Category: Stock Market

With a new month just days away, let’s take a look at four ASX dividend stocks that analysts think could be worth adding to your portfolio in June.

Here’s what you need to know about them:

Accent Group Ltd (ASX: AX1)

Accent could be an ASX dividend stock to buy in June. It is the footwear-focused retailer behind brands such as HYPEDC, Platypus, Stylerunner, Subtype, and The Athlete’s Foot.

Bell Potter is a big fan of the company and sees significant value in its shares at current levels. The broker currently has a buy rating and $2.50 price target on them.

As for dividends, Bell Potter expects fully franked dividends per share of 13 cents in FY 2024 and then 14.6 cents in FY 2025. Based on the latest Accent share price of $1.89, this represents dividend yields of 6.9% and 7.7%, respectively.

Centuria Industrial REIT (ASX: CIP)

Another ASX dividend stock for investors to consider buying in June is Centuria Industrial. It is the country’s largest domestic pure play industrial property investment company.

Analysts at UBS are feeling very positive about the company’s outlook and have a buy rating and $3.71 price target on its shares.

The broker is also expecting some decent yields from its shares in the near term. It is forecasting dividends per share of 16 cents in both FY 2024 and in FY 2025. Based on the current Centuria Industrial share price of $3.20, this represents dividend yields of 5% in both years.

Deterra Royalties Ltd (ASX: DRR)

Deterra Royalties could be another excellent ASX dividend stock to buy next month. It is a mining royalties company with a collection of cash-generating assets across Australia.

Morgan Stanley is positive on the company and has an overweight rating and $5.60 price target on its shares.

It also expects Deterra Royalties to be in a position to pay some big dividends in the near term. It is forecasting fully franked dividends per share of 32.7 cents in FY 2024 and 39 cents in FY 2025. Based on the current Deterra Royalties share price of $4.77, this will mean yields of 6.8% and 8.2%, respectively.

Eagers Automotive Ltd (ASX: APE)

A final ASX dividend stock that could be a buy in June is Eagers Automotive. It is operates one of Australia’s largest auto dealership networks.

Bell Potter sees a lot of value in its shares following a recent selloff. The broker reiterated its buy rating with a price target of $13.35.

As for income, it expects Eagers Automotive to pay fully franked dividends of 64.5 cents per share in FY 2024 and then 73 cents per share in FY 2025. Based on its current share price of $10.52, this represents dividend yields of 6.1% and 6.9%, respectively.

The post 4 excellent ASX dividend stocks to buy in June appeared first on The Motley Fool Australia.

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• 2 of the best passive-income-focused ASX shares to consider buying in June
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group and Eagers Automotive Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The S&P/ASX 200 Index (ASX: XJO) share Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) is a stalwart in my portfolio, and I expect to own it for the rest of my life.

Soul Patts is an investment house that has been listed since 1903, making it one of the oldest companies on the ASX.

It started as a chemist with 21 pharmacy stores, but it’s now a very different business. Incredibly, Soul Patts has been managed by the same family from the start – Robert Millner is the fourth generation of the family to chair the company.

Being old doesn’t automatically make it a compelling investment, though longevity is a useful characteristic for a long-term investment. It means I can confidently hold the ASX 200 share for a long time.

Three factors really matter to me about this business.

Diversification and investment flexibility

Diversification is appealing because it lowers the risk to the Soul Patts portfolio if a particular investment goes wrong.

The portfolio is invested in multiple industries and asset classes, including ASX blue-chip shares, ASX small-cap shares, private businesses, property, and credit/bonds.

In terms of individual ASX companies, some of its main investments include Brickworks Limited (ASX: BKW), New Hope Corporation Ltd (ASX: NHC), TPG Telecom Ltd (ASX: TPG), Tuas Ltd (ASX: TUA), BHP Group Ltd (ASX: BHP), Macquarie Group Ltd (ASX: MQG), CSL Ltd (ASX: CSL), Goodman Group (ASX: GMG) and Wesfarmers Ltd (ASX: WES).

Other areas it’s invested in include agriculture, resources, financial services, retirement living, swimming schools, electrification and more.

I like that the business has the flexibility to invest almost anywhere, opening up lots of opportunities for the company to find the best investment.

Re-investment

One of the most substantial financial moves that can help an ASX 200 share deliver long-term returns is the re-investment of profit back into itself for more growth.

With Soul Patts, there’s a double layer of re-investment occuring. The investment house’s portfolio of companies are re-investing inside their own businesses. Soul Patts doesn’t need to do anything for Wesfarmers, Goodman and Brickworks to invest in and grow their operations.

