Day: 26 February 2022

Last week was a tough one for investors, with the S&P/ASX 200 Index (ASX: XJO) having its worst showing since 2020. Over the five days, the benchmark index lost 3.1% of its value to end the period at 6,997.8 points.

While a good number of shares dropped with the market, some fell more than others. Here’s why these were the worst performing ASX 200 shares last week:

Appen Ltd (ASX: APX)

The Appen share price was the worst performer on the ASX 200 last week with a 21.6% decline. Investors were selling down this artificial intelligence data services company’s shares following the release of its full year results. That release revealed that Appen delivered a 3% increase in underlying EBITDA to US$77.7 million in FY 2021, which fell short of its revised guidance. Management’s lack of guidance for FY 2022 also weighed on sentiment.

PointsBet Holdings Ltd (ASX: PBH)

The PointsBet share price wasn’t far behind with its decline of 20.2%. At the start of the week, this sports betting company’s shares came under fire due to the release of a disappointing update from rival DraftKings. Its shares crashed after revealing a loss of US$326 million for the fourth quarter. It also warned that it was likely to make a loss of US$1 billion in FY 2022. A selloff in the tech sector later on in the week also put pressure on PointsBet’s shares.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The Domino’s share price was out of form and tumbled 18.9% last week. Investors were selling the pizza chain operator’s shares after its half year earnings fell short of expectations. Domino’s reported an 11.1% increase in network sales but a 5.3% decline in underlying net profit after tax to $91.3 million. This earnings miss was driven by the underperformance of its Asian operations.

Magellan Financial Group Ltd (ASX: MFG)

The Magellan share price continued its slide and dropped a further 18.1% over the five days. A good portion of this decline came on Friday when the embattled fund manager revealed that its funds under management (FUM) has declined again over the last two weeks. Magellan advised that its total FUM now stands at $77.2 billion, which is down 11.4% since its last update on 11 February.

The post These were the worst performing ASX 200 shares last week appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• These 3 ASX 200 shares are topping the volume charts this Friday
• Why Blackmores, BWX, Kogan, and Magellan shares are dropping
• Why Adbri, Appen, Block, and Life360 shares are storming higher
• Here’s why the Appen (ASX:APX) share price is racing 14% higher today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Appen Ltd and Pointsbet Holdings Ltd. The Motley Fool Australia owns and has recommended Appen Ltd. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited and Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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While the outlook for interest rates is certainly improving, it looks likely to still be some time until rates reach levels that investors could earn a sufficient income from savings accounts and term deposits.

In light of this, the dividend shares listed below could be top options for income investors for the foreseeable future. Here’s what you need to know about them:

Charter Hall Social Infrastructure REIT (ASX: CQE)

The first ASX dividend share to look at is the Charter Hall Social Infrastructure REIT. As its name implies, this real estate investment trust invests in social infrastructure properties. These properties, which are on very long leases, include bus depots, police and justice services facilities, and childcare centres.

Goldman Sachs is positive on the company and currently has a conviction buy rating and $4.20 price target on its shares. The broker was pleased with its half year results, highlighting its solid like for like rental growth, 100% occupancy, and weighted average lease expiry of 14.6 years.

As for dividends, Goldman is forecasting dividends per share of 17.2 cents in FY 2022 and 18.3 cents in FY 2023. Based on its current share price of $3.80, this implies yields of 4.5% and 4.8%, respectively.

Coles Group Ltd (ASX: COL)

Another ASX dividend share for investors to consider is Coles. It is of course one of the big two supermarket chains, operating over 800 supermarkets. It also operates over 900 liquor retail stores and more than 700 Coles Express stores

This strong network, its defensive qualities, and track record of same store sales growth, has analysts predicting growing dividends in the coming years.

For example, analysts at Morgans are forecasting fully franked dividends of 61 cents per share in FY 2022 and then 63 cents per share in FY 2023. Based on the current Coles share price of $17.49, this will mean yields of 3.5% and 3.6% respectively.

Morgans also sees decent upside for its shares. The broker currently has an add rating and $19.70 price target on its shares.

The post These ASX dividend shares have been given buy ratings by analysts appeared first on The Motley Fool Australia.

More reading

• The oil price has just hit an 8-year high. What might this mean for ASX shares?
• These are some of the only ASX shares in the green today. Here’s why
• Top brokers name 3 ASX shares to buy today
• The market responds to Russian aggression and COVID costs crimp Coles. Scott Phillips on Nine’s Late News
• Why Cochlear, Coles, Costa, and Monadelphous shares are racing higher

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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