The Main and Junior Markets remained steady at the end of the week, only marginally adrift from last week’s close with just a few points of separation, suggesting the markets may have started to benefit from falling interest rates in the financial market. The market movement did nothing to prevent some sizable price gains, with minimal losses in the TOP10 lists.
In the All JSE TOP10 tTech replaced Iron Rock Insurance following a sharp appreciation in the latter’s stock price. The All JSE TOP10 includes ten stocks that are listed on Jamaica Stock Exchange that have the highest potential gains, using projected 2024 earnings.
In the Junior Market TOP10, Iron Rock Insurance surged 33 percent to a 52 weeks’ high of $4, Caribbean Assurance rose 13% to close at $3.50 and Stationery & Office Supplies the biggest loser shed 4 percent to close at $1.56.
In the Main Market ICTOP 10, Berger Paints gained 12 percent to close at $6.83, Margaritaville and General Accident rose by 7 percent to close at $15.40 and $6.94 respectively. No other stock moved more than 3 percent.
The average PE for the JSE Main Market ICTOP 10 stands at 4.9, well below the market average of 13.9 and the Junior Market TOP10 sits at 6, just less than half of the market, with an average of 12.4.
The Main Market ICTOP10 is projected to gain an average of 320 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 228 percent over the same period.
In the Main Market ICTOP 10, a total of 15 of the most highly valued stocks representing 29 percent of the Main Market have PEs between 15 to 107, with an average of 29 and 21 excluding the highest PE ratios, and a PE of 23 for the top half of the market with the highest values and 17 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 10 stocks, 21 percent of the market, with PEs ranging from 15 to 23 and a PE of 17 for half of the market with the highest values.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. 
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 will likely deliver the best returns on or around May 2025 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.
TOP 10 Stocks, Daily Trading, Jamaican Stocks, Junior Market, Jamaican Stock Exchange,
Big price moves with additions to ICTOP10
The Main Market lost 2 percent in value for the week while the Junior Market inched a few points higher, in a period of falling interest rates that will be beneficial to stocks in the coming months. The market movement did nothing to prevent some sizable price changes in the TOP10 lists.
The All JSE TOP10 had no new listing this week but Caribbean Cream which headed the list last week dropped to the eighth position, following a downward revision in projected earnings. The All JSE TOP10 includes ten stocks listed on the Jamaica Stock Exchange with the highest potential gains, based on projected 2024 earnings.
In the Junior Market TOP10, Cargo Handlers rose 14 percent to $9.08, followed by Caribbean Cream with a gain of 13 percent to $3.45 and Elite Diagnostic gained 10 percent to close at $1.75 and sits at the top of the ICTOP10 list, with both stocks in the All JSE TOP10.
Access Financial lost 12 percent to $19.03, Caribbean Assurance fell 10 percent to $3.10 as the price keeps bouncing around the $3.10 to $3.80 range, awaiting the approach of the next quarterly results. One Great Studio dropped 9 percent to 72 cents, Iron Rock Insurance and Stationery & Office Supplies shed 5 percent to close at $3 and $1.65 respectively.
Caribbean Cream released its first quarter results with revenues and profits surging as previously indicated. Revenues jumped a solid 26 percent to $764 million, with profit after tax more than doubling to $15 million from $7 million last year and almost tripling before tax to $20.4 million. The first quarter net profit represents 43 percent of 2024 full year earnings. ICInsider.com forecast is for earnings of 70 cents for the 2025 fiscal year results. The company stock is listed as the third most attractive one on the Junior Market.
In the Main Market, Key Insurance rose 7 percent to end at $2.98. Guardian Holdings dropped 10 percent to $288 and heads both the IC Main Market TOP10 and the All JSE TOP10. JMMB Group declined by 7 percent to $20.73 and Berger Paints slipped 4 percent to $6.10, with limited buying interest currently.
There were two changes to the Junior Market TOP10 listings for the week, with Image Plus and Lumber Depot coming in as Cargo Handlers and Access Financial dropping out.
The average PE for the JSE Main Market ICTOP 10 stands at 4.9, well below the market average of 13.9 and the Junior Market TOP10 sits at 6, just less than half of the market, with an average of 12.4.
The Main Market ICTOP10 is projected to gain an average of 333 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 240 percent over the same period.
