Category: Stock Market

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decline. At the time of writing, the benchmark index is down 0.3% to 7,216.6 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are pushing higher:

GrainCorp Ltd (ASX: GNC)

The GrainCorp share price is up 4% to $10.04. Investors have been buying this grain exporter’s shares following the release of a positive broker note out of Macquarie. Its analysts have retained their outperform rating and $11.10 price target. Macquarie believes the company’s outlook is positive thanks to the potential for another strong winter crop.

New Hope Corporation Limited (ASX: NHC)

The New Hope share price is up 2% to $3.98. The catalyst for this rise is news that this coal miner’s shares will be added to the ASX 200 index at the next quarterly rebalance. New Hope will join the benchmark index at the commencement of trade on 20 June.

Tabcorp Holdings Limited (ASX: TAH)

The Tabcorp share price is up 5% to 98.6 cents. Investors have been buying this gambling company’s shares after it settled its Racing Queensland litigation for $150 million. This settlement remains conditional upon the commencement of legislation that will implement proposed reforms by the Queensland Government. These reforms will be a very big boost to Tabcorp’s business

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is up 2.5% to $32.61. This appears to have been driven by another rise in oil prices on Friday night. Traders were bidding oil higher despite OPEC announcing plans to increase its output. They appear to expect supply to remain tight for some time to come. Oil prices have continued to rise during Asian trade.

The post Why GrainCorp, New Hope, Tabcorp, and Woodside shares are pushing higher appeared first on The Motley Fool Australia.

More reading

• Why is the Tabcorp share price racing higher today?
• ASX 200 midday update: Magellan smashed, Liontown signs Tesla deal
• Woodside shares or Whitehaven? What’s the best ASX 200 value play?
• Appen and PolyNovo tumble after being kicked out of the ASX 200 along with these shares
• 5 things to watch on the ASX 200 on Monday

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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No doubt investors would be painfully used to the AMP Ltd (ASX: AMP) share price falling. Over the last decade or two, AMP has seen one of the most dramatic falls from grace in the history of the ASX. The once-venerated institution has gone from a respected ASX 200 blue chip share worth over $13 in 2001 to today’s price of around $1 a share.

Yes, today AMP shares are being priced at $1.14 each. That’s up a healthy 1.79% for the day today. But even so, it still leaves AMP with a one-month loss of more than 5%.

AMP’s woes have stemmed from many years of struggles following the reputation-shattering 2018 banking royal commission. It has already sold its flagship life insurance arm, and more recently offloaded parts of its Collimate Capital division (formerly known as AMP Capital).

But could these share price levels finally represent a buying opportunity for the AMP share price? After all, surely there has to be a pricing point for the company… One that perhaps represents good value after the five-year fall of 77% that is now behind us?

Is the AMP share price in the buy zone today?

Well, one expert investor who thinks AMP is a bargain right now is Geoff Wilson, the founder and chairman of Wilson Asset Management (WAM). He is the fund manager of popular ASX listed investment companies (LICs) like WAM Captial Ltd (ASX: WAM).

According to a recent report in the Australian Financial Review (AFR), Wilson reportedly picked AMP as a buy during a recent investment roadshow. He pointed out that AMP has net tangible assets worth $1.35 per share. In addition, he noted that AMP is “tipped to return somewhere between 50¢ and 60¢ when it completes the sale of its funds management business”.

“So you’re buying at a 20 per cent discount now, and when they pay back half the money it’s what, a 30-plus per cent discount,” Wilson stated.

So that’s a pretty emphatic endorsement. But only time will tell if his bullish projections turn out to be accurate. No doubt AMP investors will have their fingers crossed that they are.

At the current AMP share price, this ASX 200 share has a market capitalisation of $3.75 billion.

The post Down 5% in a month, is the AMP share price a buying opportunity? appeared first on The Motley Fool Australia.

More reading

• This is when the pain will end: expert
• Why these 2 ASX 200 shares are undervalued opportunities: WAM
• ‘The stock can double’: Expert names 2 ASX shares market hasn’t woken up to
• Can the AMP dividend yield really push to 15%?
• The board has acknowledged a ‘disappointing experience’ in relation to the AMP share price. What now?

