Tag: Motley Fool

The Adore Beauty Group Ltd (ASX: ABY) share price started the week strongly.

The online beauty retailer’s shares hit a 52-week high of $1.46 before ending the day 4% higher at $1.34.

This follows the release of the small cap ASX stock’s half-year results.

Small cap ASX stock hits 52-week high on results release

• Revenue up 7% to $100.7 million
• Active customers up 0.5% to 804,000
• Record returning customers of 507,000
• Reported EBITDA up 6x to $2.8 million
• Cash balance of $32.3 million

What happened during the half?

For the six months ended 31 December, Adore Beauty reported a 7% increase in revenue to $100.7 million. This was supported by a modest increase in active customers and record average order values and annual spend per customer.

Adore Beauty’s reported EBITDA came in 6x higher than last year at $2.4 million with a margin of 2.3% (up from of 0.4%). This is in line with guidance and reflects revenue growth, cost optimisation, and re-investment in margin expansion initiatives.

At the end of the period, the small cap ASX stock had a cash balance $30.1 million and no debt.

Management commentary

Adore Beauty’s new CEO, Tamalin Morton, said:

Adore Beauty continues to navigate the post-lockdown environment and is cycling periods of significant growth. Year-on-year revenue comparisons remain volatile given the vastly different trading conditions in the prior period, when many of our customers were experiencing lockdown.

Encouragingly, we now have a record number of returning customers, who are contributing 78% of all revenue with larger basket sizes and more frequent orders than new customers. And we’re starting to see the early benefits of our strategic initiatives, which are designed to drive improvements in key customer metrics and support sustainable long-term growth.

Outlook

Management notes that trading conditions remain challenging with high levels of inflation and subdued consumer sentiment.

It also notes that January growth comparisons are volatile as the prior corresponding period was impacted by mandated isolation for Omicron, limited travel opportunities, and additional promotional activity.

As a result, trading in the first seven weeks reflects this volatility with revenue down 7.8% on the prior corresponding period.

However, sales through February have shown improvement and are up 3.7% on the same period last year.

Though, it has warned that second half sales are no longer expected to grow in the double digits compared to the second half of FY 2023. Instead, they are expected to be flat as the small cap ASX stock focuses on margins and remaining profitable.

Adore Beauty shares are up 30% over the last 12 months.

The post Guess which small cap ASX stock hit a 52-week high amid stellar half-year growth appeared first on The Motley Fool Australia.

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More reading

• These ASX dividend stocks could be top buys in March
• Nanosonics share price crashes 14% on first-half profit crunch
• Hoping to bag the Fortescue dividend? You better be quick!
• Leading brokers name 3 ASX shares to buy today
• Down 27% in 2024, this leading fund manager forecasts a big turnaround for Domino’s shares

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Adore Beauty Group. The Motley Fool Australia has recommended Adore Beauty Group. 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 good news for income investors is that there are plenty of ASX dividend stocks to choose from on the Australian share market.

But which ones could be buys in March?

Let’s take a look at two that have recently been named as buys:

Dexus Convenience Retail REIT (ASX: DXC)

The first ASX dividend stock that could be a buy is Dexus Convenience Retail REIT. It is a real estate investment trust that owns high quality service stations and convenience retail assets.

Bell Potter thinks the company is a good option for income investors. It said:

With the benefit of a further asset disposal today for DXC at book value (+25bp vs. prior BV, but consistent with mkt), we see clear price discovery for DXC where there have been 53 petrol station transactions in CY23, proving up book value. Notwithstanding, DXC trades at a 27% discount to NTA and screens value to us.

The broker has a buy rating and $3.00 price target on its shares.

Bell Potter is forecasting dividends per share of 20.9 cents in FY 2024 and 20.7 cents in FY 2025. Based on its current share price of $2.80, this equates to yields of 7.45% and 7.4%, respectively.

Universal Store Holdings Ltd (ASX: UNI)

Another ASX dividend stock that has been named as a buy is Universal Store. It is the youth fashion retailer behind the Universal Store, Perfect Stranger, and Thrills brands.

