Trading on the Jamaica Stock Exchange US dollar market ended on Monday, with the volume of stocks changing hands rising 72 percent and valued 69 percent lower than on Friday, resulting in the trading of eight securities compared to six on Friday with none rising, two declining and six ending unchanged.
Overall, 23,424 shares were exchanged for US$1,068 compared with 13,643 units at US$3,500 on Friday.
Trading averaged 2,928 units at US$133 compared to 2,274 shares at US$583 on Friday, with a month to date average of 15,708 shares at US$745 in comparison with 19,968 units at US$949 on the previous trading day and compares to December with an average of 28,010 units for US$1,403.
The US Denominated Equities Index sank 0.82 points to end the day at 241.48.
The PE Ratio, a measure used in computing appropriate stock values, averages 10.4. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending and or around August 2024.
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, First Rock Real Estate USD share remained at 4.89 US cents after it closed with an exchange of 1,900 units, 
Margaritaville shed 2.3 cents to finish at 10.1 US cents, with 87 stocks crossing the market, MPC Caribbean Clean Energy ended at 57 US cents with investors trading 165 shares. Productive Business Solutions ended at US$1.78 after an exchange of one stock unit, Proven Investments remained at 14.5 US cents with 3,765 shares crossing the market, Sygnus Credit Investments ended at 9 US cents in trading 170 stocks and Transjamaican Highway sank 0.04 of a cent and ended at 1.68 US cents after exchanging 17,335 units.
In the preference segment, Productive Business Solutions 9.25% preference share ended at US$11.50 with investors trading one stock unit.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
No gains for JSE USD stocks on Monday
Honey Bun jumps into ICTOP 10
Honey Bun jumped into the Junior Market IC TOP10 this week in the sixth place, while Access Financial dropped out in a week when both of the Main and Junior markets declined in value compared to the 2023 year end close. Honey Bun rose to the ICTOP 10 following the release of the 2023 full year results, showing profit after tax rising 14 percent to $232 million, with indications that the 2024 performance should see profits hitting 80 cents per share with a PE of 8 currently.
Honey Bun sales income rose 16 percent for the fiscal year but only 8 percent in the final quarter.
t the close of the market on Friday, five Junior Market stocks gained between two and eight percent and three fell by 2 percent and 18 percent, while just two Main Market stocks rose at 2 and to four percent and seven fell by 7 percent or less.
The Main Market ICTOP10 ended with, 138 Student Living gaining 4 percent to $4.05. Declining stocks include JMMB Group down seven percent to $24.25, Pulse Investments with a six percent fall to $1.97 and General Accident down four percent to $4.66.
The Junior Market ended the week, with Lasco Manufacturing rising eight percent to $4.64, Lasco Distributors up seven percent to $4 and AMG Packaging climbing six percent to $3.20. Jamaican Teas dropped eighteen percent to $2.31, as investors seem to ignore a positive report on the group that was published in the Financial Gleaner on Friday.
The average PE for the JSE Main Market ICTOP 10 stands at 5.2, well below the market average of 13.4 and the Junior Market TOP10 sits at 7.3, just over half of the market, with an average of 13.4.
The Main Market ICTOP10 is projected to gain an average of 292 percent by May 2024, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 189 percent over the same time frame.
In the Main Market ICTOP 10, a total of 14 of the most highly valued stocks representing 29 percent of the Main Market are priced at a PE of 15 to 110, with an average of 32 and 21 excluding the highest PE ratios, and a PE of 25 for the top half and 18 excluding the stocks with overweight values.
In the Junior Market, there are 12 stocks, or 25 percent of the market, with PEs from 15 to 50, averaging 23, well above the market’s average. The top half of the market has an average PE of 18, possibly the lowest fair value for stocks.
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 2024 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.
New year’s bounce for JSE USD Market
US dollar denominated stocks pushed the Jamaica Stock Exchange US dollar market higher to start off the new year on a positive note when trading ended on Tuesday as the volume of stocks changing hands declined by 86 percent with the value 79 percent lower than on Friday, resulting in seven securities being traded, compared to 10 on Friday with two rising, three declining and two ending unchanged.
