Two companies exist ICTOP10

As was the case last week, the Jamaica stock market continues to consolidate as it awaits developments that will push investors to act decisively. At the same time, the Main Market traded heavily and sat below the close of the previous week but the Junior Market mostly traded above the prior week’s close.
After just one week in the ICTOP10, Tropical Battery price rose this week and resulted in the stock falling outside the top flight, to be replaced by Lasco Manufacturing that dropped out during the previous week. In the Main Market, Scotia Group slipped out of the TOP10 and Radio Jamaica reentered.
At the end of the week, Tropical Battery rose 9 percent to $2.60, Image Plus Consultants gained 6 percent to close at $2.05, Paramount Trading rallied 5 percent to $2.20 and Iron Rock Insurance rose 4 percent to end at $2.50. Honey Bun fell 8 percent to $7.07 and was the only one of only two stocks to decline for the week, with the other slipping by just one percent.
In the Main Market, 138 Student Living popped 11 percent to $5.56, while Berger Paints fell 8 percent to $9.75, followed by a 5 percent decline for Jamaica Broilers to close at $30.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.6, well below the market average of 14.7, while the Junior Market Top 10 PE sits at 6.6 versus the market at 12.8, important indicators of the level of the undervaluation of the ICTOP10 stocks currently. The Junior Market is projected to rise by 208 percent and the Main Market TOP10 an average of 275 percent, to May this year. The major concern for the Main Market achieving such gains by May is that the list is dominated by financial companies that are out of favour and may need to see the summer months before full interest of investor start to show.
The Junior Market has 16 stocks representing 33 percent of the market, with PEs from 15 to 31, averaging 21 compared with the above average of the market. The top half of the market has an average PE of 18. The above average shows the extent of potential gains for the TOP 10 stocks. The situation in the Main Market is similar, with the 18 highest valued stocks priced at a PE of 15 to 116, with an average of 28 and 21 excluding the highest valued stocks and 28 for the top half excluding the highest valued stock.
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 are likely to 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 and result in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.

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

Trading picks upon JSE USD market Friday

Trading picked up steam on the Jamaica Stock Exchange US dollar market on Friday, with a 12 percent rise in the volume of stocks exchanged, leading to a 61 percent jump in value over Thursday, following trading in eight securities, compared to seven on Thursday with five rising, one declining and two ending unchanged.
Overall, 291,324 shares were exchanged for US$20,906 compared with 260,566 units at US$12,989 on Thursday.
Trading averaged 36,416 shares at US$2,613 versus 37,224 shares at US$1,856 on Thursday, with a month to date average of 38,137 shares at US$2,421 compared with 39,121 units at US$2,311 on the previous day. January ended with an average of 48,604 units for US$4,865.
The JSE USD Equities Index rose 0.51 points to 223.44.
The PE Ratio, a measure used in computing appropriate stock values, averages 14.8. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows no stock ending with a bid higher than the last selling prices and one with a lower offer.
At the close, First Rock Real Estate USD share rallied 0.02 of a cent to end at 7 US cents after 3,283 shares passed through the market, Proven Investments increased 0.84 of one cent in ending at 20 US cents in an exchange of 11,800 stock units, Sygnus Credit Investments USD share advanced 0.47 of a cent to 9.98 US cents after an exchange of 24,718 units. Sygnus Real Estate Finance USD share lost 0.6 of one cent in closing at 8.9 US cents and trading 13,505 stocks and Transjamaican Highway remained at 0.92 of one US cent in an exchange of 230,000 stock units.
In the preference segmentProductive Business 9.25% preference share gained 89 cents to end at US$12 after trading 23 stocks. JMMB Group 5.75% popped 4 cents in closing at US$2.01 with investors transferring 4,215 shares and JMMB Group 6% ended at US$1 with 3,780 units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

JSE USD market dips for a second day

Trading on the Jamaica Stock Exchange US dollar market ended on Thursday, with the volume of stocks changing hands declining 9 percent and resulting in a 33 percent fall in the value compared to Wednesday, following trading in seven securities, compared with seven on Wednesday with one rising, three declining and three ending unchanged.
Overall, 260,566 shares were traded for US$12,989 compared with 287,125 units at US$19,364 on Wednesday.
Trading averaged 37,224 units at US$1,856 down from 41,018 shares at US$2,766 on Wednesday, with month to date average of 39,121 shares at US$2,311. January ended with an average of 48,604 units for US$4,865.
The JSE USD Equities Index slipped 0.54 points to end at 222.95.
The PE Ratio, a measure used in computing appropriate stock values, averages 10. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than the last selling prices and one with a lower offer.
At the close, First Rock Real Estate USD share dropped 0.02 of a cent in ending at 6.98 US cents after 35,761 shares were traded, Proven Investments lost 0.84 of a cent to end at 19.16 US cents while exchanging 16,700 stock units, Sterling Investments popped 0.18 of a cent in closing at 1.99 US cents as 494 stocks passed through the market. Sygnus Credit Investments USD share ended at 9.51 US cents 16,850 units crossing the market and Transjamaican Highway remained at 0.92 of one US cent with investors exchanging 187,273 stocks.
In the preference segmentEquityline Mortgage Investment preference share fell 3 cents to US$1.64 after a transfer of 488 units and JMMB Group 6% ended at US$1 trading 3,000 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Slippage for JSE USD Market

