Prices plunged on the Jamaica Stock Exchange Main Market Tuesday after 56 securities traded compared to 58 on Friday, leading to a mere five rising, 46 declining and five ending unchanged market activity ended, with the volume of stocks traded surging 264 percent and the value climbing 155 percent more than on Friday as investors sold stocks to raise funds to purchase shares in the latest IPO – Dolla Financial, hitting the market later this week.
At the close, five stocks, including PanJam Investment, ended at a 52 weeks’ low. The All Jamaican Composite Index plunged 7,520.59 points to settle at 442,250.18, the JSE Main Index dived 6,564.71 points to 385,333.83 and the JSE Financial Index slipped 1.13 points to 92.59.
The PE Ratio, a formula for computing appropriate stock values, averages 14.1. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to August 2023.
A total of 24,048,471 shares were exchanged for $165,423,987 up from 6,597,987 units at $64,884,016 on Friday. Trading averages 429,437 units at $2,954,000, versus 113,758 shares at $1,118,690 on Friday and month to date, an average of 242,561 units at $4,088,390, compared to 229,769 units at $4,160,020 on the previous trading day. April closed with an average of 532,209 units at $5,709,319.
Wigton Windfarm led trading with 6.0 million shares for 24.9 percent of total volume, followed by Transjamaican Highway with 3.97 million units for 16.5 percent of the day’s trade, QWI Investments chipped in with 2.71 million units for 11.3 percent market share, Sagicor Select Financial Fund ended with 2.48 million units for 10.3 percent of the day’s trade and 1834 Investments, 1.16 million units for 4.8 percent of trading.
Investor’s Choice bid-offer indicator shows 11 stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Berger Paints dropped $2.21 to close at a 52 weeks’ low of $10.01 after an exchange of 16,122 shares, Caribbean Cement shed $1.49 to end at $60.51, with 126,043 units crossing the market, Caribbean Producers lost 55 cents in closing at $14.30, with 626,248 stocks changing hands. Carreras popped 60 cents to $9.90, trading 149,627 stock units, Eppley fell $6.50 to close at $43 after 5,479 stocks passed through the exchange, Eppley Caribbean Property Fund declined $7.27 to close at $40 in exchanging 12,460 units. First Rock Capital declined 64 cents to $11.52 after an exchange of 32,461 stock units, GraceKennedy dropped $2.67 in ending at $107.32, while exchanging 151,958 shares, Guardian Holdings fell $19 to end at $511 in switching ownership of 3,283 stocks. Jamaica Broilers increased $1.20 in closing at $28.30 in an exchange of 76,347 stock units, Jamaica Stock Exchange shed 95 cents to close at $19.05 after 14,387 units crossed the market, JMMB Group lost $2.25 in ending at $43 after exchanging 452,538 shares. Key Insurance declined 68 cents to close at a 52 weeks’ low of $3.60, trading 128,492 stocks, Kingston Wharves shed $2.09 to $36.11 with the swapping of 9,310 stock units, Mayberry Jamaican Equities lost $1 in closing at $13 with an exchange of 793,609 units. 138 Student Living fell 82 cents in closing at $4.35, with 98,926 shares clearing the market, Palace Amusement dropped $90 to $950, trading 51 stocks, PanJam Investment lost $13.50 to close at a 52 weeks’ low of $53 in trading 22,176 units. Proven Investments shed $2.50 to end at $36 after exchanging 42,595 shares, Pulse Investments dropped 40 cents to $3.59 with an exchange of 170,274 stock units, Sagicor Group advanced $1.40 to $56, with 211,959 stock units crossing the market. 
Scotia Group fell 60 cents in closing at $35.20 with an exchange of 87,916 stocks, Seprod declined 49 cents to end at $71.50 after exchanging 22,654 shares, Stanley Motta dropped 40 cents to close at $5.10, with 3,885 units clearing the market. Supreme Ventures fell $2.05, ending at $27.95 while exchanging 525,207 units, Sygnus Credit Investments shed 70 cents to close at $15.50 in exchanging 308,530 stock units, Sygnus Real Estate Finance lost $1 to end at a 52 weeks’ low of $14 after trading 4,006 stocks. Victoria Mutual Investments declined 36 cents in closing at a 52 weeks’ low of $5.21 in switching ownership of 449,801 shares and Wisynco Group fell $1.48 to $20, with 247,442 stocks crossing the market.