At the close of market activity, 51,389 shares were traded, for US$5,071 compared to 367,867 units at US$23,588 on Friday.
Trading averaged 7,341 units at US$724 versus 36,787 shares at US$2,359 on Friday, compared to December with an average of 28,010 units for US$1,403.
The US Denominated Equities Index gained 6.62 points to cease trading at 237.81.
The PE Ratio, a measure used in computing appropriate stock values, averages 10.3. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending and or around August 2024.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and none with a lower offer.
At the close, Margaritaville dipped 0.1 of a cent to end at 12.4 US cents with 78 being traded, Productive Business Solutions ended at US$1.78 in trading 1,011 units, Proven Investments fell 0.05 of a cent in closing at 14.95 US cents with 7,526 shares clearing the market. Sterling Investments remained at 1.6 US cents while exchanging 6,205 units, Sygnus Credit Investments popped 0.01 of a cent to 8.01 US cents with a transfer of 1,000 shares and Transjamaican Highway skidded 0.11 of one cent to 1.63 US cents after an exchange of 35,445 stocks.
In the preference segment, Productive Business Solutions 9.25% preference share popped 30 cents and ended at US$11.50 in switching ownership of 124 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
ICTOP10 bounce as Main Market breaks higher
2023 was not a great year for the Jamaica Stock Market, with all three JSE markets declining moderately and sending powerful messages to investors, with several companies reporting increased profit, enjoying increased prices. Transjamaican Highway delivered an outstanding performance, ending the year up 93 percent and paid a 19 cents dividend for an overall return of 106 percent for the year.
Transjamaican Highway gained 93% for 2023.
Readers of this publication would have gotten a good lead ahead of the first set of results in the year with the stock listed as a Stock to Watch in April, with the price then at $1.77 and gained 53 percent since, plus the dividend.
Other notable gains were recorded by Ciboney at 107 percent, following a change in ownership of the company, Main Event rising 55 percent, Regency Petroleum rallied at 47 percent, Knutsford Express at 45 percent and Dolphin Cove at 39 percent plus paying dividends of $1.85 during the year thus raising the returns to 53 percent.
There were several disappointing performances but one message is the import of proper stock selections and the benefits of portfolio diversification.
The Main Market all Jamaica Composite Index rose 17,082 points or 5 percent and the Junior Market just 2 percent during December, with technical indicators showing the Main Market now in a bullish state, having broken out sharply from a wedge formation, but the Junior Market remains under pressure for the time being, except for a limited number of stocks.
At the close of the market, four Junior Market stocks gained between eight and 26 percent and 5 fell by 7 percent and less, while three Main Market stocks rose between one to 15 percent and two fell by 6 percent each.
The Main Market ICTOP10 ended with, Palace Amusement gaining 15 percent to $1.40, followed by JMMB Group up 4 percent to $26 and Margaritaville 3 percent to $17.58, while 138 Student Living and Key Insurance declined 6 percent each two $3.89 and $2.25 respectively.
The Junior Market ended the week, with Caribbean Cream jumping 26 percent to $4.59, Jamaican Teas popping 21 percent to $2.80, a 52 weeks’ high. AMG Packaging climbed 12 percent to $3.02 and Tropical Battery rose 8 percent to end the week at $1.90. Lasco Manufacturing fell 7 percent to $4.31, Lasco Distributors and Paramount Trading fell by 4 percent each to $3.75 and $1.60 respectively.
Tropical Battery dropped out of the IC Junior Market TOP10, and Access Financial replaced it.
Indications of where stock prices could be by May 2024 can be seen from stocks with the highest values in the Main and Junior Markets.
The average PE for the JSE Main Market ICTOP 10 stands at 5.3, well below the market average of 14 and the Junior Market TOP10 sits at 7.3, just over half of the market, with an average of 14.1.
The Main Market ICTOP10 is projected to gain an average of 286 percent by May 2024, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 184 percent over the same time frame.
