Scotia Group — Page 98

Fesco jumps ICTOP10 with 33% gains

April 24, 2021 by IC Insider.com

Future Energy Source commenced trading on the Junior Market on Friday and closed with a 33 percent gain from the 80 cents public offer price offer to close at $1.06. Its performance saw it slipping from the ICTOP10 list but with room for more growth based on expected 2021/2 earnings.
Future Energy Source was replaced by Main Event, with the latter falling from $4.74 last week to $4.05 this week. The Main Market TOP 10 saw no change to companies on the list. The bullish tone of the Junior Market was joined by the Main Market this past week, with the latter now breaking out of a narrow channel it was trading in for some time, as this publication suggested would happen soon.
The markets made more gains in the past week, with the Main Market recording its ninth day of unbroken gains on Friday, but technical signals suggest a continuation of the rally.
Watch these stocks over the next few weeks, Barita Investments, Caribbean Cement, Grace Kennedy, Jamaica Producers, NCB Financial, PanJam Investment and Sagior Group.
The top three stocks in the Junior Market are headed by Elite Diagnostic, followed by Medical Disposables and Jetcon Corporation, with the potential to gain between 285 to 300 percent. The top three Main Market stocks are Radio Jamaica in the number one spot, followed by PanJam Investment and VM Investments, with expected gains of 174 to 388 percent.
Added to the technical indicators is a limited supply of shares for some companies. One such is Caribbean Cream that currently has few offers on the board. The same goes for Elite Diagnostic, Stationery and Office Supplies, Lasco Financial, Main Event, ISP Financial, Cargo Handlers. In the Main Market, its Berger Paints, Jamaica Producers and Radio Jamaica.
The targeted PE ratio for the market averages 20 based on profits of companies reporting full year’s results, up to the second quarter of 2022. Fiscal 2020-21 ended March 2021 with the average PE at 17 for Junior Stocks and 19 times for the Main Market. With interest rates on government paper below 5 percent and likely to remain there for a few years, the likelihood is for the average PE ratios to climb higher during the next twelve months.
The Junior Market, with an average PE 12.9 based on ICInsider.com’s 2021-22 earnings, is currently trading well below the target, as well as the recent historical average of 17; this represents another 32 percent rise in the market that would equate to a rise of 50 percent to March 2022. The Junior Market Top 10 stocks average a mere 5.8 at just 45 percent of the market average, indicating substantial gains ahead. The JSE Main Market ended the week with an overall PE of 16, some distance from the 19 the market ended March at, suggesting a 19 percent rise from now to March 2022. The Main Market TOP 10 trades at a PE of 7.5 or 47 percent of the PE of that market and well off the potential of 20.
The average projected gain for the Junior Market IC TOP 10 stocks is 247 percent and 178 percent for the JSE Main Market, based on 2021-22 earnings. IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on likely increase for each company, taking into account the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in movements in and out of the lists weekly. Revisions to earnings per share are ongoing, based on receipt of new information.

Persons who compiled this report may have an interest in securities commented on in this report.

Filed Under: Buy Rated Tagged With: Access Financial, Berger Paints, Caribbean Assurance Brokers, Caribbean Producers, Daily Trading, Emerging markets, FESCO, Future Energy Source, General Accident, Grace Kennedy, Jamaica Broilers, Jamaican Stock Exchange, Jamaican stocks, Jamaican Teas, junior market, Laco Distributors, Lasco Financial, Lumber Depot, Main Even, Medical Disposables, PANJAM Investment, Radio Jamaica, Scotia Group, Stationery and Office Supplies, Stocks to Watch, Sygnus Credit Investments, TOP 10 stocks, Trading Activity, Victoria Mutual Investments