In the preference segment, JMMB Group 7.25% preference share lost 40 cents after ending at $2.85, trading 145 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Dolla Financial joins ICTOP10
The next stock slated to list on the Junior Market of the Jamaica Stock Exchange, Dolla Financial Services, joins ICTOP110 at the number one spot, with 2022 earnings projected at 20 cents per share and potential gains for the stock of 300 percent. The issue opens on Friday, 27 and 500 million shares being offered should be fully taken up by the public.
The other stock to climb into the ICTOP10 this week is Lasco Distributors, back in at the number 10 spot.
The markets pulled back this week, resulting in mixed performances for ICTOP10 stocks. In the Junior Market, following the release of March quarter results, Jetcon Corporation jumped 16 percent for the week to lead the Junior Market performances, Medical Disposables posted a 10 percent rise to $8, Access Financial gained 8 percent, while Caribbean Assurance Brokers lost13 percent in closing at $2.25 to be the only significant loser. TOP10 Main Market stocks had no meaningful gains. At the same time, Productive Business Solutions fell 17 percent to 98 US cents, VM Investments lost 9 percent and Radio Jamaica fell 5 percent, followed by JMMB Group with a 4 percent decline.
There were no movements in and out of the ICInsider.com TOP10 Main Market listing this week, but the Junior Market has two, with Dolphin Cove and Jetcon Corporation dropping out.
Investors should be on the lookout for companies with March year end that have not yet reported earnings. Amongst the grouping is the three Lasco companies that could get price moving punch from the results. Watch also Access and Medical Disposables, with the latter sitting close to the TOP of the list.
The average PE for the JSE Main Market TOP 10 ends the week at 6.2, well below the market average of 15, while the Junior Market PE for the Top 10 sits at 6.1 versus the market at 13.5. The Junior Market TOP10 is projected to gain an average of 226 percent by May 2023 and the Main Market 215 percent.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market.
ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2023. They are ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios 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.
Main market falters in Friday’s trades
Market activity ended on the Jamaica Stock Exchange Main Market on Friday, with the volume of stocks traded declining 33 percent and the value nosediving 48 percent from Thursday’s activity as rising stocks exceeded those declining by a moderate margin.
The All Jamaican Composite Index lost 1,581.75 points to settle at 449,770.77, the JSE Main Index slipped by 707.68 points to 391,898.55 and the JSE Financial Index lost 0.43 points to settle at 93.72. Trading ended with 58 securities compared to 51 on Thursday, with 25 rising, 22 declining and 11 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 15. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to the close of August 2023.
A total of 6,597,987 shares were exchanged for $64,884,016 versus 9,880,109 units at $124,533,581 on Thursday. Trading averages 113,758 units at $1,118,690, compared to 193,728 shares at $2,441,835 on Thursday and month to date, an average of 229,769 units at $4,160,020 compared to 238,407 units at $4,385,460 on the previous trading day. April closed with an average of 532,209 units at $5,709,319.
Wigton Windfarm led trading with 1.89 million shares for 28.6 percent of total volume, followed by QWI Investments with 1.07 million units for 16.2 percent of the day’s trade and Pulse Investments with 885,391 units for 13.4 percent market share.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Caribbean Cement dropped $1 to $62 trading 23,340 shares, Carreras declined 64 cents to close at $9.30 after 129,765 units were traded, Eppley lost 85 cents in ending at $49.50 after exchanging 581 stocks. Eppley Caribbean Property Fund popped $4.27 in closing at $47.27 after an exchange of 25 stock units, GraceKennedy fell 81 cents to end at $109.99, with 14,815 units crossing the market, Guardian Holdings gained $6 to end at $530 after exchanging 56 shares. Jamaica Broilers shed $1.40 in closing at $27.10 after 3,829 stock units cleared the market, Jamaica Stock Exchange dropped 53 cents to close at $20 in trading 8,351 stocks, Key Insurance rose 30 cents to close at $4.28 with the swapping of 3,096 stocks. Margaritaville climbed $2 to $23 in switching ownership of 25 units, Mayberry Investments shed 74 cents to close at $10.26 while exchanging 9,664 shares,Mayberry Jamaican Equities fell $1 in ending at $14, with 68,279 stock units crossing the market. MPC Caribbean Clean Energy advanced $1.70 to $110.70 trading five units, NCB Financial lost 85 cents to end at $109.15, with 22,849 shares crossing the exchange, Palace Amusement increased $85 in closing at $1040 with an exchange of one stock unit. 
