Day: 18 November 2022

The S&P/ASX 200 Index (ASX: XJO) is ending the week on a positive note. In afternoon trade, the benchmark index is up 0.4% to 7,165.5 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price is down 3% to $5.96. This morning, the infant formula company released an update at its annual general meeting. While A2 Milk expects currency tailwinds to lead to stronger revenue growth in FY 2023, it now expects its EBITDA margin to be flat. This compares to previous guidance for a modest improvement.

Cettire Ltd (ASX: CTT)

The Cettire share price has sunk 14% to $1.44. This follows news that the company’s CEO has sold down his holding. The online luxury products retailer’s CEO, Dean Mintz, sold 41 million shares at a 13% discount of $1.46 per share. This equates to a total consideration of approximately $60 million.

Coronado Global Resources Inc (ASX: CRN)

The Coronado share price is down over 6% to $1.91. The catalyst for this has been the coal miner’s shares trading ex-dividend on Friday morning. At the end of last month, Coronado declared a special dividend of 13.4 US cents per share. This equates to approximately 20 Australian cents per share. Coronado will be paying this dividend on 12 December.

Perpetual Limited (ASX: PPT)

The Perpetual share price is down a further 2.5% to $26.92. Investors have been selling this fund manager’s shares after the courts pressured it to complete its acquisition of Pendal Group Ltd (ASX: PDL). This effectively rules out its own takeover by private equity. Analysts at Credit Suisse now expect the merger to complete and have downgraded its shares to a neutral rating with a reduced price target of $27.50.

The post Why A2 Milk, Cettire, Coronado, and Perpetual shares are dropping appeared first on The Motley Fool Australia.

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More reading

• Why is this ASX 200 coal share crashing 9% today?
• Guess which All Ords insider is selling a whopping $60m worth of their company’s shares
• A2 Milk share price tumbles on trading update and chair exit
• 5 things to watch on the ASX 200 on Friday
• Why did the Perpetual share price just plummet 14%?

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 has recommended A2 Milk and Cettire Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) looks like it is on track to end the trading week on a high, building on yesterday’s gains. So far this Friday, the ASX 200 has added another 0.4%, putting it back above the 7,160-point mark

But time now to dig deeper into these gains. So let’s take a look at the ASX 200 shares currently at the top of the share market’s trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Friday

Whitehaven Coal Ltd (ASX: WHC)

Our first share up this Friday is the ASX 200 coal miner Whitehaven. So far today, a hefty 21.51 million Whitehaven shares have been dug up and sold. There’s been no new news or announcements from the company that could explain this high volume.

However, the Whitehaven share price itself has been rather indecisive today. At present, the ASX coal share is up a healthy 1.96% at $8.32 a share. But we’ve seen some big rises and falls over the trading day so far.

It’s probably this bouncing around that has given Whitehaven the kinds of volume figures we are seeing.

Pilbara Minerals Ltd (ASX: PLS)

Next up is the ASX 200 lithium giant Pilbara Minerals. This Friday has had a sizeable 23.4 million Pilbara shares trade hands as it currently stands. There hasn’t been much out of Pilbara today either.

Saying that, the company did hold its annual general meeting yesterday, which caused quite a stir when the company announced that it is looking to pay out its maiden dividend next year.

Investors don’t seem too impressed though, with Pilbara losing steam yesterday and shedding 2.2% so far today. It’s probably the size of this drop that is eliciting the elevated volumes we are seeing.

Sayona Mining Ltd (ASX: SYA)

Our third, final and most traded ASX 200 share of the day thus far is another lithium stock in the form of Sayona Mining. A whopping 59.33 million Sayona shares have been bought and sold on the share market as of the time of writing.

The Sayona share price has taken a battering today, with the company losing just over 3.5% at present, putting it at 22 cents a share. But the cause of these high volumes probably relates to the dump of new Sayona shares that hit the market this morning.

As my Fool colleague Brooke covered earlier, Sayona has issued 185 million new shares to fund its purchase of exploration claims in Canada’s Greenstone Belt. That’s more than enough to boost daily trading volumes. 

