Day: 17 February 2023

It’s been an exciting earnings season so far for passive income investors, with many dividend-paying S&P/ASX 200 Index (ASX: XJO) shares bolstering their offerings. But not all has been well in dividend land this week.

Three ASX 200 shares have slashed their dividends, one by as much as 50%. Let’s take a look.

3 ASX 200 shares slicing their dividends this week

First out of the gate is ASX 200 iron ore giant Fortescue Metals Group Limited (ASX: FMG). The company reported its first-half earnings on Wednesday.

It posted a 3.6% slump in revenue, falling to US$7.8 billion, and a 4.7% fall in net profit after tax (NPAT), which came in at US$2.4 billion.

The average iron ore price realised by the miner also tumbled last half to US$87 per dry metric tonne. For comparison, that figure was US$96 a tonne in the prior comparable period.

Finally, Fortescue declared a fully franked interim dividend worth 75 Australian cents – a 12.8% year-on-year drop.

Having a better half was Evolution Mining Ltd (ASX: EVN). Though, the ASX 200 gold share still slashed its dividend on Thursday.

It declared a 2 cents per share fully franked interim dividend – down from 3 cents per share this time last year. That marks a 50% reduction.

The company instead chose to put much of its extra cash towards growth projects at its Cowal and Red Lake assets.

It posted $101 million of statutory NPAT, an 11% improvement, and $446 million of earnings before interest, tax, depreciation, and amortisation (EBITDA), a 13% jump.

Finally, South32 Ltd (ASX: S32) also cut its interim dividend to 4.9 US cents, down from 8.7 US cents in financial year 2022 – a 43.7% drop.

The company posted its first-half earnings on Thursday, declaring a 34% drop in profits and a 44% fall in underlying earnings. They came in at US$685 million and US$560 million respectively.

Weighing on its finances were falling commodity prices, inflation, and uncontrollable costs.

The post Passive income watch: 3 ASX 200 shares that slashed their dividends this week appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Friday
• Evolution Mining share price dives after 50% cut to dividend
• Here are the top 10 ASX 200 shares today
• Why did the ASX 200 leap higher on rising unemployment data?
• Here are the 3 most heavily traded ASX 200 shares on Thursday

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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With interest rates skyrocketing over the past 12 months or so, cash investments like term deposits are suddenly back in vogue. In 2021, it was hard to find even a two-year term deposit yielding 1%. Today, you can give your money to the bank for safekeeping, and get an interest rate as high as 4.5%.

Now many investors might appreciate the safety of this kind of guaranteed yield. After all, the dividends from ASX shares are never guaranteed to keep flowing.

But with higher risk often comes higher return. As such, there are still many ASX dividend shares out there that are offering trailing dividend yields far greater than 4.5% today. If those yields come fully franked, then even better. Let’s check out five

5 ASX dividend shares that crush a term deposit today

Adairs Ltd (ASX: ADH)

ASX 200 homewares retailer Adairs is our first dividend machine worth checking out. Adairs shares have been fairly consistent dividend payers for years now. In 2022, this company doled out two fully-franked dividends worth 8 cents and 10 cents per share respectively.

These two dividends give this share a trailing yield of 7.5% today. Even better, that yield grosses up to a whopping 10.71% with that full franking.

Westpac Banking Corp (ASX: WBC)

ASX 200 bank share Westpac would be a company almost all of us would be familiar with. ASX banks are known for their dividend prowess, and Westpac is no different.

Over 2022, this bank dealt out two fully-franked dividends. The first was worth 61 cents per share, fully franked. The second was a 64 cents per share dividend, also with full franking.

Today, this gives the Westpac share price a trailing yield of 5.49%. That’s 7.84% grossed-up.

Dusk Group Ltd (ASX: DSK)

Another ASX homewares retailer, Dusk specialises in candles, oils, fragrances and other similar items. This company was a real pandemic winner, with Dusk shares rising as high as $4 each in 2021. However, the past year or so has been less forgiving, and Dusk has sunk to under $2 at present.

But this fall has done wonders for Dusk’s dividends. The company shelled out two dividends last year worth 10 cents per share each. Both came fully franked too.

At the current Dusk share price, we are looking at a dividend yield of 11.2%, or a whopping 16% grossed-up. Take that, term deposit!

Super Retail Group Ltd (ASX: SUL)

Retail is starting to be a theme here. Our penultimate share to look at today is Suepr Retail Group, the company behind popular stores like Rebel, BCF and Super Cheap Auto.

This is another ASX dividend share that has supersized its payouts in recent years. 2019 saw the company fork out 5 cents per share in dividends, but last year, Super Retail made it rain with a total of 70 cents per share. All fully franked too, of course.

