What is Morgans saying about Jumbo Interactive and Tabcorp shares?

S&P/ASX 300 Index (ASX: XJO) shares are 0.06% higher at 9,119.8 points on the final day of earnings season today.

The ASX 300 reached a new all-time high of 9,134.4 points in earlier trading.

Meanwhile, the brokers have been busy reviewing company reports and re-rating ASX 300 shares as buys, holds, or sells.

Let’s take a look at what Morgans thinks of these two ASX 300 companies following their 1H FY26 reports.

Jumbo Interactive Ltd (ASX: JIN)

The Jumbo Interactive share price is $9.91, up 2.2% on Friday.

This ASX 300 gaming share has fallen 14.2% over the past 12 months.

Jumbo Interactive reported revenue of $85.3 million, up 29%, and total transaction value of $524.1 million, up 15.6%, for 1H FY26.

Underlying EBITDA climbed 22.6% to $37.5 million, and underlying net profit after tax (NPAT) increased 22.6% to $22.8 million.

Statutory NPAT was $15.5 million, down 13.4%.

Jumbo Interactive shares will pay a fully-franked interim dividend of 12 cents per share.

Morgans maintained its buy rating on the ASX 300 gaming share, commenting:

Jumbo Interactive (JIN) reported a solid 1H26 result, with most headline metrics pre-released.

While Lottery Retailing was impacted by a softer jackpot cycle, offshore segments delivered encouraging growth and margin expansion.

Managed Services continues to build momentum, with Canada EBITDA guidance upgraded and the UK tracking nicely.

Underlying SaaS trends remain healthy ex-Lotterywest.

Following the update, we believe JIN can delever by FY27F, assuming a normalisation in Australian jackpot activity and continued offshore earnings growth.

The broker kept its 12-month share price target unchanged at $14.90.

Tabcorp Holdings Ltd (ASX: TAH)

The Tabcorp share price is $1.07, up 3.9% on Friday.

This ASX 300 gaming share has soared 47.9% over the past 12 months.

Tabcorp smashed expectations with a 61.5% increase in NPAT (before significant items) to $35.7 million for 1H FY26.

This led to a 21.3% surge in the Tabcorp share price on the day.

Group revenue was $1,344.9 million, up 1% year over year, and EBITDA (before significant items) was $217.4 million, up 14.3%.

Tabcorp shares will pay an unfranked interim dividend of 1.5 cents per share, up 50% on last year.

After reviewing the numbers, Morgans maintained its accumulate rating on this ASX 300 gaming share.

The broker said:

Tabcorp Holdings (TAH) reported a very strong 1H26 result, with resilient turnover, improved margins and disciplined cost control driving double-digit EBITDA growth despite a softer wagering yield environment through the Spring Carnival and Footy Finals period.

New and exclusive products resonated well, particularly with younger cohorts, with digital turnover among 18-24 year olds up +14%.

The broker increased its 12-month price target on Tabcorp shares from $1.07 to $1.20.

The post What is Morgans saying about Jumbo Interactive and Tabcorp shares? appeared first on The Motley Fool Australia.

More reading

• Are Tabcorp shares a buy after soaring 24% following its half-year result?
• Here are the top 10 ASX 200 shares today
• Tabcorp shares surge higher after net profit smashes expectations
• Tabcorp FY26 half-year result: Earnings grow, dividends rise
• Jumbo reports half-year results. Here’s what investors need to know

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 positions in and has recommended Jumbo Interactive. The Motley Fool Australia has recommended Jumbo Interactive. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.