PanJam Investment rallied $4 to close at $66.50 in exchanging 5,567 stocks, Portland JSX declined $2 in closing at $8.60, with 20,000 stock units changing hands, Scotia Group declined $1.14 in ending at $35.80, with 701,451 stocks crossing the exchange. Seprod gained 49 cents to close at $71.99 in switching ownership of 25,036 shares, Supreme Ventures advanced $1 to end at $30 with an exchange of 43,555 units, Sygnus Credit Investments fell 32 cents in closing at $16.20, with 110,180 shares crossing the market and Wisynco Group rallied $1.48 to $21.48 in an exchange of 95,131 stocks.
In the preference segment, Eppley 7.50% preference share increased 33 cents to close at $8.40, with 101 stock units clearing the market and Jamaica Public Service 9.5% dropped $100 in ending at $3000, with 108 units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Bounce for JSE main market
Market activity ended on the Jamaica Stock Exchange Main Market on Thursday, with the volume of stocks traded declining 19 percent and the value diving 63 percent lower than on Wednesday, leading to declining stocks outstripping rising ones.
The All Jamaican Composite Index rose 1,595.11 points to 451,352.52, the JSE Main Index popped 1,037.82 points to 392,606.23 and the JSE Financial Index inched 0.72 points higher to 94.15.
Trading ended with 51 securities compared to 53 on Wednesday, with 20 rising, 25 declining and six ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 14.9. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to the close of August 2023.
Overall, 9,880,109 shares were traded for $124,533,581 versus 12,251,051 units at $339,534,037 on Wednesday. Trading averages 193,728 units at $2,441,835, compared to 231,152 shares at $6,406,303 on Wednesday and month to date, an average of 238,407 units at $4,386,460, compared to 241,537 units at $4,522,691 on the previous trading day. April closed with an average of 532,209 units at $5,709,319.
QWI Investments led trading with 1.65 million shares for 16.7 percent of total volume, followed by Wigton Windfarm, with 993,729 units for 10.1 percent of the day’s trade and Sagicor Select Financial Fund with 957,413 units for 9.7 percent market share.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Barita Investments advanced 70 cents in ending at $90, trading 305,102 shares, Caribbean Cement popped $1.50 in closing at $63 while exchanging 29,073 stock units, Eppley Caribbean Property Fund declined $7 to $43 after 648 stocks changed hands. GraceKennedy climbed $3.27 to end at $110.80 after 165,524 units were exchanged, Guardian Holdings rallied $9 to $524 in an exchange of one stock unit, JMMB Group lost 53 cents in closing at $45.50, with 205,307 shares crossing the market. Kingston Wharves shed 79 cents to end at $38.20 after finishing trading 1,140 stocks, Massy Holdings dropped $2.50 to close at $90 after exchanging 110,208 units, MPC Caribbean Clean Energy gained $13.99 to $109 with the swapping of 66 stocks. PanJam Investment rose 50 cents to $62.50 after exchanging 42,524 stock units, Proven Investments gained 50 cents in ending at $38.50, with 114,273 units crossing the market, Sagicor Group fell 50 cents to $54.50 while trading 8,291 shares. 
Salada Foods gained 44 cents in closing at $6 with an exchange of 70 shares, Scotia Group increased $1.69 to end at $36.94 in switching ownership of 116,990 stock units, Seprod declined 48 cents to $71.50 in exchanging 7,509 stocks. Stanley Motta rallied 46 cents to end at $5.50, with 22,900 units crossing the exchange, Supreme Ventures dropped $1 to $29, with 129,116 units changing hands, Sygnus Credit Investments lost 37 cents to close at $16.52 while exchanging 20,767 stocks and Wisynco Group shed $2.50 in ending at $20 and trading 374,190 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Sellers pressure JSE Main Market stocks
Stocks mostly dropped in prices at the end of trading on the Jamaica Stock Exchange Main Market on Wednesday, with the volume of stocks traded declining 26 percent from that on Tuesday, with a slightly higher value.
The All Jamaican Composite Index sank 5,169.29 points to 449,757.41, the JSE Main Index dropped 4,912.09 points to close at 391,568.41 and the JSE Financial Index dipped 0.48 points to settle at 93.43. Trading ended with 53 securities down from 57 on Tuesday, with ten rising, 30 declining and 13 ending unchanged.
Overall, 12,251,051 shares were exchanged for $339,534,037 versus 16,623,237 units at $309,172,008 on Tuesday.
