The Qantas Airways Limited (ASX: QAN) share price is trading lower with the market on Friday.

In afternoon trade, the airline operator’s shares are down 2% to $4.99.

Is the weakness in the Qantas share price a buying opportunity?

According to analysts at Goldman Sachs, investors should consider today’s weakness in the Qantas share price as a buying opportunity.

A note out of the investment bank this morning reveals that its analysts have retained their buy rating but trimmed their price target to $6.38. This follows the release of its half year results on Thursday.

Based on the current Qantas share price, this price target implies potential upside of almost 28% for its shares over the next 12 months.

What did Goldman Sachs say?

While Goldman Sachs acknowledges that COVID-19 disruptions are not necessarily over, it is becoming increasingly positive due to vaccine rollouts.

In fact, the broker believes Qantas is one of the best placed companies under its coverage to benefit materially from the rollout. It explained:

“We reiterate our Buy rating on Qantas (QAN.AX) with our revised 12-month Target Price of A$6.38 presenting 25% upside from current levels. QAN has been significantly disrupted by the repeated closure of domestic borders over the past 12 months in reaction to localised outbreaks across all states. With the increasing prevalence of newer more infectious strains of the COVID-19 virus, we can’t rule out an ongoing dynamic of unpredictable and reactionary border closures. With c.80% of pre-covid (FY19) earnings coming from its domestic-oriented and loyalty businesses, QAN has and continues to be materially operationally and financially affected by this dynamic, and as such is one of the best placed stocks in our coverage to benefit materially from the Australian COVID-19 Vaccination program as it rolls out across the country this week.”

Goldman Sachs also notes that the company is aiming to increase domestic capacity to 80% of pre-COVID levels in the fourth quarter of FY 2021. Its analysts feel this is possible due to what they have seen over in New Zealand.

“QAN continues to prepare its business for a broad based re-start of domestic activity, and has planned to increase domestic capacity in 3Q21 to 60%, and 4Q21 to 80% of pre-covid levels, suggesting a very rapid recovery in overall domestic volumes for QAN on a re-opening. On today’s analyst call QAN highlighted that it was gaining share from rivals at both the premium and discount ends of the market, and that this had underpinned the strong demand they were witnessing leading into the April holiday period. Qantas Domestic is expecting demand at 80% of pre-covid levels and Jetstar expecting closer to 100% of pre-covid levels. These rates of market recovery are consistent with those seen in NZ following its lockdowns in CY20.”

More reading

• Air New Zealand (ASX:AIZ) share price flies after earnings devastated
• Qantas (ASX:QAN) share price on watch after $1.1 billion loss
• Why did Qantas (ASX:QAN) shares soar 4% on Tuesday?
• Can ASX travel shares stage a comeback?
• Share prices of travel shares soar, Corporate Travel (ASX:CTD) and Webjet (ASX:WEB) report

Motley Fool contributor James Mickleboro 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.

The post Is the Qantas (ASX:QAN) share price great value? appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/2PhsGrP

Despite nearly doubling this year, Zip Co Ltd (ASX: Z1P) shares have taken a beating in the last two weeks. As the trading week draws to an end, the Zip share price is sitting on falls of more than 26% since the market’s close on Tuesday last week. 

So what’s going on?

Why is the Zip share price so volatile this week? 

The Zip share price has slumped by more than 18% this week alone despite the company reporting strong levels of growth across the board in its FY21 half-year result. 

Results aside, the broader market could be the one to blame for the weakness in the Zip share price. 

This week, rising bond yields have taken centre stage as higher yields signal higher borrowing costs and inflation.

Higher borrowing costs could impact businesses and economic growth. Meanwhile, higher yields can put pressure on interest-sensitive sectors of the share market including  S&P/ASX 200 Index (ASX: XJO) tech shares. Elsewhere, cyclical sectors that typically generate strong cash flows such as financials, real estate, materials and utilities tend to perform better under higher interest rates. 

We are also seeing the impacts of rising bond yields play out in the United States. The tech-heavy Nasdaq Composite (NASDAQ: .IXIC) has slumped 5% this week while the S&P 500 Index (SP: .INX) is flat and the Dow Jones Industrial Average Index (DJX: .DJI) is down 2%. 

Its not just the Zip share price 

The Zip share price is not alone in its recent slump. Its buy now, pay later (BNPL) peers have also stumbled by similar amounts. 