In the Main Market ICTOP 10, a total of 16 of the most highly valued stocks representing 31 percent of the Main Market have PEs between 15 to 107, with an average of 29 and 20 excluding the highest PE ratios, and a PE of 23 for the top half of the market with the highest values and 17 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 7 stocks, 15 percent of the market, with PEs ranging from 15 to 22 and a PE of 17 for half of the market with the highest values.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. 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 will likely deliver the best returns on or around May 2025 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.
Big price moves & additions to ICTOP10
The Junior Market fell 113 points in contrast to the Main Market that rose 364 points in August and increased by 2 percent and 1.4 percent respectively for the past week, to close out August. Price changes were interesting, with the Junior Market having only one stock with a notable loss and 4 with worthwhile gains. The Main Market TOP10 had two losers of note and three noted winners.
In the Junior Market TOP10, Lumber Depot rose 8 percent to $2.95, followed by One Great Studio popping 7 percent to 79 cents, Stationery and Office Supplies gained 6 percent to $1.73, following spirited trading in the stock after they released half year results and AMG Packaging rose 5 percent to $2.75. The Caribbean Cream stock continued to be pressured by the delay in publishing quarterly results, promised for August 29 but not yet posted, has dropped 12 percent in closing at $3.05.
In the Main Market, Key Insurance rose 16 percent to $2.79, Margaritaville climbed 15 percent to $14.37 and JMMB Group rose 6 percent to $22.30. Berger Paints and 138 Student Living lost 7 percent each to close at $6.35 and $4 respectively.
The All JSE TOP10 includes ten stocks listed on the Jamaica Stock Exchange with the highest potential gains in the market, based on projected 2024 earnings. Key Insurance dropped out of the list this week and was replaced by another insurance company, the Junior Market listed Iron Rock Insurance that dropped out at the end of the previous week.
There were two changes to the Main Market and Junior Market TOP10 listings for the week, one in the Junior Market and the other in the Main Market. Entering the Junior Market TOP10 is Cargo Handlers with the price falling to $8, with Lumber Depot falling out. In the Main Market, Palace Amusement dropped out allowing VM Investments to return to the TOP10.
The average PE for the JSE Main Market ICTOP 10 stands at 4.9, well below the market average of 14.3 and the Junior Market TOP10 sits at 6, just over half of the market, with an average of 12.6.
The Main Market ICTOP10 is projected to gain an average of 324 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 268 percent over the same period.
In the Main Market ICTOP 10, a total of 17 of the most highly valued stocks representing 33 percent of the Main Market have PEs between 15 to 107, with an average of 29 and 21 excluding the highest PE ratios, and a PE of 23 for the top half of the market with the highest values and 17 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 10 stocks, 21 percent of the market, with PEs ranging from 15 to 23 and a PE of 17 for half of the market with the highest values.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. 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 will likely deliver the best returns on or around May 2025 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.
Big price moves in ICTOP10
Markets were relatively calm this past week with the Main Market index rising and the Junior Market index slipping mildly, but that only misses some meaningful price moves in the TOP10. The effect on the ICTOP10 was mixed, with the All JSETOP10 seeing two changes and none for the Main and Junior Market TOP10. Price changes were limited in the Junior Market but pronounced in the Main Market TOP10.
At the close of the week, the mercurial price mover that trades as Kremi (Caribbean Cream) with delayed quarterly results, climbed 13 percent in closing at $3.45. Investors could be missing out on bargain prices currently. The company’s November quarter revenues rose a solid 9.5 percent, followed by a further rise by 13 percent in the 2024 fourth quarter, compared to just 2.6 percent for the nine months to November last year, suggesting a big increase of revenues and profit for the current fiscal year. AMG Packaging fell 7 percent to $2.61.
In the Main Market, Berger Paints and 138 Student Living gained 8 percent to $6.85 and $4.30 respectively and Pulse Investments rose 5 percent to $1.60. Stocks declining include Guardian Holdings and Margaritaville with a 10 percent fall to $316.40 and $12.50 respectively and Key Insurance lost 7 percent to $2.40. By the end of the week, Guardian Holdings recovered from a fall to $288.
The All JSE TOP10 includes ten stocks on the Jamaica Stock Exchange with the highest potential gains in the market currently, based on projected 2024 earnings. The chart now shows Pulse Investments and Elite Diagnostic entering the All JSE TOP10 list as Access Financial and Iron Rock Insurance dropped out.
