Trading dips on the JSE USD market

Trading on Tuesday ended with the market rising moderately after trading 55 percent fewer shares than on Monday, at the close of the US dollar market of the Jamaica Stock Exchange, resulting in more stocks falling than rising.
Seven securities changed hands, compared to six on Monday, with one rising, three declining and three closing unchanged.
The JSE USD Equity Index gained 1.32 points to end at 209.97. The average PE Ratio based on ICInsider.com’s forecast of 2021-22 earnings closes at 12.7.
Overall, 155,664 shares traded for US$24,831 versus 345,477 units at US$9,126 on Monday.
Trading averaged 22,238 units at US$3,547, in contrast to 57,580 shares at US$1,521 on Monday. Trading month to date averaged 46,753 units at US$2,303 in contrast to 51,657 units at US$2,054 on Monday. March ended with an average of 68,746 units for US$13,137.
Investor’s Choice bid-offer indicator shows one stock ended with a higher bid than the last selling price and one with a lower offer.
At the close, First Rock Capital closed at 8.9 US cents trading 39,486 shares, Margaritaville ended at 9 US cents in exchanging 2,866 stock units, Proven Investments fell 0.1 of a cent to 25 US cents with the swapping of 44,630 units. Sterling Investments shed 0.22 of a cent to close at 2.07 US cents while exchanging 13,942 shares, Sygnus Credit Investments fell 0.99 of a cent to 14.01 US cents while exchanging 32,350 stock units and Transjamaican Highway rose 0.11 of a cent to 0.96 of a US cent after exchanging 20,020 stocks.
In the preference segment, JMMB Group 5.75% closed at US$2.05 after trading 2,370 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

JSE USD stocks mostly fall

Trading picked up with a 231 percent rise in the volume of shares on Monday than on Friday, on the US dollar market of the Jamaica Stock Exchange, resulting in more stocks falling than rising, but the market index still manages to squeeze out a narrow gain.
Trading ended with six securities changing hands, compared to five on Friday with prices of two stocks rising, four declining and none remaining unchanged.
The JSE USD Equity Index gained 1.25 points to end at 208.65. The average PE Ratio based on ICInsider.com’s forecast of 2021-22 earnings, ended at 12.7.
Overall, 345,477 shares traded, for US$9,126 compared to 104,433 units at US$1,085 on Friday.
Trading averaged 57,580 units at US$1,521, in contrast to 20,887 shares at US$217 on Friday. Trading month to date averages 51,657 units at US$2,054 versus 50,431 units at US$2,165 on Friday. March ended with an average of 68,746 units for US$13,137.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than the last selling price and one with a lower offer.
At the close, First Rock Capital gained 0.05 of a cent to close at 8.9 US cents in switching ownership of 839 shares, Margaritaville fell 1 cent to 9 US cents after trading 3,975 units, Proven Investments declined by 0.4 of a cent to end at 25.1 US cents, with 9,555 stock units changing hands. Sterling Investments lost 0.01 of a cent in ending at 2.29 US cents with an exchange of 2,348 units, Sygnus Credit Investments rose 0.05 of a cent to 15 US cents after trading 23,723 shares and Transjamaican Highway lost 0.1 of a cent in closing at 0.85 US cents after exchanging 305,037 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

IC TOP10 gaining from rising Junior Market

Trading in a week cut short by the Easter Monday public holiday and half a day on Friday saw the Junior Market continuing its bullish rise, to sit just a few points below the January 2020 close, but the Main Market continues to consolidate, sitting well below last April peak and even worse, the February level of over 500,000 points.

