The markets of the Jamaica Stock Exchange were steady in closing out last week with just marginal movements in the Main and Junior market indices, resulting in moderate moves in ICITOP10 stocks, with gains ranging from 4 percent to declines of 7 percent in the Junior Market TOP 10, with 4 percent being the biggest move in the Main Market ICTOP10.
Market movements resulted in prices of just three stocks rising and six declining in the Junior Market ICTOP10 while the Main Market ICTOP10 ended with three gains and two losses.
In the Junior Market ICTOP10, Caribbean Assurance Brokers and Limners and Bards gained 4 percent to close at $2.58 and $1.26 respectively. Elite Diagnostic and Iron Rock Insurance fell by 7 percent to $1.68 and $3.90 respectively and Cargo Handlers fell 4 percent to $11. In the Main Market ICTOP10, Key Insurance shed 4 percent to close at $2.20.
The JSE TOP10, compiled from all listed ordinary stocks on the Jamaica Stock Estate ended the week with JMMB Group dropping out with reduced earnings that were released for the nine months to December and is replaced by the Junior Market listed Kintyre Holdings (formerly iCreate).
Financial and Kintyre Holdings entered the Junior Market ICTOP10, with Jamaican Teas and Iron Rock Insurance dropping out.
In the Main Market ICTOP10, Caribbean Producers returns, replacing JMMB Group following the downgrading of earnings for the current fiscal year ending in March. Dolla Financial earnings are based on 2025 projections. The forecast assumes more borrowed funds are taken on during the year to finance expansion. Kintyre Holdings reported earnings of 8 cents for 2024, the latest quarterly numbers suggest earnings should reach 25 cents per share during 2025, all things being equal. The historical performance of the company, suggests a high degree of risk is associated with an investment in the stock.
The average PE for the JSE Main Market ICTOP 10 sits at just 6, well below the market average of 14.9 and the Junior Market TOP10 stands at 8.1, more than half of the market, with an average of 13.2.
Based on the earnings estimates for 2024, the Main Market ICTOP10 is projected to gain an average of 270 percent by May 2025, providing better values than the Junior Market, projected to achieve a 164 percent increase for the same period.
In the Main Market ICTOP 10, there are 15 stocks with the highest values representing 29 percent of the Main Market, with PEs between 15 to 105, with an average of 31 and 23 excluding the highest PE ratios and a PE of 24 for the top half of the market with the highest values and 19 excluding the stocks with overweight values.
In the Junior Market IC TOP10, 16 stocks or 33 percent of the market have PEs ranging from 15 to 32 with an average of 19 and a PE of 18 for half of the market with the highest PEs.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks will likely deliver the best returns on or around May 2025 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.
The market closed with an exchange of 469,562 shares for US$20,129 compared with 11,346,663 stocks at US$322,286 on Monday.
Productive Business Solutions climbed 17.85 cents to US$1.37 with 8 shares crossing the market.Proven Investments slipped 0.5 of one cent and ended at 11 US cents with 68,618 stock units switching owners, Sygnus Credit Investments dipped 0.3 of a cent to finish at 6.5 US cents and closed with an exchange of 8,653 shares and Transjamaican Highway shed 0.05 of one cent to close at 2.69 US cents with investors trading 370,194 units.
Trading surged on the Jamaica Stock Exchange US dollar market on Monday, with a 5,798 percent spike in the volume of stocks traded at a 356 percent greater value than on Friday, following an exchange of more than 11.3 million units of Transjamaican Highway after an exchange of nine securities, compared with eight on Friday with prices of two rising, five declining and two ending unchanged and resulting in the US Denominated Equities Index dropping 11.25 points to 228.70.
Proven Investments declined 0.47 of a cent to 11.5 US cents with 16,968 shares passing through the market. Sygnus Credit Investments remained at 6.8 US cents after an exchange of 2,267 stock units and Transjamaican Highway dipped.01 of one cent in closing at 2.74 US cents with 11,315,150 shares changing hands.
Market movements resulted in prices of just two stocks rising and four declining in the Junior Market TOP10 stocks while the Main Market TOP10 ended with three gaining and five falling.
MMB Group returns to the Main Market ICTOP10 after a week’s absence, replacing Caribbean Producers. There is no change in the Junior Market ICTOP10 list.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
The market closed with an exchange of 39,450 shares for just US$4,029 down from 2,521,741 stocks at US$130,691 on Wednesday. Trading averaged 3,945 shares at US$403 well off from the 504,348 stocks at US$26,138 on Wednesday, with a month to date average of 89,006 units at US$5,091 compared with 129,511 shares at US$7,323 on the previous day and January that ended with an average of 103,137 units for US$4,549.
Sygnus Credit Investments dipped 0.3 of a cent to close at 6.5 US cents with traders dealing in 12,000 shares, Sygnus Real Estate Finance USD share increased 0.9 of a cent to end at 6.9 US cents with a mere 56 units crossing the exchange and Transjamaican Highway remained at 2.79 US cents with investors trading 23,877 stocks.
Sygnus Credit Investments rose 0.2 of a cent to 6.8 US cents after an exchange of 5,138 stocks and Transjamaican Highway climbed 0.12 of one cent to close at 2.84 US cents with 140,450 shares crossing the market.
In the Junior Market ICTOP10, Lumber Depot jumped 15 percent to close at $2.94, AMG Packaging rose 10 percent to $3.26 followed by Access Financial and Limners and Bards with an increase of 9 percent to close at $18.55 and $1.31 respectively while Jamaican Teas gained 7 percent to finish trading at $2.22. Caribbean Assurance Brokers declined by 10 percent to $2.49, Express Catering lost 9 percent to close at $3.05 and Caribbean Flavours fell 5 percent in ending at $1.30.
Lumber Depot dropped out of the Junior Market ICTOP10 following the B gain during the week and is replaced by Cargo Handlers. Jamaica Broilers returns to the Main Market ICTOP10 with JMMB Group falling out.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
The market closed with an exchange of 249,958 shares for US$17,257 in contrast to 112,384 stock units for US$52,111 on Thursday.
Margaritaville popped 1 cent to close at 12 US cents with traders dealing in 11,171 shares. Proven Investments increased 0.8 of one cent to finish at 12.8 US cents with 546 stock units crossing the market, Sterling Investments ended at 1.8 US cents after a transfer of 31,979 stock units, Sygnus Real Estate Finance USD share closed at 6 US cents with 3,300 shares changing hands and Transjamaican Highway slipped 0.04 of a cent to 2.72 US cents after 164,289 stocks passed through the market.
The market closed with an exchange of 42,535 shares for US$5,597, down from 680,107 stocks at US$21,934 on Monday. Trading averaged 3,867 shares at US$509 well below 113,351 stocks at US$3,656 on Monday, with a month to date average of 114,839 units at US$4,710 compared with 122,977 stock units at US$5,018 on the previous day and with December with an average of 229,957 units for US$7,451.
Sygnus Credit Investments remained at 7 US cents after 1,930 units passed through the market. Sygnus Real Estate Finance USD share fell 0.1 of one cent to 5.9 US cents in an exchange of 2 stocks and Transjamaican Highway fell 0.01 of one cent to end at 2.73 US cents with traders dealing in 8,896 stock units.
In the Main Market ICTOP10, Scotia Group gained 13 percent to end at $62.00, Jamaica Broilers rose 4 percent in closing at $38.60 and Caribbean Producers declined 6 percent to $8.45.
Based on the earnings projected estimates for 2024, the Main Market ICTOP10 is projected to gain an average of 274 percent by May 2025, providing better values than the Junior Market, projected to achieve a 154 percent increase for the same time.
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.