There were no changes to the Main Market and Junior Market TOP10 listings.
The average PE for the JSE Main Market ICTOP 10 stands at 4.8, well below the market average of 14 and the Junior Market TOP10 sits at 5.9, just over half of the market, with an average of 12.
The Main Market ICTOP10 is projected to gain an average of 331 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 267 percent over the same period.
In the Main Market ICTOP 10, a total of 17 of the most highly valued stocks representing 33 percent of the Main Market are priced at a PE of 15 to 102, with an average of 29 and 20 excluding the highest PE ratios, and a PE of 23 for the top half and 17 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 7 stocks, or 15 percent of the market, with PEs ranging from 15 to 22.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. 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 will likely deliver the best returns on or around May 2025 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.
Elite leaps into # 2 on ICTOP10
Much is happening currently in the Jamaica stock market, for earnings season for the second quarter of the year is mostly over and it produced a mix of results some of which affected the price of the stocks at the same time the Junior market recorded only two days of gains for August to date while the Main Market is lower than the close of July.
Interest rates on Bank of Jamaica CDs fell below 9 percent this past week from a high of nearly 12 percent in March this year as inflation continues to moderate and is within the BOJ-mandated target of 4 to 6 percent for all but two months of the year, setting the stage for permanent ease in interest rates.
Several companies reported increased costs that were not recovered from revenue growth, with some having lower revenues, compounding the problem for these companies. Yet there were some positive results. One such is Elite Diagnostic with fourth quarter results of 9 cents per share an indication of a big hike in the 2025 results. ICInsider.com forecast is for 45 cents per share, putting the stock in the number 2 position on the All JSE ICTOP10 as well as the Junior Market at the same time Consolidated Bakeries Is out of both listings, having reported a loss in the second quarter.
The All JSE ICTOP10 represents the ten best stocks to profit from on the Jamaica Stock Exchange. The list had two changes, with Iron Rock Insurance and Consolidated Bakeries dropping out and replaced by Elite Diagnostic and Pulse Investments.
In the JSE Main Market ICTOP 10, VM Investments gained 20 percent to $3.34 and Jamaica Broilers gained just 4 percent to $35. Berger Paints fell 14 percent to $6.36 and Pulse Investments lost 4 percent to close at $1.53.
In the Junior Market TOP10, Consolidated Bakeries surged 26 percent following a sharp drop in the previous week to close at $2.01, Caribbean Assurance jumped 17 percent to $3.50 and Iron Rock Insurance rose 5 percent to $3.15. Caribbean Cream fell 11 percent to $3.05 and tTech dropped 10 percent to $2.07.
The average PE for the JSE Main Market ICTOP 10 stands at just 4.9, well below the market average of 13.7 and the Junior Market TOP10 sits at 5.9, just over half of the market, with an average of 12.2.
The Main Market ICTOP10 is projected to gain an average of 323 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 267 percent over the same period.
In the Main Market ICTOP 10, a total of 16 of the most highly valued stocks representing 31 percent of the Main Market are priced at a PE of 15 to 102, with an average of 29 and 20 excluding the highest PE ratios and a PE of 22 for the upper half and 17 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 9 stocks, or 18 percent of the market, with PEs ranging from 15 to 22 and a PE of 16 for the upper half.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. 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 will likely deliver the best returns on or around May 2025 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.
Economic uncertainty hitting Trinidad stocks
The Trinidad and Tobago Stock Exchange All Trinidad Index fell 12.49 points to close at 1,673.86 for the week ending on Friday, even as Ansa McCal jumped $4.48 to close the week at $63 but Scotiabank drop $1 during the week to be the stock with the biggest decline.
The market closed with eight stocks declining and six rising with Ansa McCal being by far the biggest price mover in a week that saw Republic Financial, Guardian Holdings and JMMB Group closing at 52 weeks’ low and Endeavor closing at a 52 weeks’ high of $17.
The market continues to decline for 2024 to date. This comes with tightness in the financial market in the country. The latest move by the central bank flowing from an unscheduled monetary policy meeting was the lowering of reserves of banks held at the central banks, from 14 percent to 10 percent of prescribed liabilities with effect from the reserve week beginning July 24, 2024. While the central bank kept their repo rate at 3.5 percent they indicate the Treasury bill rates have steadily declined by 27 basis points since February. At the last auction in July the average rates came out at 1.40 percent.
