Trading closed on the Junior Market of the Jamaica Stock Exchange Monday, with the recent star Stationery and Office Supplies falling back sharply from the high of $35 it reached last week down to $25.50 as the volume of stocks traded declining 19 percent with a 39 percent lower value than Friday with 45 securities trading compared with 43 on Friday and ended with 18 rising, 18 declining and nine closing unchanged.
At the close, 6,499,546 shares were traded for $18,510,251, down from 8,041,831 units at $30,510,717 on Friday.
Trading averaged 144,434 shares at $411,339, compared with 187,019 shares at $709,552 on Friday with the month to date, averaging 187,756 units at $586,780 compared with 190,394 stock units at $597,463 on the previous day. Trading in May averaged 239,954 units at $648,811.
Image Plus Consultants led trading with 1.29 million shares for 19.9 percent of total volume followed by ONE on ONE Educational with 680,010 units for 10.5 percent of the day’s trade and Mailpac Group with 572,408 units for 8.8 percent market share.
At the close, the Junior Market Index popped 13.44 points to close at 3,955.91 and is now down less than one percent for the year to date and up 10 percent since the low in March and is fraction adrift of the 3,963.89 points reached on February 17, the previous high.
The PE Ratio a measure of computing appropriate stock values, averages 11.2. The PE ratios of Junior Market stocks are computed using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, AMG Packaging lost 37 cents in closing at $2.29 with a transfer of 1,275 shares, Cargo Handlers fell 9 cents to $22, with 4 stock units changing hands, Caribbean Assurance Brokers dropped 65 cents to end at $3.35 while exchanging 15,496 stocks. Caribbean Cream rallied 70 cents to end at $4.70 with an exchange of 11,619 units, 
Consolidated Bakeries gained 23 cents to close at $2.42 after 3,344 shares crossed the exchange, Dolphin Cove rose 97 cents in closing at $16.97 as 11,757 units passed through the market. Elite Diagnostic climbed 13 cents to $2.35 in an exchange of 208,580 stocks, GWest Corporation advanced 10 cents to close at $1.03 after 86 stock units changed hands, Honey Bun dipped 14 cents to end at $6.55 in switching ownership of 12,480 stocks. iCreate popped 14 cents and ended at $1.05 after a transfer of 389,514 stock units, Iron Rock Insurance increased 10 cents to end at $2.10 and closed with 2,954 units being trading, Knutsford Express climbed $1.16 to $11.99 with investors transferring 270 shares. Lasco Manufacturing declined 38 cents in closing at $4.52, with stakeholders exchanging 5,357 shares, Limners and Bards shed 9 cents to close at $2.11, with 3,794 stock units crossing the market, Main Event dipped 10 cents and ended at $14.90 in an exchange of 23,047 stocks. 
Medical Disposables popped 19 cents in closing at $4.25, with 4,596 units crossing the market, MFS Capital Partners dropped 15 cents to $2.85 as investors exchanged 17,000 shares and Stationery and Office Supplies fell $2.50 to $25.50 with shareholders swapping 188,272 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Jamaican stocks rally on Monday
Trading ended mixed on Monday, with the All Jamaican Composite Index jumping over 3,000 points and the Junior market hitting a new high since early March, but the JSE Main Index declined with Guardian Holding falling to a new low on the Jamaica Stock Exchange, while the JSE USD Market just edged higher at the close, on a day when the volume and value of stocks traded declined compared with that on Friday.
At the close, the JSE Combined Market Index climbed 1,449.05 points to 343,540.26, the All Jamaican Composite Index rallied 2,765.06 points to finish at 364,418.69, the JSE Main Index climbed 1,421.14 points to 329,373.77, the Junior Market Index advanced 13.44 points to settle at 3,955.91, while the JSE USD Market Index rallied 1.07 points to finish at 222.74.
Preference shares with notable price movements but not in the Main Market TOP10 graphs are Jamaica Public Service 7% dropping $2.28 in closing at $46.39 and 138 Student Living preference share down $7 to end at $81.
At the close, investors exchanged 22,226,900 shares in all three markets, up from 22,079,185 stocks on Friday. The value of stocks trading in the Junior and Main markets was $158.6 million, down from $235.7 million on Friday. Trading on the JSE USD market resulted in investors exchanging 261,038 shares for US$25,992 compared to 216,689 units at US$14,393 on Friday.
The market’s PE ratio ended at 18.6 on 2022-23 earnings and 12.5 times those for 2023-24 at the close of trading. 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 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 and 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 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.
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.