The post Here are the 3 most heavily traded ASX 200 shares on Friday appeared first on The Motley Fool Australia.

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More reading

• Why were 185 million new Sayona Mining shares just issued?
• Considering CSL shares? Broker says this other ASX 200 healthcare share has 30% upside
• Here is the Pilbara Minerals dividend forecast through to 2025
• Whitehaven share price: ‘incredibly expensive’ or ‘ridiculously cheap’?
• 5 of the craziest things making news on the ASX this week

Motley Fool contributor Sebastian Bowen 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 has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The NIB Holdings Limited (ASX: NHF) share price is outperforming all its peers on Friday after the company used its annual general meeting (AGM) to reveal a strong start to financial year 2023.

Headlining the growth, the insurer’s net profit after tax (NPAT) came in at $84.1 million for the first four months of the fiscal year – marking a 31.2% increase on that of the prior comparable period.

Right now, the NIB share price is $7.105, 2.97% higher than its previous close.

For comparison, the S&P/ASX 200 Index (ASX: XJO) is up 0.26% at the time of writing.

Meanwhile, the S&P/ASX 200 Financials Index (ASX: XFO) has lifted 0.48%, with NIB coming in as the best-performing stock in the sector.

Let’s take a closer look at what’s helping to drive the health insurer’s stock on Friday.

NIB stock lifts on early FY23 growth

The NIB share price is outperforming on Friday on the back of a trading update for the first four months of financial year 2023.

Between July and October, the health insurer clocked up $940.4 million of premium revenue – a 4.7% year-on-year jump – and a $109.5 million underlying operating profit, marking a 16.3% increase.

Looking at its individual segments, its travel business’ gross written premiums soared 669% in that time to $70.8 million as sales lifted 381% to 257,320.

Meanwhile, the number of policyholders signed up to its Australian residents health insurance grew 4% over the 12 months ended October, and that of its New Zealand business lifted 5.1%.

However, its international inbound health insurance business’ policyholders slipped 0.3%.   

Finally, NIB noted its investment income has been volatile lately, but was strong in October. Its investment income is now $21.7 million year-to-date, helping bolster NPAT growth.

Looking to the future, the company is growing its Honeysuckle Health joint venture and looking for more acquisitions in the National Disability Insurance Scheme (NDIS) space.

NIB chair David Gordon commented at the company’s AGM:

The NDIS is a vital part of Australia’s social capital. It delivers services to more than half a million participants … Currently about 56% of participants use a plan manager, and this is forecast to grow to 60%-70% by 2030.

Earlier this month we completed our first acquisition, Maple Plan … We plan to buy a number of other plan managers and link the buyers and sellers here in the same way as we do in the healthcare sector.

NIB share price snapshot

Plenty of eyes have likely been on the NIB share price in recent times as its health insurance peer Medibank Private Ltd (ASX: MPL) became a headline mainstay amid a major cyberattack.

While the Medibank share price has tumbled 19% over the last 30 days, that of NIB has lifted 5%.

Though, NIB shares have slipped 3% year to date and are trading flat over the last 12 months.

That leaves them in better stead than the broader ASX 200. The index has fallen 6% year to date and 3% over the last 12 months.

The post NIB share price surges ahead as profits soar 31% appeared first on The Motley Fool Australia.

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More reading

• Movies and health: Fund loves 2 ASX shares that have gone nowhere till now
• Is the NIB share price benefitting from Medibank’s woes?
• Why Chalice Mining, Core Lithium, Corporate Travel Management, and NIB are rising

Motley Fool contributor Brooke Cooper 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 has recommended NIB Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It’s probably fair to say that most investors don’t associate CSL Ltd (ASX: CSL) shares with dividend income. After all, this is an ASX dividend share with a yield that rarely exceeds 1%.

But CSL actually has a strong and rather impressive history as an ASX dividend share. It paid out its maiden dividend back in 2013, forking out US$1.02 per share over the year.