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Trading plunged on the Jamaica Stock Exchange US dollar market on Wednesday from Tuesday’s levels with a 74 percent fall in the volume of stocks changing hands with the value declining 48 percent from Tuesday’s level with trading in seven securities compared to eight on Tuesday with the price of one rising, two declining and four ending unchanged.
Overall, 287,125 shares were traded for US$19,364 down from 1,121,685 units at US$37,070 on Tuesday.
Trading averaged 41,018 units at US$2,766 versus 140,211 shares at US$4,634 on Tuesday. January ended with an average of 48,604 units for US$4,865.
The JSE USD Equities Index lost 1.96 points to end at 223.47.
The PE Ratio, a measure used in computing appropriate stock values, averages 10. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than the last selling prices and one with a lower offer.
At the close, First Rock Real Estate USD share remained at 7 US cents as investors exchanged 19,429 shares, Margaritaville dipped 0.07 of a cent ending at 14.1 US cents with two stocks crossing the exchange, Proven Investments ended at 20 US cents after 11,350 units were traded. Sterling Investments popped 0.01 of a cent to close at 1.81 US cents with 63,007 stock units changing hands, Sygnus Credit Investments USD share ended at 9.51 US cents after exchanging 12,385 stock units and Transjamaican Highway lost 0.07 of a cent to 0.92 of one US cent while exchanging 169,103 units.
In the preference segmentJMMB Group 6% ended at US$1 after trading 11,849 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Big gain for JSEUSD Market

Stocks mostly rose in trading on the Jamaica Stock Exchange US dollar market on Tuesday and resulting in trading in eight securities, compared to 10 on Monday with four rising, two declining and two ending unchanged, following a 96 percent increase in the volume of stocks changing hands but with an 86 percent lower value than on Monday.
Overall, 1,121,685 shares were traded for US$37,070 compared with 571,649 units at US$267,767 on Monday.
Trading averaged 140,211 units at US$4,634 versus 57,165 shares at US$26,777 on Monday, with month to date average of 48,604 shares at US$4,865 compared with 44,293 units at US$4,876 on the previous day. December ended with an average of 39,679 units for US$1,494.
The JSE USD Equities Index gained 6.36 points to end at 225.43.
The PE Ratio, a measure used in computing appropriate stock values, averages 10.1. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than the last selling prices and one stock with a lower offer.
At the close, First Rock Real Estate USD share declined 0.69 of a cent in closing at 7 US cents with a transfer of 21,828 shares, Productive Business Solutions increased 5 cents to US$1.70 after an exchange of 12,460 stock units, Proven Investments popped 0.01 of a cent to 20 US cents with the swapping of 8,932 stocks. Sterling Investments lost 0.07 of a cent to end at 1.8 US cents with an exchange of 36,993 units, Sygnus Credit Investments USD share rallied 0.01 of a cent to end at 9.51 US cents with an exchange of 20,712 stocks and Transjamaican Highway rose 0.02 of a cent to close at 0.99 of one US cent and closed with an exchange of 1,020,720 shares.
In the preference segmentProductive Business 9.25% preference share remained at US$11.11 in trading 27 stock units and JMMB Group 6% ended at US$1, with 13 units changing hands.