Just yesterday, the company announced that its first dividend for 2023 would come in at 34 cents per share, which is a massive increase over 2022’s interim dividend of 27 cents per share.

At the last Super Retail share price, this company has a yield of 5.61% on the table, or 8.01% grossed-up.

Harvey Norman Holdings Limited (ASX: HVN)

Our fifth and final ASX dividend machine to consider today is another famous name in retail. Harvey Norman truly has a hardly normal dividend yield right now. The homewares and electronics retailer has also been suffering a bit in recent years, share price wise.

But that didn’t stop Harvey Norman from doling out its highest-ever annual dividend in 2022. Last year, the company showered investors with a total of 37.5 cents per share in fully franked dividends.

Together, these give Harvey Norman shares a trailing dividend yield of 9.08% today. That’s a good 12.97% grossed-up with those franking credits.

Foolish takeaway

Against these ASX dividend shares, term deposits – eat your heart out.

The post Why term deposits can’t compete with these 5 ASX dividend machines appeared first on The Motley Fool Australia.

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More reading

• Earnings preview: Here are the ASX shares reporting on Friday
• Westpac share price on watch following Q1 update
• 5 things to watch on the ASX 200 on Friday
• Super Retail share price roars on 30% profit boost
• 11% dividend yield! Is this the greatest ASX 300 bargain?

Motley Fool contributor Sebastian Bowen has positions in Adairs and Dusk Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Adairs, Harvey Norman, and Super Retail Group. The Motley Fool Australia has positions in and has recommended Adairs, Harvey Norman, and Super Retail Group. The Motley Fool Australia has recommended Dusk Group and 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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There is much debate about inflation peaking, but even if the top has passed it is still extraordinarily high for comfort.

For the 12 months ending December, Australia’s consumer price index rose 7.8%.

That means $100 in your wallet a year ago is now worth just $92.20.

So passing the peak is somewhat meaningless for all those consumers out there whose spending power has been decimated.

According to DeVere Group chief Nigel Green, this has a severe impact on stock investors too.

“Stubborn inflation affects stock markets because central banks — including the [US] Fed, Bank of England and European Central Bank — will have to continue to step in and raise interest rates,” he said.

“This means people adjust and rein-in their spending, it cools the economy and companies can struggle to make profits.”

The trouble is that prices of ASX shares are correlated to profitability of the underlying businesses.

“In this environment of higher rates for longer than had previously been anticipated, some companies are going to find it difficult to maintain margin and, as we’re now seeing, are failing to report earnings as had been expected,” said Green.

“In other words, if costs are going up, firms can’t maintain margin, so that company is unlikely to be a good investment until things change.”

What’s more, the current high level of inflation means any investments you make have to return 7.8% per annum for it to just break even.

Four sectors that will keep earning in 2023

So it’s a tough time to pick the right stocks.

To assist, Green’s team identified four sectors that might prove to be “resilient in this current environment”.

“We’re looking at sectors that can maintain margin, despite inflation and interest rate hikes,” said Green.

“These include healthcare, luxury goods, energy and agriculture.”

Healthcare is “robust” through economic downturns because everyone still needs to look after their health regardless of disposable income.

Green added that this thesis has become even more prevalent since the COVID-19 pandemic.

“Also, despite wider market volatility, there’s strong earnings potential due to ageing populations and other demographic changes,” he said.

“Plus, healthcare is becoming increasingly tech-driven, which offers fresh opportunities.”

Luxury goods might be a surprising sector to back during tougher economic times.

But Green argues that producers of aspirational “elite and exclusive” goods can maintain their large margins from affluent clientele that may not suffer from a drop in income as much as others.

“We’ll look at energy because there’s a shortage of energy in the world right now,” he said.

“Agriculture is another one as populations in emerging markets around the world are eating more meat. As they eat more meat, there needs to be more grain produced.”

Aside from picking the right stocks and sectors, Green reminded investors that the most important defensive tool is diversification.

“Inflation is going to be an issue for investors for a while yet,” he said.

“However, these can also be times of opportunity if you stay fully and wisely invested.”

The post Inflation refuses to die: Expert reveals where to invest your hard-earned appeared first on The Motley Fool Australia.

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More reading

• Why term deposits can’t compete with these 5 ASX dividend machines
• Earnings preview: Here are the ASX shares reporting on Friday
• ‘Attractive opportunities’: Fund reveals why 2 ASX 200 shares are its biggest holdings
• Westpac share price on watch following Q1 update
• 3 ASX 200 shares Firetrail Small Companies fund is overweight in right now

Motley Fool contributor Tony Yoo 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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This week of the earnings season is ending on a quieter note. Unlike yesterday, there are only a handful of major ASX shares expected to release their results today.

