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.

Price volatility low in ICTOP10

Volatility was low in ICTOP10 in the past week with the highest price change coming in at 6 percent, following moderate declines in the Junior Market and the Main Market
The Junior Market ICTOP10, Iron Rock Insurance climbed just 4 percent to $2.18. Caribbean Cream fell 6 percent to $3.75 followed by Access Financial, down 5 percent to $20.
In the Main Market, Margaritaville and Palace Amusement rose by 6 percent to close at $15.95 and $1.06 respectively and Key Insurance fell 4 percent to $2.39. Of note is that Berger Paints fell 3 percent to close at $8.26, trading at a 52 weeks’ high of $10.10 on Friday as the stock closed with a big gap between buyers and sellers.
Lasco Financial was the only new addition to the ICTOP10 for the week replacing Edufocal that was suspended from trading during the week for not meeting the financial statement filing.
The average PE for the JSE Main Market ICTOP 10 stands at 5.1, well below the market average of 14.1 and the Junior Market TOP10 sits at 6.8, just over half of the market, with an average of 12.6.
The Main Market ICTOP10 is projected to gain an average of 292 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 209 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 24 for the top half and 16 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 11 stocks, or 24 percent of the market, with PEs ranging from 15 to 47, averaging 21, well above the market’s average. The average PE in the top half of the market is 17 and is 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.

Three additions to ICTOP10

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In a week of volatility in the Junior Market and a calmer Main Market, the Junior Market TOP10 has one new addition and the Main Market two after five Junior Market stocks posted notable moves and three in the Main Market.
Dropping from the ICTOP10 are Dolla Financial from the Junior Market and Lasco Manufacturing and Jamaica Broilers from the Main Market.
The Junior Market ICTOP10, AMG Packaging, climbed 12 percent to $3.25, 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.
In the Main Market, Pulse Investments popped 9 percent to close at $1.75, JMMB Group rose 4 percent to $24.51 while Berger Paints fell 6 percent to close at $8.
Lumber Depot is the only new listing for the Junior Market ICTOP10 for the week, this follows the announcement by the company of the purchase of a 35 percent interest in Atlantic Hardware. Earnings per share for the current fiscal year starting June, is projected at 35 cents by ICInsider.com. General Accident and VM Investments are new additions to the Main Market ICTOP10. VMI posted b first quarter results with gains from securities providing the bulk of the profits. Some of these gains are from the one off sale of its associate company. With the investing environment slowly improving, the company appears set to enjoy a profitable year, accordingly, ICInsider.com’s estimate is for earnings of 50 cents per share, which could be bettered if investments deliver more returns in the next three quarters.
The average PE for the JSE Main Market ICTOP 10 stands at 5.1, well below the market average of 13.6 and the Junior Market TOP10 sits at 6.4, just over half of the market, with an average of 12.5.
The Main Market ICTOP10 is projected to gain an average of 298 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 16 of the most highly valued stocks representing 31 percent of the Main Market are priced at a PE of 15 to 86, 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 11 stocks, or 24 percent of the market, with PEs ranging from 15 to 43, averaging 21, well above the market’s average. The average PE in the top half of the market is 17 and is 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.

