Day: 23 January 2023

Are you looking for some exchange traded funds (ETFs) to buy? If you are, then you may want to take a look at the three ETFs listed below.

Here’s what you need to know about these highly rated ETFs:

VanEck Vectors Video Gaming and eSports ETF (ASX: ESPO)

The first ETF for investors to look at is the VanEck Vectors Video Gaming and eSports ETF. This popular ETF gives investors access to a global video game market that is estimated to comprise almost 3 billion active gamers and growing. This huge market bodes well for the companies held by the fund, which include sector giants such as Electronic Arts, Nintendo, Nvidia, Roblox, and Take-Two.

Vanguard All-World ex-U.S. Shares Index ETF (ASX: VEU)

Another ETF to consider is the Vanguard All-World ex-U.S. Shares Index ETF. As its name implies, this ETF provides investors with access to approximately 3,500 companies listed in developed and emerging markets across the globe, excluding the United States. Vanguard notes that this means Australian investors can expand their portfolio to include many sectors that are not well represented in Australia. Among the ETF’s diverse holdings you’ll find the likes of Astra Zeneca, HSBC Holdings, LVMH Moet Hennessy Louis Vuitton, Royal Bank of Canada, Samsung, Taiwan Semiconductor, and Tencent.

Vanguard U.S. Total Market Shares Index ETF (ASX: VTS)

A final ETF for investors to consider is the Vanguard Australian US Total Market Shares Index ETF. This ETF could be a great option for investors that want exposure to the United States stock market. Vanguard notes that as the world’s largest economy, the U.S offers access to a mix of sectors that are under-represented in the Australian market. Technology accounts for around a third of the ETF and includes names such as Amazon, Apple, Alphabet (Google), and Microsoft. In addition, other sectors that are well represented include consumer discretionary (Home Depot, Costco), industrials (Caterpillar) and Health Care (Pfizer, Johnson & Johnson).

The post 3 highly rated ETFs for ASX investors to buy right now appeared first on The Motley Fool Australia.

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More reading

• Tech rebound! Here are 2 ASX ETFs to buy before it’s too late
• 2 excellent ETFs for ASX investors in January
• Are these the best ETFs for ASX investors to buy in 2023?

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 VanEck Vectors Video Gaming And eSports ETF. 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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Looking for ASX 200 growth shares to buy? Listed below are three that are rated as buys by experts.

Here’s why they could be top options for investors right now:

NextDC Ltd (ASX: NXT)

The first ASX 200 growth share that has been tipped as a buy is NextDC. It is a leading data centre operator with a growing portfolio of world class centres across Australia. The company is also looking at expanding into the Asian market in the near future, which could provide it with significant long term growth opportunities. Morgans is very positive on the company’s outlook and is expecting another strong result in FY 2023 thanks to “structural demand for cloud and colocation [which] remains incredibly strong.”

The broker has an add rating and $13.30 price target on the company’s shares.

ResMed Inc. (ASX: RMD)

ResMed could be another ASX 200 growth share to buy. It is a medical device company with a focus on the sleep disorder treatment market. ResMed has been growing at a strong rate over the last decade thanks to the quality of its products and its large and growing market opportunity. The latter is estimated to comprise almost one billion people with sleep apnoea globally and a little under half a billion people suffering from chronic obstructive pulmonary disease (COPD). And with the majority of these people undiagnosed, ResMed has a long runway for growth.

Macquarie is bullish on ResMed and has an outperform rating and $37.75 price target on its shares.

Xero Limited (ASX: XRO)

A final ASX 200 growth share that has been named as a buy is Xero. It is a provider of a cloud-based accounting solution used by millions of small businesses globally. From these subscribers, the company is generating significant recurring revenue. However, this revenue could still grow materially in the future. With 3.3 million subscribers and a total addressable market of 100 million according to Goldman Sachs, Xero has a huge growth runway over the next decade or two.

It is for this reason that Goldman Sachs has a buy rating and $115.00 price target on its shares.

The post 3 excellent ASX 200 growth shares with major upside: analysts appeared first on The Motley Fool Australia.

