The Junior Market of the Jamaica Stock Exchange recorded solid gains during the past week as the Main Market declined, resulting in three solid gains for the ICTOP10 Junior Market stocks and just one notable move in the performance of the ICTOP10 Main Market as General Accident added 18 percent to its value to be the best performing stock for the week.
General Accident selling supply of stocks is down sharply.
The Junior Market had one change in the TOP10 as Honey Bun moved out for a second time in weeks with a rise of 8 percent, allowing Dolla Financial to come in at number 10. Dolla is likely to enjoy a doubling in profit for the current year, having expanded the loan portfolio dramatically since taking on the billion dollar loan. Investors in the stock can look forward to healthy gains in the stock price during the year.
Main Event, one of the previous week’s top performers that exited the Top 10 with a 6 percent gain to close at $12.95, keeps on rolling on and climbed another 13.5 percent this week to $14.70, up 63.5 percent for the year to date as investors continue to applaud the company’s performance by buying up the stocks as they see more profits to come this year, with the economy fully opened up for entertainment.
The other major price movements during the week were a 9 percent rise for Lasco Distributors, that ended at $2.36 and Honey Bun, up 8 percent to $6.57. There are only two stocks with losses of two percent or less.
In the Main Market, only three stocks recorded declines, but Berger Paints was the only stock with a meaningful move, gaining 8 percent to $8.30.
Interest rates on Bank of Jamaica CDs dipped again at this past week’s auction that, which saw the average rate slipping to 8.21 percent from 8.41 percent at the previous week’s auction. Over the past five months, inflation has been running at less than one percent per annum, which has set the stage for BOJ to act quickly to slash interest rates, a positive development for the market.
The Junior Market’s long history of rising around a month before the release of quarterly results and declining shortly after results are released seems to be starting with a rise of 108 points in the market index this past week, with the supply of some stocks falling sharply.
Honey Bun’s fall from the TOP10 Junior Market list is not the end of the road for this outstanding performer with increased investors’ interest with an expected jump in revenues and profits for the first quarter with the Easter coming at the beginning of April versus the 17th of April last year as well as improvement of gross profit margin that slipped previous year. ICInsider.com expects the price to increase by up to 200 percent this year.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.5, well below the market average of 13.7, while the Junior Market Top 10 PE sits at 5.9 compared with the market at 11.6. The differences are important indicators of the level of likely gains for ICTOP10 stocks. The Junior Market is projected to rise by 246 percent and the Main Market TOP10 by an average of 273 percent, by May 2024, based on 2023 forecasted earnings.
The Junior Market has 13 stocks representing 27 percent of the market, with PEs from 15 to 27, averaging 19, well above the market’s average. The top half of the market has an average PE of 16, suggesting this may be the current lowest fair value for Junior Market stocks.
The 16 highest valued Main Market stocks are priced at a PE of 15 to 114, with an average of 31 and 21 excluding the highest PE stocks and 20 for the top half excluding the stocks with the highest valuation.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but not always. 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 up to the end of May 2023 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.
A total of 9,481,950 shares were traded for $117,605,489 versus 20,316,713 units at $95,105,433 on Thursday.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.7 for the Main Market. The JSE Main and USD Market PE ratios are computed based on the last sale prices of stocks and earnings forecasted by ICInsider.com for companies with the financial year ending between November 2022 and August 2023.
Massy Holdings lost $2.75 to close at $85.25, with 214,948 shares clearing the market, Pan Jamaica Group advanced $3.79 to end at $56.79 with investors trading 2,692 stocks, Proven Investments gained 66 cents in closing at $26.50 after an exchange of 1,150 shares, Seprod fell $1 to $69 in swapping 4,703 stocks, Supreme Ventures rallied 89 cents to end at $27.89 with investors transferring 50,497 units and Sygnus Real Estate Finance rose 70 cents in closing at $10 with an exchange of 2,000 stock units.
In the preference segment, Jamaica Public Service 7% gained $3.35 after ending at $39 as investors exchanged 1,000 shares and Jamaica Public Service 9.5% dipped $150 to close at $2850 in trading 15 stock units.
A total of 20,316,713 shares were traded for $95,105,433 compared to 19,169,248 units at $107,354,551 on Wednesday.
the JSE Main Index climbed 275.12 points to close at 331,585.25 and the JSE Financial Index increased 0.15 points to settle at 76.24.
