchange of 3 shares, Jetcon Corporation fell 12 cents to end at 88 cents after 82,000 stocks crossed the market, JFP Ltd shed 15 cents in closing at $1.46 in trading 250,400 units. Knutsford Express declined $1.42 to $11.32 with shareholders swapping 8,811 stock units, Lasco Financial rallied 16 cents to $2.06 in an exchange of 338,329 shares, Lasco Manufacturing lost 37 cents and ended at $4.55, with 8,493 stocks clearing the market. Main Event increased $1.05 to end at $15 with an exchange of 14,906 units, Medical Disposables climbed 60 cents to close at $3.50, with 1,000 stock units changing hands, Paramount Trading popped 13 cents to $1.40 after 600 shares passed through the market. Regency Petroleum skidded 15 cents to end at $2.30 as investors exchanged 47,740 stock units, 
Spur Tree Spices dropped 26 cents in closing at $2.19, with 47,735 units crossing the market and tTech gaining 30 cents and ended at $2.35 with investors transferring five stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE Main Market drops, Juniors & JSEUSD markets rise
The Jamaica Stock Exchange Main Market closed to start the new month, with the leading indices dropping in trading on Wednesday. In contrast, JSE Junior and JSE USD Markets closed higher to start November positively, with a drop in the volume and value of stocks traded.
At close, the JSE Combined Market Index dived 3,567.53 points to close at 329,247.85, while the All Jamaican Composite Index dropped 2,746.69 points to 348,729.70, the JSE Main Index sank 4,097.53 points to end trading at 314,703.29. The Junior Market Index rose 29.83 points to close at 3,892.70 and the JSE USD Market Index rallied 2.94 points to end at 229.02.
Investors traded only 16,178,017 shares in all three markets, down from 43,456,356 stock units on Tuesday. The value of stocks traded fell on the Junior and Main markets to $106.3 million from $162.09 million on Tuesday. The JSE USD market closed after 73,498 shares were traded for US$5,221 compared to 296,100 units at US$34,738 on Tuesday.
In the preference segment, Jamaica Public Service 7% gained $6.46 in closing at $48.46.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 22.4 on 2022-23 earnings and 11.1 times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
Investors need pertinent information to navigate numerous investment options in the local stock market successfully. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational decisions when investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and place them on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The net asset value of each company is reported as a guide to quickly assess the value of stocks based on this measure. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends paid or payable and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume pertaining to the highest bid and the lowest offer for each company.
Buoyant month end trading for Junior Market
The Junior Market of the Jamaica Stock Exchange closed on Tuesday, with the market closing out October lower than September and ended market activity with the volume of stocks traded declining 20 percent and the value 32 percent lower than on Monday with trading of 44 securities compared with 45 on Monday and ended with prices of 22 rising, 14 declining and eight closing unchanged.
Investors traded 35,689,862 shares for $96,708,978, compared to 44,475,233 units at $142,291,683 on Monday.
Trading averaged 811,133 shares at $2,197,931 versus 988,339 stock units at $3,162,037 on Monday. Trading for the month to date averages 361,392 stocks at $863,984, up from 338,084 stocks at $794,851 on the previous day and well over September with an average of 220,239 units at $459,425.
Future Energy dominated trading, accounting for 42.2 percent of total volume with 15.05 million shares, followed by Indies Pharma with 6.33 million units for 17.7 percent of the day’s trade, while ONE on ONE Educational chipped in with 3.11 million units for 8.7 percent market share, Regency Petroleum ended with 2.75 million units for 7.7 percent the market, JFP Ltd with 1.93 million units for 5.4 percent stocks traded and Image Plus with 1.17 million units for 3.3 percent of total volume.
At the close, the Junior Market Index popped 2.26 points to finish at 3,862.87.
