Trading closed on the Junior Market of the Jamaica Stock Exchange Friday, with the volume and value of stocks traded marginally different than trades on Thursday, leading to a rise in the market index. As was the case on Thursday, trading ended with 42 securities changing hands trading on Friday and ended with prices of 17 rising, 19 declining and 6 closing unchanged.
Investors traded 4,659,572 shares for $10,992,961 compared with 4,512,426 units at $11,342,192 on Thursday.
Trading averaged 110,942 shares for $261,737 compared to 107,439 shares for $270,052 on Thursday with the month to date, averaging 134,604 units at $315,194 compared with 146,435 stock units at $341,922 on the previous day. October closed with an average of 361,392 units at $863,984.
Dolla Financial led trading with 953,906 shares for 20.5 percent of total volume, followed by EduFocal with 938,188 units for 20.1 percent of the day’s trade and One Great Studio with 487,790 units for 10.5 percent market share.
At the close, the Junior Market Index increased 25.76 points to conclude trading at 3,873.18.
The Junior Market ended trading with an average PE Ratio of 10.7, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Access Financial lost 45 cents in closing at $27.05, with 2,046 stock units crossing the market, AMG Packaging rose 8 cents to $2.35 with stakeholders exchanging 73 shares, Caribbean Cream dropped 15 cents and ended at $3.95 with 3,002 units clearing the market. Dolphin Cove shed 10 cents to end at $15.50 and closed after investors exchanged 64,924 stocks, EduFocal climbed 12 cents to close at $2.37 in an exchange of 938,188 shares, Everything Fresh increased 23 cents to $1.75 with shareholders swapping 26,925 stock units. Express Catering declined 8 cents to end at $4.20 after an exchange of 10,301 units, Fosrich popped 11 cents in closing at $2.42 with investors dealing in 61,936 stocks, Future Energy fell 14 cents to close at $3.51 in an exchange of 61,295 units. Indies Pharma gained 19 cents and ended at $3.11, with 753 shares crossing the market, ISP Finance dipped 20 cents to $31.30 with an exchange of 15 stocks, Jamaican Teas skidded 18 cents and ended at $2.10 after 51,538 stock units passed through the market. Main Event lost $1.30 to end at $13.60 after exchanging 572 shares, MFS Capital Partners declined 34 cents in closing at $2.03 in switching ownership of 471,767 units, Regency Petroleum shed 10 cents to close at $2.18, with 57,414 stocks crossing the exchange and Spur Tree Spices fell 9 cents to $2.11 with a transfer of 246,464 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Rising stocks crushed decliners on JSE USD market
Rising stocks crushed those declining in trading on the Jamaica Stock Exchange US dollar market on Friday, with the volume of stocks changing hands declining 74 percent, but with a 41 percent higher value than on Thursday, resulting in the trading of nine securities up from to seven on Thursday with prices of seven rising, one declining and one ending unchanged.
Overall, 50,369 shares were traded for US$10,547 compared to 191,624 units at US$7,484 on Thursday.
Trading on Friday averaged 5,597 shares at US$1,172 compared to 27,375 units at US$1,069 on Thursday. Trading for the month to date average 1s3,717 shares at US$1,011 compared with 18,937 units at US$908 on the previous day. October ended with an average of 47,977 units for US$4,392.
The US Denominated Equities Index rallied 1.94 points to 230.99.
The PE Ratio, a measure used in computing appropriate stock values, averages nine. The PE ratio is computed based on the last traded price divided by projected earnings 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 the bid higher than the last selling price and none with a lower offer.
At the close, Margaritaville gained 0.98 of one cent and ended at 12.98 US cents, with 121 units changing hands, MPC Caribbean Clean Energy rose 4.99 cents to 58.99 US cents with stakeholders exchanging 2 stocks, Proven Investments shed 0.01 of a cent to close at 15.99 US cents in switching ownership of 4,314 shares. Sterling Investments rallied 0.03 cents to end at 1.93 US cents as investors exchanged 2,212 stocks, Sygnus Credit Investments popped 0.11 of a cent in closing at 8.68 US cents after trading 520 shares, Sygnus Real Estate Finance USD share ended at 10 US cents, with 305 stock units crossing the market and Transjamaican Highway climbed 0.01 of a cent and ended at 1.69 US cents with investors dealing in 38,311 stocks.
In the preference segment, JMMB Group 5.75% increased 5 cents to close at US$2 while exchanging 4,490 units and JMMB Group 6% advanced 4 cents in closing at US$1.05, with 94 stocks clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
More funds chased Trinidad stocks on Friday
Investors pumped more funds into the Trinidad and Tobago Stock Exchange on Friday but traded fewer shares than they did on Thursday. The volume of stocks traded declined 32 percent and the value jumped 74 percent above that on Thursday, resulting in the trading of 17 securities compared with 19 on Thursday, with eight stocks rising, seven declining and two remaining unchanged.
Investors exchanged 93,136 shares for $4,187,061 versus 136,107 stock units at $2,400,320 on Thursday.
An average of 5,479 units were traded at $246,298 compared to 7,164 shares at $126,333 on Thursday, with trading month to date averaging 9,645 shares at $149,498 compared with 11,461 units at $107,311 on the previous day. The average trade for October amounts to 15,711 shares at $151,451.
