Thirty Jamaica Stock Exchange Junior Market stocks fell in trading on Tuesday, with the volume of stocks traded declining 26 percent and the value falling 37 percent from Monday trades as 41 stocks traded compared to 43 on Monday and ended with six rising while five closed unchanged.
At the close, the Junior Market Index dropped 91.49 points to settle at 3,947.12 after falling 129.55 points on Monday and taking back to just below where it closed on February 7 but only after opening trading at 4,101.41 or an increase of 62.80 points.
The PE Ratio, a measure used to compute appropriate stock values, averages 18.2. The PE ratio of each stock in the chart below is based on ICInsider.com earnings forecast for companies with financial years, up to August 2022.
A total of 17,265,483 shares traded for $71,846,641 down from 23,386,245 units at $113,928,631 on the Monday. Future Energy Source led trading with 5.69 million shares for 33 percent of total volume followed by Tropical Battery with 4.24 million units for 24.6 percent of the day’s trade, Lumber Depot, 1.53 million units for 8.9 percent market share Spur Tree Spices ended with 1.27 million units changing hands with 7.3 percent market share after the price ended at a 52 week’s closing high of $4.17 and an intraday high of $4.49.
Trading averaged 421,109 shares at $1,752,357 against 543,866 shares at $2,649,503 on Monday and month to date, averaging 576,744 units at $2,957,020, compared to 615,184 units at $3,254,557 on the preceding day. February closed with an average of 370,064 units at $1,402,517.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and none with a lower offer.
At the close, AMG Packaging fell 11 cents to $3.08, with 40,712 shares crossing the market, Cargo Handlers climbed 32 cents ending at a 52 weeks’ closing high of $9.10 with an exchange of 93,674 stocks, Caribbean Assurance Brokers lost 32 cents in closing at $2.17 with the swapping of 449,141 units. Caribbean Cream fell 58 cents to close at $4.67 in exchanging 21,323 stock units, Derrimon Trading dropped 39 cents to end at $2.50 with 773,805 shares changing hands, Dolphin Cove shed $2.15 to close at $22.35 in trading 164,452 stocks. Express Catering fell 20 cents to $5.05 after 68,769 stock units crossed the market, Fontana dropped 26 cents to end at $9.62, with 127,490 units changing hands, Fosrich dropped $2.10 in closing at $15 while exchanging 26,073 units. Future Energy Source shed $1 in ending at $5.50 with an exchange of 5,690,194 stocks, General Accident declined 10 cents to close at $6.10 with 24,395 shares clearing the market, Honey Bun declined 20 cents to $8.70 after exchanging 73,071 stock units. Iron Rock Insurance shed 31 cents in closing at $3.10 after trading 2 units, Knutsford Express dipped 10 cents to $7.90 in switching ownership of 110 stock units, Lasco Distributors fell 17 cents to $3.38 after trading 39,863 shares. Lasco Manufacturing lost 16 cents to close at $4.29 in trading 220,198 stocks, Limners and Bards declined 10 cents in closing at $3.60 in an exchange of 121,754 stock units, Lumber Depot shed 20 cents to end at $3.90, with 1,531,194 stocks crossing the market. Mailpac Group rose 11 cents to $2.96 in an exchange of 619,295 shares, Main Event fell 49 cents after ending at $6.71 in exchanging 13,526 units, Medical Disposables dropped 24 cents ending at $6.05 after an exchange of 52,600 units. Stationery and Office Supplies lost 15 cents to end at $7.20 while exchanging 4,393 shares and Tropical Battery declined 41 cents to end at $2 with an exchange of 4,242,465 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Sharp drop in value of stocks traded in Trinidad
Market activity ended on Tuesday after 96 percent fewer shares, with 81 percent less value traded than on Monday on the Trinidad and Tobago Stock Exchange, resulting in just over four stocks falling to each rising at the close of trading.
A total of 21 securities traded up sharply from 15 on Monday, with two rising, nine declining and 10 ended unchanged as the Composite Index shed 2.26 points to 1,474.61, the All T&T Index dipped 2.88 points to 2,091.68 and the Cross-Listed Index shed 0.23 points to settle at 114.12.