9 straight days of JSE Main Market gains

April 23, 2021 by IC Insider.com

Friday’s trading completed the ninth trading day without a decline in the market of on the Jamaica Stock Exchange Main Market, with the All Jamaican Composite Index advancing 277.45 points to 442,290.57, the Main Index rising 205.25 points to 402,842.60 and the JSE Financial Index adding just 0.22 points to settle at 100.44 on a day with an 80 percent increase in volume and 38 percent in the values traded compared to that on Thursday.
A total of 52 securities traded, up from 49 on Thursday, with prices of 22 rising, 19 declining and 11 remaining unchanged. The PE Ratio, based on ICInsider.com’s forecast of 2021-22 earnings, averages 16.1.
Investors traded 14,183,739 shares for $110,730,479, up from 7,901,235 units at $80,463,111 on Thursday. Sagicor Select Financial Fund led trading with 26.5 percent of total volume trading 3.76 million shares followed by Transjamaican Highway 26.1 percent with 3.71 million units and Sagicor Select Manufacturing & Distribution Fund with 6.8 percent for 969,742 units.
Trading averaged 272,764 units at $2,129,432, compared to 161,250 shares at $1,642,104 on Thursday. Month to date trading averages 236,024 units at $1,554,972, in contrast to 232,142 units at $1,509,917 on Thursday. March averaged 354,304 units at $2,543,232.
Investor’s Choice bid-offer indicator reading has five stocks ending with bids higher than the last selling prices and three with lower offers.
At the close, Barita Investments gained 29 cents to close at $86.30, with 96,888 shares crossing the market. Berger Paints shed 50 cents and ended at $12.70 in the trading of 6,364 units, Caribbean Cement dropped $2.25 to finish at $73 after a transfer of 17,161 stocks, Eppley fell $2.76 to $32 with an exchange of 864 units, Eppley Caribbean Property Fund climbed $4 to $44 after a transfer of 58 stocks, Grace Kennedy rose $1 to $88 with 137,798 stocks clearing the market, Jamaica Producers slipped 25 cents to settle at $28 in transferring 9,365 stock units. JMMB Group rose 99 cents to $32.99 with 504,378 shares changing hands, Margaritaville dropped $3 to close at a 52 weeks’ low of $28 in trading 500 shares, MPC Caribbean Clean Energy gained 45 cents to close at $128 in an exchange of 93 shares, NCB Financial Group climbed $1.45 to $140 with the swapping of 26,540 stock units. 138 Student Living declined 40 cents to $5 with 2 stocks changing hands, PanJam Investment declined 60 cents to $63, with 504,975 stocks clearing the market, Proven Investments advanced 94 cents to $37.99 with investors switching ownership of 14,843 stocks, Sagicor Group shed 50 cents to close at $50 with 100,348 stocks crossing the exchange, Salada Foods picked up 30 cents to end at $6.50, with 174,920 shares changing hands, Scotia Group closed 34 cents higher at $41.90 after exchanging 27,609 stock units and Seprod fell 30 cents to $82.50 with 12,264 stock units changing hands.
In the preference segment, JMMB Group 7.25% advanced 37 cents to $2.83 in an exchange of just one share.

Closing prices are those for the last transaction of each stock traded unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: 138 Student Living, Barita Investments, Berger Paints, Caribbean Cement, Carreras, Community & Workers Credit Union, Daily Trading, Emerging markets, Eppley, Eppley Caribbean Property Fund, First Rock Capital, Grace Kennedy, Jamaica Broilers, Jamaica Producers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Key Insurance, Kingston Properties, Kingston Wharves, Mayberry Investments, Mayberry Jamaica Equities, NCB Financial, PANJAM Investment, Proven Investments, QWI Investments, Radio Jamaica, Sagicor Group, Sagicor Real Estate Fund, Sagicor Select Fund, Salada Foods, Scotia Group, Seprod, Stanley Motta, Sterling Investments, Supreme Ventures, Sygnus Credit, Trading Activity, Transjamaican Highway, Victoria Mutual Investments, Wigton Windfarm, Wisynco Group

