Trading picked up on the Jamaica Stock Exchange US dollar market over the past two days, with the volume of stocks exchanged surging 1,219 percent on Tuesday after a 954 percent jump in the value over Monday, resulting in trading in eight securities, compared to eight on Monday with prices of four declining and four ending unchanged.
The market closed with an exchange of 484,869 shares for US$42,958 compared to 36,773 units at US$4,077 on Monday, as trading averaged 60,609 stock units at US$5,370 versus 4,597 shares at US$510 on Monday, with a month to date average of 37,198 shares at US$2,721 compared with 34,886 units at US$2,459 on the previous day and June that ended with an average of 53,325 units for US$3,682.
The US Denominated Equities Index slipped 0.44 points to end trading at 226.35.
The PE Ratio, a most used measure for computing appropriate stock values, averages 7.9. The PE ratio is calculated based on last traded prices divided by projected earnings computed by ICInsider.com for companies with financial year ending and or around August 2025.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close of the market, AS Bryden ended at 22.49 US cents after a transfer of 68 stocks, First Rock Real Estate USD share had trading of 526 units at 4.03 US cents, Margaritaville remained at 7.9 US cents with traders dealing in 1,337 shares. Proven Investments dipped 0.2 of a cent to 11.8 US cents after an exchange of 184,338 stock units, 
Sterling Investments sank 0.34 of a cent to close at 1.49 US cents after 201 shares passed through the market, Sygnus Credit Investments dipped 0.01 of a cent to7.49 US cents with investors dealing in 1,981 stocks and Transjamaican Highway fell 0.03 of a cent to 2 US cents closed at 295,011 units.
In the preference segment, Sygnus Credit Investments E8.5% ended at US$10.40 with a transfer of 1,407 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Elevated trading on JSE USD Market
Depressed trading on JSE USD Market
Trading remained depressed on the Jamaica Stock Exchange US dollar market on Monday, with the volume of stocks exchanged declining 32 percent after 214 percent more money changed hands than on Friday, resulting from trading in eight securities, up from six on Friday with prices of two rising, two declining and four ending unchanged, with Margaritaville trading at a 52 weeks’ low.
The market closed on Monday with an exchange of 36,773 shares for US$4,077 compared to 54,388 units at US$1,299 on Friday.
Trading averaged 4,597 stock units at US$510 versus 9,065 shares at US$216 on Friday, with the month to date ending with an average of 34,886 shares at US$2,459 compared to 38,205 units at US$2,673 on the previous day and June that ended with an average of 53,325 units for US$3,682.
The US Denominated Equities Index gained 0.37 points to cease trading at 226.79.
The PE Ratio, a most used measure for computing appropriate stock values, averages 8.1. The PE ratio is computed based on last traded prices divided by projected earnings computed by ICInsider.com for companies with financial year ending and or around August 2025.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and two with lower offers.
At the close of trading on Monday, AS Bryden ended at 22.49 US cents with traders dealing in 1,045 shares, First Rock Real Estate USD share remained at 4.03 US cents after an exchange of 12,191 stock units, Margaritaville dipped 0.1 of a cent to close trading at a 52 weeks’ low of 7.9 US cents with an exchange of 1,629 shares. 
MPC Caribbean Clean Energy fell 1 cent to 69 US cents after 298 stocks changed hands, Proven Investments ended at 12 US cents, with 150 shares crossing the market, Sterling Investments rose 0.06 of a cent to end at 1.83 US cents with investors trading 706 stock units and Transjamaican Highway rallied 0.03 of a cent to 2.03 US cents with investors dealing in 19,424 stocks.
In the preference segment, JMMB Group 5.75% ended at US$1.95 in switching ownership of 1,330 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
ICTOP10 reshuffle with one new stock
The Main Market of the Jamaica Stock Exchange slipped 2.3 percent in value in the past week while the Junior Market lost 2.2 percent, primarily due to declines in prices of Cargo Handlers, Caribbean Cream, Express Catering and Indies Pharma. The Main Market was hit with a 13 percent drop in the value of NCB Financial Group shares.
