Category: Stock Market

The Bank of Queensland Limited (AS:X BOQ) share price finished yesterday’s trading at $8.60, up 0.82%.

That might seem inocuous. But zooming out, and the picture doesn’t quite look as rosy. At this share price, Bank of Queensland is now at a 7-month low. We hadn’t seen this ASX bank at the current share price levels since back in March. That’s quite an abrupt fall in value. Especially, considering we have seen Bank of Queensland shares shed a nasty 4% or so since last Friday alone. So what’s going on here?

Well, we might apart some blame to the decision of this company to be among the first banks to tighten up its loan assessment criteria. Last Thursday, BoQ announced that it will implement the higher interest rate buffer prescribed by the Australian Prudential Regulation Authority (APRA). Banks used to assess a client’s ability to repay their loan with an interest rate 2.5% greater than the loan’s actual rate. This will now be lifted to 3%. When this news came to light, it initiated a share price drop for the bank last week.

Bank of Queensland shares hit hard by ex-dividend

But another big reason why Bank of Queensland shares have fallen so much over the past week has been a good one for shareholders. That might seem paradoxical, but BoQ traded ex-dividend last Thursday as well.

As we covered at the time, shareholders will be receiving this ASX bank’s final dividend payment for FY2021 of 22 cents per share, fully franked, on 18 November. This dividend is the largest Bank of Queensland has paid out since the onset of the coronavirus pandemic. As such, it also resulted in a large share price drop when the value of this dividend left the BoQ share price last Thursday. 

So it seems that Bank of Queensland’s present 7-month low can mostly be blamed both on lukewarm investor sentiment in light of its decision to tighten its lending standards. As well as its ex-dividend share price loss.

It might not be all bad news though. As my Fool colleague Tristan covered over the weekend, broker Citi has rated the Bank of Queensland share rice as a ‘buy’. That came along with a 12-month share price target of $10.50. That implies a future potential upside of 22.1% over the next 12 months, not including any dividend returns.

At the last Bank of Queensland share price, this ASX bank had a market capitalisation of $5.51 billion. It also had a dividend yield of 4.53%

The post Why is the Bank of Queensland share price trading at 7-month lows? appeared first on The Motley Fool Australia.

More reading

• Here’s why the Bank of Queensland (ASX:BOQ) share price tumbled 5% in October
• Own Bank of Queensland (ASX:BOQ) shares? Here’s what you should know about its home loans
• Why is the Bank of Queensland (ASX:BOQ) share price plunging today?
• The Bank of Queensland (ASX:BOQ) share price will trade ex-dividend on Thursday. Here’s what you need to know
• Here are 5 ASX shares trading ex-dividend this week

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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After a rollercoaster of a month, the Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price ended October nearly exactly where it had started.

That’s despite the bank releasing its results for financial year 2021 in the last week of October.

At the end of September, the ANZ share price was $28.15. On the final close of the month just been, it was trading for $28.14. That represents a 0.04% dip.

Though, that’s relatively on par with the performance of the broader market. The S&P/ASX 200 Index (ASX: XJO) fell 0.12% in that same time frame. Meanwhile, the All Ordinaries Index (ASX: XJO) gained 0.12%.

At market close on Friday, the ANZ share price is $28.47, 1.1% higher than it was at last month’s end.

Let’s take a look at what the market heard from ANZ over the course of October.

The month that was for ANZ

The ANZ share price’s performance over the month just been was underwhelming despite the bank outperforming expectations over financial year 2021.

ANZ released its results for financial year 2021 on Thursday last week.

As The Motley Fool Australia reported at the time, the bank’s performance was better than leading broker, Goldman Sachs had expected.

ANZ saw its profits after tax increase by 72% over financial year 2021, reaching approximately $6.16 billion.

The increase in profits likely contributed to the bank’s decision to hand its shareholders a 72 cent fully franked dividend.

That’s the largest dividend announced by ANZ since its 80 cent, 70% franked, final dividend of 2019.

Unfortunately, the market didn’t seem to be enthused by ANZ’s strong results. The ANZ share price finished last Thursday’s session just 0.7% higher than its previous close.

While its financial year 2021 results were the only price-sensitive news released by ANZ last month, the bank also announced its plan to break into the buy now, pay later (BNPL) market.

ANZ plans to partner with Visa Inc (NYSE: V) to launch a new credit card feature in 2022. The feature will allow ANZ credit card users to pay for purchases in instalments.

