The main and Junior Markets are up nearly 10 percent and 5 percent since the lows reached in September and December respectively and they are expected to continue to rally in the weeks and months ahead, with the Junior Market now showing bullish signals that are B indicators of a solid bull market ahead.
The ICTOP10 ended the past weeks, with a 9 percent jump in the price of ISP Finance to $30.55 and an 8 percent fall in Stationery & Office Supplies to $1.56.
In the Main Market, 138 Student Living surged 24 percent to $3.75 followed by a 12 percent rise for Margaritaville to $15.99, as General Accident Insurance popped by 8 percent to $5.61 as demand rises for the stock but Kay declined 14 percent to $2.30.
On the surface, ISP Finance appears highly overpriced based on 2024 earnings of 57 cents per share, but the December quarter earnings were 25.2 cents per share or just over $1 per annum. With more profit to be generated in 2024 as profit grows, earnings should exceed that of 2024 by what is expected to be a wide margin and most likely justify the current price.
There were no changes to the list of companies in the TOP10 this past week.
For the full list of weekly percentage changes for the ICTOP10 stocks, check the attached charts for the weekly percentage price movements.
The average PE for the JSE Main Market ICTOP 10 stands at 5.6, well below the market average of 13.9 and the Junior Market TOP10 sits at 7.4 over half of the market, with an average of 13.
The Main Market ICTOP10 is projected to gain an average of 269 percent by May 2024, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 173 percent over the same period.
In the Main Market ICTOP 10, a total of 16 of the most highly valued stocks representing 33 percent of the Main Market are priced at a PE of 15 to 115, with an average of 36 and 25 excluding the highest PE ratios, and a PE of 29 for the top half and 18 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 11 stocks, or 23 percent of the market, with PEs ranging from 15 to 43, averaging 21, well above the market’s average. The top half of the market has an average PE of 17, possibly the lowest fair value for stocks, currently.
Of great import is that the averages of both markets are now converging around a PE of 20 for close to a third of the market, as the year is coming to a close and with more information available on the full year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks will likely deliver the best returns on or around May 2024 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
The market closed with 20,635,786 shares trading for $71,375,395 down from 23,595,187 units at $144,177,624 on Thursday.
The Main Market ended trading with an average PE Ratio of 13.9.The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Kingston Properties fell 50 cents to close at $7 as 67,797 units passed through the market, Kingston Wharves increased $5.40 to $34.30 with an exchange of 14,282 stocks, Massy Holdings popped $1 to $91, with 26,066 stock units changing hands. Mayberry Group skidded 82 cents to end at $7.18 with a transfer of 3,612 shares, MPC Caribbean Clean Energy gained $10 to close at $95, with 101 stocks crossing the exchange, NCB Financial dipped $1 and to $67 with investors dealing in 7,961 units. Pan Jamaica shed $2.70 to $47.50 while exchanging 4,327 stock units, Proven Investments rose $1.77 to end at $23.62 with investors transferring 682 shares and Sygnus Real Estate Finance dropped $1.94 in closing at $11.01 after an exchange of 2,001 stock units.
In the preference segment, Jamaica Public Service 7% lost 99 cents and ended at $48 with investors swapping just one stock and JMMB Group 7% preference share declined 66 cents to close at $2.23 after 5 units crossed the market.
The market closed with 23,595,187 shares being traded for $144,177,624 compared with 19,510,472 units at $158,059,371 on Wednesday.
The Main Market ended trading with an average PE Ratio of 13.7 The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with financial year ending around August 2024.
138 Student Living sank 57 cents in closing at $3.63 in switching ownership of 23,710 stock units, Pan Jamaica advanced $3.40 to $50.20 after 776 units passed through the market, Proven Investments shed $1.97 and ended at $21.85 with investors trading 9,266 stocks. Scotia Group popped $3 to end at $46 after a transfer of 461,066 units, Seprod climbed $2.95 in closing at $85 with investors swapping 538 shares, Supreme Ventures increased by 60 cents to close at $25.14 in an exchange of 27,521 stock units and Sygnus Credit Investments rose 49 cents to $11.12 with investors transferring 11,391 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The market closed with an exchange of 19,510,472 shares at $158,059,371 compared with 32,587,303 units at $270,744,190 on Tuesday.
The All Jamaican Composite Index dipped 4,423.34 points to 366,211.78, the JSE Main Index declined 3,917.90 points to 326,885.56 and the JSE Financial Index lost 1.87 points to end at 69.15.
MPC Caribbean Clean Energy climbed $5 to $85 with an exchange of 35 shares. NCB Financial skidded 60 cents to $68.15 with investors dealing in 10,964 stocks, 138 Student Living rose 38 cents to $4.20 in an exchange of 108,694 units, Pan Jamaica lost $3.40 to close at $46.80, with 585 stock units changing hands. Proven Investments gained $2.02 to end at $23.82 with an exchange of 662 shares, Sagicor Real Estate Fund rallied 46 cents in closing at $7.65 after 200 stock units passed through the market, Scotia Group fell $4.05 and ended at $43 with investors trading 1,010,596 units. Seprod sank $2.95 to $82.05, with 33,062 stocks crossing the market, Stanley Motta increased 65 cents to end at $7.50 with traders dealing in 8,000 units, Supreme Ventures declined 41 cents in closing at $24.54 as investors exchanged 28,966 stocks. Sygnus Credit Investments shed 59 cents to close at $10.63 in trading 92,189 shares and Wisynco Group advanced 55 cents and ended at $21.05 after an exchange of 364,778 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The market closed with trading of 32,587,303 shares for $270,744,190 compared with 30,745,022 units at $197,877,221 on Monday.