The Afterpay Ltd (ASX: APT) share price is currently down by more than 22% this week after hitting a record high of $160.05 last week. 

The Sezzle Inc (ASX: SZL) share price is also down around 19% after the company announced record growth for CY20 and strong positive trends continuing in the new year. 

Elsewhere, the likes of Openpay Group Ltd (ASX: OPY), Laybuy Holdings Ltd (ASX: LBY), Splitit Ltd (ASX: SPT) and Humm Group Ltd (ASX: HUM) are all down between 5% and 20% this week. 

The S&P/ASX Information Technology Index (ASX: XIJ) has also fallen 13% this week, compared to the approximate 1.4% drop for the ASX 200. 

Market awaiting US listing rumours

Speculation that management was exploring a dual listing in the US caused the Zip share price to surge by around 20% on 8 February. 

The company’s FY21 half-year results did not provide any update on funding or dual listing rumours. 

More reading

• Here’s why the Sezzle (ASX:SZL) share price is down 10% today
• Up 35% in February, can the Sezzle (ASX:SZL) share price go higher?
• Sezzle (ASX:SZL) share price tumbles despite new agreement
• Why is the Splitit (ASX:SPT) share price underperforming Afterpay and Zip?
• Why the Sezzle (ASX:SZL) share price is charging 7% higher today

Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Sezzle Inc. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Humm Group Limited and Sezzle Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post The Zip (ASX: Z1P) share price has slumped 26% in 8 days appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3kqROrs

The Ava Risk Group Ltd (ASX: AVA) share price has been edging higher for most of the day as the company announced its half-year results for the period ending 31 December.

But after opening at 58 cents this morning, shares in the infotech company are right back where they started at market close yesterday, now trading at 56 cents.

Let’s take a closer look at the company’s results.

How did Ava Risk perform?

In the first half of FY21, Ava Risk saw substantial increases across various key metrics.

The risk management services and technologies provider grew its ordinary activities revenue by 72% to $35.159 million. This was aided by the company’s services division which saw revenue increase by $9.243 million.

Moreover, perimeter security and access control contributed an additional $5.470m of sales revenue. Ava Risk reported substantial revenues from its Indian Defence contract and the Australian Department of Defence, despite COVID-19 delays.

The company’s sales orders backlog has fallen significantly, down from $16.7 million in HY20 to $3.4 million as of December 31, 2020.

Regarding the company’s margin, Ava Risk boasted an improved gross margin of 57%, up from 49% in the prior corresponding quarter (pcp). This was aided by improved margins in the technology division driven by the Indian contract deal.

For the half, operating expenses excluding depreciation, amortisation and interest were $8.637 million. As a result, the company made a net profit of $11.03 million.

As such, Ava Risk holds net assets of $34.075 million with no external debts or borrowings.

About the Ava Risk share price

Ava Risk offers a range of solutions, including intrusion detection for perimeters, pipelines and data networks, biometric and card access control, as well as the secure international logistics and storage of high-value assets. Based in Victoria, the tech company has a market capitalisation of $135 million.

Ava Risk has declared a special dividend of 2 cents per share, to be paid on 10 March.

The Ava Risk Share price has performed well over the last six months, gaining 150%.

More reading

• Is this why the Future First (ASX:FFT) share price is blasting 27% today?
• Here’s why the Ava Risk (ASX:AVA) share price is surging today
• Here’s why the Ava Risk (ASX:AVA) share price shot up 11% today

Motley Fool contributor Daniel Ewing 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.

The post What’s with the Ava Risk (ASX:AVA) share price today? appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/37QHl3p

The SportsHero Ltd (ASX: SHO) share price is on the up today after the company posted its results for the FY21 half-year. Shares are trading 5.41% higher compared to yesterday’s close. At the time of writing, the SportsHero share price is sitting at 3.9 cents per share.

Let’s take a closer look at why its shares are rising today and what was released.

What’s impacting the SportsHero share price?

Despite posting losses for the six-month period ending 31 December 2020, the social competition platform’s shares are rising. Notably, the loss of US$775,000 is lower than the US$916,000 of the prior corresponding period (pcp).

While sales income was still minimal (only US$7,757 compared to nothing in the pcp), expenses were down on the pcp.

A stronger Australian dollar saved the company around US$50,000 and employee expenses were reduced by US$116,000 on the pcp. A US$104,000 saving in net loss of joint venture (accounted for using the equity method) from the pcp was counteracted by a US$160,000 increase in share-based payments compared to the pcp.