On top of that, Soul Patts receives dividends and distributions from its portfolio of assets. After paying for its costs and sending a majority of the net cash flow to shareholders as a dividend, Soul Patts re-invests some of that cash flow into more opportunities, adding more financial power to the snowballing effect of growth.

Growing dividends

The ASX 200 share has grown its annual ordinary dividend every year since 2000, the longest streak of consecutive dividend increases on the ASX.

Dividend hikes aren’t guaranteed, but it’s nice to know that there’s a good chance next year’s dividend payment will be larger than this year’s.

In the FY24 first-half result, Soul Patts increased its interim payout by 11.1% after its net cash flow from investments increased by 6.9%.

It currently has a grossed-up dividend yield of around 4%.

I like that I can own Soul Patts shares and receive dividends, meaning I don’t need to sell shares to capitalise on the growth it’s generating.

The post If I had to own only one ASX 200 share forever, this would be it appeared first on The Motley Fool Australia.

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• If I were Warren Buffett, I’d buy these 3 ASX shares

Motley Fool contributor Tristan Harrison has positions in Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks, CSL, Goodman Group, Macquarie Group, Washington H. Soul Pattinson and Company Limited, and Wesfarmers. The Motley Fool Australia has positions in and has recommended Brickworks, Macquarie Group, Washington H. Soul Pattinson and Company Limited, and Wesfarmers. The Motley Fool Australia has recommended CSL and Goodman Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Warren Buffett is one of the world’s greatest investors. Berkshire Hathaway, the business Buffett has led for decades, achieved an average annual return of 19.8% between 1965 and 2023.

Buffett is also one of the world’s most generous people with his money and advice. He plans to donate most of his huge wealth to charity. He also spends hours every year at the Berkshire Hathaway annual general meeting answering questions from shareholders and has given numerous pieces of advice over the years.

I will talk about three Buffett pearls of wisdom that I think are very relevant to today’s investment conditions.

Interest rates

Inflation remains higher than central banks would like, so interest rates may stay at this level for longer. The US Federal Reserve boss Jerome Powell said earlier in May:

We did not expect this to be a smooth road. But these [inflation readings] were higher than I think anybody expected.

What that has told us is that we’ll need to be patient and let restrictive policy do its work.

Of course, that doesn’t mean we shouldn’t invest at all. But, I believe investors should continue to assess company valuations on their merits and only buy if they think long-term returns can be solid.

Warren Buffett once explained why interest rates are so important to valuations:

The value of every business, the value of a farm, the value of an apartment house, the value of any economic asset, is 100% sensitive to interest rates because all you are doing in investing is transferring some money to somebody now in exchange for what you expect the stream of money to be, to come in over a period of time, and the higher interest rates are the less that present value is going to be. So every business by its nature…its intrinsic valuation is 100% sensitive to interest rates.

Don’t have to swing at every pitch

At a time when the share prices of many businesses are close to 52-week highs or all-time highs, I think it would be reasonable for investors to be discerning about which investments they’re buying.

Investing is not like baseball, where batters must swing at pitches sooner or later. We can take our time with investments and only buy shares at a price we like.

Warren Buffett explained how to handle investing in this situation:

The trick in investing is just to sit there and watch pitch after pitch go by and wait for the one right in your sweet spot. And if people are yelling, ‘Swing, you bum!,’ ignore them.

When the market does become fearful, that could be the time to be greedy. There doesn’t need to be a bear market to find opportunities, though; I’ve written plenty of articles recently where I see opportunities right now.

Great companies at fair prices

There is a wide range of potential ASX share investments for us to buy. Warren Buffett and Charlie Munger have been advocates of investors focusing on wonderful companies rather than average businesses. Warren Buffett said:

It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.

By choosing great businesses, I think those investments are much more likely to deliver strong metrics such as a higher return on equity (ROE) and better compounding of net profit after tax (NPAT) over the long term. Owning wonderful companies can deliver good share price (and dividend) returns over time.

The post 3 pearls of Warren Buffett wisdom I think all ASX investors need right now appeared first on The Motley Fool Australia.

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• Here are the top 10 ASX 200 shares today
• Why inflation could cost young investors 50% of their retirement savings

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Berkshire Hathaway. The Motley Fool Australia has recommended Berkshire Hathaway. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Do you have some room in your investment portfolio for a couple of ASX 200 blue chip shares?

If you do, then it could be worth considering the two blue chips listed below that have been named as best ideas by analysts at Morgans.

Here’s what the broker is saying about these high-quality companies right now:

Flight Centre Travel Group Ltd (ASX: FLT)

The first ASX 200 blue chip share that Morgans has named as a buy is Flight Centre.

