3 new ICTOP10 listings as Spur Tree exists

January 15, 2022 by IC Insider.com

The Junior Market ICTOP10 stocks have three new listings in a week that saw Spur Tree Spices trading for the first time on Friday with the price climbing to $1.32 for a rise of 32 percent since the Initial Public offer at the end of 2021, there are no new Main Market listings.
Other stocks that were in the spotlight this past week were ones that lasted off to record new all-time highs and include AMG Packaging, Caribbean Assurance Brokers, Caribbean Producers and Dolphin Cove a TOP10 contender up to the week ending December 2, also hit a 52 weeks’ high of $23.50 this past week to be up more than 100% since it came into the top flight in August last year at $9.86.
With the rise in the price of Spur Tree Spices, the stock is one of four to move out of the TOP10, followed by Medical Disposables that 16 percent for the week and Caribbean Cream that reported terrible third quarter results with a loss being made in the period as revenues climbed 14 percent in the quarter. Coming into the TOP10 are Lumber Depot, Fontana and General Accident.
Junior Market, AMG Packaging rose a strong 45 percent, ahead of the first quarter results to November that showed profit after tax jumping a big 146 percent over 2020. Investors can expect more gains to come this coming week as the stock traded up $3.90 last week. Caribbean Assurance Brokers climbed to a new 52 weeks’ high during the week and closed $3.12 up 26 percent, Access Financial Services continues to seesaw and recovered 17 percent to $20 this past week and Elite Diagnostic gained 8 percent to $3.18.
The sharp price movements in the Junior Market reduced the potential gains markedly, with the average gains projected for the TOP 10 Junior Market stocks now 122 percent versus 148 percent last week.
The top three stocks are Access Financial Services followed by Lasco Distributors and Caribbean Assurance Brokers can gain between 124 and 160 percent, sharply down from 182 and 204 percent, previously.
Major Main Market TOP10 moving stocks are Caribbean Producers up 7 percent, to $15.99 and Radio Jamaica rallying 7 percent to $3.45 as increased buying interest came in for the stock.
The potential gains for Main Market stocks moved from 146 percent to this weeks’ 144 percent this week, with top three Main Market stocks being Guardian Holdings followed by JMMB Group and Radio Jamaica all projected to gain between 161 and 257 percent up from 199 and 258 percent last week.
The Junior Market closed the week, with an average PE of 14.7 based on ICInsider.com’s 2021-22 earnings and is currently well below the target of 20 and the average of 17 at the end of March this year based on 2020 earnings. The TOP 10 stocks trade at a PE of a mere 9.1, with a 38 percent discount to that market’s average.
The Junior Market can gain 36 percent to March this year, based on an average PE of 20 and 16 percent based on an average PE of 17. Eleven stocks representing 26 percent of all Junior Market stocks with positive earnings are trading at or above this level averaging 25.
The average PE for the JSE Main Market is 16.4, just 16 percent less than the PE of 19 at the end of March and 22 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 8.5 representing a 48 percent discount to the market and well below the potential of 20. A total of 14 stocks or 30 percent 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 the 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.

Filed Under: Buy Rated Tagged With: Access Financial, Caribbean Producers, Daily Trading, Dolphin Cove, Emerging markets, GraceKennedy, Guardian Holdings, Jamaican Stock Exchange, Jamaican stocks, JMMB Group, junior market, Lasco Distributors, Lasco Financial, Medical Disposables, PANJAM Investment, Radio Jamaica, Scotia Group, Spur Tree Spicies, Stocks to Watch, Sygnus Credit Investments, TOP 10 stocks, Trading Activity, Victoria Mutual Investments