In further good news for investors, the earnings per share (EPS) loss dropped from 0.31 cents per share in the pcp to 0.21 cents per share.

No dividend was paid for the FY21 half-year.

Main takeaways from the report

• OlahBola, an app covering international football for the Indonesian market was launched in July 2020.
• Mint Capital Advisors injected $5 million into SportsHero in the form of a financing facility. SportsHero issued 5 million shares to Mint Capital in return.
• OlahBola achieved 1.1 million new unique users by October 2020.
• In November 2020, SportsHero signed a deal with MolaTV, (exclusive rights holders in Indonesia to English Premier League and German Bundesliga football) to stream its content on the OlahBola app. MolaTV pays SportsHero 10% of all MolaTV subscription revenue generated through the app.
• Veritas Securities raised $1.3 million in working capital for the company in November 2020. In February 2021, the company raised a further $1.5 million from First Growth Funds Limited.

SportsHero share price snapshot

SportsHero’s shares are trading higher off the back of today’s announcement. It is also true the SportsHero share price has nearly doubled since this time last year. Back then, shares were selling at 2 cents each.

However, in August 2018 SportsHero shares were selling for as high as 22 cents each. In fact, the current SportsHero share price is 99.5% lower than its all-time high of $7.68. This level was last observed in April 2011.

More reading

• What happened to the SportsHero (ASX:SHO) share price today?

Motley Fool contributor Marc Sidarous 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.

The post Why the SportsHero (ASX:SHO) share price is on a winning streak today appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3aT39gQ

The Resolute Mining Limited (ASX: RSG) share price has avoided the market selloff and is edging higher today.

In afternoon trade, the gold miner’s shares are up 1% to 65 cents.

Why is the Resolute share price rising?

Investors have been buying Resolute shares for a couple of reasons on Friday.

One is the heightened demand for safe haven assets because of the market selloff, the other is the release of its full year results this afternoon.

In respect to the latter, Resolute reported revenue of US$618.3 million and underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of US$269.7 million. This represents a 15.4% and 87% increase, respectively, over the prior corresponding period.

This was driven by a 2.7% increase in production to 395,136 ounces, a small reduction in its all-in sustaining cost (AISC) to US$1,074 per ounce, and a 16.2% jump in the average price received to US$1,562 per ounce.

It is, however, worth noting that this was well short of its original guidance of production of 500,000 ounces with an AISC of US$980 per ounce. Which goes some way to explaining why the Resolute share price is trading just a touch above its 52-week low right now.

On the bottom line, Resolute record a small net profit after tax of US$5 million. This compares to a loss of US$78.5 million a year earlier.

Management commentary

Resolute’s Interim CEO, Stuart Gale, was pleased with the performance given the numerous challenges it faced in 2020.

He said: “I’m very proud of the way that the team at Resolute has responded to the 2020 challenges of COVID-19, a Malian political Coup d’Etat and industrial action at Syama. We have kept our operations running safely and are now well positioned to capitalise on the investments in our assets to deliver on 2021 production targets, focus on operational efficiencies and generate cash flows.”

“Balance sheet improvement remains a key objective for us and cash flows from operations together with proceeds from asset sales will be prioritised to repay debt. Pleasingly, we were able to complete a number of corporate transactions during 2020 which reduced net debt by $92 million and simplified the balance sheet.”

Outlook

Unfortunately, the company isn’t expecting to grow its production or cut costs in FY 2021.

It is forecasting total gold production of 350,000 ounces to 375,000 ounces at an AISC of US$1,200 to US$1,275 per ounce.

Once again, this probably explains why the Resolute share price is down a disappointing 42% over the last 12 months.

More reading

• 5 things to watch on the ASX 200 on Wednesday
• These are the 10 most shorted shares on the ASX
• 5 things to watch on the ASX 200 on Friday
• 5 things to watch on the ASX 200 on Thursday
• 5 things to watch on the ASX 200 on Wednesday

Motley Fool contributor James Mickleboro 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.

The post Why the Resolute Mining (ASX:RSG) share price is pushing higher today appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/2ZSPEHG

iCar Asia Ltd (ASX:ICQ) shares are languishing in mid-afternoon trade following the release of the company’s full-year results. In earlier trade, the iCar Asia share price was trading nearly 5% higher at 34 cents. However, at the time of writing, the company’s shares have retreated back to 32 cents, flat for the day with around an hour of trade remaining.

