Stocks closed trading on Monday on the Jamaica Stock Exchange, with the Combined Index rising 170.35 points to 401,607.90, the All Jamaican Composite Index gaining 1,395.95 points to 444,574.70, the JSE Main Index slipping 70.06 points to 391,123.20 and the Junior Market index rising 26.80 points to 3,990.23.
The market’s PE ratio ended at 18.1 based on 2021-22 earnings and 11.8 times those for 2022-23 at the close of market activity on the Jamaica Stock Exchange.
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 along with the more detailed daily report charts, provide investors with regularly updated information to help with decision making.
Investors should make use of 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. 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. 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.
The ICInsider.com PE Ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange and shows companies grouped on an industry basis, allowing for easy comparisons between same sector companies as well as the overall market.
The net asset value of each company is reported as a guide to easily 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 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.
Mostly gains for Jamaica Stock Exchange
Tropical Battery profit explodes in Q1
Tropical Battery reported stunning first quarter results to December, with profits surging 198 percent from just $19 million in 2020 to $56.7 million as revenues jumped 46.8 percent to $662 million and encouraging investors to react positively to the surprising numbers right out of the block by driving the price up 18 percent for the day of the release and 37 percent for the year to date.
Earnings per share climbed from 1.5 cents to 4.4 cents for the quarter.ICInsider.com forecast is for profit of $280 million, with earnings per share of 22 cents, for the year to September, more than five times 2021 full year earnings, with potential for the price to deliver gains of 153 percent.
Battery Sales jumped 52 percent from $389 million in the 2020 December quarter to $591 million while Tyre Sales rose from $6.5 million to $8 million and Accessories contributed $67 million compared to $60 million in 2020, just 11 percent more.
The big push in sales was facilitated by a recovery in the local economy but importantly, increased inventory levels that doubled from $434 million at the end of December 2021 to $873 million which is up from $609 million at the end of September last year, would have played a big role in increasing revenues. The increase in sales “was achieved through an increase in balanced inventory arrivals and a tremendous effort on the part of our sales team to surpass targets by bringing in new customers,” the company managing director and deputy managing director advised in their interim report to shareholders.
Other Income slipped 14 percent to $2.6 million and interest Income dropped 39 percent to $3.6 million.
Improvement in profit margin remained at 30 percent for both quarters and resulted in gross profit rising 44 percent to $196 million from $136 million in 2020 as cost of sales rose just ahead of the increase in revenues.
Administrative expenses rose 10 percent to $114 million in the quarter from $104 million in 2020. Depreciation charges jumped 79 percent to $16 million. Finance costs rose 13 percent, to $15 million from $13.5 million in 2020.
Tropical Battery line of products
The operation generated gross cash flow of $73 million but ended up with negative inflows of $30 million after increase in working capital and addition to fixed assets and ended with cash funds of $144 million. At the end of the quarter, current assets rose to $1.6 billion from $1.09 billion in 2020 while current liabilities moved from $343 million at the end of December 2020 to $679 million, leaving net current assets at $933 million. Payables rose to $564 million from $223 million at the end of 2020, at the same time shareholders’ equity stands at $883 billion with borrowings at $568 million.
“With our more-than-adequate levels of inventory, we see a bright year ahead. We are also currently expanding our top-selling retail store, located on Grove Road, just off Half Way Tree Road in Kingston, which will allow us to increase sales at this location even further, and achieve higher profitability, given that retail margins are better than our wholesale margins while offering greater comfort and convenience for our team members and customers with a substantial increase in square footage. We plan to increase our retail presence island-wide in the coming quarters. The company rolled out new products in the quarter and plan to launch more in the March quarter”, the company stated in a report to shareholders, jointly signed by Alexander Melville, Managing Director and Daniel Melville Deputy Managing Director.
The stock traded at $1.74 on the Junior Market of the Jamaica Stock Exchange with a PE ratio of just 8 times 2022 earnings compared to an average of over 19 for the market and sits at the top of ICTOP10 Junior Market listing.
Tropical Battery tops ICTOP10
Tropical Battery surges to sit on top of the ICTOP10 Junior Market listing with the company seemingly poised to earn $280 million with earnings per share of 22 cents, more than five times 2021 full year earnings, with potential for the price to deliver gains of 153 percent as the stock helped in creating a complete overhaul of the TOP 3 stocks at the end of the week.
Tropical Battery heads the Junior Market ICTOP10.
In the past week, the Junior Market came back to life and clawed back much of the 226 points lost in the previous week while the Main Market continues to consolidate around the 440,000 points level, on the All Jamaica Composite Index.