Spur Tree Spices gains 32% on listing debut

January 14, 2022 by IC Insider.com

Newly listed Spur Tree Spices gained 32 percent after climbing 32 cents to an all-time high of $1.32 after exchanging 56,569 stocks on the first day listed on the Jamaica Stock Exchange Junior Market on Friday and helping the overall volume of stocks traded to jump 234 percent and the value surging 326 percent higher than on Thursday after nearly 13 million units of Fontana shares passed through the market with a value of $96 million.
A total of 40 securities trading compared to 35 on Thursday and ended with 14 rising, 15 declining and 11, closing unchanged.
At the close, the Junior Market Index lost 13.25 points to end at 3,470.17.
The PE Ratio, a measure used to compute appropriate stock values, averages 14.7 The PE ratio of each stock shown in the chart below is based on ICInsider.com earnings forecast for companies with financial years up to August 2022.
Some 19,875,289 shares traded for $123,323,735 compared to 5,944,460 units at $28,932,503 on Thursday. Fontana led trading with 12.91 million shares for 65 percent of total volume followed by Lumber Depot with 1.46 million stock units for 7.3 percent of the day’s trade and iCreate with 1.09 million units for 5.5 percent market share.
Trading averaged 496,882 shares at $3,083,093 in contrast to 169,842 shares at $826,643 on Thursday with the month to date averaging 176,097 units at $819,178, compared to 137,680 units at $548,051 on Thursday. December closed with an average of 409,209 units at $1,318,877.
Investor’s Choice bid-offer indicator shows no stock ending with the bid higher than the last selling price and four closed with lower offers.
At the close, Access Financial rallied 89 cents to end at $20, with 8,659 shares crossing the exchange, AMG Packaging popped 17 cents in closing at a 52 weeks’ high of $3.40 while exchanging 240,608 units, Blue Power shed 30 cents ending at $3.35 in an exchange of 156 stock units. CAC 2000 rose 30 cents to $8.30 after exchanging 100 stocks, Caribbean Assurance Brokers advanced 11 cents to close at a 52 weeks’ high of $3.12 in switching ownership of 225,543 units, Caribbean Cream lost 11 cents to close at $5.89 in trading 38,557 stocks. Consolidated Bakeries popped 12 cents to $1.33 with 20,609 shares changing hands, Dolphin Cove declined 95 cents to end at $19.05, with 385,686 stock units clearing the market, Elite Diagnostic climbed 9 cents in closing at $3.18 after trading 103,682 stock units. General Accident increased 28 cents in ending at $6.29 after exchanging 20,043 shares, Honey Bun dropped 10 cents in closing at $9 with the swapping of 63,479 units, Indies Pharma fell 19 cents to close at $3.01 in trading 202,836 stocks. Lasco Distributors declined 5 cents to $3.10, with 224,695 units changing hands, Lasco Manufacturing lost 15 cents to end at $4.70 after 5,828 shares crossed the market, Limners and Bards fell 9 cents to $3.40 after an exchange of 451,750 stocks. Mailpac Group dropped 20 cents to close at $3.10 trading 671,259 stock units, Main Event shed 45 cents in ending at $4.30 with an exchange of 611 units, Medical Disposables fell 10 cents to $7.40 in an exchange of 3,500 shares. Paramount Trading rose 18 cents in closing at $1.48 while exchanging 17,226 stock units, Stationery and Office Supplies rose 10 cents to $5.85 after exchanging 2,752 shares and Tropical Battery inched 5 cents up to $1.28 in switching ownership of 35,902 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: Access Financial, AMG Packaging, Best performing stock market, Blue Power, CAC2000, Cargo Handlers, Caribbean Assurance Brokers, Caribbean Cream, Caribbean Flavours, Caribbean Producers, Consolidated Bakeries, Daily Trading, Derrimon Trading, Dolphin Cove, Elite Diagnostic, Emerging markets, Everything Fresh, Express Catering, FESCO, Fontana, FosRich, Future Energy Source, General Accident, GWest, Honey Bun, iCreate, Indies Pharma, Jamaica Stock Exchange, Jamaican stocks, Jamaican Teas, Jetcon Corporation, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Limners and Bards, Main Event, Medical Disposables, Paramount Trading, Spur Tree Spices, Stationery and Office, Trading Activity, tTech

Junior Market stocks end with sharp jump

January 13, 2022 by IC Insider.com

Bulls pushed the Jamaica Stock Exchange up sharply in trading on Thursday, with the Market Index surging 62.93 points to settle at 3,483.42, with the volume of stocks traded declining 34 percent and the value falling by 13 percent lower than on Wednesday on a day when rising stocks outdid those declining on a two to one ratio as three stocks high 52 weeks’ highs.
A total of 35 securities traded versus 39 on Wednesday and ended with 17 rising, nine declining and nine ending unchanged.
The PE Ratio, a measure used to compute appropriate stock values, averages 14.9. The PE ratio of stocks in the chart below is computed based on ICInsider.com earnings forecast for companies with financial years up to August 2022.
A total of 5,944,460 shares traded for $28,932,503 down from 8,986,092 units at $33,239,994 on Wednesday. Caribbean Assurance Brokers led trading with 1.6 million shares for 26.9 percent of total volume as the price ended at a 52 weeks’ high of $3.01. Lumber Depot followed, with 749,354 units for 12.6 percent of the day’s trade and Limners and Bards with 692,009 units for 11.6 percent market share.
Trading averaged 169,842 shares at $826,643, compared to 230,413 shares at $852,308 on Wednesday and the month to date, averaging 137,680 units at $548,051 versus 133,915 units at $515,440 on Wednesday. December closed with an average of 409,209 units at $1,318,877.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and one stock with a lower offer.
At the close, Access Financial jumped $1.51 to end at $19.11 in switching ownership of 1,000 shares, AMG Packaging climbed 38 cents to end at a 52 weeks’ high of $3.23 with an exchange of 274,387 stock units, Blue Power increased 26 cents to $3.65 after trading 2,000 stocks. Caribbean Cream rallied 80 cents to close at $6 after 47,952 units changed hands, Dolphin Cove gained 40 cents to end at a 52 weeks’ high of $20, with 589,607 stocks clearing the market, Elite Diagnostic popped 11 cents in ending at $3.09 after trading 92,188 shares. Express Catering fell 15 cents to close at $5.20 after an exchange of 85,633 units, Fontana rose 15 cents in closing at $7.40 trading 51,622 stock units, Fosrich spiked 50 cents to end at $12, with 19,555 stock units crossing the market. Honey Bun lost 38 cents to end at $9.10 in exchanging 86,553 shares, Lasco Manufacturing advanced 35 cents in closing at $4.85 with 11,046 units crossing the market, Limners and Bards declined 21 cents in ending at $3.49 with the swapping of 692,009 stocks. Mailpac Group dipped 10 cents to $3.30, with 308,749 stocks changing hands, Medical Disposables rallied 80 cents to end at $7.50 in an exchange of 13,323 units and tTech shed 40 cents to close at $4.30 in trading 2,820 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: Access Financial, AMG Packaging, Best performing stock market, Blue Power, CAC2000, Cargo Handlers, Caribbean Assurance Brokers, Caribbean Cream, Caribbean Flavours, Caribbean Producers, Consolidated Bakeries, Daily Trading, Derrimon Trading, Dolphin Cove, Elite Diagnostic, Emerging markets, Everything Fresh, Express Catering, FESCO, Fontana, FosRich, Future Energy Source, General Accident, Honey Bun, iCreate, Indies Pharma, Jamaica Stock Exchange, Jamaican stocks, Jamaican Teas, Jetcon Corporation, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Limners and Bards, Medical Disposables, Paramount Trading, Stationery and Office, Trading Activity, tTech

