Trading in Dolla Financial cooled off on Tuesday, but with trading of 63.3 million shares, the largest daily amount so far since the shares were listed last week and bettering the 19 million units traded on Monday, as the price topped out at $3.60, but ended the day at $3.22.
The Main and Junior Markets rose and helped to push the JSE Combined Index up 1,243.59 points to close at 396,281.77.
The All Jamaican Composite Index rose 501.91 points to 435,913.02, the JSE Main Index rallied 603.43 points to 381,610, the Junior Market index rose a strong 75.60 points to 4,389.62 and the JSE USD market index slipped 1.28 points to close at 212.55.
Investors exchanged 87,888,049 shares in all markets, with the value of stocks traded in the Main and Junior Markets ended at $718.5 million and in the JSE USD market, US$11,186.
The market’s PE ratio ended at 24.9 based on 2021-22 earnings and 13.2 times those for 2022-23 at the close of trading.
Investors need a series of measures and pertinent information to successfully navigate many investment choices, 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 with decision-making.
Investors should use the chart to help make rational investment decisions by investing in stocks that are 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 take emotions out of the investment decision 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 listed on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.
Dolla Financial cools off
Dolla Financial 207% 4 days’ gains
Trading in Dolla Financial pushed the price to a maximum permitted for the day at $3.07, up 207 percent since listing last week, resulting in the biggest day of trading so far in the stock, with 19 million units and helped in pushing the Junior Market index up a solid 111.58 point to 4,324.02.
Dolla closed, with 31.5 million units to buy on the bid at $3.07, with only a few million units on offer. Activity in the Junior Market helped to push the JSE Combined Index up 514.73 points to close at 395,038.18.
The All Jamaican Composite Index slipped 860.46 points to 435,411.11, the JSE Main Index fell 521.64 points to 381,006.57 and the SE USD market index popped 2.90 points to close at 213.83.
Investors exchanged 45,540,179 shares in all markets, with the value of stocks traded in the Main and Junior Markets ended at $332.5 million and in the JSE USD market, US$46,352.
The market’s PE ratio ended at 24.4 based on 2021-22 earnings and 13 times those for 2022-23 at the close of trading.
Investors need a series of measures and pertinent information to successfully navigate many investment choices, 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 with decision-making.
Investors should use the chart to help make rational investment decisions by investing in stocks that are 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 take emotions out of the investment decision 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 listed on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.
New ICTOP10 entrants
Dolla Financial a former ICInsidertop10 stock fresh from the recent IPO, was listed on Wednesday and was the highlight of the Jamaica Stock Exchange, with the stock jumping 132 percent pushed by extremely high demand, with just modest selling, with indications the price may need to be in the $3 to $4 range to evoke greater balance between buyers and sellers.
Investors with a longer term investment target of over two years or more may find the potential growth prospects exciting and pay off well at the above prices.
The week ended with two new listings in the TOP10, but half of the Junior Market stocks recorded gained and 4 in the Main Market.
Junior Market stocks with worthwhile gains this past week are Dolphin Cove, with the price rising 14 percent to $17.61, Stationery and Office Supplies up 13 percent to $12.45, AMG Packaging up 10 percent to $3.94 and Caribbean Cream 5 percent to $4.98. Medical Disposables dropped 16 percent to $6.26.
In the TOP10 Main Market, Caribbean Cement lost 8 percent to $64.50 and Guardian Holdings fell 5 percent to $510.
Dolphin Cove and Stationery and Office Supplies dropped out of the Junior Market TOP10 and were replaced by CAC 2000, got an earnings upgrade to $1.32 after the company reported a profit of $47 million or 36 cents per share for the April quarter with the company reporting solid second quarter profit of $14 million for the six months to April from $8.7 in 2021 and Lasco Distributors.
The average PE for the JSE Main Market TOP 10 ends the week at 6.2, well below the market average of 14.1, while the Junior Market PE for the Top 10 is 5.8 versus the market at 13.2. The Junior Market TOP10 is projected to gain an average of 249 percent to May 2023 and the Main Market 243 percent.
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 will likely deliver the best returns up to the end of May 2023. They are 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, 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.