With the decline in the price of NCB Financial, the stock is so close to the TOP10 and is now peeping in but could be a struggle before moving sustainably upwards. The demand for the stock is weak currently and the price could be trading in the $40 region. Technical reading suggests a $45 price is not far-fetched before in finding a bottom.
At the end of the week, Dolla Financial rose 12 percent to $2.80 followed by Access Financial closing at $21.96 after gaining 10 percent and tTech up 8 percent to $2.70.
Caribbean Cream and Consolidated Bakeries lost 11 percent each to close at $3.35 and $2.00 respectively and AMG Packaging declined by 5 percent to $3.02. In the Main Market, Berger Paints rose 7 percent to $8.40 to be the leading mover followed by 138 Student Living up 6 percent to $4.09. There are no major declining stocks in the ICTOP10.
Guardian Holdings moved up on the JSE TOP10 listing, with earnings per share revised from $71 to $92 helped by a fall in the price at the close of the week. Price gain for Access Financial resulted in it moving from the 5th spot last week out of the list this week and Caribbean Assurance Brokers moved into the listing, following price slippage during the week.
Lasco Financial Services returns to the Junior Market TOP10, replacing Dolla Financial rising appreciably during the week. The Main Market had no changes.
The average PE for the JSE Main Market ICTOP 10 stands at 4.9, well below the market average of 13.9 and the Junior Market TOP10 sits at 6.9, just over half of the market, with an average of 12.5.
The Main Market ICTOP10 is projected to gain an average of 319 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 211 percent over the same period.
In the Main Market ICTOP 10, a total of 17 of the most highly valued stocks representing 33 percent of the Main Market are priced at a PE of 15 to 92, with an average of 29 and 19 excluding the highest PE ratios, and a PE of 23 for the top half and 16 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 10 stocks, or 21 percent of the market, with PEs ranging from 15 to 20, averaging 18, well above the market’s average. The average PE for the top half of the market is 17, possibly the lowest fair value measure for stocks currently.
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.
Persons who compiled this report may have an interest in securities commented on in this report.
Trading drops on JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Friday, with a 78 percent fall in the volume of stocks exchanged and an 85 percent lower value than on Thursday, resulting in trading in six securities, compared to four on Thursday with prices of two rising, two declining and two ending unchanged.
The market closed with an exchange of 54,388 shares for US$1,299 compared to 243,125 units at US$8,678 on Thursday.
Trading averaged 9,065 stock units at US$216 versus 60,781 shares at US$2,169 on Thursday, with a month to date average of 38,205 shares at US$2,673 compared with 40,815 units at US$2,892 on the previous day and June that ended with an average of 53,325 units for US$3,682.
The US Denominated Equities Index dropped 0.63 points to close at 226.42.
The PE Ratio, a most used measure for computing appropriate stock values, averages 8.1. The PE ratio is computed based on last traded prices divided by projected earnings done by ICInsider.com for companies with financial year ending and or around August 2025.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, AS Bryden remained at 22.49 US cents with investors dealing in 102 stocks, First Rock Real Estate USD share ended at 4.03 US cents in an exchange of 3,016 shares, 
Margaritaville sank 0.5 of a cent and ended at 8 US cents after just 1 stock passed through the market. MPC Caribbean Clean Energy rose 1 cent to close at 70 US cents as investors exchanged a mere 1 stock unit and Transjamaican Highway lost 0.09 of a cent in closing at 2 US cents with 51,165 shares clearing the market.
In the preference segment, JMMB Group US8.5% preference share climbed 24.99 cents to end at US$1.2499 with investors trading 103 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
No Beryl ruffle for ICTOP10
Acquisitions ruled the market this past week with former ICTOP 10 stock Caribbean Producers and current TOP10 listed tTech major shareholding shifting to new owners, with the promise of more shares to be bought by the major shareholders in both cases. These developments had little impact on the overall market during the week but they sent a powerful message to investors, if they care to listen.
