Trading plunges on the Junior Market

March 14, 2023 by

Trading activity dived on the Junior Market of the Jamaica Stock Exchange Tuesday, with the volume of stocks traded declining 74 percent and the value 69 percent lower than on Monday with 45 securities trading compared with 46 on Monday and ended with 12 rising, 27 declining and six closing unchanged.
Investors traded 6,101,272 shares for $16,671,644 compared to 23,046,162 units at $53,285,932 on Monday.
Trading averaged 135,584 shares at $370,481, compared to 501,004 units at $1,158,390 on Monday with the month to date average of 199,190 units at $529,604 down from 206,218 stocks at $547,197 on the previous day. February averaged 318,024 units at $782,332.
Dolla Financial led trading with 741,210 shares for 12.1 percent of total volume followed by Derrimon Trading with 651,191 units for 10.7 percent of the day’s trade and MFS Capital Partners with 639,010 units for 10.5 percent market share.
At the close, the Junior Market Index dipped 20.24 points to end at 3,797.67.
The PE Ratio, a measure of computing appropriate stock values, averages 11.5. The PE ratios of Junior Market stocks are computed using the last traded stock price in conjunction with ICInsider.com projected earnings for the financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows five stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Access Financial fell 75 cents to $22.25 after 65 shares passed through the market, AMG Packaging dipped 52 cents to $2.58 in an exchange of 31 stock units, CAC 2000 lost 9 cents to close at $8.20 after transferring 100 units. Caribbean Assurance Brokers gained 14 cents to end at $2.05 in switching ownership of 40,216 stocks, Caribbean Cream advanced 30 cents in closing at $3.70 with an exchange of 400 stock units, Consolidated Bakeries lost 8 cents to $2.09 after trading 12,354 shares. Dolla Financial popped 10 cents in ending at $2.90 with 741,210 units changing hands, Dolphin Cove shed 18 cents in closing at $14.52 with the swapping of 15,366 stocks, EduFocal rose 12 cents to end at $1.98 after trading 100,000 stock units. Elite Diagnostic fell 18 cents to $2.71 as investors exchanged 3,000 units, Fontana lost 15 cents to close at $8.40 after a transfer of 217,560 shares, Future Energy Source shed 24 cents to close at $4.31 as investors swapped 279,285 stocks. General Accident declined 33 cents to $5 in exchanging 50,042 units, iCreate dipped 10 cents to end at $1.55 with a transfer of 311,474 shares, JFP Ltd lost 13 cents in closing at $1.56 trading 183,096 stocks. Knutsford Express fell $1.14 to $9.02 with 34,586 stock units clearing the market, Lasco Manufacturing lost 25 cents to close at $4.05 with 1,448 shares changing hands, Limners and Bards shed 15 cents in closing at $2.51 in an exchange of 7,465 units. Main Event dipped 30 cents to end at $12 with the swapping of 13,673 stock units, Medical Disposables gained 15 cents to settle at $5 after a transfer of 22,840 stocks and Stationery and Office Supplies shed 50 cents to close at $14.50 with investors transferring 20,484 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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Trading jumps on Junior Market