Carib Brokers gains 54% & drops ICTOP10
The Junior Market was buoyed by strong movement in shares of Stationery and Office Supplies following the announcement of a proposed stock split that turned out to be 9 for each outstanding share and following ICInsider.com report last week that the stock was a prime candidate for a stock split, the stock rated stock to watch in January, climbed 100 percent since the start of the year but pulled back on Friday following profit taking.
Elsewhere, Caribbean Assurance Brokers jumped 54 percent to close at $4 following the drying up of selling stocks being offered for sale. The stock dropped out of the ICTOP10 and is replaced by Dolla Financial. In the Main Market, Caribbean Cement dropped out of the TOP10 with a 3 percent rise to $50.90 and was replaced by Transjamaican following a fall in price from $2.39 to close the week at $2.24 after hitting a low for the week at $2.
The Junior Market reclaimed the 3,900 handle, following the reclaiming of the 3,800 at the end of the previous week and in the process is just one percent below the end of December last year and is close to retaking the 4,000 level, as technical indicators pointing to the market now at an early stage of a big rally in the second half of the year, following a 10 percent gain since the low for the year in March, suggesting a possible gain in excess of 30 percent for the year.
The Junior Market ended with 4 stocks rising and three declining during the week, with Caribbean Assurance Brokers the lead the stock, followed by One and One, that is up 8 percent to $1.12 and Caribbean Cream up 3% to $4, while iCreate dropped 24% to 91 cents and Consolidated Bakeries dropped 10% to end the week at $2.19. The Main Market had only moderate price movement with none exceeding 3%.
At the end of the week, the average PE for the JSE Main MarketTOP 10 is 5.8, well below the market average of 13.1. The Main Market TOP10 is projected to have an average of 253 percent, by May 2024, based on 2023 forecasted earnings.
The 15 most highly valued Main Market stocks are priced at a PE of 15 to 98, with an average of 28 and 19 excluding the highest PE stocks, 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 11.3. There are 11 stocks representing 23 percent of the market, with PEs from 15 to 44, averaging 20 that are well above the average of the market. The top half of the market has an average PE of 16, possibly the lowest fair value for Junior Market stocks currently. Junior Market is projected to rise by 276 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.
In the market generally, Investors continue to nibble away at a number of stocks and in the process gradually reduce the supply of several stocks that are attractively priced as the market moves toward the summer months, the start of the stock market year.
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 2023 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.
The Junior Market bull market has started
The Junior Market bull market is here.
A big bull market has started in the Junior Market with clear evidence being shown with the rapid rise in the price of Stationery and Office Supplies from around $15 to $35 just before and after the announcement of a meeting to consider a stock split by the company’s directors but also a quiet 10 percent rally in the market from the March low.
The Junior Market bottomed out at 3,594.67 points on March 23 and has since slowly and quietly climbed higher and reclaimed the 3,900 points level on Tuesday this week, in the process reduced the year to date loss to just one percent, having gained 10 percent from this year’s low.
A large number of Junior Market stocks are showing that the supply of shares on offer has been diminishing considerably in recent weeks while in some cases bids are becoming more solid, signs of bullish movement ahead.
The most telling factors, signalling a bull market, are technical indicators, signalling an imminent golden cross. A golden cross is when the short term moving average crosses over the medium term or longer term moving averages. The Junior Market is at the initial stage of crossing over the medium term average trendline. 
Additionally, the market has broken out of a wedge formation to the upside. Both indicators signal significant upward movement in the Junior Market in the coming months. Importantly, where markets usually sell off after the May financial results are released and tend to go into the doldrums until July in most instances. The Junior Market went sideward in April and May and started moving up in June which is a little bit earlier than would normally be the case in the past.
The last time the golden cross occurred in early 2021, the market went on to deliver a 75 percent increase before topping out. With the average PE of the market at 11 times the current year’s earnings and a PE of 20 seemingly a possibility, another robust period now seems to be in the making.
Increased interest rates seem a factor in the decline in the market, resulting in underperformance from 2022, but rates appear to have peaked and are now expected to decline with inflation being reduced from the peak last year, as such the future looks better than the recent past and that is also supported by a number of companies that have posted good results in 2022 and the first quarter this year.
Junior Market trading increased
Trading closed on the Junior Market of the Jamaica Stock Exchange Friday, with the volume of stocks traded rising 37 percent and the value just 9 percent more than on Thursday following trading in 43 securities compared with 40 on Thursday and ended with 19 rising, 17 declining and seven closing unchanged.
Investors traded 8,041,831 shares for $30,510,717 compared with 5,875,457 units at $28,016,001 on Thursday.