The focus this past week was on the FJP Limited IPO that opened on Monday at $1 per share and closed on Tuesday, having been oversubscribed. As the FJP offer closed, up came the third new offer for the Junior Market in 2022, with the release of the EducFocal prospectus to raise $130 million at $1 per share, with the issue opening on March 3 and expected to close shortly thereafter.
In TOP10 developments this week, returning to the Junior Market are Tropical Battery with the price slipping from last week’s $1.79 to $1.74 and Medical Disposables after the price slipped from $7.27 to $6.60 this week. 
Leaving the TOP10 this week are iCreate and Cargo Handlers. The Main Market had one change, with Carreras moving out after hitting $8.90 and Jamaica Broilers coming in to replace it.
During the week, the Junior Market TOP10 listed Cargo Handlers surged 27 percent to $8.89, iCreate rose 28 percent to close at 77 cents, while Elite Diagnostic and Lasco Distributors both lost 9 percent to end at $3.30 and $3.63 respectively and Lasco Financial lost 8 percent to close at $3.30.
In the Main Market, Carreras rose 8 percent to close of $8.90 while Sagicor Group added 6 percent to end at $57, but 138 Student Living lost 5 percent to end at $5.20.
The Junior Market potential gain for the TOP 10 Junior Market stocks has moved up from 104 percent to 113 percent, much lower than the Main Market at 125 percent. The top three stocks in the Junior Market are Tropical Battery followed by Elite Diagnostic and Lasco Distributors to gain between 120 and 153 percent, compared to 109 and 129 percent, previously.
The potential gains for Main Market stocks moved from 122 percent last week to this weeks’ 125 percent, with the top three being Guardian Holdings followed by JMMB Group and Sygnus Credit Investments all projected to gain between 161 and 180 percent versus 165 and 185 percent last week.
The average PE for Junior Market has moved to 19.4 based on ICInsider.com’s 2021-22 earnings and is ahead of the JSE Main Market at 16.7. In the process, the Junior Market has surpassed the average of 17 that was achieved at the end of March last year. The TOP 10 stocks trade at a PE of a mere 9.5, with a 41 percent discount to that market’s average.
All the stocks in the Junior Market can gain just 3 percent to the end of March this year, based on an average PE of 20. About a third of Junior Market stocks with positive earnings are trading at or above this level, averaging around 23.
The average PE for the JSE Main Market is 16.9 just 12 percent less than the PE of 19 at the end of March and 18 percent below the target of 20 to March this year. The Main Market TOP 10 average PE is 9.1 representing a 46 percent discount to the market, well below the potential of 20. Around 17 stocks or a third of the market trade at or above a PE of 19, with most over 20, for an average roundabout 25, suggesting that the accepted multiple is between 20 and 25 times current year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings per share are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Mixed trading for Jamaica Stock Exchange
Stocks closed mixed on Friday in trading on the Jamaica Stock Exchange, with the Combined Index rising 317.09 points to end at 401,437.50, the All Jamaican Composite Index declined 104.45 points to 443,178.75, the JSE Main Index advanced 358.54 points to 391,193.26 and the Junior Market slipped 2.14 points to settle at 3,963.43.
The market’s PE ratio ended at 17.7 based on 2021-22 earnings and 11.8 times those for 2022-23 at the close of market activity on the Jamaica Stock Exchange.
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 along with the more detailed daily report charts, provide investors with regularly updated information to help with decision making.
Investors should make use of 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. 
Investors who buy when prices are close to the average will find that they are not inclined to overpay for a stock. 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.
The ICInsider.com PE Ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange and shows companies grouped on an industry basis, allowing for easy comparisons between same sector companies as well as the overall market.
The net asset value of each company is reported as a guide to easily 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 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.
Running streak broken for Junior Market
The four consecutive days of gains in the Jamaica Stock Exchange Junior Market ended Thursday, with a modest fall in the market index after the volume of stocks traded jumped 192 percent and the value climbed 160 percent higher than Wednesday.
The Junior Market Index shed 18.33 points to settle at 3,965.57 after 40 securities traded, down from 43 on Wednesday, with 15 rising, 19 declining and six, closing unchanged. The Investor’s Choice bid-offer indicator reading was negative at the close, with no stock ending with the bid higher than the last selling price while eight closed with lower offers.
The PE Ratio, a measure used to compute appropriate stock values, averages 19.5. The PE ratio of each stock in the chart below is based on ICInsider.com earnings forecast for companies with financial years up to August 2022.