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

Huge jump for JSE USD Market

The JSE USD Equities market had a solid bounce in trading on Monday, with the market index jumping 11 percent with a 20.91 points surge to end at 219.07 following a sharp 3,350 percent surge in monies entering the market on Monday and ended with a 158 percent jump the volume of stocks trading over Friday.
Trading ended with ten securities changing hands, up from six on Friday, with four rising, two declining and four ending unchanged.
Investors traded 571,649 shares for US$267,767 compared with 221,731 units at US$7,760 on Friday.
Trading averaged 57,165 units at US$26,777, up from 36,955 shares at US$1,293 on Friday, with a month to date average of 44,293 shares at US$4,876 compared with 43,489 units at US$3,507 on the previous trading day. December ended with an average of 39,679 units for US$1,494.
The PE Ratio, a measure used in computing appropriate stock values, averages 10.2. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than the last selling prices and one with a lower offer.
At the close, First Rock Real Estate USD share dropped 0.06 of a cent in closing at 7.69 US cents with an exchange of 2,825 shares, Margaritaville rallied 1.85 cents to close at 14.17 US cents, trading 129 units, MPC Caribbean Clean Energy advanced 4 cents to 59 US cents after trading of 3,009 stocks. Productive Business Solutions popped 37.5 cents to end at US$1.65 in trading 110,849 stock units, Proven Investments dipped 0.01 of a cent to 19.99 US cents and closed with an exchange of 450,043 shares and Transjamaican Highway remained at 0.97 of one US cent as investors traded 1,159 units.
In the preference segmentProductive Business 9.25% preference share ended at US$11.11 as four stock units passed through the market, Eppley 6% preference share increased 10.5 cents in closing at US$1.15 after a transfer of 3 stocks, Equityline Mortgage Investment preference share ended at US$1.67 with one stock crossing the exchange and JMMB Group 6% remained at US$1 with a transfer of 3,627 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

A Lasco company exists ICTOP10

The Jamaica stock market continues to consolidate, awaiting a dynamic development to push it decisively in one direction or another as the Bank of Jamaica quietly tightened the money supply further in January, drying up buying power in the short run. The first big likely move is unlikely to be a reduction of interest rates which is seemingly set to occur in the second quarter, but the reporting of substantially increased profits to flow from some companies.
Tropical Battery returns to the ICTOP10 list for this week with projected earnings of 30 cents for the current year, up from 15 cents last fiscal year and replaces Lasco Manufacturing which dropped out with a rise in price during the week as the supply of the stock has drooped sharply recently, with just 11 offers to sell now in the system.
Image Plus Consultants reported nine months results with revenues rising 27 percent in the November quarter to $248 million and 43 percent in the nine months to $803 million, while profit  rose moderately to $24 million from $22 million in 2021 and for the nine months profits nearly tripled that of 2021 to reach $148 million. The company reported incorrect earnings per share for the periods, using the incorrect number of shares. As a result, rather than 29 cents per share for the quarter and $1.84, it is 2.3 cents and 15 cents for the nine months. Regardless, the stock is cheap based on these earnings and those to come.
Honey Bun rose 10 percent to $7.69, with the December quarter results due any time now, Lasco Financial gained 9 percent to $2.84 and Lasco Manufacturing gained 5 percent to $4.79. General Accident rallied 6 percent to $4.99. Image Plus Consultants entered the ICTOP10 after just one day of trading and fell to a low of $1.86 during the past week before rebounding to close this past week with a fall of 12 percent to $1.93, Caribbean Assurance Brokers lost 6 percent of its value to close at $2 and Paramount Trading fell 5 percent to $2.10.
All other movements in the Junior Market TOP10 were 3 percent or less. The Main Market Berger Paints popped 12 percent to $10.60, followed by a 9 percent rise for Jamaica Broilers to close at $31.50 and Guardian Holdings with a gain of 4 percent to $535. There were no notable losses.
At the end of the week, the average PE for the JSE Main Market TOP10 is 5.6, well below the market average of 15, while the Junior Market Top 10 PE sits at 6.5 versus the market at 12.6, critical indicators of the level of the undervaluation of the ICTOP10 stocks currently. The Junior Market is projected to rise by 211 percent and the Main Market TOP10 by an average of 274 percent to May this year. The primary concern for the Main Market achieving such gains by May is that the list is dominated by financial companies that are out of favour and may need to see the summer months before the full interest of investor start to show.
The Junior Market has 15 stocks representing 31 percent of the market, with PEs from 15 to 29, averaging 21 compared with the above average of the market. The top half of the market has an average PE of 18, with prices of Fosrich and Future Energy adjusting downwards closer to the average of the TOP15. The above average shows the extent of potential gains for the TOP 10 stocks. The situation in the Main Market is similar, with the 18 highest valued stocks priced at a PE of 15 to 116, with an average of 27 and 20 excluding the highest valued stocks and 27 for the top half excluding the highest valued stock.
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.