Morgans was impressed with the company’s half-year results this month. It commented:

UNI’s focus on offering high quality, fashionable apparel in a well presented store environment with high levels of service is paying off. Despite the challenges facing the consumer discretionary market, especially among the younger demographic, the 1H24 performance was highly resilient. Costs were well controlled and margins outperformed expectations, resulting in EBIT coming in 6% above forecast. The core youth consumer appears to be picking up. We have increased our FY24 EBIT estimate by 4% and reiterate our Add rating with an increased target price.

Morgans has an add rating and $5.65 price target on its shares.

As for income, the broker expects fully franked dividends per share of 26 cents in FY 2024 and then 29 cents in FY 2025. Based on the current Universal Store share price of $4.48, this will mean yields of 5.8% and 6.5%, respectively.

The post These ASX dividend stocks could be top buys in March appeared first on The Motley Fool Australia.

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More reading

• Are these top ASX shares dirt cheap and must-buys right now?
• Why Bega Cheese, Domino’s, Lovisa, and Universal Store shares are rocketing today
• Here are 3 ASX retail shares moving up to 19% on half-year results today
• 1 ASX dividend stock down 50% to buy in February
• 2 ASX dividend shares to buy to supercharge your income

Motley Fool contributor James Mickleboro has positions in Universal Store. 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 Nanosonics Ltd (ASX: NAN) share price is having a tough start to the week.

In late trade, the infection prevention company’s shares are down 14% to a 52-week low of $2.69.

This follows the release of its half-year results this morning.

Nanosonics share price sinks on profit crunch

• Revenue down 2% to $79.6 million
• Operating expenses up 12% to $60.8 million
• Profit after tax down 40% to $6.2 million
• Global installed base increased by 1,100 units to 33,550 units,

What happened during the half?

For the six months ended 31 December, Nanosonics’ total revenue was down 2% over the corresponding period to $79.6 million. This was attributable to lower than anticipated capital unit sales due to delays in hospital capital budget availability.

Capital revenue was down 15% to $21.9 million for the half, which offset a 4% lift in consumable and service revenue to $57.7 million.

Although Nanosonics reported a small increase in gross margin due to currency tailwinds, its operating margin didn’t fare as well.

The company’s operating expenses grew 12% over the prior corresponding period to $60.8 million. Though, this includes investments being made in preparation for the commercialisation of the company’s new endoscope reprocessing platform, CORIS.

A number of productivity initiatives are now underway across the organisation which will see operating expenses for the year reducing from the 17% to 22% growth outlook to between 9% and 11% growth.

In light of its softer revenue and higher expenses, Nanosonics’ profit after tax tumbled 40% to $6.2 million. This includes a $1.3 million income tax benefit, compared to a $1 million expense a year ago.

Management commentary

Nanosonics’ CEO, Michael Kavanagh, acknowledged that the first half was challenging. He said:

The first half of FY24 brought a number of market challenges resulting in lower than expected capital sales despite a growing sales pipeline for both new installed base and upgrades. This was seen to be driven by customers deferring purchases due to hospital capital budget constraints. This particularly impacted our expected growth in trophon upgrade volumes as customers extended the use of their original trophon EPR unit.

Despite the market challenges faced in the first half, we expect both unit and revenue growth in H2 over H1. We remain confident in the ongoing growth opportunity of our trophon ultrasound reprocessing business as well as our broader growth opportunities through the investments being made in both product and geographical expansion.

Outlook

Total revenue for the second half is expected to grow between 6% to 15% over the first half. This will mean full year revenue of between $164 million and $171 million, compared to $166 million in FY 2023.

This is expected to be achieved with a gross profit margin of 76% to 78% and operating expense growth of 9% to 11%.

The Nanosonics share price is now down 40% over the last 12 months.

The post Nanosonics share price crashes 14% on first-half profit crunch appeared first on The Motley Fool Australia.

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More reading

• Why Nanosonics, NIB, Santos, and TPG shares are falling 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 positions in and has recommended Nanosonics. The Motley Fool Australia has positions in and has recommended Nanosonics. 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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It won’t be long until the next Fortescue Ltd (ASX: FMG) dividend is paid to shareholders.

So, if you want to receive it on payday, you’ll have to take action soon if you don’t already own the iron ore miner’s shares.

