Junior Market stocks put in an outstanding performance ranging from 13 to 38 percent, with declines being far lower, with the top losers suffering a ten percent fall after five stocks slipped on the ICOP10 and three stocks recorded strong gains. The Main Market TOP10 was far less robust, with gainers hitting 13 percent at the top and losers 6 percent and less.
Margaritaville Turks could land big gains.
With the healthy price movements, three new additions to the TOP10 lists are added this week. Margaritaville is now topping the Main Market Top 10, with potential gains of 820 percent as the company made a major leap forward in fortunes, following the rebound in tourism traffic in the region and Caribbean Producers fell out of the TOP10 with a 4 percent price rise for the week. Image Plus Consultants and Iron Rock Insurance return to the Junior Market ICTOP10 as Dolla Financial and Elite Diagnostics enjoyed considerable price recoveries and dropped out.
For the week, five Junior Market TOP10 stocks rose and five declined, while the Main Market ended with four rising and only two falling.
In the Junior Market, Dolla Financial was the star performer as it recovered from a 9 percent drop last to $2.08 to post a stunning 38 percent jump to $2.88, following news that Supreme Ventures acquired 15 percent of the company, but before a report that the CEO Kadeen Mairs resigned. Elite Diagnostics jumped 29 percent to $2 after falling the previous week to $1.55 and Dolphin Cove rose 13 percent to $16.88, also rising are iCreate and OneonOne, with gains of 5 percent to $1.05, respectively. Falling stocks include Everything Fresh, down 10 percent to $1.37, Caribbean Cream, followed by shedding 8 percent to $4.15, General Accident, fell 6 percent to $4.70 and Caribbean Assurance Brokers, lost 4 percent to end at $2.99.
In the Main Market, Caribbean Cement climbed 13 percent to $57.60, but that was before the company released six months’ results, with profit ending at $2.87 following a blowout second quarter with earnings of $2.53 per share and now seems on target for $8 for the year. Sygnus Credit Investments rose nine percent to $12.12, but JMMB Group fell six percent to $27.20 and Guardian Holdings slipped 4 percent to $438.
Elsewhere in the market, Lasco Distributors and Lasco Manufacturing released first quarter results, with a rise in profits for both. Pretax profit at Lasco Distributors jumped a robust 57 percent to $602 million and post-tax climbed a solid 38 percent to $448 million and resulted in ICInsider.com upgrading earnings for the full year to 65 cents from 55 cents previously. Lasco Manufacturing’s performance was more subdued, with pretax profit rising 28 percent and aftertax 27 percent to $721 million and $526 million, respectively and are in line with ICInsider.com’s full year’s forecast of 70 cents per share. Both companies are just outside the ICTOP10 but are ICBUYRATED with good upside potential.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.3, well below the market average of 13.1. The Main Market TOP10 is projected to have an average of 326 percent, to May 2024, based on 2023 forecasted earnings.
The 14 most highly valued Main Market stocks representing 30 percent of the Main Market are priced at a PE of 15 to 95, with an average of 30 and 21 excluding the highest PE ratios, with a PE of 23 for the top half and 18 excluding the stocks with the highest PEs.
The Junior Market Top 10 PE sits at 5.8 compared with the market at 11. There are 11 stocks representing 23 percent of the market, with PEs from 15 to 39, averaging 20, well above the market’s average. The top half of the market has an average PE of 16, possibly the lowest fair value for Junior Market stocks currently, and projected to rise by 248 percent to May 2024.
The divergence between the average PE ratio of the Main and Junior Markets and the overall market valuation are important indicators of the level of likely gains for ICTOP10 stocks.
Investors continue to nibble away at a number of stocks and gradually reducing the supply of several of them that are attractively priced as the market moves through the summer months, the start of the stock market year when new results will be coming to the market for investors to assess and determine what to do.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but not always. 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 are likely to 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, resulting 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.
Investors traded 11,568,133 shares for $31,577,030 versus 32,557,136 units at $108,447,140 on Thursday.
Investor’s Choice bid-offer indicator shows five stocks ending with bids higher than their last selling prices and one with a lower offer. 