ANZ share price snapshot

Despite its sluggish performance in October, the ANZ share price is currently 23% higher than it was at the start of 2021.

It has also gained 47% since this time last year.

The post What happened to the ANZ (ASX:ANZ) share price in October? appeared first on The Motley Fool Australia.

More reading

• Why is the ANZ (ASX:ANZ) share price having such a stellar day?
• Can the Macquarie (ASX:MQG) share price break new highs over $200?
• Brokers name 2 ASX 200 dividend shares to buy
• Top ASX shares to buy in November 2021
• The ANZ share price is up 24% so far in 2021. Here’s why

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Appen Ltd (ASX: APX) is the most prominent technology company on the ASX involved in artificial intelligence (AI).

Its shareholders have suffered immensely in recent times, with the stock dropping more than 65% over the past 12 months. But even with that calamity, Appen shares have quadrupled in the last 5 years.

And it has gained more than 1,668% since listing in January 2015.

So if you’re interested in getting in from the ground level on a new AI player, there is one such company listing this month on the ASX.

Heart disease will only increase with an ageing population

Perth’s Artrya Limited (ASX: AYA) has just closed its initial public offer, with its shares due to commence general trading on the ASX on 26 November.

The company’s technology aims to automate the diagnosis of coronary artery heart disease, which can cause heart attacks.

Co-founder and managing director John Barrington said there is growing demand for improved detection of coronary artery disease.

“With 9 million people dying from the disease each year globally, the pressure on health systems is already substantial, and it’s only going to increase over the next few decades with ageing populations,” he said.

“This float will assist the company in its next stage in expansion.”

During the IPO, shares were offered for $1.35 each to raise $40 million and give Artrya a market valuation of $105.45 million.

According to the company, it has received $19 million of funding over the past 2 years from both investors and government research funds.

The Motley Fool has enquired with Artrya to confirm the progress of the IPO.

‘No warning signs of a heart attack’

Artrya’s flagship cloud software suite is called Salix, which non-invasively detects the presence of “vulnerable plaque” in a patient’s arteries in about 15 minutes.

Such plaque is liable to rupture and cause heart attacks.

The technology was developed in conjunction with expertise from the University of Western Australia, the Harry Perkins Institute of Medical Research, and the Ottawa Heart Institute.

An “unrestricted launch” across Australia is scheduled for early in the new year while the IPO money will be used to take the technology overseas after that.

“Coronary artery disease affects an estimated 126 million people worldwide,” said Artrya chair Bernie Ridgeway.

“Of those, the majority have no warning signs of a heart attack. As the prevalence of CAD rises due to an ageing population, global health systems will have to deal with more CAD cases.”

He added that Salix is expected to disrupt the international market for Coronary Computed Tomography Angiography (CCTA) scans and Invasive Coronary Angiogram (ICA) procedures.

“An estimated 20 million cardiac CT scans are expected to be performed in both North America and Europe alone by 2025,” said Ridgeway.

“By addressing current limitations in diagnostic reporting for CAD, Salix has a valuable first-mover advantage.”

Salix was placed on the Australian Register of Therapeutic Goods (ARTG) as a Class 1 medical device in November last year.

Artrya is pursuing a subscription model for commercialisation of the software.

“This model will help Artrya penetrate the global CCTA and ICA markets because healthcare providers pay no upfront costs to use Salix,” Ridegeway said.

“Artrya believes the software-as-a-service model could deliver annuity revenue and profitable margins for the company.”

The post Move over Appen: A new artificial intelligence stock to list on the ASX appeared first on The Motley Fool Australia.

More reading

• Analysts name 2 excellent ASX growth shares to buy
• These were the best performing ASX tech shares in October
• The Appen (ASX:APX) share price has jumped 23% in the last month
• 3 fantastic ASX shares that could be buys in November
• Top brokers name 3 ASX shares to buy today

Motley Fool contributor Tony Yoo owns shares of Appen Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Appen Ltd. The Motley Fool Australia owns shares of and has recommended Appen 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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Looking for a growth share or two to buy this month? Two that could be worth considering are listed below.

Both have been tipped to grow strongly over the 2020s. Here’s what you need to know about them:

Appen Ltd (ASX: APX)

The first growth share to look at is Appen. It is a leading developer of high-quality, human annotated datasets for machine learning (ML) and artificial intelligence (AI). These datasets are integral for ML and AI models. Without high quality data, a model will never reach its potential.