In the Main Market ICTOP 10, a total of 15 of the most highly valued stocks representing 31 percent of the Main Market are priced at a PE of 15 to 108, with an average of 32 and 23 excluding the highest PE ratios, and a PE of 26 for the top half and 19 excluding the stocks with overweight values.
In the Junior Market, there are 16 stocks, or 33 percent of the market, with PEs from 15 to 55, averaging 22, well above the market’s average. The top half of the market has an average PE of 20, possibly the lowest fair value for stocks.
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 2024 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.
Trading jumps on the JSE USD Market
The Jamaica Stock Exchange US dollar market ended on Friday, with a 1,081 percent jump in the volume of stocks changing hands and the value jumping 3,472 percent more than on Thursday, resulting in the trading of 10 securities up from five on Thursday and ended with five rising, two declining and three ending unchanged.
Overall, 367,867 shares were traded, for US$23,588 compared with 31,154 units at US$662 on Thursday.
Trading averaged 36,787 units at US$2,359 versus 6,231 shares at US$132 on Thursday, with a month to date average of 28,010 shares at US$1,403 compared with 27,035 units at US$1,296 on the previous day. November ended with an average of 249,102 units for US$14,204.
The US Denominated Equities Index rose 6.56 points to close at 231.05, down 1.2 percent for the year.
The PE Ratio, a measure used in computing appropriate stock values, averages 10.4. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending and or around August 2024.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, First Rock Real Estate USD share remained at 4.37 US cents in trading 1,000 stock units, Margaritaville advanced 1.6 cents to 12.5 US cents after 168 shares passed through the market, Productive Business Solutions rose 23 cents to close at US$1.78 as investors exchanged 3,039 stocks. 
Proven Investments climbed 0.51 of one cent to end at 15 US cents after a transfer of 86,285 units, Sterling Investments ended at 1.6 US cents with traders dealing in 157 stocks, Sygnus Credit Investments sank 1 cent to 8 US cents in an exchange of 6,456 units. Sygnus Real Estate Finance USD share ended at 7 US cents with investors transferring 1,000 shares and Transjamaican Highway popped 0.09 of a cent to end at 1.74 US cents in an exchange of 269,258 stock units,
In the preference segment, JMMB Group 6% fell 4 cents in closing at US$1.01 with investors dealing in 500 shares and Productive Business Solutions 9.25% preference share gained 20 cents to close at US$11.20 after just 4 stocks were traded.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading plunged on JSE USD Market
Trading remained low keyed on the Jamaica Stock Exchange US dollar market on Thursday, with the volume of stocks changing hands declining 76 percent valued 90 percent lower than on Wednesday, with just 31,154 shares traded for US$662 down from 127,343 units at US$6,740 on Wednesday and resulting in trading in five securities, compared to six on Wednesday with one rising, two declining and two ending unchanged.
Trading averaged 6,231 units at US$132, versus 21,224 shares at US$1,123 on Wednesday, with a month to date average of 27,035 shares at US$1,296 compared with 28,258 units at US$1,365 on the previous day and well off from November with an average of 249,102 units for US$14,204.
The US Denominated Equities Index gained 2.06 points to 224.49.
The PE Ratio, a measure used in computing appropriate stock values, averages 10.2. The PE ratio is computed based on the last traded price divided by projected earnings that are computed by ICInsider.com for companies with their financial year ending and or around August 2024.
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, Margaritaville dipped 1.6 cents and ended at 10.9 US cents while exchanging 1,008 stock units, 
Productive Business Solutions ended at US$1.55 with investors swapping 35 stocks, Proven Investments fell 0.42 of a cent to 14.49 US cents after an exchange of 9 shares. Sygnus Credit Investments ended at 9 US cents with a transfer of 4 stocks and Transjamaican Highway climbed 0.05 of a cent to end at 1.65 US cents as investors exchanged 30,098 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Subdued trading on the JSE USD Market
Trading resumed on Wednesday on the Jamaica Stock Exchange US dollar market after the break for the Christmas Holidays and ended with a 20 percent decline in the volume of stocks changing hands but with 146 percent greater value than on Friday, resulting in trading in six securities, similar to Friday and ended with prices of three stocks rising, one declining and two ending unchanged.
