The Suncorp Group Ltd (ASX: SUN) share price opened lower today and is currently down 1.26% at $11.73.

Other ASX financial shares are mostly in the red this morning as well. The benchmark S&P/ASX 200 Index (ASX: XJO) is down 0.47%.

One expert reckons ASX insurance shares are “extremely cheap” and is backing Suncorp ahead of the rest.

Why is the Suncorp share price cheap?

Paul Taylor, the portfolio manager for Fidelity’s Australian Equities Fund, says insurance is “by far” one of the cheapest sectors in the market today, alongside ASX energy shares and materials shares.

He points out that insurers are raising their premiums in today’s inflationary environment.

Taylor said:

The insurance sector is… extremely cheap and with premiums on the rise, we believe the general insurance sector is well positioned for growth.

The Fund has significant over-weight positions in… Suncorp.

The Suncorp business is changing

Taylor says his team has been “recession-proofing” their fund by structuring it into these areas.

They are essential goods and services, cheap sectors, and self-help businesses (i.e., those that can, or are, making positive pivots to adapt to today’s economy and/or strengthen their position).

Taylor reckons Suncorp shares are not only cheap but also that the company is in self-help mode, given it is trying to sell its banking business to Australia and New Zealand Banking Group Ltd (ASX: ANZ).

Taylor explains:

Suncorp has been simplifying its business and, with the sale of the bank, will become a very focused general insurance business.

This greater business focus should bring considerably improved valuation metrics.

Suncorp is currently seeking government approval for the $4.9 billion takeover deal.

As fellow Fool Brooke reported last month, Suncorp and ANZ are hoping to complete the deal in the second half of 2023.

Suncorp plans to return most of the expected $3.21 per share profit to its shareholders.  

Suncorp share price snapshot

Brooke also reports that insiders have been taking advantage of the fallen Suncorp share price.

Last month, two company directors bought a combined $320,000 worth of shares. At the time, the Suncorp share price was in the $10 range.

Their new holdings are already up by more than 10%.

The Suncorp share price is up 12.5% over the past month and up 2.2% in the year to date.

By comparison, the ASX 200 is up 6.65% over the past month and down 6.35% in 2022 so far.

The post Could this top ASX 100 share be the best of an ‘extremely cheap’ sector? appeared first on The Motley Fool Australia.

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More reading

• Are ANZ shares really on track to offer a 7% dividend yield?
• ASX 200 bank shares: fundie picks winners and losers of the big four
• Could the flurry of recent takeover bids mean ASX 200 shares are going cheap right now?
• Here’s why the ANZ share price could be a good value pick for dividends
• Top brokers name 3 ASX shares to buy next week

Motley Fool contributor Bronwyn Allen has positions in Australia & New Zealand Banking Group 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 has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Australia and New Zealand Banking Group Ltd (ASX: ANZ) shares already boast the highest dividend yield of the S&P/ASX 200 Index (ASX: XJO) big four banking stocks.

And it could be set to grow its offerings, according to top brokers. Indeed, one tips the smallest big four bank to grow its dividends by 20% in coming years.

Right now, the ANZ share price is $24.09.

Let’s take a closer look at what experts believe the future could hold for the banking share and its dividends.

Could ANZ shares offer a 7% dividend yield in FY24?

The ANZ share price could be in for a good run in coming years, as could the banking stock’s dividends, if these experts are to be believed.

Two top brokers have responded well to the bank’s recent full-year earnings.

ANZ posted a $7.1 billion profit and $6.5 million of cash earnings from continuing operations for financial year 2022 in late October. Excitingly, it also revealed an exit net interest margin (NIM) of 1.8%.

Citi said such a NIM is “likely to drive material consensus revenue upgrades, and we think the street upgrades core earnings”, as my Fool colleague James reports. Meanwhile, Goldman Sachs said:

Today’s result suggested that while ANZ’s NIM is likely to peak at higher levels than we previously forecast, this peak is also likely to come through earlier.

ANZ also offered investors a 74 cent per share final dividend, lifting its full-year offerings to $1.46 per share. That leaves the stock trading with a 6% dividend yield at the time of writing.

And that could be gearing up to grow. Citi tips ANZ to pay out $1.66 per share in financial year 2023 and $1.76 per share in financial year 2024.

At its current share price, a $1.76 full-year offering would see ANZ shares trading with a 7.3% dividend yield.