March 13, 2023 by

Trading jumped sharply at the close of the Junior Market of the Jamaica Stock Exchange Monday, with a 92 percent surge in the volume of stocks traded and a 47 percent increase compared to Friday, leading to 46 securities changing hands up from 42 on Friday and ending with 23 rising, 17 declining and six unchanged.
Investors traded 23,046,162 shares for $53,285,932, up from 12,029,585 units at $36,181,749 on Friday.
Trading averaged 501,004 shares at $1,158,390 compared to 286,419 units at $861,470 on Friday, with the month to date averaging 206,218 units at $547,197 compared to  68,655 stock units at $469,317 on Friday, the previous day. Trading in February averaged 318,024 units at $782,332.
Derrimon Trading led trading with 14.92 million shares for 64.7 percent of total volume followed by Regency Petroleum with 1.95 million units for 8.5 percent of the day’s trade and Dolla Financial with 946,925 units for 4.1 percent market share.
At the close, the Junior Market Index advanced 11.64 points to 3,817.91.
The PE Ratio, a measure of computing appropriate stock values, averages 11.5. The PE ratios of  Junior Market stocks are computed using the last traded stock price in conjunction with ICInsider.com projected earnings for the financial years ending between November 2022 and August 2023. Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, AMG Packaging gained 59 cents in closing at $3.10 with 70,128 shares changing hands, CAC 2000 advanced $1.28 to $8.29 after trading 15 units, Cargo Handlers gained 8 cents to close at $15 in exchanging 6,660 stock units. Caribbean Assurance Brokers shed 17 cents to end at $1.91 with a transfer of 10,809 stocks, Caribbean Cream popped 10 cents to finish at $3.40 after 520 shares passed through the market, Derrimon Trading popped 10 cents to settle at $2.20 after trading 14,915,935 stocks. Dolla Financial slipped 8 cents to $2.80 with the swapping of 946,925 units, Dolphin Cove declined 63 cents to $14.70 after an exchange of 33,141 stock units,  dipped 13 cents to end at $1.86 in switching ownership of 515,305 shares. Express Catering gained 24 cents to close at $5.40 after a transfer of 300 stocks, Fontana rallied 14 cents to end at $8.55 after 115,454 stock units cleared the market, Future Energy Source rallied 15 cents to $4.55 with a transfer of 392,151 units after the price hit an intraday 52 weeks’ low of $4.16. General Accident rose 33 cents in closing at $5.33 as investors exchanged 650 stocks, GWest Corporation gained 11 cents after ending at $1.04 in trading 12,113 shares, ISP Finance advanced 66 cents to close at $25.66 with investors transferring 825 units. Knutsford Express popped 10 cents to settle at $10.16 with an exchange of 4,000 stock units, Lasco Manufacturing lost 9 cents to close at $4.30 in switching ownership of 2,200 stock units, Lumber Depot gained 14 cents in closing at $2.20 in an exchange of 206,658 stocks. Main Event jumped $1.30 to $12.30 with the swapping of 58,507 units, MFS Capital Partners popped 46 cents to end at $3.70 as investors exchanged 409,249 shares,

Paramount Trading shed 20 cents to close at $2.15 after trading 25,685 units. Regency Petroleum lost 10 cents after ending at $2.05 with 1,947,630 shares changing hands, Stationery and Office Supplies advanced 50 cents to end at $15 in an exchange of 18,301 stock units and tTech fell 20 cents to $2.30 after an exchange of 94,118 stocks.
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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Everything & Guardian head ICTOP10

March 12, 2023 by

Everything Fresh and Guardian Holdings continue to head the ICInsider.com TOP10 in a week when the Main Market fell 2.7 percent and the Junior Market dropped a hefty 7.8 percent and reversed all the gains of the previous week, but the Investors Choice bid-offer Indicator is flashing positive signals for both markets on Monday.
Guardian Holdings has a commanding lead over its next rival by almost 100 points, but Everything Fresh likely gain of 344 percent is just above Caribbean Assurance at 333 percent, but the latter is currently far more appealing, with the stock selling at a PE of a mere 7 times 2022 earnings and 4.6 times 2023. Everything Fresh PE based on 2022 earnings is at a much higher 17 and 4.5 based on projected 2023 earnings.
Earnings season had two companies in ICInsider.com TOP10 reporting very strong results that augur well for a full year’s profit.

Caribbean Assurance Brokers is selling at a PE of just 7 based on historical earnings.