Gains for JSE Junior Market

January 12, 2022 by IC Insider.com

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Trading closed on Wednesday, with the volume of stocks traded jumping 92 percent higher and the value rising 100 percent higher than on Tuesday leading to rising stocks outdistancing those falling at the close of the Jamaica Stock Exchange Junior Market.
Market activity led to 39 securities trading, up from 35 on Tuesday and ended with 15 rising, 12 declining and 12 closing unchanged as the Junior Market Index advanced 19.83 points to 3,420.49. The PE Ratio, a measure used to compute appropriate stock values, averages 14.8. The PE ratio of each stock shown in the chart below is based on ICInsider.com earnings forecast for companies with financial years up to August 2022.
Trading saw an exchange of 8,986,092 shares for $33,239,994, up from 4,676,723 units at $16,609,083 on Tuesday. Lasco Manufacturing led trading with 3.44 million shares for 38.3 percent of total volume followed by Consolidated Bakeries with 1.09 million units for 12.1 percent of the day’s trade and Limners and Bards, 653,067 units, with 7.3 percent market share.
Trading averaged 230,413 shares at $852,308 compared to 133,621 shares at $474,545 on Tuesday and month to date, an average of 133,915 units at $515,440, compared to 119,440 units at $464,910 on Tuesday. December closed with an average of 409,209 units at $1,318,877.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and two stocks with lower offers.
At the close, Access Financial popped 51 cents to end at $17.60 after an exchanging of 1,036 shares, AMG Packaging increased 23 cents ending at $2.85 after trading 318,761 stock units, CAC 2000 gained 30 cents in closing at $8 while exchanging 1,110 stock units. Caribbean Assurance Brokers climbed 23 cents to a 52 weeks’ high of $2.97 with 197,240 units changing hands, Caribbean Cream declined 55 cents to close at $5.20 after trading 37,054 stock units, Derrimon Trading lost 6 cents to close at $2.17 with 208,244 shares crossing the market. Dolphin Cove rose 40 cents to close at a 52 weeks’ high of $19.60 in exchanging 249,869 stocks, Express Catering dropped 5 cents in closing at $5.35 trading 63,402 units, General Accident shed 35 cents in ending at $6 with 34,138 stocks crossing the market. Honey Bun fell 21 cents to $9.48 in switching ownership of 70,350 shares, Iron Rock Insurance popped 31 cents to close at $3.41 following an exchange of 2,013 units, Jamaican Teas dropped 7 cents in closing at $3.90 after 168,702 stock units cleared the market. Jetcon Corporation advanced 7 cents to 92 cents as 15,073 units changed hands, KLE Group rallied 5 cents to $2.55 with an exchange of 1,077 stock units, Knutsford Express climbed 45 cents to end at $8 in trading 8,237 shares. Lasco Distributors fell 5 cents to end at $3.15 with the swapping of 163,671 stocks, Lasco Financial declined 5 cents to $3.29, with 4,619 stocks changing hands, Lasco Manufacturing shed 9 cents in closing at $4.50 after an exchange of 3,442,151 stock units. Main Event increased 25 cents to $4.75 in exchanging 17,000 units and tTech gained 45 cents to close at $4.70, with 3,500 shares clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: Access Financial, AMG Packaging, Best performing stock market, CAC2000, Cargo Handlers, Caribbean Assurance Brokers, Caribbean Cream, Caribbean Flavours, Caribbean Producers, Consolidated Bakeries, Daily Trading, Derrimon Trading, Dolphin Cove, Elite Diagnostic, Emerging markets, Everything Fresh, Express Catering, FESCO, Fontana, FosRich, Future Energy Source, General Accident, Honey Bun, iCreate, Indies Pharma, Jamaica Stock Exchange, Jamaican stocks, Jamaican Teas, Jetcon Corporation, KLE Group, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Limners and Bards, Main Event, Medical Disposables, Paramount Trading, SSL Venture Capital, Stationery and Office, Trading Activity, tTech

More risers than decliners but index slips

January 11, 2022 by IC Insider.com

Fewer companies’ stocks traded on Tuesday, leading to a slippage in the volume by 14 percent but the value rising by 15 percent higher than on Monday at the close of the Jamaica Stock Exchange Junior Market.