3 new additions to ICTOP10

In a week when most results for the 2024 first quarter were released, the JSE Jamaica Stock Exchange junior market had major swings while the Main Market continued to record gains. Only three stocks in the IC TOP10 recorded notable gains while 4 suffered sizable declines, the impact was that 3 new stocks entered the TOP10.
Dropping from the ICTOP10 this week are ISP Finance from the Junior Market and from the Main Market General Accident and Scotia Group. Earnings for ISP Finance were adjusted to $1.60 per share to reflect what the first quarter results suggest. Prices of General Accident and Scotia Group moved up slightly and were replaced by stocks that had lower prices by the end of the week.
tTech gained 9 percent to close at $2.20 following the company reporting earnings for the first quarter. Based on the report and other data, earnings for the current year have expanded to 35 cents per share, up from 30 cents originally projected. This is the only major upward price move in the week, for the Junior Market ICTOP10 as AMG Packaging, fell 17 percent $2.89, followed by Access Financial and Caribbean Assurance Brokers each down 9 percent to close at $18.00 and $3.20 respectively and ISP Finance chipped in with a 5 percent fall to $28.01 had your full cup chopped 4 percent to $0.90.
In the Main Market, Berger Pant, added to the list last week, jumped 17 percent to close at $8.50. Compared to last week, more sellers came into the market than at the close the previous week, but that did not prevent the stock from posting gains of 70 percent just before the company released results during the last week. selling in the stock is moderate below $12. Palace Amusement rose 6 percent to $1.08, while there were no major losses in the market during the week.
Dolla Financial is the only new listing for the ICTOP10 Junior Market for the week. In the Main Market, Pulse Investments and Lasco Manufacturing which dropped out of the list last week, are now in the ICTOP10.
The average PE for the JSE Main Market ICTOP 10 stands at 5.2, well below the market average of 13.3 and the Junior Market TOP10 sits at 7.3, just over half of the market, with an average of 12.6.
The Main Market ICTOP10 is projected to gain an average of 288 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 220 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 are priced at a PE of 15 to 79, with an average of 32 and 20 excluding the highest PE ratios, and a PE of 20 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 41, averaging 20, well above the market’s average. The average PE in the top half of the market is 17, possibly the lowest fair value 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.

60% explosion for ICTOP10 stock of the week

Caribbean Assurance Brokers (CAB) surged a solid 60 percent at the close of the week, confirming ICInsider.com projections that placed it at the top of the ICTOP10 Junior Market list for the week. The stock which traded as high as $3.80 in the week, closed at $3.52 and still has much more to do, with ICInsider.com projecting earnings at 65 cents per share for this year.
Based on closing bids and offers for CAB, the price could pull back, with most buyers still trying to get stocks below $3. The first quarter results expected this week could change that, also expected are results for the majority of companies.
There are no new listings for the ICTOP10 Junior Market for the week but in the Main Market, Berger Paints returns to the ICTOP10, for the first time since August, last year, now with projected earnings of $1.60 for the current year following solid profit in the first quarter. The newly reported figures suggest that last year’s bad results may be behind it for now.
The stock jumped 45 percent in the week and ended with 13,461 units on offer at $7.23 with the rest at $11.50 and above, but it had weak buying interest at the close. Berger replaces Lasco Manufacturing which drops out of the TOP10, with a rise in price.
General Accident and Lasco Manufacturing jumped 8 percent to close at $6.99 and $5.47 respectively, in the Main Market IC TOP10, while Margaritaville rose 5 percent to $1 and Palace Amusement dropped 6 percent to $1.02. Junior Market ICTOP10 witnessed a 9 percent fall in tTech to close at $2.01, with Access Financial ending with a loss of 6 percent in closing at $19.85.
The average PE for the JSE Main Market ICTOP 10 stands at 5.2, well below the market average of 12.6 and the Junior Market TOP10 sits at 6.5, just over half of the market, with an average of 12.3.
The Main Market ICTOP10 is projected to gain an average of 290 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 217 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 are priced at a PE of 15 to 91, with an average of 25 and 20 excluding the highest PE ratios, and a PE of 20 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 43, averaging 20, well above the market’s average. The average PE in the top half of the market is 17, possibly the lowest fair value 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.

New ICTOP10 addition to explode

After a prolonged hiatus, the local general insurance Main Market listed, General Accident came to life during the week and hit a series of 52 weeks’ highs, to close at $6.50, with a rise of 8 percent. The company closed with few stocks on offer, a feature over the past few weeks. The price could get ignited in the coming weeks following better than expected audited results for fiscal years 2022 and 2023 that were revised upward from previously reported numbers.

