Trading ended on Monday on the Jamaica Stock Exchange US dollar market, with the volume of shares changing hands climbing 4,868 percent with a 366 percent higher value than on Friday, resulting in six securities trading, compared to eight on Friday with two rising and four ending unchanged.
The JSE US Denominated Equities Index fell 1.38 points to end at 225.17. The PE Ratio, a measure used in computing appropriate stock values, averages 9.6. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending up to the end of August 2023.
A total of 645,181 shares traded for US$14,754 compared to 12,986 units at US$3,165 on Friday.
Trading on Monday averaged 107,530 units at US$2,459, compared to 1,623 shares at US$396 on Friday. April ended with an average of 95,379 units for US$3,929.
Investor’s Choice bid-offer indicator shows one stock ending with a bid higher than the last selling price and two with lower offers.
At the close, First Rock Capital USD share finished at 7.95 US cents while exchanging eight shares, Margaritaville ended unchanged at 16 US cents, with 66 stocks crossing the market, Proven Investments ended at 25.99 US cents after 26,010 units changing hands. Sygnus Credit Investments USD share increased 0.05 of a cent to end at 12.95 US cents in trading 14,537 stock units and Transjamaican Highway rose 0.03 of a cent to close at 1.02 US cents after an exchange of 604,558 units.
In the preference segment, JMMB Group 6% finished at US$1.10, trading two stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Slippage for JSEUSD market
Junior Market opens May on a high as Majors fall
The Junior Market opened trading in May with the market index surging to a record high of 4,523.62 points right out of the blocks at the market opening but closed down lower at 4,485.33, with a rise of 33.71 points, the highest close ever. Main market stocks finished down for the day with the JSE Combined Index slipping 1,394.00 points to close at 414,362.52.
The All Jamaican Composite Index fell 2,340.12 points to 456,834.16, the JSE Main Index fell 1,808.72 points to end at 400,049.66 and the JSE USD market index lost 1.38 points to 225.17.
Trading results in 48,359,764 shares trading in all markets. The value of stocks exchanged in the Main and Junior markets amounts to $478.4 million, with the JSE USD market amounting to US$14,754.
The market’s PE ratio ended at 25.9 based on 2021-22 earnings and 14.3 times those for 2022-23 at the close of the Jamaica Stock Exchange.
Investors need a series of measures and pertinent information to successfully navigate the many investment choices in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help with decision-making.
Investors should make use of the chart to help make rational investment decisions by investing in stocks that are close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to take emotions out of the investment decision and put in on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The ICInsider.com PE Ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.
Big gains for several ICTOP10 stocks
With just one third of 2022 elapsing, it is an excellent time to look at what the markets and ICInsider.com forecast have done. The Junior Market gained 29.85 percent to the end of April, or half of the entire year forecast of 60 percent, made at the start of the year and in the process, the market has surpassed the 29.7 percent gains it achieved in 2021 for the entire year.
The Main Market that ICInsider.com forecast to deliver a 14 percent rise for the year struggles to break from consolidation so far, with a rise of just 4.8 for the four months to April and is consistent with a 14 percent increase for the year. It is quite likely that the market PE could climb closer to a PE of 18, which will push the annual gains to around 30 percent if the financial stocks show good increases in profit for the year. That is a very likely situation as the hike in interest rates is driving net interest income sharply upwards.
At the beginning of the year, ICInsider.com stated, “the market is technically at a support level that is steering the index upwards. More importantly, it is caught in a triangular formation setting to push the market sharply upwards once it breaks out, which is not far off. The market is trading in a channel that goes back to May 2020, pointing to a record high of over 4,000 points in a few months.” So far, the above forecast is spot on.
In addition to the Top15 selection for each market at the start of the year, we added a few stocks. There were nine winning stocks with good gains. The list includes AMG Packaging 73 percent, Dolphin Cove 47 percent, Elite up 26 percent, Everything Fresh 83 percent, iCreate 263 percent, Jetcon 75 percent, Spur Tree Spices 215 percent, Stationery and Office Supplies 46 percent and Tropical Batteries up 124 percent for the year to date and up 64 percent since ICInsider.com added it was added to the TOP10 on February 25. Caribbean Cream, down 7 percent, is the only Junior Market stock selection to fall.
The big TOP15 winners for the Main Market are Caribbean Producers, up 42 percent, Jamaica Stock Exchange at 22 percent, JMMB Group at 16 percent and Proven at 14 percent. Berger Paints, down 7 percent, Jamaica Broilers, with a fall of 3 percent and Scotia Group, down one percent, are the only losers in this segment.
For the week, the only new listing to TOP10 is tTech replacing Jetcon, that held on to a gain of 16 percent to top the ICTOP10 Junior Market movers and dropped out of the TOP10, followed by Medical Disposables with 14 percent after a block of shares that was overhanging the market was taken out by buyers. AMG Packaging rose 9 percent, Caribbean Cream rose 6 percent and Caribbean Assurance Brokers shed 9 percent.
