Category: Stock Market

Today has seen the S&P/ASX 200 Index (ASX: XJO) looking to finish the trading week on a positive note. The ASX 200 is currently up by 0.46% to 7,463 points.

Let’s take a look at the ASX 200 shares that are topping the trading volume charts today, according to investing.com.

3 most active ASX 200 shares by volume on Friday

Telstra Corporation Ltd (ASX: TLS)

ASX 200 telco Telstra is our first ASX share to check out today. This ASX blue-chip has seen a sizeable 11 million shares finding new owners so far this Friday.

With no major news out of the telco today, we can assume this elevated trading volume is on the back of healthy share price growth today. Telstra is currently up a robust 1.15% at $3.98 a share. This is getting pretty close to its 52-week high of $4.05. Telstra has also been buying back its own shares recently, so this could be a contributing factor as well.

Virgin Money UK (ASX: VUK)

ASX-listed but British-based bank Virgin Money UK is our next cab off the rank. Virgin Money has seen a hefty 11.47 million shares change hands so far today. This volume can likely be put down to the trading update Virgin Money released to investors yesterday evening.

Despite some improvements across the board with its metrics, investors were clearly wanting more given the Virgin Money share price is down a nasty 11.4% today to $3.14 a share. This steep share price fall is almost certainly behind the elevated trading volumes we are seeing this Friday.

Alumina Limited (ASX: AWC)

Aluminium processor Alumina is our final and most traded ASX 200 share this Friday. An impressive 13.3 million shares have been bought and sold so far today. There are no announcements out of Alumina today.

This ASX 200 company has had a rough couple of weeks. Its shares were downgraded by a major broker and its chief financial officer resigned. Together with today’s nasty 2.75% drop to $1.87 a share so far, we have the probable reasons for its high trading volume today.

The post Here are the 3 most heavily traded ASX 200 shares this Friday appeared first on The Motley Fool Australia.

More reading

• Why is the Virgin Money UK (ASX:VUK) share price down 11% today?
• Why Afterpay, Clinuvel, Inghams, and Virgin Money UK shares are tumbling
• Which tech shares are dragging down the ASX 200 on Friday?
• ASX 200 (ASX:XJO) midday update: REA and News Corp impress, Link receives takeover offer
• Expert highlights big threat to the Zip (ASX:Z1P) share price

Motley Fool contributor Sebastian Bowen owns shares of Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The News Corp (ASX: NWS) share price is having a moment in the sun today. This follows the media giant’s announcement of its first-quarter results for FY22.

At the time of writing, shares in the company are gliding 8.9% above their previous close at $34.52. With today’s strong price appreciation, News Corp shares are now only 2% away from setting a new 52-week high.

What’s moving the News Corp share price today?

Investors are sending the News Corp share price skywards to finish the week. Given the company released its first-quarter results prior to the market opening today, it is likely that the market is fixated on details within this announcement.

As we covered earlier, the large media outlet handed down a solid quarter performance. Not only did revenue grow by 18% year on year to $2.5 billion, but earnings also increased by more than a factor of five.

The uptick in operations wasn’t reduced to only one segment either. All five News Corp’s business segments reported revenue growth. Most noticeably, digital real estate services posted a massive 47% leap in revenue compared to the prior year.

However, the biggest contributor in terms of growth to the company’s earnings before interest, tax, depreciation, and amortisation (EBITDA) was the subscription video services segment. According to the release, EBITDA for this segment increased 46% to $114 million.

The subscription video services part of News Corp incorporates streaming services such as Foxtel, Kayo, and BINGE. At the end of the quarter, Foxtel subscribers had reached 3.9 million, increasing 17% year on year. The improved earnings margin was the product of lower sports programming rights and production costs.

Making sense of the valuation

After the improvement in News Corp quarterly numbers, analysts are likely running the numbers again to check against their price targets.

If we summarise the net income of Q2, Q3, and Q4 of FY21 with our latest Q1 FY22 results, we can get an indication of the company’s trailing 12-month earnings. With some quick back-of-the-napkin math, this works out to be ~$427 million.