Motley Fool contributor Sebastian Bowen 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 so far has been rough for many ASX investors. But the market’s struggles has also brought some quality ASX All Ordinaries Index (ASX: XAO) shares to their lowest price in years. Talk about a bargain!

Let’s take a look at these three quality stocks reaching 52-week lows on Monday.

3 quality ASX All Ordinaries shares trading at 12-month lows

Bigtincan Holdings Ltd (ASX: BTH)

The first quality ASX All Ordinaries share trading at a new 52-week low on Monday is Bigtincan.

The company’s stock reached a low of 47 cents this morning, representing a 4.08% tumble and the lowest it’s been in more than two years.

Bintincan provides software to sales and service providers that helps increase sales and customer satisfaction.

The company has been struggling in 2022 despite releasing plenty of good news.

The most recent update from the company detailed a new partnership and cash flow breakeven target, as well as reaffirming its financial year 2022 guidance.

However, Bigtincan’s stock might be being weighed down by the broader technology sector.

The S&P/ASX All Technology Index(ASX: XTX) has tumbled nearly 33% year to date amid rising inflation and interest rate hikes.

Dubber Corp Ltd (ASX: DUB)

Dubber is another embattled – but still high quality – All Ordinaries tech share trading at a new 52-week low today.

The cloud-based call recording and voice artificial intelligence provider’s stock slumped to 70 cents at its lowest point today. That’s down nearly 8% from Friday’s close and the lowest it’s been since the onset of the COVID-19 pandemic.

The latest quarterly report out of the company showed rising revenue, subscribers, and annual reoccurring revenue.

Frontier Digital Ventures Ltd (ASX: FDV)

The final quality ASX All Ordinaries share to reach a new 52-week low is Frontier Digital Ventures.

The stock hit a low of 83 cents on Monday – the lowest it’s been in nearly two years and around 5.7% lower than its previous close.

Frontier Digital Ventures operates online marketplace businesses in emerging markets.

The last time the market heard from the company was in late April. Then, it released its activities report for the March quarter, detailing record quarterly and monthly revenue and positive earnings for the period.

The post 3 quality ASX All Ordinaries shares trading at 52-week lows today appeared first on The Motley Fool Australia.

More reading

• Why did the Dubber share price push 18% higher today?
• A top fund manager has been buying these ASX tech shares after the market selloff
• 3 ASX tech shares we’re sticking with: Forager
• Here’s why the Bigtincan share price is jumping 10% today
• Are these small 2 ASX growth shares now at compelling value?

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 BIGTINCAN FPO, Dubber Corporation, and Frontier Digital Ventures Ltd. The Motley Fool Australia has positions in and has recommended BIGTINCAN FPO and Dubber Corporation. The Motley Fool Australia has recommended Frontier Digital Ventures Ltd. 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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ASX 200 energy shares are back in the foyer today as traders push the sector more than 35% higher on the year to date.

The S&P/ASX 200 Energy Index (ASX: XEJ) has jumped around 180 basis points on Monday after spiking to that level straight past the open.

Oil is trading around its highest mark in three months. Brent crude oil, on which more than 90% of the world’s oil is priced, has pushed to US$120 per barrel.

The move “comes as the world’s biggest exporter, that is Saudi Arabia, is saying that it’s raising prices for its Asian customers – that’s their biggest markets – and it’s also being raised more than expected,” per reporting from Bloomberg.

“We’re seeing the hike coming as we’re seeing a big rebound in Asia… as regions from Singapore to China lift many of their COVID-19 restrictions.”

The push seems to have helped ASX 200 energy shares. These three shares have nudged past 52-week highs, alongside the price of oil, as seen below.

Santos Ltd (ASX: STO)

Santos shares cruised to an early high of $8.58 per share before levelling off to secure a 1.9% gain at the time of writing.

The hydrocarbons giant has seen its share price snake higher these past six months in an upward channel. It has now surged to its yearly highs after a recent breakout.

Aside from oil, natural gas prices are surging back towards previous highs after setting two new 52-week highs in the past few months.

With this momentum in its underlying spot markets, it stands to reason investors are buying into that strength with the Santos share price as well.