Since then, CSL has been ratcheting up its annual dividend payments every single year. That includes the COVID-affected 2020.

That’s with the exception of 2022, which has seen CSL pay out the same US$1.22 per share that it did over 2021.  

Even so, this 8-year streak of annual pay rises is about as good a start as a dividend share can get.

But this leads us to our question of the day: how much dividend income will $20,000 worth of CSL shares buy for an ASX investor right now?

What kind of dividend income can one expect from CSL shares?

Well, at the current share price of $293.26 that CSL is asking today (at the time of writing), $20,000 would buy us 68 CSL shares, with some change left over.

So in 2022, CSL has paid out an interim dividend worth US$1.04 per share, and a final dividend worth US$1.18 per share. That was worth $1.4223 and $1.7583 in our local currency respectively. The final dividend came partially franked at 10%, while the interim dividend was unfranked.

So our 68 CSL shares would have yielded us a total of $96.76 when the interim dividend was paid out, and $119.56 for the final dividend. That’s a total of $216.32 for the year. So our $20,000 worth of CSL shares would result in a dividend income worth $216.32, or 1.08% of our cost base.

No doubt investors will appreciate this income in what has been a difficult period for CSL. The CSL share price remains down by 0.8% over 2022 thus far, and down 6% over the past 12 months. The company is still trading below its pre-COVID highs of almost $340 a share.

The post How much dividend income will $20,000 worth of CSL shares buy right now? appeared first on The Motley Fool Australia.

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More reading

• Considering CSL shares? Broker says this other ASX 200 healthcare share has 30% upside
• Experts name 2 ASX 50 shares to buy
• Which stocks are in the Vanguard Australian Shares Index ETF (VAS) right now?
• How to have your ASX 200 dividend cake and eat it too
• Looking to buy CSL shares? Why this fundie is tipping ‘double-digit earnings growth’

Motley Fool contributor Sebastian Bowen has positions in CSL Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a gain. At the time of writing, the benchmark index is up 0.3% to 7,158.8 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are rising:

Arafura Rare Earths Ltd (ASX: ARU)

The Arafura share price has continued its sensational run and is up a further 13% to 46 cents. Investors have been buying this rare earths developer’s shares this week after it announced that the Mining Management Plan for its 100% owned Nolans Neodymium-Praseodymium (NdPr) project has been approved by the Northern Territory Government.

Nanosonics Ltd (ASX: NAN)

The Nanosonics share price is up 2.5% to $4.63. This follows the release of the infection prevention company’s annual general meeting update. Nanosonics revealed that for the four months to 31 October, total revenue came in at $52.6 million. This is up 42% compared to the prior corresponding period and up 36% in constant currency.

NextDC Ltd (ASX: NXT)

The NextDC share price is up almost 3% to $9.57. Investors have also been buying this data centre operator’s shares following the release of an annual general meeting update. At the meeting, NextDC reaffirmed its FY 2023 guidance for revenue growth of 17% to 22% and EBITDA growth of 12% to 17%.

OZ Minerals Limited (ASX: OZL)

The OZ Minerals share price is up 4% to $27.38. This has been driven by news that the company has accepted an improved takeover offer from mining giant BHP Group Ltd (ASX: BHP). The Big Australian has been granted due diligence access after increasing its non-binding offer from $25.00 per share to $28.25 per share. This “best and final” offer represents a 49.3% premium to where OZ Mineral’s shares were trading prior to the initial proposal.

The post Why Arafura, Nanosonics, NextDC, and OZ Minerals shares are rising today appeared first on The Motley Fool Australia.

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More reading

• Why is the OZ Minerals share price racing higher on Friday?
• OZ Minerals share price on watch after accepting BHP’s $28.25 per share takeover offer
• Is a weak US dollar good for ASX 200 mining shares?
• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX 200 shares today

Motley Fool contributor James Mickleboro has positions in NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Nanosonics Limited. The Motley Fool Australia has positions in and has recommended Nanosonics Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The All Ordinaries Index (ASX: XAO) has slipped more than 5% year to date, but there are still shares within the index that fundies recommend.

