Category: Stock Market

As trading grinds to a halt, we summarise the reporting results from the big-name ASX shares today. It was once again a mixed bag of reactions to some of Australia’s largest companies and their financial results.

We’ll quickly unpack today’s results and then wrap it back up for tomorrow:

Those that delivered today

Telstra Corporation Ltd (ASX: TLS)

Shares in Australia’s largest telecommunications company surged 3.66% to $3.97. This followed the reporting of the telecom giant’s FY21 results on the ASX and the announcement of a $1.35 billion share buyback.

The takeaway points:

• Total income fell 11.6% to $23.1 billion
• Reported earnings before interest, tax, depreciation and amortisation (EBITDA) fell 14.2% to $7.6 billion
• Underlying EBITDA was down 9.7% to $6.7 billion (versus guidance of $6.6 billion to $6.9 billion)
• Net profit after tax increased 3.4% to $1.9 billion
• Fully franked final dividend of 8 cents per share, bringing full year dividend to 16 cents per share
• FY 2022 guidance: Underlying EBITDA growth of 4.5% to 9%
• $1.35 billion on-market share buyback

AGL Energy Ltd (ASX: AGL)

The AGL share price slumped after what management described as a “challenging year” in its FY21 results. The energy company shaved off 5.53% to finish the day at $7.18.

The takeaway points:

• Revenue decreased 10.0% on the prior corresponding period (pcp) to $10.9 billion.
• Underlying profits fell 33.5% to $537 million on the pcp.
• Underlying earnings per share (EPS) dropped 31.6% to 86.2 cents.
• Net operating cash outflow before significant items was $870 million – a 35% drop.
• Full year dividend of 75 cents per share (41 cents interim + 35 cents final). This is down 23.5% on the pcp for a yield of 9.87% on the current AGL share price.

Downer EDI Ltd (ASX: DOW)

Lastly, shares in Downer gained 4.2% to $5.77 today after reporting its earnings on the ASX. Investors reacted positively to the integrated services company’s FY21 results, with Downer swinging from a loss into profit for the full year.

The takeaway points:

• Underlying net profit after tax and amortisation up 21.4% year on year to $261.2 million
• Revenue down 8.8% to $12,234.2 million
• Statutory earnings before interest, tax, and amortisation increased by $371 million to $401 million
• Statutory net profit after tax of $230 million, up from a loss of $105.8 million
• Earnings per share (EPS) of 25.4 cents per share, up from a loss of 26.1 cents per share
• Unfranked final dividend of 12 cents per share, taking full year dividend to 21 cents per share unfranked

ASX shares reporting tomorrow

Unlike the last couple of days, Friday will see the week finish on a rather quiet note comparatively. Only Baby Bunting Group Ltd (ASX: BBN) and Bailador Technology Investments (ASX: BTI) are slated to be reporting earnings on the ASX tomorrow… though there may be a handful of smaller names among them.

The post The ASX reporting wrap-up: Telstra, AGL Energy, Downer appeared first on The Motley Fool Australia.

More reading

• Here are the 3 most heavily traded ASX 200 shares this Thursday
• 3 ASX 200 dividend shares lifting to 52-week highs
• What’s the outlook for the Telstra (ASX:TLS) share price?
• CBA’s bumper profit, IAG’s loss and Telstra expectations. Scott Phillips on Nine’s Late News
• Why AGL, Appen, CBA, & Rio Tinto shares are tumbling lower

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 Bailador Technology Investments Limited. The Motley Fool Australia owns shares of and has recommended Telstra Corporation Limited. The Motley Fool Australia has recommended Baby Bunting and Bailador Technology Investments 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 Harvey Norman Holdings Limited (ASX: HVN) share price is having a month to remember. By close of trade on Thursday, shares in the electronics and home appliances company were trading for $5.78 – up 2.12%. The S&P/ASX 200 Index (ASX: XJO) ended the day 0.12% lower, for context.

Over the month, its shares have risen an astonishing 8.82%. While the company hasn’t made any market announcements since 18 June, something has clearly made investors excited.

Let’s take a closer look.

“Go Harvey Norman, GO!”