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More reading

• Leading brokers name 3 ASX shares to buy today
• Here are the 10 most shorted ASX shares
• 5 things to watch on the ASX 200 on Monday
• My top predictions for ASX All Ords shares in 2023
• How I’d invest $40k in ASX shares and aim for $1 million

Motley Fool contributor James Mickleboro has positions in Nextdc and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ResMed and Xero. The Motley Fool Australia has positions in and has recommended ResMed and Xero. 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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Codan Limited (ASX: CDA) shares are now back to where they were at the low of the COVID-19 crash in 2020. Two years of disappointing performances have placed the communications and metal detection company’s shares 77% below their 2021 high of $19.33.

Despite the backward move, this S&P/ASX 300 Index (ASX: XKO) member has delivered an outstanding 127% to its shareholders over the past five years when including dividends.

Here’s a look at why I’m planning to load up in an attempt to more than triple my investment.

Detecting an undervalued ASX 300 share

At first inspection, you might notice that Codan’s revenue and net profits after tax (NPAT) were at all-time highs in the last financial year. Then why would the company’s share price be down almost 47% over the previous 12 months?

As always, the market is forward-looking. For Codan, the future isn’t quite as bright for its metal detection segment as in prior years.

In FY22, sales for its detecting products tumbled 20% year on year. Adding to the pain, management is forecasting up to a further 45% slump in detector sales in the first half of FY23. The cause of this waning demand is said to be a reduction in sales in Africa — specifically Sudan — due to a military coup.

Undoubtedly, this has weighed on the optimism among shareholders. The company will be left with a $58 million to $63 million hole in its sales. Unless Codan can grow other markets rapidly or secure some huge communications contracts, this will likely manifest in a weaker profit in FY23 for this ASX share.

Nonetheless, the company has a long track record of expanding into new markets. Likewise, Codan’s management has proven its ability to make sound ad-hoc acquisitions to its communications offering.

These two factors combined give me faith that the company will be able to grow its top line at around 15% per annum post-FY23.

Financial year	Revenue projection	Earnings projection
FY23	$446 million	$67 million
FY24	$513 million	$82 million
FY25	$590 million	$95 million
FY26	$678 million	$122 million
FY27	$745 million	$134 million
FY28	$820 million	$164 million

Dividends could supercharge returns

Codan has returned to a net debt position on its balance sheet following numerous acquisitions over the last couple of years. Currently, the debt level looks maintainable for this ASX share. However, if profits fall this year, dividends most likely will also head south.

The company has a goal of paying around 50% of after-tax profits back to shareholders using dividends. As a result, FY23 might be disappointing on the income front for Codan investors. However, sharing in a 50% distribution of profits and reinvesting those using a dividend reinvestment plan (DRP) could greatly increase total shareholder returns in the long run.

While they haven’t been the most consistent over the years, Codan’s total dividends have trended higher over time — as shown above.

If this ASX share can regain its footing, reaching $164 million in NPAT by FY26 in the process, I believe Codan is a real contender for tripling my money.

The post Could this ASX 300 share offer a once-in-a-lifetime chance to triple my money? appeared first on The Motley Fool Australia.

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More reading

• My $15 a day plan to build passive income this year
• I think these are the 10 best ASX shares to buy for 2023

Motley Fool contributor Mitchell Lawler 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) wobbled into this week before ultimately closing higher. In fact, it posted its highest close since April 2022, lifting 0.07% to reach 7,457.3 points.

It followed a strong Friday’s trade on Wall Street, led by the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC)’s 2.7% gain.

Perhaps it’s no surprise then, that the S&P/ASX 200 Information Technology Index (ASX: XIJ) led the way on the Aussie bourse. It gained 1.3% today with Block Inc (ASX: SQ2) shares posting their biggest increase, rising 6%.

The S&P/ASX 200 Energy Index (ASX XEJ) also outperformed, gaining 0.9% after oil prices closed last week on a high.

Brent crude oil rose 1.7% to trade at US$87.63 a barrel while US Nymex crude increased 1.2% to US$81.31 a barrel.

On the other hand, the S&P/ASX 200 Health Care Index (ASX: XHJ) lost ground today, falling 0.2% as Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) handed back some of Friday’s gains.

So, having browsed how the ASX 200 broadly performed today, let’s dive into its top 10 biggest gainers.