General Accident declined 24 cents to end at $4.70 after 11,063 stock units passed the market, Honey Bun added 11 cents to close at $6.50 in trading 8,136 shares. Indies Pharma increased 11 cents and ended at $3.19 while exchanging 1,440 units, ISP Finance popped $3.99 in closing at $24.99 after an exchange of 3,750 stocks, Knutsford Express fell 72 cents to end at $10.96 with a transfer of 16,900 stock units, Lasco Manufacturing rallied 5 cents and ended at $4.75 in switching ownership of 28,399 shares. Regency Petroleum dropped 7 cents to close at $2.68, with 36,229 units crossing the exchange, Spur Tree Spices rose 30 cents in closing at $2.40 with shareholders swapping 7,280,447 stock units, Stationery and Office Supplies shed $1.69 to $25.15, with 174,402 shares crossing the market ahead of the 9 for one stock split that will result in the stocks trading ex-split on Monday coming, 
that should result in a sharp jump in the stock price and Tropical Battery advanced 9 cents to $2.11, with stakeholders exchanging 136,599 stocks.
Investors traded 32,557,136 shares at $108,447,140 versus 12,676,118 units at $35,697,055 on Wednesday.
The PE Ratio, a measure used to compute appropriate stock values, averages 10.9. The PE ratios of Junior Market stocks are calculated using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Dolphin Cove rallied 55 cents to end at $16.60 while exchanging 1,933 stock units, Everything Fresh lost 10 cents to close at $1.37 with investors transferring 100 shares, Fontana rose 11 cents in closing at $11, with 62,075 stock units crossing the market, Image Plus Consultants advanced 12 cents and ended at $2.37 after an exchange of 23,227 stock units, Iron Rock Insurance increased 10 cents to $2.10 after a transfer of 107 stocks, Knutsford Express gained 8 cents in closing at $11.68 with an exchange of 15 shares, Lasco Manufacturing dipped 15 cents to close at $4.70 in an exchange of 10,460 units, Main Event declined 98 cents to end at $14.50 in trading 8,256 shares, 
Spur Tree Spices popped 10 cents to $2.10 with shareholders swapping 5,913,892 stocks and Stationery and Office Supplies dipped 66 cents to $26.84 after 109,557 units changed hands.
At the close, the JSE Combined Market Index rose 2,679.41 points to 342,890.87, the All Jamaican Composite Index popped 2,392.06 points to 365,690.74, the JSE Main Index surged 2,674.68 points to finish at 328,877.60, while the Junior Market Index climbed 20.08 points to 3,935.55 and the JSE USD Market Index fell 5.2 points to end at 245.27.
Wednesday. The value of stocks trading in the Junior and Main Markets jumped to $245.97 million from $119.29 million on Wednesday. Trading on the JSE USD market ended with investors exchanging 1,106,224 shares for US$42,488, down from 88,156 units at US$3,695 on Wednesday.
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.
Investors traded 12,676,118 shares at $35,697,055, compared to 10,678,936 units at $24,677,448 on Tuesday.
The PE ratios of Junior Market stocks are calculated using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Fontana lost 11 cents in closing at $10.89 after a transfer of 29,968 units, Future Energy Source shed 21 cents to close at $3.74, with investors exchanging 199,795 stocks, Honey Bun increased 39 cents to end at $6.45 as 150,912 shares passed through the market. Indies Pharma dropped 13 cents to $3.06 after an exchange of 25,807 units, KLE Group fell 19 cents to $1.49 with investors transferring 6,558 stocks, Knutsford Express popped 95 cents in closing at $11.60 after an exchange of 5,309 shares, Main Event rallied 91 cents to close at $15.48 in switching ownership of 33,569 units. Medical Disposables lost 30 cents to close at $4, with 37,159 stocks crossing the market, MFS Capital Partners advanced 15 cents to $2.55, with an exchange of 468,075 units, Paramount Trading gained 10 cents to finish trading at $1.90 while exchanging 200 shares. 
Stationery and Office Supplies shed 48 cents and ended at $27.50 in an exchange of 107,689 stock units and Tropical Battery dropped 9 cents to $1.95 and closed with 433,555 units changing hands.
At the close, the JSE Combined Market Index fell 1,691.96 points to close at 340,211.46, the All Jamaican Composite Index dropped 2,254.10 points to 363,298.68, the JSE Main Index declined 1,843.86 points to end at 326,202.92, the Junior Market Index climbed 3.11 points to 3,915.47 and the JSE USD Market Index rose 2.49 points to end at 250.51.