General Accident spreading wings

General Accident originally reported $0.39 per share in earnings for 2023 based on in-house numbers and released audited accounts with earnings of $0.52 per share, with that for 2022 revised to $0.71 from $0.53 previously reported in the audited 2022.
The 2022 results now reflect the impact of IAS17 which requires insurance companies to report income and expenses dramatically differently from the previously used format.
Caribbean Assurance Brokers (CAB) a former 2023/24 ICTOP10 company, reported solid gains in profit for 2023 compared to 2022. Earnings were downgraded when the company reported disappointing third quarter numbers. The latest audited results show the company earning $0.47 per share in line with ICInsdier.com’s projection before the release of the third quarter results with a fall in revenues and profit. The compared reported earnings per share of $0.30 in the previous year. The change in the 2023 results along with increased projections for 2024 resulted in the company returning to the TOP10 with projected earnings of $0.65, with the potential to report gains in the stock price of 500 percent.
CAB replaces Dolphin Cove after closing at a 52 weeks’ high of $20.03. Coming into the Main Market ICTOP 10 is Lasco Manufacturing with projected earnings for the current fiscal year ending March 2025 of $0.85 per share replacing Pulse Investments.
The main market top 10 saw Margaritaville falling 15 percent to $14.25 during the week followed by JMMB Group down 7 percent to $23.60, while Palace Amusement rose 6 percent to $1.08. Junior Market ICTOP10 witnessed an 8 percent gain in Edufocal to close at $0.96, with losses in Iron Rock Insurance of 12 percent to close at $2.20 and a 6 percent contraction in the price of AMG Packaging to $3.40.
The average PE for the JSE Main Market ICTOP 10 stands at 5.3, well below the market average of 13.1 and the Junior Market TOP10 sits at 6.9 over half of the market, with an average of 12.7.
The Main Market ICTOP10 is projected to gain an average of 284 percent by May 2025, based on 2024 forecasted earnings, providing better values than the Junior Market with the potential to gain just 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 103, with an average of 31 and 23 excluding the highest PE ratios, and a PE of 25 for the top half and 19 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 11 stocks, or 24 percent of the market, with PEs ranging from 15 to 45, averaging 21, well above the market’s average. The average PE in the top half of the market is 17, possibly the lowest fair value 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 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.

Robust gains for several ICTOP10 stocks

During the just-concluded trading week, the Main Market slipped from the previous week’s close, while the Junior Market closed with a marginal loss, with many notable price changes primarily in the Junior Market ICTOP10, but there was just one Main Market price change of note and one change to the TOP10 listing.
In market activity during the week, the only price movement of note in the Main Market is Margaritaville, up 10 percent to $15.53. On the other hand, the Junior Market ICTOP10 has 5 stocks with price changes of note. Iron Rock Insurance topped the list with a gain of 15 percent to $2.52 followed by AMG Packaging up 12 percent to $3.59. Caribbean Cream climbed 9 percent to $4.24, while Consolidated Bakeries popped 8 percent to $2.18 and Access Financial gained 6 percent to $21.12. Two declining Junior Market stocks suffered losses of 3 and 2 percent.
The price of Scotia Group closed the week at $44.88, with the stock returning to the Main Market TOP10 and pushed Jamaica Broilers out, with the price rising a mere one percent to $33.13.
The average PE for the JSE Main Market ICTOP 10 stands at 5.5, well below the market average of 13.2 and the Junior Market TOP10 sits at 7.4 over half of the market, with an average of 12.6.
The Main Market ICTOP10 is projected to gain an average of 271 percent by May 2025, based on 2024 forecasted earnings, providing better values than the Junior Market with the potential to gain 178 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 105, with an average of 31 and 23 excluding the highest PE ratios, and a PE of 24 for the top half and 19 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 10 stocks, or 22 percent of the market, with PEs ranging from 15 to 44, averaging 21, well above the market’s average. The top half of the market has an average PE of 17, possibly the lowest fair value for stocks, currently.
Of great import is that the averages of both markets are now converging around a PE of 20 for close to a third of the market, as the year is coming to a close and with more information available on the full year’s earnings.
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 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.