This year to date, Santos shareholders have clipped an 11% gain.

Whitehaven Coal Ltd (ASX: WHC)

Whitehaven has nudged around 160 basis points higher after trading as high as $5.54 earlier in the day.

After plateauing at three-month highs in May, shares have broken out of a sideways channel to set another 52-week high.

Alongside its liquid counterpart, the price of coal is also trading up around its yearly highs after going vertical in May. Prices have originally spiked more than 76.8% to new heights in March before consolidating back to the longer-term trend.

However, prices again thrust higher in May and poked yearly highs of US$427 per tonne. Coal now trades at US$412.50 per tonne, up from US$318/tonne in May.

Again with that kind of momentum investors appear to be buying into the surging price of coal with Whitehaven shares.

Beach Energy Ltd (ASX: BPT)

Shares of Beach Energy nudged to 52-week highs early in the session on Monday and now trade at $1.86 apiece.

After flatlining from March to May, the stock rallied to new highs in unison with the oil price as investors continue backing the oil and gas trade.

Adjoining the basket of oil and gas companies clipping early gains on Monday, Beach shares have already surpassed one third of their four-week average volume at more than 5.24 million shares in trading.

It recently affirmed production guidance as well. With the current rise in oil, this guidance clarity validates the predictability of Beach’s future cash flows, numbers analysts use in calculating various estimates.

Hence, the share price is heading towards a consensus price target of $1.91 per share, according to Bloomberg data. We’ll see if it has the legs to lunge past that mark.

Beach investors have also enjoyed a 36% gain over the past 12 months of trade, with shares trading in line with January 2021 highs.

The post 3 ASX 200 energy shares cracking new 52-week highs on Monday appeared first on The Motley Fool Australia.

More reading

• What’s on the cards for the Beach Energy share price in June?
• Why is the Santos share price off to a cracking start to the week?
• Woodside shares or Whitehaven? What’s the best ASX 200 value play?
• 5 things to watch on the ASX 200 on Monday
• These were the best performing ASX 200 shares last week

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.

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The Tesla Inc (NASDAQ: TSLA) share price has had a tough time in US markets lately.

The global giant’s shares plummeted 9% to $703.55 on the NASDAQ on Friday. In after hours trade, the company’s share price fell a further 0.46%.

So what caused the Tesla share price to sink so rapidly?

Elon Musk’s ‘super bad’ feeling about the economy

Tesla is a world-leading Electric Vehicle (EV) maker headquartered in the US state of Texas.

The company’s high-profile CEO Elon Musk unveiled plans to cut 10% of Tesla’s staff on Friday, Reuters reported.

In an email seen by the publication, Musk revealed he had a “super bad feeling” about the economy and needed to cut staff. Musk reportedly said:

Tesla will be reducing salaried headcount by 10% as we have become overstaffed in many areas. Note this does not apply to anyone actually building cars, battery packs or installing solar. Hourly headcount will increase.

However, in a Tweet after the US market had closed on Saturday, Musk backpedalled on plans to cut staff, saying: “Total headcount will increase, but salaried should be fairly flat.”

Total headcount will increase, but salaried should be fairly flat

— Elon Musk (@elonmusk) June 4, 2022

https://platform.twitter.com/widgets.js

The news comes after Tesla last week ordered staff to return to work in the office or leave the company. Musk said, “If you don’t show up, we will assume you have resigned.”

Telsa had close to 100,000 employees at the end of 2021.

However, Tesla was not the only share to fall on the NASDAQ on Friday. The Nasdaq-100 Index slipped 2.67% on Friday, with Apple Inc (NASDAQ: AAPLE) dropping 3.86% and Microsoft Corporation (NASDAQ: MSFT) slipping 1.66%.

Tesla share price snapshot

The Tesla share price has climbed 16% over the past 12 months but has fallen a substantial 41% year to date.

For perspective, the NASDAQ 100 Index has shed 9% in a year, dropping 24% year to date.

The post Why did the Tesla share price just dump 9%? appeared first on The Motley Fool Australia.