Trading averages 231,152 units at $6,406,303, compared to 291,636 shares at $5,424,070 on Tuesday and month to date, an average of 241,868 units at $4,528,727, compared to 242,352 units at $4,374,792 on the previous trading day. The trade for April averaged 532,209 units at $5,709,319.
Eppley Caribbean Property Fund led trading with 2.46 million shares for 20.1 percent of total volume, followed by Wigton Windfarm with 1.78 million units for 14.5 percent of the day’s trade. Transjamaican Highway ended with 1.77 million units for 14.4 percent market share and Massy Holdings with 1.01 million units for 8.2 percent of traded shares.
The PE Ratio, a formula for computing appropriate stock values, averages 15.2. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to the close of August 2023.
Investor’s Choice bid-offer indicator shows 12 stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Barita Investments fell 60 cents to $89.30 with the swapping of 4,861 shares, Caribbean Cement dropped $3.30 to close at $61.50, trading 89,747 stocks, Caribbean Producers shed 34 cents in closing at $15.10, with 268,718 stock units crossing the exchange. Eppley increased $2.39 to $50.39, with 55 units changing hands, Eppley Caribbean Property Fund rallied $9.47 to end at $50 after trading 2,459,396 stocks, GraceKennedy lost $1.47 to $107.53 after an exchange of 246,477 units. Jamaica Producers declined $1.48 to close at $21.62 in an exchange of 38,080 shares, Kingston Properties shed 30 cents to end at $8 with an exchange of 107,215 stock units, Massy Holdings dropped $1.50 in closing at $92.50 while exchanging 1,005,358 stocks. Mayberry Jamaican Equities fell 52 cents to end at $15 in switching ownership of 42,288 units, MPC Caribbean Clean Energy lost $13.99 to end at $95.01 in trading 35 stock units, NCB Financial advanced $1.04 to $110.15, exchanging 70,666 shares. 
PanJam Investment declined $4 after ending at $62, with 67,228 stocks crossing the market, Stanley Motta shed 46 cents in closing at $5.04 after exchanging 195 units and Supreme Ventures dropped $1.50 to close at $30 after finishing trading of 428,090 stock units.
In the preference segment, Eppley 7.50% preference share climbed $1.05 to end at $8.07 after trading 122,233 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Many more stocks rose than fell Tuesday
More than 56 percent of stocks trading on Tuesday rose, beating out those declining by a wide margin, but did not prevent the market indices from slipping at the close of the Jamaica Stock Exchange, with the volume of stocks traded rising 19 percent and the value up 37 percent over Monday.
Trading ended with 57 securities compared to 56 on Monday, with 32 rising, 20 declining and five ending unchanged.
The All Jamaican Composite Index dropped 1,610.72 points to 454,926.70, the JSE Main Index 1,340.20 points to close at 396,480.50 and the JSE Financial Index fell 0.81 points to 93.91.
The PE Ratio, a formula for computing appropriate stock values, averages 15. The JSE Main and USD Market PE ratios are computed using earnings forecasted by ICInsider.com’s for companies with financial years ending up to August 2023.
Overall, 16,623,237 shares were exchanged for $309,172,008 versus 13,950,999 units at $225,110,985 on Monday. Trading averages 291,636 units at $5,424,070, compared to 249,125 shares at $4,019,839 on Monday and month to date, an average of 242,711 units at $4,381,084, compared to 238,191 units at $4,284,731 on the previous trading day. April closed with an average of 532,209 units at $5,709,319.
Sagicor Select Financial Fund led trading with 3.38 million shares for 20.3 percent of total volume, followed by JMMB Group with 2.86 million units for 17.2 percent of the day’s trade, Transjamaican Highway traded 1.58 million units for 9.5 percent of market share. Sagicor Group chipped in with 1.32 million units for 7.9 percent market, Wigton Windfarm with 1.24 million units for 7.5 percent share and Carreras with 1.09 million units for 6.5 percent of the day’s trade.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and four stocks with lower offers.