Nevertheless, it is helpful to know which companies are set to release their results. Here’s a quick summary of what is coming up today so you don’t miss any of it.

ASX shares primed to report today

Ranked in order of market capitalisation (largest to smallest)

Westpac Banking Corp (ASX: WBC), $79.9 billion

QBE Insurance Group Ltd (ASX: QBE), $19.9 billion

Latitude Group Holdings Ltd (ASX: LFS), $1.4 billion

Inghams Group Ltd (ASX: ING), $1.0 billion

HealthCo Healthcare and Wellness REIT (ASX: HCW), $501.6 million

Baby Bunting Group Ltd (ASX: BBN), $331.9 million

What can we expect to see?

The elephant in the room is Westpac’s first quarter update today. Shareholders will be putting the major bank under the microscope to see how it compares with recent releases from the Commonwealth Bank of Australia (ASX: CBA) and National Australia Bank Ltd (ASX: NAB).

Credit quality is the question on all investors’ lips as concerns of a hard landing escalate. Writing loans and collecting interest has been a boon for the banking sector. However, the quality of those loans is now arguably the most important criterion in a high-rate environment.

At the other end of the market cap spectrum, Baby Bunting Group is one ASX retail share that could draw a crowd today.

Shares in the baby goods retailer have tumbled 37% since the company’s annual general meeting. It was at the AGM that shareholders were first informed of a difficult landscape for profitability as Baby Bunting competed more on price.

Heading into today, consensus estimates placed net profit after tax (NPAT) at $8.5 million for the first half. Any insight into how the company’s management plans to improve earnings moving forward will be a topic of interest for shareholders.

You now have a headstart on the day! Don’t forget to check back for our results coverage of these ASX shares and more.

The post Earnings preview: Here are the ASX shares reporting on Friday appeared first on The Motley Fool Australia.

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More reading

• Westpac share price on watch following Q1 update
• 5 things to watch on the ASX 200 on Friday
• Why CBA, Corporate Travel Management, Treasury Wine, and Westpac shares are dropping
• 3 catalysts for Westpac shares to take off in 2023
• Westpac share price higher amid latest BNPL moves

Motley Fool contributor Mitchell Lawler has positions in Commonwealth Bank Of Australia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Baby Bunting Group. The Motley Fool Australia has recommended Baby Bunting Group and 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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The Westpac Banking Corp (ASX: WBC) share price will be one to watch on Friday.

This is because Australia’s oldest bank has just released its first quarter update.

Westpac share price on watch

Investors will be watching the Westpac share price closely today after the banking giant’s first quarter update was released to the market.

Unfortunately, the banking giant’s update isn’t as thorough as the one from rival National Australia Bank Ltd (ASX: NAB) on Thursday and doesn’t include any profit details.

However, it does provide a few metrics that gives investors an idea of how Westpac is performing right now.

What did Westpac report?

Westpac’s update provided details on its credit quality, capital position, and funding and liquidity.

In respect to credit quality, Westpac reported that its 90+ day mortgage delinquencies were down five basis points to 0.7%.

It also revealed that its provisions to total committed exposure (TCE) edged slightly higher to 40 basis points from 39 basis points. Though, this is still lower than the prior corresponding period.

As for its capital position, Westpac reported a CET1 ratio of 11.13% and an 0.6% or $2.8 billion increase in risk weighted assets (RWA) to $480.4 billion. The latter was driven by higher lending.

Finally, the banking giant provided investors with a funding and liquidity update, which revealed that both measures have strengthened during the quarter.

Westpac’s liquidity coverage ratio (LCR) was up 7 percentage points to 139%, its net stable funding ratio (NSFR) was up 1 percentage point to 122%, and its deposit to loan ratio came in 1.1 percentage points higher at 84%.

The Westpac share price is down 3% over the last 12 months.

The post Westpac share price on watch following Q1 update appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Friday
• Why CBA, Corporate Travel Management, Treasury Wine, and Westpac shares are dropping
• 3 catalysts for Westpac shares to take off in 2023
• Westpac share price higher amid latest BNPL moves
• 3 of the best ASX 200 shares to buy now: broker

Motley Fool contributor James Mickleboro has positions in Westpac Banking. 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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Despite the buoyant stock market so far in 2023, it’s confusing to investors to know which ASX shares to pick up right now.

That’s because much uncertainty still abounds. 

Regardless of the opinions you hear, no one truly knows how the economy, inflation, interest rates, geopolitics, and earnings will turn out this year.

In this environment, it might help to see where professional investors have their money parked.