It is one of the world’s largest travel groups with a vast leisure and corporate travel sales network that extends throughout four major regions. These are Australia and New Zealand, The Americas, EMEA, and Asia.

Morgans believes that it would be a great option for investors right now. Particularly given its compelling risk/reward profile. It explains:

FLT has the greatest risk, reward profile of our travel stocks under coverage. The risk is centred around execution given its changed business model, while the reward is material if FLT delivers on its 2% margin target. If achieved, this would result in material upside to consensus estimates and valuations. FLT is targeting to achieve this margin in FY25. With greater confidence in the travel recovery and the benefits of Flight Centre’s transformed business model already emerging, we think the company is well placed over coming years.

Morgans has an add rating and $27.27 price target on the company’s shares.

Washington H Soul Pattinson & Company Ltd (ASX: SOL)

Another ASX 200 blue chip share that could be a buy according to Morgans is Soul Patts. It is an investment company with a diversified portfolio of assets across a range of industries.

Morgans is very positive on the company’s investments and highlights its long track record of outperforming the market. It said:

SOL’s investment portfolio includes a diversified pool of assets ranging from listed equities (both large cap and emerging companies), private equity, property and structured yield. On a 20-year horizon, SOL’s annualised TSR is 12.5% vs the All Ords accumulation index of 9%. SOL has a 20-year history of increased dividend distributions, with a 20-year CAGR of c.8%. In our view, SOL’s management team continues to deliver both organic and inorganic growth over the long term. We continue to like the SOL story, particularly its track record of growing distributions.

The broker has an add rating and $35.60 price target on the company’s shares.

The post 2 of the best ASX 200 blue chip shares that money can buy appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Flight Centre Travel Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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

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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Idp Education. The Motley Fool Australia has recommended Bapcor and Idp Education. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

By now, all Australians would be aware of the woes that high inflation has brought upon us. After virtually disappearing as an economic concern for a decade, the post-pandemic era saw inflation rear its ugly head once more. This could have serious consequences for a generation of Australians’ retirement dreams.

The Australian economy has been suffering from some of the worst rates of inflation we’ve seen since the turn of the century since 2021. This has seen the price of almost everything rise at a rate that many Australians have never experienced.

Inflation can also be thought of as the erosion of the value of our currency. As inflation rages, the cost of everything priced in Australian dollars rises as the real value of the currency falls. This makes financial management of all aspects of life, including retirement planning, more difficult. If someone’s wages or salary doesn’t increase by at least the rate of inflation, that person’s living standards will fall.

New data from Commonwealth Bank of Australia reveals that the high inflation environment we’ve all been enduring over the past few years is hitting younger people harder than older people.

According to the CBA report, Australians of retirement age (aged over 65) don’t seem to be feeling the pains of inflation, with this age group spending above the rate of inflation over the first three months of 2024. But in stark contrast, Australians aged between 25 and 29 reduced their spending by 3.5% over the three months to 31 March compared to the same period in 2023.

This trend could have a severe impact on the retirement savings of young Australians.

Inflation eats into younger Australians’ retirement dreams

Most Australians invest with the goal of building wealth, achieving financial independence and perhaps even an early retirement.

The powers of compound interest become more potent the longer someone invests in wealth-producing assets like ASX shares. As such, getting started with investing as early as possible is essential for maximising one’s investing returns (and retirement comfort) over a lifetime.

Here’s how Visual Capitalist recently put it:

Though you should only invest money that you don’t need access to in the short term, the reality is that waiting will have consequences on your long-term gains.

For example, let’s say you started investing at 20 years old, and you invest $250 each month with an 8% annual rate of return. By the time you reach 65, over 50% of your total portfolio would have come from money that you invested in your 20s.

Someone who invests a decade later than their peer with double the amount will actually see lower returns in the long run.

By this logic, the current inflation crisis could be doing enormous damage to younger Australians’ retirement prospects.

If Australians aged between 25 and 29 are cutting their spending, we can probably assume that they are struggling to put the same money aside to invest for retirement as they might once have done as well.

So if you’re a younger Australian struggling to invest at the same rate you were in, say, 2021, right now, this is very much worth keeping in mind. It can be devilishly difficult to scrape together enough money to invest in your retirement in 2024. But this is a timely reminder that every little bit helps.

The post Why inflation could cost young investors 50% of their retirement savings appeared first on The Motley Fool Australia.

