Category: Stock Market

The Zip Co Ltd (ASX: ZIP) share price has seen an enormous amount of pain. Over the past year it’s down more than 70%.

But, interestingly, the company has risen by over 40% in the last month. This may beg the question – has the buy now, pay later business seen the worst of the decline?

The higher interest rates have significantly changed the picture for Zip. Not only has it completely taken the heat out of high growth and speculative ASX shares in general, but the economics of buy now, pay later may be impacted in time as their interest costs rise.

Remember, the BNPL players don’t operate with much of a profit margin, so higher interest costs could significantly change the long-term outlook of the business.

Latest quarterly update

One of the factors that can negatively impact the share price of a business is if investors believe the company will need to carry out a capital raising to continue to fund its operations until it can reach breakeven.

A capital raising would mean the company’s (future) earnings are being split between more shares. Businesses also typically have to do a capital raising at a discount to the share price to make it enticing to investors.

Earlier this week, Zip released its update for the three months to 31 December 2022.

It announced quarterly revenue of $188 million, which was up 12% year over year.

Zip revealed that the cash transaction margin was 2.6% for the quarter, up from 2.2% in the first quarter of FY23, which it said was in line with medium-term targets. Management said this was a great result in a rising interest rate environment. This margin could be key for the Zip share price.

The revenue margin was 6.9%, up from 6.4% in the second quarter of FY22, which reportedly reflected seasonality.

At 31 December, the company had cash and liquidity of $78.5 million, which it said it “expected to be sufficient reserves to support the company through” to cash profitability at the earnings before tax, depreciation and amortisation (EBTDA) level.

A large factor for the improving situation may be pinned on the performance of the US segment.

Zip US achieved positive cash EBTDA in November and December and “is on track to exit FY23 cash EBTDA positive on a sustainable basis.” Zip saw credit loss rates improve “substantially to 1.1% of total transaction value (TTV)”, down from 2.4% in the first quarter of FY23.

Has the Zip share price bottomed?

My crystal ball isn’t working at the moment. But, the S&P/ASX 200 Index (ASX: XJO) saw lows last year during June and October, when fears about inflation and interest rates were particularly elevated. Just the easing of investor pessimism may mean we’ve already seen the worst for the Zip share price.

The fact that the business is seeing increasing profitability is a good sign, particularly if Zip can show it’s getting closer to sustainable operations. But, cash EBTDA is not the same as making a net profit after tax (NPAT).

Analysts are mixed on Zip shares at the moment. According to Commsec, two analysts rate it as a buy, three rate it as a hold and four rate it as a sell.

Zip isn’t one on my watchlist, but if I had to guess I’d say it is likely to have already seen the bottom as long as it keeps moving towards cash breakeven.

The post The Zip share price: Has it bottomed out? appeared first on The Motley Fool Australia.

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More reading

• Why Coronado Global, Mincor, OFX, and Zip shares are dropping today
• Zip share price on the move amid record quarter and US profitability
• Why Boss Energy, Pilbara Minerals, Sezzle, and Zip shares are charging higher
• Why is the Zip share price rocketing 18% higher today?
• Should I buy the dip on Zip shares right now?

Motley Fool contributor Tristan Harrison 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 Zip Co. 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 of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a number of broker notes this week.

Three ASX shares brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Breville Group Ltd (ASX: BRG)

According to a note out of Morgans, its analysts have retained their add rating and $25.00 price target on this appliance manufacturer’s shares. Although the broker acknowledges that Breville’s product range is clearly discretionary and expects to demand to weaken in the months ahead, it believes its shares are great value. Particularly in comparison to rival DeLonghi. It suspects that a solid result in February could put a rocket under them. The Breville share price is trading at $22.17 today.

Suncorp Group Ltd (ASX: SUN)

A note out of Goldman Sachs reveals that its analysts have initiated coverage on this insurance and banking giant’s shares with a buy rating and $13.88 price target. The broker believes rate increases have been strong and accelerated during the first half. It also suspects that a clear and rational focus on pricing and margins will offset higher reinsurance costs, perils allowances, and underlying claims inflation. Another positive is the prospect of significant capital returns after the sale of its banking operations. The Suncorp share price is fetching $12.75 today.

Universal Store Holdings Ltd (ASX: UNI)

Another note out of Morgans reveals that its analysts have retained their add rating and $6.70 price target on this fashion retailer’s shares. Morgans believes that Universal Store is one of the most underrated retailers on the Australian share market. It highlights that the company offers investors network growth, resilient demand, and price and cost discipline. The Universal Store share price is trading at $5.76 this afternoon.