Prior to the pandemic, Appen had been growing at an explosive rate thanks to strong demand for its services from many of the biggest tech companies in the world. Unfortunately, during the pandemic, these tech giants put a lot of their projects on hold, leading to a sharp reduction in demand for Appen’s services. The good news is that there are signs that demand is rebounding strongly. For example, Facebook has just announced plans to increase its AI and ML spending materially.

The team at Citi remain very positive on Appen. The broker currently has a buy rating and $17.10 price target on the company’s shares.

IDP Education Ltd (ASX: IEL)

Another ASX growth share to look at is IDP Education. It is a provider of international student placement services and English language testing services.

It also experienced a reduction in demand for its services during the pandemic. However, this demand has come back with a bang. IDP Education recently released a first quarter update which revealed that IELTS volumes were up 84% on the same period last year.

Another positive is that the company has recently bolstered its offering with a major acquisition in India. This makes it the clear leader in the hugely important and lucrative market. All in all, combined with its strong market position in other key markets and its growing software business, the future looks very bright for IDP Education after a couple of difficult years.

Morgan Stanley is very positive on the company’s prospects. It currently has an overweight rating and $40.20 price target on its shares.

The post Analysts name 2 excellent ASX growth shares to buy appeared first on The Motley Fool Australia.

More reading

• These were the best performing ASX tech shares in October
• The Appen (ASX:APX) share price has jumped 23% in the last month
• 3 fantastic ASX shares that could be buys in November
• Top brokers name 3 ASX shares to buy today
• Is the Appen (ASX:APX) share price dirt cheap?

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 Appen Ltd and Idp Education Pty Ltd. The Motley Fool Australia owns shares of and has recommended Appen 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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There are a few different ASX shares that are currently rated highly by brokers.

If a business is rated as a buy, it means the business could be good value and may be able to do well over the next 12 months.

Brokers are certainly not right all the time. But if multiple analysts think that a business is a buy, then it may be worth considering if they are an opportunity. However, it’s possible that all of the brokers are wrong at once.

With that in mind, here are two to consider:

Credit Corp Group Ltd (ASX: CCP)

Credit Corp is a market leader of debt collecting in Australia and it is rapidly growing in the US.

FY21 saw an 11% increase in net profit after tax to $88.1 million. The US division really drove the result, doubling profit to $17.7 million.

Credit Corp is currently rated as a buy by at least three brokers, including Ord Minnett, which has a price target of $32 on the business.

Based on the broker’s numbers, the Credit Corp share price is valued at 23x FY22’s estimated earnings. It’s also expected to pay a grossed-up dividend yield of 3.4%.

Whilst Credit Corp is scheduled to hold its AGM this week, it did provide an outlook and guidance update with its FY21 result.

Credit Corp said it entered FY22 with considerable momentum, having invested heavily during FY21 and secured a record committed starting purchased debt ledger pipeline for FY22.

The ASX share said that it is expecting to produce earnings growth of 8% at the top end of its range for net profit to be between $85 million to $95 million. Ord Minnett thinks Credit Corp could end up beating this guidance.

IOOF Holdings Ltd (ASX: IFL)

IOOF is a diversified financial business, with a significant portion of the business being related to financial advice.

It’s currently rated as a buy by at least four brokers, including Morgan Stanley which has a price target of $5.50 on the business.

The broker highlights the recent FY22 first quarter update, which showed that fund outflows were not as bad as expected.

In that quarterly update, the ASX share said that it saw continued growth in funds under management and administration (FUMA), with restated FUMA up $2.4 billion to $321.1 billion.

The funds under administration business saw an increase of $1.8 billion over the quarter to $222.8 billion. Positive market movements of $3.4 billion were offset by pension payments of $0.8 billion and net outflows of $0.9 billion.

Meanwhile, the funds under management (FUM) increased by $0.6 billion over the quarter to $98.3 billion. Market gains of $2 billion were offset by net outflows of $1.4 billion.

After IOOF’s recent acquisitions, including MLC, it said that its previously stated combined acquisition pre-tax synergy run rate target of $218 million per annum by the end of FY24 and the FY22 synergy run-rate range of $80 million to $100 million, remain on track. It’s also evaluating whether there are additional synergies that can be found.

Morgan Stanley thinks it’s valued at 11x FY22’s estimated earnings, with a grossed-up dividend yield of 9.25%.