JMMB Group climbed 74 cents in closing at $31.48 with swapping of 37,477 stocks, Kingston Properties shed 84 cents to end at $6.51 in an exchange of 5,231 units, Kingston Wharves advanced $1.11 to close at $32.11, with 3,358 shares crossing the market, Massy Holdings lost $3 to end at $88 after exchanging 2,776 units, NCB Financial rallied $1 in closing at $72.50 with an exchange of 21,741 stock units, Pan Jamaica Group dropped 90 cents to close at $53 after an exchange of 176,780 stocks, Sagicor Group popped $1 to $50 in an exchange of 8,988 stock units, Seprod increased $3 after ending at $70 with a transfer of 4,187 stocks, Supreme Ventures gained 50 cents after ending at $27 with 9,242 shares crossing the exchange and
Wisynco Group increased 56 cents in closing at $17.34 while exchanging 20,623 units.
A total of 19,169,248 shares were traded for $107,354,551, up from 8,067,288 units at $74,863,539 on Tuesday.
The All Jamaican Composite Index dipped 2,286.40 points to 369,887.60, the JSE Main Index dropped 3,351.63 points to 331,310.13 and the JSE Financial Index fell 0.79 points to finish at 76.09.
Jamaica Producers dipped $1 after ending at $21, after 106,910 shares passed through the market, Jamaica Stock Exchange gained 65 cents to end at $14.15 in trading 53,190 units, Kingston Wharves declined $2.75 to $31 with a transfer of 2,136 stock units, NCB Financial lost $2.99 to close at $71.50 while exchanging 82,898 stocks. Sagicor Group shed $2 in closing at $49, after 9,582 stock units switched owners, Scotia Group increased 97 cents to end at $34.99 as investors exchanged 194,297 shares, Seprod climbed $3.30 to end at $67 with investors transferring 6,342 stocks. Supreme Ventures lost 93 cents to end at $26.50 with an exchange of 16,835 units and Sygnus Real Estate Finance declined 85 cents to close at $9.30 with 10,185 stocks clearing the market.
JMMB Group 7% preference share dropped 60 cents to $1.93 after an exchange of 1,473 stock units and 138 Student Living preference share shed $3.08 after ending at $74 and trading 42 stock units and Transjamaican Highway 8% fell 41 cents in closing at $3.09 with an exchange of 25,095 shares.
A total of 8,067,288 shares were traded for $74,863,538 against 9,372,400 units at $39,505,39 on Monday.
The All Jamaican Composite Index dipped 831.45 points to conclude trading at 372,174.00, the JSE Main Index declined 1,387.56 points to 334,661.76 and the JSE Financial Index dipped 0.05 points to 76.88.
Guardian Holdingss hed $10 after ending at $485, with 4,682 units crossing the market, Kingston Wharves rallied $3.23 to close at $33.75, with 5,998 shares clearing the market, Margaritaville advanced $3.23 to $18.23 as 200 units passed through the market, Massy Holdings fell $4 after ending at $91, with 7,249 stocks changing hands, Mayberry Jamaican Equities popped 60 cents to $11.17 while exchanging 714 stock units,NCB Financial gained $2.99 to close at $74.49 after an exchange of 109,813 stocks, Pan Jamaica Group dipped 90 cents in closing at $53.90, with 5,758 stock units crossing the exchange, Portland JSX climbed 68 cents to close at $11.46 in trading 14 shares, Proven Investments lost $1.44 to end at $25.88 with the swapping of 2,001 units, Sagicor Group increased $1.10 after ending at $51 and an exchange of 29,820 units, Seprod lost $7.30 in closing at $63.70 as investors exchanged 12,566 shares, 
Supreme Ventures popped 63 cents to $27.43 with investors transferring 161,016 stock units and Sygnus Real Estate Finance shed $1.64 to end at $10.15 with an exchange of 1,013 stocks.
Trading ended with an exchange of 9,372,400 shares at $39,505,396 compared with 17,428,579 units at $38,758,141 on Friday.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.6 for the Main Market. The JSE Main and USD Market PE ratios are computed based on the last selling prices of stocks and earnings forecasted by ICInsider.com for companies with the financial year ending between November 2022 and August 2023.
Mayberry Jamaican Equities dipped 83 cents in closing at $10.57 with an exchange of 57,948 stock units, NCB Financial shed $2.87 after ending at $71.50 in an exchange of 117,341 shares, Portland JSX fell 70 cents to $10.78 after an exchange of 274 stocks, Proven Investments popped 82 cents to close at $27.32 with 9,778 units passing through the market, Seprod rose $8.85 in closing at $71 with 87,260 stocks crossing the exchange, Supreme Ventures climbed 76 cents to end at $26.80 while trading 37,646 stock units, Transjamaican Highway 8% climbed 49 cents in ending at a record high of $3.50 after trading 4,670 units.
In the preference segment, Jamaica Public Service 7% lost $8.61 to end at $31.70, with 837 shares crossing the market and Productive Business Solutions 9.75% preference share rallied $1 to $107 in switching ownership of 2 units.