The Main Market ended trading with an average PE Ratio of 14.2. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
MPC Caribbean Clean Energy skidded $29.48 to $80 with an exchange of 1,330 stocks, NCB Financial popped $1.75 to $68.75 with an exchange of 36,300 stock units. Pan Jamaica gained $3.64 and ended at $50.20 as investors exchanged 73 shares, Portland JSX popped 30 cents to $10.80 after investors traded 17 stocks, Proven Investments dropped $2.69 to $21.80, with an exchange of 29,022 units. Sagicor Group advanced 95 cents in closing at $40.95 with investors trading 11,250 stock units, Scotia Group rose $3.03 to $47.05 in switching ownership of 33,894 shares and Wisynco Group declined 70 cents to end at $20.50 with investors dealing in 20,846 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The market closed with 30,745,022 shares trading for $197,877,221 up from 24,192,561 units at $99,647,338 on Friday.
The All Jamaican Composite Index plunged 5,470.97 points to end at 366,963.57, the JSE Main Index sank 3,675.03 points to 328,753.40 and the JSE Financial Index lost 0.98 points to settle at 69.77.
NCB Financial declined $1.55 to end at $67 with investors dealing in 25,709 units, 138 Student Living advanced 57 cents in closing at $3.60, with 100,092 shares changing hands, Pan Jamaica rose 46 cents to $46.56 and closed after 5,548 stock units changed hands. Portland JSX sank 30 cents to close at $10.50 in an exchange of 1,001 shares, Proven Investments gained 73 cents to end at $24.49 with traders dealing in 101,426 stocks, Sagicor Group skidded 50 cents and ended at $40, with 37,170 units crossing the market. Sagicor Real Estate Fund fell 75 cents to $7.25 after an exchange of 950,572 stock units, Scotia Group sank $1.98 to close at $44.02 in trading 67,102 shares and Seprod dipped $4.90 in closing at $85 after 19,924 stocks crossed the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
with an average of 28 and 20 excluding the highest PE ratios, and a PE of 25 for the top half and 18 excluding the stocks with overweight values.
remove emotions in selecting stocks for investments that often result in costly mistakes.
The market closed with 24,192,561 shares being traded for $99,646,238 compared with 566,948,248 units at $597,471,743 on Thursday.
The All Jamaican Composite Index rallied 1,873.44 points to 372,434.54, the JSE Main Index rose 1,493.04 points to 332,428.43 and the JSE Financial Index inched 0.07 points higher to 70.75.
Guardian Holdings popped $1 to $369, with 100 units crossing the exchange. Jamaica Producers advanced $1.89 and ended at $24 in trading 55,017 stocks, Jamaica Stock Exchange rose 57 cents $10.70 after 13,929 stocks passed through the market, Kingston Wharves dipped $1.49 to $33.50 after an exchange of 18,042 shares. Margaritaville fell $1.74 to end at $14.25 with 49 units clearing the market, Sagicor Group rallied 50 cents to $40.50 while 13,647 stocks were traded and Supreme Ventures skidded $1 and ended at $25 with traders dealing in 1,013,897 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading ended with 59 securities on Wednesday and Thursday, resulting in prices of 18 stocks rising, 23 declining and 18 ending unchanged as the prices of two stocks closed at yearly highs and two at yearly lows, with 138 Student Living falling to $3.02 and Sagicor Group declining to $40, with Eppley ending at $42 and JMMMB Group 7.15% closing at $3.40.
The Main Market ended trading with an average PE Ratio of 14. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Massy Holdings dropped $3.45 and ended at $90 after investors traded 21,790 stocks, MPC Caribbean Clean Energy rose $23.38 to end at $109.48 in trading 70 units, 138 Student Living lost 48 cents in closing at a 52 weeks’ low of $3.02, with 35,000 stocks changing hands. Pan Jamaica skidded $5.71 to close at $46.09 with investors trading 61,187 units, Proven Investments gained $2.28 to end at $23.95, with 535 shares crossing the market, Pulse Investments advanced 33 cents to close at $2.12 as investors exchanged 176,862 stock units. Sagicor Group fell $1 to close at $40 after an exchange of 552,299 shares, Scotia Group dipped $1.15 and ended at $45.80 with investors transferring 25,668 units and Supreme Ventures declined 31 cents to end at $26 after an exchange of 274,846 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The Main Market closed with an average of 1,184,100 shares trading at $1,999,961 compared to 178,249 units at $811,450 on Tuesday and month to date, an average of 492,724 units at $1,329,872,in comparison with 260,955 units at $1,105,240 on the previous day and February with an average of 385,143 units at $3,418,046.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and three with lower offers.
NCB Financial gained $1.40 to end at $68.65 with an exchange of 8,682 stocks, 138 Student Living dipped 63 cents in closing at $3.50 with 81,310 shares crossing the market, Proven Investments lost $2.02 and ended at $21.67 with investors dealing in 3,434 units. Sagicor Group skidded 78 cents to close at $41 after trading of 202,746 stock units, Scotia Group popped 45 cents to close at $46.95 as investors exchanged 23,299 shares and Seprod climbed $5 to end at $90 with 5,657 stocks changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.