Let’s take a look at how the car listings company performed over the period.

Why is the iCar Asia share price stuck in neutral?

The iCar Asia share price is going nowhere today as investors seem ambivalent about the company’s latest results.

According to its release, iCar Asia finished the year strongly after rebuilding momentum throughout 2020.

But for the six months ending 31 December 2020, iCar Asia reported revenue of $14 million, a decline of 5% year on year. The reduced earnings reflected a slowdown during most of the year due to government-mandated lockdown measures caused by COVID-19.

iCar Asia stated that all operating countries were faced with some kind of challenges. In light of this, iCar Asia launched new product innovations and focused on customer relationship management to minimise the negative impact.

As a result of the implemented initiatives, along with the gradual recovery, iCar Asia achieved its highest ever monthly revenue for December. Unaudited revenue for the month reached $1.8 million which represented a 27% increase on the prior corresponding period (pcp). Furthermore, the fourth quarter as a whole grew to monthly average revenue of $1.405 million. This is compared to $1.195 million in Q3, $899 million in Q2, and $1.186 million in Q1.

The group also undertook cost-containment measures to limit the damage from the pandemic. This included a drop in headcount, voluntary pay reductions, hiring freezes, and a cutback in marketing spend. From the stringent actions taken, iCar Asia recorded operating expenses at $19.2 million, a 9% reduction on the pcp.

However, while savings were made across the business, earnings before interest, tax, depreciation and amortisation (EBITDA) came to a loss of $6.4 million. This was a 5% improvement on FY19’s result which saw EBITDA at $6.7 million in the red.

iCar Asia closed the year with a balance of $2.2 million in cash and equivalents. Around $13 million worth of undrawn facilities are available should the company wish to tap into its line of credit.

Management commentary

iCar Asia managing director and CEO Hamish Stone commented on the latest results. He said:

2020 was a year full of unprecedented challenges due to COVID-19. iCar Asia is pleased that we have managed these challenges well, as shown in the results for 2020.

With the recovery from COVID-19 gathering momentum and with access to more than adequate funding to grow the business, iCar Asia remains optimistic of ongoing growth in 2021 ahead and to continue to be the leading partner to the recovery of the ASEAN automotive markets.

Foolish takeaway

Management further noted that negotiations surrounding the non-binding proposal from Autohome Inc. to acquire iCar Asia are still ongoing. Autohome had put forward a proposal to purchase iCar Asia’s entire issued share capital at 50 cents apiece.

The offer is subject to a number of conditions as well as court approval. iCar Asia stated it will update the market accordingly when further details arise.

The iCar Asia share price has risen nearly 7% over the last six months but has shed more than 11% over the past year.

More reading

• Why the Damstra (ASX:DTC) share price is crashing 11% lower today
• Why is the Mesoblast (ASX:MSB) share price frozen?
• Dalrymple Bay (ASX:DBI) share price stays afloat despite no earnings surprises
• Brokers name 3 ASX shares to buy right now
• The Weebit Nano (ASX:WBT) share price dips on widening losses

Motley Fool contributor Aaron Teboneras 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.

The post iCar Asia (ASX:ICQ) share price stalls on sliding revenue appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3aTPyWl

The Damstra Holdings Ltd (ASX: DTC) share price is out of form on Friday and tumbling lower.

In afternoon trade, the integrated workplace management solutions provider’s shares are down over 11% to $1.18.

Why is the Damstra share price down 10%?

There have been a couple of catalysts for today’s decline in the Damstra share price.

The first and main catalyst is the market selloff, which has been particularly severe in the technology sector.

So much so, the S&P/ASX All Technology Index (ASX: XTX) is down almost 5% this afternoon. This compares to a 2% decline by the benchmark S&P/ASX 200 Index (ASX: XJO).

What else happened?

In addition to this, this morning Damstra released its half year results, which may have fallen short of some investors’ expectations.

For the six months ended 31 December, Damstra reported a 29.6% increase in revenue to $13.3 million.

However, despite this strong top line growth, the company’s pro forma earnings before interest, tax, depreciation and amortisation (EBITDA) declined by 4% to $2.5 million. This was driven by the company’s acquisition of the loss-making Vault Intelligence business during the half.