Scotia Group reported a net income of $3.4 billion for the quarter that ended January 2023, an increase of $2.2 billion or 173 percent over the prior year period as loans the primary driver of profits increased a solid 18.8 percent to $237 billion while deposits grew only 7.7 percent to $4.05 billion and resulted in net interest income surging $2.6 billion as interest expenses actually declined. These results suggest  ICInsider.com forecast for $5 per share may be a bit light with solid prospects that earnings of $5.50 seem possible. It noted that overall comprehensive profit shows a loss of $1 billion after accounting for pension obligations of $9.5 billion and other items of gains.
Jamaica Broilers continues to churn out strong growth in profits with their nine months results more than double that of the prior year while the January quarter is up 27 percent to $1.5 billion as revenues climbed a solid 20 percent after finance cost nearly doubled. With the tourism industry back to normal the company should get a further boost for the rest of 2023. ICInsider.com forecast for $6 per share for the current fiscal year from continuing operations seem well within reach and could be exceeded making it a solid buy for the long haul.

Scotia Group had a significant increase in profits for the January 2023 quarter.

Performance in the past week was mixed for the Junior Market TOP10 but was far better than the near 8 percent fall by that market, with only three stocks rising of which two rose by 2 percent or less. Iron Rock Insurance gained 15 percent this past week to $2.30 after falling 13 percent the previous week. Lasco Distributors fell 6 percent to $2.64, followed by AMG Packaging and Stationery and Office Supplies which fell by 3 percent to $2.51 and $14.50, respectively.
The Main Market TOP10 performed worse than the overall market with only two stocks gaining and six declining. Jamaica Broilers rose 6 percent to $38 as investors warmed to the stock following release of outstanding results, with the price having a far way to run, while JMMB Group a clear winner for the long term, put on just 2 percent to close at $31.01. Key Insurance fell 7 percent to $2.61 followed by a 5 percent for NCB Financial and 138 Student Living to $72 and $5.20 respectively.
There are no new additions in either market to the ICTOP10 this past week.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.5, well below the market average of 13.3, while the Junior Market Top 10 PE sits at 6.1 compared with the market at 11.3. The differences are important indicators of the level of likely gains of ICTOP10 stocks. The Junior Market is projected to rise by 238 percent and the Main Market TOP10 by an average of 274 percent to May 2024, based on 2023 forecasted earnings.
The Junior Market has 11 stocks representing 23 percent of the market, with PEs from 15 to 25, averaging 19.7, well above the market’s average. The top half of the market has an average PE of 16.
The Main Market 16 highest valued stocks are priced at a PE of 15 to 98, with an average of 30 and 22 excluding the highest valued stocks and 20 for the top half excluding the stocks with the highest valuation.
The above average shows the extent of potential gains for the TOP 10 stocks.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market but not always. 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 up to the end of May 2023 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.

Filed Under: Buy Rated, Stock Market, Stocks to watch Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Trading jumps on the Junior Market

March 10, 2023 by

Trading picked up sharply on the Junior Market of the Jamaica Stock Exchange Friday with a 156 percent rise in the volume of stocks traded valued 107 percent more than on Thursday, after trading occurred in 42 securities compared with 49 on Thursday and ended with 16 rising, 18 declining and eight unchanged.
A total of 12,029,585 shares were exchanged for $36,181,749 compared with 4,690,775 units at $17,476,868 on Thursday.
Trading averaged 286,419 shares at $861,470 compared to 95,730 units at $356,671 on Thursday with the month to date averaging 168,660 units at $469,317 compared to 153,150 stock units at $417,685 on the prior day. February closed with an average of 318,024 units at $782,332.
Derrimon Trading led trading with 4.65 million shares for 38.6 percent of total volume followed by Future Energy Source with 1.54 million units for 12.8 percent of the day’s trade and MFS Capital Partners with 981,663 units for 8.2 percent market share.
At the close, the Junior Market Index shed 19.21 points to end at 3,806.27, but Monday looks set to be a positive day with the Investor’s Choice bid-offer indicator being very positive, showing nine stocks ending with bids higher than their last selling prices and one stock with a lower offer.
The PE Ratio, a measure used to compute appropriate stock values, averages 11.3. The PE ratios of Junior Market stocks are computed using the last traded stock price divided by ICInsider.com projected earnings for the financial years ending between November 2022 and August 2023.
At the close, AMG Packaging rose 13 cents to $2.51 with a transfer of 496 shares, CAC 2000 lost 9 cents in closing at $7.01 after trading 1,460 units, Caribbean Cream dipped 20 cents to close at $3.30 in an exchange of 300 stocks. Caribbean Flavours gained 20 cents to end at $1.46 after a transfer of 1,510 stock units, Dolla Financial gained 8 cents in ending at $2.88 with 378,989 stock units changing hands, Dolphin Cove shed 57 cents after ending at $15.33 with 107,688 shares clearing the market. Express Catering shed 36 cents to end at $5.16 as investors exchanged 7,879 stocks, General Accident popped 31 cents to close at $5 with the swapping of 961,565 units, GWest Corporation fell 14 cents in closing at 93 cents after exchanging 18,016 shares. ISP Finance rallied $5 to $25 with investors transferring a mere 6 stock units, Jamaican Teas rose 19 cents to $2.44 after 4,189 stocks passed through the market,  Lumber Depot lost 14 cents to close at $2.06 with the swapping of 115,466 units. Main Event dipped 85 cents in closing at $11 with an exchange of 73,470 shares, MFS Capital Partners declined 38 cents to end at $3.24 with 981,663 stocks clearing the market, Paramount Trading popped 20 cents to $2.35 as investors traded 150 stock units and Stationery and Office Supplies gained 25 cents after ending at $14.50 in exchanging 17,000 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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Junior Market drops