“Production indicators monitored by the Central Bank during the fourth quarter of 2023 and into the first three months of 2024, such as local sale of cement and new motor vehicle sales, point to vibrancy in some non-energy sectors. Meanwhile, data from the Ministry of Energy and Energy Industries indicate that output of crude oil and natural gas from the mature fields continued to slip over this period.”
PE ratios still show several stocks listed on the Trinidad and Tobago to be undervalued.
No Beryl ruffle for ICTOP10
Acquisitions ruled the market this past week with former ICTOP 10 stock Caribbean Producers and current TOP10 listed tTech major shareholding shifting to new owners, with the promise of more shares to be bought by the major shareholders in both cases. These developments had little impact on the overall market during the week but they sent a powerful message to investors, if they care to listen.
In Junior Market ICTOP10, Consolidated Barkeries rose 14 percent to close at $3.85, Caribbean Cream gained 13 percent to $3.75 and tTech rose 5 percent to $2.50 following a switch in ownership of the company. Access Financial fell 9 percent to $19.95 followed by One Great Studio, down 7 percent to 77 cents.
Main Market TOP10 listed Berger Paints fell 12 percent in closing at $7.90 and Key Insurance declined 9 percent to close at $2.05. There were no stocks with gains for the week of note.
Jamaica Broilers returns to the Main Market TOP10, replacing Palace Amusement with a moderate rise to $1.19. The Junior Market had no changes.
The average PE for the JSE Main Market ICTOP 10 stands at 4.9, well below the market average of 13.9 and the Junior Market TOP10 sits at 6.9, just over half of the market, with an average of 12.8.
The Main Market ICTOP10 is projected to gain an average of 312 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 207 percent over the same period.
In the Main Market ICTOP 10, a total of 17 of the most highly valued stocks representing 33 percent of the Main Market are priced at a PE of 15 to 102, with an average of 29 and 19 excluding the highest PE ratios, and a PE of 23 for the top half and 16 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 14 stocks, or 30 percent of the market, with PEs ranging from 15 to 50, averaging 14, well above the market’s average. The average PE for the top half of the market is 17, possibly the lowest fair value measure for stocks currently.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so.
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 will likely deliver the best returns on or around May 2025 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.
Big ICTOP10 price movements
The past week saw the return to trading of shares in iCreate and Edufocal, with the former enjoying a bounce in price from 43 cents to close at 60 cents, with the latter falling from 85 cents to 65 cents following the release of the 2023 audited accounts that were highly negative for the stock, with the company posting a big annual loss.
In a week when the Junior Market fell 1.72 percent and the Main Market was down 0.97 percent the ICTOP10 stocks ended with declining stocks outnumbering those rising. JSE Main Market had two winners and three losers of note and just two winners and four losers of note in the Junior Market.
The Junior Market ICTOP10 Caribbean Assurance Brokers rose 7 percent to close at $3.80, followed by Lumber Depot with a rise of 4 percent to $2.76. Consolidated Bakeries suffered a big 28 percent fall to $1.55 but had no bids at the close of the market, Caribbean Cream dropped 11 percent to $3.56, Dolla Financial fell 8 percent to $2.30 and Stationery and Office Supplies lost 6 percent to close at $1.59.
In the Main Market, Guardian Holdings was the only stock with note-worthy gains, with an increase of 4 percent to $360. Berger Paints lost 11 percent in closing at $8, JMMB Group fell 8 percent to $22.25 and Margaritaville dipped 6 percent to close at $13.60.
There are no new additions to the ICTOP10 for the week.
The average PE for the JSE Main Market ICTOP 10 stands at 5.1, well below the market average of 13.9 and the Junior Market TOP10 sits at 6.4, just over half of the market, with an average of 12.4.
The Main Market ICTOP10 is projected to gain an average of 303 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 230 percent over the same period.
In the Main Market ICTOP 10, a total of 16 of the most highly valued stocks representing 31 percent of the Main Market are priced at a PE of 15 to 103, with an average of 29 and 19 excluding the highest PE ratios, and a PE of 23 for the top half and 16 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 12 stocks, or 26 percent of the market, with PEs ranging from 15 to 45, averaging 20, well above the market’s average. The average PE for the top half of the market is 17, possibly the lowest fair value measure for stocks currently.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. 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 will likely deliver the best returns on or around May 2025 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.