This ultimately led to Damstra posting a loss after tax of $5.5 million for the half.

At the end of the period, the company had a cash balance of $7.5 million and no debt.

Management commentary

Damstra’s CEO, Christian Damstra, commented: “Damstra has performed very well in the first half of FY21, despite some external challenges, and we continue to execute on our strategic growth agenda. We are particularly pleased with the benefits from the Vault acquisition. What was a loss-making business has been seamlessly integrated with minimal impact on our underlying financial performance.”

“Our Gross Margin increased to 75% and EBITDA margin was maintained above 20% (at 21% compared to 25% in the PCP), demonstrating earnings leverage from increased scale. This was most clearly shown during Q2 where the rate of increase in costs was less than half the rate of increase in revenue. Looking forward, we are confident that structural costs will continue to rise at a rate of less than half that of revenue.”

Outlook

Mr Damstra revealed that the company’s growth has accelerated since the end of the half.

“Pleasingly, we are now seeing growth accelerating, building on our positive Q2 momentum. January unaudited revenue was up 61% on PCP and we expect this positive trend to continue. COVID did impact some of our client operations, particularly in the northern hemisphere, which in some instances slowed contract signing and onsite installation of our product solutions. Importantly we did not lose any clients as a result of COVID and activity levels are beginning to return.”

Despite today’s decline, the Damstra share price is up 21% over the last 12 months.

More reading

• 3 very exciting small cap ASX shares to watch
• 2 explosive ASX tech shares to buy in February
• Why the Damstra (ASX:DTC) share price is racing higher today

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 recommends Damstra Holdings Ltd. The Motley Fool Australia has recommended Damstra Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the Damstra (ASX:DTC) share price is crashing 11% lower today appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3uwj7Fj

Mesoblast Limited (ASX: MSB) shares have been halted in their tracks on Friday. On a day when it is likely fortunate to be missing the action, the Mesoblast share price won’t be going anywhere after the company requested the trading halt prior to market open this morning.

Let’s take a look at why the biotech company requested the pause in trading.

Why did Mesoblast request a trading halt?

Mesoblast shares are on hiatus today as the junior healthcare company prepares to raise capital via a private placement to a “targeted industry investor”.

The Mesoblast share price is expected to remain in a trading halt until such time as the company makes a further announcement or, at the latest, Tuesday next week.

The company did not provide any insights into why it is seeking to raise capital.

Mesoblast share price soars on study results

Earlier this month, the Mesoblast share price surged after the company released promising results from a phase-3 clinical trial.

Prior to the announcement, the stem-cell research company had been conducting a six-year clinical trial on treatment to reduce lower back pain.  

According to Mesoblast, patients who had a single injection of its rexlemestrocel-L reported a reduction in their back pain. These patients, who suffered from inflammatory disc disease, reported no pain for at least two years and were compared to patients treated with a placebo.

Management has advised it intends to meet with the United States Food and Drug Administration to discuss potential approval pathways for rexlemestrocel-L.

How have Mesoblast shares been performing?

Mesoblast describes itself as a world leader in the development of regenerative medicines for inflammatory diseases. 

The company was a favourite among retail investors last year after it announced promising results for its Remestemcel-L (Ryonsil) treatment for COVID-19.

After hitting a six-year peak of $5.50 in September last year, the Mesoblast share price has more than halved. Mesoblast shares crashed from their highs late last year after the company reported a setback to its COVID-19 treatment trial.

Mesoblast cited that changes in the treatment regimens for COVID-19 patients were to blame for the trial’s failure.

Shares in Mesoblast have returned to being one of the most shorted on the ASX, with an 8.8% short interest. 

The Mesoblast share price last traded at $2.46, marking a 6.5% increase for the year to date.

More reading

• These are the 10 most shorted shares on the ASX
• These are the 10 most shorted shares on the ASX
• Mesoblast (ASX:MSB) share price surges on new results
• Why Mesoblast, Newcrest, Sezzle & Telstra shares are racing higher
• Here are the 10 most shorted shares on the ASX

Motley Fool contributor Nikhil Gangaram 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.

The post Why is the Mesoblast (ASX:MSB) share price frozen? appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3sslFCD

The Dalrymple Bay Infrastructure Ltd (ASX: DBI) share price has inched up by 0.48% at the time of writing and is currently trading at $2.09 a share.

The movement follows release of the company’s earnings results for the period ended 31 December 2020.