Overall, 12,953,091 shares traded for $51,920,823 up from 4,440,089 units at $19,969,265 on Wednesday. SSL Venture led trading with 3.38 million shares for 26.1 percent of total volume followed by Jamaican Teas with 2.01 million units for 15.5 percent of the day’s trade, Future Energy Source with 1.77 million units for 13.7 percent market share, while Lasco Financial ended with 1.19 million units changing hands for 9.2 percent market share.
Trading on Thursday averaged 323,827 shares at $1,298,021 compared to 103,258 shares at $464,402 on Wednesday and month to date, averaging 378,787 units at $1,434,941, compared to 381,857 units at $1,442,591 previously. January closed with an average of 319,395 units at $1,181,136.
At the close, Access Financial increased 69 cents to $20.65 closing with 104 shares traded, AMG Packaging advanced 34 cents in closing at $3.40 while exchanging 8,389 stock units, Blue Power dropped 50 cents to close at $3.50 trading 13,364 stocks. Cargo Handlers climbed 50 cents to $8.10 after exchanging 69,249 units, Dolphin Cove lost $1.94 to end at $27 with an exchange of 281,403 units, Elite Diagnostic declined 21 cents to end at $3.10 in switching ownership of 134,462 shares. General Accident fell 20 cents to close at $6.10, with 2,320 stocks crossing the market, Honey Bun rallied 15 cents to $9.85 after 47,551 stock units changed hands, Iron Rock Insurance shed 32 cents after ending at $3.10 in an exchange of one unit.
KLE Group dropped 37 cents to close at $2.18 in trading 17,495 units, Knutsford Express rose 20 cents and ended at $8 after exchanging 11,696 shares, Lasco Manufacturing gained 10 cents to end at $4.65 trading 24,895 stock units. Limners and Bards shed 23 cents in closing at $3.51 in exchanging 187,213 units, Medical Disposables popped 35 cents to $7, with 14,127 stocks crossing the exchange, SSL Venture declined 11 cents to close at $1.54 with 3,382,222 shares crossing the market. Stationery and Office Supplies increased 10 cents in ending at $7.50 with the swapping of 5,323 stock units and tTech lost 15 cents in closing at $4, with 5,500 stocks clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Stocks slip on the Jamaica Stock Exchange
Stocks pulled back in trading on the Jamaica Stock Exchange on Thursday after posting gains in the early morning session and ended trading, with the Combined Index fell 1638.68 points to end at 401120.41, the All Jamaican Composite Index dropped 2,053.46 points to 443,283.20 and the JSE Main Index fell 1,576.68 points to end at 390,834.72.
The Junior Market slipped 18.33 points to close at 3,965.57, the first decline since the recent rebound started last Friday.
The market’s PE ratio ended at 17.7 based on 2021-22 earnings and 11.7 times those for 2022-23 at the close of market activity on the Jamaica Stock Exchange.
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 along with the more detailed daily report charts, provide investors with regularly updated information to help with decision making.
Investors should make use of 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. 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. 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.
The ICInsider.com PE Ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange and shows companies grouped on an industry basis, allowing for easy comparisons between same sector companies as well as the overall market.
The net asset value of each company is reported as a guide to easily 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 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.
EduFocal attractive based on 2022 earnings
EduFocal Limited is offering 129,689,219 ordinary shares to the public at $1 each with the issue opening on March 3, 2022, with the closing scheduled for March 17, but is expected to close earlier.
Only 80,499,272 Ordinary Shares will be available to the general public as 49,189,947 are reserved for Key Strategic Partners and a Lender who agreed to convert a loan into equity.
The Company intends to apply to the Jamaica Stock Exchange for admission of the shares on the Junior Market and will bring the total listings on that market to 45 if the issue is successful.
The company experienced rapid growth with revenues of $27 million in 2019 rising to $103 million in 2020 and profit before tax of $15.6 million. For the period to September 2021 revenues rose 39 percent to $107.6 million with a loss of less than a million dollars, from $77.5 million in revenues and a small profit of $7.5 million before tax. Preliminary results to December 2021 saw revenues rising to $168.6 million with a profit of $15 million or 2.8 cents per share, putting the PE ratio around 36 times 2021 earnings.
The company is projecting revenues rising to $322 million in 2022 and $355 million in 2023, with profits of $50 million and $69 million respectively. The projected revenues for 2022 would equate to growth of 91 percent, well above the December quarter revenues annualized of around $240 million. The forecasted profit appears reasonable if the performance in the December quarter carries over for the rest of 2022 and would represent earnings per share of 8 cents with a PE of 12.