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

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

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

Brambles Ltd (ASX: BXB)

According to a note out of UBS, its analysts have retained their buy rating and $17.30 price target on this logistics solutions company’s shares. The broker highlights that Brambles has been having a reasonably underwhelming year with mixed performances being seen across regions. However, UBS is expecting things to pick up in the final quarter of FY 2024, which it believes could support a re-rating of Brambles’ shares to higher multiples. So, with its shares trading at a deep discount to industrials peers, the broker thinks that now is an opportune time for investors to snap them up. The Brambles share price is trading at $14.49 on Monday afternoon.

Coles Group Ltd (ASX: COL)

A note out of Citi reveals that its analysts have retained their buy rating and $19.00 price target on this supermarket giant’s shares. The broker has been busy making in store visits to get a better idea of how the big two supermarket operators are performing with their respective strategies. The good news for Coles’ shareholders is that Citi believes that its pricing strategy is leading the way and will result in stronger sales growth during the fourth quarter of FY 2024. This is based on its belief that Coles’ strategy is being executed better and has a stronger value perception. And while the broker likes both supermarket giants at current levels, its preference at this point is Coles. The Coles share price is fetching $16.32 on Monday.

Collins Foods Ltd (ASX: CKF)

Analysts at Morgans have retained their add rating on this quick service restaurant operator’s shares with a trimmed price target of $11.50. The broker has been busy looking over recent updates from peers. Unfortunately, these updates demonstrated moderating sales in the Australian market during the first half of 2024. In light of this, the broker has trimmed its earnings estimates ahead of the company’s full year results release next month. Nevertheless, Morgans believes that the KFC restaurant operator’s shares have been oversold and that this has created a buying opportunity for investors. The Collins Foods share price is trading at $9.48 at the time of writing.

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

More reading

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Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in Collins Foods. 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 positions in and has recommended Coles Group. The Motley Fool Australia has recommended Collins Foods. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

As most Australians (and all mortgage holders) would know, interest rates have been on a steep upward trajectory over the past two years. This has made paying the mortgage a whole lot harder, but conversely made it easier to make more money from cash investments.

Back in April of 2022, the Reserve Bank of Australia (RBA) still had the cash rate at a record low of 0.1%. But by November 2023, almost monthly increases resulted in a cash rate of 4.35% – the highest interest rates have been in more than a decade.

That’s where rates have remained ever since.

But while this steep rise has been painful for mortgagees to bear, it has also resulted in some of the best returns Aussie savers have enjoyed for a decade. Putting your cash in a savings account or a term deposit today can result in receiving an interest rate of over 5% in some cases.

That’s not a bad return on your investment. Particularly given cash investments theoretically come risk-free thanks to the Federal Government’s bank guarantee (at least for your first $250,000).

However, despite these rate hikes, I still think there is more potential to make more money from ASX dividend shares today than from cash investments

Make money from these two ASX dividend shares

There are two ASX dividend shares today that I think passive income-seeking investors should take stock of if they wish to make more money from their investments.

The first is ASX retail share Super Retail Group Ltd (ASX: SUL). Super Retail is the company behind famous Australian retail names like Peter Alexander, Smiggle, Just Jeans and JayJays.

This company has a long and lucrative history of paying fairly hefty dividends. Despite a recent share price runup, Super Retail stock is still trading on a hefty dividend yield of 5.81% right now. So already we’re ahead of the money you can expect to make from a term deposit (assuming these dividends continue into the future).

But Super Retail’s dividends also typically come with full franking credits attached. This means that this trailing dividend yield grosses up to an even more impressive 8.3% with the value of these franking credits included.

The second stock you might want to look at if you wish to make more money than what a term deposit can offer is Telstra Group Ltd (ASX: TLS).

Telstra is a famous ASX dividend share, with a long history of forking out chunky passive income. If you weren’t aware, Telstra is the largest telecommunications provider in Australia, with a clear market lead on both mobile services and fixed-line home internet connections.

Right now, Telstra shares are trading on a dividend yield of 4.96%. But with this company’s history of paying full franking credits alongside its dividends, we can assume this yield grosses-up to a happy 7.09% with those franking credits included.

Foolish takeaway

Remember, ASX shares come with a level of risk far higher than that of a cash-based investment. There is never any guarantee that a company will continue to pay out dividends at the levels it has in the past. Plus, there’s also the risk of a capital loss when you buy a share as an investment.

However, if you wish to make more money from your cash, dividend shares remain the very best alternative you can ask for.

The post Beat the bank! 2 ASX stocks worth buying to make more money than interest on savings appeared first on The Motley Fool Australia.

More reading

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• Here are the top 10 ASX 200 shares today

Motley Fool contributor Sebastian Bowen has positions in Telstra Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Super Retail Group. The Motley Fool Australia has positions in and has recommended Super Retail Group and Telstra Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The S&P/ASX 200 Index (ASX: XJO) is having a strong start to the week. In afternoon trade, the benchmark index is up 0.8% to 7,786.8 points.