Dolphin Cove closed at a 52 weeks’ high on Tuesday.

Market activity led to 35 securities trading compared to 38 on Monday and ended with 15 rising, nine declining and 11 closing unchanged. The Junior Market Index dropped 16.62 points to settle at 3,400.66.
The PE Ratio, a measure used to compute appropriate stock values, averages 14.5. 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.
Trading ended with 4,676,723 shares for $16,609,083 compared to 5,461,309 units at $14,393,557 on Monday. Jamaican Teas led trading with 1.24 million shares for 26.4 percent of the total volume followed by Future Energy Source, 838,006 units for 17.9 percent of the day’s trade and Tropical Battery, 526,823 units with 11.3 percent market share.
Trading averaged 133,621 shares at $474,545 compared to 143,719 shares at $378,778 on Monday and month to date, an average of 119,440 units at $464,910, versus 117,234 units at $463,411 on Monday.December closed with an average of 409,209 units at $1,318,877.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than the last selling price and two with lower offers.
At the close, AMG Packaging fell 28 cents to $2.62 in trading 1,483 shares, Dolphin Cove rose $2.45 in ending at $19.20 with an exchange of 164,259 stocks, Everything Fresh climbed 6 cents to end at 98 cents in switching ownership of 45,928 units. Express Catering advanced 5 cents to $5.40 trading 13,925 stock units, Fontana popped 15 cents to close at $7.25 after 62,032 stocks changed hands, Fosrich rallied 50 cents to end at $11.50 after exchanging 38,098 stock units. Future Energy Source gained 5 cents to end at $2.99, with 838,006 units clearing the market, Honey Bun dropped 6 cents in closing at $9.69 with the swapping of 9,875 shares, Indies Pharma popped 10 cents to close at $3.20 after trading 10,747 units. Jetcon Corporation fell 5 cents to 85 cents in exchanging 22,000 stocks, KLE Group gained 25 cents in closing at $2.50, with 2,742 stock units changing hands, Knutsford Express declined 45 cents to close at $7.55 in trading 728 shares. Limners and Bards increased 15 cents to end at $3.70 with an exchange of 44,053 units, Main Event rose 30 cents to $4.50, with 2,470 stock units crossing the market, Medical Disposables climbed 21 cents in ending at $6.70 after exchanging 65,529 stocks. Stationery and Office Supplies advanced 9 cents to $5.70 while trading 5,600 shares and tTech shed 53 cents to close at $4.25 in an exchange of 1,579 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Junior Market Tagged With: Access Financial, AMG Packaging, Best performing stock market, Blue Power, CAC2000, Cargo Handlers, Caribbean Assurance Brokers, Caribbean Cream, Caribbean Flavours, Caribbean Producers, Consolidated Bakeries, Daily Trading, Derrimon Trading, Dolphin Cove, Elite Diagnostic, Emerging markets, Everything Fresh, Express Catering, FESCO, Fontana, FosRich, Future Energy Source, General Accident, GWest, Honey Bun, iCreate, Indies Pharma, Jamaica Stock Exchange, Jamaican stocks, Jamaican Teas, Jetcon Corporation, KLE Group, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Limners and Bards, Main Event, Medical Disposables, Paramount Trading, SSL Venture Capital, Stationery and Office, Trading Activity, tTech

The Junior Market could gain 60% in 2022

January 11, 2022 by IC Insider.com

The Junior Market continues to offer opportunities for supper stock performance in 2022 with an average PE for the market at 9 times 2022 earnings versus close to 15 at the end of 2021, and offering a potential gain of more than 60 percent to the end of 2022. There are 26 Junior Market stocks that can double in 2022.
The market is technically at a support level that is steering the index upwards, more importantly, it is caught in a triangular formation that is set to push the market sharply upwards once it breaks out, which is not far off. The market is also trading in a channel that goes back to May 2020 and is pointing to a record high of more than 4,000 points in a few months.
Last year finished with a number of stocks trading at or above 20 times earnings in the Junior Market if that level of valuation continues into 2022 then the gain in the market could exceed the above potential gains.
The market will continue to benefit from the recovery of some of the companies that suffered major fallout due to the restrictions placed on operations as a result of the COVID19 epidemic in 2020 into 2021. Stocks that could benefit in a big way are, Access Financial, Main Event, Everything Fresh, Express Catering, Knutsford Express, Jetcon Corporation, Dolphin Cove and Stationery and Office Supplies.
Access Financial – Earnings per share are projected at $4.80 for the year to March 2023 and $2.60 for the 2022 fiscal year to March. The company showed signs of recovery from the beating taken in 2020 and 2021 as a result of steep provisioning for doubtful loans and a slowdown in lending. That situation started to reverse in 2021 up to September with loans net of doubtful loans up to $4.38 billion versus $3.9 at the end of September 2020. Revenues and profit in 2021 tripled the September 2020 quarter and the 2020 half year results. This trend is expected to gather pace in 2022 and beyond. See full article on the company recently published.
AMG Packaging – Earnings per share is projected at 35 cents for the year to August 2022 as new machinery facilitates cutting costs and creating more flexibility in the manufacturing operations. See full article on the company recently published.
Caribbean Brokers – Earnings per share is projected at 40 cents for 2022. The company reported strong earnings in the September quarter, with EPS at 41 cents for the quarter and 33 cents for the nine months. The company tends to get the bulk of its income in short periods with the other quarters reflecting relatively lower income that does not cover the cost. Unfortunately, the company failed to provide investors with appropriate information to fully glean what the results will mean for the full year and beyond. The end result is that the stock has suffered from investors’ interest when it really should have surged well over $4 per share, based on the latest results and what can be expected for the full year.
Elite Diagnostic – Earnings per share are projected at 80 cents for the year to June 2023. The stock is under pressure but that is due to investors not paying adequate attention to what the company is doing and the improvement in sales, quarter over quarter as well as the strong cash flow it’s generating. See full article on the company recently published.
Medical Disposables – Earnings per share are projected at $1.50 cents for the year to March 2023.