Based on the current News Corp share price and our calculated 12-month trailing earnings, News Corp is currently trading on an approximate price-to-earnings (P/E) ratio of 44 times.

The post News Corp (ASX:NWS) share price rallies 8% on market-moving quarterly appeared first on The Motley Fool Australia.

More reading

• Why Jumbo, Link, News Corp, and REA shares are storming higher
• ASX 200 (ASX:XJO) midday update: REA and News Corp impress, Link receives takeover offer
• News Corp (ASX:NWS) share price in focus as first quarter delivers growth
• 5 things to watch on the ASX 200 on Wednesday

Motley Fool contributor Mitchell Lawler 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 Bruce Jackson.

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Shares in Domino’s Pizza Enterprises Ltd (ASX: DMP) took a beating yesterday and closed the session 18% lower at $116.20.

That’s a $26 per share loss for the pizza giant in a single day, as investors responded to its annual general meeting (AGM) update.

Today, the Domino’s share price has lost a little more ground and is down 0.37% to $115.69 in afternoon trading.

The team at investment bank Goldman Sachs retains its buy rating on Domino’s shares. However, fellow brokers aren’t so rosy on the outlook for Domino’s. So, they’ve trimmed their price targets in response to the announcement.

Here are the details.

What led us to this point?

Before we analyse what the experts are saying, let’s review what led to the Domino’s share price taking such a hit.

Investors appear to be spooked by the company’s performance in Japan, which was surprisingly weak for the period.

Domino’s has an aggressive ‘rapid store rollout’ strategy in the region. It has grown its store base to 742 restaurants in 2020 from just 200 a decade ago.

Even though the Japanese government has rolled back COVID-19 restrictions, Domino’s recognised negative growth in FY21.

As a result, Domino’s management was unable to give guidance for FY22 at the AGM. Not even to confirm or deny whether earnings would come in behind or in front of FY21.

This bodes poorly for the Domino’s share price. As pointed out by investing hall-of-famers Warren Buffet and Peter Lynch in their writings, the market prices shares based on past earnings and future earnings expectations.

The absence of a robust outlook in Japan appears to have disappointed investors. It has left many of their questions on expectations unanswered, and this is reflected in yesterday’s share price losses.

What are brokers saying in response?

Leading brokers Citi, Morgans, Jarden, and Bell Potter have slashed their price targets for the Domino’s share price.

Citi lowered its price target by almost $4 per share to $144.25. It also trimmed its forecast for earnings per share (EPS) by 8% and Japan store sales by 1%.

The weak performance surprised the Citi team. It said it is “flagging risk to FY22 sales given the current negative momentum comes ahead of the material Christmas trading period”.

Analysts at Bell Potter also gave their price target a buzz-cut, wiping 16% off their valuation to $130 per share.

Jarden Securities also reduced its price target by 6% to $113, implying 2.3% downside potential on today’s share price.

Fellow broker Morgans doesn’t interpret the Japan slowdown as a signal that Domino’s is failing there. The broker notes: ” … nor does it suggest the strategy of rapid store roll out and ‘fortressing’ has lost any of its validity”.

Morgans hasn’t budged on its ‘hold’ recommendation but has slashed its Domino’s share price target by 7.5% to $135.

Goldman Sachs retained its ‘buy’ rating but also trimmed its Domino’s share price target by more than 5% to $147.

Domino’s share price snapshot

Over the past year, the Domino’s share price has risen by 37% compared to the S&P/ASX200 index gain of 21.5%.

The post Targets slashed: Why these top brokers aren’t so rosy on the Domino’s (ASX:DMP) share price appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to sell today
• Top broker says Domino’s (ASX:DMP) share price is cheap after selloff
• Why Domino’s, Inghams, Kogan, and Paradigm shares are sinking
• ASX 200 (ASX:XJO) midday update: Zip’s record month, Domino’s crashes
• Why the Domino’s (ASX:DMP) share price is crashing 19% today

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) is well on the way to ending the week on a strong note. The ASX 200 is presently up a healthy 0.54% to 7,467 points. But one ASX 200 share isn’t joining the party this Friday. That would be the Virgin Money UK (ASX: VUK) share price.

