The Bank of Queensland Limited (ASX: BOQ) share price was a solid performer on Tuesday.

The regional bank’s shares rose 1.5% to $8.90 following the release of a positive announcement.

This means the Bank of Queensland share price is now up 18% since the start of the year.

Why did the Bank of Queensland share price push higher?

Investors were buying the bank’s shares after it announced that it expects to reduce its collective provision by $75 million.

Management advised that this is being driven primarily by Australia’s improved economic outlook, leading to improvements in data quality relating to collateral.

The bank also advised that it continues to monitor the ongoing economic impacts resulting from COVID-19 and will assess its collective provision accordingly. This could mean further releases down the line if Australia’s economy continues its recovery.

Is it too late to invest?

One leading broker that still sees a lot of value in the Bank of Queensland share price is Goldman Sachs.

This morning the broker retained its buy rating and lifted its price target slightly to $9.85.

Based on the current Bank of Queensland share price, this implies potential upside of 10.7% over the next 12 months. And if you include dividends, this stretches to approximately 15%.

What did the broker say?

Goldman has updated its estimates to reflect the collective provision release.

It explained: “We upgrade our FY21/22E/FY23E cash EPS by +13.1%/-0.7%/+2.5%, driven by i) the A$75 mn collective provision release resulting in lower BDDs, and ii) BOQ’s better volume performance, particularly in housing.”

“We remain Buy rated on BOQ reflecting: i) continued improvements in volume momentum, particularly in housing, ii) its funding mix, which will be positively leveraged to the current funding environment, iii) potential upside risk to BOQ’s ‘broadly flat’ 2H21E sequential NIM guidance, and iv) our revised TP offering 17% [now 15%] total shareholder return over the next 12-months,” it concluded.

The post Top broker tips Bank of Queensland (ASX:BOQ) share price to charge higher appeared first on The Motley Fool Australia.

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• ASX 200 up 1%: Tech shares rise, Bank of Queensland’s provision update
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James Mickleboro does not own any shares 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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Wilson Asset Management is a popular provider of ASX-listed investment companies in Australia.

WAM Capital Limited (ASX: WAM) was its original product, then came others like WAM Leaders Ltd (ASX: WLE) and WAM Research Limited (ASX: WAX).

Unlike much of the sector, shares for Wilson’s funds are often trading at a premium to the net tangible asset (NTA) value.

So when its fund managers speak, investors listen.

In a Wilson video last week, four of its analysts sat together for a quick-fire session where they had to call buy, sell or hold for a whole bunch of ASX shares.

Here are the 6 of the stocks they declared as “buy”:

MA Financial Group Ltd (ASX: MAF)

The financial company formerly known as Moelis is a “strong buy” for equity analyst Sam Koch.

“The next Macquarie Bank!” he said.

“They can grow earnings in three ways: funds management, corporate advisory business and the new lending business… The market’s not really appreciating the earnings growth in that new lending side of things.”

MA Financial shares are up 21% this year, closing Tuesday at $5.57.

“They’ve upgraded guidance already this year, and we see further tailwinds for that business.”

Sealink Travel Group Ltd (ASX: SLK)

Equity analyst Shaun Weick said his team was bullish on Sealink.

“The pent-up demand, we think, in the tourism industry is significant… Their Transit Systems bus business, as well, has proved to be a great acquisition.”

Sealink shares are already up 39.7% this year, to close Tuesday at $9.43.

“We think the catalyst from here is really concentrated around additional contract wins — so that one’s a ‘buy’ for us.”

Genworth Mortgage Insurance Australia Ltd (ASX: GMA)

According to Weick, Genworth is the biggest player in the lenders’ mortgage insurance market in Australia.

“It’s a buy. It’s experiencing very strong tailwinds as a result of the growth in the housing market,” he said.

“It provides strong leverage to rebounding interest rates for earnings.”

Shares of Genworth are up 13.7% year-to-date, trading at $2.82 when the market closed Tuesday.

