Category: Stock Market

Shares of diversified miner BHP Group Ltd (ASX: BHP) were rangebound today and finished flat at $40.15 apiece.

Meanwhile, the benchmark S&P/ASX 200 index (ASX: XJO) finished down more than 120 basis points on the day at 6,677.

Why were BHP shares defensive today?

While today was a day in the red for the ASX 200, it wasn’t such a sad story for the S&P/ASX 200 Materials index (ASX: XMJ).

It finished just 65 basis points down, extending a period of volatility for the materials basket.

However, the market is also undergoing somewhat of a ‘reset’ now with the Reserve Bank of Australia (RBA) committing to the warpath of containing inflation.

That means a ‘flight to quality’ amongst risk assets, seeing more defensible assets such as the US dollar and defensive equities catch a strong bid in 2022.

In fact, the quality ‘factor’ has been seeing good results this year.

“Research from broker Ausiex shows that the traded value of quality-related stocks and exchange-traded funds is up 13.5% compared to last year,” The Australian Financial Review reports.

According to Morgan Stanley Capital International – a leading provider of financial indices and exchange-traded funds (ETFs) – the quality factor is well positioned to outperform in the current investment landscape.

The MSCI Quality Indexes are designed to reflect a quality growth investment strategy by identifying stocks with historically high return on equity, stable year-over-year earnings growth, and low financial leverage.

MSCI 2022

As seen on the chart below, from the period of October 1991 to date, BHP historically tends to move in close unison with the benchmark index . The blue line in the bottom frame further indicates this positive correlation.

However, as investors shift up in the quality spectrum in 2022, it’s names like BHP that tend to stand out. A deeper dive into the numbers shows us why.

First is that BHP shares trade at just 7.26 price-to-earnings (P/E) ratio, only a step ahead of the GICS Metals and Mining Industry’s median of 6.7 times.

BHP also printed $25.21 million in company-reported free cash flow in FY22 whilst delivering a 44% return on its invested capital.

It also recognised a 34% net profit margin, up more than 10 percentage points from the year prior.

As a result, the company enjoyed a 43% return on equity (ROE) in FY22, putting it well ahead of rival mining giants like Rio Tinto and Fortescue.

The share also trades at 3.1 times book value, meaning the investor ROE is 13.8%. Meantime, BHP also generated 64 cents for every $1 invested into its asset base last year as well.

These impressive results saw the company reduce its debt load from $20.9 billion down to $16.42 billion from FY21–FY22. Debt now makes up just 17.2% of total assets, down from 26% back in 2017.

According to Refinitiv Eikon data, the consensus of analyst estimates also has it to deliver an 8.16% forward dividend yield at the current share price.

However, 11 out of the 20 analysts covering BHP shares say it is a hold right now, versus 9 saying to buy, per Refinitiv.

The consensus price target is $43.04, implying a small amount of upside potential if correct.

Meantime, BHP shares have gained more than 19% over the past 12 months.

The post Why did BHP shares avoid Monday’s sell-off? appeared first on The Motley Fool Australia.

.

More reading

• Leading brokers name 3 ASX shares to buy today
• Could this spell trouble for the BHP share price?
• Morgans names the ASX 200 mining shares to buy and sell
• Brokers give their verdict on the BHP share price
• What’s the outlook for ASX 200 energy shares in Q2?

Motley Fool contributor Zach Bristow 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.

from The Motley Fool Australia https://ift.tt/OSdhGap

These three ASX mining shares soared higher than the S&P ASX 200 Materials Index (ASX: XMJ) today.

Besra Gold Inc (ASX: BEZ), TNG Ltd (ASX: TNG), and Galileo Mining Ltd (ASX: GAL) all surged by more than 10%. The Materials Index fell nearly 1%.

Let’s take a look at why these three ASX mining shares had such a good day.

Besra Gold

Besra Gold shares exploded 61% today. At one point, Besra shares soared 103%. Besra is exploring the Bau Gold project.

The company announced a capital raise at a premium to the last closing price of 3.2 cents. Besra signed an agreement with US-based Quantum Metal Recovery to issue 11.1 million shares at 9 cents per share. This will raise $1 million. Besra is also in discussions with Quantum for broader funding support.