Trading averaged 187,019 shares at $709,552, versus 146,886 shares at $700,400 on Thursday with the month to date, averaging 190,394 units at $597,463 compared to 190,602 stock units at $590,538 on the previous day. May closed with an average of 239,954 units at $648,811.
ONE on ONE Educational led trading with 2.95 million shares for 36.6 percent of total volume followed by iCreate with 927,345 units for 11.5 percent of the day’s trade and Fosrich with 756,741 units for 9.4 percent market share.
At the close, the Junior Market Index climbed 25.52 points to 3,942.47.
The PE Ratio, a measure of computing appropriate stock values, averages 11.3. The PE ratios of Junior Market stocks are computed using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Blue Power rose 56 cents to close at $2.65 after a transfer of 95,432 shares, Cargo Handlers popped 9 cents ended at $22.09 in an exchange of 1,914 units, Caribbean Assurance Brokers jumped $1 to 52 weeks’ high of $4 with trading of a moderate volume of 22,624 stocks. Caribbean Flavours increased 15 cents in closing at $1.35 in switching ownership of 40,974 stock units, Dolphin Cove gained 15 cents to end at $16 after an exchange of 22,547 shares, 
General Accident fell 25 cents to $5 after 2,501 units changed hands. GWest Corporation dipped 10 cents to end at 93 cents with an exchange of 51,347 stocks, Honey Bun shed 21 cents in closing at $6.69, with just 854 stock units crossing the market, iCreate lost 24 cents to close at a 52 weeks’ low of 91 cents as 927,345 units passed through the market. Indies Pharma rallied 9 cents and ended at $3.10 with shareholders swapping 13,685 stocks, Iron Rock Insurance declined 15 cents to close at $2 as investors exchanged 17 shares, ISP Finance climbed $5.09 to $25 after exchanging a mere 2 stock units. JFP Ltd popped 10 cents and ended at $1.65 with stakeholders exchanging 53,472 units, Knutsford Express dropped 17 cents to end at $10.83 with investors transferring 201 stock units, 
Lasco Manufacturing rallied 40 cents in closing at $4.90 after trading 200,915 shares. Main Event climbed 15 cents in closing at a 52 weeks’ high of $15 with 126,139 stocks clearing the market, MFS Capital Partners increased 20 cents to $3 with a transfer of 32,928 stock units. Paramount Trading shed 10 cents to $2.08, with 146,947 units crossing the exchange and Stationery and Office Supplies dipped $5.89 to close at $28 after an exchange of 491,029 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Rally for Main & Junior Market
Profit taking pushed the price of Stationery and Office Supplies down to $27 on Friday but the Junior and the Main markets closed higher than on Thursday the JSE USD Market slipped modestly as trading in the overall market fell from Thursday’s levels.
At the close, the JSE Combined Market Index climbed 2,654.49 points to 342,091.21, the All Jamaican Composite Index popped 45.77 points to 361,653.63, the JSE Main Index rallied 2,594.54 points to 327,952.63, the Junior Market Index rose 25.52 points to 3,942.47, while the JSE USD Market Index slipped 0.40 points to 221.67.
Preference shares with notable price movements but are not in the Main Market TOP10 graphs are Eppley 7.75% preference share dropping $1 to $19, Jamaica Public Service 7% declining $7.33 to $48.67 and JMMB Group 7.25% preference share increased 53 cents to close at $4.06.
At the close, investors exchanged 22,079,185 shares in all three markets, up from 30,664,504 shares on Thursday. The value of stocks trading in the Junior and Main markets was $235.7 million, down from $246 million on Thursday. Trading on the JSE USD market resulted in investors exchanging 216,689 shares for US$14,393 compared to 77,890 units at US$1,414 on Thursday.
The market’s PE ratio ended at 18.3 on 2022-23 earnings and 12.4 times those for 2023-24 at the close of trading. 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 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 and 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 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.
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.
SOS to split stocks into 9 units
Shareholders of Stationery and Office Supplies seem set to enjoy the benefit of splitting existing stock into nine ordinary shares for each they own to take effect and will result in the total number of shares jumping from 250.12 million units to 2.251 billion effective on July 25.
To accommodate the split, shareholders will be asked to vote on a resolution to be tabled at the company’s annual General meeting of July 25 to effect the split and will also be asked to vote to increase the number of shares to 500 billion units, with effect from July 25.
The shares of SOS that hit a record high of $34.98 on Wednesday closed at $33.89 on Thursday on the Junior Market of the Jamaica Stock Exchange.