The Firetrail Small Companies Fund this week revealed three S&P/ASX 200 Index (ASX: XJO) shares that it’s “overweight” in, and the rationale behind the investments:

Outlook remains strong for this hammered stock

The Incitec Pivot Ltd (ASX: IPL) share price has started the year poorly, dropping more than 6% so far.

Firetrail analysts put this down to the “falling European gas price and rising Australian dollar”. 

“An unusually warm European winter resulted in lower gas demand than expected,” read their memo to clients.

“With the price of ammonia largely driven by the cost of marginal European production, the warm winter has been negative for global fertiliser companies.”

But the team is happy to buy up Incitec shares while they’re cheap, as “energy-exposed” businesses are a favoured theme at the moment.

“We view these [headwinds] as temporary. The medium-term outlook for Incitec Pivot’s fertiliser business remains strong.”

Demand for EV materials will continue

Lynas Rare Earths Ltd (ASX: LYC) shares have risen more than 6% to kick off 2023, although they’re still 12% down from a year ago.

The post-COVID reopening of the Chinese economy plus a positive performance update helped.

Businesses that produce materials that go towards electric vehicles are winners for the Firetrail team. As such, it will stick with its Lynas shares. 

“December quarter production of Lynas’ main rare earth product NdPr [neodymium and praseodymium] improved 44% on the September quarter, as water outages in Malaysia were successfully rectified.”

US housing downturn not as bad as first thought

Another theme Firetrail analysts currently like is “globally exposed cyclicals”.

This rationale is behind its backing of plumbing equipment supplier Reliance Worldwide Corporation Ltd (ASX: RWC).

The stock has rocketed 17.5% up so far this year.

“Reliance Worldwide outperformed in January. US market sentiment improved following [US] Fed chair Jerome Powell’s less hawkish comments at the January FOMC meeting.”

The great tailwind for Reliance is that the duration and severity of a housing downturn in the US could be “less pronounced than expected”. 

“Reliance Worldwide has 20% of revenue linked to new housing construction, and 80% linked to repair & replace (R&R) activity.”

The post 3 ASX 200 shares Firetrail Small Companies fund is overweight in right now appeared first on The Motley Fool Australia.

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More reading

• 3 ASX 200 stocks marching higher following earnings updates
• Here are the top 10 ASX 200 shares today
• Buy Lynas shares now for 25% upside: UBS
• Lynas share price marching higher on licence update
• Lynas share price sinks 8% amid license concerns

Motley Fool contributor Tony Yoo 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 Reliance Worldwide. The Motley Fool Australia has recommended Reliance Worldwide. 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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On Thursday, the S&P/ASX 200 Index (ASX: XJO) returned to form and stormed higher. The benchmark rose 0.7% to 7,410.3 points.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to edge higher

The Australian share market looks set to edge higher on Friday despite it being a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 7 points or 0.1% higher this morning. In late trade in the United States, the Dow Jones is down 0.4%, the S&P 500 is down 0.4% and the NASDAQ index has dropped 0.5%. A hot inflation report but a decline in jobless claims showed the US economy is holding up despite the Federal Reserve’s rate hikes. This sparked fears that more are coming.

Oil prices fall

Energy producers Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a poor finish to the week after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 0.3% to US$78.40 a barrel and the Brent crude oil price is down 0.35% to US$85.11 a barrel. A stronger US dollar weighed on prices.

NAB rated a buy and Westpac’s Q1 update

The National Australia Bank Ltd (ASX: NAB) share price is great value according to analysts at Goldman Sachs. In response to its first quarter update, the broker retained its buy rating with a $35.42 price target. It commented: “NAB has released its 1Q23 trading update, with unaudited cash earnings from continuing operations of A$2.15 bn, up 18% on the previous period average, run-rating 3% above what is implied by our current 1H23E forecasts.” Elsewhere, fellow ASX 200 bank Westpac Banking Corp (ASX: WBC) is scheduled to release its first quarter update.

Gold price rises

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a good finish to the week after the gold price rose overnight. According to CNBC, the spot gold price is up 0.5% to US$1,854 an ounce. Strong US economic data put pressure on the precious metal.

QBE full year results

The QBE Insurance Group Ltd (ASX: QBE) share price will be one to watch on Friday when the insurance giant releases its full year results. Goldman Sachs is expecting a net profit of $676.1 million and a 25 cents per share dividend. However, it is QBE’s guidance that the broker thinks will be the more important aspect of the result. It believes the company could surprise with FY 2023 underlying insurance margin guidance close to 12%, compared to consensus estimate of 11.5%.

The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Why did the ASX 200 leap higher on rising unemployment data?
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why are Newcrest shares slipping on Thursday?
• 2 ASX 200 shares soaring over 9% on strong results

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 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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