Modest gains for Main Market on Thursday

April 22, 2021 by IC Insider.com

After two days of strong gains in the market indices, the market rose moderately on Thursday, with declining stocks just edging out those rising as 85 percent more funds changed hands than on Wednesday in moderate trading on the Jamaica Stock Exchange Main Market.
The All Jamaican Composite Index advanced 187.57 points to 442,013.12, after hitting 443,387.95 just after midday. The Main Index rose 170.79 points to 402,637.35 and the JSE Financial Index added 0.06 points in settling at 100.22.
Trading ended with 49 securities, up from 46 on Wednesday and closed with 17 stocks rising, 19 declining and 13 remaining unchanged and three stock closed at 52 weeks’ high. The PE Ratio, based on ICInsider.com forecast of 2021-22 earnings, averages 16.
The market closed with 7,901,235 shares trading for $80,463,111 compared to 7,818,411 units at $43,587,684 on Wednesday. Wigton Windfarm led trading with 31.1 percent of total volume for 2.46 million shares followed by JMMB Group with 15.8 percent for 1.25 million units and Transjamaican Highway with 12.9 percent for 1.02 million units.
Trading averaged 161,250 units at $1,642,104, compared to an average of 169,965 shares at $947,558 on Wednesday. Month to date trading averages 232,142 units at $1,509,917, in contrast to 238,879 units at $1,499,367 on Wednesday. March averaged 354,304 units at $2,543,232.
Investor’s Choice bid-offer indicator reading has nine stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Berger Paints rose $1.50 to $13.20 with 4,288 shares changing hands, Caribbean Cement gained 25 cents to close at a 52 weeks’ high of $75.25 in the trading of 25,261 stocks, Grace Kennedy shed 50 cents to end at $87 with 93,905 stock units clearing the market. Jamaica Broilers slipped 35 cents to $29.15 in the transfer of 25,790 shares, Jamaica Producers gained 25 cents to end at a 52 weeks’ high of $28.25 with an exchange of 17,108 units, NCB Financial Group declined $1.45 to $138.55 in switching ownership of 35,039 stocks, Palace Amusement advanced $20 in closing at $870 in an exchange of 401 shares, PanJam Investment ended 60 cents higher at $63.60 in transferring 34,829 stocks. Sagicor Group gained 50 cents to close at $50.50 in trading 8,039 shares, Salada Foods picked up 25 cents to settle at a 52 weeks’ high of $6.20 with the swapping of 96,977 stock units and Seprod declined $1.19 to $82.80 in switching ownership of 22,436 shares.
In the preference segment, JMMB Group 7.25% lost 13 cents to close at $1.70, with an exchange of 40,064 units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: 138 Student Living, Barita Investments, Berger Paints, Caribbean Cement, Carreras, Community & Workers Credit Union, Daily Trading, Emerging markets, Eppley, Eppley Caribbean Property Fund, First Rock Capital, Grace Kennedy, Jamaica Broilers, Jamaica Producers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Key Insurance, Kingston Properties, Kingston Wharves, Mayberry Investments, Mayberry Jamaica Equities, NCB Financial, PANJAM Investment, Portland JSX, Proven Investments, QWI Investments, Radio Jamaica, Sagicor Group, Sagicor Real Estate Fund, Sagicor Select Fund, Salada Foods, Scotia Group, Seprod, Stanley Motta, Sterling Investments, Supreme Ventures, Sygnus Credit, Trading Activity, Transjamaican Highway, Victoria Mutual Investments, Wigton Windfarm, Wisynco Group

Breakout for JSE Main Market

April 21, 2021 by IC Insider.com

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Another gallant run was the order of the day on Wednesday ended with the market pushing 3,627 points higher to 442,228.59 after nearly 90 minutes of trading rising after more stocks advanced than declined, with an exchange of 56 percent fewer shares, valued 47 percent less than on Tuesday on the Jamaica Stock Exchange Main Market as the market continues to break away from the triangular formation that constrained for some time.
The market continues to get support for the upward rise, from three technical indicators, with one of the most powerful that suggests big gains from the channel that it has been trading in for months. It has broken out of the range and is heading for a new one.
The All Jamaican Composite Index climbed 3,224.25 points to 441,825.55, the Main Index advanced 2,908.51 points to 402,466.56 and the JSE Financial Index added 0.62 points to end at 100.16.
Overall, 46 securities traded, down from 49 on Tuesday and with prices of 15 stocks rising, 14 declining and 17 remaining unchanged. The PE Ratio, based on ICInsider.com’s forecast of 2021-22 earnings, averages 16.
At the close, 7,818,411 shares trading for $43,587,684 compared to 17,602,037 units at $81,904,936 on Tuesday. Transjamaican Highway led trading with 26.2 percent for 2.05 million shares, followed by Wigton Windfarm with 24.1 percent for 1.88 million units and Sagicor Select Financial Fund with 16 percent for 1.25 million units.
Trading averaged 169,965 units at $947,558, compared to 359,225 shares at $1,671,529 on Tuesday. Month to date trading averages 238,879 units at $1,499,367, in contrast to 244,460 units at $1,544,056 on Tuesday. March averaged 354,304 units at $2,543,232.
Investor’s Choice bid-offer indicator shows ten stocks ending with bids higher than their last selling prices and two with lower offers.
The market closed with Mayberry Investments hitting an intraday 52 weeks’ low of $4.96 during trading, Stanley Motta traded at an intraday 52 weeks’ high of $6.40 and Seprod traded at an intraday 52 weeks’ high of $85.
At the close, Jamaica Stock Exchange gained 34 cents in closing at $17.60 with an exchange of 48,031 units, Kingston Wharves rose 78 cents to end at $43.79 after the transfer of 450 shares, Mayberry Investments slipped 25 cents in closing at $5.15 in the swapping of 31,520 stocks. Palace Amusement dropped $40 to finish at $850 with 291 shares clearing the market, PanJam Investment ended $1.95 higher at $63 with 24,598 stock units changing hands. Proven Investments lost 39 cents to settle at $37.11 in the trading of 18,182 stocks, Salada Foods rose 65 cents to end at $5.95 with the swapping of 65,978 shares, Scotia Group shed 37 cents ending at $41.62 in transferring 8,910 stock units and Supreme Ventures rose 29 cents to close at $16.14 after 41,765 units crossed the market.
In the preference segment, Eppley 8.25% advanced 13 cents to close at $6.25 with an exchange of 866 shares.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: 138 Student Living, Barita Investments, Berger Paints, Caribbean Cement, Carreras, Community & Workers Credit Union, Daily Trading, Emerging markets, Eppley, Eppley Caribbean Property Fund, First Rock Capital, Grace Kennedy, Jamaica Broilers, Jamaica Producers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Key Insurance, Kingston Properties, Kingston Wharves, Mayberry Investments, Mayberry Jamaica Equities, NCB Financial, PANJAM Investment, Portland JSX, Proven Investments, QWI Investments, Radio Jamaica, Sagicor Group, Sagicor Real Estate Fund, Sagicor Select Fund, Salada Foods, Scotia Group, Seprod, Stanley Motta, Sterling Investments, Supreme Ventures, Sygnus Credit, Trading Activity, Transjamaican Highway, Victoria Mutual Investments, Wigton Windfarm, Wisynco Group