Weick said the company was in a similar position to the big banks, with excess capital built up during the COVID-19 crisis last year.

“You’re going to see significant capital reserve releases.”

Boral Limited (ASX: BLD)

Equity analyst Anna Milne rated the construction materials business as a buy.

“Management is highly incentivised to pull off the transformation program that is ongoing,” she said.

“There is a buyback in place and a lot of catalysts on the horizon in terms of divestments.”

Boral stocks have risen more than 36% this year and closed at $6.79 on Tuesday. They were as low as $3.01 in the depths of the COVID-19 market crash in March last year.

Dusk Group Ltd (ASX: DSK)

Koch rated the candle and diffuser retailer as a “strong buy”.

“We really like it here because we see multi years of earnings growth ahead of it.”

Dusk only listed on the ASX in November, and since then has seen its share price shoot up more than 111%. The stock closed Tuesday at $3.64.

“They’re a hit too with grandmas,” said Weick.

Beston Global Food Company Ltd (ASX: BFC)

Beston stocks have gone nowhere in recent years. They closed at 12 cents on Tuesday, which is the same level as it was back in early 2019.

“A bit of a controversial one. But this is a multi-year turnaround strategy, which is coming to fruition now,” said Weick.

“We think the business is really well-positioned to benefit from the lactoferrin strategy, which we think medium-term can drive significant earnings upside.”

The post Buy these 6 ASX shares, say Wilson analysts appeared first on The Motley Fool Australia.

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Tony Yoo 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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Despite the cool-off this year, many ASX growth shares still have high valuations.

For example, software maker Xero Limited (ASX: XRO) is trading at a price-to-earnings ratio of more than 1,000. That’s despite shaving 7.28% off its share price this year.

Shares for online retailer Cettire Ltd (ASX: CTT) are going for more than 200 times earnings, even though they suffered a 20% crash before a trading halt on Tuesday.

As value stocks have raged upwards, many experts have said the dip in growth shares is a golden buying opportunity. But with so many businesses still expensive, which ones do they mean?

Wilson Asset Management portfolio manager Tobias Yao has an idea.

Who wants 11 times PE ratio for a growth share?

Yao declared last week that he had found a business with tremendous growth potential, whose shares are trading at a value price.

“Lynch Group Holdings Ltd (ASX: LGL) is a recent IPO [initial public offering], but it’s actually a business that’s been around for decades,” he told a Wilson video.

“It is the number 1 floral supplier in Australia.”

Lynch Group debuted in April as a public company with already a rich 106-year history under its belt as a private business. The Lynch Group share price went for $3.60 upon listing on the ASX and was trading at $3.70 at market close on Tuesday afternoon. 

Yao reckons the market is under-recognising the medium-term growth drivers for the business, which also sells flowers in the Chinese market.

“We think there will be earnings upgrades and perhaps a couple of inorganic M&A opportunities over time.”

But the best thing right now, according to Yao, is the appealing price.

“It’s on 11 times PE,” he said.

“We think this is a growth company priced [on] a value multiple.”

Already beating prospectus forecasts

Earlier this month, the western Sydney-headquartered company released a positive performance upgrade for the current financial year.

“For the upcoming period ending 27 June 2021, Lynch anticipates reporting a bumper result. This is expected to be well up on the earnings guidance outlined in its prospectus, released in early April on the ASX,” reported The Motley Fool’s Aaron Teboneras.

“As such, net profit after tax and amortisation (NPATA) is forecast to come in between $31 million and $32 million. Originally, Lynch predicted NPATA to stand at $28.7 million.”

The post Here’s an ASX growth share priced like a value stock: analyst appeared first on The Motley Fool Australia.

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Tony Yoo owns shares of Cettire Limited and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Cettire Limited and Xero. The Motley Fool Australia owns shares of and has recommended Xero. The Motley Fool Australia has recommended Cettire 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 Australian share market is home to a number of quality companies with solid growth prospects.