Virgin Money UK shares are, at the time of writing, down a nasty 11.27% to $3.15 a share. That puts this quasi-ASX bank at an 8-month share price low, seeing as the company was last at these levels way back in February.

So what’s gone so wrong for Virgin Money today?

Virgin Money UK share price slumps on FY21 update

Well, this steep share price drop seems to be the result of a trading update the bank released yesterday evening after the market closed.

This update provided some guidance on what Virgin Money expects the company to deliver for its FY21 earnings results.

Virgin Money told investors that its statutory profit before tax is expected to be 417 million British pounds. Underlying profits before tax are expected to grow to 801 million pounds, up 546% from the 124 million pounds of the previous period. the company says this improvement is due to “strong financial momentum and improved macro outlook”.

Meanwhile, the bank’s income grew by 2% to 1.57 billion pounds, mainly helped by higher net interest income.

Virgin Money UK also announced a 1 pence per share dividend (final amount to be determined for the ASX shares) for investors, subject to the finalisation of FY21’s results, as well as shareholder approval.

Here’s some of what management had to say of these numbers:

Our strategy has continued to deliver improved financial momentum throughout the year, with support from an improved economic backdrop. Underlying profit is expected to be stronger at [801 million pounds, against 2020’s 124 million pounds] and the Group expects to return to statutory profit in FY21, delivering [417 million pounds] of PBT [profits before tax].

So why are Virgin Money UK shares falling so much today? Perhaps the most likely explanation is that investors were expecting more. Especially seeing that the United Kingdom relaxed most of their COVID-related restrictions back in June.

At the current Virgin Money UK share price, this bank has a market capitalisation of $5.11 billion.

The post Why is the Virgin Money UK (ASX:VUK) share price down 11% today? appeared first on The Motley Fool Australia.

More reading

• Why Afterpay, Clinuvel, Inghams, and Virgin Money UK shares are tumbling
• Which tech shares are dragging down the ASX 200 on Friday?
• ASX 200 (ASX:XJO) midday update: REA and News Corp impress, Link receives takeover offer
• Expert highlights big threat to the Zip (ASX:Z1P) share price
• Get ready for a 10% share market correction: expert

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 Bruce Jackson.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a solid gain. At the time of writing, the benchmark index is up 0.6% to 7,471.6 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are tumbling:

Afterpay Ltd (ASX: APT)

The Afterpay share price is down 4.5% to $118.71. Investors have been selling this payments company’s shares following a pullback in the Square share price overnight. The US payments giant’s shares were sold off after its third quarter result fell short of expectations. As Square is acquiring Afterpay in an all-scrip deal, the value of the takeover rises and falls with its share price.

Clinuvel Pharmaceuticals Limited (ASX: CUV)

The Clinuvel share price is tumbling 10.5% to $36.36. This decline appears to have been driven by the release of a broker note out of Jefferies this morning. According to the note, following some strong gains in recent months, the broker has downgraded this biopharmaceutical company’s shares to a hold rating from buy. The Clinuvel share price is still up over 50% in 2021.

Inghams Group Ltd (ASX: ING)

The Inghams share price is down a further 3.5% to $3.47. Investors have been selling this poultry producer’s shares since the release of its annual general meeting update on Thursday. That update revealed that Inghams’ performance is being impacted by sustained input cost pressures. In response, this morning Macquarie retained its neutral rating but cut its price target down to $3.70.

Virgin Money UK (ASX: VUK)

The Virgin Money share price has sunk 11.5% to $3.14. This UK based bank’s shares are being sold off today following the release of its full year update. Virgin Money advised that it expects to record an underlying profit before tax of 801 million pounds. This will be up 546% from the 124 million pounds recorded a year earlier. However, taking the shine off this was management revealing that it will incur 275 million pounds in restructuring costs over the next three years. This was approximately double what the market was expecting.

The post Why Afterpay, Clinuvel, Inghams, and Virgin Money UK shares are tumbling appeared first on The Motley Fool Australia.

