With what has become the norm, the markets pulled back to start April from the pump-up end of month prices in March, resulting in varied outcomes for the ICTOP10 and ending with Jamaica Broilers falling from the Main Market TOP10 and Caribbean Producers entering at the number 9 spot.
There were no changes to the list of companies in the Junior Market TOP10 this past week.
Caribbean Producers is the primary supplier of foods and beverages to the growing tourist industry on the north coast of Jamaica and St Lucia, the company is also expanding its meat processing arm as well as retail areas in both countries. ICInsider.com’s projected EPS is $1.35 for the fiscal year to June 2024. With plans for long term growth in the local tourism sector, the company has a B base for growth for many years to come.
Jamaica Broilers although out of the TOP10, is undervalued and possesses good long term growth prospects as they constantly spend resources to expand or modernise the operation.
In Main Market activity this past week, General Accident jumped 16 percent to $6.15, a 52 weeks’ high, with buying interest in recent weeks, being very high and active supply in the market low, a recipe for higher prices ahead and Key Insurance lost 14 percent to end at $2.22.
The Junior Market closed the week with a 17 percent jump for Iron Rock Insurance to $2.51 while Consolidated Bakeries gained 8 percent to $2.19 but Jamaican Teas dropped 13 percent to $2.40 and Caribbean Cream lost 8 percent to land at $3.58 while Express Catering and Access Financial fell by 7 percent to $3.70 and $19.86 respectively.
The average PE for the JSE Main Market ICTOP 10 stands at 5.5, well below the market average of 13.1 and the Junior Market TOP10 sits at 7.2 over half of the market, with an average of 12.5.
The Main Market ICTOP10 is projected to gain an average of 274 percent by May 2025, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 183 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 106, with an average of 30 and 27 excluding the highest PE ratios, and a PE of 24 for the top half and 21 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 9 stocks, or 20 percent of the market, with PEs ranging from 15 to 50, averaging 22, well above the market’s average. The top half of the market has an average PE of 17, possibly the lowest fair value for stocks, currently.
Of great import is that the averages of both markets are now converging around a PE of 20 for close to a third of the market, as the year is coming to a close and with more information available on the full year’s earnings.
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 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.
With the 2024 financial year ending in March, the two companies will see a bump in earnings for 2025 and likely put them in the ICTOP10 again. Since the switch in listing, the number of stocks offered for sale has declined sharply and so have the bids to buy.
The Main Market ICTOP10 is projected to gain an average of 270 percent by May 2024, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 178 percent over the same period.
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 209,773 shares for US$28,768 compared to 186,609 units at US$46,047 on Thursday.
Margaritaville ended at 10 US cents in trading 3,335 shares. Proven Investments popped 0.99 of one cent to 14.89 US cents, with 181,504 stocks crossing the exchange, Sterling Investments fell 0.05 of a cent to end at 1.65 US cents in switching ownership of 1,267 shares, Sygnus Credit Investments rose 0.7 of a cent to 8 US cents as investors traded 2,983 stock units and Transjamaican Highway remained at 2.18 US cents after trading 9,137 stocks.
The market closed with an exchange of 560,085 shares for US$19,785 compared with 304,275 stock units at US$13,337 on Tuesday.
Productive Business Solutions remained at US$1.70, with 2,540 units crossing the market, Proven Investments rallied 1.1 cents to 15.9 US cents with investors trading 29,228 shares. Sterling Investments shed 0.1 of a cent to end at 1.6 US cents, with an exchange of 11 stock units, Sygnus Credit Investments increased 0.98 of one cent in closing at 8 US cents in switching ownership of 1,120 shares, Sygnus Real Estate Finance USD share popped 0.03 of a cent to 9 US cents while exchanging 459 stocks and Transjamaican Highway dropped 0.03 of a cent in closing at 2.2 US cents after 511,536 units passed through the market.
The market closed with an exchange of 84,506 shares for US$3,441 compared to 303,812 units at US$36,667 on Wednesday.
At the close, AS Bryden shed 0.39 of one cent to 22.01 US cents while exchanging one share, First Rock Real Estate USD share ended at 4.99 US cents with traders dealing in 50 stocks, Margaritaville remained at 10 US cents, with 25 shares crossing the market. Proven Investments dropped 0.11 of a cent and ended at 14.88 US cents after trading 3,233 stocks and Transjamaican Highway remained at 2.2 US cents with investors dealing in 80,197 shares.
The market closed with an exchange of 303,812 shares for US$36,667 up from 154,383 units at US$11,426 on Tuesday.
Sterling Investments advanced 0.07 of a cent to close at 1.69 US cents with 58 stock units crossing the market, Sygnus Credit Investments lost 0.1 of a cent to end at 8.6 US cents in switching ownership of 11 shares, Sygnus Real Estate Finance USD share ended at 11 US cents, with 1,000 stocks changing hands and Transjamaican Highway rose 0.03 of a cent to 2.2 US cents and closed with an exchange of 245,862 units.
The market closed with an exchange of 154,383 shares for US$11,426 compared to 90,769 units at US$18,681 on Monday.
Productive Business Solutions remained at US$1.70, with 58 units crossing the market. Proven Investments fell 1 cent and ended at 14.99 US cents with investors swapping 13,000 stocks, Sterling Investments sank 0.07 of a cent to close at 1.62 US cents, with 103,138 shares crossing the market, Sygnus Credit Investments remained at 8.7 US cents with investors dealing in 16 stock units and Transjamaican Highway dipped 0.02 of a cent to end at 2.17 US cents in an exchange of 33,026 stocks.
The market closed with an exchange of 90,769 shares for US$18,681 up from 83,304 units at US$2,577 on Friday.
At the close, Margaritaville slipped 1 cent to end at 10 US cents with 70,084 stocks clearing the market, Productive Business Solutions ended at US$1.70 in switching just one unit, Proven Investments ended at 15.99 US cents after investors traded 1,918 shares. Sygnus Real Estate Finance USD share dipped 1.74 cents to close at 11 US cents after 7,038 units crossed the exchange and Transjamaican Highway remained at 2.19 US cents after a transfer of 2,728 shares.
Edufocal suffered a major drop in price in the past week to $1.05 from $1.13 at the start and landed in an ICTOP10 Junior Market, in position number 7, at the same time, AMG Packaging gained just 5 percent to close at $3.44 and dropped out of the top tier to sit at the twelfth position. 
The average PE for the JSE Main Market ICTOP 10 stands at 5.6, well below the market average of 13.9 and the Junior Market TOP10 sits at 7.4 over half of the market, with an average of 13.
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 83,304 shares for US$2,577 compared to 29,463 units at US$5,112 on Thursday.
At the close, AS Bryden rallied 0.39 of a cent in closing at 22.4 US cents after trading of 1,400 shares, First Rock Real Estate USD share closed at 4.99 US cents after 7,200 stocks were traded, Margaritaville increased 0.99 of one cent to end at 11 US cents, with 452 shares crossing the exchange. Proven Investments remained at 15.99 US cents with investors swapping 321 stock units, Sterling Investments fell 0.01 of a cent and ended at 1.69 US cents with a transfer of 65 shares, Sygnus Credit Investments ended at 8.7 US cents with 3,327 stocks crossing the market and Transjamaican Highway climbed 0.03 of a cent in closing at 2.19 US cents in an exchange of 70,538 units.