Commenting on the news, Besra Gold CEO Dr Ray Shaw said:

I am very excited with the enthusiasm Quantum has shown for Bau and I look forward to further developing our relationship.

TNG

The TNG share price soared 15% today. TNG is exploring the Mount Peake vanadium, titanium and iron project in the Northern Territory.

Today, TNG advised it has appointed senior mining executive Rowan Johnston to the board as a non-executive director. Johnston has 30 years of experience in the mining and processing industry.

Commenting on the news, TNG chairman Neil Biddle said:

I have had a long association with Rowan, most recently at Bardoc Gold, and I know him to be a man of great integrity, vast experience, strong commercial acumen and a keen strategic mindset.

Galileo Mining

Galileo Mining shares soared 13% today. The company is exploring palladium, platinum, gold, rhodium, nickel and copper in Western Australia.

Drilling at the company’s Callisto discovery intersected with nickel sulphide mineralisation up to 51 metres. Lab assays will be conducted to find out if other metals, including palladium and platinum, are present.

Managing director Brad Underwood said:

We are very excited to be rapidly progressing this new discovery and look forward to updating the market as results become available.

The post Three ASX mining shares that blasted 13 to 61% higher on Monday appeared first on The Motley Fool Australia.

.

More reading

• Why Actinogen, Core Lithium, Fortescue, and Galileo Mining shares are pushing higher
• Why is the Galileo Mining share price marching higher on Tuesday?
• Up 500% since May, can the Galileo Mining share price keep shooting for the stars?

Motley Fool contributor Monica O’Shea 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.

from The Motley Fool Australia https://ift.tt/IPHLayf

The S&P/ASX 200 Index (ASX: XJO) followed Wall Street into the red on Monday. The index closed 1.4% lower at 6,667.8 points.

Its tumble appeared to follow similar suffering on US markets on Friday after strong employment data stoked expectations of further rate hikes. The Dow Jones Industrial Average Index (DJX: .DJI) fell 2.1% on Friday, as the S&P 500 Index (SP: .INX) plunged 2.8%, and the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) plummeted 3.8%.

Unsurprisingly, then, the S&P/ASX 200 Information Technology Index (ASX: XIJ) was one of the market’s worst-performing sectors today, dumping 2.6%.

Interestingly, the S&P/ASX 200 Consumer Staples Index (ASX: CSJ) led the way, falling just 0.3%.

Meanwhile, the S&P/ASX 200 Materials Index (ASX: XMJ) fell 0.9% and the S&/ASX 200 Energy Index (ASX: XEJ) dumped 1.1% despite rising oil prices.

The Brent crude oil price lifted 3.7% to US$97.92 a barrel on Friday, while the US Nymex crude oil price gained 4.7% to US$92.64 a barrel.

But which ASX 200 share outperformed all others on Friday? Let’s take a look.

Top 10 ASX 200 shares countdown

The Sims Ltd (ASX: SGM) share price topped the lot on Monday, gaining 2.2%. That’s despite no news having been released by the metal recycling company.

Today’s biggest gains were made by these shares:

ASX-listed company	Share price	Price change
Sims Ltd (ASX: SGM)	$13.10	2.18%
Fortescue Metals Group Limited (ASX: FMG)	$17.63	1.85%
Tabcorp Holdings Limited (ASX: TAH)	$0.97	1.57%
Rio Tinto Limited (ASX: RIO)	$97.49	0.85%
BlueScope Steel Limited (ASX: BSL)	$16.31	0.68%
Coles Group Ltd (ASX: COL)	$16.40	0.61%
Worley Ltd (ASX: WOR)	$13.31	0.53%
Chorus Ltd (ASX: CNU)	$6.75	0.45%
Star Entertainment Group Ltd (ASX: SGR)	$2.60	0.39%
Link Administration Holdings Ltd (ASX: LNK)	$3.23	0.31%

Our top 10 ASX 200 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

.

More reading

• Can the Macquarie share price crack the $200 mark again?
• The Coles share price has tumbled 15% in seven weeks. Time to go shopping?
• This ASX 200 company has just been hit by its own Optus-style cyber attack. Here’s the latest.
• Share market sell-off: 3 top ASX shares to buy now
• Why Actinogen, Core Lithium, Fortescue, and Galileo Mining shares are pushing higher

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 positions in and has recommended Link Administration Holdings Ltd. The Motley Fool Australia has positions in and has recommended COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/zSiAJdM

New Hope Corporation Limited (ASX: NHC) shares joined the broader sell-off today, but remain up 24% over the past month. A month that saw the S&P/ASX 200 Index (ASX: XJO) lose 4%.