The market’s PE ratio, the most popular measure used to determine the value of stocks ended at 18.1 on 2022-23 earnings and 12.2 times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
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.
Investors traded 10,678,936 shares at $24,677,448, up from 3,833,833 units for $12,740,526 on Monday.
The PE Ratio, a measure used in computing appropriate stock values, averages 11. The PE ratios of Junior Market stocks are calculated using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Fontana gained 8 cents to end at $11 with a transfer of 120,687 shares. Future Energy Source advanced 15 cents to $3.95, with 147,491 stocks being traded, Honey Bun declined 43 cents to close at $6.06, with 37,303 shares crossing the exchange, Image Plus Consultants lost 18 cents and ended at $2.30 in trading 154,518 units, Iron Rock Insurance dipped 50 cents in closing at $2 in an exchange of 24,721 shares. Medical Disposables shed 76 cents to end at $4.30 after an exchange of 15,440 stock units, MFS Capital Partners dipped 18 cents to close at $2.40 with 143,773 shares crossing the market, 
Stationery and Office Supplies advanced 10 cents to $27.98 with an exchange of 92,464 stocks and Tropical Battery increased 19 cents in closing at $2.04 after trading 323,285 units.
At the close, the JSE Combined Market Index dropped 1,264.67 points to 341,903.42, the All Jamaican Composite Index rallied 114.21 points to 365,552.78, the JSE Main Index fell 1,300.23 points to 328,046.78, while the Junior Market Index slipped 5.61 points to 3,912.36 and the JSE USD Market Index added 3.25 points to settle at 248.02.
The market’s PE ratio, the most popular measure used to determine the value of stocks ended at 18.2 on 2022-23 earnings and 12.2 times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
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.
Investors traded 3,833,833 shares for $12,740,526, down from 9,067,320 units at $24,359,252 on Friday.
At the close, Access Financial declined 60 cents to end at $24.40, with 54 shares crossing the market, AMG Packaging fell 16 cents to $2.50 with a transfer of 187 stocks, Cargo Handlers rose $3 to $18, with 1,000 stock units changing hands, Caribbean Flavours dipped 11 cents in closing at $1.23 in switching ownership of 377 units. Consolidated Bakeries lost 15 cents to close at $2.65 as investors exchanged 4,915 shares, Dolla Financial rallied 11 cents to end at $2.19, with stakeholders trading 1,076,387 stocks, Dolphin Cove climbed $1 and ended at $16 while exchanging 4,882 units, Elite Diagnostic increased 44 cents to $1.99 after 6,621 stock units passed through the market. Everything Fresh shed 13 cents to close at $1.39, with 5,996 stocks clearing the market, Fontana dropped 8 cents in closing at $10.92, with 94,540 stock units crossing the market, ISP Finance fell $3.59 to end at $20.95 with investors transferring 8 units, 
Knutsford Express gained 14 cents to close at $10.65 after trading 15,618 shares, Lasco Financial popped 10 cents in closing at $2.40 with a transfer of 13,075 units. Limbers and Bards traded 99,326 shares and slipped 1 cent in close at a 52 weeks’ low of $2.02, Lumber Depot popped 8 cents and ended at $2.15 with an exchange of 76,657 stock units, Main Event dropped $1.40 to $14.57 with 44,151 stocks being traded, Medical Disposables gained 68 cents in ending at $5.06 with shareholders swapping 2,283 shares. Paramount Trading lost 10 cents in closing at $1.80 with 9,000 units crossing the exchange, Regency Petroleum dipped 14 cents to $2.75 and closed with 232,612 stocks changing hands, Spur Tree Spices dipped 9 cents to end at a 52 weeks’ low.$1.99 in trading 84,580 shares.
Stationery and Office Supplies rallied 45 cents to close at $27.88 after exchanging 69,739 stock units and Tropical Battery shed 11 cents in closing at $1.85 after an exchange of 89,941 shares.
The JSE Combined Market Index climbed 1,279.08 points in ending at 343,168.10, while the All Jamaican Composite Index jumped 2,921.07 points to 365,438.57, the JSE Main Index popped 1,479.39 points to 329,347.0, the Junior Market Index slipped 11.07 points to end at 3,917.98 and the JSE USD Market Index added 5.89 points to settle at 244.77.
Trading on the JSE USD market ended with investors exchanging 199,644 shares for US$11,531 from 584,142 units at US$30,721 on Friday.
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.