Trading surged on the Jamaica Stock Exchange US dollar market ended on Tuesday, with a 4,733 percent leap in the volume of stocks exchanged after a 256 percent jump in the amount of money changing hands compared to Monday, resulting in trading in eight securities, compared to seven on Monday with prices of three rising, three declining and two ending unchanged.
The market closed with an exchange of 2,937,043 shares for US$118,791 compared to 60,767 units at US$33,398 on Monday.
Trading averaged 367,130 units at US$14,849 versus 8,681 shares at US$4,771 on Monday, with a month to date average of 91,011 shares at US$6,228 compared with 38,416 units at US$4,586 on the previous day and February that ended with an average of 46,765 units for US$6,084.
The US Denominated Equities Index dropped 8.81 points to settle at 256.38.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.5. 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 six stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, Margaritaville slipped 1 cent to 10 US cents in an exchange of 534 stocks, MPC Caribbean Clean Energy dipped 1 cent to 54 US cents, with 176 units crossing the market, Proven Investments popped 0.1 of a cent to end at 14.5 US cents as investors exchanged 384,951 shares. 
Sygnus Credit Investments remained at 8.99 US cents after a transfer of 2,814 stocks and Transjamaican Highway fell 0.24 of a cent to close at 2.03 US cents in clearing the market of 2,543,144 shares.
In the preference segment, JMMB Group US8.5% preference share rose 1.01 cents to US$1.1601 in an exchange of 1,329 stocks. JMMB Group 5.75% ended at US$1.91 with investors transferring 4,093 units and Sygnus Credit Investments US8% climbed 10 cents to close at US$10.60 after an exchange of two stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big surge in JSE USD trading
Trading plunged on JSE US Market
Investors traded more securities on the Jamaica Stock Exchange US dollar market on Monday, but the volume of stocks exchanged declined 92 percent with a 48 percent lower value than on Friday, resulting in trading in seven securities, compared to four on Friday with prices of no rising, four declining and three ending unchanged.
The market closed with an exchange of 60,767 shares for US$33,398 compared to 765,260 units at US$64,253 on Friday.
Trading averaged 8,681 units at US$4,771 versus 191,315 shares at US$16,063 on Friday, with a month to date average of 38,416 shares at US$4,586 compared with 44,363 units at US$4,549 on the previous day and February that ended with an average of 46,765 units for US$6,084.
The US Denominated Equities Index advanced 9.35 points to end trading at 265.19.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.7. 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 seven stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, Margaritaville shed 1 cent to end at 11 US cents after an exchange of 2,806 stock units, Proven Investments ended at 14.4 US cents in switching ownership of 300 stocks and Transjamaican Highway fell 0.03 of a cent in closing at 2.27 US cents, with 41,298 shares crossing the exchange.
In the preference segment, JMMB Group US8.5% preference share dipped 1 cent to close at US$1.15 with a transfer of 1,800 stock units, JMMB Group 5.75% remained at US$1.91 after 14,303 shares passed through the market, Sygnus Credit Investments US8% ended at US$10.50 after 160 stock units changed hands and Sygnus Credit Investments E8.5% sank 10 cents to close at US$10.40 in trading 100 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Honey Bun jumps ICTOP10 SOS returns
There has been quite a high level of volatility in the ICTOP10 over the past two weeks, with a 19 percent jump in the price of Iron Rock Insurance to $2.51, with an 11 percent fall in ISP Finance to $28.10 and a drop of 10 percent in AMG Packaging to $3.18 as The Junior Market closed with Stationery & Office Supplies returning to the TOP10 based on projected earnings for 2024 but Honey Bun rose to $7.30 and dropped out of the TOP10.
Stationary & Office Supplies – Montego Bay office.
In the Main Market, 138 Student Living plunged 28 percent to $3.03 followed by a 16 percent fall for Margaritaville to $14.25, while Pulse Investments rose 13 percent to $2.14 and Kay Insurance rallied 12 percent to $2.67.
For the full list of weekly percentage changes for the ICTOP10 stocks, check the attached charts for the weekly percentage price movements.
The average PE for the JSE Main Market ICTOP 10 stands at 5.5, 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 13.1.
The Main Market ICTOP10 is projected to gain an average of 284 percent by May 2024, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 174 percent over the same period.
In the Main Market ICTOP 10, a total of 17 of the most highly valued stocks representing 35 percent of the Main Market are priced at a PE of 15 to 108, 
with an average of 28 and 20 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 IC TOP10 are 11 stocks, or 23 percent of the market, with PEs ranging from 15 to 46, averaging 21.5, 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 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 surge on JSE USD Market
Trading picked up sharply on the Jamaica Stock Exchange US dollar market ended on Friday, with the volume of stocks exchanged rising 933 percent after 190 percent bounce in the amount of US dollars that changed hands compared with trading on Thursday, similar to trading on Thursday the market closed on Friday with trading in four securities, with prices of two rising, one declining and one ending unchanged.
The market closed with an exchange of 765,260 shares for US$64,253 up sharply from 74,096 units at US$22,194 on Thursday.