The biggest story in the country, including for the financial markets, is the ongoing pandemic. As of writing, Sydney, pockets of regional NSW, the ACT, and Melbourne are in lockdown. South-east Queensland, Cairns, and regional Victoria have recently exited their own stay-at-home orders. In other words, about 2/3s of the country are in or have been in lockdown.

As we saw last year, home appliance and essential retailers like Harvey Norman, Wesfarmers Ltd (ASX: WES), and Nick Scali Limited (ASX: NCK) have done well with stay-at-home orders. In theory, consumers options are limited and there is more use of homewares during covid lockdowns. This, therefore, should benefit these companies. In the same period Harvey Norman is up nearly 9%, Wesfarmers is 10.5% higher and Nick Scali has jumped 15.4%.

These lockdowns up and down the east coast of Australia may be benefitting the Harvey Norman share price.

Another reason may be simple arithmetic. Harvey Norman shares are coming off a lowish base from the previous month.

Take this example. I own shares in XYZ. I bought these shares for $10 and they are now trading for $5. That is a fall of 50%. If tomorrow these shares went up to $9 that would be an 80% rise. While the rise is greater than the fall in relative terms, in absolute terms the opposite is true.

Harvey Norman share price snapshot

Over the past 12 months, the Harvey Norman share price has outperformed the ASX 200 by about 20 percentage points. Year-to-date it is about 8 percentage points better off than the benchmark index.

Harvey Norman has a market capitalisation of about $7 billion.

The post Why the Harvey Norman (ASX:HVN) share price is up 9% in a month appeared first on The Motley Fool Australia.

More reading

• These ASX 200 CEOs have the most wealth tied up in their companies
• COVID Delta is raging: 4 ASX shares to buy in turbulent times
• Why the JB Hi-Fi (ASX:JBH) share price is down 7% this month

Motley Fool contributor Marc Sidarous 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 Wesfarmers Limited. The Motley Fool Australia has recommended Harvey Norman 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 S&P/ASX 200 Index (ASX: XJO) had a see-saw day today. After an initial strong open that saw the ASX 200 rise above 7,600 points, it then went into the red. At market close, the ASX 200 has slightly recovered to finnish the day up 0.05%, at 7588 points.

But let’s now look at the ASX 200 shares that are topping the trading volume charts this Thursday.

The 3 most heavily traded ASX 200 shares this Thursday

AMP Ltd (ASX: AMP)

Financial services company AMP is our first ASX 200 share to check out today. A hefty 21.33 million AMP shares traded hands today. We don’t have to look too far to see why this company might be experiencing some elevated buying and selling.

AMP reported its half-year earnings results this morning, and investors have reacted decisively. AMP shares finished the day up a sizeable 3.70% to $1.12 a share. Even so, this company is still very close to its all-time low of $1.04 at these prices, and AMP remains down more than 28% year to date.

Pilbara Minerals Ltd (ASX: PLS)

Pilbara is quickly turning into one of the ASX 200’s surprise success stories in 2021 so far. Year to date, this ASX lithium producer is up a whopping 175%. That’s despite a drop of 2.86% today, with Pilbara shares trading at $2.38 at market close. This drop is probably what’s behind the 35.96 million Pilbara shares that swapped owners today. In addition to its eye-watering 2021 returns, Pilbara is also up more than 53% over just the past month alone.

Telstra Corporation Ltd (ASX: TLS)

ASX 200 telco Telstra is our most traded ASX share today, with a titanic 50.53 million shares having been traded on the ASX boards this Thursday. Just like with AMP, we don’t have to dig too deep to find where this trading volume is stemming from.

Telstra also reported its FY2021 earnings this morning, and investors have reacted with enthusiasm. Telstra is today up a meaty 2.52% to $3.96 a share after making a new 52-week high of $4 just after midday today. We can probably thank Telstra’s new share buyback program and its steady dividend for this share price rise, as well as the elevated trading volumes we are seeing today.

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

More reading

• 3 ASX 200 dividend shares lifting to 52-week highs
• What’s the outlook for the Telstra (ASX:TLS) share price?
• CBA’s bumper profit, IAG’s loss and Telstra expectations. Scott Phillips on Nine’s Late News
• The AMP (ASX:AMP) share price is pushing 4% higher this afternoon
• The Telstra (ASX:TLS) share price is driving 4% higher on Thursday

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 Archer Materials Ltd (ASX: AXE) share price ascended to new heights on Thursday.