The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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• Here are the top 10 ASX 200 shares today
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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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It’s been a relatively positive start to this Wednesday’s trading session on the ASX boards. At the time of writing, the All Ordinaries Index (ASX: XAO) is up by a tentative 0.05% at just over 7,700 points. But one ASX retail share that seems to be bucking the broader market is Dusk Group Ltd (ASX: DSK).

Dusk shares aren’t having a great time of it today. While the All Ords is in positive territory, the Dusk share price has plunged by 2.9% at the time of writing to $2.01 a share. That’s after closing at $2.07 yesterday.

It was even worse for Dusk this morning too. Just after market open, the candle and fragrance company fell as low as $1.98 a share. That was a fall of around 4% at the time.

So what’s going on with Dusk today that has elicited this market-bucking fall?

King cashes out

Well, it could have something to do with the ASX announcement Dusk released to the markets before the opening bell this morning.

This ASX release announced the resignation of Dusk’s long-term CEO Peter King. King has been CEO of Dusk since 2014 but will step down from the role in August this year. A successor has not yet been chosen. But Dusk has declared that “a search will now commence for a new CEO”.

Here’s some of what the now-outgoing CEO had to say about his departure:

Having just completed my ninth Christmas as CEO of dusk, I believe now is the right time for someone else to take the Company forward. I would like to acknowledge the hard work of our executive team and thank the Board for their support and guidance.

Dusk’s culture is deeply rooted in our commitment to delight our customers with affordable everyday luxury. I am focused on closing out FY23 strongly and will work closely with the Board to identify an outstanding future leader for the Company.

Chair John Joyce added the following:

The Board would like to thank Peter for the invaluable contribution he has made since 2014. The Company has been transformed under his leadership. Peter has built an outstanding executive team, dramatically grown our revenues and earnings, driven the omni–channel transformation strategy, and led the IPO in 2020. He will leave the business in excellent shape.

Peter is a ‘team and Company first’ leader. Consistent with this approach, Peter will continue to lead dusk through to mid–2023. Peter plans to do a fulsome handover to a new CEO when identified…

Dusk is scheduled to provide its earnings report for the first half of FY2023 next month on 24 February. The company has stated that investors will be updated on the search for a new Dusk CEO when these earnings are released.

Dusk share price snapshot

As the company alluded to in its announcement today, Dusk is an ASX retail share that has been listed since it first IPOed in November 2020. The company reached a share price high of over $4 back in mid-2021. But Dusk has fallen significantly since then.

Today, Dusk is going for $2 a share, and remains up by around 18% since its IPO:

At the current Dusk share price, this ASX retail share has a market capitalisation of $124.5 million, with a trailing dividend yield of 10%.

The post Why is this ASX retail share suddenly plunging 4% today? appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen has positions in Dusk 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 recommended Dusk Group. 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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Houston, we have lift off! The share price of tiny tech stock Vection Technologies Ltd (ASX: VR1) is rocketing after the company revealed it will develop the world’s first virtual reality (VR) metaverse platform to promote space travel.

The platform, dubbed Lunar City, is set to launch ahead of NASA’s Artemis Program. The US space agency is working to send astronauts to the Moon for the first time in more than 50 years. The mission is expected to set the stage for a long-term presence on the lunar surface and a future voyage to Mars.

Here’s how the ASX tech share fits into the astronomical plan.

Right now, the Vection Technologies share price is soaring 10% to trade at 7.7 cents.   

ASX tech share signs on to help the public ‘reach space’

ASX tech company Vection Technologies has shaken on a memorandum of understanding that will see it providing VR and metaverse technologies to help train astronauts and space tourists.

Perhaps more excitingly though, it intends to allow the public to ‘reach space’ alongside NASA’s actual space journey. We might soon be able to do so through the fully immersive technology.

The agreement’s ultimate goal is to showcase the Artemis lunar program.

Until then, Vection Technologies, along with partners Thales Alenia Space, Next One Film Group, and ALTEC, will test technology and opportunities on space missions with commercial companies.

That will provide video imaging data from space modules and spacecraft, which will be used to create Lunar City.

Thales Alenia Space is a satellite and space modules manufacturer and owner of ALTEC – an aerospace logistics technology engineering outfit – alongside the Italian Space Agency.

Beyond NASA’s mission, the entities also share a vision to foster business opportunities by leveraging their planned space content.

They aim to develop a business plan, seek content exclusivity arrangements, and establish sales channels for the Lunar City platform. They expect to receive revenue from those they help to ‘experience’ space travel.