A total of 93,524 shares traded for $2,387,292, down from 2,218,175 units at $12,348,774 on Monday. An average of 4,454 units traded at $113,681 versus 147,878 shares at $823,252 on Monday, Trading month to date averaged 35,424 units at $415,018 compared to 43,657 units at $495,121. The average trade for February amounts to 47,858 units at $516,870.
Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Agostini’s remained at $50 in exchange of 500 shares, Angostura Holdings shed 20 cents to $19.80 after the trading of 1,017 units, Ansa McAl closed at $57 in an exchange of 3,584 stock units. Calypso Macro Investment Fund dropped 1 cent to close at $17.05, with 120 stocks crossing the market, Clico Investment Fund ended unchanged at $30.47 with an exchange of 20,005 stocks, First Citizens Group finished at $60, with 3,865 stock units changing hands. GraceKennedy ended unchanged at $6 in trading 6,565 shares, Guardian Holdings lost 21 cents in ending at $29.54, with 37 units clearing the market, Guardian Media remained at $3.04, with 1,804 shares crossing the exchange. JMMB Group declined 3 cents in closing at $2.27 after trading 12,030 stocks, Massy Holdings ended at $106 with an exchange of 4,177 stock units, National Enterprises fell 1 cent in closing at $3.09 in switching ownership of 510 units. National Flour Mills finished at $1.95 with the swapping of 5,143 stocks, NCB Financial Group dropped 15 cents to end at a 52 weeks’ low of $7, with 5,728 shares changing hands, Prestige Holdings remained at $7.10 in exchanging 1 stock unit. Republic Financial Holdings fell 1 cent to $140 while exchanging 1,154 units, Scotiabank declined $1 to close at $75 after exchanging 701 units, Trinidad & Tobago NGL lost 50 cents to finish at $20.50, with 16,231 stock units crossing the market. Trinidad Cement advanced 5 cents in closing at $3.75 after exchanging 3,100 shares, Unilever Caribbean finished at $15.50 in exchanging 1,011 stocks and West Indian Tobacco rose 70 cents in closing at $24.70 with the swapping of 6,241 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market plunges 221 points in 2 days
Several stocks in the Junior Market that reached astronomical levels last week suffered a sharp reversal with the market index dropping 129.55 points on Monday followed by 91.49 points and Tuesday to settle at 3,947.12 as some of the recent highflying stocks suffered sharp retreat.
Jamaica Stock Exchange Main Market stocks maintained their consolidation posture. The Combined Index rose 652.77 points to 399,751.21, the All Jamaican Composite Index popped 814.75 points to 441,536.97 the JSE Main Index rallied 1,556.37 points to settle at 389,546.85
The market’s PE ratio ended at 17.1 based on 2021-22 earnings and 10.8 times those for 2022-23 at the close of market activity on 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 along with 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. 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. 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.
The ICInsider.com PE Ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange and shows companies grouped on an industry basis, allowing for easy comparisons between same sector companies as well as the overall market.
The net asset value of each company is reported as a guide to easily assess the value of stocks based on this measure. 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 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.
JSE USD Market slips on Monday
Trading on Monday ended with the volume of shares changing hands rising 396 percent, with a 33 percent higher than on Friday, at the close of the Jamaica Stock Exchange US dollar market, resulting in more stocks falling than rising on a four to one ratio.
A total of six securities traded compared to seven on Friday with one rising, four declining and one ending unchanged. The JSE US Denominated Equities Index slipped 3.58 points to 205.10.
The PE Ratio, a measure used in computing appropriate stock values, averages 14.1. The PE ratio computations are based on ICInsider.com earnings forecasts for companies with financial years, up to August 2022.
Overall, 972,142 shares traded, for US$72,478 up from 195,986 units at US$54,608 on Friday. Trading averaged 162,024 units at US$12,080 compared to 27,998 shares at US$7,801 on Friday and month to date an average of 54,199 shares at US$5,910 versus 28,321 units at US$4,429 on the preceding trading day. February ended with an average of 87,719 units for US$9,318.