However, the broker also has a $29.25 price target on the stock. At such a level, $1.76 in dividends would see ANZ trading with a 6% yield.

The post Are ANZ shares really on track to offer a 7% dividend yield? appeared first on The Motley Fool Australia.

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More reading

• Could this top ASX 100 share be the best of an ‘extremely cheap’ sector?
• ASX 200 bank shares: fundie picks winners and losers of the big four
• Could the flurry of recent takeover bids mean ASX 200 shares are going cheap right now?
• Here’s why the ANZ share price could be a good value pick for dividends
• ASX 200 bank shares: Buy, hold, or fold?

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Core Lithium Ltd (ASX: CXO) shares have been among the top performers over the past 12 months, rocketing 172%.

That’s across a period where the S&P/ASX 200 Index (ASX: XJO) lost 4%, mind you.

So, you’re unlikely to fund any longer-term shareholders complaining.

But are there headwinds brewing for this leading ASX lithium stock?

Are Core Lithium shares suddenly on the nose?

In late morning trade, Core Lithium shares are down 4.3% at $1.50.

This follows a horror day yesterday, which saw the miner close down 15.8%. That, in turn, followed a stellar run higher on Monday, where the share price gained a whopping 11.7%.

It appears investors are trying to sort out the near-term trajectory of this top ASX lithium stock alongside the wider outlook for lithium prices heading into 2023.

Those same uncertainties saw US lithium giant Albemarle Corporation (NYSE: ALB) close down 6.5% overnight while rival Livent Corp (NYSE: LTHM) dropped 6.8%.

What is the outlook for lithium prices?

Core Lithium shares have been a clear beneficiary of rocketing lithium prices amid the global EV boom that’s driven a sharp increase in demand for the battery-critical metal.

Much of that demand comes from China, a world leader in EV production.

And China happens to be where some of the big uncertainty is coming from. Uncertainty that looks to be roiling the Core Lithium share price this week.

Yesterday, The Australian Financial Review cited Credit Suisse analyst Saul Kavonic, who pointed to a potential decrease in lithium demand from China as driving a 7% fall in lithium carbonate futures on the Wuxi Stainless Steel Exchange.

Kavonic said there was “speculation in China that a major cathode producer might have slashed production targets and some Chinese firms forecasting softening in the market later in 2023”.

As for where the lithium price is heading next and what type of headwinds or tailwinds Core Lithium shares can expect, that depends on who you ask.

What do the experts say?

Goldman Sachs remains rather bearish on its outlook.

According to Aditi Rai, global commodities strategist at Goldman (courtesy of the AFR):

With downstream overcapacity and slowing EV sales likely to become increasingly apparent over the course of next year, we expect downward pressure on the lithium price to build on surplus cues, particularly from the second half of 2023 onward.

Macquarie has a decidedly more bullish take.

The broker noted that lithium carbonate futures on the Wuxi Stainless Steel Exchange have gained 1.5% since the prior day’s selloff and expects prices to remain “buoyant”.

“Despite near-term future price volatility, we believe buoyant lithium prices present potential for valuation upside to all lithium names under our coverage universe,” Macquarie analysts said.

Although downtrading Core Lithium shares to a neutral rating yesterday, Macquarie has a price target of $1.80 for the stock. That’s 20% above the current share price.

The post Are Core Lithium shares suddenly on the nose? appeared first on The Motley Fool Australia.

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More reading

• The future of ASX lithium shares: Are investors looking through rose-coloured glasses?
• Why Allkem, Core Lithium, Flight Centre, and NAB shares are dropping today
• Here are the 3 most traded ASX 200 shares on Tuesday
• Why are ASX 200 lithium shares hitting the dirt on Tuesday?
• Why is the Core Lithium share price falling 12% on Tuesday?

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

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The OZ Minerals Limited (ASX: OZL) share price has been paused on Wednesday.

This follows a request for a trading halt from the copper miner prior to the market open this morning.

Why is the OZ Minerals share price paused?

OZ Minerals requested a trading halt this morning for the following reason:

In accordance with ASX Listing Rule 17.1, the Company requests the trading halt pending an announcement by the Company in relation to a potential change of control transaction.

The copper miner has requested that its shares remain halted until the earlier of the commencement of trade on Friday or the release of an announcement.

What’s going on?

As readers may be aware, back in August, BHP Group Ltd (ASX: BHP) made a $25.00 per share offer to acquire OZ Minerals.