In the Main Market, Sygnus Credit Investments rose 8 percent to end at $16.48 and Caribbean Cement gained 6 percent to close at $75.18.
The average PE for the JSE Main Market TOP 10 ends the week at 6.2, well below the market average of 15, while the Junior Market PE for the Top 10 sits at 6.1 versus the market at 14.2. The Junior Market TOP10 is projected to gain an average of 239 percent to May 2023 and the Main Market 197 percent.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2023. They are ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
JSE USD Market ends April up
At the close, First Rock Capital USD share gained 0.05 of a cent to 7.95 US cents in switching ownership of 2,484 shares, Margaritaville closed at 16 US cents after 133 units were traded, MPC Caribbean Clean Energy remained at US$1.26, with two stock units crossing the market. Productive Business Solutions traded 17 stocks at US$1.19, Proven Investments popped 1.68 cents to 25.99 US cents with 5,357 shares changing hands, Sygnus Credit Investments USD share ended at 12.9 US cents in an exchange of 27 stock units and Sygnus Real Estate Finance USD share increased 0.89 of a cent to close at 14.69 US cents with an exchange of 4,150 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market closes April on a high, Majors inched higher
The Junior Market made another solid move on Friday to close out April on a high, after gaining 42.27 points to end the week and month at a new record close of 4,451.62, after hitting a record high for the day of 4,462.92, within 18 minutes of the market’s opening. The Main Market had more gains and the JSE USD market rose at the close. The JSE Combined Index added 608.23 points to close at 415,756.52.
The All Jamaican Composite Index added 608.23 points to settle at 459,174.28, the JSE Main Index rose 658.05 points to end at 401,858.38 and the JSE USD market index rose points just 1.35 points to 226.55.
Trading ended with 26,082,950 shares changing hands in all markets. The value of stocks exchanged in the Main and Junior markets amounts to $462.4 million and the JSE USD market traded US$3,165.
The market’s PE ratio ended at 25.5 based on 2021-22 earnings and 14.1 times those for 2022-23 at the close of the Jamaica Stock Exchange.
Investors need a series of measures and pertinent information to successfully navigate the many investment choices in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational investment decisions by investing in stocks that are close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to take emotions out of the investment decision and put in on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The ICInsider.com PE Ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.
Falling stocks dominate trading Friday
Stocks fell across the market on the Trinidad and Tobago Stock Exchange on Friday, with nine declining and only one rising after 20 securities traded compared to 19 on Thursday and leaving ten unchanged after the volume of stocks trading jumped 160 percent with 159 percent higher consideration than on Thursday.
The Composite Index dipped 2.31 points to 1,436.14, the All T&T Index fell 4.07 points to close at 2,072.66 and the Cross-Listed Index lost 0.06 points to settle at 105.73.
A total of 1,350,647 shares traded for $13,815,569 compared to 518,869 units at $5,342,898 on Thursday. An average of 67,532 units traded at $690,778 compared to 27,309 shares at $281,205 on Thursday, with trading month to date averaging 43,127 units at $458,896 versus 41,708 units at $445,414. The average trade for March amounts to 36,197 units at $438,630.
Investor’s Choice bid-offer indicator shows one stock ended with the closing bid higher than the last selling price and one with a lower offer.
At the close, Agostini’s lost 51 cents in closing at $47, with 502 shares changing hands, Angostura Holdings dropped 5 cents to end at $22.95, with 85 stocks clearing the market, Ansa Merchant Bank ended unchanged at $45 with the swapping of 40 units. Clico Investment Fund remained at $29.75 in exchanging 67,387 stock units, First Citizens Group declined 9 cents to $52.01 in switching ownership of 1,701 shares, GraceKennedy finished at $6 while exchanging 938,856 stock units. Guardian Holdings rallied $2.19 to close at $28.30, with 50,939 units crossing the market, Guardian Media remained at $3.20 in an exchange of just one stock unit, JMMB Group ended unchanged at $2.54 after exchanging 7,947 stocks. L.J. Williams B share fell 20 cents to $1.77 after an exchange of 10,000 units, Massy Holdings shed 11 cents to end at $5.10 after trading 109,063 shares, National Enterprises finished at $2.95 after 300 stock units changed hands. NCB Financial Group fell 5 cents to $6.05 after 53,039 units crossed the market, Prestige Holdings remained at $7.10 in trading 1,350 stocks, Republic Financial Holdings declined $1 in closing at $140 with 3,091 stock units changing hands. Scotiabank finished at $81, trading 25,911 shares, Trinidad & Tobago NGL dropped 3 cents to $20.57 after exchanging 9,597 stock units, Trinidad Cement lost 8 cents to $3.88, with 25,000 shares changing hands. Unilever Caribbean ended unchanged at $16.15 after trading 25,838 stocks and West Indian Tobacco finished at $23.85 in trading 20,000 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.