The volume of shares changing hands on Tuesday declined sharply by 89 percent, with an equivalent value as Monday’s as the Jamaica Stock Exchange US dollar market, with slightly more stocks rising than falling.
A total of seven securities traded, down from 11 on Monday, with four rising, three declining and none ending unchanged. The JSE US Denominated Equities Index rose 1.84 points to end at 207.82.
The PE Ratio, a measure used in computing appropriate stock values, averages 13.7. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years, up to August 2022.
Overall, 190,871 shares traded for US$27,641 versus 1,705,073 units at US$27,762 on Monday. Trading averaged 27,267 units at US$3,949, compared to 155,007 shares at US$2,524 on Monday. February ended with an average of 87,719 units for US$9,318.
Investor’s Choice bid-offer indicator shows no stock ending with the bid higher than the last selling price and four with lower offers.
At the close, First Rock Capital USD share popped 0.4 of a cent in ending at 8.4 US cents trading 4,789 shares, Margaritaville shed 2 cents to end at 18 US cents with 950 units changing hands, 
Proven Investments gained 0.97 of one cent in closing at 24.97 US cents, with 33,388 stocks clearing the market. Sterling Investments rallied 0.27 of a cent to close at 2.37 US cents after 5,059 stock units changed hands, Sygnus Credit Investments USD share declined 0.09 of a cent to 12.85 US cents with an exchange of 123,767 stock units, Sygnus Real Estate Finance USD share advanced 1.41 cents to 15.4 US cents in switching ownership of 19,088 shares and Transjamaican Highway lost 0.06 of a cent in closing at 0.89 of one US cent after exchanging 3,830 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Positive March start for JSE USD Market
Junior Market reclaims 4,000 mark
Trading closed on Tuesday, with the volume of stocks traded rising after trading 265 percent more and the value surging 493 percent higher than Monday with Future Energy Source trading 43 million shares with the price hitting a record $6.40 and valuing the trades at $267 at the close of the Jamaica Stock Exchange Junior Market.
Big Fesco trade pushed the price to a record high of $6.40.
All 43 securities traded up from 41 on Monday and ended with 20 rising, 12 declining and 11 closing unchanged. Trading ends with three stocks closing at 52 weeks’ high.
The Junior Market Index popped 32.82 points to end at 4,023.05.
The PE Ratio, a measure used in the computation of appropriate stock values, averages 18.3, with the average declining with new results coming to the market. PE ratios in the chart below are based on ICInsider.com earnings forecast for companies with financial years up to August 2022.
Overall, 51,846,941 shares traded for $294,976,122 up from 14,209,361 units at $49,761,855 on Monday. Future Energy Source led trading with 43.22 million shares in controlling 83.4 percent of total volume followed by Tropical Battery, 1.45 million units with 2.8 percent of the day’s trade and Derrimon Trading, 1.37 million units, with 2.7 percent market share and Spur Tree Spices, 1.16 million shares changing hands for 2.2 percent market share.
Trading ended with an average of 1,205,743 shares at $6,859,910 in up from 346,57 shares at $1,213,704 on Monday. February closed with an average of 370,064 units at $1,402,517.
The Investor’s Choice bid-offer indicator shows one stock ending with the bid higher than the last selling prices and three with lower offers.
At the close, AMG Packaging lost 20 cents to end at $3.20 with an exchange of 8,344 shares, Cargo Handlers rose 69 cents in closing at $8.79, with 44,172 stock units clearing the market, Express Catering declined 76 cents to $5.33 in trading 364,101 units, following release of the second quarter results. Fosrich climbed 10 cents to close at $14.30 after exchanging 69,209 stocks, Future Energy Source popped 60 cents ending at a record $6.40 while exchanging 43,215,296 stocks, General Accident increased 20 cents to $6.10, with 1,804 units crossing the market. Honey Bun rallied 30 cents to end at $9.30 with an exchange of 14,000 stock units, KLE Group advanced 25 cents to close at $2.45 after exchanging 16,103 shares, Knutsford Express gained 55 cents in closing at $8 and trading 200 units.
Lasco Manufacturing dropped 17 cents to $4.48 in an exchange of 38,353 stock units, Lumber Depot rallied 10 cents to close at $3.70 in switching ownership of 631,978 shares, Main Event climbed 97 cents in closing at a 52 weeks’ high of $7.47 with the swapping of 82,122 stocks. SSL Venture advanced 31 cents in ending at $1.71 with 1,500 stock units changing hands, Stationery and Office Supplies shed 10 cents to end at $7.40 after trading 10,788 units and tTech fell 28 cents to $4.01 after trading 100 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
More decline of TTSE Index
Stocks rising and declining shared the spoils at the end of trading on Tuesday on the Trinidad and Tobago Stock Exchange but those falling had more impact on the market and resulted in a decline in the market indices after trading accounted for 73 percent fewer shares, crossing the market, with 53 percent less value than Monday.