March 10, 2023 by

The Junior Market of the Jamaica Stock Exchange Traded mixed on Thursday, with the volume of stocks traded rising 34 percent, with a 51 percent higher value than Wednesday after all of the 49 listed securities attracted investors’ interest and action, up from 45 on Wednesday and closed with 13 rising, 22 declining and 14 were unchanged.
At the close, 4,690,775 shares were traded for $17,476,868, compared to 3,501,650 units at $11,545,037 on Wednesday.
Trading averaged 95,730 shares for $356,671 compared to 77,814 units at $256,556 on Wednesday, with the month to date averaging 153,156 stock units at $417,685 compared to 163,578 stocks for $428,758 on the previous day. February closed with an average of 318,024 units at $782,332.
Fontana led trading with 830,242 shares for 17.7 percent of total volume, followed by Spur Tree Spices with 604,131 units for 12.9 percent of the day’s trade and Jamaican Teas with 585,074 units for 12.5 percent market share.
At the close, the Junior Market Index declined 38.92 points to 3,825.48.
The PE Ratio, a measure of computing appropriate stock values, averages 11.3. The PE ratios of Junior Market stocks are calculated using the last traded stock price with ICInsider.com projected earnings for the financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Access Financial rallied 95 cents to $23 with investors transferring 1,010 shares, AMG Packaging shed 57 cents to end at $2.38 after a transfer of 10 units, CAC 2000 gained 10 cents ending at $7.10 with 3,507 stock units clearing the market. Dolphin Cove advanced 42 cents to $15.90 as investors exchanged 1,920 stocks, Fontana lost 15 cents to finish at $8.40 after a transfer of 830,242 stock units, Fosrich gained 9 cents to close at $2.99 with the swapping of 346,011 shares. General Accident dipped 16 cents in closing at $4.69 with 10 units changing hands, Indies Pharma fell 25 cents to end at $2.75 with investors trading 10 stocks, Jamaican Teas lost 8 cents to close at $2.25 in an exchange of 585,074 stocks.KLE Group shed 30 cents ending at a 53 weeks’ low of $1.44 in switching ownership of 61 shares, Knutsford Express fell $1.77 to end at $10.06 after 911 stock units passed through the market, Lasco Distributors dipped 20 cents to $2.60 as investors exchanged 25,828 units. Lumber Depot lost 19 cents ending at $2.20 with a transfer of 16,515 shares, Main Event popped 13 cents to settle at $11.85 after exchanging 447 stock units, Medical Disposables fell 34 cents in closing at $4.80, trading 22,010 units. MFS Capital Partners lost 8 cents to close at $3.62 with 15,055 stocks crossing the exchange, Paramount Trading shed 23 cents to end at $2.15 after a transfer of 1,540 units, Regency Petroleum gained 14 cents in closing at $2.19 in switching ownership of 350,435 stocks and Stationery and Office Supplies fell 73 cents ending to $14.25 with an exchange of 1,952 stock units.
In the preference segment, CAC 2000 9.5% preference share shed 15 cents to end at 90 cents with a transfer of 180 shares.
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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Trading dips on Junior Market