Scotia & Express Catering depart ICTOP10

In a week of the market ups and downs with Scotia Group and Express Catering dropping out of the ICTOP10 listing. Price movements in the TOP10 have been notable, with Express Catering at long last making a move higher in adding 10 percent, to close at $4.45, but the potential of the stock is held back by the company’s poor corporate governance practices highlighted by the fact that loan funding is used to on-lend to related group companies, with no benefit to the company’s to the company, with the company giving up more than US$1 million per year.
In a review of the ICTOP10, the earnings for the current year were confirmed at 45 cents for AMG Packaging, following the release of six months’ results on Friday, showing profit up 78 percent for the latest quarter and the half year while tTech earnings were projected for the current year at 30 cents per share pushing the stock in the TOP10.
In market activity during the week, Caribbean Cream climbed 9 percent to $3.90, but Iron Rock Insurance fell 12 percent to $2.20 followed by Edufocal, down 10 percent to an all time low of 93 cents while Consolidated Bakeries slipped 8 percent to $2.01. In the Main Market, Key Insurance rose 12 percent to $2.48 and 138 Student Living rose 6 percent to $4.18 while Margaritaville dropped 12 percent to $14.10.
tTech is a new addition to the Junior Market ICTOP10 with the increase in projected earnings for 2024, replacing Express Catering and in Main Market TOP10, Jamaica Broilers returns, edging out the undervalued Scotia Group. Jamaica Broilers another severely undervalued stock with good long term growth prospects returns to the TOP10.
It is worth noting that Honey Bun that was last in the TOP10 in the week ending March 8 and hit a 52 weeks’ high of $7.92 this week to be up 18 percent since it was added to the listing in mid-February at $6.69. The price should continue to increase throughout 2024.
The average PE for the JSE Main Market ICTOP 10 stands at 5.5, well below the market average of 13.2 and the Junior Market TOP10 sits at 7.4 over half of the market, with an average of 12.6.
The Main Market ICTOP10 is projected to gain an average of 273 percent by May 2025, based on 2024 forecasted earnings, providing better values than the Junior Market with the potential to gain 191 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 107, with an average of 32 and 23 excluding the highest PE ratios, and a PE of 25 for the top half and 19 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 9 stocks, or 20 percent of the market, with PEs ranging from 15 to 44, averaging 22, well above the market’s average. The top half of the market has an average PE of 17, possibly the lowest fair value for stocks, currently.
Of great import is that the averages of both markets are now converging around a PE of 20 for close to a third of the market, as the year is coming to a close and with more information available on the full year’s earnings.
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.
ICTOP10 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 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.

 CPJ enters ICTOP10 Broilers out

With what has become the norm, the markets pulled back to start April from the pump-up end of month prices in March, resulting in varied outcomes for the ICTOP10 and ending with Jamaica Broilers falling from the Main Market TOP10 and Caribbean Producers entering at the number 9 spot.

There were no changes to the list of companies in the Junior Market TOP10 this past week.
Caribbean Producers is the primary supplier of foods and beverages to the growing tourist industry on the north coast of Jamaica and St Lucia, the company is also expanding its meat processing arm as well as retail areas in both countries. ICInsider.com’s projected EPS is $1.35 for the fiscal year to June 2024. With plans for long term growth in the local tourism sector, the company has a B base for growth for many years to come.
Jamaica Broilers although out of the TOP10, is undervalued and possesses good long term growth prospects as they constantly spend resources to expand or modernise the operation.
In Main Market activity this past week, General Accident jumped 16 percent to $6.15, a 52 weeks’ high, with buying interest in recent weeks, being very high and active supply in the market low, a recipe for higher prices ahead and Key Insurance lost 14 percent to end at $2.22.
The Junior Market closed the week with a 17 percent jump for Iron Rock Insurance to $2.51 while Consolidated Bakeries gained 8 percent to $2.19 but Jamaican Teas dropped 13 percent to $2.40 and Caribbean Cream lost 8 percent to land at $3.58 while Express Catering and Access Financial fell by 7 percent to $3.70 and $19.86 respectively.
The average PE for the JSE Main Market ICTOP 10 stands at 5.5, well below the market average of 13.1 and the Junior Market TOP10 sits at 7.2 over half of the market, with an average of 12.5.
The Main Market ICTOP10 is projected to gain an average of 274 percent by May 2025, based on 2023 forecasted earnings, providing better values than the Junior Market with the potential to gain 183 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 106, with an average of 30 and 27 excluding the highest PE ratios, and a PE of 24 for the top half and 21 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 9 stocks, or 20 percent of the market, with PEs ranging from 15 to 50, averaging 22, well above the market’s average. The top half of the market has an average PE of 17, possibly the lowest fair value for stocks, currently.
Of great import is that the averages of both markets are now converging around a PE of 20 for close to a third of the market, as the year is coming to a close and with more information available on the full year’s earnings.
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 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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