Another big breakout arrest

April 20, 2021 by IC Insider.com

Another attempt for the stocks to break convincingly away from resistance level was tamed after 28 minutes of trading on Tuesday after a strong rise in the All Jamaican Composite Index markets index by 6,446 points to hit 443,393.70.

JSE Main Market breaking from a triangle formation.

The AJI market Index held on to 1,653.81 points to close at 438,601.30, the JSE Main Index advanced 1,494.18 points to 399,558.05 and the JSE Financial Index slipped 0.06 points to 99.54 as the market ended with an exchange of 133 percent more shares than on Monday.
Trading ended with 49 securities, down from 51 on Monday with 17 rising, 19 declining and 13 remaining unchanged. The PE Ratio, based on ICInsider.com forecast of 2021-22 earnings, averages 15.9.
Overall, 17,602,037 shares traded for $81,904,936 compared to 7,546,049 units at $75,677,429 on Monday. Wigton Windfarm led trading with 39.7 percent of total volume for an exchange of 6.99 million shares, followed by Sagicor Select Manufacturing & Distribution Fund with 17.5 percent for 3.08 million units, Transjamaican Highway with 14.9 percent for 2.62 million units and Sagicor Select Financial Fund with 9 percent after trading 1.60 million units.
Trading averaged 359,225 units at $1,671,530, compared to 147,962 shares at $1,483,871 on Monday. Month to date trading averages 244,460 units at $1,544,056 in contrast to 232,625 units at $1,532,021 on Monday. March averaged 354,304 units at $2,543,232.
Investor’s Choice bid-offer indicator shows nine stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Barita Investments shed 50 cents in closing at $85.80 trading 23,626 shares, Berger Paints finished 35 cents lower at $11.70 in the trading of 31,767 stocks. Caribbean Cement rose $1 to close at a 52 weeks’ high of $75 with an exchange of 42,032 units, Jamaica Producers gained 40 cents to close at $28 in the swapping of 29,010 stock units, Kingston Wharves declined by 78 cents to settle at $43.01 in the transfer of 226 stocks. MPC Caribbean Clean Energy lost 45 cents to close at a 52 weeks’ high of $127.55 in switching ownership of 9,974 units, NCB Financial rose $1.50 to $140 in an exchange of 14,704 stocks, 138 Student Living fell 20 cents to $5.50 with 791 stock units changing hands, Palace Amusement climbed $40 to end at $890 with the swapping of 259 shares. Pan Jam Investment shed $2.55 to finish at $61.05 in the exchange of 26,728 stock units, Proven Investments slid 50 cents to $37.50 in the trading of 18,300 units, Sagicor Group fell 49 cents to $50 with 16,629 shares changing hands, Scotia Group gained 34 cents to end at $41.99 in the transfer of 37,458 stock units, Seprod advanced $1.08 to close at a 52 weeks’ high of $84 with the swapping of 127,859 shares, Stanley Motta rose 61 cents to finish at $5.91 after an exchange of 25,420 stock units. Supreme Ventures advanced $1.75 to $15.85, trading 104,384 shares and Sygnus Credit Investments gained 50 cents in ending at $15 with an exchange of 74,006 stock units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: 138 Student Living, Barita Investments, Berger Paints, Caribbean Cement, Carreras, Community & Workers Credit Union, Daily Trading, Emerging markets, Eppley, First Rock Capital, Grace Kennedy, Jamaica Broilers, Jamaica Producers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Key Insurance, Kingston Properties, Kingston Wharves, Mayberry Investments, Mayberry Jamaica Equities, NCB Financial, PANJAM Investment, Portland JSX, Proven Investments, QWI Investments, Radio Jamaica, Sagicor Group, Sagicor Real Estate Fund, Sagicor Select Fund, Salada Foods, Scotia Group, Seprod, Stanley Motta, Sterling Investments, Supreme Ventures, Sygnus Credit, Trading Activity, Transjamaican Highway, Victoria Mutual Investments, Wigton Windfarm, Wisynco Group