The Fortescue dividend

Last week, Fortescue released its half-year results and reported a 21% increase in revenue increased to US$9.5 billion and a 41% jump in net profit after tax to US$3.3 billion.

Also growing strongly was its free cash flow, which increased by 68% to US$2.66 billion for the half.

The key driver of this was of course a strong iron ore price. The average realised price received was up 24% on the prior corresponding period to US$108.19 per dry metric tonne.

In light of this strong financial performance, the Fortescue board elected to increase its fully franked interim dividend by 44% to A$1.08 per share.

Based on the latest Fortescue share price of $27.66, this dividend alone equates to a generous 3.9% dividend yield.

When is payday?

Fortescue is planning to reward its shareholders with its interim dividend next month on 27 March.

If you want to receive this payout, you will need to be a Fortescue shareholder before its shares trade ex-dividend on Wednesday 28 February. This effectively means you need to be on the mining giant’s share register at the close of play on Tuesday to qualify.

That’s because the rights to a dividend are settled once a share goes ex-dividend. If you were to buy shares after that point, the dividend rights would go to the seller of the shares on payday even though they don’t have them in their portfolio anymore.

Should you buy Fortescue shares?

Goldman Sachs appears to believe that investors should take their money and run.

Last week, its analysts put a sell rating and $19.60 price target on its shares. This implies potential downside of 26% for investors over the next 12 months.

The post Hoping to bag the Fortescue dividend? You better be quick! appeared first on The Motley Fool Australia.

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More reading

• Why these 4 ASX 200 shares grabbed the Motley Fool’s headlines this week
• Better buy: Fortescue or BHP shares?
• Qantas descends, Treasurer’s RBA dilemma and Twiggy’s payday: Scott Phillips on Nine’s Late News
• 25 ASX 200 shares with ex-dividend dates next week
• Everything you need to know about the supersized Fortescue dividend

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. 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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With so many shares to choose from on the ASX, it can be difficult to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

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

Accent Group Ltd (ASX: AX1)

According to a note out of Morgans, its analysts have retained their add rating and $2.30 price target on this footwear retailer’s shares. Although Accent’s half year results were short of expectations, the broker remains positive. Particularly given that comparable sales will get less demanding as the half goes on. Morgans expects this to lead to positive like for like sales for the second half. The Accent share price is trading at $1.96 today.

Pro Medicus Limited (ASX: PME)

A note out of Macquarie reveals that its analysts have retained their outperform rating and $120.00 price target on this health imaging technology company’s shares. The broker believes that recent share price weakness has created a buying opportunity for investors. Especially now they are trading on multiples that are largely in line with five-year averages. The Pro Medicus share price is fetching $98.39 on Monday.

Xero Ltd (ASX: XRO)

Analysts at Goldman Sachs have reiterated their buy rating and $141.00 price target on this cloud accounting platform provider’s shares. The broker is feeling positive on Xero’s outlook ahead of its investor day event this week. It highlights that it is forecasting revenue to grow to NZ$3 billion by FY 2028. This represents a 16% CAGR (14% subs growth and +2% ARPU). The Xero share price is trading at $122.72 this afternoon.

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

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More reading

• Buying Xero shares? Here’s what to expect from this week’s update
• I’d buy these great ASX growth shares in March
• 5 things to watch on the ASX 200 on Monday
• Here’s how the ASX 200 market sectors stacked up this week
• Here are the top 10 ASX 200 shares today

Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Macquarie Group, Pro Medicus, and Xero. The Motley Fool Australia has positions in and has recommended Macquarie Group and Xero. The Motley Fool Australia has recommended Accent Group and Pro Medicus. 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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Domino’s Pizza Enterprises Ltd (ASX: DMP) shares haven’t exactly shot the lights out so far in the new year.

Since the opening bell on 2 January, shares in the S&P/ASX 200 Index (ASX: XJO) fast food pizza retailer are down a painful 27%.

Most, if not all, of that pain can be blamed on a trading update from 25 January.

That update indicated strong sales growth for the company at its operations in Germany, Australia and New Zealand. However, the pizza retailer saw same store sales in Japan, Taiwan, Malaysia and France fall.

Investors reacted by sending Domino’s shares down 31.1% on the day.

