The volume of stocks trading on the Jamaica Stock Exchange Junior Market on Tuesday rose moderately over Monday’s trade after 15 percent fewer funds entered the market compared to Monday, but the margin rose above Mondays’ close but ended down nearly 27 points for the month.
The market closed with 36 securities trading up from 34 on Monday and ended with 18 rising, 10 declining and eight, closing unchanged. At the close, the Junior Market Index increased 25.97 points to settle at 3,368.11.
The PE Ratio, a measure used in computing appropriate stock values, averages 14.4. The PE ratio of each stock is shown in the chart below, is based on earnings forecasted by ICInsider.com for companies with their financial year ending up to August 2022.
Trading ended with 3,944,569 shares changing hands for $13,899,422 compared to 3,434,946 units at $16,310,151 on Monday. Indies Pharma led trading with 525,785 shares for 13.3 percent of total volume, followed by iCreate with 492,593 units for 12.5 percent of the day’s trade and Future Energy Source with 449,533 units for 11.4 percent market share.
Trading averaged 109,571 shares at $386,095 in contrast to 101,028 shares at $479,710 on Monday and the month to date, averaging 160,358 units at $581,730, compared to 162,748 units at $590,936 on Monday. October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, Access Financial advanced 75 cents to $20.75, trading 8,637 shares, Caribbean Assurance Brokers rallied 7 cents to $2.49, with 44,200 stock units crossing the exchange, Consolidated Bakeries climbed 35 cents in closing at $1.51 in exchanging 5,502 units. Dolphin Cove spiked 53 cents to $13 while exchanging 232,273 stocks, Elite Diagnostic lost 14 cents to end at $3.06 with 49,422 stocks changing hands, Fosrich dropped 24 cents to $8.50 after exchanging 31,127 stock units. General Accident popped 49 cents to $6.49 as 1,100 units changed hands, Indies Pharma gained 51 cents in ending at $3.50 while exchanging 525,785 shares, Jetcon Corporation rose 18 cents to close at $1.08 in trading 4,000 shares. KLE Group shed 82 cents to $2.30 after exchanging 32,978 stocks, Knutsford Express fell 49 cents to $7.51 with the swapping of 1,467 stock units, Lasco Distributors increased 19 cents to $3.20 in switching ownership of 28,737 units. 
Limners and Bards advanced 9 cents to end at $3.69 after 139,628 stocks crossed the market, Lumber Depot popped 7 cents to close at $2.94, trading 214,857 stock units, Medical Disposables declined 93 cents in closing at $5.76, with 3,800 shares changing hands. Paramount Trading fell 17 cents to $1.04 in an exchange of 400,900 units and Stationery and Office Supplies declined 10 cents to $6, with 5,795 stocks clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Monday fall for JSE Junior Market
The Junior Market Index dropped 29.43 points to 3,342.14 in trading on Monday, with the volume traded rising moderately over Friday’s trade and the value increasing 18 percent higher at the close of trading on the Jamaica Stock Exchange Junior Market.
A total of 34 securities traded, up from 31 on Friday, ending with 11 rising, 21 declining and two closing unchanged.
The PE Ratio, a measure used to compute appropriate stock values, averages 14.4. The PE ratio of each stock shown in the chart below, is based on earnings forecasts by ICInsider.com for companies with their financial year ending up to August 2022.
Trading ended with 3,434,946 shares changing hands for $16,310,151 versus3,228,831 units at $13,859,253 on Friday. Future Energy Source led trading with 682,540 shares for 19.9 percent of total volume, followed by Mailpac Group with 319,195 units for 9.3 percent of the day’s trade and Dolphin Cove with 308,847 units for 9 percent market share.