Just 17 securities traded down from 23 on Monday, with six rising, six declining and five remaining unchanged. The Composite Index dropped 7.92 points to 1,479.42, the All T&T Index lost 12.65 points to close at 2,091.39 and the Cross-Listed Index declined 0.40 points to settle at 115.57.
A total of 157,807 shares traded for $4,141,544 compared to 582,784 units at $8,852,140 on Monday. An average of 9,283 units traded on Tuesday at $243,620 compared to 25,338 shares at $384,876 on Monday. The average trade for February amounts to 47,858 units at $516,870.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and one stock with a lower offer.
At the close, Angostura Holdings increased 25 cents to end at $20, with 15,025 shares crossing the market, Ansa McAl remained at $57 in switching ownership of 740 stock units, Ansa Merchant Bank advanced 49 cents in closing at $41 after exchanging 3,686 units. Clico Investment Fund finished at $30.50 while exchanging 17,490 stocks, First Citizens Group dropped $2.25 to close at $60.25, with 556 shares clearing the market, FirstCaribbean International Bank shed 11 cents to end at $6.01 after 1,155 stocks changed hands. 
GraceKennedy fell 1 cent to $5.99 in trading 1,620 units, Guardian Holdings ended at $29.75 after an exchange of 975 stock units, JMMB Group lost 5 cents in closing at $2.25, with 58,935 shares changing hands. Massy Holdings rallied 2 cents to close at $106 after trading 23,779 units, National Enterprises remained at $3.24 in an exchange of 1,000 stock units, NCB Financial Group gained 5 cents to end at $7.30 after 100 stocks crossed the exchange. Scotiabank rose 25 cents in closing at $73.25 with an exchange of 1,895 units, Trinidad & Tobago NGL declined 50 cents to $21 with the swapping of 4,345 stocks, Trinidad Cement declined 5 cents to close at $3.70 after 23,588 stock units changed hands. Unilever Caribbean climbed 38 cents to $15.75 trading 623 shares and West Indian Tobacco finished at $25 after exchanging 2,295 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Jamaica Stock Exchange starts March with gains
Stocks closed trading on Tuesday on the Jamaica Stock Exchange, with the Combined Index rising 826.24 points to 402434.14, the All Jamaican Composite Index fell 30.08 points to 444,544.62, the JSE Main Index popped 573.54 points to settle at 391,696.74 and the Junior Market index rising 32.82 points to 4,023.05 after opening at 4,031.53 and climbing as high as 4,047.
The market’s PE ratio ended at 18.2 based on 2021-22 earnings and 11.8 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.
Rising stocks had upper hand Monday
Advancing stocks dominated market activity on the Jamaica Stock Exchange Main Market Monday with the volume of shares trading dropping 87 percent and the value 69 percent lower than on Friday as the All Jamaican Composite Index rallied 1,395.95 points to settle at 444,574.70, the JSE Main Index dropped 70.06 points to 391,123.20 and the JSE Financial Index rose 0.68 points to close at 95.65.
Trading ended with 59 securities compared to 56 on Friday, with 29 rising, 24 declining and six ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 16.6. The PE ratio for the JSE Main and USD Market closing quotes are based on ICInsider.com earnings forecasts for companies with financial years ending up to August 2022.
Overall, 14,925,719 shares were exchanged for $141,613,197 versus 114,219,281 units at $449,573,144 on Friday. Wigton Windfarm led trading with 43.1 percent of total volume with a transfer of 6.44 million shares followed by Sagicor Select Manufacturing & Distribution Fund with 13.1 percent for 1.96 million units and Transjamaican Highway, 8 percent after trading 1.19 million units.
Trading averages 252,978 units at $2,400,224, down from 2,039,630 shares at $8,028,092 on Friday and month to date, an average of 392,520 units at $3,199,976, compared to 400,144 units at $3,243,666 on the previous trading day. January closed with an average of 235,328 units at $2,397,571.
Investor’s Choice bid-offer indicator shows 18 stocks ending with bids higher than their last selling prices and two with lower offers.