At the close of trading, 127,343 shares were exchanged at US$6,740 compared with 159,494 stock units at US$2,742 on Friday.
Trading ended with an average of 21,224 shares at US$1,123 compared to 26,582 shares at US$457 on Friday, with a month to date average of 28,258 units at US$1,365 compared with 28,793 stock units at US$1,383 previously. November ended with an average of 249,102 shares for US$14,204.
The US Denominated Equities Index added 1.32 points to close at 222.42.
The PE Ratio, a measure used in computing appropriate stock values, averages 10.4. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending and or around August 2024.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Margaritaville rose 1.75 cents to close at 12.5 US cents in exchanging 95 shares, Proven Investments climbed 0.91 of one cent to 14.91 US cents after trading of 3,543 stocks, Sterling Investments popped 0.02 of a cent to close at 1.6 US cents with a transfer of 350 shares. Sygnus Credit Investments ended at 9 US cents after 8,525 stocks were exchanged and Transjamaican Highway ended at 1.6 US cents with a transfer of 114,502 shares.
In the preference segment, Productive Business Solutions 9.25% preference share dipped 50 cents to US$11, with 328 units clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Mostly price gains for ICTOP10
The Main Market of the JSE rose around two percent and Junior Market just under one percent for the week and led the top 10 mostly higher, with 7 Main Market and 4 Junior Market stocks rising with declining stocks recording losses of 4 percent or less, at the same time one stock moved out of the TOP10.
The Main Market ICTOP10 ended with, General Accident declined 11 percent to $4.50. Buying interest picked up during the week for Scotia Group pushing the stock to several 52 weeks’ highs and a rose of 7 percent for the week to a 52 weeks’ closing high of $38.40. This stock has much more juice left that should take it into the $40 range by early 2024. Caribbean Producers rallied 6 percent to $9, while Margaritaville also rose 6 percent and closed at $17 and Pulse Investments rose 5 percent to $2.09 and Key Insurance slipped 4 percent to $2.40.
The Junior Market ended the week, with AMG Packaging climbing 17 percent to $2.70, buying is not aggressive currently while supplies up to $3.15 is limited, with none on offer until $10. Investors should expect a big bounce in the first quarter profits due by mid-January. The company states that they are exploring the possibility of new equipment and expanded facilities that could shape a future expansion of momentous proportions. Caribbean Cream rose 10 percent to $3.64 and Stationery and Office Supplies gained 9 percent and dropped out of the TOP10 and is replaced by Tropical Battery. There were no notable declines at the end of the week.
There was no new addition to the IC Main Market TOP10.
Indications of where stock prices could be by May 2024 can be seen from stocks with the highest values in the Main and Junior Markets.
The average PE for the JSE Main Market ICTOP 10 stands at 5.3, well below the market average of 13.1. The Main Market ICTOP10 is projected to gain an average of 288 percent by May 2024, based on 2023 forecasted earnings and now provides better values than the Junior Market with the potential to gain 195 percent over the same time frame.
In the Main Market ICTOP10, 15 of the most highly valued stocks, 31 percent of the Main Market are priced at a PE of 15 to 108, with an average of 29 and 18 excluding the highest PE ratios, and a PE of 24 for the top half and 16 excluding the stocks with overweight values.
The PE of the Junior Market TOP10 sits at 7, just over half of the market, with an average of 13.2. There are 14 stocks, or 29 percent of the market, with PEsfrom 15 to 49, averaging 21, well above the market’s average. The top half of the market has an average PE of 18, possibly the lowest fair value for stocks.
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 2024 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.
Trading plunges on the JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Tuesday, with the volume of stocks changing hands dropping 83 percent valued 89 percent lower than on Monday, resulting from trading in four securities compared to five on Monday with one rising, two declining and one ending unchanged.