More reading

• Why Tesla stock did a U-turn today
• The Tesla share price has rallied 18% in less than a fortnight. What’s going on?
• Why Tesla stock is still falling today
• Why the Tesla share price stalled on Tuesday
• If you’d bought $5,000 of Tesla shares 5 years ago, woohoo! Here’s how much you’d have now

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Tesla. 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 PointsBet Holdings Ltd (ASX: PBH) share price is under pressure again on Monday.

In afternoon trade, the sports betting company’s shares are down over 3% to $2.64.

This means the PointsBet share price is now down by 63% since the start of the year.

Is the PointsBet share price going to rebound?

The good news for shareholders is that a couple of leading brokers believe the PointsBet share price has the potential to rebound materially. In fact, both brokers are tipping the company’s shares to more than double over the next 12 months.

According to a recent note out of Bell Potter, its analysts have speculative buy rating and $6.00 price target on the company’s shares.

Its investment thesis is based largely on its proven ability in Australia and large market opportunity in North America. In respect to the latter, the broker commented:

PointsBet is pursuing a very large opportunity in the sports betting market in North America. The market is still very much in its infancy as, until recently, sports betting was prohibited in the US and Canada and states/provinces across both countries are only now – or recently – introducing legislation which allows a limited number of licensed operators to provide sports betting.

PointsBet is aiming to be one of the leading providers (i.e. top 5) of online sports wagering in at least 17 states across the US and one province in Canada over the next two years. The size of sports wagering market in the US alone is estimated to be b/w US$8-10bn in 2025.

Who else is bullish?

Another broker that is bullish on the PointsBet share price is Goldman Sachs. It recently retained its buy rating with a $5.78 price target.

Its analysts acknowledge that sentiment in the tech sector for loss-making shares is challenging, it believes investors should stick with the company. Particularly given its positive long term outlook and large addressable market. Goldman said:

We reiterate Buy on PBH, given i) leverage to burgeoning US OSB+iGaming TAM, ii) we see it as well positioned to carve out niche share of the North American market, iii) upside risk to LR sustainable margins and scalability benefits ahead, iv) market over-extrapolating recent promotional intensity which has already eased, and v) valuation support given significant upside still to our revised multiples.

The post Why these top brokers say the beaten-up PointsBet share price has 100% upside appeared first on The Motley Fool Australia.

More reading

• Investors are betting on the Pointsbet share price today, it’s up 5%
• Why Allkem, Origin, PointsBet, and Zip shares are sinking today
• These were the best performing ASX 200 shares last week
• Why Infomedia, Pilbara Minerals, PointsBet, and Talga shares are racing higher
• ASX 200 midday update: Appen crashes, lithum shares jump

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 positions in and has recommended Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Dividend stocks offer one of the most convenient ways to earn extra income while you sleep. All you have to do is select the dividend-paying stocks you want in your portfolio and watch those dividend deposits flow into your account. The best part is that you may qualify for an automatic dividend income increase without doing anything extra on your end. 

Below, we’ll dive into a tried-and-true strategy to help you ramp up your dividend income for years to come. 

Start earning dividend income 

If you’re ready to jump-start your dividend journey, you’ll need to invest in companies that reward shareholders with dividends. Not every company does this, so you’ll have to do some quick research to make sure some of the companies on your watch list are dividend payers.  

Here’s how it works. When a company earns money, it can do two things: 

• Reinvest the money back into the company 
• Reward shareholders with extra income 

Some companies will do a bit of both. Take Microsoft (NASDAQ: MSFT), for instance. This trillion-dollar tech powerhouse continues to invest in its cloud business, while paying an annual dividend of $2.48 per share (as of June 2022) to shareholders. But if you want to earn your first $1,000 in dividends from Microsoft, you’ll need roughly 404 shares of stock. At Microsoft’s current share price, you’ll need to dole out six figures to make that happen.

That’s why you want to identify your goals and risk tolerance, and then research companies that align with that. If your goal is to invest in companies that raise their annual dividends every year, and you want to diversify your portfolio with companies beyond tech, you’ll want to direct your attention to a special breed of stocks. We’ll discuss that next.   

Unlocking dividend growth opportunities 

Some companies stick to the same annual dividend payment every year. Other companies have a track record of consistently increasing their dividends. These companies may be part of the Dividend Aristocrats or Dividend Kings club if they’ve been in the game for some time. 

