In trading on the Jamaica Stock Exchange Junior Market on Tuesday, newly listed EduFocal moved from its IPO price of $1 to close at $1.32 on the first day of trading, while JFP Limited continued from its opening price on Monday to $1.68 at the close on Tuesday and helped maintained the volume of stocks and the value traded moderately above that on Monday.
Market activity led to 43 securities trading compared to 42 on Monday and ended with 14 rising, 18 declining and 11 closing unchanged.At the close, the Junior Market Index shed 38.05 points to settle at 3,995.43.
The PE Ratio, the most used measure to compute stock values, averages 19.9. The PE ratios in the chart below are based on ICInsider.com earnings forecast for companies with financial years to August 2022.
Overall, 21,910,635 shares traded for $55,555,327 versus 19,487,231 units at $50,742,595 on the Monday. JFP Limited led trading with 13.15 million shares for 60 percent of total volume followed by Lumber Depot with 2.77 million units for 12.6 percent of the day’s trade, Jamaican Teas ended with 2.22 million units for 10.1 percent market share and Future Energy Source ended with 1.44 million units changing hands for 6.6 percent market share.
Trading averaged 509,550 shares at $1,291,984 compared to 463,982 shares at $1,208,157 on Monday and month to date, averaging 510,084 units at $2,249,855, compared to 510,146 units at $2,360,875 on the prior day. February closed with an average of 370,064 units at $1,402,517.
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, Access Financial dropped $1.51 in closing at $18 after 51,516 shares changed hands, AMG Packaging rose 20 cents to $3.20 while exchanging 3,180 stocks, Cargo Handlers fell $1.50 to end at $9.10, trading 12,219 stock units. Dolphin Cove declined $1.10 to close at $22.90, with 24,692 units crossing the market, EduFocal increased 32 cents to $1.32, with 9,662 shares clearing the market, Everything Fresh popped 11 cents to $1.21, with 366 stocks crossing the market. Express Catering lost 29 cents in closing at $4.88 in exchanging 4,100 units, Fontana advanced 27 cents to close at $9.78, with 14,711 stock units changing hands, Fosrich shed 48 cents to end at $17 with 10,057 units crossing the exchange. Honey Bun fell 20 cents to end at $8.90 after exchanging 2,447 stocks, Jamaican Teas dropped 33 cents to close at $3.17 with an exchange of 2,220,989 shares, JFP Limited rallied 37 cents in closing at $1.68 after exchanging 13,153,656 stock units. Lasco Distributors bounced 24 cents to $3.79 in switching ownership of 95,474 units, Lasco Financial declined 10 cents to $3.45 in an exchange of 12,500 shares, Lasco Manufacturing lost 17 cents to end at $4.33 trading 95,149 stock units. Lumber Depot shed 66 cents to close at $3.28 in trading 2,771,346 stocks, Main Event fell 20 cents to $6.90 with the swapping of 21,457 stocks and Paramount Trading shed 12 cents to $1.70 with 30,147 stock units. Changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trinidad stocks lose ground
Market activity ended on Tuesday and resulted in more stocks declining than rising at the close of trading, after 35 percent fewer shares traded, with 22 percent lower value than on Monday, on the Trinidad and Tobago Stock Exchange.
A total of 20 securities traded up from 19 on Monday, with seven rising, nine declining and four were unchanged. The Composite Index fell 2.73 points to 1,468.92, the All T&T Index shed 7.69 points to close at 2,130.59 and the Cross-Listed Index rose 0.36 points to settle at 106.55.
A total of 764,642 shares traded for $6,019,345 versus 1,173,748 units at $7,641,769 on Monday.
An average of 38,232 units traded at $300,967 down from 61,776 shares at $402,219 on Monday, with trading month to date averaging 36,909 units at $452,942 versus 36,753 units at $470,927. The average trade for February amounts to 47,858 units at $516,870.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and two stocks with lower offers.
At the close, Ansa McAl ended at $57 in an exchange of 1,245 shares, Calypso Macro Investment Fund fell 6 cents in closing at $17.06 while exchanging 1,243 units, Endeavour Holdings shed 25 cents to close at $7.75, with 7,500 stock units clearing the market. First Citizens Group dropped 91 cents to end at $58.99 in switching ownership of 2,828 stocks, FirstCaribbean International Bank finished at $6.08 in exchanging 59,365 units, GraceKennedy remained at $6 trading 19,390 stock units. Guardian Holdings declined 4 cents in closing at $29.50 with 5,239 shares changing hands, JMMB Group slipped 5 cents to $2.25 with an exchange of 61,682 stocks, L.J. Williams B share increased 15 cents to close at a 52 weeks’ high of $2.10 in trading 4,500 shares. Massy Holdings fell 1 cent to $6 trading 515,384 units, National Enterprises declined 3 cents to $2.92 after trading 1,600 stocks, National Flour Mills popped 1 cent to close at $1.85 after exchanging 15,146 stock units. NCB Financial Group rallied 49 cents to a 52 weeks’ low of $6.50, with 14,528 shares crossing the market, One Caribbean Media climbed 5 cents in closing at $4.20 after 2,391 units changed hands, Prestige Holdings gained 10 cents to end at $7.10 with the swapping of 3,501 stock units. Republic Financial Holdings shed $1 to close at $140, with 1,213 stocks changing hands, Scotiabank advanced $7 in closing at 52 weeks’ high of $81.99 after 6,024 stocks crossed the market, Trinidad & Tobago NGL rose 33 cents in ending at $20.85 with the swapping of 13,935 shares. Unilever Caribbean dropped 5 cents to end at $15.20 with an exchange of 1,000 stock units and West Indian Tobacco ended unchanged at $24 in switching ownership of 26,928 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Edufocal jumps 31% on first day trading on Junior Market
Shares of EduFocal were listed on the Jamaica Stock Exchange on Tuesday following the recent initial public offer of shares following the listing of JFP Limited on Monday. Edufocal hit the maximum of $1.32 for the day with a small number of shares trading, with nearly 33 million on the bid at the close, while JFP climbed to $1.68, up 68 percent from the IPO price of $1.
