Trading on the Jamaica Stock Exchange US dollar market ended on Monday, with the volume of stocks changing hands rising 29 percent but with an 85 percent drop in value compared with that on Friday and resulted in eight securities trading, compared to seven on Friday with three rising, one declining and four ending unchanged.
A total of 144,256 shares were traded for US$3,922 compared with 112,013 units at US$25,887 on Friday.
Trading averaged 18,032 shares at US$490 compared with 16,002 units at US$3,698 on Friday, with a month to date average of 22,412 shares at US$1,821 compared to 25,916 units at US$2,885 on the previous day. May ended with an average of 43,350 units for US$2,759.
The US Denominated Equities Index slipped 3.84 points to end at 234.33.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.8. The PE ratio is computed based on the last traded price of each stock divided by projected earnings forecasts done by ICInsider.com for companies with their financial year ending between November 2023 and August 2024.
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, First Rock Real Estate USD share remained at 5 US cents as 3,324 shares passed through the market,
Productive Business Solutions climbed 0.50 of one cent to US$1.85 in an exchange of 49 stocks, Proven Investments advanced 0.9 of a cent and ended at 17 US cents in exchanging 9,000 stocks, Sygnus Credit Investments ended at 10 US cents in switching ownership of 1,749 units and Transjamaican Highway dipped 0.2 of a cent in closing at 1.2 US cents with 130,011 shares crossing the market.
In the preference segment, Productive Business 9.25% preference share rallied 65 cents to end at US$13.15, with 15 stock units crossing the market, Eppley 6% preference share remained at US$1.40, with 4 units changing hands and JMMB Group 5.75% ended at US$1.90 in an exchange of 104 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading slips on the JSE USD market
Kremi tops ICTOP10 Lasco Manufacturing in
Iron Rock Insurance ended the past week up 14 percent to $2.25 and Lasco Distributors climbed 11 percent to $2.77 after both jumped 34 percent and 21 percent, respectively, earlier in the week, with two new stocks entering the Junior Market ICTOP10. At the same time, the Main Market TOP10 delivered moderate up and down movements.
The Lasco Distributors price movement follows release of full year results with earnings of 38.5 cents per share, with ICInsider.com projecting earnings of 55 cents for the fiscal year ending March 2024, leaving much room for solid upside price movement in the months ahead.
Lasco Manufacturing (LasM) and Caribbean Cream (Kremi) released improved full year results over those for 2022. Importantly, ICInsider.com forecast for the 2024 fiscal year is 70 cents per share for LasM and 90 cents for Kremi, with both entering the TOP10 this week, with one at the top and one at the bottom. Iron Rock Insurance and Edufocal fell from the Junior Market TOP10 to make way for the two stocks.
The stock rising in the ICTOP10 Junior Market, apart from those mentioned in the opening paragraph, is Consolidated Bakeries, with an increase of 4 percent to $2.27. At the same time, Caribbean Assurance Brokers, iCreate and One on One dipped 4 percent to $2.40, $1.26 and $1.10 respectively.
The price of Main Market listed Caribbean Producers, popped 5 percent in closing at $10.06, Key Insurance fell 11 percent to $2.80 and 138 Student Living lost 8 percent in value to close at $5.15.
At the end of the week, the average PE for the JSE Main Market TOP10 is 5.9, well below the market average of 13.5. The Main Market TOP10 is projected to have an average of 259 percent, to May 2024, based on 2023 forecasted earnings.
The 15 most highly valued Main Market stocks are priced at a PE of 15 to 110, with an average of 28 and 19 excluding the highest PE stocks and 18 for the top half excluding the stocks with the highest valuation.
The Junior Market Top 10 PE sits at 5.3 compared with the market at 10.5. There are 10 stocks representing 21 percent of the market, with PEs from 15 to 24, averaging 19 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. Junior Market is projected to rise by 295 percent to May 2024.

Lasco’s ICool drinks.