Profit taking for SOS as JSE trading rises
Profit taking cooled the flight of Stationery and Office Supplies, with the price falling to the day’s low of $29.77 but closing down at $33.89, as investors traded just under 400,000 shares as the Junior and Main Markets closed lower and the JSE USD Market closed moderately higher.
At the close, the JSE Combined Market Index gave back 1,996.90 points to end at 339,436.72, the All Jamaican Composite Index shed 993.11 points to end at 361,607.86, the JSE Main Index fell 1,951.96 points to 325,358.09, the Junior Market Index dropped 19.18 points to 3,916.95, while the JSE USD Market Index popped 0.08 points to 222.07.
Preference shares with notable price movements but are not in the Main Market TOP10 graphs are Jamaica Public Service 7% declined $8.80 to $56 and Productive Business Solutions 9.75% preference share shed $1.99 to close at $90.01.
At the close, investors exchanged 30,664,504 shares in all three markets, up from 18,247,148 shares on Wednesday. The value of stocks trading in the Junior and Main markets was $246 million, down from $147.3 million on Wednesday. 
Trading on the JSE USD market resulted in investors exchanging 77,890 shares for US$1,414 compared to 393,412 units at US$6,625 on Wednesday.
The market’s PE ratio ended at 18.5 on 2022-23 earnings and 12.3 times those for 2023-24 at the close of trading. 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 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 and 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 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.
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.
SOS hits $34.98 as all JSE markets rise
Stationery and Office Supplies raced to another new record high with a closing price of $34.98, as investors responded aggressively to an announcement that directors would be considering a stock split that pushed to price up 75 percent since and just over 100 percent for the year to date, the move helped the Junior market to solidify its grip on the 3,900 mark elsewhere the Main Market and the JSE USD Market closed higher at the end of trading.
At the close, the JSE Combined Market Index gained 2,428.83 points to close at 341,433.62, the All Jamaican Composite Index rose 1,549.13 points to finish at 362,600.97, the JSE Main Index increased 2,357.50 points to 327,310.05, the Junior Market Index rallied 25.03 points to 3,936.13 while the JSE USD Market Index gained 1.36 points to end at 221.99.
Preference shares with notable price movements but are not in the Main Market TOP10 graphs are Jamaica Public Service 7% popped $8.45 in closing at $64.80 and Productive Business Solutions 9.75% preference share popped $1 to end at $92.
At the close, investors exchanged 18,247,148 shares in all three markets down from 41,191,210 shares on Tuesday. The value of stocks trading in the Junior and Main markets was $146.3 million, down from $645 million on Tuesday. Trading on the JSE USD market resulted in investors exchanging 393,412. shares for US$ 6,625 compared to 934,268 units at US$32,448 on Tuesday.
The market’s PE ratio ended at 18.5 on 2022-23 earnings and 12.3 times those for 2023-24 at the close of trading.
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 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 and 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 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.
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.
Junior Market reclaims 3,900 others fall
The highlight on the Jamaica Stock Exchange on Tuesday is the sharp increase in demand for shares of Stationery and Office Supplies, with the price hitting a record high of $26.45 and closing with bids at $26.45 to buy 220,709 units and 114,415 shares at $26 compared to moderate selling, starting at $30.50, and follows an announcement of a directors’ meeting to discuss a stock split.
Elsewhere, the Main Market declined, but the Junior Market closed above the 3,900 mark for the first time since the middle of February this year, the JSE USD Market closed lower at the end of increased trading.
At the close, the JSE Combined Market Index fell 2,015.29 points to close at 339,004.79, the All Jamaican Composite Index dropped 3,269.39 points to 361,051.84, the JSE Main Index declined 2,465.86 points to 324,952.55, the Junior Market Index popped 31.19 points to 3,911.10, while the JSE USD Market Index shed 20.38 points to close at 220.63.
Preference shares with notable price movements but are not in the Main Market TOP10 graphs are Jamaica Public Service 7%, which climbed $7.35 to $56.35 and Productive Business Solutions 9.75%, preference share declined 50 cents and ended at $91.
At the close, investors exchanged 41,191,210 shares in all three markets up from 30,498,415 shares on Monday. The value of stocks trading in the Junior and Main markets was $645 million, up from $95.3 million on Monday. 
Trading on the JSE USD market resulted in investors exchanging 934,268 shares for US$32,448 compared to 764,260 units at US$20,272 on Monday.
The market’s PE ratio ended at 18.3 on 2022-23 earnings and 12.3 times those for 2023-24 at the close of trading.
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 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 and 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 paid or payable and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume about the highest bid and the lowest offer for each company.
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.