Top 10 ASX 200 shares countdown

Today’s top-performing ASX 200 stock was Karoon Energy Ltd (ASX: KAR). It lifted 7.4% to close at $2.32 after announcing a 23% increase in reserves at its wholly-owned Santos Basin concession.

These shares made today’s biggest gains:

ASX-listed company	Share price	Price change
Karoon Energy Ltd (ASX: KAR)	$2.32	7.41%
Liontown Resources Ltd (ASX: LTR)	$1.47	6.91%
Pilbara Minerals Ltd (ASX: PLS)	$4.83	6.15%
Block Inc (ASX: SQ2)	$108.51	6.07%
Novonix Ltd (ASX: NVX)	$1.85	6.02%
Core Lithium Ltd (ASX: CXO)	$1.115	5.69%
Allkem Ltd (ASX: AKE)	$13.34	4.22%
Nickel Industries Ltd (ASX: NIC)	$1.12	3.23%
ARB Corporation Limited (ASX: ARB)	$29.51	3.22%
IGO Ltd (ASX: IGO)	$15.16	3.06%

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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More reading

• 3 things Scott Phillips is most excited about investing in 2023
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Down 41% since November, is the Core Lithium share price a bargain buy now?
• Leading brokers name 3 ASX shares to buy today
• Why Boss Energy, Pilbara Minerals, Sezzle, and Zip shares are charging higher

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 positions in and has recommended ARB Corporation and Block. The Motley Fool Australia has positions in and has recommended Block. The Motley Fool Australia has recommended ARB Corporation. 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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Australia is a country with an enormous amount of resources. Fortescue Metals Group Limited (ASX: FMG) is one of the largest S&P/ASX 200 Index (ASX: XJO) mining shares and has been making huge profits. But could it make sense to merge with one of its competitors?

Fortescue produces an enormous amount of iron ore each year. But, it isn’t the only iron miner on the ASX – others include BHP Group Ltd (ASX: BHP), Rio Tinto Ltd (ASX: RIO) and Mineral Resources Limited (ASX: MIN).

Changes in the iron ore price can significantly impact how much profit these businesses make.

The iron ore price has been rising recently, reaching around US$120 per tonne.

However, China may not pay quite as much as it used to for the steel-making ingredient. As reported by the Australian Financial Review, a new entity called China Mineral Resources Group (CMRG) has been established to enable stronger buying power of iron ore by Chinese entities.

Regal Partners Ltd (ASX: RF1) head of resources fund manager, Tim Elliott, suggested the newly formed CMRG could be bad news for the iron ore price, according to the AFR:

It’s likely to lower iron ore prices, at least in certain market conditions. If this does occur, one option may be for Australia and Brazil (and perhaps Canada and South Africa) to form a producer bloc.

But, he was optimistic about the mining sector in general and said the situation was “incredibly bullish” for most commodities:

I think mining investors will see years of strong returns as the next resources supercycle really gets under way.

There’s an array of special interest groups opposing new mines but no voice championing the benefits of new mines for consumers and living standards, for tax revenue, for creation of high-paying regional jobs and global poverty alleviation.

Merger idea

The Fortescue share price has risen by more than 20% in the last six months.

Elliot suggested that a strategically compelling acquisition idea from a producer’s perspective — in “hypothetical terms” — would be a takeover of Mineral Resources by Fortescue.

The AFR reported on this suggestion for Fortescue:

It would cease the building out of new iron ore projects to prevent extra tonnage damaging the value of Fortescue’s existing iron ore business, while adding world-class lithium assets.

This would be a significant acquisition considering Mineral Resources currently has a market capitalisation of $17 billion, according to the ASX, compared to a $70 billion valuation for Fortescue.

But, other resource businesses on the ASX have shown an appetite for large deals, such as Woodside Energy Group Ltd (ASX: WDS) buying the petroleum assets from BHP, and BHP aiming to acquire the OZ Minerals Limited (ASX: OZL) company.

The post Why a merger between Fortescue and this major-league miner could make sense: expert appeared first on The Motley Fool Australia.