Notably, Dalrymple Bay only listed on the Australian Securities Exchange in December 2020. Therefore, the statutory results reflect the listing date of 8 December 2020 to 31 December 2020.

Financial performance summary

Comparing the financial results to the statutory forecasts provided in Dalrymple prospectus, the company reported the following.

Dalrymple earned a total revenue of $23.4 million during the period compared to the $38.1 million posted in the prospectus.

The business posted a loss after tax of $113.2 million. The prospectus estimated a loss of $115.5 million.

Liquidity in the business as at 31 December 2020 comprised of $214 million in undrawn bank facilities, $139.1 million cash at bank and $36 million in restricted cash.

CEO comments and outlook

Dalrymple Bay Infrastructure Managing Director and CEO, Anthony Timbrell said:

2020 was pivotal for Dalrymple Bay Infrastructure as it became a publicly listed company. Our foundation asset, the Dalrymple Bay Terminal, continued to provide safe and efficient port infrastructure during 2020. The terminal remains a critical link in the global steel making supply chain and is a key asset in the Queensland and Australian economies. Despite the impacts of COVID on global economies, the terminal shipped 55mt of coal to 23 countries – 82% of which was metallurgical coal, up 1% on 2019.

The company advised that going forward, it will continue to focus on its core investment drivers. It aims to grow distributions per share by 1%-2% per annum for the foreseeable future.

Dalrymple further stated that it remains on track to deliver distributions of $45 million for the 6-month period to 30 June 2021.

Dalrymple Bay share price snapshot

The business has a market capitalisation of approximately $1 billion and there are presently 500.3 million shares outstanding.

The Dalrymple Bay share price has dropped 1.42% over the past month.

More reading

• Why the Damstra (ASX:DTC) share price is crashing 11% lower today
• Why is the Mesoblast (ASX:MSB) share price frozen?
• Brokers name 3 ASX shares to buy right now
• The Weebit Nano (ASX:WBT) share price dips on widening losses
• Top Shelf (ASX:TSI) share price pops on first earnings report

Motley Fool contributor Gretchen Kennedy 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.

The post Dalrymple Bay (ASX:DBI) share price stays afloat despite no earnings surprises appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3r1gZDq

Australia’s top brokers have been busy adjusting their estimates and recommendations again, leading to the release of a number of broker notes.

Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Afterpay Ltd (ASX: APT)

According to a note out of Morgan Stanley, its analysts have retained their overweight rating but trimmed the price target on this payments company’s shares to $159.00. This follows the release of the company’s half year results this week. The broker was impressed with the increasing frequency that customers are using its platform. It also notes that its Afterpay Money app is due to be released later this year and its European expansion should commence from next month. One thing that did fall short of the broker’s estimates was its active customers. This came in at 13.1 million, compared to its estimate of 13.6 million. This has led to a reduction in the broker’s sales estimates. The Afterpay share price is trading at $119.94 today.

Appen Ltd (ASX: APX)

Analysts at Ord Minnett have upgraded this artificial intelligence data services company’s shares to a buy rating with a reduced price target of $24.75. According to the note, Appen delivered a full year result the was largely in line with its estimates. And while it notes that trading conditions are tough, it believes its long term outlook is positive. This is thanks to the global trend of investment in artificial intelligence. In addition to this, following a pullback in its share price, it feels its shares are trading at an attractive level. The Appen share price is fetching $16.95 this afternoon.

Zip Co Ltd (ASX: Z1P)

A note out of Morgans reveals that its analysts have retained their add rating and lifted the price target on this buy now pay later provider’s shares to $12.10. This follows the release of its half year update. The broker appears surprised by Zip’s loss during the half but remains positive due to the strong momentum it is exhibiting across the business. Furthermore, Morgans believes its strong growth can continue for the foreseeable future. In afternoon trade the Zip share price is trading at $10.25.

More reading

• Why Afterpay, Kogan, Orica, & Service Stream shares are crashing lower
• Growth outlook fails to save the Aristocrat share price today
• ASX 200 down 2.3%: Afterpay & Kogan sold off, Orica smashed, AMP pushes higher
• Will Wall Street’s overnight tumble send ASX 200 shares down today?
• Why the Afterpay (ASX:APT) share price is sinking 14% today

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 Appen Ltd and ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Brokers name 3 ASX shares to buy right now appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3qX355g