Despite this being a 32% premium to the OZ Minerals share price at the time, it wasn’t enough for the miner’s board.

With the assistance of its financial and legal advisers, the board unanimously determined that the indicative proposal significantly undervalued OZ Minerals and was not in the best interests of shareholders.

OZ Minerals CEO, Andrew Coles, also highlighted that the company has “a unique set of copper and nickel assets, all with strong long-term growth potential in quality locations.” Coles further noted that these minerals “are in strong demand particularly for the global electrification and decarbonisation thematic” and that the proposal failed to sufficiently recognise these attributes.

What’s the latest?

While nothing has been confirmed from either party, the rumour on the street is that BHP has returned with an improved offer in the high $20s.

This compares to the current OZ Minerals share price of $26.30.

Whether this will be enough to get due diligence access, we’ll find out in the coming days. Though, it is worth noting that some analysts have previously stated that an offer closer to $40.00 may be required to get a deal over the line.

The post OZ Minerals share price halted amid possible new BHP takeover bid appeared first on The Motley Fool Australia.

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• 2 ASX dividend giants to buy now: brokers
• How I’d aim to generate a growing passive income from dividend shares
• Why are ASX 200 mining shares going nuts on Monday?
• Why is the BHP share price having such a ripper day?
• Are ASX share investors getting their mojo back?

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

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If you’re hoping to bag the next dividend from Westpac Banking Corp (ASX: WBC) shares, there’s no time to waste. Westpac, along with the other ASX big four bank shares, is famous for its dividends. It is one of the largest and most widely-held ASX shares on the market, perhaps for this reason.   

But Westpac has had some hiccups when it comes to its dividend payments in recent years. For one, it was the only ASX bank to skip a dividend entirely during the COVID crash of 2020.

But all that is in the rearview mirror now, and Westpac has been building back its dividend with a vengeance.

Its latest payout, the final dividend for FY2022, is due to hit investors’ bank accounts on 20 December next month. It will be a payment worth 64 cents per share, fully franked. That represents a healthy rise from last year’s final dividend of 60 cents per share, as well as the interim dividend of 61 cents per share that investors received in June.

In fact, it will be Westpac’s largest post-COVID dividend since the December 2019 payment of 80 cents per share.

Want Westpac’s latest dividend? Better get in quick

But if investors wish to net themselves this dividend payment, they will have to be quick. That’s because Westpac is due to trade ex-dividend for this payment tomorrow. When a company goes ex-dividend, it effectively means that any new investors from that date are not eligible to receive the dividend payment in question.  

This means that Westpac shares bought today will come with an entitlement to next month’s dividend cheque. Those bought tomorrow will not.

So we can expect a sizeable drop in the Westpac share price tomorrow reflecting this loss of value for new investors. Shareholders will then have until 21 November to decide if they wish to participate in Westpac’s dividend reinvestment plan (DRP) and receive additional shares in lieu of a cash payment.

This payment will give Westpac shares a dividend yield of 5.24% at the time of payment, based on the current (at the time of writing) Westpac share price of $23.88.

The post Hoping to bag the latest Westpac dividend payment? Here’s what you need to know appeared first on The Motley Fool Australia.

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• 2 ASX dividend giants to buy now: brokers
• ASX 200 bank shares: fundie picks winners and losers of the big four
• 3 reasons the Westpac share price is great value: Goldman Sachs
• 4 ASX 200 shares trading ex-dividend next week
• 5 of the craziest things making news on the ASX 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 recommended Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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This year has been astronomical for ASX lithium shares as many market watchers seemingly hope surging demand will continue to bolster the price of the battery-making material sky-high.

Despite posting notable tumbles yesterday, the share prices of some of the market’s favourite lithium stocks have rocketed in 2022. Take a look:

• Core Lithium Ltd (ASX: CXO) shares have soared 149% this year
• Those of Pilbara Minerals Ltd (ASX: PLS) have jumped 37%
• Stock in Allkem Ltd (ASX: AKE) has gained 27% year to date
• That of Sayona Mining Ltd (ASX: SYA) has jumped 68%
• Finally, the Liontown Resources Ltd (ASX: LTR) share price has lifted 17%

But a few wary voices are warning investors the lithium train’s meteoric gains might not continue as others predict. Could those invested in ASX lithium shares be looking through rose-coloured glasses?

Are fans of ASX lithium shares wearing rose-coloured glasses?