In Junior Market ICTOP10, Consolidated Barkeries rose 14 percent to close at $3.85, Caribbean Cream gained 13 percent to $3.75 and tTech rose 5 percent to $2.50 following a switch in ownership of the company. Access Financial fell 9 percent to $19.95 followed by One Great Studio, down 7 percent to 77 cents.
Main Market TOP10 listed Berger Paints fell 12 percent in closing at $7.90 and Key Insurance declined 9 percent to close at $2.05. There were no stocks with gains for the week of note.
Jamaica Broilers returns to the Main Market TOP10, replacing Palace Amusement with a moderate rise to $1.19. The Junior Market had no changes.
The average PE for the JSE Main Market ICTOP 10 stands at 4.9, well below the market average of 13.9 and the Junior Market TOP10 sits at 6.9, just over half of the market, with an average of 12.8.
The Main Market ICTOP10 is projected to gain an average of 312 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 207 percent over the same period.
In the Main Market ICTOP 10, a total of 17 of the most highly valued stocks representing 33 percent of the Main Market are priced at a PE of 15 to 102, with an average of 29 and 19 excluding the highest PE ratios, and a PE of 23 for the top half and 16 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 14 stocks, or 30 percent of the market, with PEs ranging from 15 to 50, averaging 14, well above the market’s average. The average PE for the top half of the market is 17, possibly the lowest fair value measure for stocks currently.
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.
Persons who compiled this report may have an interest in securities commented on in this report.
Gains for JSE USD Market
Investors pushed the Jamaica Stock Exchange US dollar market higher at the end of trading on Friday, following a 21 percent rise in the volume of stocks exchanged with a 48 percent lower value than on Thursday, resulting in trading in seven securities, the same number as Thursday with prices of two rising, one declining and four ending unchanged.
The market closed with an exchange of 269,334 shares for US$34,981 compared to 222,252 units at US$66,982 on Thursday.
Trading averaged 38,476 stock units at US$4,997 versus 31,750 shares at US$9,569 on Thursday, with a month to date average of 35,003 shares at US$3,553 compared with 34,379 units at US$3,294 on the previous day and June that ended with an average of 53,325 units for US$3,682.
The US Denominated Equities Index gained 0.37 points to end the day at 224.94.
The PE Ratio, a most used measure for computing appropriate stock values, averages 8.1. The PE ratio is computed based on last traded prices divided by projected earnings done by ICInsider.com for companies with financial year ending and or around August 2025.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close of the market, AS Bryden ended at 22.49 US cents with traders dealing in 10,699 stocks, First Rock Real Estate USD share popped 0.47 of a cent to 4.47 US cents in switching ownership of 215 stock units, 
Margaritaville slipped 0.4 of one cent to end at 8.5 US cents after an exchange of 240 shares. MPC Caribbean Clean Energy popped 9.15 cents and ended at a 52 weeks’ high of 70.15 US cents with investors trading 14 stocks, Proven Investments remained at 12 US cents with an exchange of 115,060 shares and Transjamaican Highway ended at 2 US cents after 126,852 stocks crossed the market.
In the preference segment, JMMB Group US8.5% preference share ended at US$1 in an exchange of 16,254 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading gains for JSE USD Market
Trading climbed on the Jamaica Stock Exchange US dollar market on Wednesday, with a 35 percent rise in the volume of stocks exchanged after a 20 percent greater value than on Tuesday, resulting in an exchange of seven securities, compared to five on Tuesday with prices of one rising, four declining and two ending unchanged.
The market closed with an exchange of 448,485 shares for US$18,478 compared to 331,393 units at US$15,388 on Tuesday.
Trading averaged 64,069 stock units at US$2,640 versus 66,279 shares at US$3,078 on Tuesday, with a month to date average of 34,955 shares at US$1,922 compared with 26,802 units at US$1,721 on the previous day and June that ended with an average of 53,325 units for US$3,682.
The US Denominated Equities Index sank 7.21 points to close at 231.42.
The PE Ratio, a most used measure for computing appropriate stock values, averages 7.9. The PE ratio is computed based on last traded prices divided by projected earnings done by ICInsider.com for companies with financial year ending around August 2025.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and two with lower offers.