The Junior Market ended trading with an average PE Ratio of 10.9, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, AMG Packaging declined 9 cents to close at $2.39 after an exchange of 357 units, Blue Power gained 22 cents to close at $2.93, with 17,164 stocks clearing the market, Cargo Handlers rose 40 cents and ended at $14.40 in an exchange of 675 shares. Caribbean Assurance Brokers rallied 32 cents to end at $2.89 after 4,034 stock units passed through the market, Caribbean Flavours increased 8 cents in closing at $1.43 with investors swapping 126 shares, Consolidated Bakeries popped 31 cents to $2.36, with 194 units crossing the market. Dolphin Cove fell 20 cents to close at $16 with traders dealing in 8,026 stocks, EduFocal dropped 20 cents to end at $2.15 in switching ownership of 415,049 stock units, Everything Fresh advanced 32 cents in closing at $1.80 with investors transferring 249,251 shares. 
Express Catering lost 20 cents and ended at $4.30, with 25,000 stocks crossing the market, Fontana climbed 12 cents to $11.60 after investors exchanged 88,981 units, Fosrich increased 8 cents and ended at $2.48 after a transfer of 174,724 stock units. Indies Pharma climbed 19 cents to end at $3.14 while exchanging 6,330,640 shares, ISP Finance rose $1.03 in closing at $31.50 with investors dealing in 53 stocks, JFP Ltd rallied 11 cents to close at $1.61 after an exchange of 1,925,990 units. Knutsford Express popped 74 cents to $12.74, with 84,156 stock units changing hands, Mailpac Group gained 8 cents and ended at $2.30 with stakeholders exchanging 1,084,541 shares, MFS Capital Partners skidded 11 cents to end at $2 in trading 163,542 units. Paramount Trading shed 43 cents in closing at $1.27, with 24,943 stocks crossing the exchange, 
Regency Petroleum advanced 30 cents to close at $2.45 with a transfer of 2,754,769 stock units and Spur Tree Spices rose 25 cents to $2.45 and closed after 874,104 shares were traded.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Sizable gains for JSE Main Market on Tuesday
The Jamaica Stock Exchange Main market closed trading on Tuesday and October with big indices rally and JSE Junior and JSE USD Markets bounced at the close in ending higher than on Monday, with increased volume and value of stocks trading, with all Market Indices closing lower than the end of September.
At close, the JSE Combined Market Index popped 4,618.54 points to close at 332,815.38, the All Jamaican Composite Index surged 4,665.94 points to 351,476.39, the JSE Main Index rallied 4,914.30 points to end October at 318,800.82. The Junior Market Index rose 2.26 points to close at 3,862.87 and the JSE USD Market Index climbed 12.75 points to close out October at 226.08.
The significant increase in the Main Market indices was due to big price movements in Massy Holdings, up $7.93, followed by Seprod, with a gain of $7.50, Margaritaville with a rise of $2.47 Caribbean Cement $1.99 and Wisynco up $1.05.
Investors traded 43,456,356 shares in all three markets, down from 50,369,942 stock units on Monday. The value of stocks traded rose on the Junior and Main markets to $162.09 million from $158.25 million on Monday. The JSE USD market closed after 296,100 shares were sold for US$34,738 compared to 131,600 units at US$3,492 on Monday.
In the preference segment, Jamaica Public Service 7% skidded $3.22 to $42 and Productive Business Solutions 9.75% preference share dropped $1 to close at $122.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 22.5 on 2022-23 earnings and 11.2 times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
Investors need pertinent information to successfully navigate numerous 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 decisions when investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and place them on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The net asset value of each company is reported as a guide to quickly assess the value of stocks based on this measure. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends paid or payable and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume pertaining to the highest bid and the lowest offer for each company.
Trading jumps on Junior Market
Trading jumped sharply on the Junior Market of the Jamaica Stock Exchange on Monday, with a 43 percent climb in the volume of stocks traded and the value jumping 156 percent more than Friday after trading took place in 45 securities compared with 43 on Friday and ended with prices of 15 rising, 20 declining and 10 closing unchanged, but the Investor’s Choice bid-offer indicator closed positive at the close suggesting an up day at the start of trading on Tuesday that closes the month and could benefit from the usual end of month rally.