 

 

 

More decline for the JSE USD Market

Trading fell on Friday on the Jamaica Stock Exchange US dollar market, with the volume of stocks changing hands declining by 47 percent and the value falling by 79 percent compared to Thursday, resulting in six securities traded, compared to nine on Thursday with two rising, one declining and three ending unchanged.
Overall, 221,731 shares were traded for US$7,760 compared with 417,724 units at US$36,261 on Thursday.
Trading averaged 36,955 shares at US$1,293 down from 46,414 units at US$4,029 on Thursday, with month to date average of 43,489 shares at US$3,507 compared with 43,744 units at US$3,593 on the previous day. December ended with an average of 39,679 units for US$1,494.
The JSE USD Equities Index lost 1.30 points to end at 198.16.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.8. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than the last selling prices and none with a lower offer.
At the close, First Rock Real Estate USD share dipped 0.04 of a cent to end at 7.75 US cents in switching ownership of 65 shares, Proven Investments ended at 20 US cents after 1,539 units were traded, Sygnus Credit Investments USD share remained at 9.5 US cents in swapping of 2,125 stocks and Transjamaican Highway advanced 0.06 of a cent to 0.97 of one US cent after a transfer of 212,897 stock units.
In the preference segmentProductive Business 9.25% preference share gained 11 cents in closing at US$11.11, with 19 stocks clearing the market and JMMB Group 6% ended at US$1 in trading 5,086 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Trading picks up for JSE USD Market

Trading on the Jamaica Stock Exchange US dollar market ended on Thursday, with the volume of stocks changing hands rising 266 percent valued 819 percent more than on Wednesday, after nine securities were traded, compared to eight on Wednesday with three rising, two declining and four ending unchanged.
Overall, 417,724 shares were traded for US$36,261 compared with 114,022 units at US$3,947 on Wednesday.
Trading averaged 46,414 shares at US$4,029 compared with 14,253 units at US$493 on Wednesday, with a month to date average of 43,744 shares for US$3,593 being fairly steady with 43,578 units at US$3,566 on the previous day. December ended with an average of 39,679 units for US$1,494.
The JSE USD Equities Index added 0.37 points to end at 199.46.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.7. The PE ratio incorporates ICInsider.com earnings forecasts for companies with financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than the last selling prices and none with a lower offer.
At the close, First Rock Real Estate USD share popped 0.79 of a cent to 7.79 US cents crossing after investors exchanged 400,159 shares, Productive Business Solutions remained at US$1.275 after a transfer of 585 stock units, Proven Investments climbed 0.89 of a cent in closing at 20 US cents after trading 16,499 stocks. Sygnus Credit Investments J$ share ended at 12 US cents, with 180 units crossing the market, Sygnus Credit Investments USD share ended at 9.5 US cents after trading 59 shares and Transjamaican Highway fell 0.04 of a cent to end at 0.91 of one US cents as 76 units changed hands.
In the preference segmentProductive Business 9.25% preference share remained at US$11 after 150 stock units changed hands, Eppley 6% preference share dropped 2.5 cents to US$1.045 with investors transferring 15 stocks and Equityline Mortgage Investment preference share rallied 3 cents to close at US$1.67 after an exchange of one unit.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Volume surges prices drop on JSE USD Market

Trading jumped on the Jamaica Stock Exchange US dollar market on Tuesday, with 905 percent more stocks changing hands, with the value rising 226 percent over Monday, resulting in the trading of 12 securities, compared to eight on Monday with no rising, eight declining and four ending unchanged.
Trading ended with an exchange of 1,638,947 shares for US$60,212 from 163,158 units at US$18,456 on Monday.
Trading averaged 136,579 units at US$5,018 versus 20,395 shares at US$2,307 on Monday, with a month to date average of 45,290 shares at US$3,746 compared with 36,527 units at US$3,624 on the previous day. December ended with an average of 39,679 units for US$1,494.
The JSE US Denominated Equities Index lost 3.71 points to end at 213.33.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.9. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows no stock ending with a bid higher than the last selling price and one with a lower offer.
At the close, First Rock Real Estate USD share fell 0.49 of a cent in ending at 7 US cents after an exchange of 34 shares, MPC Caribbean Clean Energy shed 5 cents in closing at 55 US cents, with 13 units crossing the market, Productive Business Solutions lost 5 cents to close at US$1.50 in an exchange of 3 stocks. Proven Investments dropped 0.94 of a cent to end at 20 US cents in trading 121,911 stock units, Sterling Investments declined 0.13 of a cent to 1.86 US cents with an exchange of 583 stock units, Sygnus Credit Investments J$ share dipped 1.28 cents to end at 12 US cents after a transfer of 822 shares. Sygnus Credit Investments USD share remained at 9.5 US cents with the swapping of 284 units, Sygnus Real Estate Finance USD share ended at 9.5 US cents in switching ownership of 14,023 stocks and Transjamaican Highway lost 0.06 of a cent to end at 0.91 of one US cents after finishing trading of 1,481,029 shares.
In the preference segmentProductive Business 9.25% preference share remained at US$11 with investors transferring 86 stocks, Equityline Mortgage Investment preference share shed 3 cents to close at a 52 weeks’ low of US$1.64, with nine units crossing the market and JMMB Group 6% ended at US$1 in exchanging 20,150 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.