One such All Ords share is PSC Insurance Group (ASX: PSI), with one portfolio manager saying it’s a buy.

PSC shares are rising nearly 5% in today’s trade, outperforming the All Ords Index, which is currently up 0.2%

Let’s take a look at why this All Ords share is considered a buy.

What is it about this ASX All Ords share?

PSC Insurance operates multiple insurance services companies in Australia, the United Kingdom, and New Zealand.

QVG Capital portfolio manager Josh Clark recommends the PSC Insurance Group share price as a buy. Commenting on his reasons on Livewire, Clark said:

That one’s a buy. If you had a category of bottom drawer stocks, I’d pick that one for that.

You can sleep soundly at night with PSC Insurance, knowing that there’s a significant portion of insider ownership within the business that has a really prudent track record of capital allocation.

PSC achieved a record underlying earnings result in the 2022 financial year. Underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) surged 30% to $93.5 million.

In the 2022 financial year, PSC made multiple acquisitions including Alliance Insurance Brokers and Alan Wilson Insurance Brokers in Victoria.

So far in FY23, the ASX All Ords share has taken over Charter Union Insurance Brokers in Hong Kong. On 4 November, PSC also advised it has signed binding transaction documents to acquire Ensurance UK Ltd.

Commenting further on why he likes the PSC Insurance Group share price, Clark said the company has achieved “something like an 18% earnings per share (EPS) compound annual growth rate over the last five years”.

Clark highlighted the company’s mergers and acquisitions (M&A) strategy has underpinned the company’s earnings results, adding:

And then M&A is the real big one. That’s how they’ve really managed to juice that earnings growth, by prudently acquiring and integrating, paying the right price for similar businesses and folding them in. So I think that one’s a buy.

PSC Insurance share price snapshot

PSC Insurance Group shares have climbed around 10% in the past year and 8% year to date.

For perspective, the All Ordinaries Index has lost nearly 5% in the past year.

PSC Insurance has a market capitalisation of about $1.8 billion based on the current share price.

The post Buy this ASX All Ords share to ‘sleep soundly at night’: fundie appeared first on The Motley Fool Australia.

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More reading

• 3 small-cap ASX shares to add to your portfolio right now: fundie

Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended PSC Insurance Group. The Motley Fool Australia has recommended PSC Insurance Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Aristocrat Leisure Limited (ASX: ALL)

According to a note out of Goldman Sachs, its analysts have retained their buy rating and lifted their price target on this gaming technology company’s shares to $42.80. This is despite the release of a full year result that was slightly below its estimates. Goldman revealed that it remains positive on the company due to its top three spot in slot machine sales in the US, strong digital gaming offering, and launch into the growing iGaming market. The Aristocrat share price is trading at $36.50 this afternoon.

Seek Limited (ASX: SEK)

A note out of Credit Suisse reveals that its analysts have retained their outperform rating and $35.10 price target on this job listings giant’s shares. This follows the release of an update at the company’s annual general meeting which revealed that it is on course to achieve its revenue and earnings guidance for FY 2023. Credit Suisse was pleased with this and notes that the quality of Seek’s earnings is improving as it commands greater ad yields. The Seek share price is fetching $21.63 today.

Webjet Limited (ASX: WEB)

Analysts at Morgans have retained their add rating on this online travel agent’s shares with an increased price target of $7.20. According to the note, the broker was impressed with Webjet’s first half performance, noting that its result was ahead of expectations. Looking ahead, Morgans highlights that Webjet has plenty of market share to win over the coming years, which should underpin a strong earnings growth profile. Combined with higher margins and a much stronger balance sheet, it believes Webjet now deserves a PE rerating. The Webjet share price is trading at $6.09 on Friday.