The post Brokers highly rate these 2 ASX shares appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Thursday
• These were the worst performing ASX 200 shares last week
• Why Codan, IOOF, Orocobre, and PointsBet shares are tumbling
• I’m buying these 2 cheap ASX shares right now: expert

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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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On Wednesday the S&P/ASX 200 Index (ASX: XJO) was back on form and stormed higher. The benchmark index rose 0.9% to 7,392.7 points.

Will the market be able to build on this on Thursday? Here are five things to watch:

ASX 200 expected to rise again

The Australian share market looks set to rise on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 29 points or 0.4% higher this morning. This follows a solid night on Wall Street, which in late trade sees the Dow Jones up 0.2%, the S&P 500 up 0.5%, and the Nasdaq up 0.85%.

Oil prices sink

Energy shares including Oil Search Ltd (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could have a difficult day after oil prices sank overnight. According to Bloomberg, the WTI crude oil price is down 4.4% to US$80.21 a barrel and the Brent crude oil price has fallen 3.9% to US$81.43 a barrel. Traders were selling oil amid another big rise in US stockpiles.

Domino’s rated as a buy

The team at Goldman Sachs has held firm with its buy rating on the Domino’s Pizza Enterprises Ltd (ASX: DMP) share price following its annual general meeting. The broker has, however, trimmed its price target to $147.00. This follows a weaker than expected performance during the first 18 weeks of FY 2022 in the Japanese market. Group same store sales remain up 4.3% over the period.

Gold price drops

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could come under pressure today after the gold price dropped. According to CNBC, the spot gold price is down 1% to US$1,771.2 an ounce. Traders were selling gold following the US Federal Reserve’s meeting. The central bank intends to start tapering its bond purchases.

AGMs being held

A number of ASX 200 companies are holding their annual general meetings today and could provide updates on their performances. Among the companies holding their meetings are Credit Corp Group Limited (ASX: CCP), Inghams Group Ltd (ASX: ING), NIB Holdings Limited (ASX: NHF), and Zip Co Ltd (ASX: Z1P).

The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia.

More reading

• Why did the Orocobre (ASX:ORE) share price leap 6% today?
• Here are the top 10 ASX shares today
• These 3 ASX 200 shares are topping the volume charts this Wednesday
• Why has the BetaShares Global Cybersecurity ETF (ASX:HACK) share price leapt 7% in a month?
• Why did the Zip (ASX:Z1P) share price have such a lousy month in 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 ZIPCOLTD FPO. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited and NIB Holdings 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 Dubber Corp Ltd (ASX: DUB) share price continued its unrelenting climb on Wednesday. Miraculously, the appetite for shares in the cloud-based call recording software company was large today, despite its quarterly report being handed out on Friday last week.

By the end of the session, more than 1.7 million shares had been traded in the company. The sustained positive sentiment saw the Dubber share price finish at $3.32, up 5.1%.

So, what was in the company’s latest quarterly that has resulted in such an insatiable demand?

What made it a killer quarter for Dubber?

• Revenue increased 149% year on year to $8.1 million
• Subscribers nearly doubled to more than 450,000
• Annual recurring revenue (ARR) rose 140% year on year to $43.5 million
• Operating cash receipts skyrocketed 231% year on year to $9.1 million
• Completed the acquisition of AI meeting recorder and notetaker, Notiv
• Finished the quarter with $126 million cash on its balance sheet.

What it means for the Dubber share price?

Whichever way you slice it, this was a standout quarter for the unified call recording and voice intelligence solution provider. All of the typical software-as-a-service (SaaS) metrics indicated substantial growth, demonstrating growth at scale.

During the September quarter, Dubber witnessed organic SaaS subscription growth of more than 30,000. The total subscriber base grew by a far greater number but the company maintains a policy of not including foundation partner program subscribers in this metric.

Moreover, the total subscriber base surpassed 450,000 by the end of the quarter. Impressively, this represented an increase of 98% on the prior corresponding period. Likewise, important financial figures such as annualised recurring revenue and cash receipts also expanded by triple-digit values. This incredible growth bodes well for the Dubber share price.

Additionally, the company highlighted an increase in activity in the global unified communications markets. This was particularly noticed in financial services sectors where compliance requires call recording. As a result, these enterprises continue to utilise Cisco Webex and Microsoft, where Dubber’s tools are embedded.

Comments from management

Chalking up another quarter of strong growth for the Australian tech company, management shared some key points with shareholders. In this case, Dubber CEO Steve McGovern stated:

We see an accelerating trend towards the importance of enhanced voice data capability beyond just that required for compliance purposes.