Caribbean Cream

The past week saw Caribbean Cream finally moved higher, with supplies of the stock drying up at lower levels and few stocks currently on offer, with investors anticipating positive news when the company releases full year results later this month or early in May. The stock dropped out of the Top 10 and now sits at the 11th spot and should have more juice to move much higher, but it will depend on results due in a few weeks’ time.
General Accident moved up to fill the spot left vacant by Caribbean Cream. The main market continues to trade in a narrow channel and shows no sign of a breakout. 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, NCB Financial, PanJam Investment and Sagior Group.
The top three stocks in the Junior Market at the end of the week are now Jetcon Corporation, followed by Main Event and Elite Diagnostic, with the potential to gain between 275 to 305 percent. The top three Main Market stocks remain unchanged, with Radio Jamaica in the number one spot, with the price moving from $1.48 last week to $1.61, followed by PanJam and VM Investments, with expected gains of 178 to 397 percent.
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 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, it’s Radio Jamaica and Berger Paints.
The targeted PE ratio 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 12.3 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 5.7 at just 47 percent of the market average, indicating strong gains ahead. The JSE Main Market ended the week with an overall PE of 15, some distance from the 19 the market ended March at. The Main Market TOP 10 trades at a PE of 7.4 or 50 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 251 percent and 181 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.

Majority of stocks fall on Friday

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Trading sank on the shortened trading session on Friday with 73 percent fewer shares changed hands than on Thursday, on the Jamaica Stock Exchange US dollar market, resulting in no stock recording gains and sending the market index into a decline for the day and for a shortened week.  

Trading ended with five securities changing hands, compared to seven on Thursday with no stock rising, four declining and one remaining unchanged.
The JSE USD Equity Index lost 3.45 points to end at 207.40. The average PE Ratio ends at 13 based on ICInsider.com’s forecast of 2021-22 earnings.
Overall, 104,433 shares traded at US$1,085 versus 387,195 units at US$8,455 on Thursday.
Trading averaged 20,887 units at US$217, in contrast to 55,314 shares at US$1,208 on Thursday. Trading for the month to date averaged 50,431 units at US$2,165 in contrast to 56,586 units at US$2,571 on Thursday. March ended with an average of 68,746 units for US$13,137.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, First Rock Capital dropped 0.05 of a cent in ending at 8.85 US cents, with 540 shares trading, Margaritaville fell 1 cent to 10 US cents while exchanging 28 units, Proven Investments remained at 25.5 US cents, with 291 stock units changing hands. Sygnus Credit Investments shed 0.05 of a cent to 14.95 US cents while exchanging 545 stock units and Transjamaican Highway dropped 0.02 of a cent to end at 0.95 of a US cent after 103,029 units changed hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Volume up index falls on JSE UD Market

Trading ended with the market declining after investors exchanged a huge increase of 350 percent more shares on Thursday than on Wednesday at the close of the Jamaica Stock Exchange US dollar market.
Seven securities traded, up from four on Wednesday, with three stocks rising, one declining and three remaining unchanged.
The JSE USD Equity Index lost 0.42 points to end at  210.85 points. The PE Ratio averages 13.1 based on ICInsider.com’s forecast of 2021-22 earnings.
The market closed with 387,195 shares trading for US$8,455 versus 86,122 units at US$17,581 on Wednesday. Trading averaged 55,314 shares at US$1,208, in contrast to 21,531 shares at US$4,395 on Wednesday. Trading month to date averaged 56,586 units at US$2,571 in contrast to 57,110 units at US$3,132 on Wednesday. Trading in March averaged 68,746 units for US$13,137.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, First Rock Capital settled at 8.9 US cents with an exchange of 5,489 shares,MPC Caribbean Clean Energy ended at US$1.10 with investors switching ownership of 230 stock units, Proven Investments rose half a cent to 25.5 US cents with 14,806 stock units changing hands. Sterling Investments gained 0.3 of a cent to settle at 2.3 US cents with 14,311 stock units traded, Sygnus Credit Investments declined by 0.72 of a cent to 15 US cents with a transfer of 2,351 units and Transjamaican Highway advanced 0.02 of a cent to end at 0.97 of one US cent, with 350,003 units crossing the exchange.
In the preference segment, Equityline Mortgage Investment closed at US$2 with 5 shares changing hands.

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

Rising USD market

Trading on Wednesday ended with the market rising after 88 percent fewer shares passed through the market than on Tuesday, on the Jamaica Stock Exchange US dollar market. 