As the semiconductor company has not posted any announcements today, it appears investors are still flying high on recent exuberance.

The Archer Materials share price closed today’s session at $2.17, up 16.04%.

In late afternoon trading, the shares touched $2.20, cementing a new all-time high for the stock.

Patents produce investor positivity

Investors bought Archer shares today despite no new announcements. That leaves us looking squarely at the last two days of back-to-back patent grants for the semiconductor company.

On Tuesday, Archer revealed it had been granted a South Korean patent for its CQ quantum computing chip.

The patent is a milestone and a significant step in validating the company’s technology. The Archer Materials share price launched 13.3% higher on this news.

Adding to the excitement, Archer also announced yesterday that it had been granted a Chinese patent for its CQ chip.

The company stated that the patent is a requirement in China for any future commercial operations in the jurisdiction.

With one patent under its belt, Archer can now proceed with its endeavours in the qubit computing space in China.

Commenting on the recent news, Archer CEO Dr Mohammad Choucair said:

Archer’s quantum computing chip IP is now protected in China – the largest market in the world, a major global economy, and powerhouse consumer of mobile technology. The grant of a patent in China further protects, validates, and substantially de-risks, our unique technology.

To realise the full commercial benefits of the 12CQ technology globally, Archer’s IP strategy includes patent protection in China. This is in line with the key commercialisation activities of the biggest semiconductor chip manufacturers from the US, EU, and Asia.

Archer Materials share price snapshot

The Archer Materials share price has had a monstrous run over the past year and is up 382%.

Momentum with the Archer Materials share price began to pick up in July. This coincided with the first indication of on-chip qubit control from the company.

The post The Archer Materials (ASX:AXE) share price is up 87% in a month appeared first on The Motley Fool Australia.

More reading

• Why the Archer Materials (ASX:AXE) share price rocketed 13% today
• The Archer Materials (ASX:AXE) share price is up 60% in a month to a record high
• Why the Archer Materials (ASX:AXE) share price is up 30% in a week

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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The Pure Hydrogen Corporation CDI (ASX: PH2) share price has soared into the green during afternoon trading, up by 16.13% to 18 cents.

Today’s gain comes as Pure Hydrogen gave updates on its Serowe 3 well in an announcement just before lunch time.

Let’s investigate further.

A quick recap on Pure Hydrogen

Pure Hydrogen’s line of business is in the exploration and development of hydrogen assets.

Its mission is to “become the leader in the development of hydrogen and fuel cell technology in Australia”, according to the company.

At the time of writing, Pure Hydrogen has a market capitalisation of $48.6 million.

What could be boosting the Pure Hydrogen share price?

In a positive move for the Pure Hydrogen share price, the company announced it had delivered “excellent preliminary results” at its Serowe 3 coalbed methane (CBM) gas project.

Serowe 3 is a joint venture with BotsGas on the exploration and production of CBM gas in Botswana, Africa.

The well was drilled to a depth of 477 metres, then “encountered 41 metres of interpreted gassy coal seams”. This result is more than “200% thicker than pre-drilling estimates”.

Moreover, a “short-term stabilised flow test” produced an estimated 54 bbls per day of water, “indicating the natural permeability of the coals” as per the release.

In addition, Pure Hydrogen estimates the risk of commercialisation “using inexpensive vertical well completions” amid other pathways “would now be substantially reduced”.

What did management say?

Speaking on the release, Pure Hydrogen managing director Scott Brown said:

This [is an] excellent result for Serowe 3. The well encountering much thicker coals and natural permeability has exceeded our pre-drill expectations. This bodes very well for the remainder of the Serowe Project appraisal program which continues in the next few weeks.

The current drilling program is looking more likely to confirm the presence of a very large and potentially commercial gas field at the Serowe Project.

Pure Hydrogen share price snapshot

The Pure Hydrogen share price has jumped 105% into the green this year to date. It has also gained 169% over the past year.

Consequently, these results have far outpaced the S&P/ASX 200 index (ASX: XJO)’s climb of around 25% over the past year.

The post Pure Hydrogen share price rockets 16% after project update appeared first on The Motley Fool Australia.