Dividend Aristocrats have proved their commitment to shareholders by delivering dividend increases every year for at least 25 consecutive years. Here are some examples of companies that have made it on the list: 

• Chevron
• Cardinal Health
• Caterpillar 

Then there’s an elite group of dividend payers on the list that have paid and increased their base dividend for at least 50 consecutive years. Here’s a preview of the Dividend Kings: 

• Procter & Gamble
• Colgate-Palmolive
• Johnson & Johnson

Growing your income while you sleep 

Let’s say you invested in a company that has been crowned a Dividend Aristocrat. The company paid an annual dividend of $3.48 per share last year and plans to boost the amount to $3.65 per share this year. That may not seem like a big deal, but it all adds up.

If you have 1,000 shares of the company stock, you would have earned $3,480 last year. The dividend boost this year will bring you to $3,650. That means you earned an extra $170 without moving a muscle.

Imagine getting a dividend bump every year over the next 20 or 30 years. If the company continues to increase the annual dividend, your income will automatically increase, as long as you hang on to the stock.

Investing in dividend growth stocks can set you up for automatic pay raises for the rest of your life. Although past performance does not always guarantee future success, these companies have a proven track record that can help you get started on your journey.

Diversify your portfolio with dividend growth stocks 

Setting up a dividend income growth strategy doesn’t mean you should abandon other types of stocks and investments. Dividends can fit into a well-diversified portfolio of assets that align with your goals and risk tolerance.

Start creating your watch list, do your research, and look out for companies that are growing their dividends. Those small dividend increases every year can lead to thousands of extra dollars over the long term. The best part is that you won’t have to lift a finger to earn your rewards.   

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post How to increase your dividend income without lifting a finger appeared first on The Motley Fool Australia.

More reading

• 2 top metaverse stocks I think are ready for a bull run
• Will Microsoft and Apple shares finally give way in the stock market’s downturn?

Charlene Rhinehart, CPA has positions in Caterpillar and Microsoft. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Microsoft. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Johnson & Johnson. 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.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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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:

Bapcor Ltd (ASX: BAP)

According to a note out of Citi, its analysts have retained their buy rating and $8.03 price target on this auto parts retailer’s shares. The broker believes that strong demand for used cars should be a boost to Bapcor. Especially given that its offering is less discretionary than many of its peers. In light of this, the broker sees potential for Bapcor to outperform expectation in FY 2023. The Bapcor share price is trading at $6.17 today.

Healius Ltd (ASX: HLS)

Another note out of Citi reveals that its analysts have upgraded this healthcare company’s shares to a buy rating but trimmed their price target on them to $4.30. While the broker acknowledges that COVID testing volumes are softening and its FY 2023 earnings are likely to fall materially year on year, it still believes recent share price weakness has created a buying opportunity for investors. Citi estimates that Healius’ shares are trading at 17x FY 2024 earnings. The broker expects this to be the first year of normal post-COVID earnings. The Healius share price is fetching $3.77 today.

REA Group Limited (ASX: REA)

Analysts at Goldman Sachs have retained their buy rating and lifted their price target on this property listing company’s shares to $167.00. This follows REA’s investor update which revealed that management is aiming to deliver double digit revenue and EBITDA growth through the cycle. This is expected to be underpinned by 10%+ yield growth. Goldman was pleased with the update and has upgraded its earnings to reflect its stronger yield outlook. The REA share price is trading at $110.88 this afternoon.

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

More reading

• 3 ASX shares to buy now (and one bonus): fund manager
• These were the worst performing ASX 200 shares last week
• Brokers name 3 ASX shares to buy today
• Why Ansell, Domino’s, Firefinch, and Healius shares are dropping
• Why Altium, Fortescue, PeopleIn, and REA shares are storming higher

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 recommended Bapcor and REA Group Limited. 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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Shares of Beach Energy Ltd (ASX: BPT) traced higher in May, clipping a 7% gain while the benchmark S&P/ASX 200 Index (ASX: XJO) fell 2.7%.