At the close, Barita Investments rose 86 cents to $89.90 after exchanging 22,699 shares, Caribbean Cement fell $2.20 to close at $64.80 after trading 102,605 stocks, Caribbean Producers shed $1.53 to $15.44, with an exchange of 332,609 stock units. Eppley advanced $2.10 to end at $48, trading 1,874 units, GraceKennedy popped 50 cents in closing at $109, with 128,518 shares changing hands, Guardian Holdings gained $2.50 to close at $515 with the swapping of 19,135 units. Jamaica Broilers climbed 60 cents to $28.40 in trading 14,231 stocks, Jamaica Producers gained 50 cents to $23.10 after exchanging 34,059 stock units, Jamaica Stock Exchange declined $1.30 to $20.70, with 131,470 stock units crossing the market. JMMB Group dropped $2 to end at $46 in an exchange of 2,858,891 shares, Kingston Properties lost 38 cents at $8.30 in switching ownership of 16,369 units, Kingston Wharves declined 40 cents in closing at $39.05, with 1,152 stocks clearing the market. Massy Holdings fell $2.50 to $94 with an exchange of 3,851 shares, Mayberry Investments shed $1.30 to close at $11.50, with 590,935 stocks changing hands, MPC Caribbean Clean Energy rallied $13.99 to end at $109 while exchanging 34 stock units. NCB Financial lost $2.15 in closing at $109.11 after 27,271 units crossed the market, Palace Amusement dropped $164.02 to $955 in exchanging 764 units, PanJam Investment fell 50 cents to $66 after an exchange of 24,981 stock units. Sagicor Group shed 70 cents to end at $55 in switching ownership of 1,316,087 stocks, Seprod increased 51 cents to $72 while exchanging 8,283 shares and Supreme Ventures rallied $2.20 in closing at $31.50 after trading 156,869 shares.
Sygnus Real Estate Finance lost $1.70 to $15.10 after 5,150 units changed hands and Wisynco Group declined 45 cents to $22.50 in trading 654,361 stocks.
In the preference segment, Eppley 7.50% preference share popped 82 cents to end at $7.02 with the swapping of 44 stock units, Jamaica Public Service 9.5% advanced $500 to close at $3100 in trading 50 shares and Productive Business Solutions 9.75% preference share gained $5.99 to $114.24 in an exchange of 6 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE stocks retreat on Monday
Stocks ended trading on Monday, with prices softening as the volume exchanged climbed 45 percent and the value rose 150 percent over Friday’s trade on the Jamaica Stock Exchange main market as the market indices plunged at the close after Mayberry Investment traded at a record high of $14.15 and Proven Investment posted at 52 weeks’ high of $39.
The All Jamaican Composite Index lost 5,145.63 points to close at 456,537.42, the JSE Main Index and the JSE Financial Index dipped 0.68 points to settle at 94.72.
A total of 56 securities traded up from 54 on Friday, with 23 rising, 29 declining and four ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 15. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to August 2023.
Overall, 13,950,999 shares were exchanged for $225,110,985 versus 9,627,205 units at $89,895,589 on Friday. Trading averages 249,125 units at $4,019,839, compared to 178,282 shares at $1,664,733 on Friday and month to date, an average of 237,807 units at $4,278,04, compared to 236,679 units at $4,303,740 on the previous trading day. April closed with an average of 532,209 units at $5,709,319.
JMMB Group led trading with 1.82 million shares for 13 percent of total volume, followed by Transjamaican Highway with 1.60 million units for 11.5 percent of the day’s trade, Sagicor Select Financial Fund ended with 1.29 million units for 9.3 percent of market share, after the price hit a 52 weeks’ intraday low of 40 cents. Wigton Windfarm traded 1.16 million units for 8.3 percent market share and Sterling Investments, 1.06 million units for 7.6 percent market share.
Investor’s Choice bid-offer indicator shows12 stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Barita Investments shed 86 cents to close at $89.04 in trading 26,551 shares, Caribbean Cement rose $6 to $67 after exchanging 222,528 stock units, Caribbean Producers lost 73 cents in closing at $16.97 after exchanging 191,544 units. Eppley Caribbean Property Fund dropped $6.98 to $40.52, with 650 stocks clearing the market, First Rock Capital fell 90 cents to $12.30, with 13,407 stock units crossing the market, GraceKennedy gained $1 to end at $108.50 with the swapping of 88,096 stocks. Guardian Holdings dropped $17.50 to $512.50, with400 units crossing the market, Jamaica Broilers lost 90 cents to close at $27.80 after trading 16,947 shares, Jamaica Producers declined 50 cents in closing at $22.60, with 13,939 stocks changing hands. Jamaica Stock Exchange dropped $1.98 in ending at $22 in an exchange of 21,406 units, JMMB Group advanced $1 to close at $48 with 1,815,612 shares changing hands, Margaritaville fell $2.50 to $21 while exchanging 1,000 stock units. Massy Holdings climbed 50 cents in closing at $96.50 in swapping ownership of 49,892 units, Mayberry Investments popped $1.78 to end at a 52 weeks’ closing high of $12.80 in switching ownership of 806,030 stock units, Mayberry Jamaican Equities gained 52 cents in ending at $15.51 after trading 34,368 shares. MPC Caribbean Clean Energy shed $12.25 to end at $95.01 after two shares crossed the exchange, NCB Financial declined $3.74 to $111.26 in trading 18,616 shares, PanJam Investment rallied 49 cents to end at $66.50 after exchanging 10,934 units. 