Honey Bun’s return to the TOP10 Junior Market list this past week should enjoy increased investors’ interest with an expected jump in revenues and profits for the first quarter with the Easter coming at the beginning of April versus the 17th of April last year as well as improvement of gross profit margin that slipped last year.
The above average shows the extent of potential gains for the TOP 10 stocks.
A total of 17,428,579 shares were traded for $38,758,141 down from 20,050,275 units at $83,836,104 on Thursday.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.7 for the Main Market. The JSE Main and USD Market PE ratios are computed based on the last selling prices of stocks and earnings forecasted by ICInsider.com for companies with the financial year ending between November 2022 and August 2023.
Pan Jamaica Group shed $1.79 after ending at $55 while exchanging 242 stock units, Proven Investments popped 64 cents to end at $26.50 after 521 stocks changed hands, Sagicor Group advanced $2.93 to $49.94 with an exchange of 50,658 units, Scotia Group declined 75 cents to close at $34.25, with 288 stock units crossing the market and Supreme Ventures fell 46 cents to close at $26.04 with a transfer of 31,087 shares.
Jamaica Public Service 7% dropped $19.69 to $40.31, with 50 stocks crossing the exchange and JMMB Group 7% preference share rose 50 cents after ending at $2.53 with an exchange of 581 units.
A total of 20,050,275 shares were traded for $83,836,104 compared to 12,894,594 units at $48,653,770 on Wednesday.
The All Jamaican Composite Index lost 1,167.97 points to finish at 367,126.63, the JSE Main Index declined 1,446.13 points to conclude trading at 332,138.52 and the JSE Financial Index dipped 0.65 points to settle at 75.24.
Jamaica Producers rose $1.35 to $22 with 8,440 stocks crossing the market, Jamaica Stock Exchange gained 50 cents after ending at $14 after 208 stock units passed through the market, JMMB Group rose 81 cents to $30.31 after an exchange of 56,000 shares, Kingston Wharves advanced $3.30 in closing at $33.80 with the swapping of 23,660 units, Margaritaville rallied 49 cents to close at $18.49, with 105 stocks crossing the exchange, Massy Holdings rallied $1 to $100, with investors trading 4,289 units, Mayberry Jamaican Equities popped 49 cents to end at $11.49 in an exchange of 350 stocks, MPC Caribbean Clean Energy climbed $11.25 to $86.25 after a transfer of 115 stock units, NCB Financial dipped $4 in closing at $70 after investors exchanged 168,649 shares, Pan Jamaica Group increased $2.79 after ending at $56.79 and closed with 207 stock units changing hands, Proven Investments shed $1.47 to close at $25.86 in switching ownership of 29,014 units, Sagicor Group dropped 49 cents to end at $47.01 with a transfer of 18,707 stocks, Seprod declined $1.45 to close at $62.05 in an exchange of 4,492 shares and Supreme Ventures fell 40 cents in closing at $26.50 after an exchange of 16,770 stocks.
In the preference segment, Eppley 7.25% preference share lost $2.19 to close at a 52 weeks’ low of $16.56 with 490 units clearing the market and Jamaica Public Service 7% gained $10 in ending at $60, with 116 stock units changing hands and Transjamaican Highway 8% rose 25 cents to 52 weeks’ high of $2.67 after just 5 shares were traded.
A total of 12,894,594 shares were exchanged for $48,653,770 up from 5,006,796 units at $37,626,082 on Tuesday.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.3 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November 2022 and August 2023.
Kingston Properties gained 60 cents in closing at $7, with 36,697 units changing hands, Margaritaville shed 50 cents to end at $18 after closing with an exchange of 4,732 shares, Massy Holdings popped $8 after ending at $99, with 2,848 stocks crossing the market, Mayberry Jamaican Equities lost 60 cents in closing at $11 in switching ownership of 16,091 stock units, MPC Caribbean Clean Energy rose $4 to close at $75 with investors transferring 1,699 shares, NCB Financial climbed $2.99 to $74, with 28,178 stocks crossing the market, Pan Jamaica Group fell $1.94 to $54 after an exchange of 11,508 units, Proven Investments increased $1.38 to close at $27.33 as 7,570 shares passed through the market, Sagicor Group declined 50 cents after ending at $47.50 with a transfer of 85,383 stock units, Salada Foods dropped 43 cents in closing at $3.56, with 9,951 stocks crossing the exchange and Sygnus Real Estate Finance gained 66 cents to end at $11.82 with 2,923 units clearing the market.
In the preference segment, Productive Business Solutions 10.50% preference share dropped $50 to $1200 as investors exchanged 82 shares, Eppley 7.75% preference share fell $2.96 to close at $16.94 with an exchange of 2,500 units and Jamaica Public Service 7% shed $11.53 in ending at $50, with 170 stock units crossed the market.