At the close, Barita Investments gained 50 cents to close at $90.40 with 238,943 shares crossing the market, Caribbean Cement dipped $9.99 to $65.01 after exchanging 226,274 stocks, First Rock Capital rallied 70 cents in closing at $11.70 in trading 109 stock units. Guardian Holdings dropped $25.99 to $535.01 with the swapping of 1,142 units, Jamaica Producers gained 50 cents in ending at $22.90 with 12,635 stocks clearing the market, Jamaica Stock Exchange rose $1 to $17.95 in switching ownership of 60,675 shares. JMMB Group advanced $1.05 to $44.15 in transferring 388,876 stocks, Kingston Properties lost 50 cents in ending at $8.50 with 655 units changing hands, Kingston Wharves declined $1.80 in closing at $40.50 in switching ownership of 7,093 stock units. Margaritaville gained 50 cents to end at $28 in trading 184 shares, Mayberry Jamaican Equities fell 90 cents in closing at $7.60 with a transfer of 73,002 units, NCB Financial popped 50 cents to $124 after exchanging 109,385 stocks. Palace Amusement climbed $5 to end at $950 in trading 3 shares, PanJam Investment gained 50 cents to close at $66 with 26,598 stocks changing hands, Portland JSX declined $1.05 to $8.05 in switching ownership of 28,000 stock units. Proven Investments fell $1.49 in closing at $33.81 after crossing the exchange with 43,638 units, Sagicor Group rose 90 cents to end at $57.90 with the swapping of 261,869 stocks, Seprod declined $3 to $57 in exchanging 14,195 shares. 
Stanley Motta gained 44 cents in ending at $5.70 after trading 4,100 stocks, Sygnus Credit Investments shed 45 cents to end at $15.05 in an exchange of 64,511 stock units, Sygnus Real Estate Finance fell 80 cents to $16.20 with the swapping of 3,000 shares and Wisynco Group advanced $1.68 to $19.88 in switching ownership of 146,027 units.
In the preference segment, 138 Student Living preference share rallied 75 cents to end at $7.75 with 124 stocks crossing the market and Productive Business Solutions 9.75% preference shares popped $8 to $108 with the swapping of 8 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Gains for Junior Market
Jamaica Stock Exchange Junior Market trading closed on Monday, with the volume of stocks traded rising 61 percent with the value climbing 31 percent higher than on Friday, with the market rising with Derrimon Trading, Future Energy Source and Main Event surging to 52 weeks’ high of $2.73, $5.80 and $6.50 respectively.
Fesco traded at a record 5.80 on Monday
Market activity led to 41 securities trading compared to 39 on Friday and ended with 18 rising, 14 declining and nine, closing unchanged. At the close, the Junior Market Index rose 26.80 points to settle at 3,990.23.
The PE Ratio, a measure used to compute appropriate stock values, averages 20.2. 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.
Overall, 14,209,361 shares traded for $49,761,855 compared to 8,801,134 units at $37,926,339 on the Friday. Spur Tree Spices led trading with 3 million shares for 21.1 percent of total volume followed by Tropical Battery with 2.79 million units for 19.6 percent of the day’s trade and Lumber Depot with 2.43 million units for 17.1 percent market share, Derrimon Trading ended with 1.87 million units for 13.2 percent market share and Future Energy Source, 1.61 million units for 11.3 percent market share.
Trading averaged 346,570 shares at $1,213,704 in contrast to 225,670 shares at $972,470 on Friday and month to date, averaging 370,064 units at $1,402,517, compared to 371,276 units at $1,412,254 on Friday. January closed with an average of 319,395 units at $1,181,136.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Access Financial increased $1.08 in closing at $21.05 with an exchange of 6,629 shares, Blue Power climbed 44 cents to end at $3.69 after trading 311 stocks, Cargo Handlers fell 79 cents to $8.10, with 924 units changing hands. Caribbean Assurance Brokers fell 25 cents in ending at $3 after trading 42,773 stock units, Derrimon Trading rallied 24 cents to close at $2.73 in an exchange of 1,869,586 stocks, Dolphin Cove dropped 41 cents to close at $27.30 in trading 31,446 shares. Express Catering gained 19 cents to end at $6.09 in exchanging 332,799 stock units, Fontana fell 11 cents in closing at $11.39 with 262,578 units changing hands, Future Energy Source popped 75 cents ending at a record high of $5.80 with an exchange of 1,606,852 units. General Accident shed 37 cents to $5.90 with 1,850 stock units crossing the market, Honey Bun dropped 80 cents in ending at $9, with 81,561 shares clearing the market, Iron Rock Insurance rose 31 cents to $3.41 after exchanging 1,236 stocks.