This trend is being observed by our service provider partners, allowing us to expand engagements with existing partners and attract new service providers through initiatives such as the Foundation Partner program.

On the back of this positive performance, the Dubber share price has gained 6.4%. This takes the company’s year-to-date share price return to 89.7%.

The post Dubber (ASX:DUB) share price rally continues days after a quarter to remember appeared first on The Motley Fool Australia.

More reading

• 3 high quality ETFs getting ASX investors excited
• Ansell (ASX:ANN) share price climbs 2% amid takeover rumours
• Here’s why the Tyro (ASX:TYR) share price tumbled 15% today
• Why did the Orocobre (ASX:ORE) share price leap 6% today?
• Here are the top 10 ASX shares today

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. owns shares of and has recommended Dubber Corporation. The Motley Fool Australia owns shares of and has recommended Dubber Corporation. 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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If you don’t have sufficient funds to build a diverse portfolio, then exchange traded funds (ETFs) could be a quick fix.

The is because ETFs give investors access to a large number of different shares through a single investment. This allows you to spread your funds far wider than you would if you were buying individual shares.

With that in mind, I have picked out three ETFs that are very popular with ASX investors right now. Here’s what you need to know about them:

BetaShares Global Cybersecurity ETF (ASX: HACK)

The first ETF to look at is the BetaShares Global Cybersecurity ETF. This ETF gives investors exposure to the leading companies in the global cybersecurity sector. This means you’ll be buying a slice of companies such as Accenture, Cisco, Cloudflare, Fortinet, Okta, Splunk, Zscaler, Crowdstrike.

Due to the growing threat of cyberattacks globally, demand for cybersecurity services has been increasing strongly. And with this trend expected to continue long into the future, these companies could be in a strong position for growth over the 2020s.

VanEck Vectors Video Gaming and eSports ETF (ASX: ESPO)

Another ETF for investors to look at is the VanEck Vectors Video Gaming and eSports ETF. This ETF gives investors access to companies involved in the growing video gaming market. Among the exciting shares you’ll be owning are hardware giant Nvidia and game developers such as Electronic Arts, Roblox, and Take-Two.

VanEck notes that these companies are in a position to benefit from the increasing popularity of video games and eSports. This could bode well for the ETF over the 2020s.

Vanguard MSCI Index International Shares ETF (ASX: VGS)

A final ETF to look at is the Vanguard MSCI Index International Shares ETF. At the last count, this ETF was providing investors with exposure to a whopping 1,504 of the world’s largest listed companies.

Among the companies you’ll be buying a slice of are giants including Apple, Johnson & Johnson, JP Morgan, Nestle, Procter & Gamble, and Visa. The manager of the fund, Vanguard, notes that the ETF allows investors to take part in the long-term growth potential of international economies. This could make it a good option if your portfolio lacks international exposure.

The post 3 high quality ETFs getting ASX investors excited appeared first on The Motley Fool Australia.

More reading

• Why has the BetaShares Global Cybersecurity ETF (ASX:HACK) share price leapt 7% in a month?
• 3 great ASX tech shares that might be good buys
• Here’s why Vanguard MSCI Index International Shares ETF (ASX:VGS) could be a top passive investment idea
• 2 excellent ETFs for ASX investors right now
• 3 stellar ASX tech shares to buy right now

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 BETA CYBER ETF UNITS and Vanguard MSCI Index International Shares ETF. The Motley Fool Australia owns shares of and has recommended BETA CYBER ETF UNITS. The Motley Fool Australia has recommended VanEck Vectors ETF Trust – VanEck Vectors Video Gaming and eSports ETF and Vanguard MSCI Index International Shares ETF. 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 Ansell Limited (ASX: ANN) share price ended Wednesday’s session higher after it was the subject of more takeover rumours.

According to reports in The Australian, the personal protective equipment maker could be on the radar of international rivals seeking new acquisitions.

As of Wednesday’s close, the Ansell share price is $32.61. That’s 2.32% higher than it was at the end of Tuesday’s session.

For context, both the S&P/ASX 200 Index (ASX: XJO) and the All Ordinaries Index (ASX: XAO) gained 0.8% on Wednesday.

Let’s take a closer look at the rumours surrounding Ansell today.

Ansell share price gains amid takeover rumours

The Ansell share price spent Wednesday in the green. The gains came after The Australian flagged the possibility Ansell is being viewed as a takeover target by its larger competitors.