The seemingly continuous hype surrounding lithium might be clouding the real challenges in the material’s supply, according to Schroders head of Australian equities Martin Conlon. He points to two factors with the potential to weigh on the sector.

First, mining lithium is a carbon-intensive activity. Lithium is hard to come by in large quantities. As a result, a lot more mining has to happen to produce lithium than, say, iron ore.

That means electric vehicles might only reach true carbon neutrality after 100,000 kilometres on the road. Which leads to Conlon’s second point.

Policies designed to push uptake of electric vehicles faster than miners can produce lithium “risk being counter-productive”, he says. Conlon continues:

Stratospheric [lithium] prices are vastly higher than needed to incentivise new supply and are therefore difficult to rationalise on any fundamental basis.

Nevertheless, if governments insist on attempting to create additional (often artificial) demand assisted by subsidies to appease the voracious appetite for rapid climate action, there is an obvious possibility large amounts of global taxpayer money will be transferred to ‘green metal’ producers.

The wager in purchasing lithium and many other battery material exposures at present is firmly in the hands of ongoing ill-considered government intervention.

Could yesterday’s tumble be just the beginning?

Meanwhile, ASX lithium shares had a disastrous day on the market on Tuesday.

Of course, their tumbles might have had something to do with profit-taking. Word China will ease certain COVID-19 restrictions sent materials stocks soaring on Monday, boosting shares in some lithium favourites as much as 11.7%. Such gains might have proven too tempting for some investors.

Though, there may have been more to yesterday’s suffering than initially met the eye.

It might have been spurred by bearish sentiment from Goldman Sachs.

The broker believes demand for lithium will continue this year. However, it expects the market to slip into surplus from the second half of 2023, as The Motley Fool reports. Analysts reportedly forecast that lithium supply could be 40,000 tonnes greater than annual demand by 2025. That would likely be dire for ASX lithium shares’ balance sheets.

Additionally, according to Credit Suisse analyst Saul Kavonic, courtesy of the Australian Financial Review, the plunge might have been driven by falling lithium carbonate futures on the Wuxi Stainless Steel Exchange. Kavonic reportedly said the fall came amid news:

[A] major cathode producer might have slashed production targets and some Chinese firms [are] forecasting softening in the market later in 2023.

Still, plenty of brokers remain bullish on lithium. Macquarie, for one, recently tipped spodumene prices to reach US$6,500 a tonne.

The post The future of ASX lithium shares: Are investors looking through rose-coloured glasses? appeared first on The Motley Fool Australia.

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More reading

• Pilbara Minerals share price higher on maiden dividend news
• Why Allkem, Core Lithium, Flight Centre, and NAB shares are dropping today
• Here are the 3 most traded ASX 200 shares on Tuesday
• Why are ASX 200 lithium shares hitting the dirt on Tuesday?
• Why is the Pilbara Minerals share price tumbling 10% on Tuesday?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Schroders (Voting). The Motley Fool Australia has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Those invested in Nufarm Ltd (ASX: NUF) shares are likely having a good morning after the S&P/ASX 200 Index (ASX: XJO) crop protection and seed technology company upped its final dividend by 50%.

That leaves its financial year 2022 (FY22) full-year dividends 150% higher year-on-year at 10 cents per share.

The stock opened with a 1.2% lift that saw it trading at $5.60 before soaring to a current high of $5.93.

Right now, the Nufarm share price has eased slightly to trade at $5.89, marking an 8.67% increase.

ASX 200 share soars alongside its dividends

Here are the key takeaways from the ASX 200 company’s full-year earnings:

• Underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 24% year-on-year to $447 million
• Revenue rose 17% to $3.8 billion
• Statutory net profit after tax (NPAT) soared 65% to $107.4 million
• Unfranked final dividend of 6 cents – up 50% on financial year 2021’s 4-cent final dividend

Nufarm’s final dividend, combined with the 4-cent interim dividend it announced in May – its first interim dividend since 2018 – saw it offering 10 cents per share over FY22.

The company’s underlying NPAT also more than doubled last fiscal year – reaching $133.2 million.

It ended FY22 with $346 million of net debt and $863 million of net working capital.

What else happened in FY22?

Let’s take a closer look at the results driving the ASX 200 share higher on Wednesday.

Nufarm’s APAC segment posted. a 21% increase in underlying EBITDA, coming in at $135 million despite battling supply chain challenges in FY22.

Its North America business did even better. Its underlying EBITDA rose 42% to $148 million amid higher sale prices and strong demand for crop protection products.