March 8, 2023 by

Trading fell on the Junior Market of the Jamaica Stock Exchange on Wednesday for the second consecutive day with the volume declining 28 percent and the value moderately lower than on Tuesday after 45 securities changed hands compared with 46 on Tuesday to close with 13 rising, 21 declining and 11  unchanged.
A total of 3,501,650 shares were exchanged at $11,545,037 compared with 4,841,834 units at $12,339,863 on Tuesday.
Trading averaged 77,814 shares at $256,556 compared to 105,257 units at $268,258 on Tuesday with a month to date average of 163,578 units at $428,758 compared to 180,722 stock units at $463,199 on the previous day. Trading in February closed with an average of 318,024 units at $782,332.
Dolla Financial led trading with 486,763 shares for 13.9 percent of total volume followed by Regency Petroleum with 453,988 units for 13 percent of the day’s trade and Fosrich with 380,924 units for 10.9 percent market share.
At the close, the Junior Market Index slipped 3.33 points to end at 3,864.40.
The PE Ratio, a measure of computing appropriate stock values, averages 11.5. The PE ratios of Junior Market stocks are computed using the last traded stock price in conjunction with ICInsider.com projected earnings for the financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows five stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, AMG Packaging popped 35 cents to end at $2.95 after trading 118,199 shares, CAC 2000 dropped $1.30 to $7 with the swapping of 5,837 stocks, Caribbean Flavours fell 19 cents to $1.30 after 123,575 stock units were transferred. Dolphin Cove shed $1.01 to end at $15.48 in switching ownership of 21,379 units, Everything Fresh gained 7 cents in ending at $1.39 after an exchange of 65,621 units, Fontana dipped 15 cents to $8.55 in trading 327,476 stock units. Future Energy Source shed 18 cents to finish at $4.42 with the swapping of 181,004 stocks, General Accident dipped 15 cents to end at $4.85 with an exchange of 3,000 shares, Honey Bun lost 10 cents in closing at $7 after a transfer of 4,166 units. Indies Pharma gained 25 cents while ending at $3 with 200 stock units changing hands, ISP Finance dropped $6.35 to settle at $20 as investors exchanged 720 stocks, Jamaican Teas lost 11 cents to close at $2.33 in switching ownership of 27,915 shares. Lasco Manufacturing rose 35 cents to $4.39 after 2,185 shares cleared the market, Lumber Depot gained 7 cents ending at $2.39 with a transfer of 44,771 stock units, Mailpac Group lost 13 cents in closing at $1.78 in an exchange of 102,098 units. Main Event advanced 72 cents to $11.72 with 8,041 stocks changing hands, Tropical Battery rallied 12 cents to close at $2.27 after trading 192,965 units and tTech gained 18 cents ending at $2.59 with investors transferring 717 stocks.
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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Trading drops but Junior Market gains