As you can see in the above chart, despite gaining 10% since 25 Janaury, the stock remains down 73% from its mid-September 2021 highs.

That big fall, and the potential for a strong rebound, has put the ASX 200 pizza company on Vertium Asset Management founder Jason Teh’s radar. Teh likes to invest in beaten down companies in the early stages of a turnaround phase.

And that turnaround could already be in the early stages for Domino’s Pizza.

While Domino’s last week reported its Asian businesses continued to struggle over 1H FY 2024, the company’s Australia and New Zealand segment enjoyed the strongest top line growth in six years.

And momentum for that turnaround appears to be building.

In the first seven weeks of calendar year 2024, same stores sales growth increased 8.4% in Australia and New Zealand and 0.3% in Asia, while growth slipped 0.6% in Europe.

The company also offers some handy passive income. Domino’s shares trade on a 2.3% dividend yield.

Domino’s shares in ‘early days’ of turnaround

According to Teh (courtesy of The Australian Financial Review), “You can already see some signs of recovery with the new products that were launched in Australia, and same store sales are improving.”

And it’s that concentration on targeted product offerings that Teh believes will drive the turnaround for Domino’s shares, with the recent success in the company’s Australia and New Zealand stores serving as a guide to improving its international sales.

According to Teh:

The overseas markets haven’t delivered yet. But it’s still early days with all turnarounds. It takes time to see the results of the strategy, but lessons learned in Australia will be taken to overseas markets.

Then there’s Domino’s CEO Don Meij.

Meij has held that title since 2002. And in 2005 he oversaw Domino’s listing on the ASX.

As legendary investor Warren Buffett famously said, “A great manager is as important as a great business.”

And Teh believes Meij fits that bill.

“I’m willing to definitely give him a little bit of a benefit of the doubt that he will be able to execute this turnaround strategy. If it was a brand-new CEO, you just don’t know as well,” he said.

In Monday afternoon trade, Domino’s shares are down 0.7% at $43.22 apiece.

The post Down 27% in 2024, this leading fund manager forecasts a big turnaround for Domino’s shares appeared first on The Motley Fool Australia.

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More reading

• 25 ASX 200 shares with ex-dividend dates next week
• Here’s how these 3 ASX 200 shares just earned substantial broker upgrades
• Here are the top 10 ASX 200 shares today
• Why Bega Cheese, Domino’s, Lovisa, and Universal Store shares are rocketing today
• Why Codan, Domino’s, Lottery Corp, and Wisetech shares are storming higher today

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 positions in and has recommended Domino’s Pizza Enterprises. The Motley Fool Australia has recommended Domino’s Pizza Enterprises. 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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Retirees, including those with self-managed superannuation funds (SMSFs), are a group of investors whose needs differ from others.

Whilst those of us who are still working might seek to maximise the overall returns of our portfolios, retirees typically want to extract as much dividend income, preferably franked, out of their portfolios as possible.

This makes sense. Once you’ve given up your day job and your primary income has evaporated, the passive income from your investment portfolio, or super fund, is probably going to be one of the only ways that you’ll have to pay the bills.

But which stocks are ideal for an SMSF? Well, that’s the million-dollar question. Like with any investment portfolio, diversification remains an important consideration. So I’d never actually recommend anyone holds just three ASX shares in their SMSF.

If you’re looking to pad out your portfolio with some of the safest dividend shares (at least in my view) on the ASX, make sure you check out this piece (and this one) too.

But today, here are three stocks I’d recommend to anyone looking for some solid foundations for their SMSF.

3 stocks I’d buy and hold in a superannuation fund today

Plato Income Maximiser Ltd (ASX: PL8)

Plato Income Maximiser is a listed investment trust (LIT). It holds a portfolio of other ASX shares within its portfolio, which it uses to fund generous dividends for its investors. I like Plato for a self-managed superannuation fund as it’s specifically built with income in mind.

It pays out fully franked dividends every single month, thanks to holding income heavyweights like Commonwealth Bank of Australia (ASX: CBA) and BHP Group Ltd (ASX: BHP).

Plato has given investors some impressive returns since its inception in 2017, and today offers a fully-franked trailing yield of over 6%.