Year-to-date that number is even more impressive, with the ASX 200 coal miner up 190% while the benchmark index fell 12%.

New Hope, as you’re likely aware, has benefited greatly from the soaring price of coal amid a global energy crunch. Particularly thermal coal, which hit record highs this year and is still trading at a historic high of US$385 per tonne.

But with those kinds of gains already in the bag, is it too late to buy New Hope shares?

Is it too late to buy the stock?

According to Morgans, investors can likely still buy New Hope shares and look to bank some solid gains.

The broker retained its add rating on the coal miner and increased its target for the New Hope share price to $7.20. That’s 6.7% above the current price of $6.75 per share.

Morgans’ bullishness stems from coal prices coming in above expectations, along with the potential approval of the Associated Water Licence (AWL) at its New Acland Mine in Queensland. It said this “under-recognised catalyst” could add 70 cents per share to the miner’s value.

Braden Gardiner, from Tradethestructure, has a hold recommendation on the miner, but he does expect New Hope shares “to remain in an uptrend”.

According to Gardiner (courtesy of The Bull):

The share price has soared this calendar year on the back of booming coal prices. A big dividend increase announced at its full year 2022 results generated further support from income investors. In the absence of a short-term solution to the energy crisis, I expect NHC to remain in an uptrend.

New Hope shares pay a trailing dividend yield of 3.5%.

How have New Hope shares been tracking longer-term?

ASX 200 investors who bought New Hope shares five years ago will be sitting on a gain of 247% today. That compares to a 15% gain posted by the ASX 200 over that same time.

The post Up 24% in a month, is it too late to buy New Hope shares? appeared first on The Motley Fool Australia.

.

More reading

• Could dark clouds be gathering for ASX 200 coal shares?
• 4 ASX 200 directors who raised the stakes in their company shares in September
• After a smashing first quarter, what’s the outlook for ASX coal shares in Q2?
• 3 ASX 200 shares smashing all-time highs on Thursday
• These were the best-performing ASX 200 shares in the first quarter of FY23

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.

from The Motley Fool Australia https://ift.tt/jJldLBI

It’s been a rough year for the Macquarie Group Ltd (ASX: MQG) share price.

The stock cracked a new all-time high of $217.32 in January before plunging into the red amid the release of the company’s full-year earnings in May.

It has continued on a wobbly downwards trajectory since, hitting its 52-week low of $149.51 last week.

Since then, the Macquarie share price has rebounded to trade at $159.49 in late afternoon trading on Monday.

But does the company have what it takes to drive its share price 26% higher to meet (or surpass) the $200 mark in the near future? Well, that depends on who you ask.

Can the Macquarie share price surpass $200?

The Macquarie share price has underperformed against both the S&P/ASX 200 Index (ASX: XJO) and other major banks this year.

Its 25% year-to-date tumble compares poorly against the 12% fall posted by the index and the 14% slump experienced by the worst-performing big four bank stock – Australia and New Zealand Banking Group Ltd (ASX: ANZ).

But brokers are hopeful for the Macquarie share price’s future.

While Goldman Sachs doesn’t think it will reach $200 any time soon, it is tipping gains. Though, it’s not bullish enough to warrant slapping the stock with a buy rating.

The top broker is neutral on Macquarie, dropping its price target to $194.03 following the company’s latest announcement in July. That still represents a potential 22% upside.

Since then, the Reserve Bank of Australia has upped the benchmark interest rate three times to reach 2.6% this month.

That spells both good and bad news for banks. It allows them to reprice their loans and increase their profits, but it also increases risks for their loan books.

But rising rates isn’t what broker Morgans likes about the investment banking giant. The broker likes the bank’s exposure to renewables and infrastructure and its increasing share of the Australian mortgage market.

Morgans has an add rating and a $215 price target on Macquarie shares, my Fool colleague James reports. If all goes how Morgans expects, the banking giant’s shares will clamber back onto the horse over the coming 12 months.

The post Can the Macquarie share price crack the $200 mark again? appeared first on The Motley Fool Australia.