Looking to Nufarm’s European business, underlying EBITDA remained steady at $171 million as sales improved and regulatory headwinds took their toll.

Finally, the company’s Seed Technologies business saw its underlying EBITDA lift 26% to $59 million. That was driven by demand for Nuseed’s hybrid canola varieties, sorghum, and sunflower.

What did management say?

Nufarm managing director and CEO Greg Hunt commented on the company’s full-year earnings, saying:

This result reflects the hard work we have done over recent years to reset the business, our focus on core products and key geographies together with our increased investment in innovation and sustainability.

Favourable seasonal conditions and attractive soft commodity prices generated strong demand for our seeds and crop protection products. Our seeds business continued to increase earnings as a result of strategic investments in innovative technologies.

We made significant progress on all our strategic growth initiatives across omega-3, bioenergy, seeds and crop protection; and we have a promising pipeline of opportunities.

What’s next?

Nufarm didn’t provide any solid FY23 earnings guidance today. Though, Hunt did reveal that “assuming normal seasonal conditions”, the ASX 200 share expects to post modest underlying EBITDA growth this fiscal year. So far, conditions have remained favourable.

Looking further forward, however, the company is on track to grow its revenue to more than $4.6 billion in FY26. Hunt said:

Our revenue growth aspirations are supported by macro trends including the increasing demand for food from a rising global population, and the demand for sustainable agricultural practices to increase land productivity.

Nufarm share price outperforms ASX 200 in 2022

Today’s gain included, the Nufarm share price has lifted 20% year to date. It’s also trading for 17% more than it was this time last year.

For comparison, the index has fallen 6% in 2022 and 4% over the last 12 months.

The post Guess which ASX 200 share just upped its full-year dividend by 150% appeared first on The Motley Fool Australia.

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More reading

• Why Accent, Block, Nufarm, and Zip shares are racing higher
• Here are the top 10 ASX 200 shares today

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 Scott Phillips.

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The Pilbara Minerals Ltd (ASX: PLS) share price is recovering from a savage selloff on Tuesday.

In morning trade, the lithium miner’s shares are up 1% to $4.91.

Why is the Pilbara Minerals share price rising?

Investors have been bidding the Pilbara Minerals share price higher today after the company unveiled its capital management framework.

With Pilbara Minerals generating significant free cash flow from its operations, it is now in a position to start thinking about capital management.

Pleasingly for shareholders, this means that dividends are expected to be paid from FY 2023, with management aiming to pay out 20% to 30% of its free cash flow to shareholders.

It notes that this leaves it with enough free cash flow to maintain safe and reliable operations, as well as support growth and productivity initiatives.

Management commentary

Pilbara Minerals’ managing director and CEO, Dale Henderson, was pleased the company was in a position to pay a dividend so early in its operational life. He commented:

The strong dynamics we are experiencing for the lithium materials market and healthy production profile have quickly transformed the financial position of the business. With this comes the opportunity to bolster the growth path for the business and provide improved long-term value return for our shareholders – many of whom have stayed the course through both our ups and downs.

With strong cashflows being generated, it is pleasing to be in a position to seek to return value to our shareholders so early in our operational life via a maiden fully franked dividend for the 2023 Financial Year.

The established operating platform, expansion pathway and downstream participation opportunities place Pilbara Minerals in an enviable position to capitalise on the emerging demand for lithium materials. I am excited about what the future holds for the business, the opportunities this will bring to our stakeholders and all those who are connected with the business.

The post Pilbara Minerals share price higher on maiden dividend news appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most traded ASX 200 shares on Tuesday
• Why are ASX 200 lithium shares hitting the dirt on Tuesday?
• Why is the Pilbara Minerals share price tumbling 10% on Tuesday?
• Why did ASX lithium shares have a dream run on Monday?
• Leading brokers name 3 ASX shares to buy today

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

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The Aristocrat Leisure Limited (ASX: ALL) share price is down 7% in early trade.

Shares in the S&P/ASX 200 Index (ASX: XJO) gaming technology company closed yesterday trading for $37.88 and are currently changing hands for $35.24 apiece.

This comes following the release of Aristocrat’s financial results for the 12 months ending 30 September.

Here are the highlights.