Beach Energy shares have been trading higher since December 2021, extending the upside after a recent breakout in May, as seen on the chart below.

After trading below the established support level, the Beach Energy share price stretched from a low of $1.58 in May to now trade at $1.85 apiece at the time of writing.

Can the Beach Energy share price extend gains in June?

Analysts at JP Morgan vote yes to that effect and in April valued Beach Energy at $1.90 per share. The broker was constructive on Beach, and now “sit[s] well above consensus” regarding the company’s forward earnings estimates.

“We think Beach provides good exposure to a diversified suite of assets in Australia,” the broker said.

“Net debt is close to zero and therefore Beach has the strongest balance sheet of the large caps under our coverage.”

JP Morgan said the boost from its most recent earnings was one tailwind Beach was set to realise this year.

Buoyant oil prices have propped up the company’s revenue, driving a revenue result 16% higher than its estimates.

Brent Crude oil has surged north since May and is now lifting back towards previous highs at US$120 per barrel. Its correlation with the Beach Energy share price is seen above.

Beach management said production guidance of 21–23 million barrels of oil equivalent (Mmboe) was on track for FY22.

The broker reckons this run rate coupled with rising oil prices is sure to result in earnings growth:

Incorporating the quarterly result into our modelling, results in an 11% upgrade to our full year NPAT [net profit after tax] estimate to A$527 million. We are now 9% above consensus for FY2022.

Wider analyst sentiment is largely bullish for Beach, with 76.5% of analysts covering the stock rating it a buy, according to Bloomberg data.

However, 18% of broker coverage rates it a sell or to underperform. In contrast, the consensus price target reaches $1.91 per share from this list.

In the last 12 months, the Beach Energy share price has surged 37%, having secured a 48% gain this year to date.

The post What’s on the cards for the Beach Energy share price in June? appeared first on The Motley Fool Australia.

More reading

• Why is the Santos share price off to a cracking start to the week?
• These were the best performing ASX 200 shares last week
• 3 ASX 200 energy shares smashing multi-year highs on Friday
• 5 things to watch on the ASX 200 on Friday
• 3 ASX energy shares rocking new 52-week highs on Thursday

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.

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It’s been a pretty dreary start to the trading week for the S&P/ASX 200 Index (ASX: XJO) so far this Monday. At the time of writing, the ASX 200 is down by 0.42% at close to 7,200 points. But it’s been an even worse start for the Novonix Ltd (ASX: NVX) share price.

Novonix shares are presently down a nasty 3.84%, going for $3.51 apiece so far today. That’s certainly a lot closer to this battery and graphite company’s 52-week low of $2.07 than its 52-week high of $12.47.

Novonix investors have been on a wild ride over the past year or two. Between July and December 2021, Novonix shares rose more than 400%, driven by investor excitement over the company’s future-facing plans. But the company has comprehensively fallen back to earth over 2022 thus far. It’s now down by more than 66% year to date, as well as by more than 70% from its December highs.

So have investors at least been comforted by some dividend payments from Novonix? After all, dividends can be very welcome for investors watching the value of a company fall. It can cushion some of the pain, or else enable an investor to buy even more shares for a discount.

Is Novonix an ASX dividend share?

So, is Novonix a dividend-paying ASX share? Well, the answer is a definitive no.

Novonix does not currently pay a dividend. In fact, it never has.

Novonix is arguably not in a position to pay dividends, even if it wanted to. Back in February, Novonix delivered its half-year earnings report. This informed investors that for the six months ending 31 December 2021, the company reported a statutory after-tax loss of $28.8 million. That was a lot more than the loss of $10.77 million in H1 FY20.

For a company to be able to responsibly and sustainably fund dividend payments, it must first be comfortably profitable. Judging by those numbers, that is not a label we can put on Novonix just yet. So investors probably shouldn’t expect big things when it comes to dividends from the company for the foreseeable future.

The post Do Novonix shares pay dividends? appeared first on The Motley Fool Australia.

More reading

• What to expect from the RBA interest rate decision this week
• ASX 200 midday update: Magellan smashed, Liontown signs Tesla deal
• Could the Core Lithium share price be set to take off again in June?
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Motley Fool contributor Sebastian Bowen 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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