Technical indicators for the Junior Market are pointing to a record high of more than 4,000 points in a few months.

Profit after taxation surged 455 percent to $21.5 million for the second quarter to September from a loss of $6 million in 2020. For the year to date, profit after tax spiked 458 percent to $47 million, up from a loss of $13 million in 2020. Income from sales jumped 49 percent to $936 million for the September quarter, up from $630 million in 2020 and climbed 42 percent for the six months ended September 2021 to $1.62 billion, from $1.14 billion in the prior year. The acquisition of majority ownership of Cornwall Enterprises along with new distributorships helped in fueling the sales surge. See full article on the company recently published
Caribbean Cream – Earnings per share is projected at $1.30 cents for the year February 2023 from 65 cents projected for the 2021 fiscal year. Management is building an enterprise that can go up against the competition successfully and deliver superior returns for shareholders. They have cut costs in the past two years and grew their market reach by setting up a distribution depot in the Ocho Rios region that helped to push sales. The implementation of their own power generating plant will lead to a reduction of energy and other utility costs. Excluding the slowdown in sales in the August quarter when the government introduced no movement days, sales increase is been robust and is expected to be on track again for the second half of the year into the 2023 fiscal year.
Dolphin Cove – Earnings per share is projected at $3 for this year and $1.35 for 2021. This company is in a period of major recovery with profit surging and set to get even better with the tourism industry rebounding strongly and closing in on 2019 arrivals. See full article on the company recently published.
Spur Tree Spices – Earnings per share is projected at 19 cents for this year. A recent IPO, this stock is set to do extremely well over the next few years. Expect local sales to surge as a result of the publicity they received due to the IPO. See full article on the company recently published.
Stationery and Office Supplies – Earnings per share is projected at 95 cents for the current year and reflect a full recovery from the fall out of the Covid19 disruption to sales. The company has made major strides since 2020 when sales were badly affected by the shutdown of businesses and schools. That has changed and the company posted a 175 percent increase in pre-tax profit of $78 million versus $29 million for the nine months to September 2020, from a 13.5 percent rise in revenues. Earnings per share for the third Quarter of 2021 was 8 cents, compared to 3 cents in 2020. For the 9 months ended September 2021 earnings per share was up to 31 cents from 11 cents in 2020. reports are that the company had the best four quarter in its history and the performance seems to have carried over into 2022 and should continue to be robust with opening and expansion in the wider economy.
Lasco Distributors – Earnings per share is projected at 50 cents for the year to March 2023. For the half year to September, revenues rose 15 percent to $11.6 billion and profit increased 6 percent to $615 million as margins were squeezed in the period from higher input cost, followed by delayed price increase. With price adjustments since implemented, margins should increase and result in higher profits. Revenues should pick up as tourist traffic rose sharply throughout the year and schools are now back in operation both activities will impact revenues positively.
With earnings per share of 14 cents for the half year, full year earnings should exceed 30 cents making the stock undervalued at $3.45 with a PE of 11, versus the market average of just over 14.
The company has no borrowed funds and possesses $2.8 billion in cash funds, with annual gross cash flows of over $1.2 billion.
Everything Fresh – Earnings per share is projected at 15 cents for the year. The company seems to have turned the corner with a small profit in the September quarter. Importantly, gross cash flow for the nine months to September was positive at $15 million despite a loss of $20 million. The hotel sector is enjoying a strong rise in visitor arrivals with December last year down 24 percent compared to 2019 compared to a fall of 45 percent for 2021 versus 2019 preliminary data shows, this is a very positive development for the company going forward. The current year should see an even greater number of visitors that should better the performance in December. This is good news for a company that markets the bulk of sales to that sector.
Lasco Financial – Earnings per share is projected at 45 cents for the year March 2023. Net Profit for the second quarter ended at $134 million compared with $30 million in the similar period of 2020. The second quarter suffered revenue reduction from $617 million in 2020 to $554 million in 2021, due to disruption in business during the period as a result of no movement days, while cost rose from $400 million to $424 million leaving profit after tax at $59 million from $136 million in 2020. Earnings per share ended September at 10.5 cents and that should climb sharply in the second half with the impact of the high volume Christmas period having a positive impact. The company has cash funds of $1.7 billion at the end of the period as they curtailed lending.
Lasco Manufacturing – Earnings per share is projected at 60 cents for the year March 2023. For the half year to September, revenues rose 13 percent over the $4.1 billion generated in 2020 to $4.65 billion and profit popped 6 percent to $782 million, but the second quarter saw profit falling 3.8 percent to $380 million from revenues that increased 2.7 percent to $2.34 billion. Earnings per share came in at 19 cents for the half year on target for around 40-45 cents for the full year as margins increase based on price adjustments.
Cash on hand stood at $1.8 billion with borrowings at $600 million.
General Accident – Earnings per share are projected at 80 cents for the year.