Four ASX shares that are rising more than most today are listed below. Here’s why they are racing higher:

Cettire Ltd (ASX: CTT)

The Cettire share price is up 10% to $2.62. Investors have been buying this online luxury products retailer’s shares after it refuted allegations that it has fake products on its platform. The company commented: “Since commercial launch in 2017, Cettire has handled more than 2 million individual orders. There is not a single confirmed case of a non-genuine item being sold on Cettire’s platform.” Management also highlights that the negative media press has “sought to amplify the claims of parties who have openly taken short positions in Cettire shares and sought to profit from a short-term decline in the share price.”

Lendlease Group (ASX: LLC)

The Lendlease share price is up 10% to $6.47. This follows the release of a major strategy update this morning. The property developer revealed that it is aiming to simplify its global business and bring costs under control. This will see Lendlease exit its struggling international construction projects and focus on its integrated Australian real estate business with international investment management capabilities. These actions are expected to release $4.5 billion of capital from its offshore development projects and assets.

Neuren Pharmaceuticals Ltd (ASX: NEU)

The Neuren Pharmaceuticals share price is up 11% to $22.99. This has been driven by the release of a trial update. The top-line results from Neuren’s phase 2 clinical trial of NNZ-2591 in children with Pitt Hopkins syndrome (PTHS) delivered a “statistically significant improvement” across all four efficacy measures. Neuren CEO Jon Pilcher commented: “We are very excited about the results of this first clinical trial in Pitt Hopkins patients. This underserved community has such urgent unmet need and we can now continue towards our goal of developing a first approved treatment.”

Sayona Mining Ltd (ASX: SYA)

The Sayona Mining share price is up 7% to 4.5 cents. This morning, this lithium miner released the results from 94 new drillholes at its Moblan Lithium Project in Canada. Management highlights that the drilling result demonstrate the high grade nature of the highly strategic asset. Sayona’s Interim CEO, James Brown, commented: “We are delighted with the thick, high-grade drilling results at Moblan confirming it is one of the premier hard rock lithium deposits in North America. Most excitingly, it is clear there remains considerable potential for further expansion of the deposit which is open in all directions.”

The post Why Cettire, Lendlease, Neuren, and Sayona Mining shares are racing higher today appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Cettire. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. At the time of writing, the benchmark index is up 0.75% to 7,784.4 points.

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

Genetic Signatures Ltd (ASX: GSS)

The Genetic Signatures share price is down 10% to 65.5 cents. This morning, this global molecular diagnostics company announced that it is concluding the development of the EasyScreen Essentials Respiratory Detection Kit for the US market. The company made the decision based on an internal assessment of the commercial landscape. CEO Neil Gunn said: “While it is disappointing to conclude the development of a key product at this late stage, we are very mindful that any investment we make in new products must continue to be aligned with a compelling commercial opportunity.”

Retail Food Group Ltd (ASX: RFG)

The Retail Food Group share price is down almost 3% to 6.8 cents. The quick service restaurant operator released an investor update this morning and revealed that retailing macroeconomic conditions remain weak. As a result, sales are flat year to date in FY 2024. The good news is that management expects “improvement in market conditions in FY25 as tax cuts, growth in real wages and population, and the potential for rate cuts are expected to allow some consumers to ditch frugality.”

Smartpay Holdings Ltd (ASX: SMP)

The Smartpay Holdings share price is down 2.5% to $1.19. This follows the release of the New Zealand based payments company’s full year results. Smartpay reported a 24% increase in revenue to NZ$96.5 million and a 29% jump in normalised profit before tax to NZ$9.8 million. It seems that some investors were expecting an even stronger performance from the company in FY 2024.

St Barbara Ltd (ASX: SBM)

The St Barbara share price is down 17% to 23.2 cents. Investors have been hitting the sell button today after the gold miner released an update on its guidance for FY 2024. According to the release, the company’s Simberi’s gold operation has underperformed materially during the fourth quarter. This has been caused by the important Sorowar ore zone not being accessible until the next quarter, which has resulted in lower ore grades. As a result, full year production and cost guidance for FY 2024 is revised to 52,000 to 56,000 ounces (previously 60,000 to 70,000 ounces) at an all-In sustaining cost of A$3,700 to A$3,900 per ounce (previously A$3,200 to A$3,400).

The post Why Genetic Signatures, Retail Food Group, Smartpay, and St Barbara shares are tumbling today appeared first on The Motley Fool Australia.

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