Knutsford Express advanced 57 cents to $7.45 with the swapping of 28,178 stocks, Lasco Financial increased 20 cents to $3.50 in switching ownership of 107,500 units, Lumber Depot shed 20 cents in closing at $3.60 while exchanging 2,434,190 shares. Main Event advanced $1.20 in closing at $6.50 in exchanging 117,061 stock units, Paramount Trading lost 12 cents to close at $1.78 in 19,122 stock units crossing the market and Stationery and Office Supplies gained 10 cents in ending at $7.50 with an exchange of 8,225 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading volume jumps on JSE USD Market
The volume of shares changing hands on Monday jumped 283 percent more than on Friday with the value dropping 58 percent lower at the close of the Jamaica Stock Exchange US dollar market resulting in slightly more stocks rising than falling.
A total of 11 securities were traded, up from seven on Friday with four rising, three declining and four ended firm. The JSE US Denominated Equities Index lost 2.00 points to end at 205.98.
The PE Ratio, a measure used to compute appropriate stock values, averages 14.6. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years, up to August 2022.
Overall, 1,705,073 shares traded, for US$27,762 compared to 444,902 units at US$66,249 on Friday. Trading averaged 155,007 units at US$2,524, compared to 63,557 shares at US$9,464 on Friday and month to date an average of 87,719 shares at US$9,318 versus 82,196 units at US$9,876 on the prior trading day. January ended with an average of 91,572 units for US$7,142.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling prices and none with a lower offer.
At the close, First Rock Capital USD share gained 1 cent to end at 8 US cents, with 1,569 shares crossing the market, Margaritaville lost 1 cent after ending at 20 US cents, with 33 stocks, changing hands MPC Caribbean Clean Energy finished at US$1.26, with 2 units crossing the market. 
Productive Business Solutions fell 9 cents to close at US$1.01 after exchanging 27 stock units, Proven Investments climbed 0.97 of a cent in closing at 24 US cents after trading 54,252 stock units, Sterling Investments remained at 2.1 US cents after the swapping of 832 stocks. Sygnus Credit Investments USD share dropped 0.01 of a cent to 12.94 US cents after exchanging 2,867 units and Transjamaican Highway popped 0.08 of a cent to end at 0.95 of one US cent in exchanging 1,645,477 shares.
In the preference segment, Equityline Mortgage Investment preference share ended unchanged at US$1.999 in switching ownership of 4 shares, JMMB Group 5.75% advanced 5 cents ending at US$2.09 after one stock unit crossed the exchange and JMMB Group 6% ended unchanged at US$1.10 after trading 9 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Mostly gains for Jamaica Stock Exchange
Stocks closed trading on Monday on the Jamaica Stock Exchange, with the Combined Index rising 170.35 points to 401,607.90, the All Jamaican Composite Index gaining 1,395.95 points to 444,574.70, the JSE Main Index slipping 70.06 points to 391,123.20 and the Junior Market index rising 26.80 points to 3,990.23.
The market’s PE ratio ended at 18.1 based on 2021-22 earnings and 11.8 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.
8 stocks rise 8 fall on Trinidad Stock Exchange
Market activity ended on Monday, after trading 48 percent fewer shares, with a 16 percent fall in the value compared to Friday, at close of the Trinidad and Tobago Stock Exchange after an equal number of stocks gained in value as well as declined at the close of trading.
A total of 23 securities traded up from 14 on Friday, with declining and rising stocks sharing eight each with seven remaining unchanged. The Composite Index lost 8.94 points to close at 1,487.34, the All T&T Index declined 3.28 points to 2,104.04 and the Cross-Listed Index shed 2.10 points to settle at 115.97.
A total of 582,784 shares traded for $8,852,140 versus 1,122,765 units at $10,499,447 on Friday. An average of 25,338 units traded at $384,876 against 80,198 shares at $749,960 on Friday, with trading month to date averaging 47,858 units at $516,834 versus 49,377 units at $525,735. The average trade for January amounts to 39,943 units at $369,498.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and two stocks with lower offers.
At the close, Agostini’s advanced $1 to close at a 52 weeks’ high of $47, with 52 shares crossing the market, Ansa McAl declined 50 cents in closing at $57 in exchanging 10,001 stock units, Calypso Macro Investment Fund increased 6 cents to $16.91 trading 14 stocks. Clico Investment Fund remained at $30.50 while exchanging 34,072 units, First Citizens Group fell $1.50 to $62.50 with an exchange of 285 units, GraceKennedy finished at $6, with 412,989 shares crossing the market. Guardian Holdings dropped 25 cents to close at $29.75 after 6,889 stock units changed hands Guardian Media fell 11 cents to $3.04, with 218 stocks crossing the exchange, JMMB Group ended unchanged at $2.30 while exchanging 44,202 shares.
