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The Event Hospitality and Entertainment Ltd (ASX: EVT) share price soared more than 10% higher in today’s trading session.

Shares in the entertainment company have continued their momentum from yesterday, following the release of the company’s results for FY21.

Here’s a recap of what Event announced and why investors are bidding shares in the company higher.

Event share price soars on full-year report

Shares in Event stormed 5% higher yesterday after the company reported a promising result for FY21.

Despite the impact of COVID-19 restrictions, investors jumped to get their hands on shares in the entertainment company.

Highlights from Event’s full-year report included:

• Earnings before interest, tax, depreciation, and amortisation (EBITDA) of $27.2 million – 71% less than FY20
• $653 million of revenue excluding government subsidies, down 45.4%
• Loss of $63 million before income tax

The company’s entertainment and event segments weighed down EBITDA.

However, Event highlighted strong returns from its hotels and resorts segments.

In addition, the company’s property and investments segment helped offset losses.

Vaccine rollout to determine outlook for Event

Despite various COVID-19 disruptions, the Event share price has performed remarkably well in 2021.

Including today’s price action, shares in Event have stormed 50% higher year-to-date and are currently trading at a 52-week high.

In its full-year report, Event’s management highlighted quality films had seen a strong return to cinemas.

In addition, the company noted that customers are spending more than they were pre-COVID which bodes well for Event’s outlook.

The company also noted that given the current Delta variant outbreak, the speed of various government vaccine rollout programs will determine Event’s timeline for recovery. 

At the time of writing, shares in Event are trading 7.21% higher for the day at $14.20.

Earlier, shares in the entertainment company stormed ahead more than 10%, hitting an intraday and 52-week high of $14.67.

The post Event (ASX: EVT) share price soars 10% to a 52-week high appeared first on The Motley Fool Australia.

More reading

• Which ASX 300 shares are the biggest winners and losers on Tuesday?
• The Event (ASX: EVT) share price is gaining on FY21 earnings

Motley Fool contributor Nikhil Gangaram 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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The iSelect Ltd (ASX: ISU) share price is sliding today, down 5% to 45 cents per share.

The company offers comparison service for consumers to get the best rates on insurance, utilities and personal finance products.

Below we take a look at the its results for the 2021 financial year ending 30 June.

iSelect share price falls on FY21 results

• Underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) (including JobKeeper) of $20.8 million, up from $13.7 million in FY20
• Underlying Revenue of $111 million, down from $123 million in the prior year
• Underlying net profits after tax (NPAT) of $7.1 million, up from $3.1 million in FY20
• Reported NPAT loss of -$5.1 million, compared to a loss of -$43.5 million in FY20

What happened during the reporting period for iSelect?

iSelect reported significant impacts from COVID-19 during the course of the year, with fluctuating consumer demand hitting its leads and revenue. It said this was most noticeable in the Energy, Telco and Car Insurance segments, with declines of 40-50% recorded.

The company launched new partnerships with NewsCorp and Seven Affiliates Sales, promoting the iSelect and Energy Watch brands.

FY21 also saw iSelect representation of major health insurers grow to 9, following Bupa’s arrival in the marketplace. Meanwhile, Aussie Broadband became a new partner for the company in its Telco segment.

iSelect highlighted management’s rollout of its 5-year strategy, i26, focused around the Consumer Data Right (CDR) legislation, passed in 2019. It said, “The introduction of CDR will empower consumers to compare and switch products and service providers.”

As at 30 June, it had a consolidated cash balance of $9.4 million and no debt.

What did management say?

Commenting on the results of the year gone by, iSelect’s CEO, Warren Hebard said:

During FY21, we have invested in our data platforms and focused on growing our iSelect account base, which is now up to 1.1 million customers. We will continue this ahead of the arrival of Open Energy in FY23, when we will look to leverage these investments to deliver new and innovative digitised journeys for our customers, providing a frictionless, always-on comparison experience.

What’s next for iSelect?

Looking to the year ahead the company cautioned that the pandemic is continuing to cause market volatility. iSelect expects this will impact its performance in the first half of FY22.

Taking note of increased competition entering the space, Hebard said:

Our focus in FY22 will be on executing operationally within our core business whilst progressing our i26 strategy. Our first phase of i26 will be leveraging our Energy expertise in preparing for Open Energy, building out our new verticals and continuing to invest in our marketing partnerships and brand.

