In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. At the time of writing, the benchmark index is up 0.4% to 7,191.9 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are falling:
Australian Ethical Investment Limited (ASX: AEF)
The Australian Ethical share price is down 5% to $7.67. Investors appear disappointed with the fund manager’s half year results. Although the company delivered a 35% increase in revenue to $35.2 million, its net profit only grew 5% to $5.4 million. This led to Australian Ethical declaring a flat interim dividend at 3 cents per share.
Domino’s Pizza Enterprises Ltd (ASX: DMP)
The Domino’s share price has tumbled 13.5% to $86.67. Investors have been selling the pizza chain operator’s shares after its half year earnings fell short of expectations. Domino’s reported an 11.1% increase in network sales but a 5.3% decline in underlying net profit after tax to $91.3 million. This earnings miss was driven largely by its underperformance in Asia.
Scentre Group (ASX: SCG)
The Scentre share price is down almost 5% to $3.00. This morning the shopping centre operator released its full year results and revealed a big improvement in its performance. This allowed Scentre to declare a 14.25 cents per share distribution, which is double what it paid a year earlier. However, taking the shine off the result was that its FFO per share came in below consensus estimates.
St Barbara Ltd (ASX: SBM)
The St Barbara share price is down 3% to $1.40. Investors have been selling this gold miner’s shares following the release of its half year results. For the six months ended 31 December, St Barbara reported a 63% decline in underlying profit to $15.1 million. This was driven by weak production during the half.
The post Why Australian Ethical, Domino’s, Scentre, and St Barbara shares are falling appeared first on The Motley Fool Australia.
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More reading
- These 3 ASX 200 shares are topping the volume charts this Wednesday
- Australian Ethical Investment (ASX:AEF) share price falls despite profit boost
- Profits down: St Barbara (ASX:SBM) share price slides 5% on half-year results
- Slow down: Why the Domino’s (ASX:DMP) share price is sinking 16%
- Dividend up 103%, but Scentre Group (ASX:SCG) share price down. What gives?
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. owns and has recommended Australian Ethical Investment Ltd. The Motley Fool Australia has recommended Australian Ethical Investment Ltd. and Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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