More reading

• Why is the Virgin Money UK (ASX:VUK) share price down 11% today?
• Which tech shares are dragging down the ASX 200 on Friday?
• ASX 200 (ASX:XJO) midday update: REA and News Corp impress, Link receives takeover offer
• Expert highlights big threat to the Zip (ASX:Z1P) share price
• Own ASX BNPL shares? These were the best performers during October

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Pure Hydrogen Corporation CDI (ASX: PH2) share price is surging today following an update on its H2X Global transaction.

During mid-afternoon trade, the energy company’s shares are up 8.60% to a multi-year high of 50.5 cents.

What did Pure Hydrogen announce?

Investors are pushing Pure Hydrogen shares higher on news of the company’s positive release.

In a statement to the ASX, Pure Hydrogen advised that it has completed the transaction of H2X. This means that the company now holds a 24% interest in H2X Global with options to increase its ownership to 48%.

H2X is a hydrogen-powered vehicle manufacturer that is currently building Australia’s first hydrogen fuel cell cars. The company aims to market everything from all-electric utes, SUVs, vans and minibuses.

In addition to the update, H2X signed a memorandum of understanding (MoU) with the Economic Development Corporation (SEDC). The latter is an arm of the State Government of Sarawak, Malaysia.

Under the framework, H2X will establish a joint venture with SEDC Energy to produce long haul vehicles. However, in the near-term it will begin with assembly of utes to city buses, and also H2X hydrogen powered generators.

This follows the decision by the Sarawak government which first introduced hydrogen powered vehicles in 2019. The agreement could further lead to H2X supplying and assembling more vehicles including buses to meet the growing demand.

H2X CEO, Brendan Norman commented:

Sarawak was already well ahead of most States in the region and was well advanced establishing long term hydrogen production for both domestic and export markets.

We are been honoured to be selected to work with SEDC. It is likely that Sarawak will not only produce vehicles for its own use but will become a major supplier to other States in Malaysia and countries in the region.

Pure Hydrogen share price summary

Since the beginning of 2021, Pure Hydrogen shares have taken off, accelerating by more than 470%. When zooming out to the last 12 months, its shares have further accelerated to a gain of 515%.

Pure Hydrogen presides a market capitalisation of around $158.5 million, with more than 313.8 million shares on hand.

The post Why the Pure Hydrogen (ASX:PH2) share price is leaping to a multi-year high today appeared first on The Motley Fool Australia.

More reading

• Pure Hydrogen (ASX:PH2) share price jumps 5% on hydrogen vehicle plans
• Why are ASX hydrogen shares in the spotlight on Monday?

Motley Fool contributor Aaron Teboneras 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 Bruce Jackson.

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Both domestic and international travel is back on the cards for millions of Australians. So why is the Webjet Limited (ASX: WEB) share price struggling compared to that of its business-focused peer, Corporate Travel Management Ltd (ASX: CTD)?

Despite plenty of positive news regarding the Australian travel sector, the Webjet share price has fallen 4.3% over the past month. Shares in the online travel agent are currently trading for $6.33 apiece.

That’s a notably worse performance than that of the Corporate Travel share price. It has gained 0.5% in the same time frame to reach $24.60.

Though, both are underperforming against the broader market. The S&P/ASX 200 Index (ASX: XJO) has gained 3% over the last month.

Australia’s return to travel

On Monday, international borders reopened in Victoria and New South Wales after both states agreed to scrap quarantine for fully vaccinated arrivals. Additionally, residents eager to head overseas once more have been given the green light to do so.

And in more good news for wandering Aussies, travel between Victoria, New South Wales, and the ACT resumed today.

Though, the news hasn’t been enough to boost the Webjet share price back into the green.

What’s weighing on the Webjet share price?

There’s no news on which to pin the recent poor performance of the Webjet share price compared to that of Corporate Travel.

It could be due to the market believing business travel will restart quicker than leisure travel. Though, that doesn’t take into account the online travel agent’s business-to-business branch, WebBeds, which services the travel industry.