General Accident spreading wings

Net profit after tax of $351 million, was generated for the nine months to September up from $125 million in 2020, with earnings per share of 39 cents versus 14 cents in 2020. Profit in the third quarter was $177 million compared to just $12 million in 2020. Earnings per share in the September quarter was 19 cents.
The company is in an expansion mode, with the establishment of operations in Barbados and Trinidad and Tobago, with both operations expected to break even in 2022. Higher interest rates locally and the ability to increase investment in higher yielding assets are measures expected to boost investment income in 2022.
Jetcon Corporation – Earnings per share is projected at 15 cents for the year but don’t be surprised if it ends as high as 25 cents, depending on how rapid sales increase becomes. On a recovery path from the pandemic slump in 2020, revenues to September 2021 were up 30 percent but and should end the year above that level based on what the company reported in the third quarter, that sales for the fourth quarter are strong, with units sold in November back at regular pre-pandemic levels and already exceeded sales for the third quarter, at $196 million with the upward swing continuing into December, and with increased bookings to date. The improved sales position in the final quarter should result in an increased gross profit margin and a better net position than in 2020.
The above developments augur well for 2022 that should see revenues climbing appreciably again, with growth of 50 percent not out of the picture. If that were to happen it could lift profit margins closer to 20 percent from much lower levels in 2020 and 2021.
Bonus Pick
Honey Bun is our bonus pick for the year. Earnings per share are projected at $1 for the year to September 2022, as revenues continue to climb at a healthy pace. Earnings may be too low for it to qualify for the TOP15, but the stock could double from its current price of $9.30 per share during the year.

Filed Under: Buy Rated, Feature Stories, Investment 2024, JSE Junior Market, Stock Market Tagged With: Access Financial, Dolphin Cove, Emerging markets, Everything Fresh, Express Catering, Honey Bun, Jamaican Stock, Jetcon Corporation, junior market, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Main Event, Stationery and Office Supplies

Meager gains for Juniors as rising stocks beat out losers

January 10, 2022 by IC Insider.com

Trading closed on Monday, with the volume of stocks traded rising 59 percent and the value rising 22 percent higher than on Friday as the prices of stock rising exceeded those declining on the Jamaica Stock Exchange Junior Market two to one.
Market activity led to 38 securities trading similar to trading on Friday and ended with 19 rising, nine declining and 10 ending unchanged. At the close, the Junior Market Index popped 5.44 points to 3,417.28.
The PE Ratio, a measure used to compute appropriate stock values, averages 14.5. The PE ratio of each stock in the chart below is based on ICInsider.com earnings forecast for companies with financial years, to August 2022.
Overall, 5,461,309 shares changed hands for $14,393,557 versus 3,426,726 units at $11,765,999 on Friday. Caribbean Assurance Brokers led trading with 1.25 million shares for 22.9 percent of total volume followed by Future Energy Source with 600,408 units for 11 percent of trading and Consolidated Bakeries with 550,740 units for 10.1 percent market share.
Trading averaged 143,719 shares at $378,778 in contrast to 90,177 units at $309,632 on Friday and month to date, an average of 117,234 units at $463,411, compared to 111,853 units at $480,609 on Friday. December closed with an average of 409,209 units at $1,318,877.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, AMG Packaging spiked 56 cents in ending at a 52 weeks’ high of $2.90 with 180,309 shares changing hands, Cargo Handlers popped 39 cents to $7.50 after exchanging 5,812 stock units, Caribbean Assurance Brokers gained 27 cents to close at $2.75 while trading 1,251,586 units. Dolphin Cove popped 85 cents in closing at $16.75 in an exchange of 70,604 stocks, Everything Fresh shed 8 cents to end at 92 cents after 11,113 stocks changed hands, Fontana dropped 30 cents in closing at $7.10 after trading 58,447 units. Fosrich fell $1 to close at $11 after exchanging 32,245 stock units, GWest Corporation climbed 10 cents to end at $1, with 32,240 shares crossing the exchange, Honey Bun advanced 45 cents to $9.75 in trading 8,855 stocks. Jetcon Corporation rose 7 cents to 90 cents, with 74,659 units crossing the market, KLE Group dropped 72 cents to $2.25 trading 164 stock units, Knutsford Express rallied 10 cents to $8, with 8,633 shares crossing the market. Lasco Financial climbed 14 cents in closing at $3.34 with an exchange of 24,670 stocks, Lasco Manufacturing declined 5 cents to end at $4.60, with 10,189 shares clearing the market, Lumber Depot lost 15 cents to close at $2.88, with 440,341 stock units changing hands. Main Event increased 19 cents to $4.20 in switching ownership of 602 units, Medical Disposables advanced 12 cents to $6.49 in exchanging 24,880 units and Stationery and Office Supplies shed 9 cents in ending at $5.61 as 8,929 stocks were traded.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: Access Financial, AMG Packaging, Best performing stock market, Blue Power, CAC2000, Cargo Handlers, Caribbean Assurance Brokers, Caribbean Cream, Caribbean Flavours, Caribbean Producers, Consolidated Bakeries, Daily Trading, Derrimon Trading, Dolphin Cove, Elite Diagnostic, Emerging markets, Everything Fresh, Express Catering, FESCO, Fontana, FosRich, Future Energy Source, General Accident, GWest, Honey Bun, iCreate, Indies Pharma, Jamaica Stock Exchange, Jamaican stocks, Jamaican Teas, Jetcon Corporation, KLE Group, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Limners and Bards, Main Event, Medical Disposables, Paramount Trading, Stationery and Office, Trading Activity