Overall, 47,641 shares were traded, for US$822 down from 286,910 units at US$7,613 on Monday.
Trading averaged 11,910 units at US$205, versus 57,382 shares at US$1,523 on Monday, with a month to date average of 30,432 shares at US$1,588 compared with 31,647 units at US$1,679 on the previous day. November ended with an average of 249,102 units for US$14,204.
The US Denominated Equities Index rose 5.23 points to culminate at 221.58.
The PE Ratio, a measure used in computing appropriate stock values, averages 10.1. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending and or around August 2024.
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, Margaritaville skidded 2.15 cents to 10.75 US cents with investors trading 206 shares, Sygnus Credit Investments sank 0.2 of a cent to close at 8.8 US cents, with just one stock changing hands, Sygnus Real Estate Finance USD share ended at 7 US cents 130 shares were traded and Transjamaican Highway popped 0.01 of a cent in closing at 1.68 US cents, with 47,304 stock units crossing the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big price movements for ICTOP10
The Main and Junior Markets closed the week slightly lower, resulting in big gains and losses in the Junior Market while movements in the Main Market were more moderate than the Junior Market stocks and surprisingly there is only one new entrant into the top 10 listings, this week.
Scotia Group released full year results with EPS of $5.54 and announced the payments of a dividend of 40 cents per share, with the price hitting a new one year high on Friday. The dividend suggests a minimum payment of $1.60 per share over the next twelve months. Based on historical norms of 40-50 percent payout of profits it should be a higher payout. With the release of 2023 full year results, ICInsider.com switched over to 2024 earnings, with EPS at $7.50. Buying interest picked up during the week. The stock trades at an extremely low PE of 4.8 times projected 2024 earnings and still only 6.5 times based on earnings for 2023. AMG Packaging trades at 6.5 times 2024 earnings with only 58,816 shares on offer at the close on Friday and so is Jamaica Teas, with offers now generally above $2.53, with buyers mostly at $2.30, some selling came in for Access Financial this week, Caribbean Cement also has limited stocks on offer and so does Seprod.
Three Junior Market stocks gained 9 to 21 percent and three ended with 10 to 20 percent losses, while the Main Market had two stocks with worthwhile gains of 9 and 13 percent and three with sizable losses of 6 to 11 percent.
The Main Market ICTOP10 ended with, Key Insurance popping 13 percent to $2.49 and Scotia Group up 9 percent, while General Accident declined 11 percent to $4.50, Palace Amusement down 8 percent to $1.19 and 
Caribbean Producers lost 6 percent to close at $8.50.
The Junior Market ended, with Iron Rock Insurance jumping 21 percent to $2.50, followed by Lasco Distributors and Lasco Manufacturing rising 9 percent each to $3.93 and $4.63 respectively. AMG Packaging dropped 20 percent to $2.30, Caribbean Cream and Jamaica Teas fell 10 percent to $3.31 and $2.30 respectively.
Tropical Battery dropped out of the Junior Market ICTOP10 and is replaced by Elite Diagnostic. There were no changes in the IC Main Market TOP10
Indications of where stock prices could be by May 2024 can be seen from stocks with the highest values in the Main and Junior Markets.
The average PE for the JSE Main Market ICTOP 10 stands at 5.1, well below the market average of 12.8. The Main Market ICTOP10 is projected to gain an average of 299 percent by May 2024, based on 2023 forecasted earnings and now provides better values than the Junior Market with the potential to gain 204 percent over the same time frame.
In the Main Market ICTOP 10, a total of 15 of the most highly valued stocks representing 31 percent of the Main Market are priced at a PE of 15 to 108, with an average of 28 and 18 excluding the highest PE ratios and a PE of 23 for the top half and 16 excluding the stocks with overweight values.
The PE of the Junior Market TOP10 sits at 6.8, over half of the market, with an average of 13.2. There are 13 stocks, or 27 percent of the market, with PEs from b>15 to 50, averaging 21, well above the market’s average. The top half of the market has an average PE of 18, possibly the lowest fair value for stocks.
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 2024 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.