Investor’s Choice bid-offer indicator shows no stock ended with a bid higher than the last selling prices and two stocks with lower offers.
At the close, First Rock Capital USD share added 0.02 of a cent to close at 8 US cents, with 42,270 shares changing hands, Margaritaville declined 0.4 of a cent in closing at 17.6 US cents in switching ownership of 1,200 stocks, Proven Investments shed 0.95 of one cent to end at 24 US cents after exchanging 232,242 units. Sterling Investments lost 0.25 of a cent and ended at 2.05 US cents with an exchange of 294,860 stock units, Sygnus Credit Investments USD share finished at 12.99 US cents after 30,720 stocks crossed the market and Transjamaican Highway dropped 0.07 of a cent to 0.82 of one US cent in exchanging 370,850 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Juniors plunge 130 points, majors steady
Several Junior Market stocks that reached astronomical levels last week suffered sharp reversals on Monday, with trading in several stocks being halted in the early morning session and the market closed in sending the junior market index that surged last week to record intraday high of 4,185.95 and closed at 4,168.16, down sharply today slashed 129.55 points to closed at 4,038.61.
Jamaica Stock Exchange Main Market stocks maintained their consolidation posture, with the Combined Index falling 571.27 points to 399,098.44, the All Jamaican Composite Index gained 1,130.32 points to end at 440,722.22 and the JSE Main Index rallied 607.57 points to settle at 387,990.48. The market’s PE ratio ended at 17.5 based on 2021-22 earnings and 11 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 along with 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. 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. 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.
The ICInsider.com PE Ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange and shows companies grouped on an industry basis, allowing for easy comparisons between same sector companies as well as the overall market.
The net asset value of each company is reported as a guide to easily assess the value of stocks based on this measure. 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 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.
Trading activity jumps on Trinidad Exchange
Market activity jumped sharply on Monday, with 643 percent more shares trading, with 85 percent greater value than on Friday, on the Trinidad and Tobago Stock Exchange and ended with more stocks rising than falling at the close.
A total of 15 securities were traded compared to 13 on Friday, with seven stocks rising, three declining and five remaining unchanged as one stock closed at a 52 weeks’ high and one at a low. The Composite Index rallied 7.94 points to 1,476.87, the All T&T Index popped 1.42 points to 2,094.56 and the Cross-Listed Index rose 2.09 points to settle at 114.35.
A total of 2,218,175 shares traded for $12,348,774 up sharply from 298,579 units at $6,689,858 on Friday. An average of 147,878 units traded at $823,252 up from 22,968 shares at $514,604 on Friday, with trading month to date averaging 43,657 units at $495,121 versus 19,230 units at $418,215. The average trade for February amounts to 47,858 units at $516,870.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Ansa McAl declined 50 cents in closing at $57, with 1,050 shares, clearing the market, Calypso Macro Investment Fund climbed 15 cents to close at $17.06 after exchanging 117 stocks, First Citizens Group fell 25 cents ending at $60 after the swapping of 2,228 stock units. GraceKennedy increased 30 cents to $6 in trading 1,216,754 units, Guardian Holdings rallied $1.25 to end at $29.75 while exchanging 1,602 units, JMMB Group inched 1 cent to $2.30 in an exchange of 919,856 stocks. Massy Holdings remained at $106 trading 14,952 stock units, National Enterprises ended unchanged at $3.10 in exchanging 7,060 shares, NCB Financial Group gained 15 cents to close at $7.15, with 2,782 units crossing the exchange. Prestige Holdings ended at $7.10 with the swapping of 27 shares, Scotiabank rose $1 to a 52 weeks’ high of $76 in switching ownership of 6 stocks, Trinidad & Tobago NGL popped 14 cents in closing at $21 after 8,248 stock units changed hands. Trinidad Cement remained at $3.70 with an exchange of 6,628 shares, Unilever Caribbean finished at $15.50, with 2,298 stocks crossing the market and West Indian Tobacco lost 60 cents in ending at a 52 weeks’ low of $24 trading 34,567 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Tropical drops ICTOP10 with 32% rise
Last week Tropical Battery surged right to the top of the ICTOP10 Junior Market listing with the company seems poised to earn $280 million for the current year, with earnings per share of 22 cents. Investors who pounced on the stock immediately after the release of the first quarter results before the price pulled, drive the price up in the holiday shortened week to close with a 32 percent gain at $2.30.