ICTOP10 scaling new highs

January 9, 2022 by IC Insider.com

Main Market TOP10 stock, Sagicor Group price fell to $52.31 to return to the TOP10 after closing the previous week at $58 and replaced by Scotia Group that slipped from $36 to $35.50 as both the Main and Junior Markets displayed some bullish signs in the past week, with Caribbean Producers hitting a record high of $15 and gained 436 percent in just over a year.

Sagicor Group back in ICTOP10.

Other big news for the week was the continued rise of ICTOP10 Main Market stock, Caribbean Producers that closed the week with a gain of 15 percent at a record high of $15 and is now in the sixth spot with the potential to gain another 120 percent in months. Radio Jamaica rose 7 percent for the week to $3.23 and Guardian Holdings rose 5 percent.
Junior Market AMG Packaging rose 6 percent but could climb higher with the first quarter results to November, due this coming week and the company is also expected to announce a dividend. Lasco Financial put on 7 percent to land at $3.20, Elite Dynastic gained 4 percent to $2.95, Caribbean Assurance Brokers climbed as high as $2.75 during the week but closed down at $2.48 for a 3 percent gain, and Access Financial Services fell 10 percent to $17.08 and Lasco Distributors lost 6 percent to $3.20.
Elsewhere, investors in the Spur Tree Spices Initial Public offer will receive just over 11.76 percent of the shares they applied for in the heavily oversubscribed issue that is sure to drive the stock price with a big bang in the first week of trading which should be ahead of the end of January.
The top three Main Market stocks, this week are Guardian Holdings followed by JMMB Group and Radio Jamaica all projected to gain between 199 and 258 percent up from 183 and 261 percent last week.
The Junior Market’s top three stocks for the week are Access Financial Services followed by AMG Packaging and Caribbean Assurance Brokers. All three can gain between 182 and 204 percent versus 174 and 218 percent, previously.
The average gains projected for the TOP 10 Junior Market stocks is 148 percent and Main Market stocks moved from 152 percent to this weeks’ 146 percent.
The Junior Market closed the week, with an average PE of 14.8 based on ICInsider.com’s 2021-22 earnings and is currently well below the target of 20 and the average of 17 at the end of March this year based on 2020 earnings. The TOP 10 stocks trade at a PE of just 8.2, with a 45 percent discount to that market’s average.
The Junior Market can gain 35 percent to March this year, based on an average PE of 20 and 15 percent based on an average PE of 17. Ten stocks representing 26 percent of all Junior Market stocks with positive earnings are trading at or above this level and averaging 25.
The average PE for the JSE Main Market is 16.4, just 16 percent less than the PE of 19 at the end of March and 22 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 8.4 representing a 49 percent discount to the market and well below the potential of 20. A total of 14 stocks or 30 percent 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 the 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.

Coming soon reports

Filed Under: Buy Rated Tagged With: Access Financial, Caribbean Assurance Brokers, Caribbean Producers, Daily Trading, Dolphin Cove, Emerging markets, GraceKennedy, Guardian Holdings, Jamaican Stock Exchange, Jamaican stocks, JMMB Group, junior market, Lasco Distributors, Lasco Financial, Medical Disposables, PANJAM Investment, Radio Jamaica, Scotia Group, Spur Tree Spicies, Stocks to Watch, Sygnus Credit Investments, TOP 10 stocks, Trading Activity, Victoria Mutual Investments