Investors traded 44,475,233 shares for $142,291,683 up from 31,163,597 units at $55,490,400 on Friday as Future Energy led trading with 40.07 million shares for 90.1 percent of total volume, followed by EduFocal with 1.77 million units for 4 percent of the day’s trade and One Great Studio with 758,857 units for 1.7 percent market share.
Trading averaged 988,339 shares at $3,162,037, compared with 724,735 shares at $1,290,474 on Friday, with the month to date, averaging 338,084 units at $794,851 down from 301,689 stock units at $662,359 on the previous trading day. Trading in September closed with an average of 220,239 units at $459,425.
At the close, the Junior Market Index skidded 60.10 points to 3,860.61.
The Junior Market ended trading with an average PE Ratio of 10.7, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, AMG Packaging advanced 12 cents to close at $2.48, after just 350 stocks passed through the market, CAC 2000 rose 10 cents to $4.10 with shareholders swapping 1,500 units, Cargo Handlers dipped 40 cents to end at $14, with 34 shares clearing the market, Caribbean Assurance Brokers lost 32 cents in closing at $2.57 in an exchange of 3,270 stock units. Caribbean Cream dropped 52 cents and ended at $3.58 with traders dealing in 1,355 shares, Caribbean Flavours fell 8 cents to $1.35 after a transfer of 4,044 stocks, Dolphin Cove rallied 10 cents and ended at $16.20 in trading 477 units, Everything Fresh skidded 12 cents to close at $1.48 after an exchange of 6,144 stock units. Fontana popped 32 cents in closing at $11.48 with a transfer of 26,375 shares, Fosrich shed 10 cents to end at $2.40 and closed with an exchange of 66,265 stocks, Honey Bun declined 20 cents in closing at $6.26 after 757 units changed hands, iCreate shed 11 cents to close at 65 cents, with investors dealing in 53,882 stock units. 
Iron Rock Insurance dropped 18 cents to $2.02 with investors trading 1,922 shares, ISP Finance climbed $3.69 and ended at $30.47 in switching ownership of 29 stock units, Jamaican Teas increased 8 cents to end at $2.28, with 10,122 units changing hands, Jetcon Corporation gained 11 cents to end at $1.01 with an exchange of 110 stocks. Lasco Financial lost 11 cents and ended at $1.89 in trading 5,755 shares, Lasco Manufacturing dipped 8 cents to close at $4.92 with 52,769 stocks crossing the exchange, Limners and Bards fell 19 cents in closing at $1.79 with investors transferring 27,219 units, Mailpac Group skidded 8 cents to end at $2.22 after an exchange of 121,425 stock units. Main Event popped 20 cents to $13.95, with 34,275 shares crossing the market, Medical Disposables declined 85 cents and ended at $2.90 with stakeholders exchanging 17,634 units,
Regency Petroleum lost 8 cents to end at $2.15, with 66,594 stocks crossing the market and tTech increased 18 cents in closing at $2.05 as investors exchanged one stock unit.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Fall for all JSE Markets on Monday
Trading on the Jamaica Stock Exchange on Monday jumped sharply over Friday’s levels as the Junior Market activity dominated with trading of 44,475,233 shares for $142,291,683 and overshadowing trading in the JSE Main Market, but the markets ended trading with the JSE USD and the Junior Market index plunging and the JSE Market index slipping to close out the day.
At close, the JSE Combined Market Index dropped 1,952.40 points to 328,196.84, while the All Jamaican Composite Index slipped 9.86 points to end at 346,810.45, the JSE Main Index dropped 1,512.64 points to 313,886.52. The Junior Market Index dived 60.10 points to 3,860.61 and the JSE USD Market Index declined 12.69 points to conclude trading at 213.33.