The differences between the average PE ratio of the Main and Junior Markets and the overall market valuation are important indicators of the level of likely gains for ICTOP10 stocks.
In the market generally, Investors continue to nibble away at a number of stocks and, in the process, gradually reduce the supply of several stocks that are attractively priced as the market moves toward the summer months, the start of the stock market year.
A look behind the supply chain shows an ever decreasing number of stocks on offer. The list includes Caribbean Assurance Brokers with strong buying interest between $1.88 and $2.40, but limited selling above $2.50, Caribbean Cement, Caribbean Producers (CPJ), Fontana, Dolphin Cove, Honey Bun, Main Event,
Massey Holdings, Seprod, Transjamaican and Wisynco have started to look positive. Supplies of some stocks are being quietly sucked out of the market, setting the stage for a sustained rally sometime down the road. 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.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2023 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, resulting 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.
Increased funding for the JSEUSD market
Trading on the Jamaica Stock Exchange US dollar market ended on Friday, with the volume of stocks changing hands declining 24 percent but with the value surging 878 percent over Thursday, resulting in trading in seven securities, compared to three on Thursday with two rising, two declining and three ending unchanged.
A total of 112,013 shares were traded for US$25,887 compared with 147,149 units at US$2,647 on Thursday.
Trading averaged 16,002 units at US$3,698 compared t0 49,050 shares at US$882on Thursday, with a month to date average of 25,916 shares at US$2,853 compared to May with an average of 43,350 units for US$2,759.
The US Denominated Equities Index lost 0.40 points to settle at 238.16.
The PE Ratio, a measure used to compute stock values, averages 8.8. The PE ratio is computed based on the last traded price of each stock divided by projected earnings forecasts done by ICInsider.com for companies with their financial year ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows one stock ending with a bid higher than the last selling price and none with a lower offer.
At the close, Productive Business Solutions dipped 5.5 cents to US$1.845, with 5 shares crossing the exchange,
Proven Investments rose 0.1 of a cent to finish trading at 16.1 US cents after 29,361 stock units were traded, Sterling Investments ended at 1.68 US cents after 13,500 stocks changed hands, Sygnus Credit Investments fell 1.03 cents to end at 10 US cents with 2,208 units being traded and Transjamaican Highway climbed 0.2 of a cents to close at 1.4 US cents while exchanging 65,367 shares.
In the preference segment, Productive Business 9.25% preference share ended at US$12.50 with shareholders swapping 1,570 stock units and JMMB Group 5.75% ended at US$1.90 with an exchange of 2 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Fall back for JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Thursday with an 83 percent fall in the volume of stocks changing hands at a 97 percent lower value than on Wednesday, resulting from trading in just three securities, compared to seven on Wednesday with one rising, one declining and one ending unchanged.
A total of 147,149 shares were exchanged for US$2,647 compared with 842,727 units at US$97,351 on Wednesday.
Trading averaged 49,050 units at US$882 compared to 120,390 shares at US$13,907 on Wednesday. May ended with an average of 43,350 units for US$2,759.
The US Denominated Equities Index shed 4.12 points to settle at 238.57.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.8. The PE ratio is computed based on the last traded price of each stock divided by projected earnings forecasts done by ICInsider.com for companies with their financial year ending between November 2023 and August 2024.
The Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and none with a lower offer.
At the close, Sygnus Credit Investments rose 0.02 of a cent to 11.03 US cents after trading ended with 2,236 shares changing hands and Transjamaican Highway dipped 0.25 of a cent in closing at 1.2 US cents with a transfer of 144,438 stocks.
In the preference segment, JMMB Group 6% remained at US$1.20 after ending with 475 stock units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
May ends with a blast for JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Wednesday, with the volume of stocks changing hands surging 5,354 percent valued at 9,770 percent more than on Tuesday and resulting in seven securities trading, compared to six on Tuesday with prices of four rising, one declining and two ending unchanged.
Overall, 842,727 shares were traded for US$97,351 compared to 15,452 units at US$986 on Tuesday.