Trading averaged 101,028 shares at $479,710 in contrast to 104,156 shares at $447,073 on Friday and month to date, averaging 162,7 8 units at $590,936, compared to 165,619 units at $596,109 on Friday. October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Access Financial dropped 80 cents to $20, trading 8,000 shares, AMG Packaging fell 10 cents to $2.15 with 1,000 stock units changing hands, Caribbean Flavours increased 25 cents to close at $1.90, trading 125,000 stocks. Consolidated Bakeries dropped 39 cents to $1.16 after exchanging 90,366 units, Dolphin Cove shed 43 cents to $12.47 in swapping 308,847 units, Express Catering lost 39 cents in closing at $5.60 with an exchange of 99,624 stock units. Fontana fell 13 cents to end at $7.50, exchanging 250,699 stocks, General Accident lost 60 cents to close at $6 while trading 4,435 shares, Indies Pharma dropped 11 cents to $2.99 in switching ownership of 2,010 shares. 
Jetcon Corporation declined 18 cents to 90 cents in an exchange of 42,376 stock units, KLE Group spiked 82 cents in closing at $3.12 in trading just 500 stocks, Lasco Distributors shed 19 cents to end at $3.01 with the swapping of 177,400 units. Lasco Manufacturing climbed 9 cents to $4.89, with 179,879 shares changing hands, Limners and Bards advanced 29 cents to $3.60 after trading 40,000 stocks, Mailpac Group popped 11 cents to close at $3.50, with 319,195 units crossing the market and Stationery and Office Supplies dropped 49 cents to end at $6.10, with 24,322 stock units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Two changes to ICTOP10 listings
The two major Jamaica Stock Exchange markets meandered all week, closing the past week with the Junior Market rising moderately and the Main Market recovering 5,228 points of the more than 12,000 lost on the last two trading days in the previous week as prices of Caribbean Cement, NCB Financial and Scotia Group rose.
Against the above backdrop, there were few changes to the ICTOP10 stocks at the week’s close. Scotia Group jumped 9 percent to end at $37.97 for the week and gave way to Carreras to return to the Main Market TOP10 after a long absence, with the price at $8.10 and projected earnings at 80 cents. The Junior Market lost Medical Disposables with the price closing at $6.72, up 29 percent for the week, allowing General Accident came in to replace it with the price at $6.60 and just edging out Fontana, with both having similar potential gains of 97 percent.
Big TOP10 movers for the week are AMG Packaging lost 6 percent in closing at $2.25 from $2.40 last week, Caribbean Cream fell 4 percent to $5.60, Elite Diagnostic dropped 8 percent to $3.20, Caribbean Assurance Brokers rose 6 percent to $2.47 and Dolphin Cove rose 3 percent to land at $12.90 after it a 52 weeks’ high of $14 on Thursday, new coronavirus making the news seemed to have induced selling on Friday. In the Main Market, Caribbean Producers jumped 15 percent to close at $10, up from $8.61 and Radio Jamaica gained 8 percent to $3.30.
The top three Main Market stocks are Guardian Holdings, Caribbean Producers and JMMB Group, projected to gain between 214 to 254 percent expected versus last weeks’ 212 to 283 percent.
The top three stocks in the Junior Market are AMG Packaging, followed by Caribbean Assurance Brokers and Access Financial Services. All three can gain between 150 and 211 percent, down from 154 percent and 207 percent previously.
There are many undervalued stocks in the market, with the average gains projected for the TOP 10 Junior Market stocks moved from 145 percent last week to 142percent and Main Market stocks moved from 163 percent to this week’s 159 percent.
The Junior Market closed the week with an average PE 14.5 based on ICInsider.com’s 2021-22 earnings and is currently well below the target of 20 and the March 2020 historical average of 17, based on 2020 earnings. The TOP 10 stocks trade at a PE of a mere 8.4, with a 42 percent discount to that market’s average PE.
The Junior Market can gain 38 percent to March next year, based on an average PE of 20 and 17 percent based on an average PE of 17. Ten stocks representing 25 percent of all Junior Market stocks with positive earnings are trading at or above this level, down from seven last week, indicating that many others will rise towards the 17 mark in the weeks ahead.
The average PE for the JSE Main Market is 16.1, which is 18 percent less than the PE of 19 at the end of March and 24 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 8, representing a 50 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 PE of 25.5, suggesting that the accepted multiple could be around 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.
Steady trading for Junior Market
Trading closed on Friday, with the volume of stocks dropping 71 percent and the value falling 43 percent below Thursday’s trades at the close of the Jamaica Stock Exchange Junior Market as the market index rose.