The iSelect share price is up 65% over the past 12 months.

The post iSelect (ASX:ISU) share price slides 5% as investors mull FY21 results appeared first on The Motley Fool Australia.

More reading

• Here’s why the Ioneer (ASX:INR) share price hit an all-time high today
• It’s been a good week for the Qantas (ASX:QAN) share price
• Here’s what has been moving the CBA (ASX:CBA) share price in August 2021
• Nanosonics (ASX:NAN) share price up 28% after earnings beat and new product announcement
• Carbon Revolution (ASX:CBR) share price surges 14% on growth outlook

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 Ioneer Ltd (ASX: INR) share price achieved a record high today following a positive announcement by the emerging lithium-boron company.

During the first hour of market open, Ioneer shares touched an all-time high of 53.5 cents. However, some investors were quick to take profit off the table, sending the company’s shares back down.

At the time of writing, Ioneer shares are up 4.08% to 51 cents.

What did Ioneer announce?

According to today’s release, Ioneer advised it has awarded a major engineering design and equipment supply contract to Veolia Water Technologies (Veolia).

A leading specialist in water treatment, Veolia Water is a subsidiary of the Veolia group. The company designs and delivers drinking water and wastewater treatment plants as well as water treatment equipment.

Under the agreement, Veolia will begin work on a final detailed engineering design for the development of Ioneer’s Rhyolite Ridge Lithium-Boron Project. This will include using evaporation, crystallisation and dewatering equipment.

The contract, however, has been awarded on a limited notice to proceed basis. Essentially, this means Veolia will receive short notice on each stage of the project should it be given the green light.

Both Ioneer and Veolia have been working together since 2018 to demonstrate the feasibility of the process design. Veolia has conducted laboratory testing and simulated operations of key units consisting of clarification, ion exchange purification, evaporation and crystallisation.

Ioneer managing director Bernard Rowe commented:

We are very pleased to award this engineering design and equipment supply contract to Veolia, the largest supply contract we will award in the development of Rhyolite Ridge.

We have been working closely with Veolia over the past three years during the pilot plant and DFS phases and have developed a strong relationship and mutual respect. Veolia is a recognised leader in process design and engineering, with direct experience in developing solutions for lithium processing facilities. Veolia’s experience and capabilities are important to meet required purity standards in our production facilities.

Ioneer share price summary

During the past 12 months, Ioneer shares have accelerated by more than 380%, with year-to-date gains above 80%.

On valuation grounds, Ioneer commands a market capitalisation of roughly $961.6 million, with 1.9 billion shares on issue.

The post Here’s why the Ioneer (ASX:INR) share price hit an all-time high today appeared first on The Motley Fool Australia.

More reading

• Ioneer (ASX:INR) share price jumps following quarterly results

Motley Fool contributor Aaron Teboneras 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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The Qantas Airways Limited (ASX: QAN) share price has been on fire this week. Shares in Australia’s flag carrier are up 8.9% since Monday’s open in good news for shareholders.

Why it’s been a good week for the Qantas share price

Shares in the Aussie airline have climbed 5.2% higher in the last 5 days. That’s despite no new ASX announcements from Qantas since 3 August.

However, the gains have coincided with Qantas’ incentive scheme to get more Australians vaccinated. The Qantas share price edged lower on Monday but has since rocketed higher.

Qantas will be giving inoculated Australians 1,000 Qantas points, 15 status credits or a $20 flight voucher. There will also be 10 “mega prizes” on offer for eligible persons.

Qantas is due to release its FY21 earnings on Thursday in a hotly anticipated release.

Investors interested in the travel sector would be bracing themselves after Sydney Airport Holdings Pty Ltd (ASX: SYD)’s results last Friday.

Australia’s busiest airport reported an 81.7% increase in net losses after tax to $97.4 million with revenue down 31.3% to $351 million.

COVID-19 restrictions have presented “challenging” conditions with traffic numbers remaining subdued.

While Sydney Airport shares haven’t climbed in the days since, the Qantas share price has been on fire.

Alongside Thursday’s earnings result, Qantas investors may also be eyeing easing restrictions in New South Wales and around the country.