Trading averaged 120,390 shares at US$13,907 versus 2,575 units at US$164 on Tuesday, with a month to date average of 43,350 shares at US$2,759 compared to 39,779 units at US$2,243 on the previous day. April ended with an average of 394,241 units for US$22,357.
The US Denominated Equities Index jumped 30.40 points to 242.69.
The PE Ratio, a measure used in computing appropriate stock values, averages 9. The PE ratio is computed based on the last traded price of each stock divided by projected earnings forecasts done by ICInsider.com for companies with their financial year ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and one with a lower offer.
At the close, Margaritaville advanced 2.47 cents to 11.48 US cents, with 8,600 shares crossing the market,
Productive Business Solutions climbed 44.92 cents to US$1.90 with an exchange of 41,899 stocks, Proven Investments lost 0.9 of a cents and ended at 16 US cents, with 918 units crossing the exchange, Sterling Investments ended at 1.68 US cents while investors traded 1,188 stock units and Transjamaican Highway rose 0.16 of a cent to close at a record high of 1.45 US cents after a transfer of 787,041 shares.
In the preference segment, Productive Business 9.25% preference share gained US$1 to close at US$12.50 after exchanging one unit and JMMB Group 5.75% ended at US$1.90 with investors transferring 3,080 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading dives on JSE USD Market
A 98 percent fall in stocks trading on the Jamaica Stock Exchange US dollar market ended on Tuesday, with the market climbing above the close on Monday and resulted in the trading of six securities, down from eight on Monday and ended with prices of three rising, none declining and three ending unchanged.
Overall, 15,452 shares were traded for US$986 compared to 959,588 units at US$46,217 on Monday.
Trading averaged 2,575 shares at US$164 versus 119,949 units at US$5,777 on Monday, with a month to date average of 39,779 shares at US$2,243 compared with 41,318 units at US$2,329 on the previous day. April ended with an average of 394,241 units for US$22,357.
The US Denominated Equities Index popped 12.60 points to conclude trading at 212.29.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.5. The PE ratio is calculated based on the last traded price of each stock divided by projected earnings forecasts done by ICInsider.com for companies with their financial year ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close,
First Rock Real Estate USD share popped 0.5 of a cent after closing at 5 US cents, with shareholders swapping 560 shares, Proven Investments ended at 16.9 US cents after a transfer of 2,325 stock units, Sterling Investments remained at 1.68 US cents, with 5,741 stocks crossing the market and Transjamaican Highway rose 0.29 of a cent to end at 1.29 US cents after closing with an exchange of 6,616 units.
In the preference segment, JMMB Group 5.75% ended at US$1.90 with 204 shares changing hands and JMMB Group 6% increased 13 cents to US$1.20 as investors exchanged just 6 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
A total of 24,040,809 shares changed hands amounting to $81,535,879 up from 8,887,886 units at $52,849,273 on Thursday.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.5 for the Main Market. The JSE Main and USD Market PE ratios are computed based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2023.
JMMB Group advanced $1.24 to close at $29.99 in an exchange of 4,998 stocks, Key Insurance dipped 49 cents to $2.80, with 24,924 shares changing hands, Massy Holdings lost $4.50 to end at $100 after an exchange of 105,204 stock units, MPC Caribbean Clean Energy fell $1 to $70 in switching ownership of 6 shares, NCB Financial lost $1.39 in closing at $68.60 with shareholders swapping 124,916 units, 138 Student Living dipped 36 cents to close at $5.15 after an exchange of 4,229 stocks, Pan Jamaica Group declined $2.90 ended at $54.09 while 12,829 units were exchanged, Portland JSX shed 54 cents to close at $11 with a transfer of 1,603 shares, Sagicor Group climbed $2.25 to end at $50.50 with an exchange of 8,854 stock units and Stanley Motta popped 30 cents to $5.40, with 15,163 stocks crossing the market.