At the close of the market, AS Bryden shed 2.8 cents to end at 22.49 US cents in switching ownership of 1,240 stock units, Proven Investments declined by 1 cent in closing at 12 US cents after a transfer of 32,159 shares, Sterling Investments remained at 1.49 US cents as investors exchanged 4,270 stocks. 
Sygnus Credit Investments rallied 0.75 of one cent to 7.5 US cents and closed after an exchange of 110,398 units and Transjamaican Highway fell 0.09 of a cent and ended at 2 US cents, with 300,345 shares changing hands.
In the preference segment, JMMB Group 5.75% slipped 7 cents to close at US$1.73 with traders dealing in 65 units and Sygnus Credit Investments E8.5% ended at US$10.40 in an exchange of 8 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading climbs on JSE USD Market
In Tuesday’s trading on the Jamaica Stock Exchange US dollar market, the volume of stocks that were exchanged rose 32 percent, with a 24 percent lower value than on Monday, resulting in trading in five securities, similar to trading on Monday, with prices of one rising, two declining and two ending unchanged.
The market closed with an exchange of 331,393 shares for US$15,388 up from 250,977 stock units at US$20,236 on Monday.
Trading averaged 66,279 stocks at US$3,078 compared to 50,195 shares at US$4,047 on Monday, with a month to date average of 26,802 shares at US$1,721 compared with 16,933 units at US$1,381 on the previous day and June that ended with an average of 53,325 units for US$3,682.
The US Denominated Equities Index advanced 0.15 points to cease trading at 238.63.
The PE Ratio, a most used measure for computing appropriate stock values, averages 7.8. The PE ratio is computed based on last traded prices divided by projected earnings done by ICInsider.com for companies with financial year ending and or around August 2025.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and one with a lower offer.
At the close of trading, MPC Caribbean Clean Energy ended at 61 US cents after an exchange of 200 units, Proven Investments remained at 13 US cents with investors trading 70,726 stocks, Sterling Investments dipped 0.04 of a cent to close at 1.49 US cents, with 8,000 shares passing through the exchange. Sygnus Credit Investments gained 0.7 of one cent to finish at 6.75 US cents with traders dealing in 14,667 stock units and Transjamaican Highway fell 0.02 of a cent and ended at 2.09 US cents after 237,800 shares passed through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Beryl ruffled no ICTOP10 feathers
Hurricane Beryl while not flattening the Jamaica stock market sucked much life out during the week, with volumes and values falling sharply as the markets held up well following the end of month activity in the prior week, with the Main Market being flat and sight slippage for the Junior Market.
The Junior Market ICTOP10 closed with two stocks rising and two declining with notable losses. The Main Market has three stocks with notable gains and two losses of size.
The Junior Market ICTOP10, Caribbean Assurance mark and closed the week up 16 percent to close at $3.85, tTech climbed 14 percent to $2.39. Caribbean Cream continues to suffer from a lack of good corporate governance by not providing investors with up-to-date information on its performance in the absence of full year and interim results, accordingly, the stocks keep on meandering between a low of $3 and $4 range, dropping 13 percent to $3.31 followed by One great Studio, down 7 percent to 83 cents.
Margaritaville the best performer in the Main Market TOP10 climbed 14 percent to $15.45, Berger Paints was up 5 percent in closing at $8.98 and Guardian Holdings popped 4 percent to close at $359.99. Declining stocks are General Accident dipping 9 percent to $6.30 and JMMB Group falling 4 percent to $24.
Iron Rock Insurance drops out of the TOP10 with trading in the stock suspended and is replaced by Dolla Financial that fell back in price during the week following the big month end run up last week.
The average PE for the JSE Main Market ICTOP 10 stands at 5.1, well below the market average of 13.9 and the Junior Market TOP10 sits at 6.7, just over half of the market, with an average of 12.9.
The Main Market ICTOP10 is projected to gain an average of 299 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 212 percent over the same period.