While the financial impact of the deal is not yet clear, the ASX tech share expects it will be material. That’s based on the calibre of the partners involved and the company’s strategy in the defence and aerospace sector.  

The post Shooting for the Moon: ASX tech share leaps 10% on deal that could send you to space appeared first on The Motley Fool Australia.

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More reading

• Majority of ASX 200 investors confident despite recession speculations: survey
• ASX 200 tech share WiseTech wobbles on $327 million US acquisition
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• Accent Group share price jumps 11% on strong sales update
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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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2022 saw S&P/ASX 200 Index (ASX: XJO) investors facing the most difficult market in many years.

Certainly, some ASX 200 stocks, predominantly energy and select resource shares, certainly did very well last year.

But soaring inflation, and the subsequent series of rapid interest rate hikes from the RBA and other global central banks, pressured the wider market with the ASX 200 finishing 2022 down 5.5%.

Yet, according to the latest quarterly Retail Investor Beat survey from social investing network eToro, Aussie retail investors are broadly shrugging off the downturn, with many viewing last year’s retrace as a buying opportunity.

ASX 200 investors looked at buying the dip

The survey of 1,000 Australian retail investors revealed that 55% were either positive or ambivalent about the tough market conditions in 2022.

18% of respondents said the downturn had actually increased their appetite for investing while 16% had ventured to buy the dip.

Commenting on the survey results, market analyst at eToro Josh Gilbert pointed to the long-term investment plans in play for many ASX 200 investors.

According to Gilbert:

It might be surprising to see investors so upbeat after the bear market of 2022, but the majority of this cohort think in years and decades – and history is on their side. Consecutive down years are rare for equities and bonds, with an average 18% S&P 500 annual gain following big falls.

For those with longer time horizons, the back end of 2022 offered the opportunity for Australian investors to buy companies at lower valuations, improving the outlook for long term returns.

Confidence up as perceived inflation threat recedes

The survey also revealed an 11% quarter-on-quarter uptick in ASX 200 investors who feel confident about their portfolios, with that number reaching 77%. That comes as the threat of inflation looks to be waning.

Investors now feel that a global recession represents the biggest risk to share markets, with 24% seeing this as the main threat.

And they’re not sitting on their laurels, with many adjusting their ASX 200 and other portfolio holdings defensively in preparation for future opportunities.

Respondents holding cash assets increased from 60% in Q3 to 79% in Q4.

Traditional defensive sectors also saw a boost, with healthcare and utilities stocks both increasing by more than 10% in Q4.

Staple consumer goods and energy also increased by more than 10% quarter on quarter.

“Although the RBA might still be able to navigate a soft landing, investors will know that most experts are predicting at least a mild global recession,” Gilbert said. “Many are repositioning accordingly, with more looking into defensive stocks as well moving to cash in Q4.”

The post Majority of ASX 200 investors confident despite recession speculations: survey appeared first on The Motley Fool Australia.

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More reading

• ASX 200 tech share WiseTech wobbles on $327 million US acquisition
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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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S&P/ASX 200 Index (ASX: XJO) tech share WiseTech Global Ltd (ASX: WTC) is edging into the green after falling in early trade.

The logistics software developer’s shares closed yesterday trading for $56.05 each and are currently swapping hands for $56.08 apiece, 0.05% higher. That’s after recovering from a drop of 0.1% at $55.50 a share this morning.

It comes after the blue-chip technology stock announced a major United States acquisition.

What acquisition was announced?

The WiseTech share price slipped after the ASX 200 tech share reported it has acquired US-based Envase Technologies in a transaction valued at US$230 million (AU$327 million).

Envase provides transport management system software for trucking and landside logistics in North America. WiseTech is acquiring the company from private investment business Firmament and a few other sellers.

With more than 1,300 customers across North America, WiseTech expects Envase to generate some US$35 million of revenue in the 2023 calendar year. The ASX 200 tech share forecasts an earnings before interest, taxes, depreciation and amortisation (EBITDA) margin in the low to mid 20% range.

Commenting on the acquisition, WiseTech CEO Richard White said:

This is a strategically significant acquisition in landside logistics, which extends and strengthens our position in one of our six key CargoWise development priority areas, and we’re extremely pleased to have the Envase team join the WiseTech Global group.

Envase CEO Larry Cuddy added:

Over the past few years, we have assembled and integrated a powerful suite of landside logistics solutions. Combined with the strength and size of WiseTech and its CargoWise platform and depth in international logistics, we have a powerful platform that we expect to further increase capacity and utilisation and drive innovation in what is an intensely complex and highly fragmented ecosystem.