Lottery Corporation Ltd (ASX: TLC)

Next up we have Lottery Corp. This ASX 200 share is an interesting one. It holds exclusive licenses to operate lotteries and Keno in almost every Australian state and territory.

I love the defensive and reliable cash flows that these licenses enable Lottery Corp to collect year in, and year out. These gaming vices are popular no matter the economic weather. After all, there’s an awful lot of us who can’t escape the allure of potentially winning a jackpot.

Lottery Corp shares have only been on the ASX for less than two years. But since the company’s listing, we’ve already seen some solid dividends coming out for investors. I reckon these will only go up over time, and thus make Lottery Corp a great stock to hold in a superannuation fund.

You can expect a fully-franked dividend yield of roughly 2.75% from Lottery Corp shares today.

iShares Global Consumer Staples ETF (ASX: IXI)

Finally, let’s talk about an exchange-traded fund (ETF) in the iShares Global Consumer Staples ETF.

Consumer staples stocks are one of the best sectors for any retiree to invest capital in my view. These companies produce goods like food, drinks, and household essentials that none of us can live comfortably without.

As such, these companies tend to be some of the most defensive businesses out there and are resilient to all kinds of economic maladies ranging from recessions to inflation. That’s the kind of peace of mind that I think any self-managed superannuation fund owner would value.

Another benefit of this particular ETF is that it gives our superannuation fund some serious international diversification. IXI holds companies that are based in the United States, United Kingdom, Europe, Japan, and Mexico, just to name a few.

Your cash will go into world-famous companies like McDonald’s, Coca-Cola, Walmart, Procter & Gamble, Nestle and L’Oreal.

The post 3 stocks I’d buy and hold inside a self-managed superannuation fund appeared first on The Motley Fool Australia.

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More reading

• 25 ASX 200 shares with ex-dividend dates next week
• Why Codan, Domino’s, Lottery Corp, and Wisetech shares are storming higher today
• 4 All Ords ASX dividend shares going gangbusters on results
• 5 ASX shares to buy and hold forever in your investment portfolio
• History suggests this under-the-radar ASX 200 stock could be a dark horse this reporting season

Motley Fool contributor Sebastian Bowen has positions in Coca-Cola, McDonald’s, Plato Income Maximiser, Procter & Gamble, and iShares International Equity ETFs – iShares Global Consumer Staples ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Lottery and Walmart. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Nestlé. The Motley Fool Australia has positions in and has recommended iShares International Equity ETFs – iShares Global Consumer Staples ETF. 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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ResMed Inc (ASX: RMD) shares are pushing higher on Monday.

In afternoon trade, the sleep disorder treatment company’s shares are up 1% to $28.28.

This means that its shares are now up 33% since hitting a 52-week low in September.

Can ResMed shares keep rising?

While it might look like you’re too late to the party, a number of analysts and fund managers don’t believe that is the case.

For example, the team at Blackwattle highlighted ResMed shares as a key reason for the recent outperformance of the investment company’s mid cap fund. It said:

Resmed rose 15% in January and was a key positive contributor to performance during the month. The company reported strong Dec Q results during the month which reinforced the company’s ability to grow earnings with reasonable consistency in the face of the broadening GLP-1 class of drugs.

The fund manager also notes that concerns over weight loss drugs (GLP-1s) are unwarranted. So, with its shares still down 10% on a 12-month basis, Blackwattle appears confident on its investment in the company. It adds:

RMD also showed data that demonstrates patients who use both GLP-1 and CPAP treatment tend to benefit from therapy in combination, not in competition as the market assumed initially. RMD key competitor in CPAP, Philips (PHG EU), also continues to struggle with the repercussions of its highly damaging US recall, supporting our view that RMD will maintain higher market share levels the US.

Who else likes ResMed?

Blackwattle isn’t alone with its positive view on ResMed. A number of brokers still see plenty of upside ahead for its shares. This includes Citi and Macquarie, which have the equivalent of buy ratings and price targets of $34.00 and $33.45, respectively.

This implies potential upside of 20% and 18% for investors over the next 12 months.

The post Here’s why ResMed shares can jump a further 20% appeared first on The Motley Fool Australia.