March 7, 2023 by

Trading activities closed on the Junior Market of the Jamaica Stock Exchange Tuesday with the volume of stocks traded declining 29 percent and the value 33 per cent lower than on Monday resulting from 46 securities trading compared with 44 on Monday and ended with 18 rising, 18 declining and 10 closing unchanged.
A total of 4,841,834 shares were traded for $12,339,863 versus 6,861,401 units at $18,364,945 on Monday.
Trading averaged 105,257 shares at $268,258 compared with 155,941 units at $417,385 on Monday with the month to date averaging 180,731 units at $463,199 compared to 200,126 stock units at $513,295 on the previous day. February closed with an average of 318,024 units at $782,332.
Regency Petroleum led trading with 1.40 million shares for 29 percent of total volume followed by Tropical Battery with 414,819 units for 8.6 percent of the day’s trade and EduFocal with 394,202 units for 8.1 percent market share.
At the close, the Junior Market Index advanced 10.03 points to close at 3,867.73.
The PE Ratio, a measure of computing appropriate stock values, averages 11.7. The PE ratios of Junior Market stocks incorporate the last traded stock price in conjunction with ICInsider.com projected earnings for the financial years ending between November 2022 and August 2023. Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Access Financial rallied 29 cents to close at $22.05 trading 111 shares, Caribbean Cream gained 20 cents to end at $3.50 after an exchange of 13 stocks, Caribbean Flavours popped 24 cents to $1.49 with the swapping of 253,425 units. Consolidated Bakeries dipped 18 cents in closing at $2.25 after a transfer of 15,359 stock units, Dolphin Cove shed 37 cents in ending at $16.49 with 16,062 units changing hands, EduFocal lost 12 cents to settle at $2 in switching ownership of 394,202 stocks. Fontana popped 10 cents to close at $8.70 as investors exchanged 50,897 stock units, Future Energy Source gained 10 cents in closing at $4.60 after trading at an intraday 52 weeks’ low of $4.31 after 326,091 shares were traded, Honey Bun rose 60 cents to $7.10 after 7,672 units passed through the market. Iron Rock Insurance gained 30 cents in ending at $2.30 with investors transferring 4,742 stocks, Knutsford Express rose 83 cents to finish at $11.83 with the swapping of 8,727 shares, Lasco Distributors gained 27 cents to settle at $2.80 in exchanging 13,979 stock units. Lasco Manufacturing fell 43 cents to $4.04 with a transfer of 7,893 stocks, Paramount Trading popped 32 cents ending at $2.39 in transferring 400 units, Regency Petroleum dipped 19 cents in closing at $2.01 after clearing the market with 1,403,304 shares. Tropical Battery shed 12 cents ending at $2.15 with an exchange of 414,819 stock units and tTech fell 19 cents to $2.41 in trading 30,000 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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Trading drops on Junior Market

March 6, 2023 by

Trading declined on the Junior Market of the Jamaica Stock Exchange Monday with a 45 percent fall in the volume of stocks traded following a 40 percent fall in value compared to Friday, with 44 securities trading compared with 45 on Friday to close with 11 rising, 19 declining and 14  unchanged.
A total of 6,861,401 shares were exchanged for $18,364,945 versus 12,468,915 units at $30,380,321 on Friday.
Trading averaged 155,941 shares at $417,385 compared to 277,087 units at $675,118 on Friday, with the month to date averaging 200,126 stock units at $513,295 down from 214,527 shares at $544,555 on the previous trading day. Trading in February closed with an average of 318,024 units at $782,332.
Regency Petroleum led trading with 1.86 million shares for 27 percent of total volume followed by Image Plus Consultants with 597,091 units for 8.7 percent of the day’s trade and Caribbean Flavours with 488,856 units for 7.1 percent market share.
At the close, the Junior Market Index shed 34.86 points to settle at 3,857.70.
The PE Ratio, a measure of computing appropriate stock values, averages 11.7. The PE ratios of Junior Market stocks are computed using the last traded stock price in conjunction with ICInsider.com projected earnings for companies with their financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows five stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Blue Power declined 9 cents to end at $2.35 with a transfer of 856 shares, Caribbean Flavours shed 22 cents to close at a 52 weeks’ low of $1.25 with an exchange of 488,856 stocks, Derrimon Trading lost 9 cents closing at $2.11 with the swapping of 411,920 stock units. Dolla Financial dipped 16 cents ending at $2.70 with an exchange of 478,414 units, Dolphin Cove popped $1.71 to close at $16.86 in switching ownership of 49,237 shares, Express Catering gained 54 cents in closing at $5.54 with 9,276 stocks changing hands, Future Energy ended at a 52 weeks’ low of $4.50 after 251,909 shares were traded with a fall of 3 cents. Honey Bun fell 70 cents after ending at $6.50 in an exchange of 288,610 stock units, JFP Ltd lost 10 cents to close at $1.60 after 120,180 units passed through the market, Knutsford Express fell 80 cents to $11 after investors traded 10,000 units. Lasco Distributors dipped 28 cents to $2.53 as investors transferred 31,822 stocks, Lasco Manufacturing rallied 17 cents in closing at $4.47 in trading 73,884 stock units, Lumber Depot lost 9 cents to close at $2.31 in switching ownership of 55,047 shares. Main Event declined $1.39 to end at $11 after a transfer of 44,915 units, Medical Disposables rallied 29 cents to $5.14 after an exchange of 568 shares, MFS Capital Partners rose 20 cents to $3.80 with the swapping of 68,831 stocks. Paramount Trading shed 28 cents to finish at $2.07 after an exchange of 30,600 stock units and Regency Petroleum advanced 24 cents to $2.20 with a transfer of 1,860,754 shares.
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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