Nice price movements in ICTOP10
The listing of Omni Industries on the Junior Market on Tuesday, was the highlight of the Jamaica Stock Exchange during the past week, following a successful offer of share to the public. The market closed with gains in the Main and Junior Market indices, leading to just four stocks rising in the ICTOP10 Main Market and only two in the Junior Market, with gains ranging from three to 12 percent and five with losses in the Junior Market TOP10 and six in the Main Market.
Omni Industries that was never in the TOP10 closed at $1.12, after the price hit a record high of $1.42 on Wednesday, sits in the last quartile of the overall Junior Market, with a fairly healthy PE of 14.
Lasco Financial, last week’s new listing to the Junior Market ICTOP10 climbed 12 percent to $1.70 and dropped out of the listing. Caribbean Cream rallied 7 percent to $4. Caribbean Assurance Brokers fell 8% to close at $3.55, followed by Access Financial, Lumber Depot and tTech falling by 5 percent each to close at $19, $2.65 and $2.35 respectively.
In the Main Market, Berger Paints, General Accident and Palace Amusement rose 8 percent to close at $8.95, $7 and $1.15 respectively. Margaritaville fell 8 percent to close at $14.50, Key Insurance fell 6 percent to $2.24 and JMMB Group dipped 5 percent to $24.25.
The Junior Market listed AMG Packaging is the the only new addition to the ICTOP10 for the week, coming in at $3.30.
The average PE for the JSE Main Market ICTOP 10 stands at 5.1, well below the market average of 14 and the Junior Market TOP10 sits at 6.7, just over half of the market, with an average of 12.4.
The Main Market ICTOP10 is projected to gain an average of 295 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 212 percent over the same period.
In the Main Market ICTOP 10, a total of 17 of the most highly valued stocks representing 33 percent of the Main Market are priced at a PE of 15 to 103, with an average of 30 and 19 excluding the highest PE ratios, and a PE of 23 for the top half and 16 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 12 stocks, or 26 percent of the market, with PEs ranging from 15 to 45, averaging 20, well above the market’s average. The average PE for the top half of the market is 17, possibly the lowest fair value measure for stocks currently.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. 
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 will likely deliver the best returns on or around May 2025 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.
Carib Assurance jumps 32% in ICTOP10
Caribbean Assurance Brokers is this week’s star performer, jumping 32 percent to $3.83, following the announcement of a 428 percent hike in dividend to 14.11 cents from just 2.67 cents last year, with the company reporting earnings of 47 cents per share for 2023, including a $17 million charge for doubtful debt, amounting to 6.5 cents per share which was reversed in the first quarter to March this year, but that did not prevent the first quarter results from falling compared with 2023.
Other stocks with notable price movements are tTech with a 13 percent rise to $2.45 followed by AMG Packaging, which climbed 6 percent to $3.25, while Access Financial and Edufocal rose 5 percent to $21 and 84 cents respectively.
In the Main Market, Berger Paints popped 6 percent to close at $8.50, JMMB Group rose 4 percent to $25.50, Palace Amusement fell 7 percent to close at $1 and Key Insurance slipped 4 percent to $230.
Dropping from the ICTOP10 is AMG Packaging which Dolla Financial replaces in the Junior Market. There are no changes to the Main Market list.
The Junior Market ICTOP10, , followed by Access Financial, with an 11 percent rise to $20. Edufocal dropped 11 percent to 80 cents, while Caribbean Assurance Brokers is down 9 percent to close at $2.90 and Caribbean Cream fell 7 percent to $3.90.
The average PE for the JSE Main Market ICTOP 10 stands at 5.1, well below the market average of 14.2 and the Junior Market TOP10 sits at 6.8, just over half of the market, with an average of 13.
The Main Market ICTOP10 is projected to gain an average of 296 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 207 percent over the same period.
In the Main Market ICTOP 10, a total of 16 of the most highly valued stocks representing 31 percent of the Main Market are priced at a PE of 15 to 96, with an average of 30 and 20 excluding the highest PE ratios, and a PE of 23 for the top half and 17 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 12 stocks, or 26 percent of the market, with PEs ranging from 15 to 53, averaging 21, well above the market’s average. The average PE in the top half of the market is 18, possibly the lowest fair value measure for stocks.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. 
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 will likely deliver the best returns on or around May 2025 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.