The publication stated healthcare and safety product manufacturer 3M (NYSE: MMM) and protective equipment producer Dupont do Nemours Inc (NYSE: DD) are both on the lookout for new businesses to buy.

Further, it said Ansell, with its $4.17 billion market capitalisation, could be prime acquisition fodder. Particularly as debt is currently cheap and the business is performing well.

The company’s bottom line was positively impacted by the COVID-19 pandemic as people turned to using personal protective equipment to help stave off the virus.

Ansell reported US$2 billion worth of sales for financial year 2021, a 25.6% increase on the prior financial year.  

It also saw its net profit after tax boosted 57% on that of the prior comparable period, reaching US$248 million.

It’s not the first time The Australian has flagged Ansell as a takeover target this year.

In February, the publication stated private equity suitors could be readying themselves to make a bid for the ASX-listed company.

Despite reporting increased profits, the Ansell share price has struggled on the ASX this year.

It is currently 6% lower than it was at the start of 2021. It has also fallen 22% since this time last year.

The post Ansell (ASX:ANN) share price climbs 2% amid takeover rumours appeared first on The Motley Fool Australia.

More reading

• Ansell (ASX:ANN) share price hits a new 52-week low today
• Leading brokers name 3 ASX shares to sell today
• Why Ansell, Predictive Discovery, Strike Energy, & Zip shares are sinking
• Why the Ansell (ASX: ANN) share price is crashing today
• ASX 200 (ASX:XJO) midday update: Westpac’s $1.3bn earnings hit, Ansell sinks

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Ansell 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 Tyro Payments Ltd (ASX: TYR) share price dropped 15% today after the payments business gave a presentation at its annual general meeting (AGM).

While investors may already have seen how it performed in FY21, the company’s latest thoughts may be new information.

Looking ahead

The payments business outlined a number of things that it’s doing to expand its operations.

Tyro said that it has an appetite to continue investing to capture segment share growth opportunities. This will require a step-up in operational and capital expenditure investment in key project areas including the Tyro Go dongle, its e-commerce platform and a next generation terminal.

But that’s not the only thing that Tyro is working on. It’s extending its merchant cash advance product.

Tyro also said that there is an opportunity with Medipass in combination with its existing health solutions to create the leading unified claiming and payments platform for Australian healthcare practitioners.

The payments company is looks to deploy its IP in the alliance model into other market opportunities. It has gone into an alliance with the regional bank Bendigo and Adelaide Bank Ltd (ASX: BEN). Tyro also said that it has a pilot in operation with Telstra Corporation Ltd (ASX: TLS) that includes 29 of its retail locations where business customers can view and sign up to Tyro terminals.

Management also said that the business has continuing appetite for bolt on acquisitions to gain scale, leverage its platform or add capabilities.

The company declined to give any guidance.

Trading update

Tyro gave a trading update as part of its AGM for FY22 in the year to date to 29 October 2021. How the business is performing can have an impact on the Tyro share price.

In the payments business, it says that it averaged 1,259 new merchant applications per month for the first four months of FY22.

The transaction value to 29 October 2021 was up 25% year on year to $8.97 billion. The transaction value in the two weeks since NSW came out of lockdown was up 46%. The e-commerce value to 31 October 2021 was up 1,848% to $178.6 million.

Turning to the banking business, loan originations to 31 October 2021 was $20.6 million, up 1,447%. Deposit balances were $97.7 million at 31 October 2021, an increase of 7%.

Finally, Tyro said that its gross profit to 31 October 2021 was $38.5 million, an increase of 14%.

That gross profit increased was lower than what was achieved in FY21, where gross profit grew by 28% to $119.4 million.

Tyro’s payment terminals problems

During the last financial year, Tyro suffered from a terminal connectivity issue in January 2021. The business established a remediation program to provide financially-impacted merchants a channel to seek to claim financial loss caused by the incident. As of yesterday, 93% of all remediation claims relating to the terminal incident have been resolved.

Tyro said it is developing a dongle ‘failover’ solution for every merchant, which is an industry first. However, it is facing legal proceedings in the Federal Court on behalf of certain merchants. Tyro said it’s going to defend these proceedings.

The post Here’s why the Tyro (ASX:TYR) share price tumbled 15% today appeared first on The Motley Fool Australia.

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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. owns shares of and has recommended Tyro Payments. The Motley Fool Australia owns shares of and has recommended Telstra Corporation Limited. The Motley Fool Australia has recommended Tyro Payments. 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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