Two that have been tipped to grow strongly over the long term are listed below. Here’s why analysts think investors should be buying their shares:

PointsBet Holdings Ltd (ASX: PBH)

PointsBet is a leading sports betting company with operations in the ANZ and US markets.

It has been a very impressive performer in FY 2021, delivering explosive growth in both markets. For example, during the third quarter, PointsBet reported a 236% increase in turnover to $905.2 million. This was driven by a 137% lift in Australian turnover to $423.2 million and a 431% jump in US turnover to $482 million.

The good news is that the latter is still only a fraction of its market opportunity in the enormous US market. Goldman Sachs notes that the US sports betting market is forecast to grow at a compound annual growth rate of 40% out to 2033. It estimates that it will be worth US$39 billion a year at that point.

In light of this and its belief that PointsBet is well-placed in this market, Goldman Sachs currently has a buy rating and $17.20 price target on its shares.

Temple & Webster Group Ltd (ASX: TPW)

Temple & Webster is Australia’s leading online furniture and homewares retailer. It has been growing at a strong rate over the last few years and particularly during the pandemic. This has been driven by the accelerating shift to online shopping.

And while Temple & Webster’s growth may moderate now that COVID tailwinds are easing, management remains very confident in its growth prospects. This is largely due to its strong position in a market which is still only really beginning to see sales shift online.

In order to take advantage of the shift and cement its position as the market leader, management is now investing heavily in its sales growth. And although this will come at the expense of margins, it believes the long term gains make it more than worthwhile.

One leading broker that agrees is Morgan Stanley. It is confident in this strategy and has recently put an overweight rating and $15.00 price target on its shares.

The post 2 explosive ASX growth shares rated as buys appeared first on The Motley Fool Australia.

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James Mickleboro does not own any shares mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Pointsbet Holdings Ltd and Temple & Webster Group Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd and Temple & Webster Group 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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If you’re looking for a way to overcome low interest rates, then you might want to look at the Australian share market.

This is because there are a large number of shares that pay generous dividends each year. Two such shares are listed below. Here’s what you need to know about them:

Coles Group Ltd (ASX: COL)

The first ASX dividend share to look at is Coles. It has been a very strong performer in FY 2021 thanks to solid growth from its core supermarkets business and also its other businesses such as flybuys and Liquorland.

And while the company is now cycling heightened sales from a year earlier and is likely to report a sharp slowdown in its growth in the immediate term, it looks well-placed to resume its growth again in FY 2022.

After which, its long term outlook remains very positive due to its strong market position, focus on automation, cost cutting, and long track record of same store sales growth.

Goldman Sachs is forecasting dividends per share of 62 cents in FY 2021 and 66 cents in FY 2022. Based on the current Coles share price of $16.99, this will mean fully franked yields of 3.6% and 3.9%, respectively, over the next two years.

National Storage REIT (ASX: NSR)

Another dividend share to look at is National Storage. It is one of the ANZ region’s largest self-storage operators. At present the company tailors self-storage solutions from over 200 centres.

While this might sound like a large number of centres, management still sees plenty of room to grow its footprint in the future.

In fact, it is currently in the process of raising $325 million from investors via a capital raising. These funds will be used to strengthen its balance sheet and replenish its investment capacity. If deployed successfully, this could support solid earnings and dividend growth in the coming years.

Analysts at Ord Minnett are forecasting dividends of 8.2 cents per share in FY 2021 and then 8.6 cents per share in FY 2022. Based on the latest National Storage share price of $2.05, this will mean yields of 4% and 4.2%, respectively.

The post 2 top ASX dividend shares for income investors appeared first on The Motley Fool Australia.

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James Mickleboro does not own any shares 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 COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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There are a handful of ASX dividend shares that have grown their dividend every year back to the GFC.