Optimism appears to be growing around easing border restrictions once the 70 to 80 per cent vaccination target is reached.

Foolish takeaway

The Qantas share price has shot 5.8% higher on Tuesday and is one to watch throughout the rest of the week.

With no new announcements and Qantas’ earnings expected on Thursday, there’s a fair bit happening for the Aussie airline. There is also building optimism around vaccination levels and the easing of COVID-19 restrictions later in the year

The post It’s been a good week for the Qantas (ASX:QAN) share price appeared first on The Motley Fool Australia.

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• Iron ore price plunge hurting most, but helping exporters. Plus, optimism the ticket to boost vaccinations. Scott Phillips on Sky News First Edition
• 10 ASX shares we’re overweight in right now: fund
• Qantas (ASX: QAN) share price falls amid campaign to reward vaccination
• ASX 200 Weekly Wrap: Miners drag ASX back to earth
• What can we learn from the Qantas (ASX:QAN) share price history?

Motley Fool contributor Ken Hall 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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The Commonwealth Bank of Australia (ASX: CBA) share price was an early star of this August ASX earnings season. It’s not quite as fresh now, but when CBA reported its FY21 earnings on 11 August, complete with a dividend hike and a $6 billion share buyback program, it caused quite the stir.

Not only did CBA shares rocket to a new all-time high of $109.03 a share shortly afterwards, it also prompted a rally in the entire ASX banking sector, and by extension, the S&P/ASX 200 Index (ASX: XJO) itself.

But now these earnings are in the rear-view mirror, and the CBA share price has cooled somewhat (it’s going for a flat $100 at the time of writing, up 0.06% for the day), it might be a good idea to gauge this bank’s performance over August so far. So let’s get into it.

How has the CBA share price perform over August so far?

Here’s a look at how the CBA share price has performed since the start of the month of August:

As you can see, it’s been a pretty wild rise for CBA over August so far. The company started the month at just under the $100 a share mark at $99.65. But that proved short lived. CBA spent the next week or two building up to its earnings, rising by almost 7% by the day before its earnings were released.

On the big day, CBA shares responded with unbridled enthusiasm. Soon after market open on 11 August, CBA was at its current new all-time high of $109.03.

But, as you can see above, that turned out to be the peak of CBA’s goodwill. Ever since its reporting date, the CBA share price has been edging lower. On today’s prices, the bank is now a hefty 8.3% down from that high watermark.

So a long story short, CBA’s August share price performance so far revolves around the earnings report the bank delivered on 11 August.

At the current share price of $100, CBA is now up 19.65% year to date in 2021 so far, and up 45.3% over the past 12 months. It’s also up 36.8% over the past 5 years.

This share price gives Commonwealth Bank a market capitalisation of $177.7 billion, a price-to-earnings (P/E) ratio of 21.3 and a dividend yield of 2.49%.

The post Here’s what has been moving the CBA (ASX:CBA) share price in August 2021 appeared first on The Motley Fool Australia.

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• Here’s what has been moving the ANZ (ASX:ANZ) share price in August 2021
• What’s moving the ASX 200 Index (ASX:XJO) on Monday?
• CBA (ASX:CBA) share price gaining as bank rolls out vax centres
• ASX 200 Weekly Wrap: Miners drag ASX back to earth
• Down 8%: Is the CBA (ASX:CBA) share price a buy?

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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The Nanosonics Ltd (ASX: NAN) share price has been an outstanding performer on Tuesday.

In afternoon trade, the infection prevention company’s shares are up a massive 28% to $7.52.

Though, despite this impressive gain, the Nanosonics share price is still down 9% year to date.

Why is the Nanosonics share price rocketing higher?

The catalyst for the rise in the Nanosonics share price today has been the release of its full year results and the announcement of a new product.

In respect to the former, for the 12 months ended 30 June, the company reported a 3% increase in revenue to $103.1 million and a 15% decline in net profit after tax to $8.6 million. The latter was well ahead of the market’s expectations, which goes some way to explaining the incredible rise by the Nanosonics share price today.

This stronger than expected result was driven by a significant recovery in the second half of the financial year. For example, management revealed that its second half revenue increased 39% over the first half.