Attempted breakout thwarted

April 19, 2021 by IC Insider.com

Investors pushed the market sharply higher in early trading on Monday, to the highest level in just a few days over a year ago as the All Jamaica Composite Index hit 441,056.72, after rising 4,461 points after 80 minutes of the market opening. Buying pressure eased thereafter, with the market only adding a few hundred points at the close of the Jamaica Stock Exchange Main Market on Monday.
The All Jamaican Composite Index increased 351.51 points to 436,947.49, the JSE Main Index carved out a gain of 316.37 points to close at 398,063.87 and the JSE Financial Index advanced 0.16 points to 99.60.
Trading ended with 51 securities, up from 47 on Friday and closed with 19 stocks rising, that includes Jamaica Producers and Seprod that closed trading at 52 weeks’ high. Prices of 16 stocks declined and 16 remained unchanged. The PE Ratio, based on ICInsider.com’s forecast of 2021-22 earnings, averages 15.6.
The volume of shares traded fell 51 percent, with the values dipping 15 percent from Friday as 7,546,049 shares traded for $75,677,429 down from 15,472,941 units at $89,310,861 on Friday. Transjamaican Highway led trading with 46.2 percent of total volume for 3.49 million shares, followed by Wigton Windfarm with 17.6 percent for 1.33 million units and Caribbean Cement with 6.8 percent for 513,466 units changing hands.
Trading ended averaging 147,962 units at $1,483,871, compared to 329,212 shares at $1,900,231 on Friday. Month to date trading averages 2323,625 units at $1,532,021, in contrast to 242,960 units at $1,537,268 on Friday. March averaged 354,304 units at $2,543,232.
Investor’s Choice bid-offer indicator shows nine stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Barita Investments advanced $1.20 to $86.30 in switching ownership of 2,702 units, Caribbean Cement rose $1 to $74 in an exchange of 513,466 shares, Eppley climbed $6.77 to $34.77 with the swapping of 45,285 units, Jamaica Producers closed $2.60 higher at a 52 weeks’ high of $27.60 with the trading of 4,876 stocks. Jamaica Stock Exchange slipped 35 cents in ending at $17.25 in an exchange of 15,021 units, Mayberry Investments rose 27 cents to $5.42 with the transfer of 2,000 stocks. 138 Student Living gained 20 cents to end at $5.70 with an exchange of 36 stock units, Palace Amusement climbed $41 to close at $850 in the swapping of 46 stock units, Pan Jam Investment rose $1.60 to close at $63.60 in switching ownership of 27,211 units, Proven Investments advanced $2 to $38 with an exchange of 143,958 shares. Sagicor Group gained 49 cents to close at $50.49 after exchanging 12,602 units, Seprod jumped $6.32 higher to a 52 weeks’ high of $82.92 with 8,914 stock units clearing the market. Supreme Ventures shed $1.90 in closing at $14.10 in the trading of 422,951 stocks and Victoria Mutual Investments gained 45 cents in ending at $5.78 with 58,944 units changing hands.
In the preference segment, Eppley 7.50% preference share fell 70 cents to close at $6.25 in exchanging 100 stocks.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: 138 Student Living, Barita Investments, Berger Paints, Caribbean Cement, Carreras, Community & Workers Credit Union, Daily Trading, Emerging markets, Eppley, Eppley Caribbean Property Fund, First Rock Capital, Grace Kennedy, Jamaica Broilers, Jamaica Producers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Key Insurance, Kingston Properties, Kingston Wharves, Mayberry Investments, Mayberry Jamaica Equities, NCB Financial, PANJAM Investment, Proven Investments, QWI Investments, Radio Jamaica, Sagicor Group, Sagicor Real Estate Fund, Sagicor Select Fund, Salada Foods, Scotia Group, Seprod, Sterling Investments, Supreme Ventures, Sygnus Credit, Trading Activity, Transjamaican Highway, Victoria Mutual Investments, Wigton Windfarm, Wisynco Group

