Tabcorp Holdings Ltd (ASX: TAH) shares surged an enormous 23.53% on Wednesday. At the close of the ASX the shares had jumped to $1.05 a piece.
It was the best-performing stock on the S&P/ASX 200 Index (ASX: XJO) for the day.
The share price rise comes off the back of the company’s half-year result for FY26, which it posted ahead of the ASX open on Wednesday morning.
It also follows news earlier this month that Tabcorp had approached Betmakers Technology Group Ltd (ASX: BET) with a potential takeover offer. To date, no formal offer has been made. Tabcorp has not made any statement about the discussions.
The price increase means Tabcorp shares are now 6.06% higher for the year-to-date and a massive 54.41% higher over the year.
What excited investors in Tabcorp’s latest results?
For the six months ending 31st December 2025, the wagering and gaming business posted a modest 1% increase in its group revenue and a 14.3% increase in EBITDA, from the prior corresponding period (pcp).
Net profit after tax (NPAT) was 61.5% higher which helped the company hike its unfranked interim dividend 50% higher to 1.5 cents per share. The registration date is the 3rd of March, with dividend shareholder payment scheduled for the 24th of March.
Tabcorp’s net debt was $631.2 million at the end of the half, with the company saying its strong balance sheet put it in a good position to pursue growth opportunities.
The results easily surpassed analysts’ expectations for half-year net profit. The team at Jarden said that the NPAT figure was a huge 34% higher than consensus estimates and that the unfranked dividend increase was also a positive surprise.
What do analysts expect from the stock for 2026?
We’ll likely see brokers confirm or adjust their outlook on Tabcorp shares in coming days. But at the time of writing, TradingView data suggests analysts are very bullish on the outlook for the stock.
Out of 12 analysts, 8 currently have a buy or strong buy rating on Tabcorp shares. The maximum target price is currently $1.20, which implies a 14.29% upside over the next 12 months. Although I wouldn’t be surprised if this was raised following the company’s result on Wednesday.
The post Are Tabcorp shares a buy after soaring 24% following its half-year result? appeared first on The Motley Fool Australia.
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Motley Fool contributor Samantha Menzies 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 Betmakers Technology Group. 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.