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More reading

• Why Fortescue shares could be facing a Meta-like problem
• Should I buy ASX mining shares now or not?
• My top predictions for ASX lithium shares in 2023
• My top predictions for ASX 200 mining shares in 2023
• 2 December losers ready to turn it around in 2023: expert

Motley Fool contributor Tristan Harrison has positions in Fortescue Metals Group. 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) has kicked off the trading week on a rather volatile note. At the time of writing, the ASX 200 is in green territory, having recorded a gain at present of 0.15%, putting the index just over 7,460 points.

But the ASX 200 has had stints in both positive and negative territory today, so who knows where we’ll finish the trading day at.

So rather than attempting to decipher these market moves, let’s now take a glance at the ASX 200 shares currently topping the share market’s trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Monday

Liontown Resources Ltd (ASX: LTR)

ASX 200 lithium share Liontown is our first stock worth checking out this Monday. So far this session, a notable 21 million Liontown shares have changed hands as it currently stands. We haven’t heard anything out of Liontown itself today.

However, that hasn’t stopped this company’s shares from jumping on a horse and going for a gallop.

Liontown is currently up a pleasing 4.73% at $1.44 a share, which probably explains the high volumes we are seeing. This could be the result of some love from ASX brokers today, which my Fool colleague went into earlier.

Pilbara Minerals Ltd (ASX: PLS)

Next, we have a familiar face in Pilbara Minerals. Liontown’s fellow ASX 200 lithium stock has seen a decent 24.44 million shares trade owners on the ASX so far today.

Again, all has been quiet on Pilbara’s news front today, apart from a notice that the company has appointed Paul Laybourne to the position of project director.

However, Pilbara is also enjoying a day at the races this Monday. Its shares are doing even better than Liontown’s, climbing by more than 6% so far today to $4.83 each. This again comes after an analyst came out with a buy rating on Pilbara.

This strong rise is probably the reason so many shares are flying around.

Sayona Mining Ltd (ASX: SYA)

Third and finally, this Monday, we have yet another ASX 200 lithium share in Sayona Mining. A sizeable 30.75 million Sayona shares have sauntered around the share market at the time of writing.

No news or broker ratings are out for Sayona today. In fact, Sayona shares remain one of the ASX 200’s most shorted shares, as my Fool colleague covered this morning.

That hasn’t gotten in the way of the company’s share price today, though. While not as dramatic as its peers above, the Sayona share price is still shooting higher, up a nice 1.96% at present to 26 cents per share.

This, and the volatility we have seen today, is the likeliest explanation for this company’s elevated trading volumes.

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

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More reading

• Leading brokers name 3 ASX shares to buy today
• Why Boss Energy, Pilbara Minerals, Sezzle, and Zip shares are charging higher
• Perpetual share price gains as $2b Pendal acquisition officially completed
• This ASX 200 healthcare share just hit a new 52-week high. Here’s why
• Here are the 10 most shorted ASX shares

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 Core Lithium Ltd (ASX: CXO) share price has staged a solid rebound in the New Year.

Since the opening bell on 3 January, the ASX lithium stock is up 8.4%, currently trading for $1.10 per share.

Yet the Core Lithium share price remains down just over 41% from its 14 November all-time closing highs of $1.87 per share.

It hit that high, as you can see in the below chart, after the stock soared 183% over the first ten and a half months of 2022.

But with the soon-to-be lithium producer still down 41% since November, is it a bargain or a falling knife?

To buy or not to buy at the current Core Lithium share price?

A number of prominent brokers are rather bearish on the short to medium-term outlook for the Core Lithium share price.

Among them is Goldman Sachs.

On 13 January, the broker retained its sell rating on Core Lithium, with a share price target of 95 cents. That implies a 13.4% downside from the current price.

Atop forecasting a retrace in lithium prices, one of Goldman’s primary concerns stems from the potential risks at the company’s Finniss Lithium Project, located in the Northern Territory.

According to Goldman Sachs’ analysts:

We see production risk as the Finniss project moves through ramp up on project complexity (moving between different open pits and underground configurations), and the required exploration/resource upside to support capacity expansion/life extension currently priced into the stock looks significant.

Still, the lithium miner says it’s on track to commence spodumene concentrate production at Finniss in the first half of 2023.

And on 5 January, the Core Lithium share price leapt 7.8% after the company reported on its first direct shipping ore (DSO) from Finniss to an unspecified customer in China.