Aristocrat share price slides as profits soar

• Revenue of $5.57 billion, up 17.7% year on year
• Normalised earnings before interest, taxes, depreciation and amortisation (EBITDA) of $1.85 billion, an increase of 20% from the prior year
• Normalised profit after tax and before amortisation of acquired intangibles (NPATA) of $1.10 billion, up 27% in reported terms and 20% in constant currency
• Total dividends of 52 cents per share, fully franked, an increase of 26.8% from the prior corresponding 12 months

What else happened over the 12 months?

The Aristocrat share price failed to receive a lift this morning from the company’s strong balance sheet. As at 30 September the company had a net cash position of $564 million and liquidity of $3.8 billion.

Aristocrat reported that its Gaming and Pixel United assets continued to grow and diversify over the 12 months, driven by “exceptional performance” in North American Gaming Operations and global Outright Sales.

Its Americas margin expanded by 2.7% to 56.1%. This was achieved despite headwinds from supply chain disruptions and mixed operating conditions across its core markets.

On the downside, and possibly pressuring the Aristocrat share price today, overall mobile bookings at its Pixel United segment “moderated” from their post-COVID levels in the prior reporting year.

The company’s Ukrainian operations were impacted by Russia’s invasion, with Aristocrat assisting most of its Ukrainian workforce to relocate to safer places.

What did management say?

Commenting on the results, CEO Trevor Croker said:

Aristocrat’s performance underlines the ongoing implementation of our growth strategy. Throughout the year, we continued to invest in competitive product portfolios to drive further share growth across key segments, greater operational diversification and deeper business capability…

As we look ahead, we believe that Aristocrat’s outstanding product portfolios, growing operational resilience and capability, along with a highly engaged team and strong culture, positions us well to maintain our momentum despite uncertain conditions.

It may be that these “uncertain conditions” are spooking ASX 200 investors this morning and pressuring the Aristocrat share price.

What’s next?

The company reported it expects to deliver NPATA growth over the full year to 30 September 2023.

Aristocrat said it will continue to seek opportunities for future growth, including markets in Poland, Spain and Canada, as well as bringing forward additional game development capabilities.

Looking ahead, the company expects continued “strong revenue and profit growth” from its Aristocrat Gaming segment.

Potentially dragging on the Aristocrat share price is the expectation of continuing lower growth in bookings and profit from Pixel United, compared to recent years.

Aristocrat share price snapshot

With today’s intraday fall factored in, the Aristocrat share price is down 22% year to date. That compares to a calendar year loss of 6% posted by the ASX 200.

The post Aristocrat share price dives despite 27% profit boost appeared first on The Motley Fool Australia.

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More reading

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

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

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

What happened

A cooler-than-expected Producer Price Index (PPI) report is sending stocks higher today, but that’s probably not the only reason Tesla (NASDAQ: TSLA) stock crossed the $200-per-share threshold this morning. As of 10:35 a.m. ET, Tesla shares were trading near the highs of the morning, up 4.7%.

So what

After hitting a nearly two-year low earlier this week, Tesla has bounced from about $177 to back above $200 per share today. The recent decline came as CEO Elon Musk has been busy focusing on running Twitter as a private company. It seems investors were correct in thinking Musk’s new role at Twitter could be affecting his other work. Yesterday, Musk addressed a business conference taking place along with the G20 summit in Indonesia, stating, “I have too much work on my plate that is for sure,” according to Reuters.

But that admission may have investors thinking Musk will not let his workload affect Tesla’s business. And an upcoming investor event marking the official launch of the Tesla Semi truck is further evidence Tesla’s remarkable growth continues unabated.

Now what

Martin Viecha, Tesla’s head of investor relations, confirmed the company would be holding a shareholder event on Dec. 1 when the first Tesla Semi electric truck is scheduled for delivery, according to EV industry site Electrek.

Musk previously announced the first Tesla Semi would be delivered to PepsiCo on the first day of December. But investors might be putting money back into the stock today after its recent decline partly due to the upcoming event.

By marking the occasion with a dedicated affair, it’s also possible that the widely followed company will provide a surprise announcement. That’s certainly no reason to buy a stock, but the fact that Tesla’s business continues to grow could be one reason for today’s bounce.   

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

The post Here’s what drove Tesla shares back above $200 today appeared first on The Motley Fool Australia.

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More reading

• Why is Tesla stock falling today?
• Why Tesla shares jumped today
• Why Tesla stock is tumbling today
• Why did Elon Musk just sell $6 billion worth of Tesla shares?
• Why Tesla hit a new 52-week low today

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

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

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