Dolla Financial gains 132% in 3 days
Investors demanding more stocks in the recent IPO issue, Dolla Financial that opened trading this week, bought 2.35 million on Friday, the most since listing on Wednesday, but had to pay $2.32 for them, but that did nothing to quench the 65 million units bid at the close at $2.32, the maximum permitted for the day as the stock rose 132 percent since listing.
Based on the lopsided bid to offer, the stocks seem poised to hit the maximum on Monday at 3.07 as investors fight to get stocks.
The Junior Market index delivered the best performance for investors with the Index surging a solid 80.93 points to 4,202.44 as it helped the JSE Combined Index rally 423.59 points to close at 394,523.44.
The All Jamaican Composite Index slipped 101.02 points to 436,271.57, the JSE Main Index fell 324.63 points to 381,528.21 and the SE USD market index dipped 3.59 points to close at 210.93.
Investors exchanged 30,725,425 shares in all markets, with the value of stocks traded in the Main and Junior Markets ended at $304.2 million and in the JSE USD market, US$13,970.
The market’s PE ratio ended at 23.9 based on 2021-22 earnings and 12.9 times those for 2022-23 at the close of trading.
Investors need a series of measures and pertinent information to successfully navigate many investment choices, 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 with decision-making.
Investors should use the chart to help make rational investment decisions by investing in stocks that are 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 take emotions out of the investment decision 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 listed on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.
Dolla Financial up 75% in two days
On the second day of trading, Dolla Financial opened trading at the maximum 30 percent increase permitted to $1.72, with trading halted for an hour with the maximum for the day recomputed to $1.75, based on the change in the reference price to $1.52 from which it could trade up to 15 percent to $1.75 for the day, where it closed.
Trading ended with 365,000 shares trading, with bids to buy 100 million shares at $1.75 seconds before the close, with 200,000 on the offer at $1.92 and 1 million at $1.94. In short, there is not a great deal of selling below $3, but that may change on Friday.
At the close of trading, the Junior Market rose moderately, while the Main Market, and USD market all slipped moderately, with the JSE Combined Index falling 990.81 points to close at 394,099.84.
The All Jamaican Composite Index lost 1,238.51 points to 436,372.59, the JSE Main Index fell 1,477.94 points to 381,852.85, the Junior Market index rose 43.54 points to 4,121.50 and the SE USD market index dipped 3.42 points to close at 214.52.
Investors exchanged 18,381,484 shares in all markets, with the value of stocks traded in the Main and Junior Markets jumped to $513.2 million and in the JSE USD market, US$12,579.
The market’s PE ratio ended at 23.5 based on 2021-22 earnings and 12.7 times those for 2022-23 at the close of trading.
Investors need a series of measures and pertinent information to successfully navigate many investment choices, 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 with decision-making.
Investors should use the chart to help make rational investment decisions by investing in stocks that are 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 take emotions out of the investment decision 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 listed on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.
Strong buying interest for Dolla
Buying interest in Dolla Financial is extremely high and selling low, with 332 million in bids and 6.2 million on offer, just after 9 am on Thursday. Bids are up to $1.72 with minimal offers of 60,000 units up to $1.72 which hardly dented the demand.
At the opening of the market, bids at $1.72 jumped to 48 million shares, with the lowest offer at $1.75. Trading in the stock is halted with the 30 percent price movement being triggered, with the price now 72 percent up on the IPO price of $1.
After the opening of trading, there were 3,650 bids to buy 364.4 million units between 70 cents and $1.72 and just 260 offers to sell 7 million units. the equilibrium price could be some way off.
Dolla Financial gains 32% on debut
Dolla Financial was listed on the Jamaica Stock Exchange Junior Market on Wednesday, with the price hitting the maximum permitted for the day at $1.32, up 32 percent from the IPO price of $1 with trading in only 63,940 shares after the online trading platform frooze up for some time preventing investors from interacting with the market for almost an hour. At the close of trading, there were 45 million units on the bid at $1.32, and just over 30 million at $1.30, with less than 300,000 on the offer below $2.
At the close of trading, the Main and USD Indices, Junior Market and the USD market all slipped moderately, with the JSE Combined Index falling 394.65 points to 395,090.66.