Shake up in Junior Market ICTOP10

April 17, 2021 by IC Insider.com

Trading in the past week saw the Junior Market continuing its bullish rise, to sit at a 14.5 months high, but the Main Market continues to consolidate, sitting well below last April’s peak, but technical signals suggest that this situation is going to end soon.
Increased buying came into the market for Caribbean Cream during the past week, but the price pulled back slightly at the close to $6.34 for the stock to return to the TOP 10 at the expense of Main Event that closed the week with an impressive gain of 36 percent as it closed at $4.74. There were no exits or additions to the Main market TOP 10. Additionally, the top three Junior Market stocks changed markedly, with only one from last week remaining in the top three.
Recent activity in Caribbean Cream’s stock comes against the background of a rising stock price from a low of $4.35 to $6.34 over the past month and seems to suggest that investors are anticipating positive news when the company releases full year results later this month. The board meets next week Friday to consider a dividend. The financials for the full year to February should be released in days after.
The main market continues to trade in a narrow channel and now shows signs that a break out is imminent. First quarter results start coming in the latter part of this month and will determine the short-term move. In this regard, watch Barita Investments, Caribbean Cement, Grace Kennedy, Jamaica Producers, NCB Financial, PanJam Investment and Sagior Group.
The top three stocks in the Junior Market at the end of the last week are Jetcon Corporation followed by Main Event and Elite Diagnostic, but the list has changed and is now headed by Stationery and Office Supplies, followed by Elite Diagnostic and Medical Disposables with the potential to gain between 286 to 317 percent. The top three Main Market stocks remain unchanged, but in a slightly different order, with Radio Jamaica in the number one spot, followed by VM Investments and PanJam Investment, with expected gains of 190 to 394 percent.

Knutsford Express

The Junior Market and the Main Market continue to get support from technical indicators that point to robust gains ahead. Added to the technical indicators is the limited supply of shares for some companies. One such is Caribbean Cream that currently has few offers on the board, the same goes for Elite Diagnostic, Stationery and Office Supplies, Lasco Financial, Main Event, ISP Financial, Cargo Handlers. In the Main Market, Berger Paints, Jamaica Producers and Radio Jamaica show limited supply in the market currently.
This week’s focus: Investors should key an eye on Consolidated Bakeries, Fosrich and Jamaica Producers, this week, all three stocks have very low supplies on offer currently. Lasco Manufacturing has a large volume on the bid at $4.50 at the close on Friday and should also be watched. Knutsford Express is not in our TOP 10, but the latest results show that a turnaround has started with the February quarter showing a moderate loss of a mere $1.7 million from sales that fell 42 percent from $318 million to $185 million. The results show a marked improvement over November when revenues fell from $283 million to $149 million with a loss of $34 million. The results for the latest quarter supports ICInsider.com’s forecast for the company to return to profit for the 2022 fiscal year.
The targeted PE ratio for the market averages 20 based on profits of companies reporting full year’s results, up to the second quarter of 2022. For reference, fiscal 2020-21 average PE ended at 17 for Junior Stocks and 19 times for the Main Market at the end of March 2021. With interest rates on government paper below 5 percent and likely to remain there for a few years, the likelihood is for the average PE ratios to climb higher during the next twelve months.
The Junior Market, with an average PE 12.4 based on ICInsider.com’s 2021-22 earnings, is currently trading well below the target, as well as the recent historical average of 17. The Junior Market Top 10 stocks average a mere 5.8 at just 46 percent of the market average, indicating strong gains ahead. The JSE Main Market ended the week with an overall PE of 15.4, some distance from the 19 the market ended March at. The Main Market TOP 10 trades at a PE of 7.3 or 48 percent of the PE of that market and well off the potential of 20.
The average projected gain for the Junior Market IC TOP 10 stocks is 252 percent and 185 percent for the JSE Main Market, based on 2021-22 earnings. IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on likely gain for each company, taking into account the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in movements in and out of the lists weekly. Revisions to earnings per share are ongoing, based on receipt of new information.

Persons who compiled this report may have an interest in securities commented on in this report.

Filed Under: Buy Rated Tagged With: Access Financial, Berger Paints, Caribbean Assurance Brokers, Caribbean Producers, Carreras, Daily Trading, Emerging markets, FESCO, General Accident, Grace Kennedy, Jamaica Broilers, Jamaican Stock Exchange, Jamaican stocks, Jamaican Teas, junior market, Laco Distributors, Lasco Financial, Lumber Depot, Main Event, Medical Disposables, PANJAM Investment, Radio Jamaica, Scotia Group, Stationery and Office Supplies, Stocks to Watch, Sygnus Credit Investments, TOP 10 stocks, Trading Activity, Victoria Mutual Investments

