Stocks pulled back this past week from the month end Induced rally of the prior week on the Jamaica Stock Exchange, resulting in two new additions to the ICTOP10 stock, with mostly declining stocks dominating the ICTOP10.
Coming into the Junior Market TOP10 are Paramount Trading, with the price dropping to an appealing $1.50 and Everything Fresh dipping to $1.55. Leaving the Junior Market TOP 10 are Dolphin Cove and Lasco Distributors with modest price changes for the week. There are no changes to the Main Market TOP10.
The Main Market closed the week with Caribbean Producers rising 4 percent to close at $10.24, but Guardian Holdings dropped 13 percent to close the week at $440, followed by a 6 percent fall in Key Insurance and Scotia Group to $2.31 and $32 respectively.
There were no gains of worth in the Junior Market but One on One Educational Services fell 12 percent to $1.01, Caribbean Assurance Brokers fell 6 percent to $3.19 and Caribbean Cream slipped 4 percent to $4.
At the end of the week, the average PE for the JSE Main Market TOP 10 stands at 4.9, well below the market average of 12.2. The Main Market TOP10 is projected to gain an average of 344 percent, by May 2024, based on 2023 forecasted earnings.
A total of 15 of the most highly valued stocks representing 23 percent of the Main Market are priced at a PE of 15 to 108, with an average of 32 and 21 excluding the highest PE ratios, and a PE of 23 for the top half and 16 excluding the stocks with overweight valuations.
The PE of the Junior Market Top 10 sits at 5.7 just half of the market at 10.9. There are 11 stocks or 23 percent of the market, with PEs from 15 to 37, averaging 20 that are well above the market’s average. The top half of the market has an average PE of 15, possibly the lowest fair value for Junior Market stocks currently and is projected to rise by 268 percent by May 2024.
The divergence between the average PE of the Main and Junior Markets and the overall market valuation are important indicators of the level of likely gains for ICTOP10 stocks.
ICTOP10 focuses on likely yearly winners. The lists include 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 2024 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.
Overall, 268,786 shares were traded, for US$4,988 compared to 252,693 units at US$10,412 on Tuesday.
At the close, First Rock Real Estate USD share climbed 0.12 of a cent to 4.2 US cents in an exchange of 5,383 shares, Sterling Investments dipped 0.05 of a cent to close at 1.7 US cents in an exchange of 8,900 units. Sygnus Credit Investments remained at 9.02 US cents in an exchange of 22 stocks, Sygnus Real Estate Finance USD share ended at 10 US cents after exchanging 990 stock units and Transjamaican Highway lost 0.1 of a cent and ended at 1.7 US cents after 253,491 shares passed through the market.
Overall, 252,693 shares were traded, for US$10,412 compared to 266,503 units at US$6,378 on Monday.
Sygnus Credit Investments remained at 9.02 US cents in trading 8,054 stocks, Sygnus Real Estate Finance USD share ended at 10 US cents with investors dealing in 208 shares and Transjamaican Highway skidded 0.03 of a cent to 1.8 US cents while exchanging 239,395 units.
Overall, 266,503 shares were traded for US$6,378 compared to 2,780,944 units at US$60,312 on Friday.
MPC Caribbean Clean Energy remained at 54 US cents with an exchange of 915 stock units. Proven Investments gained 0.15 of a cent to close at 13.9 US cents in trading 106 stocks, Sygnus Credit Investments ended at 9.02 US cents with 5,465 units crossing the market and Transjamaican Highway rose 0.04 of a cent in closing at 1.83 US cents after 230,017 stock units passed through the market.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 4.9, well below the market average of 12.4. The Main Market TOP10 is projected to gain an average of 330 percent, by May 2024, based on 2023 forecasted earnings.
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.
A total of 2,780,944 shares were traded at US$60,312 compared with 1,133,465 units at US$157,008 on Thursday.
Productive Business Solutions dipped 3 cents to end at US$1.97 with investors trading 2,019 stocks. Proven Investments slipped 0.75 of a cent to 13.75 US cents after 45,262 units crossed the exchange, Sygnus Credit Investments ended at 9.02 US cents with a transfer of 8,499 shares and Transjamaican Highway popped up by 0.05 of a cent to end at 1.79 US cents with investors trading 2,699,164 units.
Sterling Investments shed 0.2 of a cent in closing at 1.7 US cents after an exchange of 11,587 stocks, Sygnus Credit Investments declined 0.05 of a cent to 9.02 US cents after 19,641 stock units were traded, Transjamaican Highway rose 0.08 of a cent in closing at 1.7 US cents with stakeholders exchanging 892,489 units.
Overall, 401,339 shares were traded, for US$48,561 compared to 175,984 units at US$39,421 on Monday.
Proven Investments advanced 0.5 of a cent to 14 US cents with an exchange of 325,066 units. Sterling Investments remained at 1.9 US cents with investors dealing in 5,408 stocks, Sygnus Credit Investments ended at 9.07 US cents in switching ownership of 90 stock units, Sygnus Real Estate Finance USD share remained at 10 US cents after 81 units crossed the exchange and Transjamaican Highway dipped 0.07 of a cent to end at 1.62 US cents with traders dealing in 60,714 stocks.
, 175,984 shares were traded, for US$39,421 compared to 580,017 units at US$10,197 on Friday.
Proven Investments dipped 1 cent to 13.5 US cents in trading 160,775 stocks Sterling Investments shed 0.02 of a cent in closing at 1.9 US cents after investors traded 1,729 stock units, Sygnus Credit Investments ended at 9.07 US cents, with 1,276 units crossing the exchange, Sygnus Real Estate Finance USD share ended at 10 US cents with an exchange of 974 stock units and Transjamaican Highway remained at 1.69 US cents with shareholders swapping 937 stocks.
The Main Market had just two stocks with notable price changes this past week, with 
The PE of the Junior Market Top 10 sits at 5.2 just half of the market at 10.4. There are 10 stocks or 26 percent of the market, with PEs from 15 to 29, averaging 19 that are well above the market’s average. The top half of the market has an average PE of 15, possibly the lowest fair value for Junior Market stocks currently, and projected to rise by 288 percent to May 2024.
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.