Indeed, a couple of businesses have actually increased their dividend going back before the GFC. Those are long-term dividend records.

Washington H. Soul Pattinson and Co Ltd (ASX: SOL)

Soul Patts is the ASX dividend share with the longest growth record.

The investment conglomerate has grown its dividend every year since 2000. It was first listed in 1903 over a century ago and it has paid a dividend every year since then.

Soul Patts has a diversified portfolio of assets to generate earnings and growth.

Listed investments include TPG Telecom Ltd (ASX: TPG), Brickworks Limited (ASX: BKW), New Hope Corporation Limited (ASX: NHC), Bki Investment Co Ltd (ASX: BKI), Milton Corporation Limited (ASX: MLT), Pengana International Equities Ltd (ASX: PIA), Pengana Capital Group Ltd (ASX: PCG), Palla Pharma Ltd (ASX: PAL), Clover Corporation Limited (ASX: CLV) and Tuas Ltd (ASX: TUA).

It also has a portfolio of unlisted businesses and assets such as resources (Round Oak), swimming schools, financial services and agriculture.

Each year, Soul Patts’ portfolio produces profit and sends cashflow in the form of dividends and distributions to the parent business. After paying for the expenses to run the company, Soul Patts can then pay out a sizeable amount of its net cashflow to shareholders as a dividend.

One of the newest investment focuses of the ASX dividend share is luxury retirement living.

At the current Soul Patts share price, it has a grossed-up dividend yield of 2.8%.

APA Group (ASX: APA)

APA is another business that has been growing its distribution for many years – more than a decade and a half.

It’s one of Australia’s largest infrastructure businesses, with a focus on energy. It owns a huge pipeline network to transport gas around the country.

APA also owns gas infrastructure like storage and energy generation. It also owns some renewable energy assets.

The ASX dividend share pays its growing distribution from the cashflow that it generates.

New projects can help unlock even more cashflow. In recent months the business has announced expansions of its gas pipeline networks.

On the east coast it just announced that it’s expanding the winter peak capacity by 25% for the delivery of gas from Queensland and the Northern Territory to southern markets for a cost of around $260 million.

In Western Australia it is going to invest up to $460 million to construct a new 580km pipeline to connect emerging gas fields in the Perth Basin to the resource rich Goldfields region, forming an interconnected WA Gas Grid.

At the current APA share price, it offers a distribution yield of 5.4%.

The post 2 ASX dividend shares with very long dividend growth records appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison owns shares of Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Clover Corporation Limited. The Motley Fool Australia owns shares of and has recommended APA Group, Brickworks, and Washington H. Soul Pattinson and Company 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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On Tuesday the S&P/ASX 200 Index (ASX: XJO) was on form again and raced higher. The benchmark index jumped 0.9% to 7,379.5 points.

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

ASX 200 expected to edge lower

The Australian share market looks set to give back some of its recent gains on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 9 points or 0.1% lower this morning. This follows a nervy night of trade on Wall Street, which saw the Dow Jones fall 0.3%, the S&P 500 drop 0.2%, and the Nasdaq tumble 0.7%.

Oil prices charge higher

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a strong day on Wednesday after oil prices charged higher again. According to Bloomberg, the WTI crude oil price is up 2% to US$72.28 a barrel and the Brent crude oil price is up 1.8% to US$74.15 a barrel. Oil prices climbed after the threat of near term supply from Iran receded.

Bank of Queensland rated as a buy

The Bank of Queensland Limited (ASX: BOQ) share price could be heading higher from here. That’s the view of analysts at Goldman Sachs, who have retained their buy rating and lifted their price target to $9.85. This follows yesterday’s $75 million collective provision release. Goldman commented: “We upgrade our FY21/22E/FY23E cash EPS by +13.1%/-0.7%/+2.5%, driven by i) the A$75 mn collective provision release resulting in lower BDDs, and ii) BOQ’s better volume performance, particularly in housing.”