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More reading

• These super-strong ASX 200 blue chip shares could deliver 20% returns
• ASX blue chip shares: The best of the best for February 2024
• The best ASX shares to invest $20,000 in right now
• 2 ASX 200 growth shares to buy with ‘immense opportunity’ ahead
• How high could the ResMed share price climb?

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in ResMed. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group and ResMed. The Motley Fool Australia has positions in and has recommended Macquarie Group and ResMed. 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has given back its morning gains and dropped into the red. At the time of writing, the benchmark index is down slightly to 7,642.4 points.

Four ASX shares that are not letting that hold them back today are listed below. Here’s why they are climbing:

Alumina Ltd (ASX: AWC)

The Alumina share price is up 7% to $1.09. This follows news that the alumina producer has received and accepted a takeover offer from Alcoa. According to the release, Alcoa has tabled an offer valuing Alumina at $3.3 billion.

Kogan.com Ltd (ASX: KGN)

The Kogan share price is up 22% to $7.46. Investors have been buying the ecommerce company’s shares following the release of its half-year results. Although Kogan reported a decline in sales, this didn’t stop its profits from surging. Kogan’s net profit after tax came in at $10.2 million, up from a $9.6 million loss a year earlier.

Mayne Pharma Group Ltd (ASX: MYX)

The Mayne Pharma share price is up 15% to $6.02. This follows the release of the pharmaceutical company’s half-year results. Mayne Pharma reported a 43% increase in revenue to $188 million and underlying EBITDA of $8 million. The latter compares favourably to a $25.7 million EBITDA loss from the prior corresponding period.

Suncorp Group Ltd (ASX: SUN)

The Suncorp share price is up 2.5% to $15.53. Investors have been buying the insurer’s shares after it released its half-year results. Suncorp’s cash earnings were up 13.8% to $660 million for the half. This allowed Suncorp to declare a fully franked interim dividend of 34 cents per share, up from 33 cents per share.

The post Why Alumina, Kogan, Mayne Pharma, and Suncorp shares are racing higher appeared first on The Motley Fool Australia.

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More reading

• Alumina shares leap 8% on Alcoa takeover bid
• Suncorp share price marching higher on 14% earnings boost
• Kogan share price jumps 14% on massive profit rebound and dividend return
• 5 things to watch on the ASX 200 on Monday
• Morgans says these ASX shares are buys (with special dividends to come)

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Kogan.com. The Motley Fool Australia has recommended Kogan.com. 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 S&P/ASX 200 Index (ASX: XJO) is edging higher on Monday. In afternoon trade, the benchmark index is up 0.1% to 7,649.5 points.

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

Nanosonics Ltd (ASX: NAN)

The Nanosonics share price is down 7% to $2.90. This follows the release of the infection prevention company’s half-year results. Nanosonics reported a 2% decline in revenue to $79,638 million and a 41% decline in net profit after tax to $6,168 million. Soft sales and notably higher expenses weighed on the company’s profits.

NIB Holdings Limited (ASX: NHF)

The NIB share price is down 3% to $7.94. Investors have been selling this private health insurer’s shares following the release of its half-year results. Although NIB reported a 19.4% increase in net profit after tax to $104 million, its result was boosted by reserve movements and described as “weak” by analysts at Goldman Sachs.

Santos Ltd (ASX: STO)

The Santos share price is down 4.5% to $7.09. This has been driven by the energy producer’s shares going ex-dividend this morning for its final dividend of FY 2023. Eligible shareholders can now look forward to receiving Santos’ 26.8 cents per share unfranked dividend next month on 27 March.

TPG Telecom Ltd (ASX: TPG)

The TPG share price is down 8% to $4.93. Investors have been selling the telco’s shares following the release of its full-year results. TPG reported a 4.3% increase in revenue to $4,632 million but a 9.6% decline in adjusted net profit after tax to $584 million. In addition, management’s guidance for FY 2024 has fallen short of expectations.

The post Why Nanosonics, NIB, Santos, and TPG shares are falling today appeared first on The Motley Fool Australia.

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More reading

• TPG share price crashes 10% on FY 2023 results
• NIB share price falls despite 19% profit growth in FY24 first-half result
• 5 things to watch on the ASX 200 on Monday
• These ASX shares could rise 30% to 50% in 12 months
• 25 ASX 200 shares with ex-dividend dates next week

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