The All Jamaican Composite Index lost 332.58 points to 437,611.11, the JSE Main Index fell 219.82 points to 383,330.79, and the Junior Market index slipped 21.05 points to 4,077.96 and the SE USD market index dipped 1.02 points to close at 217.95.
Investors exchanged 16,183,710 shares in all markets, with the value of stocks traded in the Main and Junior Markets amounting to a mere $79.8 million and in the JSE USD market, US$$34,212.
The market’s PE ratio ended at 23.6 based on 2021-22 earnings and 13.2 times those for 2022-23 at the close of trading.
Investors need a series of measures and pertinent information to successfully navigate the many investment choices 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 with decision-making.
Investors should use the chart to help make rational investment decisions by investing in stocks that are 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 take emotions out of the investment decision and put in on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The ICInsider.com PE Ratio chart covers all ordinary shares on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to 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 payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.
Stock split to lift Fosrich to 3rd largest
Fosrich proposed 10 to 1 stock split will lift the issued shares to the third highest in Jamaica with 5 billion shares and make by far the company with the largest number of issued shares on Junior Market if shareholders approve the split as proposed.
Only Wigton Windfarm with 11 billion issued shares and Transjamaican Highway with 12.5 billion will be ahead of Fosrich. The next closes will be Sagicor Group with 3.9 billion issued shares.
Shareholders of Fosrich at the Annual General Meeting scheduled to be held on June 21 will consider increasing the authorised share capital of the company from 512,821,000 to 15 billion by the creation of an additional 14,487,179,000 ordinary shares.
The shareholders are asked to approve the splitting of issued shares into 10 units with effect from the close of business on July 6. If approved will result in the total issued shares being increased to 5,022,755,550 ordinary shares of no par value.”
The Company is requesting authorisation to issue up to 126 million shares by way of a Rights Issue to existing stockholders and or the public, on terms to be decided by the directors.
The company expanded into the manufacturing of PVC pipes and the repairs of transformers, resulting in a big surge in revenues and profits that helped in fueling the stock price to a high of $38 this year from just $7.20 a year ago.
Or the quarter to March this year revenues jumped a solid 64 percent to $900 million and profit surged 314 percent to $159 million, with earnings per share of 32 cents.
Dolla list Wednesday
The shares of Dolla Financial that was the subject of an Initial Public Offering will be listed on the Jamaica Stock Exchange Junior Market on Wednesday morning after increasing the number of shareholders to 14,981 as a result of the IPO.
The stock offered to the market at $1 each was heavily oversubscribed, with investors getting around four percent on average of the shares applied from the Public Pool. This publication expects moderate trading on the opening day with the price set to hit $1.30 but should see pretty spirited trading on Thursday when the price could well exceed the usual 30 percent one day limitation for price movement.
Around 40,000 applicants were received for the issue, of 500 million shares, information gleaned from persons close to the issue. The trading symbol will be Dolla, the same as the name.
JSE markets in consolidation mode
Trading on the Jamaica Stock Exchange on Tuesday ended in consolidation mode with moderate movements in market indices as investors sit on the sideline until closer to the major release of results towards the end of July when the first set should start appearing. At the close of trading, the Main and USD Indices fell and Junior Market rose moderately, with the JSE Combined Index falling 1,393.72 points to close at 395,485.31.
The All Jamaican Composite Index shed 2,221.13 points to 437,943.69, the JSE Main Index fell 1,733.32 points to 383,550.61, the Junior Market index rose 25.80 points to 4,099.01 and the SE USD market index slipped 1.51 points to close at 218.97.
Investors exchanged 18,817,878 shares in all markets, with the value of stocks traded in the Main and Junior Markets amounting to $139.50 million and in the JSE USD market, US$15,551.
The market’s PE ratio ended at 22.9 based on 2021-22 earnings and 12.6 times those for 2022-23 at the close of trading.
Investors need a series of measures and pertinent information to successfully navigate the many investment choices 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 with decision-making.
Investors should use the chart to help make rational investment decisions by investing in stocks that are 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 take emotions out of the investment decision 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 listed on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.