Market activity led to 31 securities trading, down from 37 on Thursday and ended with 17 rising, 11 declining and three, closing unchanged.
At the close, the Junior Market Index popped 16.46 points to settle at 3,371.57. The PE Ratio, a measure used to compute appropriate stock values, averages 14.5. The PE ratio of each stock is shown in the chart below, is based on earnings forecasted by ICInsider.com for companies with their financial year ending up to August 2022.
Trading ended with 3,228,831 shares changing hands for $13,859,253, down from 10,965,895 units at $24,497,350 on Thursday. Indies Pharma led trading with 1.31 million shares for 40.6 percent of total volume, followed by Dolphin Cove with 332,058 units and 10.3 percent of the day’s trade and Lasco Distributors with 280,296 units for 8.7 percent market share.
Trading averaged 104,156 shares at $447,073, down from 296,376 shares at $662,091 on Thursday and month to date an average of 165,619 units at $596,109, compared to 168,340 units at $602,709 on Thursday. October ended with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows two stocks ending, with bids higher than their last selling prices and two with lower offers.
At the close, Access Financial rallied 80 cents to $20.80 with an exchange of 10,375 shares, AMG Packaging popped 17 cents $2.25 trading 23,000 stocks, Caribbean Assurance Brokers advanced 12 cents to close at $2.47, with 93,333 units clearing the market. Caribbean Cream added 10 cents in closing at $5.60 with the swapping of 9,150 stock units, Dolphin Cove shed $1.15 to end at $12.90, with 332,058 shares crossing the exchange, Express Catering popped 19 cents to $5.99 with 43,038 stock units changing hands. Fontana increased 42 cents to $7.63 in switching ownership of 148,959 stocks, Fosrich dropped 10 cents to close at $8.75, with 10,969 units crossing the market, General Accident lost 10 cents to end at $6.60 as 75 units changed hands. GWest Corporation declined 11 cents in closing at 90 cents in exchanging 9,010 stocks, Honey Bun fell 50 cents to $10, with 55,570 shares changing hands, Indies Pharma rose 10 cents to $3.10 after trading 1,312,419 stock units. 
Jamaican Teas dropped 11 cents to close at $3.70 in trading 88,776 shares, Knutsford Express climbed 84 cents to $7.99 in an exchange of 100 stock units, Lasco Financial rose 8 cents to $3.13 after finishing trading 11,404 stocks, Limners and Bards shed 19 cents in ending at $3.31 while exchanging 225,264 units, Lumber Depot climbed 9 cents to end at $2.90 in an exchange of 154,948 stock units and Medical Disposables popped 53 cents to $6.72 after exchanging 10,000 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market drops again
Trading closed on Thursday, with the volume of stocks changing hands rising 81 percent and the value climbing 22 percent higher than on Wednesday on the Jamaica Stock Exchange Junior Market, but the robust trading gains failed to stave off a fall in the market index after opening at 3,412 points.
Market activity led to 37 securities trading compared to 36 on Wednesday and ended with 11 rising, 21 declining and five, closing unchanged. At the close, the Junior Market Index shed 12.60 points to settle at 3,355.11.
The PE Ratio, a measure used in the computation of appropriate stock values, averages 14.2. The PE ratios shown in the chart below are based on earnings forecasted by ICInsider.com for companies with their financial year ending up to August 2022.
Trading ended with 10,965,895 shares changing hands for $24,497,350, up from 6,054,083 units at $20,040,287 on Wednesday. Caribbean Flavours led trading with 6.49 million shares for 59.1 percent of total volume, followed by iCreate 1.13 million units, with 10.3 percent of the day’s trade and Jamaican Teas with 598,477 units for 5.5 percent market share.
Trading averaged 296,376 shares at $662,091 up from 168,169 shares at $556,675 on Wednesday and month to date, averaging 168,340 units at $602,709, compared to 161,195 units at $599,396 on Wednesday. October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and one stock with a lower offer.