The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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More reading

• Goldman Sachs tips Webjet share price to keep rising
• 5 of the craziest things making news on the ASX this week
• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX 200 shares today
• 3 ASX 200 shares that announced supersized dividends this week

Motley Fool contributor James Mickleboro has positions in SEEK Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended SEEK Limited and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Nuix Ltd (ASX: NXL) share price is shooting the lights out, up 19.3% to 68 cents following the technology company’s annual general meeting (AGM) today.

By comparison, the S&P/ASX All Ordinaries Index (ASX: XAO) is up just 0.27% and the S&P/ASX 200 Information Technology Index (ASX: XIJ) is up 0.35%.

Today’s share price bounce is likely a result of the CEO reassuring shareholders that the company’s “transformation” was on track, with “preliminary evidence of improvement … in our results for the four months to October”.

Let’s see what the Nuix leadership had to say at today’s meeting.

FY23 trading update launches Nuix share price skyward

In his speech, Nuix Group CEO Jonathan Rubinsztein referred to what they’re calling Nuix 2.0, a “transformation” of the company that is designed to “drive a clear shift in results by August 2023”.

Rubinsztein said:

Annualised Contract Value (ACV) at the end of October was $169.5 million, up 4.6% from June of this
year.

Net dollar retention, another important indicator of success with our existing customer base, rose to
101.9%, compared to 96.8% in June…

Our customer relationships remain strong, with Churn at 5.5%, which is slightly higher than the
outcome of 5.4% at the full year result, however this is more than offset by the increase in upsell.

We are also seeing encouraging signs of net new customers, which is contributing to the lift in ACV.

It’s particularly pleasing to see these critical measures tracking positively at this early stage of our
refresh.

Rubinsztein said Nuix’s balance sheet has a cash balance of $40.5 million and no debt. Additional metrics for the first four months of FY23 were shown in a presentation.

Helping companies combat cyber attacks

Nuix has just released a data privacy solution that Rubinsztein says “is the first example of how we position Nuix innovation to customer needs”.

He said:

… I think we’re all aware of how critical Data Privacy has become to large organisations.

With the Nuix Data Privacy offering, customers can identify and manage sensitive customer data.

Our software not only identifies risks in privacy data, but helps to map and locate sensitive data, meet retrieval obligations for regulatory and other requests, defensibly delete and decommission data where necessary, and optimise processing.

Rubinsztein added that Nuix has many other cybersecurity products in the pipeline “such as Fraud, Inquiry-Readiness and Cyber Breach Response”.

Nuix share price down 76% in 12 months

Rubinsztein acknowledged that it “hasn’t been an easy year” for shareholders and “I would understand if you were concerned”.

But he encouraged shareholders to have faith in the changes being made in the business and the positive results seen so far in FY23.

He said he believed Nuix would become “an awesome purpose driven, profitable company.”

He concluded:

At its core, Nuix has the potential to be a truly great Australian tech success, one that is played out on a world stage, and it is my job — and my commitment – to help realise this potential.

The post Why is the Nuix share price eyeing a 20% jump on Friday? appeared first on The Motley Fool Australia.

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More reading

• Brokers name 3 ASX shares to buy today
• Why were 185 million new Sayona Mining shares just issued?
• Here’s the forecast for ASX 200 shares in 2023: UBS
• Outlook for Treasury Wine shares ‘is just phenomenal’: expert
• Why is this ASX 200 coal share crashing 9% today?

Motley Fool contributor Bronwyn Allen 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 has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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ASX lithium fans might have noticed a new influx of Sayona Mining Ltd (ASX: SYA) shares hitting the market this morning.

The company issued a whopping 185 million new shares – valued at $44.5 million based on its 20-day volume weighed average price. That represents around 2% of the lithium explorer’s outstanding shares, as per ASX data.

So, what spurred the company to issue such a substantial parcel of stock? Keep reading to find out.

The Sayona share price is trading at 22 cents right now, 2.22% lower than its previous close. For comparison, the S&P/ASX 200 Index (ASX: XJO) is up 0.26% right now.