Portland JSX gained $2.05 to $10.70, with 44 stocks crossing the market, Sagicor Group shed $2.29 to close at $55.70 while exchanging 345,058 stock units, Salada Foods dipped 34 cents in closing at $5.65, with 36,336 units clearing the market. Seprod lost 36 cents to end at $71.49 with an exchange of 284,297 stocks, Supreme Ventures fell $2.65 in ending at $29.30 after exchanging 731,793 stock units, Victoria Mutual Investments fell 34 cents to close at $5.75, trading 486,693 shares and Wisynco Group advanced 82 cents to $22.95 with an exchange of 188,824 shares.
In the preference segment, Eppley 7.25% preference share shed $2.49 in ending at $20.01 after exchanging 200 units, Eppley 7.50% preference share dropped $1.22 to end at $6.20, with 4,102 stock units changing hands and Eppley 7.75% preference share lost 39 cents in closing at $20 trading 5,619 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
72% gains for ICTOP10 winner
Stationery and Office Supplies (SOS) is up 72 percent in 2022 and is heading to more than $20 with projected earnings of $1.25 for the year. SOS made the ICTOP15 list in January at 12 spot to produce a 200 percent gain for the year. It came into TOP10 in the week ending January 21, in the 6th spot and exited the TOP10 on the week ending April 22.
Stationery & Office Supplies – Montego Bay office.
Over the past two weeks, company results have been coming out fast and furious, with many posting solid increased profits over the first quarter of 2021, as the economy continues to recover and cost savings also takes hold to help lift profits to record levels in many cases.
One company to benefit from improved results for the first quarter results to March is SOS, with revenues rising 37 percent to $427 million and profits surging 344 percent to $81 million before gains from the sale of a property, investors belated warmed to the stock pushing it to a 52 week’s high of $11.02 and out of ICTOP10. Based on the results, ICInsider.com upgraded earnings from $1.10 to $1.25. Investors in the stock can look for a possible stock split this year if the price rises.
It is well worth noting that the Junior Market peaked at 4,669.78 points at the market opening on May 10 and pulled back to 4,444.25 on Friday as new quarterly results tempered investors in some overvalued stocks that have started to adjust downwards as reality sets in. Among them is Fesco, which was selling at a PE of 50 times the current year’s earnings. There seem to be more painful adjustments to come for investors in this stock. MailPac also suffered a reversal in price after the first quarter results disappointed investors, with lower revenues and earnings.
It is not unusual for investors to take a break after mid-May each year, with most results released and return in late June or early July just ahead of the new earnings season for the half year. Against this background, trading could move sideways for a month or two, but the Lasco companies, Access and Medical Disposables could light up the market when they release results in a few weeks.
Berger Paints annual report had good news for investors to digest.
In the Main Market, Jamaica Stock Exchange was added to the ICTOP10 recently but slipped out last week and reported solid results for the March quarter, with profit jumping 84 percent after revenues rose 37 percent. The projected earnings were downgraded to $1.30 from $3, leaving the stock just about appropriately valued. Berger Paints came out with solid earnings, resulting in our projection being upgraded from $1.70 to $2.35, helped by a sharp cut in other operating expenses from $160 million in 2021 to $117 million and now heads the Main Market TOP10 list.
Elite Diagnostic gained 3 percent for the week at $4, but the promise that the company showed when it was listed has started to show again, with revenues in the third quarter rising 24 percent to $161 million and profit surging to $28 million from $4.4 million in 2021. Based on the results, earnings for the current year ending in June are projected at 24 cents and 55 cents for the 2022/23 fiscal year.
Former ICTOP10 listing, Tropical Battery earnings were downgraded to 18 cents per share for this year, following the release of March half year results.