At the close, AMG Packaging shed 22 cents in closing at $2.08 with an exchange of 291,739 shares, 
Caribbean Flavours fell 26 cents to close at $1.65 while exchanging 6,485,855 units, Derrimon Trading slipped 13 cents to $2.26, with 48,748 stocks clearing the market. Everything Fresh dropped 9 cents to 91 cents trading 39,506 stock units, Express Catering declined 20 cents to end at $5.80 after 41,366 stock units changed hands, Fontana fell 19 cents to end at $7.21 in exchanging 34,055 stocks. Fosrich lost 10 cents ending at $8.85 with the swapping of 2,690 shares, General Accident popped 45 cents $6.70, with 2,850 units changing hands, GWest Corporation rose 9 cents to close at $1.01 after exchanging 14,904 shares. Honey Bun shed 49 cents to $10.50 in an exchange of 32,722 stock units, iCreate rallied 7 cents to 95 cents after trading 1,131,083 stocks, Indies Pharma gained 10 cents in closing at $3 after 15,957 units crossed the exchange. Iron Rock Insurance dropped 89 cents to $3.11 in an exchange of one share, KLE Group declined 83 cents to end at $2.30 in switching ownership of 1,629 units, Lasco Distributors advanced 13 cents to close at $3.20 in trading 12,134 stock units. 
Lasco Financial shed 10 cents to end at $3.05, with 23,350 stocks crossing the market, Limners and Bards climbed 12 cents to $3.50, trading 24,566 units, Lumber Depot declined 14 cents to $2.81, with 302,926 stocks changing hands. Mailpac Group spiked 40 cents to $3.45 in trading 466,836 shares, Main Event dropped 38 cents to $3.72 with an exchange of 10 stock units, Medical Disposables increased 69 cents to $6.19 after exchanging 7,074 stock units. Paramount Trading advanced 16 cents to close at $1.21 with the swapping of 16,460 units, Stationery and Office Supplies jumped $1.09 in closing at $6.59 after exchanging 16,740 stocks and tTech fell 24 cents to $4.26 in switching ownership of 331 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Second day of slippage for Junior Market
Trading closed on Wednesday, with the stock volume and value rising 65 percent and 22 percent, respectively higher than Tuesday. The market index slipped for a second day at the close of the Jamaica Stock Exchange Junior Market.
A total of 36 securities traded similar to Tuesday and ended with 12 rising, 15 declining and nine, closing unchanged.
At the close, the Junior Market Index declined 14.69 points to 3,367.71. The PE Ratio, a measure used to compute appropriate stock values, averages 14.2. The PE ratio of each stock is shown in the chart below, is based on earnings forecasted by ICInsider.com for companies with their financial year ending up to August 2022.
Trading amassed 6,054,083 shares for $20,040,287 compared to 3,658,667 units at $16,374,907 on Tuesday. Jamaican Teas led trading with 1.33 million shares for 22 percent of total volume, followed by CAC 2000 9.5% preference share with 652,423 units for 10.8 percent of the day’s trade and Future Energy Source with 536,275 units for 8.9 percent market share.
Trading averaged 168,169 shares at $556,675, up from 101,630 shares at $454,859 on Tuesday and month to date, averaging 161,195 units at $599,396, compared to160,795 units at $601,848 on Tuesday. October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, AMG Packaging fell 40 cents to $2.30 while exchanging 259,950 shares, Caribbean Cream declined 50 cents to $5.50 in switching ownership of 11,709 stocks, Derrimon Trading rose 18 cents to end at $2.39 after 475,005 units crossed the exchange. Dolphin Cove increased 71 cents to a 52 weeks’ closing high of $14 after exchanging 280,755 stock units, Express Catering climbed 64 cents to close at $6, with 199,565 stocks crossing the market, Fontana shed 10 cents in ending at $7.40, with 11,475 units changing hands. Fosrich advanced 50 cents to close at $8.95 in trading 14,811 shares, General Accident fell 25 cents to $6.25 in an exchange of 10,289 stock units, Honey Bun dropped 73 cents to end at $10.99, exchanging 25,122 stocks. Knutsford Express shed 83 cents in closing at $7.15 and trading 6,341 units, Lasco Distributors fell 23 cents to end at $3.07 after 79,000 stock units changed hands, Lasco Financial rallied 15 cents to $3.15 in exchanging 23,675 shares. 