Trading averaged 191,315 units at US$16,063 versus 18,524 shares at US$5,548 on Thursday, with a month to date average of 44,363 shares at US$4,549 compared with 25,402 units at US$3,063 on the previous day and February with an average of 46,765 units for US$6,084.
The US Denominated Equities Index dropped 13.20 points to conclude trading at 255.84.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.8, 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 ended at 12 US cents while exchanging 160 stocks, Proven Investments dipped 0.1 of a cent in closing at 14.4 US cents after trading 23,545 units and Transjamaican Highway advanced 0.05 of a cent to 2.3 US cents after an exchange of 717,424 shares.
In the preference segment, JMMB Group 5.75% popped 1 cent and ended at US$1.91 with investors transferring 24,131 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading rises on the JSE USD market
Trading on the Jamaica Stock Exchange US dollar market ended on Friday, with the volume of stocks exchanged rising 40 percent after 48 percent fewer US dollars changed hands compared with Thursday, resulting in trading in eight securities, compared to seven on Thursday with prices of two rising, four declining and two ending unchanged.
The market closed with an exchange of 30,628 shares for US$3,928 compared with 21,861 units at US$7,612 on Thursday.
Trading averaged 3,829 units at US$491 compared with 3,123 shares at US$1,087 on Thursday, compared with February with an average of 46,765 units for US$6,084.
The US Denominated Equities Index dropped 5.26 points to end the day at 258.25.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.8. 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, Margaritaville climbed 0.25 of one cent and ended at 12 US cents after a transfer of 300 units, Productive Business Solutions ended at US$1.80 after 104 stocks passed through the market, Proven Investments declined 0.49 of one cent to end at 13.95 US cents in switching ownership of 500 shares. 
Sterling Investments fell 0.29 of a cent in closing at 1.7 US cents, with 329 stock units crossing the market, Sygnus Credit Investments dropped 0.17 of a cent to close at 8.8 US cents with investors transferring 1,000 shares and Transjamaican Highway rose 0.01 of a cent to 2.11 US cents after trading of 26,564 stocks.
In the preference segment, JMMB Group US8.5% preference share remained at US$1.1489 with an exchange of 1,732 units and Productive Business Solutions 9.25% preference share lost US$1.50 and ended at US$10, with 99 stock units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Record close for JSE USD market
The Jamaica Stock Exchange US dollar market ended at a record close on Thursday with the volume of stocks traded declining by 83 percent after a 70 percent drop in the amount of dollars changing hands on Wednesday, resulting in trading in seven securities, compared to five on Wednesday with prices of two rising, four declining and one ending unchanged.
The market closed with an exchange of 21,861 shares for US$7,612 compared to 125,830 units at US$25,026 on Wednesday.
Trading averaged 3,123 units at US$1,087 versus 25,166 shares at US$5,005 on Wednesday, with a month to date average of 46,765 shares at US$6,084 compared with 49,133 units at US$6,355 on the previous day and January that ended with an average of 46,765 units for US$6,084.
The US Denominated Equities Index popped 3.04 points to close at a record high of 263.47.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.8. 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 three 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 gained 0.4 of one cent and ended at 4.5 US cents after investors finished trading 200 stocks, Margaritaville dropped 1.03 cents to 11.75 US cents while exchanging 325 units, 
Productive Business Solutions sank 5 cents to end at US$1.80 with an exchange of 3,157 shares. Proven Investments remained at 14.44 US cents after 1,046 stock units changed hands, Sygnus Credit Investments popped 0.07 of a cent to close at 8.97 US cents after a transfer of 100 shares and Transjamaican Highway skidded 0.01 of a cent to 2.1 US cents in switching ownership of 16,019 units.
In the preference segment, JMMB Group US8.5% preference share lost 0.01 of a cent to close at US$1.1489 with investors dealing in 1,014 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
ISP Finance & AMG tops ICTOP10
The Junior Market slipped by a few points at the end of the week but the Main Market declined around one percent, with Carreras and Wigton Windfarm hitting new 52 weeks’ highs.
AMG Packaging in ICTOP10
The Junior Market closed the week with ISP Finance jumping 26 percent to close at $31.50, a pretty high price based on the earnings of 57 cents per share in 2023, with 25 cents in the final quarter, with income jumping a solid 39.6 percent, that augurs very well for revenues and earnings for 2024. A close examination of the 2023 fiscal results reveals significant potential for revenues and profit ahead that should start in 2024. Watch for the first quarter numbers for this one.
There was an 18 percent jump in the price of AMG Packaging to close at $3.55, following the holding at the company’s AGM, Lasco Distributors rose 9 percent to $4.55. Lasco Manufacturing closed 4 percent higher at $5.09 after the price reached $6.14 on Friday, with the supply of the stock being sold drying up. Iron Rock Insurance dropped back 16 percent to $2.11 and in the Main Market TOP10, Palace Amusement shed 14 percent to close at $1.07.
For the full list of weekly percentage changes for the ICTOP10 stocks, check the attached charts for the weekly percentage price movements.