Sayona Mining just issued 185 million new shares

The Sayona share price is in the dumps on Friday. Its slump comes amid the latest on the mineral explorer’s recently announced acquisition.

That’s right, the newly issued parcel of shares was part of its purchase of 1,824 exploration claims over a major part of Canada’s Frotêt‐Evans Greenstone Belt.

The claims, covering a total of 985 square kilometres, were bought from Candian-listed Troilus Gold Corp. The ASX lithium favourite told the market of the acquisition yesterday.

In addition to the buy, Sayona will subscribe to around $5.3 million worth of Troilus’ stock. That will leave it with a 9.26% hold in its Canadian peer.

The newly purchased claims haven’t been extensively explored for lithium and are located nearby Sayona’s 60%-owned Moblan Lithium Project. They offer potential for extensions to the Moblan mineralisation as well as other regional targets.

That wasn’t the first word from the ASX company this week. It also revealed another acquisition and earn-in agreement and hosted its annual general meeting (AGM).

Sayona is joined in the red by many of its fellow ASX 200 lithium shares today. The Pilbara Minerals Ltd (ASX: PLS) share price is currently down 4.2%. Meanwhile that of Allkem Ltd (ASX: AKE) has slipped 2.4% and Core Lithium Ltd (ASX: CXO) stock is 2.3% lower.

The post Why were 185 million new Sayona Mining shares just issued? appeared first on The Motley Fool Australia.

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More reading

• ASX lithium shareholders rejoice! Expert tips lithium price to hit $100K
• Sayona Mining share price slumps despite ‘major acquisition’
• Can ASX lithium shares really keep dining out at these price levels?
• The future of ASX lithium shares: Are investors looking through rose-coloured glasses?
• Sayona Mining share price slides 7% despite acquisition news

Motley Fool contributor Brooke Cooper 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 has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) is defying the dip in US markets overnight and marching higher.

In early afternoon trade the ASX 200 is up 0.23% to 7152 points.

Despite rising 5.6% over the past month, the benchmark index remains down 5.7% in 2022. The pressure over this calendar year has largely come from fast-rising interest rates following unexpectedly high and stubborn inflation.

That’s a look in the rear view.

Now, what can ASX 200 investors expect in 2023?

What’s the outlook for ASX 200 shares in 2023?

While stocks won’t go up or down in any kind of straight line, UBS believes the ASX 200 will be slightly higher at the end of 2023 than it is today.

UBS Australia equity strategist Richard Schellbach expects some of the forces that have been dragging on shares in 2022 will ease in the year ahead.

According to Schellbach (courtesy of The Australian Financial Review):

Even as the economy decelerates to a sub-trend pace of growth through 2023, we believe that an easing of many of the headwinds that have buffeted stocks through 2022 – input/energy costs, supply chain, labour shortages – can allow the S&P/ASX200 index to end 2023 at 7250.

That’s about 1.2% higher than the current level. Not blowing the roof off, perhaps, but still a positive move. And don’t forget, that figure doesn’t include any of the companies’ dividend payouts.

“Recessions are not an inevitable outcome of tightening cycles, and we believe history can repeat in 2023,” Schellbach said. He pointed to Australia’s GDP growth in 1995, which followed a year of sharp interest rate increases from the RBA.

He also expects ASX 200 shares will get a lift, saying earnings forecasts are likely to rebound after hitting a low in the February 2023 reporting season.

According to Schellbach:

This rebasing would allow earnings growth to resume, but only at a modest reset to the long run earnings growth rate of 5.5% which Australian stocks have trended at over the last two decades. Adjusting this path of earnings growth to the calendar year generates earnings growth of about 4% over 2023.

Then there’s the inflation bugbear, which Schellbach sees peaking in 4Q22. Hitting peak inflation historically bodes well for the ASX 200.

“Passing peak inflation will be key in allowing sectors exposed Real Estate and Retail to detach from negative macro headlines,” Schellbach said.

Happy investing!

The post Here’s the forecast for ASX 200 shares in 2023: UBS appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben 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 has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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