Limners and Bards dropped 13 cents to close at $3.38 with the swapping of 11,250 shares, Lumber Depot popped 10 cents to $2.95, trading 477,659 units, Mailpac Group lost 25 cents in closing at $3.05 with an exchange of 466,321 stocks. Medical Disposables declined $1.10 to $5.50, with 1,000 stock units crossing the market, Tropical Battery gained 12 cents to close at $1.34, with 26,383 shares changing hands and tTech popped 30 cents to $4.50 trading 120,000 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading inched higher on Junior Market
Trading picked up moderately on Tuesday over Monday, with the volume and the value of stocks traded rising at the close of the Jamaica Stock Exchange Junior Market, leading to the number of advancing and declining stocks closing almost even.
Market activity led to 36 securities trading compared to 35 on Monday and ended with 16 rising, 17 declining and three ending unchanged. The Junior Market Index slipped just 0.10 points to 3,382.40. The PE Ratio, a measure used to compute appropriate stock value, averages 4.3. The PE ratio of each stock is shown in the chart below, is based on earnings forecasted by ICInsider.com for companies with their financial year ending up to August 2022.
Trading ended with 3,658,667 shares changing hands for $16,374,907 , up from 3,190,110 units at $12,896,482 on Monday. Express Catering led trading with 578,623 shares for 15.8 percent of total volume, followed by Mailpac Group with 508,966 units for 13.9 percent of the day’s trade and Derrimon Trading with 447,753 units for 12.2 percent market share.
Trading averaged 101,630 shares at $454,859 versus 91,146 shares at $368,471 on Monday and month to date, averaging 160,795 units at $601,848 compared to 164,399 units at $610,802 on Monday. October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and four stocks with lower offers.
At the close, Access Financial fell 50 cents to $20 in trading 109 shares, AMG Packaging increased 5 cents to end at a 52 weeks’ closing high of $2.70 after hitting a high for the day of $2.89, with an exchange of 187,358 stocks, Blue Power gained 23 cents to close at $3 after exchanging 10,000 units, Caribbean Assurance Brokers dropped 10 cents ending at $2.40, with 179,965 stocks clearing the market. Caribbean Cream spiked 49 cents in closing at $6 after trading nine stock units, Derrimon Trading lost 10 cents to end at $2.21 in exchanging 447,753 units, Dolphin Cove shed 70 cents to $13.29, with 282,618 stocks changing hands. Elite Diagnostic fell 21 cents to $3.23, with 40,200 stock units crossing the market, Express Catering rallied 10 cents to $5.36 as 578,623 shares changed hands, Fosrich declined 37 cents to end at $8.45 after 19,955 shares crossed the market. Future Energy Source fell 15 cents to close at $2.68 after trading 336,563 units, General Accident shed 40 cents to close at $6.50 in an exchange of 16,431 stocks, Honey Bun popped $1.47 in closing at $11.72 in trading 69,284 stock units. Iron Rock Insurance advanced 70 cents to end at $4 in exchanging 30,000 units, KLE Group climbed 13 cents to $3.13 with 250 stock units changing hands, Knutsford Express increased 48 cents to $7.98 with an exchange of 600 shares. 
Lasco Distributors rose 15 cents in closing at $3.30, exchanging 35,264 stocks, Lasco Financial dropped 19 cents to $3 in switching ownership of 155,614 units, Limners and Bards gained 18 cents to end at $3.51 after trading 41,209 stocks. Lumber Depot slipped 12 cents to $2.85 in trading 185,841 stock units, Mailpac Group dropped 9 cents to close at $3.30 with 508,966 shares crossing the market, Medical Disposables increased $1.40 to end at $6.60 after trading 29,021 stock units. Stationery and Office Supplies lost 64 cents to close at $5.55 after exchanging 32,889 stocks and Tropical Battery shed 13 cents in ending at $1.22, with 31,261 shares crossing the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market bounces on Monday
Stocks recorded gains at the close on Monday, with the Market Index rallying 34.19 points to 3,382.50, but the volume and the value of stocks traded fell 43 percent lower than Friday on the Jamaica Stock Exchange Junior Market.