Additionally, Webjet has previously predicted it will be turning a profit at the same time as Corporate Travel.

At Webjet’s annual general meeting, the company’s managing director said the business is expected to be cash-flow positive in the first half of financial year 2022.

Whereas, Corporate Travel recently predicted it will return to profitability in the final quarter of the 2021 calendar year.

Unfortunately, there’s no clear answer as to why the Webjet share price is underperforming that of Corporate Travel.

But, at least Webjet’s stock isn’t alone in its struggles. Plenty of ASX travel shares are battling to get back into the green.

The Qantas Airways Limited (ASX: QAN) share price has fallen 2.1% over the last month, while that of Flight Centre Travel Group Ltd (ASX:  FLT) has slumped 17.6%.

The post Why is the Webjet (ASX:WEB) share price underperforming Corporate Travel lately? appeared first on The Motley Fool Australia.

More reading

• These are the 10 most shorted ASX shares
• Why has October been such a lousy month for the Webjet (ASX:WEB) share price?
• Brokers name 3 ASX shares to buy today
• Corporate Travel (ASX:CTD) share price gains as dividends flagged to return
• When was the worst ever day on the Webjet (ASX:WEB) share price chart?

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 owns shares of and has recommended Corporate Travel Management Limited and Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

AVITA Medical Inc (ASX: AVH)

According to a note out of Bell Potter, its analysts have retained their buy rating and $9.80 price target on this regenerative medicine company’s shares. This follows news that the US Centre for Medicare has approved a new reimbursement code that will provide separate payment for AVITA’s Recell devices used in the outpatient setting. Bell Potter feels this represents an important breakthrough for the company and further validation of the clinical benefit of the Recell technology. It notes that this new code is only granted to devices that offer substantial clinical improvement over the standard of care. The AVITA share price is trading at $5.12 today.

Hipages Group Holdings Ltd (ASX: HPG)

A note out of Goldman Sachs reveals that its analysts have retained their buy rating and lifted their price target on this tradie platform provider’s shares to $4.90. This follows news that the company has acquired a 25% interest in property management technology platform, Bricks + Agent. Goldman notes that this gives Hipages exposure to the A$21 billion Residential and Commercial Property Management channel. Goldman also expects the investment to expand Hipages’ ability to capture a greater share of tradie spend. The Hipages share price is fetching $4.02 on Friday.

Suncorp Group Ltd (ASX: SUN)

Analysts at Citi have upgraded this banking and insurance giant’s shares to a buy rating with a $12.80 price target. The broker notes that Suncorp’s hazards claims have overrun in FY 2022. This has led to the broker downgrading its earnings estimates for the current financial year. However, Citi remains positive on the medium term and believes recent share price weakness has left its shares trading at an attractive level. The Suncorp share price is trading at $11.51 this afternoon.

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

More reading

• The Avita Medical (ASX:AVH) share price just leapt 16% because of this
• Why CSR, Hipages, NIB, and Paladin Energy shares are racing higher
• Why the Suncorp (ASX:SUN) share price is dropping today
• Why this medical tech ASX share could rocket today
• 3 fantastic ASX growth shares to buy this month

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Avita Medical Limited and Hipages Group Holdings Ltd. The Motley Fool Australia has recommended Avita Medical Limited and Hipages Group Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Lake Resources N.L. (ASX: LKE) share price is on the rise today following the company’s latest positive announcement.

At the time of writing, the clean lithium developer’s shares are flat at $1.01 a pop. But, during early morning trade, its shares reached an all-time high of $1.185.

What did Lake Resources announce?

Lake Resources shares are climbing after the company provided an update on the bonus options and funding facility.

According to its release, Lake Resources advised around 78% of shareholders took up the 1-for-1 additional bonus options. This resulted in 86.1 million new shares being issued to participating shareholders, providing around $30 million for the company.

If listed on the ASX, these options if converted will add a further $64 million to Lake Resources’ coffers by mid-next year.

The company declared that at the end of October it had about $63 million in cash reserves.

Lake Resources managing director, Steve Promnitz stated that the company is progressing its flagship Kachi Lithium Brine Project. It aims to have the final investment decision wrapped up and construction beginning next year.