“This first shipment of lithium product has also allowed our team to successfully commission the logistics chain linking Finniss to the Darwin Port,” Core Lithium CEO Gareth Manderson said earlier this month.

“Our focus now is to safely complete construction of the dense media separation (DMS) plant at Finniss to enable us to produce high-quality spodumene concentrate,” he added.

Keep an eye on lithium demand

Barring any substantial impediments at Finniss, the outlook for the Core Lithium share price in 2023 will be heavily influenced by the price of the battery-critical mineral it produces.

According to data from Trading Economics, lithium prices are down 8% so far in the New Year.

The trend from here will be largely determined by what happens with the broader global economy.

Should inflation across the world begin to subside and central banks begin to ease off on their tightening paths, a global recession could be averted.

That should see healthy demand remain from the booming global EV manufacturers responsible for the lion’s share of lithium demand. It would also likely offer some further tailwinds to the Core Lithium share price.

However, should the world’s leading economies tip into recession, lithium demand (and prices) could well slip amid potentially excess supply in the short term.

Looming recession or not, taking the longer-term view, investors may well look back at the Core Lithium share price today in 2033 and proclaim it was indeed a bargain buy.

The post Down 41% since November, is the Core Lithium share price a bargain buy now? appeared first on The Motley Fool Australia.

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More reading

• Here are the 10 most shorted ASX shares
• My top predictions for ASX lithium shares in 2023
• Here are the 3 most heavily traded ASX 200 shares on Friday
• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Wednesday

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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It’s a good day to be invested in ASX lithium share Anson Resources Ltd (ASX: ASN). The company revealed a major milestone at its Paradox lithium project this morning.

It has achieved “another significant step forward on the path to production”, according to Anson Resources executive chair and CEO Bruce Richardson, as the company unveiled a water rights agreement for its flagship lithium brine project in the US state of Utah.

The stock is soaring on the back of the news. Right now, the Anson Resources share price is 5.56% higher at 19 cents.

Let’s take a closer look at the latest news from the ASX lithium share.

ASX lithium share soars on water agreement

The Anson share price is rocketing on Monday as the company gets one step closer to kicking off production at the project it describes as being on the doorstep of Tesla Inc (NASDAQ: TSLA).

It’s signed a sub-lease agreement with Green River Companies, which is in turn approved by the Wayne County Water Conversancy Board.

That will see the ASX lithium company leasing more water than is expected to be needed to run its planned 13,000 tonnes per annum lithium carbonate equivalent plant.

Commenting on the news driving the ASX lithium share higher, Richardson said:

Water is an essential part of the lithium production and while the current process flow sheet allows for approximately 80% of the water used to be recycled, additional water needs to be added.

We are delighted that Anson has been able to successfully negotiate this agreement … which further demonstrates the support that the project continues to receive from the local and state governments.

The agreement is for an initial 23 years and carries the option to extend for another 20 years.

It was initially signed in October. However, conditions, including a $1 million payment from Anson Resources’ subsidiary A1 Lithium Inc, have now been completed.

Today’s gain sees the Anson Resources share price 5.6% higher than it was at the start of 2023. It has also gained 46.2% since this time last year.

It’s joined in the green by many of the ASX’s biggest lithium stocks today.

The share price of Pilbara Minerals Ltd (ASX: PLS), for instance, is currently up 6.04%. Meanwhile, that of Core Lithium Ltd (ASX: CXO) has gained 4.45%.

The post Guess which ASX lithium share is rocketing 6% on ‘another significant step forward’ appeared first on The Motley Fool Australia.

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More reading

• If I invest $10,000 in CSL shares now, what could my return be this year?
• This could crash the earnings season party for ASX 200 bank shares: Macquarie
• Leading brokers name 3 ASX shares to buy today
• Why Fortescue shares could be facing a Meta-like problem
• Why Boss Energy, Pilbara Minerals, Sezzle, and Zip shares are charging higher

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 positions in and has recommended Tesla. 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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CSL Limited (ASX: CSL) shares have been a great place to invest over the last 12 months.

As you can see on the chart below, during this time the biotherapeutics giant’s shares have gained almost 14%.