A total of 35 securities traded, up from 33 on Friday, with 16 rising, 13 declining and six, unchanged. AMG Packaging and Dolphin Cove ended at 52 weeks’ closing high and SSL Venture Capital traded at an intraday high of $1.
The PE Ratio, a measure used to compute appropriate stock values, averages 14.2. The PE ratio of each stock is shown in the chart below, is based on earnings forecasted by ICInsider.com for companies with their financial year ending up to August 2022.
Trading ended with 3,190,110 shares changing hands for $12,896,482 versus 5,618,593 units at $22,682,268 on Friday. Future Energy Source led trading with 918,979 shares for 28.8 percent of total volume, then Caribbean Assurance Brokers with 318,860 units for 10 percent of the day’s trade and Mailpac Group with 269,613 units for 8.5 percent market share.
Trading averaged 91,146 shares at $368,471 down from 170,260 shares at $687,341 on Friday and month to date, averaging 164,399 units at $610,802, compared to 169,010 units at $626,057 on Friday. October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, AMG Packaging spiked 25 cents to end at a 52 weeks’ high of $2.65 with an exchange of 61,076 shares, Cargo Handlers declined 9 cents to $7.01 after exchanging 1,520 stocks, Caribbean Assurance Brokers increased 22 cents to $2.50, with 318,860 units changing hands. Caribbean Cream lost 31 cents to $5.51 after 45,675 stock units crossed the exchange, Derrimon Trading fell 8 cents in closing at $2.31 with 58,355 shares changing hands, Dolphin Cove jumped $1.49 to end at a 52 weeks’ closing high of $13.99, with 229,784 stocks crossing the market. Elite Diagnostic rallied 20 cents to $3.44 after trading 21,258 units, Everything Fresh advanced 11 cents to $1.01 while exchanging 12,763 stock units, Express Catering rose 16 cents to close at $5.26 after swapping 151,922 units. Fontana shed 20 cents in closing at $7.50, with 53,724 stock units changing hands, Fosrich dropped 18 cents to $8.82, trading 8,854 shares, General Accident climbed 20 cents to $6.90, with 3,500 stocks clearing the market. 
Honey Bun declined 25 cents to $10.25 in switching ownership of 99,459 units, iCreate dropped 16 cents in closing at 79 cents in an exchange of 90,000 shares, Indies Pharma lost 13 cents to close at $2.87 with the swapping of 79,139 stock units. Lasco Financial popped 9 cents to $3.19 in exchanging 81,844 stocks, Lumber Depot rallied 9 cents to end at $2.97 trading 75,317 units, Mailpac Group shed 15 cents to close at $3.39 in switching ownership of 269,613 stocks. Main Event climbed 43 cents to $4.15, with 75,335 stock units changing hands and Stationery and Office Supplies gained 58 cents in closing at $6.19 in an exchange of 3,649 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Four additions to ICTOP10 listings
ICTOP10 stocks have four new listings this week as recent profit results led to revisions to earnings, as a result, the Junior Market lost General Accident and Stationery & Office Supplies, while Berger Paints and PanJam Investment exited the Main Market ICTOP10.
General Accident inched from $6.60 last week to $6.70 this week, but earnings were revised downwards to 65 cents for the year, helping it exit the TOP10. New to this week’s ICTOP10 are the Junior Market’s Medical Disposables, with the price falling 23 percent to $5.20 from $6.78 last week and Caribbean Cream. Sygnus Credit Investments dropped out of the TOP10 the previous week and returns with the price dropping 17 percent from $18.90 down to $15.66 this past week, while Proven Investments also returns.
Big TOP10 movers this week are AMG Packaging up 41 percent in closing at $2.40 from $1.70 last week, Dolphin Cove leapt 22 percent to land at $12.50. In the Main Market, Caribbean Producers dipped 15 percent to close at $8.61 as some selling came in for the stock and Radio Jamaica has an analysts briefing on Tuesday coming and dropped 13 percent to an attractive entry of $3.06, with revenues and profit climbing over the last fiscal year’s outturn.