.

More reading

• This ASX 200 company has just been hit by its own Optus-style cyber attack. Here’s the latest.
• Share market sell-off: 3 top ASX shares to buy now
• Expert tips this ASX 200 mining company to grow earnings by 80% in the next 2 years
• Up 14% in 2 weeks, has the Santos share price reached its top?
• Fortescue share price shrugs off ASX 200 rout to leap higher on Monday

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

from The Motley Fool Australia https://ift.tt/neDfNaJ

The Coles Group Ltd (ASX: COL) share price has started the week positively.

In afternoon trade, the supermarket giant’s shares are defying the market weakness and rising 0.5% to $16.39.

Despite this, the Coles share price remains down a disappointing 15% over the last seven weeks.

Is the Coles share price weakness a buying opportunity for investors?

One leading broker that believes the Coles share price is trading at an attractive level is Morgans.

According to a recent note, the broker has retained its add rating with a $20.00 price target. This implies potential upside of 22% for investors over the next 12 months.

Another positive is that this potential return increases to 26% if you include the 65 cents per share fully franked dividend that Morgans is forecasting in FY 2023.

Why is the broker positive?

Morgans sees the Coles share price as a great option for investors for a couple of reasons. One is the company’s strong market position. It explained:

The Australian supermarket sector is dominated by Woolworths and Coles with a combined market share of ~70%. This gives the two largest operators scale advantages over smaller rivals, strong bargaining power with suppliers, and financial capacity to invest for growth.

Another reason is the attractive level that its shares trade at given the company’s defensive qualities. Morgans commented:

Our equally-blended (DCF, SOTP, PE) target price remains unchanged at $20.00. Trading on 21.0x FY23F PE and 3.9% yield we continue to see COL as offering good value with the company possessing defensive characteristics that should hold up relatively well in a weaker economic environment.

All in all, the broker appears to believe that this could make the supermarket giant one to consider if you’re looking for new portfolio additions this month.

The post The Coles share price has tumbled 15% in seven weeks. Time to go shopping? appeared first on The Motley Fool Australia.

.

More reading

• Buy these 2 ASX dividend shares supercharged by acquisitions: experts
• Could the Coles share price be in for a better month in October?
• Down 9% in a month, could the Woolworths share price turn around in October?
• Here are 2 ASX 200 dividend shares that analysts have slapped buy ratings on
• Coles shares: Buy, hold, or fold?

from The Motley Fool Australia https://ift.tt/ZJEpSTH

The Bitcoin (CRYPTO: BTC) price fell back below the psychologically important US$20,000 level over the weekend. And it’s yet to recover.

At the time of writing, the world’s original crypto is trading for US$19,452 (AU$30,640).

That’s after BTC traded as high as US$20,408 early last Friday.

So, what’s putting the Bitcoin price under pressure?

Why is the Bitcoin price back under US$20,000 today?

Bitcoin can’t seem to reliably shake its close correlation with risk assets, like high-growth tech shares.

Crypto prices broadly came under pressure on Friday after the release of an unexpectedly strong September jobs report out of the United States, which sent the NASDAQ to close 3.8% lower. The world’s top economy saw unemployment fall to a 50-year low of 3.5%. And a 5% year-on-year increase in wages showed inflation is unlikely to disappear anytime soon.

In a case of good news is bad news for the Bitcoin price, the strong economic numbers mean crypto investors can expect further aggressive tightening from the US Federal Reserve in its bid to get the inflation genie back in its bottle.

Indeed, as Fed governor Christopher Waller said, “Until we see any signs of inflation beginning to moderate, I don’t know how we pause.”

With interest rates ratcheting up rapidly in 2022, the Bitcoin price has crashed 59% year to date.

What are the experts saying?

Chief market strategist at B Riley Art Hogan pointed to the sharp fall in money supply (M2) in the US as pressuring cryptos.

According to Hogan (as quoted by Bloomberg):

The logic would be that with the money supply, or M2, coming down, there’s less money floating around that could find its way into risk assets. And clearly cryptocurrencies have proven to be risk assets over the course of the last 12-18 months. You’d suspect that would be a negative for some of the riskier edges of the investment universe.

Portfolio strategist at New York Life Investments Lauren Goodwin added that, like gold, the Bitcoin price and other cryptos aren’t living up to their hype as inflation hedges.