3 new ICTOP10 stocks after week’s gains

March 5, 2023 by

The Main Market gained 1.3 percent and the Junior Market 2.4 percent over the previous week, the first sign that stocks may be coming back to life, following the end of earning season with a mixed bag of results and the sounding of prospects for a better period ahead, with cost pressures that existed last year in stockpiling supplies to meet demand that squeezed margins have started to recede, with the promise of higher profit margins ahead.

Everything Fresh tops ICTOP10

The period saw many companies reporting solid gains in profit that investors are yet to award with better prices than the results demand, which is not expected to last for long as supplies of many stocks have been declining in recent weeks.
ICTOP10 has three new additions to the Junior Market TOP10 while the Main Market remains steady.
The week closed with rising stocks dominating the Junior Market TOP10. Paramount Trading fell 9 percent in the prior week, led rising stocks this past week, with a gain of 18 percent to $2.35, followed by Main Event, put on 15 percent to land at a new high of $12.39, Lasco Distributors and Lasco Manufacturing rose 8 percent to $2.81 and $4.30, respectively. Iron Rock Insurance fell 13 percent to $2.08 and Tropical Battery dipped 4 percent to $2.20.
Six stocks rose in the Main Market TOP10, with 138 Student Living rising 10 percent to $5.50, the price of Jamaica Broilers rose 9 percent to $36 as investors warmed to the stock following release of outstanding second quarter numbers and the price having a long way to run. Caribbean Producers, that is undervalued, rose 6 percent to $10 as selling pressure eased somewhat.
Price changes resulted in Paramount Trading, Main Event and Lasco Manufacturing exiting the Junior Market TOP10 and replaced by AMG Packaging, Everything Fresh and Stationery and Office Supplies.
AMG Packaging enjoyed improved profit margin in the November quarter compared with that in 2021, even as sales fell slightly in the latest quarter to November, which augurs well for increased profit in the current year, with revenues projected to rise in the year with more business opportunities as the economy continues to grow at a healthy pace. Everything Fresh and Stationery and Office Supplies (SOS) earnings reflect that for the current year. Everything Fresh now heads the Junior market TOP10, having reported profit for an entire year in 2022 for the first time since they released a depressed $16 million profit in 2018. Profit came in at $48 million before tax for 2022, a modest change from $47 million reported for the nine months to September after finance costs rose 43.5 percent in the December quarter over the nine months to September. With 2023 setting up to be the strongest tourist season since 2019, the company is set to see a big jump in business from that sector and profit in 2023, that should see the company earned 30 cents per share, that is why it is in ICTOP10. SOS posted record profits for 2022 with a 169 percent increase before tax from a 55 percent jump in revenues. Of note are a 35 percent increase in fourth quarter revenues and a deal struck with a company in Trinidad to cross sell products that should add to revenues in 2023 and push earnings to $2 per share for the year. With improving profits and shrinking supplies outside of the TOP 10 shareholders, who control 91 percent of the issued shares, the stock is setting up for a stock split that cannot be far off and, when given, will catapult the stock price upwards.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.5, well below the market average of 13.9, while the Junior Market Top 10 PE sits at 6.1 compared with the market at 11.8. The differences are important indicators of the level of the undervaluation of the ICTOP10 stocks. The Junior Market is projected to rise by 240 percent and the Main Market TOP10 by an average of 284 percent to May 2024, now that TOP10 stocks earnings are based on 2023 profits.
The Junior Market has 13 stocks representing 27 percent of the market, with PEs from 15 to 26, averaging 19.5, well above the market’s average. The top half of the market has an average PE of 17. The above average shows the extent of potential gains for the TOP 10 stocks.
The situation in the Main Market is similar, with the 12 highest valued stocks priced at a PE of 15 to 115, with an average of 32 and 23 excluding the highest valued stocks and 21 for the top half excluding the highest valued stocks.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but not always. 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 up to the end of May 2023 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, resulting in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.