The top three Main Market stocks are Caribbean Producers, Guardian Holdings and JMMB Group, which are projected to gain between 212 to 283 percent expected versus last weeks’ 227 to 261 percent.
The top three stocks in the Junior Market are Caribbean Assurance Brokers, followed by AMG Packaging and Lasco Distributors. All three can gain between 154 and 207 percent, down from 209 percent and 253 percent previously.
The latest results show that there are many undervalued stocks, but investors should focus on these stocks that could show good earnings growth in 2022.
The average gains projected for the TOP 10 Junior Market stocks moved from 185 percent last week to 145 percent and Main Market stocks remains unchanged at 163 percent.
The Junior Market closed the week with an average PE 14.1 based on ICInsider.com’s 2021-22 earnings and is currently well below the target of 20 and the March 2020 historical average of 17, based on 2020 earnings. The TOP 10 stocks trade at a PE of a mere 8.3, with a 42 percent discount to that market’s average PE.
The Junior Market can gain 42 percent to March next year, based on an average PE of 20 and 21 percent based on an average PE of 17. Nine stocks representing 22 percent of all Junior Market stocks with positive earnings are trading at or above this level, down from seven last week, indicating that many others will rise towards 17 mark in the weeks ahead.
The average PE for the JSE Main Market is 15.5, which is 23 percent less than the PE of 19 at the end of March and 29 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 8, representing a 52 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 PE of 25.5, suggesting that the accepted multiple maybe around 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.
Mild Junior Market slippage
Trading remained steady at the close on Friday, on the Jamaica Stock Exchange Junior Market, with the volume and the value of stocks trading marginally different than on Thursday and the advanced decline ratio almost even.
Market activity led to 33 securities trading similar to Thursday and ended with 12 rising, 13 declining and eight closing unchanged.
At the close, the Junior Market Index lost 10.40 points to settle at 3,348.31. The PE Ratio, a measure used to compute appropriate stock values, averages 13.8. The PE ratio of each stock is shown in the chart below, is based on earnings forecasted by ICInsider.com for companies with their financial year ending up to August 2022.
Trading ended with 5,618,593 shares changing hands for $22,682,268 compared to 5,349,279 units at $25,391,088 on Thursday. Lumber Depot led trading with 1.38 million shares for 24.6 percent of total volume, followed by Dolphin Cove with 790,372 units for 14.1 percent of the day’s trade and Derrimon Trading with 654,389 units for 11.6 percent market share.
Trading averaged 170,260 shares at $687,341 in contrast to 162,099 shares at $769,427 on Thursday, with the month to date averaging 169,010 units at $626,057, compared to 168,931 units at $622,190 on Thursday. October closed with an average of 162,777 units at $557,275.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Access Financial dropped 30 cents to $20.50, with 12,500 shares crossing the market, AMG Packaging advanced 20 cents to $2.40 in trading 74,082 stock units, Blue Power shed 48 cents in closing at $2.77 after an exchange of 1,078 stocks. Cargo Handlers gained 10 cents ending at $7.10, with 500 units clearing the market, Caribbean Assurance Brokers rallied 8 cents to $2.28 while exchanging 531,703 shares, Derrimon Trading rose 11 cents in closing at $2.39 after trading 654,389 stock units. Dolphin Cove spiked $2.25 to end at a 52 weeks’ closing high of $12.50 with an exchange of 790,372 stocks, Elite Diagnostic declined 21 cents to end at $3.24 with the swapping of 14,072 units, Future Energy Source fell 13 cents to $2.77, with 612,436 units changing hands. 
Honey Bun climbed $1.30 to a 52 weeks’ closing high of $10.50, with 76,381 stock units crossing the exchange, Iron Rock Insurance rallied 23 cents to $3.30 in switching ownership of 11,000 shares, Jamaican Teas lost 20 cents to end at $3.80 after 126,677 stocks changed hands. Knutsford Express popped 45 cents to close at $7.50 after exchanging 1,259 shares, Lasco Distributors shed 10 cents in ending at $3.15 trading 58,580 stock units, SSL Venture rallied 10 cents to 90 cents after trading 5,813 units and tTech rose 20 cents to close at $4.20 in an exchange of 1,226 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.