The Composite Index dropped 1.71 points to end at 1,190.94, the All T&T Index declined 2.91 points to settle at 1,813.08, the SME Index remained unchanged at 79.99 and the Cross-Listed Index slipped 0.06 points to close at 73.52.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Angostura Holdings dipped $1 to close at $20.50 with an exchange of 80 stock units, Ansa McAl lost $2.95 in closing at $54.05, with 1,256 shares crossing the market, Ansa Merchant Bank fell 40 cents to $41.72 while exchanging 23 units. First Citizens Group popped 10 cents to close trading at $49.35 with an exchange of 1,752 stocks, FirstCaribbean International Bank ended at $7 in the trading of 11,187 units, Guardian Holdings declined 19 cents to close at $19.80 with shareholders swapping 190 stocks. JMMB Group shed 1 cent to close at $1.41 as investors exchanged 11,050 shares, Massy Holdings advanced 14 cents and ended at $4.59 after 19,098 stock units passed through the market, National Enterprises rose 4 cents in closing at $3.55 after an exchange of 5,029 shares. NCB Financial remained at $2.84 with investors transferring three stock units, One Caribbean Media dropped 29 cents in closing at $3.60 in switching ownership of 2,598 stocks, Prestige Holdings climbed 50 cents to $11, with 199 units clearing the market. Republic Financial increased $1 and ended at $120 in an exchange of 30,355 stocks, Scotiabank slipped 5 cents to close at $72.60 with investors dealing in 817 units, Trinidad & Tobago NGL gained $1.45 to end at $13.95 after 5,564 shares crossed the exchange. Unilever Caribbean rallied 86 cents to $11.48 after a transfer of 2,111 stock units and West Indian Tobacco increased 29 cents to close at $10.30, with stakeholders exchanging 1,824 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Profit bounce at Margaritaville
Margaritaville Turks was one company delivering improved revenues and profit for the 2023 period to August versus 2022, mostly reflecting improvement in tourism traffic to the Caribbean region.
The company operates a restaurant solely in the Turks and Caicos Islands, and delivered revenues of US$1.8 million in the August 2023 quarter, up 27 percent from US$1.42 million in the prior year and produced gross profit of $1.33 billion this year versus US$1.033 million in the previous year.
Net profit came in at US$230,000 for the quarter against US$94,000 in 2022, even as administrative expenses climbed to US$979,000 from US$833,000 in the previous year, with depreciation charge being flat at US$69,000. Other operating expenses amount to US$44,000, with none incurred in the last year and finance cost was just US$6,000 for the current year, down from US$29,000 in the last year’s first quarter.
The operations generated a gross cash flow of US$300,000, but US$496,000 advanced to a related party, resulting in negative flows of US$74,000, reducing cash funds to a mere $49,151.
Current assets ended the period at US$3.8 million and include US$2.7 million due from related companies, up from US$2.2 million in 2022. Current liabilities ended the period at US$1.96 million, from US$1.89 in 2022. Net current assets ended the period at US$1.8 million.
At the end of August, shareholders’ equity amounts to US$4.2 million, with long term borrowings at US$166,808 and short term at US$100,000.
Earnings per share for the quarter was 0.34 US cents, up from 0.14 US cents for the August 2022 quarter. IC Insider.com computation projects earnings of 2 US cents per share for the fiscal year ending May 2024, with a PE of 6.5 times the current year’s earnings based on the price of 12.7 US cents the stock traded on the Jamaica Stock Exchange, with an average PE of 12. Net asset value ended the period at 6 US cents, with the stock selling at two times book value.
Early November listing for A.S. Bryden on JSE
A.S. Bryden will list its ordinary and preference shares on the JSE Main Market on 10 November 2023, by way of an introduction, majority shareholder, Seprod stated in a release posted on the Jamaica Stock Exchange website.
AS Bryden is a group of companies operating out of Trinidad and Tobago that Seprod purchased the majority holdings in 2022.
The company will be listed existing shares on the JSE Main Market. and investors who have an interest in purchasing shares will have to do so by way of trades through the Jamaica Stock Exchange trading system, through brokers
Trading climbs on the JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Thursday, with the volume of stocks changing hands rising 161 percent valued 43 percent more than on Wednesday, and resulting in trading in seven securities, similar to market activity on Wednesday and ended with prices of three rising, three declining and one ending unchanged.
Overall, 191,624 shares were traded, for US$7,484 up from 73,498 units at US$5,221 on Wednesday.
Trading averaged 27,375 units at US$1,069, versus 10,500 shares at US$746 on Wednesday, with a month to date average of 18,937 shares at US$908 compared with trading in October that ended with an average of 47,977 units for US$4,392.
The US Denominated Equities Index gained 0.03 points to end at 229.05.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.7. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending up to August 2024.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, First Rock Real Estate USD share declined 0.26 of one cent and ended at 4.11 US cents after exchanging 10,652 stock units, Margaritaville shed 0.7 of a cent to close at 12 US cents in trading 16 shares, MPC Caribbean Clean Energy ended at 54 US cents, with 132 units clearing the market. Proven Investments popped 0.5 of one cent in closing at 16 US cents with investors dealing in 22,233 stocks, Sterling Investments lost 0.06 of a cent to close at 1.9 US cents, with 502 units crossing the market, Sygnus Credit Investments rallied 0.01 of a cent to end trading at 8.57 US cents with an exchange of 11,625 stocks and Transjamaican Highway rose 0.03 of a cent to end at 1.68 US cents after trading 146,464 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.