“The reality is not so much that crypto is an inflation hedge but rather, much like gold has become, it evolves with central-bank liquidity,” she said. “So the reversal of excess liquidity in the economy from the Fed and other central banks has contributed meaningfully, in my perspective, to the lower appetite for digital currencies.”

So, when can crypto investors expect a sustained rebound in the Bitcoin price?

Keep an eye on those US inflation figures.

The post The Bitcoin price just tumbled back below US$20,000. What’s happening? appeared first on The Motley Fool Australia.

.

More reading

• This is the biggest concern for crypto investors heading into the new quarter
• Did the Bitcoin price outperform the ASX 200 in the first quarter?
• What can crypto investors expect from the Bitcoin price in October?
• Why Bitcoin and Ethereum are rising today
• Why did the Bitcoin price outperform the NASDAQ in September?

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

from The Motley Fool Australia https://ift.tt/eHXt5Cn

An ASX 200 company has been hit by a “malicious” IT phishing attack.

Costa Group Holdings Ltd (ASX: CGC), a large fresh produce grower and marketer, advised of the attack late last week.

Costa shares fell 1.79% before recovering to their current price of $2.23, 0.45% lower. For perspective, the S&P/ASX 200 (ASX: XJO) is down 1.31% today.

Cyber attack

Costa advised the “sophisticated” attack took place on 21 August. A review of the incident took place at that time.

The attack involves 10% of data on a single server at Costa’s Corindi, NSW site.

Costa said most of the information stored on the server is not personal information. But there is a risk personal information of workers on the company’s berry farms has been accessed.

This could include passport details, bank details, superannuation details, and tax file numbers.

In September, 10 million Optus customer records were stolen in a major cyber hack.

However, unlike Optus, the attack on Costa’s system does not include customer records.

There is no evidence any personal information of workers has been leaked online at this stage.

Commenting on the news, Costa interim CEO Harry Debney said:

This is a malicious attack, which was sophisticated in its execution.  Our first concern is for the impact this may have on our current and former employees.

I can also confirm that no core business applications were accessed, nor was any customer or supplier data comprised by the attack.

Costa recommends those impacted take steps to minimise risk of the data being used unlawfully.

The company has also notified authorities of the attack.

Share price snapshot

The Costa share price has fallen 27%in the past year, while it has lost 26.6% in the year to date.

Costa has a market capitalisation of more than $1 billion based on the current share price.

The post This ASX 200 company has just been hit by its own Optus-style cyber attack. Here’s the latest. appeared first on The Motley Fool Australia.

.

More reading

• Share market sell-off: 3 top ASX shares to buy now
• Expert tips this ASX 200 mining company to grow earnings by 80% in the next 2 years
• Up 14% in 2 weeks, has the Santos share price reached its top?
• Fortescue share price shrugs off ASX 200 rout to leap higher on Monday
• What are experts predicting will be the best-performing ASX sectors in Q2 FY23?

Motley Fool contributor Monica O’Shea 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 recommended COSTA GRP FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/2sV9XaZ

With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

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

BHP Group Ltd (ASX: BHP)

According to a note out of Morgans, its analysts have retained their add rating but trimmed their price target on this mining giant’s shares slightly to $47.40. Morgans remains bullish on BHP due to its strong free cash flow generation and low risk profile. It notes that there is less that “can go wrong” relative to its peers. The BHP share price is trading at $40.12 on Monday afternoon.

GQG Partners Inc (ASX: GQG)

Another note out of Morgans reveals that its analysts have retained their add rating but cut their price target on this fund manager’s shares to $1.93. This follows the release of a funds under management update that disappointed. Nevertheless, Morgans remains positive. It notes that GQG’s investment performance remains strong, its shares are trading at an attractive level, and the weaker Australian dollar could be a boost to its dividend. The GQG share price is fetching $1.45 today.

Monash IVF Group Ltd (ASX: MVF)

Analysts at Bell Potter have initiated coverage on this fertility treatment company’s shares with a buy rating and $1.43 price target. According to the note, Bell Potter is positive on Monash IVF’s outlook thanks to a combination of new rebates, its regional expansion, and motivated customers. It is expecting this to underpin strong earnings growth through to FY 2025. The Monash IVF share price is trading at 94 cents on Monday.

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

.