Just four securities traded, down from six on Tuesday and ended with two stocks rising, one declining and one remaining unchanged. The JSE USD Equity Index rose 3.83 points to end at 211.27, up 13.4 percent for the year to date.
The average PE Ratio ended at 12.9 based on ICInsider.com’s forecast of 2021-22 earnings.
Investors exchanged 86,122 shares for US$17,581, down from 734,815 units at US$20,472 on Tuesday.
Trading averaged 21,531 units at US$4,395, down from 122,469 shares at US$3,412 on Tuesday. The average trade for the month to date amounts to 57,110 units for US$3,132 in contrast to 68,058 units at US$2,743 on Tuesday. Trading in March averaged 68,746 units at US$13,137.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than the last selling price and none with lower offers.
At the close, First Rock Capital settled at 8.9 US cents trading 24,550 shares, Proven Investments declined 0.5 of a cent to close at 25 US cents in exchanging 61,570 units, Sygnus Credit Investments rose 1.71 cents to 15.72 US cents in trading just one stock and Transjamaican Highway gained 0.13 of a cent to close at 0.95 of one US cent in clearing the market with one stock unit.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Trading climbs on JSE USD market

Trading ended on Tuesday with the market index slipping after 390 percent more shares changed hands than on Thursday on the US dollar market of the Jamaica Stock Exchange, resulting in an even number of stocks rising and falling.
Six securities traded, down from seven on Thursday, ending with prices of two rising, two declining and two remaining unchanged.
JSE USD Equity Index lost 2.83 points to end at 207.44. The average PE Ratio ends at 13.5 based on ICInsider.com’s forecast of 2020-21 earnings.
Investors exchanged 734,815 shares, for US$20,472 compared to 149,937 units at US$15,185 on Thursday.
Trading averaged 122,469 units at US$3,412, up from 21,420 shares at US$2,169 on Thursday. Trading averaged 68,058 units for the month to date at US$2,743. March ended with an average of 68,746 units for US$13,137.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than the last selling price and none with lower offers.
At the close, First Rock Capital rose 0.19 of a cent to end at 8.9 US cents trading 29,292 stock units, Margaritaville settled at 11 US cents, with 1,838 stocks crossing the market, Proven Investments gained 0.05 of one cent to end at 25.5 US cents after trading 5,295 shares. Sterling Investments closed at 2 US cents, with 134,493 units changing hands, Sygnus Credit Investments declined 0.98 of a cent to 14.01 US cents in switching ownership of 63,828 stocks and Transjamaican Highway shed 0.12 of a cent to end at 0.82 US cents after exchanging 500,069 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Rising Junior Market shifts IC TOP10

Stationery and Office Supplies (SOS) jumped to the top spot in the Junior Market IC TOP10 this week, with the price falling to $4.78 while PanJam Investment slid into the number two spot for the Main Market, but Radio Jamaica still remains in the number one position.
The top three stocks in the Junior Market are now SOS, followed by Elite Diagnostic Main Event and Jetcon Corporation. The top three Main Market stocks are Radio Jamaica, followed by PanJam and VM Investments.  The top three junior Market stocks have the potential to gain between 295 to 318 percent and those in the main market with expected gains of 173 to 452 percent.
TOP 10 stocks had a few changes during the past week, with Berger Paints back in the Main Market TOP10, replacing Sterling Investments that entered the list last week, while for the Junior Market, Caribbean Assurance Brokers returns to the TOP 10 as General Accident moved out.
The Junior Market TOP10 contains several companies that suffered a sharp reversal of fortunes in 2020, with recovery projected in 2021. Green shoots are visible for some, with sales picking up in recent quarters and improving profit.
Some of these companies may require another quarter or two of improvement before meaningful buying starts. Main Event, Caribbean Producers, Knutsford Express, Express Catering and Stationery and Office Supplies are some of the companies that are in this category.
The Main Market has JMMB Group, Jamaica Broilers, Sygnus Credit Investments and Grace Kennedy that are currently in the TOP10 Main Market listing and Caribbean Cement that is just outside.
The Junior Market and the Main Market continue to get support from technical indicators that point to robust gains ahead. To benefit from the growth to come, many investors will need to be on board at an early stage.
This week’s focus: Future Energy Source Company Initial Public Offer of 500 million shares, that ICInsider.com indicated last week should be snapped up quickly by investors, with the company having long-term prospects for strong growth, did just that. NCB Capital Markets, the brokers for the issue, reported on Thursday that the issue, priced at 80 cents per share and opened on Wednesday, closed on Thursday after another Junior Market IPO issue was oversubscribed. The successful closure of the issue will see the number of listed companies rising to 42 from the current 41.
The targeted PE ratio averages 20 based on profits of companies reporting full year’s results, up to the second quarter of 2022. Fiscal 2020-21 ended at 17.2 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, there is the likelihood for the average PE ratios to climb higher during the next twelve months.
The Junior and Main markets are currently trading well below the market average, indicating strong gains ahead. The JSE Main Market ended the week, with an overall PE of 14.7 and the Junior Market 9.8, based on ICInsider.com’s projected 2021-22 earnings. The PE ratio for the Junior Market Top 10 stocks average a mere 5.4 at just 55 percent of the market average. The Main Market TOP 10 trades at a PE of 7.4 or 50 percent of the PE of that market.
The average projected gain for the Junior Market IC TOP 10 stocks is 274 percent and 186 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.