Access Financial jumped 22 percent last week, and is down 16 percent this past week at $21.50, and attracted more buying interest as the release of year results approaches. tTech tumbled 8 percent during the week and AMG Packaging 7 percent. Caribbean Assurance Brokers was the only stock with any meaningful gain, with a rise of 6 percent.
This week, there was no change to ICInsider.com TOP10 Main Market listings, but the Junior Market has two, with Lasco Distributors just slipping out. Jetcon Corporation suffered a big price decline during the week to close at $1.35 to reenter the list. tTech earnings were revised down to 25 cents after the company posted flat sales in the first quarter and a small loss and fell out of the top listing to be replaced by Dolphin Cove is poised to grow much more this year as improving tourism traffic that April numbers show is virtually back to normal provide a big boost to future earnings.
Investors should be on the lookout for companies with March year end that have not yet reported earnings. Amongst the grouping are the three Lasco companies that could get price moving punch from the results. Watch also Access and Medical Disposables sitting on the TOP of the list, with the company said to be generating profit from the acquisition of Cornwall Enterprises, well ahead of the two year target. ICInsider.com earnings projections of 70 cents per share for the 2022 fiscal year assume that earnings would include profit from the subsidiary and should result in a big jump in the stock toward $14.
The primary mover in the main market was Caribbean Cement that fell 12 percent to $61 as buying interest in the stock remains low, even as the first quarter results suggest the stock is highly undervalued, no other stock had any serious change.
The average PE for the JSE Main Market TOP 10 ends the week at 6.2, well below the market average of 15.3, while the Junior Market PE for the Top 10 sits at 6.3 versus the market at 13.9. The Junior Market TOP10 is projected to gain an average of 226 percent by May 2023 and the Main Market 215 percent.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2023 and are ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios 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.
JSE Main Market rises
Market activity ended on Friday, with the volume of stocks traded declining 53 percent and the value dropping 82 percent lower than on Thursday on the Jamaica Stock Exchange Main Market as rising stocks exceeded those falling.
The All Jamaican Composite Index rallied 2,855.20 points to close at 461,683.05, the JSE Main Index rose 2,101.59 points to 402,589.33 and the JSE Financial Index popped 0.90 points to settle at 95.40.
Trading ended with 54 securities down from 57 on Thursday, with 24 rising, 21 declining and nine ending unchanged. Caribbean Cement closed trading at a 52 weeks’ low of $60 and Key Insurance traded at an intraday 52 weeks’ low of $3.81, while Mayberry Investments closed at a 52 weeks’ high of $11.02.
The PE Ratio, a formula for computing appropriate stock values, averages 15.4. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to the close of August 2023.
Overall, 9,627,205 shares were exchanged for $89,895,589 down from 20,316,947 units at $488,632,009 on Thursday. Trading averages 178,282 units at $1,664,733, compared to 356,438 shares at $8,572,491 on Thursday and month to date, an average of 228,535 units at $4,080,209, compared to 242,886 units at $4,584,264 on the previous trading day. April closed with an average of 532,209 units at $5,709,319.
Transjamaican Highway led trading with 3.52 million shares for 36.5 percent of total volume, followed by Wigton Windfarm with 1.37 million units for 14.3 percent of the day’s trade and Mayberry Investments with 679,319 units for 7.1 percent market share.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and six with lower offers.
At the close, Barita Investments popped 55 cents to close at $89.90 with an exchange of 4,192 shares, Berger Paints advanced $1.09, in closing at $12.29 in an exchange of 6,706 stocks, Caribbean Cement lost $2.99 to end at $61, with 153,079 units crossing the exchange. Eppley Caribbean Property Fund gained $5.20 in ending at $47.50, with 15 stock units changing hands, First Rock Capital rose 80 cents to $13.20 after trading 21,749 stocks, GraceKennedy dropped $3 to $107.50 with 182,889 stock units changing hands. Guardian Holdings climbed $15 in ending at $530, with 1,095 shares crossing the market, JMMB Group rose $1 to close at $47 after 139,940 units changed hands, Massy Holdings fell $1 in closing at $96 while exchanging 17,368 shares. Mayberry Investments rallied $2.22 to end at $11.02 in trading 679,319 stocks, Mayberry Jamaican Equities shed 53 cents to end at $14.99, with 10,394 units clearing the market, 138 Student Living popped 60 cents to $5 after exchanging one stock unit. Palace Amusement advanced $169.02 to $1119.02 in trading five stocks, PanJam Investment declined 99 cents to $66.01 in trading 7,276 shares, Proven Investments increased $1.28 to close at $37.78 with the swapping of 22,311 stock units.