More gains for JSE main Market

April 16, 2021 by IC Insider.com

Trading activity ended on Friday with the market rising after more stocks advanced than declined, with 14 percent more shares changing hands with 64 percent less values than on Thursday, at the close of the Jamaica Stock Exchange Main Market.
The All Jamaican Composite Index rose 833.77 points to 436,595.98, the JSE Main Index advanced 740.65 points to 397,747.50 and the JSE Financial Index fell 0.54 points to settle at 99.44.
Trading ended with 47 securities, up from 45 on Thursday, with 18 stocks rising, 16 declining and 13 remaining unchanged. The PE Ratio based on ICInsider.com forecast of 2021-22 earnings averages 15.4.
The market closed with 15,472,941 shares trading for $89,310,861 compared to 13,523,122 units at $248,266,043 on Thursday. Wigton Windfarm traded 45.6 percent of total volume, with 7.05 million shares, followed by Stanley Motta with 12.2 percent after exchanging 1.89 million units and QWI Investments with 10.3 percent for 1.59 million units
Trading averaged 329,212 units at $1,900,231, compared to 300,514 shares at $5,517,023 on Thursday. Month to date trading averages 242,960 units at $1,537,268, in contrast to 231,331 units at $1,496,747 on Thursday. March averaged 354,304 units at $2,543,232.
Investor’s Choice bid-offer indicator reading has seven stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Barita Investments fell $1.30 to $85.10 with the trading of 8,375 shares, Caribbean Cement climbed $3.50 to $73 after 6,582 units crossed the exchange, Eppley declined by $3 to $28 after trading 89,804 stock units. Eppley Caribbean Property Fund shed 52 cents in closing at $40.02, after exchanging 1,000 stocks Jamaica Broilers lost 20 cents to finish at $29.30 with 17,536 shares changing hands. Jamaica Producers ended 25 cents lower at $25 in the swapping of 26,570 units, Jamaica Stock Exchange fell 40 cents to $17.60 after exchanging 31,336 stock units, Kingston Wharves rose 30 cents to $43.80 with a transfer of 3,116 shares, NCB Financial dropped $4.49 to $138.50 with the swapping of 264,173 units. Palace Amusement climbed $69 to close at $809 after trading 11 units, Portland JSX advanced 89 cents to $8 with investors switching ownership of 30,200 units, Proven Investments shed 70 cents in closing at $36 in an exchange of 10,779 stock units. Scotia Group lost 24 cents in closing at $41.75 in switching ownership of 89,361 shares. Seprod rose $1.10 to end at $76.60 after 12,053 stocks crossed the exchange, Supreme Ventures gained 49 cents to close at $16 with a transfer of 38,806 shares and Wisynco Group rose 73 cents to $15.83 in the swapping of 36,486 units.
In the preference segment, JMMB Group 7.25% rose 24 cents ending at $1.83 in trading 1,250 units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: Barita Investments, Berger Paints, Caribbean Cement, Carreras, Community & Workers Credit Union, Daily Trading, Emerging markets, Eppley, Eppley Caribbean Property Fund, First Rock Capital, Grace Kennedy, Jamaica Broilers, Jamaica Producers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Key Insurance, Kingston Wharves, Mayberry Investments, Mayberry Jamaica Equities, NCB Financial, PANJAM Investment, Portland JSX, Proven Investments, QWI Investments, Radio Jamaica, Sagicor Group, Sagicor Real Estate Fund, Sagicor Select Fund, Salada Foods, Scotia Group, Seprod, Stanley Motta, Sterling Investments, Supreme Ventures, Sygnus Credit, Trading Activity, Transjamaican Highway, Victoria Mutual Investments, Wigton Windfarm, Wisynco Group

Bears halt another big move

April 15, 2021 by IC Insider.com

Bulls made a gallant attempt to push the Jamaica Stock Exchange Main Market up another 3,000 plus points on Thursday, following Wednesday’s healthy rise, but the early gains were whittled away as market activity ended, with just a few hundred points rise in the indices at the close.
The All Jamaican Composite Index advanced 375.09 points to 435,762.21, the JSE Main Index rose 322.43 points to 397,006.85, and the JSE Financial Index gained 0.36 points to end at 99.98.
Trading ended with 45 securities, down from 47 on Wednesday with prices of 19rising, 12 declining and 14 remaining unchanged. The PE Ratio based on ICInsider.com’s forecast of 2021-22 earnings averages 15.3.
The market closed with 36 percent more shares traded with a value that was 527 percent greater than on Wednesday, resulting from 13,523,122 shares trading for $248,266,043, up from 9,910,014 units at $39,590,810 on Wednesday. Jamaica Producers led trading with 44.9 percent of total volume for 6.07 million shares, followed by Transjamaican Highway with 15 percent for 2.03 million units, Wigton Windfarm accounted for 14.7 percent with 1.99 million units and Caribbean Cement with 7.9 percent for an exchange of 1.07 million units.
Trading averaged 300,514 units at $5,517,023, compared to an average of 210,851 shares at $842,358 on Wednesday. Month to date trading averages 231,680 units at $1,486,157, in contrast to 223,508 units at $1,007,558 on Wednesday. March averaged 354,304 units at $2,543,232.
Investor’s Choice bid-offer indicator reading has seven stocks ending with bids higher than their last selling prices and one with lower offers.
At the close, Caribbean Cement declined $2.50 in closing at $69.50 after an exchange of 1,065,806 shares, Eppley Caribbean Property Fund dropped $3.85 to $40.54, with 210 units changing hands, Jamaica Producers advanced $1.25 to a 52 weeks’ high of $25.25 in trading 6,066,805 shares. The gain follows the announcement that the company is acquiring 50 percent shares in the UK based shipping line, Geest Line Limited. Key Insurance picked up 38 cents to end at $5.96 in a transfer of 80,438 units, Mayberry Investments lost 20 cents to close at $5.15 in trading 18,224 stocks, Palace Amusement dropped $55 in ending at $740 with the swapping of 51 shares. PanJam Investment shed 49 cents to close at $62 in an exchange of 169,406 stock units, Proven Investments rose 71 cents to $36.70 trading 24,702 stocks. Sagicor Group fell 60 cents to finish at $50 after 9,782 shares crossed the exchange.