Junior Market suffers sharp fall

January 7, 2022 by IC Insider.com

The Jamaica Stock Exchange Junior Market suffered a sizable pull back at the close of the market on Friday, with the volume of stocks traded declining 34 percent less and the value falling 64 percent lower than on Thursday and leading the market index into a big fall at the close.
A total of 38 securities traded compared to 39 on Thursday and ended with 11 rising, 17 declining and 10, closing unchanged and the Junior Market Index losing 32.78 points to settle at 3,411.84.
The PE Ratio, a measure used to compute appropriate stock values, averages 14.3, The PE ratio of each stock shown in the chart below is based on ICInsider.com earnings forecast for companies with financial years, up to August 2022.
A total of 3,426,726 shares changed hands for $11,765,999, down sharply from 5,199,743units at $33,066,923 on Thursday. Lumber Depot led trading with 1.2 million shares for 35.1 percent of total volume followed by Caribbean Assurance Brokers 635,609 units with 18.5 percent of the day’s trade and Indies Pharma 243,296 units for 7.1 percent market share.
Trading averaged 90,177 shares at $309,632 compared to 133,327 shares at $847,870 on Thursday and month to date, an average of 111,853 units at $480,609, against 117,381 units at $524,214 previously traded. December closed with an average of 409,209 units at $1,318,877.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Access Financial dropped $3.67 in ending at $17.08 with the swapping of 2,738 shares, CAC 2000 fell 20 cents to end at $7.70 while exchanging 50 units, Cargo Handlers shed 39 cents in closing at $7.11, with 3,600 stock units crossing the market. Caribbean Assurance Brokers declined 27 cents to close at $2.48 trading 635,609 stocks, Dolphin Cove slipped 10 cents to $15.90 in switching ownership of 90,619 stocks, Fontana lost 6 cents at $7.40 trading 49,726 stock units. General Accident fell 25 cents to $6.35, with 52,292 shares crossing the market, GWest Corporation dropped 9 cents to end at 90 cents after 110 units passed through the exchange, Indies Pharma declined 13 cents in closing at $3.07 after trading 243,296 stocks. Jetcon Corporation shed 7 cents to close at 83 cents, with 24,059 shares changing hands, Lasco Distributors declined 15 cents in closing at $3.20 in an exchange of 19,141 units, Lasco Financial advanced 8 cents to close at $3.20 after trading 54,262 stock units. Lasco Manufacturing rallied 5 cents to $4.65 with an exchange of 1,717 stocks, Limners and Bards slipped 10 cents to $3.55 after trading 52,828 shares, Lumber Depot increased 6 cents to $3.03 in exchanging 1,202,497 stock units and Stationery and Office Supplies popped 5 cents to $5.70 in trading 5,581 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: Access Financial, AMG Packaging, Best performing stock market, CAC2000, Cargo Handlers, Caribbean Assurance Brokers, Caribbean Cream, Caribbean Flavours, Caribbean Producers, Consolidated Bakeries, Daily Trading, Derrimon Trading, Dolphin Cove, Elite Diagnostic, Emerging markets, Everything Fresh, Express Catering, FESCO, Fontana, FosRich, Future Energy Source, General Accident, GWest, Honey Bun, iCreate, Indies Pharma, Jamaica Stock Exchange, Jamaican stocks, Jamaican Teas, Jetcon Corporation, KLE Group, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Limners and Bards, Medical Disposables, Paramount Trading, SSL Venture Capital, Stationery and Office, Trading Activity

Junior Market inches higher

January 6, 2022 by IC Insider.com

The Jamaica Stock Exchange Junior Market rose moderately at the close of trading on Thursday with the volume of stocks traded rising 26 percent and the value up 69 percent from Wednesday levels as the number of securities changing hands rose.
Market activity led to 39 securities trading up from 36 on Wednesday and ended with 15 rising, nine declining and 15, closing unchanged.
At the close, the Junior Market Index rose 3.95 to end at 3,448.57. The PE Ratio, a measure used to compute appropriate stock values, averages 14.5. The PE ratio of each stock shown in the chart below is based on ICInsider.com earnings forecast for companies with financial years up to August 2022.
Trading ended with 5,199,743 shares changing hands for $33,066,923 against 4,123,382 units at $19,617,436 on Wednesday. Honey Bun led trading with 3 million shares for 57.7 percent of total volume followed by Caribbean Flavours with 297,998 units for 5.7 percent of the day’s trade and Future Energy Source with 294,424 units for 5.7 percent market share.
Trading averaged 133,327 shares at $847,870 in contrast to 114,538 shares at $544,929 on Wednesday and month to date, averaging 117,381 units at $524,214, compared to 111,727 units at $409,463 on Wednesday. December closed with an average of 409,209 units at $1,318,877.
Investor’s Choice bid-offer indicator shows one stock ending with the bid higher than the last selling price and three with lower offers.
At the close, AMG Packaging rallied 13 cents to close at $2.35 after exchanging 15,409 shares, Blue Power lost 20 cents to end at $3.35 while 215 units changed hands, CAC 2000 spiked 70 cents to end at $7.90 trading 1,450 stock units. Caribbean Assurance Brokers increased 5 cents in closing at $2.75 with an exchange of 44,671 stocks, Caribbean Cream advanced 39 cents to $5.73, trading 1,028 units, Dolphin Cove climbed 50 cents in closing at $16 with the swapping of 29,920 shares. Express Catering shed 24 cents in ending at $5.35 after 12,991 stocks crossed the exchange, Fosrich popped 16 cents to close at $11.96 in trading 22,455 stock units, General Accident gained 60 cents to end at $6.60 and closed with an exchange of 8,240 units. GWest Corporation rose 9 cents to 99 cents, with 15,724 shares changing hands, Indies Pharma increased 16 cents in closing at $3.20 after exchanging 9,011 stock units and Lasco Manufacturing declined 25 cents to close at $4.60 with an exchange of 22,106 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.