WiseTech said it will fund the acquisition with 70% cash (US$161 million) and 30% new WiseTech Global shares issued to the vendors (equivalent to US$69 million).

The ASX 200 tech share expects the acquisition to be completed in February.

How has this ASX 200 tech share been tracking?

The WiseTech share price is off to a strong start in 2023, up 13%.

As you can see in the chart below, the ASX 200 tech share has gained 16% over the past 12 months.

The post ASX 200 tech share WiseTech wobbles on $327 million US acquisition appeared first on The Motley Fool Australia.

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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 positions in and has recommended WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. 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 has been a lot of activity in the mining sector on Wednesday, with a number of ASX 200 resources shares releasing their quarterly updates.

While some of these updates have gone down well with investors, others haven’t been received particularly well.

Here is a summary of what these three ASX 200 resources shares have reported today:

Iluka Resources Limited (ASX: ILU)

The Iluka share price is rising 2% today after the mineral sands producer released its fourth quarter and full year update. Iluka reported Zircon/Rutile/Synthetic Rutile (Z/R/SR) production of 157,000 tonnes for the fourth quarter, taking its full year production to 679,400 tonnes.

And while its production and sales volumes were lower year over year, stronger prices led to revenue growing 16.3% to $1,727.4 million. The company also revealed that it sold out of zircon during FY 2022.

Ramelius Resources Limited (ASX: RMS)

The Ramelius share price is falling 2% on Wednesday after the gold miner’s quarterly update disappointed investors. Ramelius reported gold production of 56,756 ounce at an all-in sustaining cost (AISC) of A$2,153 an ounce.

The latter was an increase of 12% quarter on quarter and driven largely by lower grades. However, management has reaffirmed its full year guidance of 240,000 to 280,000 ounces at an AISC of A$1,750 to A$1,950 an ounce.

Regis Resources Ltd (ASX: RRL)

The Regis Resources share price is down 3% this morning. This follows the release of the gold miner’s quarterly update. That update reveals that Regis delivered quarterly gold production of 117,300 ounces at an AISC of $1,760 an ounce.

And although management has reaffirmed its FY 2023 guidance of 450,000 to 500,000 ounces at an AISC of $1,525 to $1,625 an ounce, it expects the latter to be at the high end of its guidance range. This is due to gold production increases and strip ratios decreasing at Duketon North.

The post 3 ASX 200 resources shares on the move following quarterly updates appeared first on The Motley Fool Australia.

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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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The Accent Group Ltd (ASX: AX1) share price is soaring shortly after the market open today after the footwear retailer released a positive 1H FY23 trading update.

Accent is the company behind popular brands such as Hype DC, The Athlete’s Foot, Glue, Platypus, Sneaker Lab, and Stylerunner.

The Accent Group share price is currently up 10.7% at $2.12.

Let’s take a look at the details.

Accent Group share price goes skywards on 33% lift in sales

Accent Group reported continued strong trading through November and December.

Total sales for 1H FY23 (including franchisees) were up 33% on the same period in FY22 at $825 million. Including week 27 of the first half, sales were up 39%.

Earnings before interest and tax (EBIT) for H1 FY23 are expected to be in the range of $90 million to $92 million.

Accent said it estimates the impact of week 27 was about $36 million in sales, contributing about $10 million in marginal EBIT contribution.

What did management say?

Accent Group CEO Daniel Agostinelli said:

Deliveries of fresh new product throughout H1 and in the lead up to Christmas helped to drive higher than expected sales. Despite the impact of currency and clearance of discontinued brands, we are pleased with the year-on-year improvement in gross margin.

Overall inventory levels are clean and well positioned for the start of H2, reflecting a strong in-stock position in core lines and early deliveries of wholesale product for H2 sales.

ASX retail shares reporting strong sales despite inflation

Accent Group isn’t the only ASX retail share reporting strong continuing sales recently.

This is significant given rising inflation has worried many investors that sales in the consumer discretionary category will fall.

JB Hi-Fi Limited (ASX: JBH) recently surprised the market with record sales and earnings in its preliminary FY23 half-year results. Group sales increased 8.6% year-over-year to $5,278.5 million. Net profit after tax (NPAT) screamed 14.6% higher to $329.9 million.

Super Retail Group Ltd (ASX: SUL) also reported a record first half.

Accent Group will release its official 1H FY23 results after the market close on 23 February.

The post Accent Group share price jumps 11% on strong sales update appeared first on The Motley Fool Australia.

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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 Super Retail Group. The Motley Fool Australia has positions in and has recommended Super Retail Group. The Motley Fool Australia has recommended Accent Group and Jb Hi-Fi. 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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Wesfarmers Ltd (ASX: WES) shares report significant profit each year. But how large will the earnings total be in 2023?