JSE USD stocks post 13% gain for 2021

Trading ended with the volume of stocks trading jumping 265 percent on Thursday over Wednesday’s level, leading the JSE USD Equity Index in gaining 5.87 points to end 210.27, to be up 12.9 percent for the year to date, at the close of the Jamaica Stock Exchange US dollar market, on the first day of the new quarter, ahead of the Easter break.
Seven securities changing hands, compared to five on Wednesday, with prices of four rising, one declining and two remaining unchanged. The average PE Ratio ends at 13.8 based on ICInsider.com’s forecast of 2020-21 earnings.
Traders exchanged 149,937 shares for US$15,185, up from 41,079 units at US$7,818 on Wednesday. Trading averaged 21,420 units at US$2,169, versus 8,216 shares at US$1,564 on Wednesday. March averaged 68,746 units for US$13,137. 
Investor’s Choice bid-offer indicator shows no stocks ended with bids higher than their last selling prices nor with lower offers.
At the close, First Rock Capital fell 0.19 of a cent to 8.71 US cents with an exchange of 8,700 shares, Margaritaville settled at 11 US cents trading 11,200 stock units, Proven Investments climbed 1.44 cents to 25.45 US cents with an exchange of 21,353 shares. Sterling Investments rose 0.02 of a cent to 2 US cents in trading 81,196 shares, Sygnus Credit Investments carved out a gain of 0.98 of a cent in closing at 14.99 US cents and exchanging 25,100 units and Transjamaican Highway increased 0.06 of a cent in closing at 0.94 of a US cent, with 1,200 stock units changing hands.
In the preference segment, JMMB Group 5.75% traded 1,188 shares at US$2.05.

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

JSE USD market gains 10% for Q1

Trading on Wednesday closed with the JSE USD Equity Index rising 3.84 points to 204.40 and finished the first quarter of the year up 9.7 percent, after trading 88 percent fewer shares than on Tuesday, on the US dollar market of the Jamaica Stock Exchange.  
Five securities traded, compared to four on Tuesday, with the prices of two rising, two declining and one remaining unchanged.
The average PE Ratio ends at 13.5 based on ICInsider.com’s forecast of 2020-21 earnings.
Trading ended in an exchange of 41,079 shares, for US$7,818 compared to 351,011 units at US$4,986 on Tuesday.
Trading averaged 8,216 units at US$1,564, in contrast to 87,753 shares at US$1,246 on Tuesday. Trading averaged 68,746 units for the month to date at US$13,137 versus 71,289 units at US$13,623 on Tuesday. February ended with an average of 69,547 units for US$9,223.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and none with lower offers.
At the close, First Rock Capital increased 0.4 of a cent in closing at 8.9 US cents, with 231 units changing hands, Margaritaville rose by 1 cent to end at 11 US cents trading 600 stock units, Productive Business Solutions ended at US$1 in switching ownership of 212 stock units. Proven Investments shed 0.99 cents to end at 24.01 US cents while trading 17,855 units and Sygnus Credit Investments declined 0.79 of a cent to close at 14.01 US cents in exchanging 22,181 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.