Sagicor Group gained $2.99 to end at $57.99 in switching ownership of 118,389 units, Salada Foods climbed 33 cents in ending at $5.99 after exchanging 3,457 shares, Scotia Group declined $1.73 to close at $35.11 after 54,533 stocks changed hands. Seprod lost 64 cents to close at $71.85, trading 2,767 units, Stanley Motta rose 37 cents to $5.40, with 2,000 stock units changing hands, Supreme Ventures rallied 95 cents to $31.95 in trading 64,951 stocks and Wisynco Group fell $1.27 to close at $22.13, with 374,662 units crossing the market.
In the preference segment, Eppley 7.50% preference share climbed 80 cents to $7.42 in an exchange of 450 stock units and JMMB Group 7.25% preference share dropped 60 cents to $2.85 while exchanging 7,071 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE Main Market drops
Market activity ended on Thursday, with the volume of stocks traded rising 54 percent and the value 455 percent more than on Wednesday at the close of the Jamaica Stock Exchange Main Market as rising stocks were edged out by those declining.
The All Jamaican Composite Index lost 2,109.81 points to settle at 458,827.85, the JSE Main Index declined 1,867.86 points to close at 400,487.74 and the JSE Financial Index remained unchanged at 94.50.
Trading ended with 57 securities compared to 55 on Wednesday, with 21 rising, 24 declining and 12 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 14.5. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to August 2023.
Overall, 20,316,947 shares were exchanged for $488,632,009 versus 13,212,264 units at $88,081,914 on Wednesday. Transjamaican Highway led trading with 5.40 million shares for 26.6 percent of total volume, followed by Wigton Windfarm with 2.90 million units for 14.3 percent of the day’s trade, Productive Business Solutions 9.75% preference share chipped in with 2.88 million units for 14.2 percent market share, Sagicor Select Financial Fund with 1.84 million units for 9.1 percent market share and QWI Investments with 1.38 million units for 6.8 percent market share.
Trading averages 356,438 units at $8,572,491, compared to 240,223 shares at $1,601,489 on Wednesday and month to date, an average of 242,886 units at $4,584,264, compared to 228,534 units at $4,080,209 on the previous trading day. April closed with an average of 532,209 units at $5,709,319.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Barita Investments shed 55 cents to end at $89.35 in exchanging 5,007 shares, Berger Paints lost $1.05 in closing at $11.20, with 2,789 stocks crossing the exchange, Caribbean Cement declined $1.01 to $63.99, with 10,812 units clearing the market. Caribbean Producers fell 67 cents to end at $17.83 with an exchange of 913,139 stock units, Eppley advanced $1 to $46 while exchanging 454 units, Eppley Caribbean Property Fund increased 30 cents to end at $42.30 in switching ownership of 1,789 stock units. GraceKennedy lost $1.99 to $110.50 in trading 126,197 shares, Jamaica Broilers climbed $1.48 to close at $28.50, with 58,631 stocks changing hands, JMMB Group dropped 50 cents in closing at $46 after exchanging 214,420 units. Key Insurance fell 65 cents to $4.05 and closed with an exchange of 460,091 shares, Massy Holdings slipped 50 cents to $97, with 28,231 stock units crossing the market, MPC Caribbean Clean Energy rallied $15.26 in ending at $107.26 after trading 46 stocks. NCB Financial popped $3 in closing at $115 in an exchange of 129,265 units, 138 Student Living shed 85 cents to end at $4.40, with 898,887 stocks crossing the market, Palace Amusement declined $169.02 to close at $950 in exchanging 11 shares. PanJam Investment gained $1 to $67 with the swapping of 831,574 stock units, Sagicor Group declined $1.50 to end at $55 after trading 22,168 stocks, Salada Foods shed 38 cents in ending at $5.66 while exchanging 5,525 shares. 
Scotia Group rose 75 cents to $36.84 after exchanging 146,609 units, Supreme Ventures advanced 99 cents to close at $31 with an exchange of 290,748 stock units, Sygnus Credit Investments fell 50 cents to $16.50, with 123,725 shares crossing the market and Sygnus Real Estate Finance popped $1.64 to $16.80 after exchanging 5,200 units.
In the preference segment, Productive Business Solutions 9.75% preference share rallied $1.25 to $108.25, closing after 2,877,023 stocks changed hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