The Combined Index dived 3,528.93 points to 397,355.68, the All Jamaican Composite Index declined 4,236.02 points to 434,185.95, the JSE Main Index dropped 3,408.49 points to end at 386,530.80 while the Junior Market Index dropped 38.05 points to settle at 3,995.43.
The market’s PE ratio ended at 20.7 based on 2021-22 earnings and 12.8 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 jumps in the JSE USD market
Trading surged on Monday on the Jamaica Stock Exchange US dollar market with the volume of shares changing hands rising jumping761 percent with a 678 percent higher value than Friday and ending with the JSE US Denominated Equities Index slipping just 0.01 points to end at 206.48 at the close.
A total of eight securities traded, compared to eight on Friday with two rising, two declining and four ending unchanged.
The PE Ratio, a measure used in computing appropriate stock values averages 14.5. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years, up to August 2022.
Overall, 695,062 shares traded, for US$76,850 compared to 80,700 units at US$9,877 on Friday. Trading averaged 86,883 units at US$9,606, compared to 10,088 shares at US$1,235 on Friday with the month to date averaging 63,060 shares at US$5,592 versus 59,884 units at US$5,057 on the previous trading for US$9,318.
Investor’s Choice bid-offer indicator shows no stock ended with the bid higher than the last selling price and three stocks with lower offers.
At the close, First Rock Capital USD share gained 0.19 of one cent to close at 8.49 US cents, with122 shares crossing the market, Margaritaville ended unchanged at 17 US cents while exchanging 6,451 stock units, MPC Caribbean Clean Energy finished at US$1.26 with an exchange of just two units. Proven Investments popped 0.18 of a cent to end at 24 US cents in trading 172,777 stocks, Sterling Investments remained at 2 US cents after an exchange of 44,579 stock units, Sygnus Credit Investments USD share declined 0.02 of one cent to close at 12.95 US cents, with 241,970 units clearing the market. Transjamaican Highway shed 0.03 of a cent to end at 0.85 of a US cent after trading 229,159 stock units.
In the preference segment, JMMB Group 6% finished at US$1.10 in an exchange of a mere two shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JFP jumps 31% Massy drags down JSE Index
The recent initial publicly offered stock, JFP Limited listed on the Jamaica Stock Exchange on Monday and closed 31 percent higher than the issue price of $1, but the move up was just barely able to keep the junior market from falling at the close, with the Combined Index diving 10,223.74 points to 400,884.61 after Massy Holdings dropped in price.
The All Jamaican Composite Index declined a more moderate 1,713.39 points to settle at 438,421.97, JSE Main Index dropped 10,931.95 points to 389,939.30, while the Junior Market Index added just 2.59 points to end the week at 4032.48, after rising to 4,109 points shortly after the market opened.
The market’s PE ratio ended at 17.6 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.
Fall for Trinidad Stock Exchange
Market activity ended on Monday and resulted in more stocks rising than falling at the close of trading, after trading 181 percent more shares, with a 72 percent higher value than Friday, but ended with the market indices dropping at the close of the Trinidad and Tobago Stock Exchange.
A total of 19 securities traded compared to 16 on Friday, with four rising, three declining and 12 remaining unchanged. The Composite Index declined 15.38 points to 1,471.65, the All T&T Index fell 10.30 points to finish at 2,138.28 and the Cross-Listed Index dropped 2.91 points to settle at 106.19.