More reading

• Dicker Data (ASX:DDR) share price hits record high following dividend boost
• 3 ASX 200 dividend shares lifting to 52-week highs
• The Incitec Pivot (ASX: IPL) share price is up 18% in the past month. Here’s why
• How this ASX ETF is helping protect our school kids
• Is the NAB (ASX:NAB) share price in the buy zone after its Q3 update?

The author Zach Bristow has no positions 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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The Dicker Data Ltd (ASX: DDR) share price is enjoying a fresh record high on Thursday. This comes after the IT distributor announced its third-biggest quarterly dividend to investors.

During late afternoon trade, Dicker Data shares hit an all-time high of $14.97. However, some profit-taking has occurred, slightly pulling the shares back to $14.94, up 0.40%.

Dicker Data maintains strong dividend payout

Investors appear pleased with the company’s performance of late, sending Dicker Data shares 35% higher in a month.

In its release, Dicker Data declared a fully-franked dividend payment of 9 cents per share to be paid to shareholders.

It’s worth noting that the company pays dividends every 3 months instead of a semiannual basis like most other dividend-paying ASX businesses.

The largest and second-largest dividends from Dicker Data came in its FY20 results (10.5 cents) and FY19 results (13 cents).

The strong dividend payout means that Dicker Data has rewarded its investors with a total yearly dividend of 34.5 cents. Based on the current share price, this represents a trailing dividend yield of 2.3%.

The latest record date for the dividend falls on 18 August, with payment following on 1 September 2021.

Just last week, Dicker Data completed the acquisition of the second-largest IT distributor in New Zealand, Exeed Group.

The $68 million purchase is expected to provide Dicker Data with a platform to take on the biggest IT distributor in the country, Ingram Micro.

Dicker Data revealed it will use a mix of local market knowledge and access to its large range of brands. It estimates that its combined New Zealand businesses will have a revenue turnover of about $500 million.

Dicker Data share price snapshot

Over the last 12 months, Dicker Data shares have accelerated by more than 100%, with year-to-date gains of 39%.

On valuation grounds, Dicker Data commands a market capitalisation of roughly $2.5 billion, with more than 172 million shares outstanding.

The post Dicker Data (ASX:DDR) share price hits record high following dividend boost appeared first on The Motley Fool Australia.

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• The Dicker Data (ASX:DDR) share price has a new all-time high
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• Dicker Data (ASX:DDR) share price sets record high on acquisition update
• Here’s why ASX tech shares are up 6% on Monday
• Dicker Data (ASX:DDR) share price on watch after announcing key acquisition

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. owns shares of and has recommended Dicker Data Limited. The Motley Fool Australia owns shares of and has recommended Dicker Data 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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S&P/ASX 200 Index (ASX: XJO) dividend shares are typically slow movers with a solid track record of earnings growth.

However, these 3 shares might be making moves against the status quo to rally above 52-week highs in quick succession.

ASX 200 dividend shares breaking above 52-week highs

Amcor CDI (ASX: AMC)

Amcor has been a steady mover, grinding 8.8% higher year-to-date.

However, its shares have managed to rally as much as 5.06% in the past week to an intraday high of $16.60 on Thursday.

This intraday high tops its previous February and November 2020 peaks, marking a new 52-week high for the company.

Analysts at Macquarie Group Ltd (ASX: MQG) have highlighted a number of defensive ASX 200 dividend shares that could be top picks during reporting season, including Amcor.

The packaging business is expected to deliver its full year FY21 results on Wednesday, 18 August.

Using the last 12 months of dividends, Amcor currently pays a dividend of 4.1%.

Medibank Private Ltd (ASX: MPL)

The Medibank share price is a top performing ASX 200 dividend share, rallying to 52-week highs in August.

Shares in the private health insurance company have added 7.72% in the past month and a solid 14.80% year-to-date.

According to Credit Suisse, the broker is forecasting a total FY21 dividend of 13 cents, or a dividend yield of 3.72% at today’s prices.

Medibank’s full year results announcement is expected to be announced on Wednesday, 25 August.

Telstra Corporation Ltd (ASX: TLS)

The Telstra share price has jumped 3.92% to $3.98 on Thursday following the release of its FY21 results.