L.J. Williams B share finished at $1.95 after closing with an exchange of 26 units, Massy Holdings shed 2 cents to close at $105.98, with 8,353 stocks clearing the market, National Enterprises slipped 1 cent to end at $3.24 in an exchange of 384 stock units. National Flour Mills ended unchanged at $1.95 in switching ownership of 250 stock units, NCB Financial Group fell 25 cents to $7.25 with the swapping of 10,010 shares, One Caribbean Media shed 10 cents in ending at $4.10 in an exchange of 202 units. Point Lisas rose 23 cents to $3.50 after exchanging 25 stocks, Prestige Holdings remained at $7.10 after trading 596 shares, Republic Financial Holdings popped $1 to close at $143 after exchanging 19,221 stocks. Scotiabank ended unchanged at $73 with the swapping of 74 stock units, Trinidad & Tobago NGL rallied 72 cents in closing at $21.50 with an exchange of 33,124 units, Trinidad Cement gained 5 cents to close at $3.75, with 5 units crossing the exchange. Unilever Caribbean climbed 17 cents to $15.37 in trading 192 stocks and West Indian Tobacco advanced 99 cents to $25 with 1,600 shares clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Tropical Battery tops ICTOP10
Tropical Battery surges to sit on top of the ICTOP10 Junior Market listing with the company seemingly poised to earn $280 million with earnings per share of 22 cents, more than five times 2021 full year earnings, with potential for the price to deliver gains of 153 percent as the stock helped in creating a complete overhaul of the TOP 3 stocks at the end of the week.
Tropical Battery heads the Junior Market ICTOP10.
In the past week, the Junior Market came back to life and clawed back much of the 226 points lost in the previous week while the Main Market continues to consolidate around the 440,000 points level, on the All Jamaica Composite Index.
The focus this past week was on the FJP Limited IPO that opened on Monday at $1 per share and closed on Tuesday, having been oversubscribed. As the FJP offer closed, up came the third new offer for the Junior Market in 2022, with the release of the EducFocal prospectus to raise $130 million at $1 per share, with the issue opening on March 3 and expected to close shortly thereafter.
In TOP10 developments this week, returning to the Junior Market are Tropical Battery with the price slipping from last week’s $1.79 to $1.74 and Medical Disposables after the price slipped from $7.27 to $6.60 this week. 
Leaving the TOP10 this week are iCreate and Cargo Handlers. The Main Market had one change, with Carreras moving out after hitting $8.90 and Jamaica Broilers coming in to replace it.
During the week, the Junior Market TOP10 listed Cargo Handlers surged 27 percent to $8.89, iCreate rose 28 percent to close at 77 cents, while Elite Diagnostic and Lasco Distributors both lost 9 percent to end at $3.30 and $3.63 respectively and Lasco Financial lost 8 percent to close at $3.30.
In the Main Market, Carreras rose 8 percent to close of $8.90 while Sagicor Group added 6 percent to end at $57, but 138 Student Living lost 5 percent to end at $5.20.
The Junior Market potential gain for the TOP 10 Junior Market stocks has moved up from 104 percent to 113 percent, much lower than the Main Market at 125 percent. The top three stocks in the Junior Market are Tropical Battery followed by Elite Diagnostic and Lasco Distributors to gain between 120 and 153 percent, compared to 109 and 129 percent, previously.
The potential gains for Main Market stocks moved from 122 percent last week to this weeks’ 125 percent, with the top three being Guardian Holdings followed by JMMB Group and Sygnus Credit Investments all projected to gain between 161 and 180 percent versus 165 and 185 percent last week.
The average PE for Junior Market has moved to 19.4 based on ICInsider.com’s 2021-22 earnings and is ahead of the JSE Main Market at 16.7. In the process, the Junior Market has surpassed the average of 17 that was achieved at the end of March last year. The TOP 10 stocks trade at a PE of a mere 9.5, with a 41 percent discount to that market’s average.
All the stocks in the Junior Market can gain just 3 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 16.9 just 12 percent less than the PE of 19 at the end of March and 18 percent below the target of 20 to March this year. The Main Market TOP 10 average PE is 9.1 representing a 46 percent discount to the market, well below the potential of 20. Around 17 stocks or a third 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.
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.