Overall, 1,173,748 shares traded for $7,642,164 compared to 417,451 units at $4,444,008 on Friday. An average of 61,776 units traded at $402,219 compared to 26,091 shares at $277,751 on Friday, with trading month to date averaging 36,753 units at $470,927 versus 33,583 units at $479,630 previously. The average trade for February amounts to 47,858 units at $516,870.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Agostini’s remained at $50 in switching ownership of 270 shares, CinemaOne finished at $3.95 in trading 100 stocks, Clico Investment Fund ended unchanged at $29 after exchanging 7,991 stock units. FirstCaribbean International Bank increased 3 cents to close at $6.08 with an exchange of 2,000 units, GraceKennedy ended at $6, with 62,423 units clearing the market, Guardian Holdings finished at $29.54 after trading 10,882 stocks. JMMB Group popped 5 cents to close at $2.30, with 155,425 shares changing hands, Massy Holdings dropped 94 cents after ending at $6.01 while exchanging 853,063 stock units, National Enterprises remained at $2.95, with 2,994 shares crossing the exchange. National Flour Mills remained at $1.84 trading 7,791 units, NCB Financial Group fell 44 cents to a 52 weeks’ low of $6.01 in exchanging 39,765 stock units, One Caribbean Media ended unchanged at $4.15, with 2,648 stocks crossing the market. Point Lisas closed at $3.50 in an exchange of 2,000 stock units, Prestige Holdings lost 10 cents after ending at $7 after 4,465 shares crossed the market, Republic Financial Holdings gained $1 to end at $141 exchanging 282 stocks. Scotiabank ended at $74.99 trading 60 units, Trinidad & Tobago NGL finished at $20.52 with the swapping of 3,836 stocks, Unilever Caribbean ended unchanged at $15.25 trading 8,500 shares and West Indian Tobacco advanced 65 cents after ending at $24, with 9,253 units crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Cargo Handlers exits ICTOP10 with 33% gain
Cargo Handlers returned to ICTOP10 listing last week and was another winner with gains of 33 percent, sufficient to move it out of the top flight Junior Market stocks. The stock joins a long list of high performance ICTOP10 stocks, including the 32 percent gain in Tropical Battery stock in the previous week.
Caribbean Assurance Brokers come back in the Junior Market list, while Sterling Investments makes it back to the Main Market listing at the expense of TransJamacian Highway after just one week, but investors should keep an eye for this one.
In a week when the Junior Market dropped 297 points in three days that pushed the index down to 3,871 points, it bounced on the last two days to close over 4,031, still 137 points from the record of 4,168.16, at the end of the previous week. Meanwhile, the Main Market continues to consolidate around support at 440,000 points measured by the All Jamaica Composite Index.
Recent IPOs JFP limited and EducFocal are set to list on Monday and Tuesday coming following the oversubscribed initial public offers.
During the past week, the Junior Market TOP10 listed Access Financial, Lasco Financial and Iron Rock Insurance gained 6 percent each while Medical Disposables fell 9 percent and Tropical Battery slipped 5 percent. In the Main Market, the primary movers are Guardian Holdings with a 4 percent gain, while JMMB Group fell 7 percent and Proven Investments declined by 5 percent.
The potential gains for the TOP 10 Junior Market stocks remained for a second week at 105 percent, much lower than the Main Market at 127 percent, an indication that the Main Market is undervalued. The top three stocks in the Junior Market are Medical Disposables followed by Elite Diagnostic and Lasco Distributors to gain between 122 and 133 percent, compared to 121 and 126 percent, previously.
The potential gains for Main Market stocks moved from 124 percent last week to this weeks’ 127 percent, with the top three being JMMB Group followed by Guardian Holdings and Sygnus Credit Investments all projected to gain between 168 and 193 percent versus 161 and 193 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 based on ICInsider.com’s 2021-22 earnings and is ahead of the JSE Main and USD Markets at 15.7 well off from 19 in 2021. The TOP 10 stocks trade at a PE of a mere 9, with a 48 percent discount to that market’s average.
All the stocks in the Junior Market can gain just 5 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 21 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 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 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.
Gains into the weekend for JSE USD stocks
More stocks gained than declined in trading on Friday, at the close of Jamaica Stock Exchange US dollar market, with the volume and value of shares changing hands declined by 85 percent from Thursday levels.
A total of eight securities traded, compared to seven on Thursday with four rising, two declining and two ending unchanged.
The JSE US Denominated Equities Index gained 1.02 points to end at 206.49.
The PE Ratio, a measure used in computing appropriate stock values, averages 14.5. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years, up to August 2022.
Overall, 80,700 shares traded, for US$9,877 in contrast to 530,161 units at US$65,425 on Thursday. Trading averaged 10,088 units at US$1,235, compared to 75,737 shares at US$9,346 on Thursday with month to date average of 59,884 shares at US$5,057 versus 67,545 units at US$5,645 on the preceding 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 price and two with a lower offer.
At the close, First Rock Capital USD share increased 0.35 of a cent in ending at 8.3 US cents 44,143 shares changing hands, Margaritaville advanced 1.1 cents to end at 17 US cents while exchanging 818 stock units, Productive Business Solutions popped 1 cent in closing at US$1.02, with 748 stocks crossing the market. Proven Investments dropped 0.18 of a cent to 23.82 US cents in trading 27 units, Sygnus Credit Investments USD share lost 0.02 of a cent to close at 12.97 US cents, with 31,193 shares clearing the market, Sygnus Real Estate Finance USD share finished at 16 US cents with an exchange of 58 units and Transjamaican Highway remained at 0.88 of a US cent and closed with 2,273 stock units changing hands.
In the preference segment, JMMB Group 6% climbed 10 cents to end at US$1.10 trading 1,440 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.