Investors traded 50,369,942 shares in all three markets, up from 36,643,282 stock units on Friday. The value of stocks traded rose on the Junior and Main markets to $158.25 million from $87 million on Friday. The JSE USD market closed after 131,600 shares were traded for US$3,492 compared to 31,673 units at US$7,572 on Friday.
In the preference segment, Jamaica Public Service 7% shed $4.68 to close at $45.22, 138 Student Living preference share advanced $12 and ended at $107 and Productive Business Solutions 9.75% preference share dipped $2 in closing at $123.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 22.7 on 2022-23 earnings and 11.1 times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
Investors need pertinent information to successfully navigate numerous 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 decisions when investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so.
This approach helps to remove emotions from investment decisions and place them on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends paid or payable and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume pertaining to the highest bid and the lowest offer for each company.
More changes for ICTOP10
During the past week, the ICTOP10 Main Market stocks closed, with losing stocks dominating and rising stocks outnumbering declining ones in the Junior Market, following gains in both market indices. During the week, the JSE Main Market Index recovered all of the 3,385 points drop of the previous week by adding 3,900 points, but the All Jamaica Composite Index rose by 600 points and the Junior Market rose a mere 31 points.
The above set the stage for ICTOP10 Junior Market stocks to post five rising stocks to two that declined, while the ICTOP10 Main Market recorded five modest gains and four losses.
Price movements in the market resulted in two new TOP10 listings for the Junior Market and one for the Main Market. Lasco Manufacturing and Consolidated Bakeries dropped out of the Junior Market listing and Caribbean Cement fell out of the Main Market, resulting from a small price appreciation and re-evaluation of earnings per share following the release of nine months results, with ICInsider.com projected earnings now at $7. However, the stock still has the potential to go higher, with the current PE at just 7 times 2023 earnings compared to an average of 12 for the market.
Returning to the TOP 10 are Junior Market listed Paramount Trading and AMG Packaging. In contrast, Scotia Group returns to the TOP 10 Main Market listing, with the price dropping from $34.45 at the end of the previous week to $33.55 this past week. AMG returns, following the release of the full year’s results, show major improvement in direct operating cost with a solid increase in gross profit margin in the August quarter, which augurs well for earnings for the new fiscal year starting September, accordingly, I
CInsider.com upgraded earnings to $0.40 per share for the current year and that pushed the stock to 5th place on the TOP 10 list. Paramount Trading returns with a depressed price and gains by the two stocks dropping out of the listing.
Everything Fresh led the Junior Market listing with a rise of 14 percent to $1.60, followed by Lasco Manufacturing with a 10 percent climb and Elite Diagnostic with 6 percent to $1.88. Just two stocks fell with losses of just one and three percent. The Main Market closed the week with Caribbean Producers rising 4 percent to $9.50. Margaritaville fell 14 percent to $14.05, Key Insurance dropped six percent to $2.50 and General Accident with a four percent decline to $5.45.
The average PE for the JSE Main Market ICTOP 10 stands at 4.7, well below the market average of 12.1. The Main Market ICTOP10 is projected to gain an average of 359 percent by May 2024, based on 2023 forecasted earnings.
An indication of where stock prices could be by May 2024 can be seen from stocks with the highest values in the Main and Junior Markets.
In the Main Market ICTOP 10, a total of 15 of the most highly valued stocks representing 31 percent of the Main Market are priced at a PE of 15 to 109, with an average of 30 and 19 excluding the highest PE ratios, and a PE of 23 for the top half and 16 excluding the stocks with overweight valuations.
The PE of the Junior Market TOP10 sits at 5.9, just over half of the market, with an average of 10.8. There are 11 stocks, or 23 percent of the market, with PEs from 15 to 25, averaging 18.6, well above the market’s average. The top half of the market has an average PE of 15, possibly the lowest fair value for Junior Market stocks currently, with the market projected to rise by 244 percent by May 2024.
ICTOP10 focuses on likely yearly winners. Accordingly, the list includes some of the best companies in the market, but this is only sometimes so. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks will likely deliver the best returns up to the end of May 2024 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.