The average PE for the JSE Main Market ICTOP 10 stands at 5.3, well below the market average of 13.7 and the Junior Market TOP10 sits at 7.5 just over half of the market, with an average of 13.4.
The Main Market ICTOP10 is projected to gain an average of 281 percent by May 2024, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 170 percent over the same period.
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 108, with an average of 31 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 IC TOP10 are 12 stocks, or 25 percent of the market, with PEs ranging from 15 to 45, averaging 21, 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 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.
Gains for JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Friday, with the volume of stocks exchanged rising by 16 percent after 69 percent more US dollars changed hands than on Thursday and resulting in trading in four securities, compared to eight on Thursday with prices of one rising, one declining and two ending unchanged.
The market closed with an exchange of 361,086 shares for US$18,726 compared to 310,053 units at US$11,086 on Thursday.
Trading averaged 90,272 units at US$4,682 versus 38,757 shares at US$1,386 on Thursday, with a month to date average of 56,690 shares at US$7,191 compared with 55,399 units at US$7,287 on the previous day and January that ended with an average of 42,169 units for US$5,037.
The US Denominated Equities Index increased 4.73 points to 259.94.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.8. 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 three stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Margaritaville ended at 12.78 US cents in switching ownership of just one share, Sygnus Real Estate Finance USD share popped 1.04 cents in closing at 8.04 US cents after 647 units changed hands and Transjamaican Highway remained at 2 US cents with an exchange of 359,378 shares.
In the preference segment, Sygnus Credit Investments US 8% shed 4 cents and ended at US$10.50 after trading 1,060 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE USD Market falls
Trading on the Jamaica Stock Exchange US dollar market ended on Thursday, with the volume of stocks exchanged declining 38 percent after 89 percent fewer US dollars changed hands than on Wednesday and resulting in trading in eight securities, compared to six on Wednesday with prices of three rising, two declining and three ending unchanged.
Trading closed with an exchange of 310,053 shares for US$11,086 up from 497,176 units at US$96,746 on Wednesday.
Trading averaged 38,757 shares at US$1,386 versus 82,863 shares at US$16,124 on Wednesday, with a month to date average of 55,399 shares for US$7,287 compared with 56,785 units at US$7,779 on the previous trading day and January that ended with an average of 42,169 units for US$5,037.
The US Denominated Equities Index declined 5.65 points to end at 255.20.
The PE Ratio, a measure used in the computation of appropriate stock values, averages 9.8. 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 three stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Margaritaville popped 1.78 cents to close at 12.78 US cents after an exchange of 51 stocks, Proven Investments sank 1.4 cents to 13.6 US cents with investors swapping 3,109 units, 
Sterling Investments fell 0.25 of a cent and ended at 1.45 US cents with a transfer of 10,000 shares. Sygnus Credit Investments ended at 8.87 US cents in an exchange of 1,000 stock units, Sygnus Real Estate Finance USD share ended at 7 US cents in switching owners of 285 shares and Transjamaican Highway remained at 2 US cents as investors exchanged 291,661 units.
In the preference segment, JMMB Group US8.5% preference share rallied 7.9 cents to close at US$1.149, with 3,900 stocks crossing the market and JMMB Group 5.75% rose 10 cents to end at US$1.91 with investors transferring 47 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
ISP Finance & Guardian join ICTOP10
The performance of the Jamaica Stock Exchange in the near term is expected to be influenced by the pile of results dumped on the market in the past week, with varying degrees of success. Based on results for the December quarter, Caribbean Producers’ earnings were adjusted down to $1.15 per share, resulting in the stock falling out of the TOP10, with Guardian Holdings replacing it and ISP Finance entering the Junior Market listing in replacing Elite Diagnostic following the release of full year earnings, with ICInsider.com projected earnings per share of $4 for ISP for 2024.
For a second consecutive week, the Junior Market ended with minimal price changes, ranging from 4 percent and less and none with a negative price movement, while the Main Market had only two stocks with negative price changes, with Pulse Investments, the highest with a fall of 7 percent to $1.85 and 138 Student Living slipping 3 percent, while Margaritaville popped 18 percent to close at the week at $17.48, Caribbean Producers rose 6 percent to $9.64 following the release of nine months results that saw profit for the second quarter rising 17.6 percent to US$2 million but with the six months results, down marginally to US$3.28 million versus $3.35 million in 2022. Key Insurance rose 5 percent to $2.31 and Palace Amusement gained 4 percent to close at $1.25 following news of a sold-out opening night for the Marley movie that nearly doubled that of the highly successful Black Panther.
For the full list of weekly percentage changes for the ICTOP10 stocks, check the attached charts that now carry a column of the weekly percentage price movements.
The average PE for the JSE Main Market ICTOP 10 stands at 5.4, well below the market average of 13.7 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 279 percent by May 2024, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 177 percent over the same period.
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 30 and 24 excluding the highest PE ratios, and a PE of 25 for the top half and 17 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 13 stocks, or 27 percent of the market, with PEs ranging from 15 to 45, 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, 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 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.