Gold price softens

Gold miners Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Limited (ASX: NCM) will be on watch after the gold price softened again. According to CNBC, the spot gold price is down 0.3% to US$1,860.0 an ounce. Traders continue to sell the precious metal ahead of today’s US Federal Reserve meeting.

Iron ore price rises

BHP Group Ltd (ASX: BHP), Fortescue Metals Group Limited (ASX: FMG), and Rio Tinto Limited (ASX: RIO) shares could have a positive day after the spot iron ore price continued its ascent. According to Metal Bulletin, the spot iron ore price is up a further 0.5% to US$221.87 a tonne.

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

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James Mickleboro does not own any shares 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 S&P/ASX 200 Index (ASX: XJO) went up by 0.9% today to 7,385 points.

Here are some of the highlights from the ASX:

REA Group Limited (ASX: REA)

The REA Group share price went up 1% today after announcing an acquisition.

REA Group is buying 34% of Simpology. This is a business that aims to increase the efficiency of the mortgage application process. It provides mortgage application and e-lodgement solutions to lending and broker partners across Australia and New Zealand. Simpology’s products enable brokers to seamlessly lodge home-loan applications directly into lenders’ back-end systems. It is integrated in over 30 lenders and over 12,000 brokers.

In addition to the ASX 200 company’s March announcement on the proposed acquisition of Mortgage Choice Limited (ASX: MOC), this investment’s purpose is to further accelerate REA Group’s financial services strategy. It will provide consumers with greater choice and simplicity when navigating their home loan options. It will also deliver productivity improvements to REA’s broker network through higher quality loan submissions, resulting in less re-work, faster loan approval times and streamlined business operations.

REA Group CEO Owen Wilson said:

REA’s investment in Simpology reinforces our commitment to delivering the best end-to-end mortgage application solution for consumers, our brokers and their clients.

Nuix Ltd (ASX: NXL)

The Nuix share price rose around 4% today in response to management news.

Nuix announced that CEO Rod Vawdrey has given notice to retire from the company.

Mr Vawdrey will continue in his role while an international search by the executive recruitment outfit Russell Reynolds conducts the search for the next CEO.

Nuix Chair Jeff Bleich said:

Rod’s decision reflects his deep commitment to Nuix and love for the company. Rod has agreed to remain at least through the announcement of end of year results, and throughout the process required to find the right replacement to ensure the smoothest possible transition.

Nuix is a great company with world-leading technology, an extraordinary portfolio of clients, and an incredibly passionate and committed team of employees. We are confident that the pool of candidates will be a deep one and the board is very focused on attracting the right individual to take on the role.

Bank of Queensland Limited (ASX: BOQ)

The BOQ share price went up more than 1% in response to the bank’s loan provision update.

BOQ announced that its quarterly APRA Basel III Pillar 3 report relating to the period ending 31 May 2021 is expected to include a decrease in the collective provision of $75 million.

The lower collective provision from the ASX 200 bank is due primarily to the improved economic outlook, according to BOQ. There is a further reduction from improvements in data quality relating to collateral.

George Frazis, the BOQ managing director and CEO, said:

Today, Australia is experiencing strengthening business and consumer confidence driving our economic recovery, supported by strong housing growth, lower unemployment rates and increasing business investment.

The reduction in the collective provision during the quarter reflects this improvement in the current economic environment. We continue to prudently manage our provisions to ensure we are well covered for any potential lifetime losses arising from COVID-19.

The post ASX 200 rises, Nuix jumps, REA buys stake of Simpology appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Nuix Pty Ltd. The Motley Fool Australia has recommended Nuix Pty Ltd and REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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At the small end of the Australian share market, there are a number of companies with the potential to grow materially in the future.