This would have turned a $10,000 investment into $11,400.

This solid return is nothing new for CSL and its shareholders. Over the last 10 years, CSL shares have generated an average total return of 19.4% per annum.

Can CSL shares continue to outperform?

Given the high quality nature of the CSL business, it is no doubt an ASX share that many investors consider as an investment.

But what might a $10,000 investment today look like in a year?

The good news is that one leading broker believes investors could do very well from an investment into CSL shares today.

According to a note out of Morgan Stanley from last week, its analysts have retained their overweight rating with an improved price target of $354.00.

The broker lifted its price target on the belief that CSL’s plasma margins could strengthen more than previously expected thanks to a number of favourable tailwinds and its new collection platform. The latter has been designed to yield greater quantities of plasma in less time.

Based on the current CSL share price of $298.32, Morgan Stanley’s price target suggests that the company’s shares could rise almost 19% over the next 12 months.

The broker is also forecasting a $4.44 per share dividend from CSL in FY 2023, which stretches the total potential return to approximately 20%.

This means that if you were to invest $10,000 into CSL shares, if Morgan Stanley is on the money with its recommendation, your investment would grow to be worth $12,000 by this time next year.

The post If I invest $10,000 in CSL shares now, what could my return be this year? appeared first on The Motley Fool Australia.

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More reading

• Top brokers name 3 ASX shares to buy next week
• How I’d invest $40k in ASX shares and aim for $1 million
• CSL shares: Here are the dividend forecasts for 2023 and 2024
• Leading brokers name 3 ASX shares to buy today
• Is CSL the best ASX 200 share to buy in 2023?

Motley Fool contributor James Mickleboro has positions in CSL. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL. 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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Many S&P/ASX 200 Index (ASX: XJO) bank shares have been on a roll lately as higher interest rates have seen net interest margins (NIMs), and thereby profits, increasing.

However, the party could be coming to an abrupt end, according to Macquarie experts.

They’re said to have tipped inflation and continuously high rates to decrease the value of banks’ portfolios and risk greater impairments while higher wages could dint their bottom lines.

What might that mean for ASX 200 bank shares? Let’s take a look

ASX 200 banks downgraded amid earnings concerns

Macquaire has lowered its expectations for bank shares, dropping its outlook for the Aussie sector to underweight and slashing its price targets for some ASX 200 giants, The Australian reports.

Analyst Victor German is said to expect banking favourites to post their strongest pre-provision profit growth in a decade. However, that’s already priced into bank shares.

Meanwhile, the second half of 2023 isn’t looking all that positive. The expert said, courtesy of the publication:

[W]ith meaningful downside risk to consensus expectations in 2024, we expect banks to underperform the market throughout 2023.

German flags banks’ expenses could begin to outweigh revenues from financial year 2024 – a mark of inflation driving wages higher. He continued, per The Australian:

We see risk to consensus expectations, and while our FY24 cost forecasts are above market, we may still not be conservative enough. On the revenue side, once rate benefits flow through, volume growth will likely lag inflation, given falling asset prices and reduced credit availability.

Though, not all is dire.

Macquarie has reportedly raised its expectations for ANZ Group Holdings Ltd (ASX: ANZ) shares to outperform. It’s kept its price target at $26 – a potential 4.5% upside.

On the other hand, it’s said to have slapped underperform ratings on Commonwealth Bank of Australia (ASX: CBA), Westpac Banking Corp (ASX: WBC), and Bank of Queensland Ltd (ASX: BOQ).

CBA shares are said to have been tipped to fall 13.6% to $94. Meanwhile, those of Westpac and Bank of Queensland are expected to drop 1.7% and 2.9% to $23.50 and $6.75 respectively.

The post This could crash the earnings season party for ASX 200 bank shares: Macquarie appeared first on The Motley Fool Australia.

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More reading

• Perpetual share price gains as $2b Pendal acquisition officially completed
• This ASX 200 healthcare share just hit a new 52-week high. Here’s why
• Can income investors bank on a 6% dividend yield from NAB shares?
• Buy ANZ and this ASX dividend share: analysts
• Bought $5,000 of ANZ shares 5 years ago? Here’s how much passive income you’ve received

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 Westpac Banking. 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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