New additions to ICTOP10 & TOP15

At the end of the week when the Junior Market index hit another record high in closing over 4,200 points for the first time, there was no exit from the ICTOP10 Junior Market listing but there is one change to that of the Main Market as Caribbean Producers returns to the TOP 10 while Transjamaican Highway slips out.
This is the last week of publication of ICTOP10 that is based on 2021/22 results. The next report will the TOP10, incorporating 2022-23 earnings, currently showing the average for the Junior Market at 12.6 and the Main Market at 13.1. These are well off the current PE for the Junior Market at 22.6 times 2021-22 earnings and the Main Market at 16.1.
For this week only, the current compilation of the TOP 15 stocks based earnings for 2022-23 for now till March 2023 based on the latest stock prices, are shown along with the TOP10 for 201/22. The current TOP 15 stocks show changes to the list published in January, as price changes and earnings computation for some stocks have changed, while five stocks dropped out of the original list for the Main Market stocks, with five new listings. Dropping out are Radio Jamaica, Scotia Group, Grace Kennedy and Jamaica Broilers while in the Junior Market, Spur Tree dropped with the price moving from $1 to $3.55, Lasco Manufacturing also dropped out and Dolphin Cove that moved from $15 to $27. Coming into the TOP 15 are, iCreate, Paramount Trading and tTech.
The Junior Market movement this past week pushed the gains for the year to date to 22.7 percent, still some distance from the 60 percent forecasted by this publication at the start of the year, but just around 25 percent of the year has elapsed so far.
In the ICTOP10 listing this week, the big move was a 23 percent rise in the price of Tropical Battery, followed by an 11 percent gain for Lasco Manufacturing to end at $5 and 6 percent increase by Iron Rock Insurance. AMG Packaging slipped 11 percent as talk in the marketplace is that they are facing challenges with some raw material supplies that will affect production. Lasco Distributors fell 5 percent followed by Access Financial and Caribbean Assurance Brokers down 4 percent each. In the Main Market, Jamaica Broilers rose 9 percent followed by JMMB Group up 5 percent.
This weeks’ Junior Market index close, is 154 points higher than the 4,052.19 points at the end of the previous week, helped by the strong gains in Caribbean Cream up 41 cents, Dolphin Cove, up by $2.70, Express Catering 75 cents, Fontana 26 cents, Future Energy Source 51 cents, Honey Bun 55 cents, Jamaican Teas 18 cents, MailPac 47 cents, Main Event 62 cents and Tropical Battery 46 cents. Meanwhile, the Main Market continues to consolidate around support of 440,000 points for the All Jamaica Composite Index, even as it closed the week just under, at 435,748.05.
Most of the Junior Market TOP 10 have full year’s results due in months and the lack of final results seem to be sapping buying interest at this time.

ICTOP15 main market stocks for 2022-23

Potential gains for the TOP 10 Junior Market stocks stand at 107 percent and the potential gains for Main Market stocks end at 134 percent.
The average PE for the JSE Main Market TOP 10 average PE is 8.8 well below the market average of 15.8, while the Junior Market PE for the Top 10 is at 9.8 versus the market at 22.6.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. 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.

ICTOP15 Junior Market stocks for 2022-23

IC TOP10 stocks are likely to deliver the best returns up to the end of March 2022, ranked in order of potential gains, based on likely increases for companies taking into account, 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 are ongoing, based on receipt of new information.

Persons who compiled this report may have an interest in securities commented on in this report.

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