Persons who compiled this report may have an interest in securities commented on in this report.

Filed Under: Buy Rated, Stock Market, Stocks to watch Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Trading gains for Junior Market

March 3, 2023 by

Trading picked up on the Junior Market of the Jamaica Stock Exchange Friday with a 35 percent jump in the volume of stocks traded valued 17 percent more than on Thursday after 45 securities changed hands compared with 43 on Thursday, ending with 17 rising, 22 declining and 6 closing unchanged.
A total of 12,468,915 shares were exchanged for $30,380,321 compared with 9,243,451 units at $25,870,454 on Thursday.
Trading averaged 277,087 shares at $675,118 compared to 214,964 units at $601,638 on Thursday with the month to date averaging 214,527 shares at $544,555 compared to 183,247 stock units at $479,277 on the previous day.  February closed with an average of 318,024 units at $782,332.
Derrimon Trading led market activity with 7.9 million shares for 63.4 percent of total volume followed by Dolla Financial with 1.15 million units for 9.2 percent of the day’s trade and Regency Petroleum with 842,292 units for 6.8 percent market share.
At the close, the Junior Market Index gained 15.76 points to end at 3,892.56.
The PE Ratio, a measure of computing appropriate stock values, averages 11.8. The PE ratios of Junior Market stocks are computed using the last traded stock price in conjunction with ICInsider.com projected earnings for the financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Cargo Handlers advanced $1.98 to $14.98 with the swapping of 500 shares, Caribbean Flavours shed 23 cents in closing at $1.47 after trading 11,631 stock units, Consolidated Bakeries popped 24 cents to end at $2.42 with investors transferring 40 units. Dolphin Cove gained 17 cents in ending at $15.15 with 18,515 stocks changing hands, Elite Diagnostic gained 31 cents to settle at $3.03 after a transfer of 3 shares, Express Catering fell 50 cents to $5 as investors traded 108,251 stocks. Honey Bun lost 9 cents in ending at $7.20 with a transfer of 1,649 units, Indies Pharma shed 29 cents in closing at $2.75 with the swapping of 295,573 stock units, Iron Rock Insurance dipped 30 cents to $2 after 10,340 shares passed through the market. ISP Finance climbed $5.35 to $26.35 in switching ownership of 2 stocks, JFP Ltd rallied 10 cents in closing at $1.70 after 20,001 units were traded, Main Event rose 39 cents to close at a 52 weeks’ high of $12.39 in exchanging 66,710 stock units. MFS Capital Partners popped 10 cents to close at $3.60 with a transfer of 19,024 units, Paramount Trading rallied 16 cents to $2.35 after an exchange of 6,451 stocks, Spur Tree Spices lost 10 cents to end at $2.65 with 40,398 stock units changing hands. Stationery and Office Supplies rose 97 cents to $14.95 in switching ownership of 1,904 shares and Tropical Battery dipped 16 cents to end at $2.20 trading 126,960 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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,