Telstra CEO Andrew Penn called the results a “turning point in our financial trajectory”, where the company’s “second half underlying EBTIDA was up on the first half, and our guidance for FY22 underlying EBITDA is $7.0-7.3 billion, which represents mid to high single digit growth. FY21 NPAT and EPS were up 3.4 per cent and 2 per cent respectively”.

The Telstra share price has surged 31.89% year-to-date, driven by moves such as a proposed legal restructure and selling 49% of its InfraCo Towers business to a consortium of funds.

The FY21 results also revealed a final dividend of 8 cents per share, lifting its full year dividend to 16 cents per share.

At today’s prices, this represents a dividend yield of 4%.

The post 3 ASX 200 dividend shares lifting to 52-week highs appeared first on The Motley Fool Australia.

More reading

• What’s the outlook for the Telstra (ASX:TLS) share price?
• CBA’s bumper profit, IAG’s loss and Telstra expectations. Scott Phillips on Nine’s Late News
• The Telstra (ASX:TLS) share price is driving 4% higher on Thursday
• ASX 200 midday update: Telstra, NAB, & QBE results
• Telstra (ASX:TLS) share price lifts off after dividend announcement

Motley Fool contributor Kerry Sun 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 Amcor Limited and 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 Incitec Pivot Ltd (ASX: IPL) share price has been quietly climbing in recent weeks. Shares in the Aussie manufacturer have climbed 18.2% higher in the past month while investors focus on the August reporting season.

At the time of writing, the Incitec Pivot share price is up 1.07%, trading at $2.83.

Why is the Incitec Pivot share price climbing?

It’s been a couple of weeks since the last price-sensitive ASX announcement from the fertiliser and chemicals manufacturer.

The most recent announcement was an investor market update on 29 July. Its shares climbed higher after the company announced a strong second-half performance. Firming commodity prices and a solid manufacturing performance were key factors behind the result.

Incitec Pivot reported strong electronic detonator sales growth in its explosives segment as it targets technology-driven segment earnings growth of 10% by FY22.

The Incitec Pivot share price also jumped 5.8% higher on 13 July after a positive manufacturing update.

Incitec Pivot reported changes to its manufacturing model including a shift from global to regional management structures. The company said it would improve and drive delivery of its manufacturing operations, particularly while COVID-19 travel restrictions remain.

The manufacturer also reported its Waggaman ammonia plant in Louisiana had restarted and reached full production.

The news sent the Incitec Pivot share price soaring and kickstarted a strong month on the markets.

A July 15 update on Incitec Pivot’s Range Gas Project joint venture with Central Petroleum Limited (ASX: CTP) drew a muted response. Central Petroleum reported all three wells in the pilot program had been operating continuously since pumping commenced on 14 June.

The joint venture was also running a competitive tender process to select an infrastructure provider to deliver gas processing facilities required to support full-field development.

The Incitec Pivot share price was subdued following the joint venture news. However, things have been good in the past month based on the recent strong gains.

The post The Incitec Pivot (ASX: IPL) share price is up 18% in the past month. Here’s why appeared first on The Motley Fool Australia.

More reading

• Here are 3 of the most heavily traded ASX 200 shares today
• Here are 3 ASX 200 shares flying around the markets today
• ASX 200 midday update: Nearmap rockets, Incitec Pivot jumps
• Why the Incitec Pivot (ASX:IPL) share price is racing 8% higher today

Motley Fool contributor Ken Hall 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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ASX exchange-traded funds (ETFs) have seen their popularity in Australia soar over the past 5 years.

And for good reason.

Why the ETF market is growing Down Under

ASX ETFs offer Aussie investors the means to invest – long or short – into various commodities with a single share purchase.

They also provide the means to invest into multiple sector-specific companies, often listed on international exchanges.

Today we throw the spotlight onto the Betashares Global Cybersecurity ETF (ASX: HACK).

This ASX ETF offers investors exposure to 39 large-cap global cybersecurity shares. HACK doesn’t hold any Aussie shares at the moment. That’s because our homegrown cyber companies aren’t quite big enough.

At least, not yet.

HACK’s top 4 holdings are Zscaler, Crowdstrike Holdings, Accenture, and Cisco Systems.

In an article I penned yesterday, I noted that cybersecurity shares led Saxo Market’s equity basket performance for the month of July.

Although HACK’s share price is sliding in intraday trading today, down just under 1%, the ASX ETF has gained 30% over the past year.