More reading

• Could this spell trouble for the BHP share price?
• Morgans names the ASX 200 mining shares to buy and sell
• Brokers give their verdict on the BHP share price
• Why Appen, GQG, Paradigm, and Talga shares are tumbling lower
• What’s the outlook for ASX 200 energy shares in Q2?

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.

from The Motley Fool Australia https://ift.tt/ONVgPkm

ASX shares that drop in price could present good opportunities for investors if their long-term prospects still look promising. The share market sell-off that we’ve seen so far this year – and is being continued today — could be a useful time to go hunting.

The S&P/ASX 200 Index (ASX: XJO) is down another 1.38% today at the time of writing.

I should point out that just because something has fallen in price doesn’t automatically mean that it’s better value. For example, an ASX share’s prospects could have worsened, leading investors to rightly reduce their expectations of the company in the future.

In my opinion, the below three businesses look very interesting at the current levels.

Johns Lyng Ltd (ASX: JLG)

This business describes itself as “Australia’s leading integrated building services provider, delivering building, restoration, strata and energy services nationally and internationally. The group’s core business is built on its ability to rebuild and restore a variety of properties and contents after damage by insurable events including: impact, weather and fire events.”

It has clients that include major insurance companies, insurance brokers, loss adjusters, commercial enterprises, local and state governments, body corporates/owners’ corporations, and retail customers.

At the time of writing, the Johns Lyng share price has fallen almost 13% today and it’s down 37% in the year to date.

The business gave an update today and explained its CEO has sold four million shares to fund his relocation to the US as well as the purchase of a home there, along with tax liabilities. CEO Scott Didier still owns 19% of the business.

The business has reaffirmed its FY23 guidance that it’s expecting ‘business as usual’ (BaU) revenue to rise 27.4% to $930.4 million and that BaU EBITDA could rise by 43.3% to $93 million.

I think this business has plenty of growth potential because of its increasing exposure to weather events such as storms and floods, and because it’s growing its presence with its existing and new clients.

Pushpay Holdings Ltd (ASX: PPH)

Pushpay is an ASX tech share that I believe has a compelling future. It offers digital donation tools and church management software for church organisations in the US. The business started off by targeting large and medium churches but it’s now trying to win over small churches as well.

The ASX share recently announced it has won the US Army Chaplin Corps as a customer. The army will use a tailored Pushpay software and apps solution for its 51 ministries around the world.

I think this business can benefit from the ongoing adoption of digital payments while growing profit margins thanks to operating leverage.

Another thing to keep in mind is that private equity group BGH Capital may still be interested in buying the business, according to reporting by the Australian Financial Review.

Since the beginning of 2022, the Pushpay share price is down almost 40% over the past year, so I think it could be an opportunity at this lower price.

Audinate Group Ltd (ASX: AD8)

The Audinate business offers the Dante IP networking solution, which claims to be a worldwide leader of AV signals. It works by replacing analogue cables and is used extensively in the professional live sound, commercial installation, broadcast, public address, and recording industries.

I think that the Audinate share price looks much cheaper after falling around 7% today and it’s down 30% since 5 August 2022.

Investing in worldwide leaders can make a lot of sense, particularly if they’re growing quickly. The ASX share’s FY22 revenue rose 33.4%. It said it’s entering FY23 with a backlog and software revenue run-rate to support revenue growth in US dollar terms in the “historical range”.

I’m also excited by the progress it’s making with the video side of things. Video revenue is expected to be at least US$3 million in FY23.

The post Share market sell-off: 3 top ASX shares to buy now appeared first on The Motley Fool Australia.

.

More reading

• Why Dubber, Johns Lyng, Seek, and St Barbara shares are sinking today
• Expert tips this ASX 200 mining company to grow earnings by 80% in the next 2 years
• Up 14% in 2 weeks, has the Santos share price reached its top?
• Fortescue share price shrugs off ASX 200 rout to leap higher on Monday
• What are experts predicting will be the best-performing ASX sectors in Q2 FY23?

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 AUDINATEGL FPO, Johns Lyng Group Limited, and PUSHPAY FPO NZX. The Motley Fool Australia has positions in and has recommended AUDINATEGL FPO and PUSHPAY FPO NZX. The Motley Fool Australia has recommended Johns Lyng Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/4s6jM2n