For readers who don’t know, Wesfarmers is the parent company of a number of businesses including Bunnings, Kmart, Officeworks, Target, Priceline, and various industrial businesses.

Retail is currently a considerable part of the business, though Wesfarmers’ chemicals, energy, and fertilisers segment (WesCEF) is generating a very sizeable amount of profit these days.

Investors may be wondering how the company is going to perform in 2023 considering the negative impacts of inflation and higher interest rates. But the company may still report a solid year of earnings as consumers keep spending.

The conflicting factors are probably why the Wesfarmers share price has been so volatile over the last year.

Let’s look at some of the projections for the 2023 financial year.

Earnings estimates for Wesfarmers shares

Current forecasts on Commsec suggest the ASX share could generate good profit after a solid first half.

Wesfarmers may make $2.22 of earnings per share (EPS), which represents growth of close to 7% compared to the 2022 financial year.

If Wesfarmers were to make that much net profit after tax (NPAT) per share, it would mean the Wesfarmers share price is valued at 22 times FY23’s estimated earnings.

That level of profit would allow Wesfarmers to pay a very healthy dividend of $1.86 per share. This translates into a potential forward grossed-up dividend yield of 5.4%.

Profit growth is also expected in FY24, according to the numbers, with potential EPS of approximately $2.31. That would put it at 21 times FY24’s estimated earnings.

Is it good value today?

Commsec collates the opinions of a number of different analysts. I think it’s fair to say the ratings are mixed – there are three buy ratings, four holds, and three sell ratings. Goldman Sachs is one of the brokers that rates it as a sell, with a target price of just $40.60, according to Commsec. That implies a possible fall of close to 20%.

With the Wesfarmers share price up more than 6% over the past month, it’s not as cheap as it used to be.

At close to a six-month high, it may see some more volatility ahead. But, with its growing exposure to long-term tailwinds, such as healthcare and lithium, it could be one that may be able to keep performing for shareholders.

The post How much profit could Wesfarmers shares make in 2023? appeared first on The Motley Fool Australia.

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More reading

• Does Telstra sell bonds to ASX retail investors?
• My top predictions for ASX lithium shares in 2023
• Wesfarmers shares: A potential source of secondary income
• 2 of the best ASX dividend shares to buy right now: analysts
• Wesfarmers shares: Here are the dividend forecasts for 2023 and 2024

Motley Fool contributor Tristan Harrison 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 positions in and has recommended Wesfarmers. 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 Insurance Australia Group Ltd (ASX: IAG) share price has been a strong performer over the last 12 months.

Since this time in 2022, as you can see below, the insurance giant’s shares have risen over 18%.

Can the IAG share price keep climbing?

Unfortunately, one leading broker believes the IAG share price could be close to reaching its peak.

According to a note out of Goldman Sachs, its analysts have initiated coverage on the insurer with a neutral rating and $5.29 price target.

Based on its current share price of $5.06, this suggests potential upside of just 4.5%.

And while Goldman is expecting an attractive partially franked 4.7% dividend yield in FY 2023, stretching the total potential return beyond 9%, it isn’t enough for a more positive recommendation. Particularly when other insurance shares offer greater potential returns.

What did the broker say?

Goldman has outlined a number of reasons why its analysts prefer Suncorp Group Ltd (ASX: SUN) over IAG at present. It said:

We note that IAG and SUN are currently facing similar trends from an earnings perspective however we have a slight preference for SUN on valuation. SUN also has higher upside to our PT. We also note that SUN has possible catalysts on the horizon with the proposed sale of the bank/capital management as well as a possible reinsurance QS arrangement which could be supportive to margins. IAG’s QS renewal on materially consistent financial outcomes bodes favourably for SUN in this regard.

The broker has initiated coverage on Suncorp with a buy rating and $13.88 price target.

Though, it is worth noting that Goldman’s top pick in the insurance sector is QBE Insurance Group Ltd (ASX: QBE). There are seven reasons why this is the case, and you can read about them here.

The post Goldman Sachs gives its verdict on the IAG share price appeared first on The Motley Fool Australia.

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More reading

• Bought $1,000 of IAG shares 10 years ago? Here’s how much dividend income you’ve pocketed
• What do IAG shares have in common with Warren Buffett?
• Why Brainchip, IAG, Premier Investments, and Telix shares are sinking today
• Why AMP, Computershare, IAG, and Telix shares are dropping today

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 positions in and has recommended Insurance Australia Group. 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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