In the Main Market ICTOP 10, a total of 17 of the most highly valued stocks representing 33 percent of the Main Market are priced at a PE of 15 to 102, with an average of 29 and 19 excluding the highest PE ratios, and a PE of 23 for the top half and 16 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 16 stocks, or 34 percent of the market, with PEs ranging from 15 to 51, averaging 20, well above the market’s average. The average PE for the top half of the market is 18, possibly the lowest fair value measure for stocks currently.
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.
Persons who compiled this report may have an interest in securities commented on in this report.
ICTOP10 has a brand new listing
Having fallen badly in the previous week, the Junior Market rallied a solid 5.2 percent the past week to end up above 3,800 points on Thursday and Friday and the Main Market rose 1.2 percent to close out the week, with the Junior Market ICTOP 10 blazing a trail with some lofty gains and the Main Market posting just two stocks with notable gains and a few losses of size, with one new stock entering the TOP10.
Other than the b moves in the TOP10, the market got some good news this past week. For one Jamaica Broilers reported positive full year results that were helped by a $2.3 billion one off gain, excluding those gains normal profits would have been in the order of $4.80 when taxes relating to the capital gains are excluded. The other positive news is that the Bank of Jamaica will officially start to ease the tight monetary policy pursued over the past three years. In reality, they commenced easing in early May, with CD rates falling from 11.59 percent in early April to mostly under 10 percent during June.
The other news of worth is that GDP growth for the March quarter was 1.4 percent, but that reflects a slowdown from last year and an even slower December quarter that was 1.7 percent. The latest GPD data and other available information suggest the evidence of a slow down. These include reduced first quarter results of several companies and a decline in tourist arrivals in the second quarter, suggesting that the second quarter is likely to grow at an even slower pace than the first. The positive take from any economic slowdown is that the tight monetary policy that the country is in will be eased further.
JSE Main Market had three winners and four losers. The Junior Market ended with six winners and three losers.
The Junior Market ICTOP10 saw Dolla Financial surging 30 percent to $3 followed by Consolidated Bakeries’ big recovery from last week’s big 28 percent fall and ended with a gain of 28 percent to $1.98, Access Financial gained 15 percent to end at $21.93, Caribbean Cream popped 7 percent to $3.80 and Stationery and Office Supplies rose 7 percent to close at $1.70. Declining stocks include Caribbean Assurance Brokers down 13 percent to close at $3.31 and tTech falling 9 percent to $2.10.
JMMB Group was the star performer in the Main Market TOP10, climbing 13 percent to $25.10 and Berger Paints was up 6 percent in closing at $8.52. Declining stocks are 138 Student Living and Pulse Investments dipping 6 percent to $3.86 and $1.50 respectively and Guardian Holdings dropped 4 percent to close at $345.
Dolla Financial with a 30 percent surge, dropped out of the ICTOP10 for the week and is replaced by One Great Studio.
One Great Studio was listed in September 2023 at $1 per share, the price has since slipped to a low of 80 cents per share following first quarter profit that fell 55 percent to $10 million from $23 million in 2023, following a fall in revenues from $115 million to $91 million.
The principal activities of the Group are to provide search engine optimisation, web design and development and software development services, with clients based in Jamaica, the wider Caribbean and other countries. The company is looking to add other services by way of a possible acquisition in the future to benefit from synergies.
The average PE for the JSE Main Market ICTOP 10 stands at 5.1, well below the market average of 13.9 and the Junior Market TOP10 sits at 6.7, just over half of the market, with an average of 13.3.
The Main Market ICTOP10 is projected to gain an average of 303 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 215 percent over the same period.
In the Main Market ICTOP 10, a total of 17 of the most highly valued stocks representing 33 percent of the Main Market are priced at a PE of 15 to 102, with an average of 30 and 19 excluding the highest PE ratios, and a PE of 24 for the top half and 16 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 14 stocks, or 30 percent of the market, with PEs ranging from 15 to 53, averaging 21, well above the market’s average. The average PE for the top half of the market is 18, possibly the lowest fair value measure for stocks currently.
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.
Persons who compiled this report may have an interest in securities commented on in this report.