In a week when the Junior Market came back to life to close at a new record high on Friday, following a new record on Thursday, the market index closed on Friday over the 4,100 mark for the first time and ended at 4,168.16, with a 21.6 percent gain for the year to date. At the same time, the Main Market continues to consolidate around the 440,000 points level, on the All Jamaica Composite Index.
The EduFocal initial public offer to raise $130 million at $1 per share, opened and closed on Thursday morning, ICInsider.com was informed that preliminary data suggests that the offer attracted around twice the amount on offer, resulting in the early closure. Elsewhere, the Jamaica Stock Exchange is enjoying robust business in 2022 over 2021, which should deliver a big bump in revenues and profit for 2022 should the trend holds, accordingly, ICInsider.com now puts 2022 earnings for the first quarter above the 2021 full year’s earnings of 71 cents, with a possible $3 per share for the full year. Watch this one.
In TOP10 developments this week, returning to the Junior Market are Cargo Handlers with the price holding at $8.99 and Medical Disposables after the price slipped from $7.27 to $6.60 this week. Dropping out of the TOP10 this week are Caribbean Assurance Brokers with the price falling 23 percent to $2.50 as investors dumped the shares after the company reported a 47 percent increase in profit to 21 cents per share, but vastly down on the 33 cents per share reported in the nine months to September. The Main Market had three changes, with Caribbean Producers and Carreras returning to the Top10 to be joined for the first time by Transjamaican Highway and out goes Berger Paints, Jamaica Broilers and Sagicor Group.
During the week, the Junior Market TOP10 listed AMG Packaging fell 8 percent to $3.14 and in the Main Market, Proven Investments rose 9 percent followed by Berger Paints 6 percent and a 4 percent fall for Jamaica Broilers, but Guardian Holdings and Sagicor Group fell 5 percent
The Junior Market potential gains for the TOP 10 Junior Market stocks moved from 113 percent to 105 percent much lower than the Main Market at 124 percent. The top three stocks in the Junior Market are Elite Diagnostic followed by AMG Packaging and Lasco Distributors to gain between 121 and 126 percent, compared to 120 and 153 percent, previously.
The potential gains for Main Market stocks moved from 125 percent last week to this weeks’ 124 percent, with the top three being Guardian Holdings followed by JMMB Group and Sygnus Credit Investments all projected to gain between 161 and 193 percent versus 161 and 180 percent last week.
The average PE for Junior Market has surpassed the average of 17 times 2020 earnings achieved at the end of March last year in moving to 19.2 based on ICInsider.com’s 2021-22 earnings and is ahead of the JSE Main Market at 16.1. The TOP 10 stocks trade at a PE of a mere 9.8, with a 49 percent discount to that market’s average.
All the stocks in the Junior Market can gain just 4 percent to the end of March this year, based on an average PE of 20. About a third of Junior Market stocks with positive earnings are trading at or above this level, averaging around 23.
The average PE for the JSE Main Market is 16.1 just 18 percent less than the PE of 19 at the end of March and 24 percent below the target of 20 to the end of March this year. The Main Market TOP 10 average PE is 9.2 representing a 43 percent discount to the market, well below the potential of 20. Around 15 stocks or a thirty percent of the market trade at or above a PE of 19, with most over 20, for an average roundabout 25, suggesting that the accepted multiple is between 20 and 25 times the current year’s earnings. The depressed PE of the main market may be indicating that bigger investors are reluctant to be aggressive in buying into the market currently with inflation, rising interest rates and war populating the headlines.
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 March 2022 and 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 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.