And with new reports of major hacks happening across the globe almost daily, cybersecurity companies will continue to find their services in high demand.

How this ASX ETF is helping protect school kids

You don’t have to look far to find hackers’ latest brazen efforts to steal or blackmail their way into ill-gotten fortunes.

Unfortunately, the global pandemic did more than unleash a deadly virus across the globe.

The shift to remote learning for kids also opened the door for hackers to spread virtual viruses throughout school and home computer networks.

As Bloomberg reports, “Cyber criminals are targeting US schools at an increasing rate after remote learning during the pandemic left them more vulnerable to hacks”.

While most schools in the United States are reopening at the end of August for the new school year, experts don’t believe the pace of hacks is likely to diminish.

Keith Krueger is the CEO of Consortium for School Networking. According to Krueger:

We see no evidence that this is abating. Criminals are having luck with it; they’re obviously having it with big cases we’re reading about every day. With back to school, we’re bracing ourselves for a real challenge this fall.

Going by Bloomberg’s figures, US schools have borrowed roughly US$600 billion (AU$810 billion) in the bond market. Logically, some of the Wall Street bond investors are eyeing the ramp-up in hacks nervously.

Daniel Barton is the head of tax-exempt bonds at Mellon. Among its US$25.9 billion in municipal assets, it owns school district debt. “Going to remote [learning] has really ramped up the level of cyberattacks. I don’t see this problem going away soon. There are so many bad actors,” Barton said.

With 39 large-cap cybersecurity companies in its portfolio, HACK is certainly playing its part in helping protect school systems across the globe.

But whether you’re looking to gain exposure to a basket of cybersecurity companies or wanting to track the price of gold without owning the actual metal, ASX ETFs are worth investigating.

The post How this ASX ETF is helping protect our school kids appeared first on The Motley Fool Australia.

More reading

• ASX Cyber Security ETF in line with Saxo Market’s top performers
• 2 exciting ETFs for ASX investors in August
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• 3 popular ETFs ASX investors need to know

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended BETA CYBER ETF UNITS. The Motley Fool Australia owns shares of and has recommended BETA CYBER ETF UNITS. 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 National Australia Bank Ltd (ASX: NAB) share price is edging higher on Thursday following the release of its third quarter update.

At the time of writing, the banking giant’s shares are up slightly to $27.24.

This means the NAB share price is now up almost 19% in 2021.

How did NAB perform in the third quarter?

During the third quarter, NAB reported an unaudited statutory net profit of $1.65 billion and unaudited cash earnings of $1.70 billion.

This was broadly in line with the average quarterly profit and cash earnings that it achieved during the first half of FY 2021.

What was the reaction the update?

The team at Goldman Sachs were pleased with NAB’s quarterly performance. It notes that the bank is trading ahead of its second half expectations.

Goldman said: “NAB has released its 3Q21 trading update, with unaudited cash earnings from continuing operations of A$1.70 bn, up 1% on the previous period average, run-rating 11% ahead of what is implied by our current 2H21E forecasts.”

“The better than expected performance is more than driven by BDDs [bad and doubtful debts] that are run-rating much lower than our current 2H21E forecasts.”

“While headline PPOP [pre-provisioning operating profit] trends appear soft, this is largely on account of weak Markets and Treasury revenues (similar to CBA’s result yesterday), with core trends broadly consistent with our current forecasts, highlighting that the core bank at NAB is again growing.”

The broker also notes that NAB’s CET1 ratio of 12.6% is running ahead of its forecasts as well.

Is the NAB share price in the buy zone?

According to the note, Goldman Sachs has a conviction buy rating and $30.34 price target on its shares.

Based on the current NAB share price, this implies potential upside of 11% over the next 12 months before dividends. This stretches to approximately 16% including dividends.

The post Is the NAB (ASX:NAB) share price in the buy zone after its Q3 update? appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: Telstra, NAB, & QBE results
• NAB (ASX:NAB) share price on watch following June quarter update
• Why the NAB (ASX:NAB) share price is closing in on a 52-week high
• Westpac (ASX:WBC) share price lags the big banks’ after NZ ‘formal warning’
• Is now a good time to buy Bendigo and Adelaide Bank (ASX:BEN) shares?

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 Bruce Jackson.

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