In addition, the company extended its Controlled Placement Agreement (CPA) with Acuity Capital to 31 January 2023. The funding amount increased to $80 million, giving ample firepower to pursue growth opportunities.

Successful drilling has continued at the Kachi project and Lake Resources plans to upgrade and expand the resource. This will see the site move from Inferred Resources to Measured and Indicated (M&I) Resources.

The term Inferred Resources refers to quantity, grade (quality) and mineral content that is estimated with a low-level of confidence. On the other hand, M&I Resources is a reasonable to high-level of confidence based on enough samples being collected.

If this can be achieved, Kachi would become a significant producer globally. The company would bring high purity lithium carbonate to the market with a low carbon footprint.

About the Lake Resources share price

The Lake Resources share price has been one of the best places to invest in the past year, zooming an incredible 1,940%. While renewed investor sentiment within the battery industry has helped support the share price, the company has been making significant tailwinds.

Based on today’s price, Lake Resources commands a market capitalisation of roughly $1.35 billion, with approximately 1.2 billion shares outstanding.

The post Why the Lake Resources (ASX:LKE) share price hit a record high today appeared first on The Motley Fool Australia.

More reading

• Why the Lake Resources (ASX:LKE) share price surged 10% on Tuesday
• Why ASX lithium shares are surging higher on Tuesday
• ASX lithium shares higher as spot prices mark new all-time high
• Lake Resources (ASX:LKE) share price jumps 19%, charges to an all-time high
• ASX lithium shares mixed on Tuesday as prices surge to all-time highs

Motley Fool contributor Aaron Teboneras 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 Bruce Jackson.

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Commonwealth Bank of Australia (ASX: CBA) is handily beating the S&P/ASX 200 Index (ASX: XJO) in afternoon trade. CBA shares are up 0.9% compared to a 0.5% gain for the ASX 200.

Today’s outperformance was mirrored in October.

Last month CBA shares gained 0.3%, closing October at $104.68. The ASX 200 went the other way, losing 0.1% for the month.

What happened with CommBank’s share price in October?

In the middle of the month, the bank held its annual general meeting (AGM).

Addressing CBA shareholders, chairman Catherine Livingstone underlined the $6.2 billion in dividends the bank paid during the 2021 financial year.

And she pointed to the fact that CBA shareholders received another $6 billion from the bank’s off-market share buyback.

Livingstone also highlighted CommBank’s healthy profit margins. “Cash net profit after tax was up 19.8% on the prior year, reflecting an improvement in economic conditions, and the strong operating performance of our core banking businesses,” she said.

CBA shares receive conflicting broker forecasts

ASX investors looking for guidance from brokers received some widely conflicting forecasts for the outlook for CBA shares.

Bell Potter came out with a bullish outlook for CommBank for the full 2022 financial year. Bell Potter’s analysts forecast a 9.6% year-on-year increase in the bank’s full-year cash profit for FY22. The analysts also predict a 16% lift in CBA’s FY22 dividend payout. Bell Potter listed a price target of $118 per share.

On the other side of the coin, Morgans had a very bearish outlook for CommBank, with a price target of $80. At the current price of $109.58 per share, that implies a share price fall of some 27%.

Later in October, Morgan Stanley joined the bearish bandwagon. The broker had a sell rating on CBA shares, with a price target of $90 over the next 12 months.

How have CBA shares performed longer term?

That’s the snapshot for October.

Longer-term, CBA shares are up 57% over the past 12 months, compared to a gain of 22% posted by the ASX 200.

Year-to-date the CommBank share price is up 31%.

The post Own CBA shares? Here’s how the share price performed in October appeared first on The Motley Fool Australia.

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• What these three experts are saying about the CBA crypto service
• ASX 200 (ASX:XJO) midday update: CBA enters crypto market, AMP jumps
• CBA (ASX:CBA) just became the first Aussie bank to offer Bitcoin and crypto services
• Leading brokers name 3 ASX shares to sell today

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 Bruce Jackson.

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