Three that investors might want to get better acquainted with are listed below. Here’s what you need to know about them:

Adore Beauty Group Limited (ASX: ABY)

The first small cap to watch is Adore Beauty. It is Australia’s leading online beauty retailer. It appears well-placed for growth over the next decade thanks to its leadership position and the structural shift online for beauty sales. Analysts at UBS are positive on its outlook. The broker recently put a buy rating and $5.60 price target on its shares. This compares to the latest Adore Beauty share price of $4.42.

Audinate Group Limited (ASX: AD8)

Another small cap to watch is Audinate. It is the digital audio-visual networking technologies provider behind the Dante audio over IP networking solution. This solution is used across a number of industries and the industry leader by a significant distance. This has put Audinate in a great position to benefit from increasing demand once the pandemic passes. In fact, you only need to look at its third quarter update to see this. For the three months ended 31 March, pent up demand led to Audinate reporting its highest ever quarterly revenue. Morgan Stanley currently has an overweight rating and $10.00 price target. This compares to the latest Audinate share price of $7.79.

Pointerra Ltd (ASX: 3DP)

A final small cap to watch is Pointerra. It provides businesses with a powerful cloud-based solution for managing, visualising, analysing, and sharing massive 3D point clouds and datasets. The company’s clever platform can effortlessly extract vital information from data that would otherwise take many hours to do. Management believes that it has an enormous $500 billion market opportunity globally.

The post 3 exciting small cap ASX shares to watch this month appeared first on The Motley Fool Australia.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AUDINATEGL FPO and Pointerra Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Adore Beauty Group Limited. The Motley Fool Australia owns shares of and has recommended AUDINATEGL FPO. The Motley Fool Australia has recommended Pointerra 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 McPherson’s Ltd (ASX: MCP) share price had a doozy today. McPherson’s shares fell a nasty 15.22% today to $1.22 by the end of trading.

That came after the health and beauty company closed at $1.44 per share last week and opened at $1.22 this morning. This means the company has lost its slender gain for 2021, and the shares are now down 14.34% year to date. The company is also down 56.25% over the past 12 months.

So what went wrong today?

McPherson’s many suitors

The fall in the McPherson’s share price can probably be blamed on an ASX release to investors before market open.

In this release, McPhersons advised the takeover proposal the company received in April from Arrotex Australia Group Pty Ltd will not be going ahead.

Back in April, McPherson’s announced Arrotex had put forward a “non-binding, indicative proposal” to acquire 100% of McPherson’s shares at a price of $1.60 per share. The offer was an all-cash one.

Prior to that, McPherson’s had received a different offer, this one from Gallin Pty Ltd. Gallin put up an offer of $1.40 per share. However, the McPherson’s board advised shareholders to reject this offer.

Earlier this month, McPherson’s gave investors an update on the Arrotex proposal. It noted the following:

The Arrotex Indicative Proposal is conditional upon completion of satisfactory due diligence to be undertaken over a four-week period pertaining to accounting, financial, legal and key operational areas, and a number of other customary conditions.

Well today, here’s what McPherson’s had to say on the proposal from Arrotex:

After providing Arrotex with the agreed four-week due diligence period, the board wishes to advise that the parties have agreed to cease due diligence and Arrotex has withdrawn its indicative proposal.

So close perhaps, but no cigar.

Wedding called off

Here’s some of what McPherson’s CEO Grant Peck said on the outcome:

Following today’s announcement in respect of Arrotex, I now look forward to working with the board to continue to implement the outcomes of our operational review announced on 19 May 2021.

We have a clearly defined strategy and are focused on its execution to deliver significant value to our shareholders in the short and long term… The McPherson’s team will continue to focus its attention on delivering our health, wellness and beauty strategy.

At today’s closing share price, McPherson’s has a market capitalisation of $156.75 million, a price-to-earnings (P/E) ratio of 92.04 and a trailing dividend yield of 8.57%.

The post The McPherson’s (ASX:MCP) share price fell 15% today. What happened? appeared first on The Motley Fool Australia.

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• Why Austal, Cettire, Leigh Creek Energy, & McPherson’s are sinking today

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

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