Salada Foods gained 35 cents ending at $5.20 with an exchange of 5,775 stock units, Scotia Group closed 54 cents higher at $41.99 with the swapping of 2,624 shares, Seprod rose 50 cents to close at $75.50, trading 9,402 units and Supreme Ventures gained 49 cents and ended at $15.51 in the transfer of 52,263 shares.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: Barita Investments, Caribbean Cement, Carreras, Community & Workers Credit Union, Daily Trading, Emerging markets, Eppley Caribbean Property Fund, First Rock Capital, Grace Kennedy, Jamaica Broilers, Jamaica Producers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Key Insurance, Kingston Properties, Kingston Wharves, Mayberry Investments, Mayberry Jamaica Equities, NCB Financial, PANJAM Investment, Portland JSX, Proven Investments, QWI Investments, Radio Jamaica, Sagicor Group, Sagicor Real Estate Fund, Sagicor Select Fund, Salada Foods, Scotia Group, Seprod, Stanley Motta, Sterling Investments, Supreme Ventures, Sygnus Credit, Trading Activity, Transjamaican Highway, Victoria Mutual Investments, Wigton Windfarm, Wisynco Group

Big gains for JSE Main Market

April 14, 2021 by IC Insider.com

The market gained in trading on Wednesday after advancing stocks outdistanced declining ones by a third, after 38 percent less funds traced stocks than on Tuesday, as the Main Market of the Jamaica Stock Exchange closed.
The All Jamaican Composite Index jumped 3,638.22 points to 435,387.12, the JSE Main Index climbed 3,316.85 points to 396,684.42, and the JSE Financial Index gained 0.79 points to settle at 99.62.
Trading ended with 47 securities, down from 50 on Tuesday and closed with prices of 18 stocks rising, 14 declining and 15 remaining unchanged. The PE Ratio averages 15.5 based on ICInsider.com’s forecast of 2021-22 earnings.
The market closed with 9,910,014 shares trading for $39,590,810 compared to 9,823,398 units at $63,848,406 on Tuesday. Wigton Windfarm led trading with 52.4 percent of total volume for 5.20 million shares, followed by Transjamaican Highway with 18.5 percent for 1.83 million units and JMMB Group 7.35% due 2028 with 7.1 percent for 701,195 units.
Trading averaged 210,851 units at $842,358, compared to 196,468 shares at $1,276,968 on Tuesday. Month to date averages 223,508 units at $1,007,558, in contrast to 225,299 units at $1,030,945 on Tuesday. March averaged 354,304 units at $2,543,232.
Investor’s Choice bid-offer indicator shows seven stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Caribbean Cement declined $1.20 to $72 trading 9,767 shares, Eppley Caribbean Property Fund climbed $3.94 to $44.39 with an exchange of 786 stocks, First Rock Capital shed 55 cents to finish at $16 in transferring 5,434 stock units. Jamaica Producers ended $3.30 higher at $24 with the swapping of 100,583 shares, Jamaica Stock Exchange rose 95 cents to $17.95 with 3,250 stock units changing hands. Key Insurance shed 32 cents to close at $5.58 after 107,594 units crossed the market, Kingston Wharves finished 39 cents lower at $43.50 in exchanging 2,542 stocks. NCB Financial advanced $2.96 to $142.95 after trading 23,531 shares, Palace Amusement dropped $19 to close at $795 in switching ownership of 72 stock units, Proven Investments rose 99 cents to end at $35.99 in the swapping of 245,561 stocks. Sagicor Group gained 60 cents to settle at $50.60 with 3,166 shares changing hands, Scotia Group picked up 44 cents to end at $41.45 trading 103,584 stock units and Seprod rose 50 cents to close at $75 in switching ownership of 10,543 shares.