In the preference segment, Productive Business 10.50% preference share rose $25 to $1250 as investors exchanged 300 stocks, JMMB Group 7.25% preference share fell 64 cents to close at $3.61 in an exchange of 12,880 stock units and 138 Student Living preference share dropped $1.25 to end at $88 with 83 shares clearing the market.
A total of 8,887,886 shares were traded for $52,849,273 compared to 4,443,891 units at $149,369,888 on Wednesday.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.4 for the Main Market. The JSE Main and USD Market PE ratios are computed based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2023.
Massy Holdings climbed $1.50 to $104.50 with investors transferring 732 shares. Mayberry Investments rallied 47 cents to end at $8.50, with 102,411 units crossing the market, NCB Financial popped 49 cents to $69.99 as 148,709 stock units passed through the market, Sagicor Group dipped $3.74 and ended at $48.25 after investors ended trading of 39,116 stocks. Scotia Group advanced 60 cents to close at $34.85 while exchanging 323,426 shares, Seprod declined $6 to $70 with an exchange of 2,214 units, Supreme Ventures fell 99 cents to end at $26.90 with shareholders swapping 18,867 stock units and Sygnus Credit Investments rallied 30 cents to $12.90 with a transfer of 200 stocks.
In the preference segment, Jamaica Public Service 7% advanced $9.20 and ended at $78.50 after a transfer of 1,589 units and 138 Student Living preference share shed $15.75 to close at $89.25 with 106 stock units clearing the market.
A total of 24,443,891 shares were traded for $149,369,888 compared to 8,501,678 units at $53,413,585 on Tuesday.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.5 for the Main Market. The JSE Main and USD Market PE ratios are computed based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2023.
Margaritaville rose 99 cents to close at $18.41 with shareholders swapping 11 stocks, Massy Holdings dipped $1.50 and ended at $103 while exchanging 97,198 stock units. Mayberry Investments shed 97 cents to close at $8.03 after exchanging 14,614 shares, NCB Financial lost 50 cents in closing at $69.50 with investors trading 50,335 shares, Pan Jamaica Group climbed $5 to $57 with 634,963 stocks crossing the exchange, Portland JSX increased 84 cents to $11.54 after 44,836 stock units passed through the market, Sagicor Group gained $1.99 in closing at $51.99, with 212,000 units crossing the market, Seprod rallied $4 to $76 in an exchange of 167,248 units, Supreme Ventures advanced 42 cents to end at $27.89 with 24,083 shares clearing the market, Sygnus Credit Investments fell 39 cents to close at $12.60 with a transfer of 14,266 stocks and Wisynco Group climbed $1 to close at $19, with 401,684 stock units crossing the market.
In the preference segment, Productive Business 10.50% preference share popped $124 to $1225 in an exchange of 101 stocks and Jamaica Public Service 7% increased by $9.30 and ended at $69.30 with one stock unit changing hands.
A total of 8,501,678 shares were traded for $53,413,585 compared to 19,055,221 units at $86,952,533 on Monday.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.4 for the Main Market. The JSE Main and USD Market PE ratios are computed based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending up to August 2023.
Massy Holdings drifted 50 cents lower to close at $104.50 after trading 1,755 stocks, Mayberry Jamaican Equities increased 50 cents in closing at $11 after 38,300 stocks cleared the market, NCB Financial fell $2 to end at $70 with an exchange of 92,711 shares. 138 Student Living gained 74 cents to end at $5.50 with a transfer of 403 shares, Pan Jamaica Group rallied $1 and ended at $52 with an exchange of 37,191 stock units, Proven Investments climbed 56 cents to $26, with 1,063 stock units crossing the market. Seprod shed $3 in closing at $72 as investors exchanged 8,428 units, Sygnus Real Estate Finance gained 49 cents to end at $14.99 and closed with an exchange of 13,908 stock units and Wisynco Group declined $1 to close at $18 after 195,610 shares changed hands.
In the preference segment, Eppley 5% preference share dropped $2.90 and ended at $20 in an exchange of 49 stocks and Jamaica Public Service 7% declined $9 to close at $60 while exchanging 23 units.