The company had shareholders’ equity of $71 million, with borrowings of $114 million. Current assets stood at $138 million and includes cash of $17 million and a high degree of receivables of $114 million. Payables amount to $24 million at the same time.
The Company commenced operations in March 2012 and has two divisions, Learn and Business. Under the Learn division, the Company provides educational technology in the Business to Consumer space and more recently via the Business division, it offers Business to Business solutions.
EduFocal Learn encompasses the Company’s core business offering which is focused on providing a social learning platform that combines study with play, with the primary offering, focused on test preparation for Jamaica’s Primary Exit Profile exams, previously known as the Grade Six Achievement Test (GSAT). In September 2020, the Company launched the EduFocal Academy product which entailed a full-day learning programme.
The Company’s content is delivered over its proprietary e-learning platform, for which it charges monthly subscription fees. EduFocal Business division was launched in 2020. It is focused on delivering organisation or industry specific e-learning content using the Company’s platform architecture and know-how.
The proceeds of the offer will be used to pay transaction costs of $12 million, $42 million will be used towards the repayment of short term debt and approximately $62 will be used towards expansion in new markets.
The company is involved in online education, relatively new business activity as such the risk associated with an investment in these shares may be higher than for longer established businesses in tried and proven segments of the economy.
The directors are Peter Levy, chairman, Shauna Fuller Clarke, Lloyd Swaby Gordon Swaby, Grace Lindo and Kevin Donaldson
Junior Market rises main market slips
Stocks ended mixed in trading on the Jamaica Stock Exchange on Wednesday, with the Combined Index falling 674.56 points to 402,759.09, the All Jamaican Composite Index dropping 964.21 points to settle at 445,336.66 and the JSE Main Index lost 1,127.53 points to end at 392,411.40.
The Junior Market continues to recover from last weeks’ big sell off by adding another 43.38 points to gains over the past four days to close at 3,983.90.
The market’s PE ratio ended at 17.8 based on 2021-22 earnings and 11.9 times those for 2022-23 at the close of market activity on the Jamaica Stock Exchange.
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 along with the more detailed daily report charts, provide investors with regularly updated information to help with decision making.
Investors should make use of 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. 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. 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.
The ICInsider.com PE Ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange and shows companies grouped on an industry basis, allowing for easy comparisons between same sector companies as well as the overall market.
The net asset value of each company is reported as a guide to easily 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 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.
Mixed trading for Jamaican stocks on Tuesday
Stocks ended with losses at the close of trading on the Jamaica Stock Exchange on Tuesday with the Combined Index falling 1,327.32 points to 403,433.65, the All Jamaican Composite Index added 111.44 points to end at 446,300.87.
The Junior Market gained 14.23 points to close at 3,940.52 and the JSE Main Index dropped 1,550.37 points to end at 393,538.93.
The market’s PE ratio ended at 17.7 based on 2021-22 earnings and 11.8 times those for 2022-23 at the close of market activity on the Jamaica Stock Exchange.
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 along with the more detailed daily report charts, provides investors with regularly updated information to help with decision making.
Investors should make use of 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. 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. 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.
The ICInsider.com PE Ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange and shows companies grouped on an industry basis, allowing for easy comparisons between same sector companies as well as the overall market.
The net asset value of each company is reported as a guide to easily 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 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.
Jamaican stocks closed mixed on Monday
Stocks closed mixed on the Jamaica Stock Exchange on Monday leaving the Combined Index with a rise of 340.71 points to end at 404,760.98, the All Jamaican Composite Index declined 1,542.16 points to end at 446,189.43, the Junior Market opened trading at 3,975 points up from Friday’s close of 3,874.34 and gained 51.94 points to close at 3,927 after paring back early morning gains to trade down to 3,904.27 points by 11 am and the JSE Main Index lost 124.48 points to end at 395,089.30.
The market’s PE ratio ended at 17.6 based on 2021-22 earnings and 11.8 times those for 2022-23 at the close of market activity on the Jamaica Stock Exchange.
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 along with the more detailed daily report charts, provide investors with regularly updated information to help with decision making.
Investors should make use of 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. 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. This approach helps to take emotions out of the investment decision and at the same time not be too far from the majority of investors.
The ICInsider.com PE Ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange and shows companies grouped on an industry basis, allowing for easy comparisons between same sector companies as well as the overall market. The net asset value of each company is reported as a guide to easily assess the value of stocks based on this measure.
The chart also shows daily changes in stock prices and the percentage year to date changes 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 also show 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.