Looking ahead, based on current trading conditions remaining consistent, management expects double-digit revenue growth in FY 2022.

What else is lifting its shares?

Also giving the Nanosonics share price a lift was the announcement of another new product – Nanosonics Coris.

The company expects Nanosonics Coris to transform the cleaning of flexible endoscopes. It notes that more healthcare-associated outbreaks have been linked to contaminated endoscopes than any other medical device.

It also notes that there’s a huge potential market opportunity. There are over 60 million flexible endoscopy procedures being conducted across the United States and the largest five markets in Europe alone every year and growing at 6% per annum.

Regulatory approval is still required and the company is currently targeting the first commercial launch to occur in calendar year 2023.

How does this compare to expectations?

The team at Goldman Sachs has been running the rule over the result. It notes that Nanosonics thoroughly outperformed the market’s earnings expectations.

It commented: “Revenue grew +3% vs. Visible Alpha consensus’ +0%, as a +2% beat in consumables more than offset the (6)% miss in capital. As flagged at 1H21, performance benefited from the resumption of orders from GE after sharp de-stocking at the start of the pandemic (c.50% of NAN sales). Earnings fell (15)% but came in materially ahead of consensus ($8.6m vs. $5.3m; +62%), almost entirely driven by an SG&A beat of +$3m ($53.6m vs. $57.0m).”

However, despite what the Nanosonics share price performance today might indicate, Goldman notes that the company’s guidance is below expectations.

It explained: “As widely expected, NAN saw a recovery in business performance in 2H (EBIT $0m in 1H21). Assuming the positive trend continues, NAN targets double digit growth in FY22, but the company expects FY22 gross margin to reduce from 78% (albeit remain >75%), and for operating expenses to approximate $90m.”

“For context, we currently forecast FY22 sales growth of +29%, gross margin of 78.6% and operating expenses of $80m. Assuming our sales forecast is correct, guidance implies (30)% downgrades to our FY22E EBIT forecast,” it added.

Goldman also gave feedback on the company’s new product.

It said: “Notably, the company has confirmed that the long-awaited new product platform (Coris) will be a cleaning device for flexible endoscopes (the consensus expectation). NAN quantifies the market at 60m procedures per annum (US & EU-5), with growth of +6%. However, the launch date has again been delayed, potentially by up to 18 months (now targeting CY23, from FY22 previously), which will be a further disappointment to the market.”

The broker currently has a sell rating and $4.93 price target on the Nanosonics share price. Though, that could change in the coming days once it has updated its financial model to reflect today’s release.

The post Nanosonics (ASX:NAN) share price up 28% after earnings beat and new product announcement appeared first on The Motley Fool Australia.

More reading

• Which ASX 300 shares are the biggest winners and losers on Tuesday?
• ASX 200 midday update: Kogan crashes, Nanosonics rockets
• Nanosonics (ASX:NAN) share price soars 17% on ‘significant recovery’

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. owns shares of and has recommended Nanosonics Limited. The Motley Fool Australia owns shares of and has recommended Nanosonics 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 Carbon Revolution Ltd (ASX: CBR) share price is charging higher today, up 14% at time of writing to $1.09 per share.

This follows on the release this morning of the carbon fibre wheel developer’s results for the 2021 financial year (FY21).

Carbon Revolution share price rockets on FY21 results

• Total revenue of $34.9 million, down from $38.9 million in FY20
• Gross loss of $14.3 million compared to a loss of $11.6 million the previous year
• Total expenses of $24.3 million, down from $17.8 million
• Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at a loss of $17.2 million, compared to a loss of $15.7 million in FY20

What happened during the reporting period for Carbon Revolution?

Carbon Revolution reported significant influences to its business from COVID-19, with many of its customers negatively impacted by the pandemic. Revenues also came under pressure from the global semi-conductor chip shortage.

The company said the first and second half of the financial year were markedly different. H1 saw production volumes decrease along with additional finishing costs. In H2 production volumes picked up and Carbon Revolution implemented its Diamond Weave Technology. That technology led to lower finish costs and improved wheel aesthetic quality.

Two new Ferrari vehicles were released in FY21 equipped with Carbon Revolution wheels.

The company also completed a $95 million capital raise to support its “Phase 1 Mega-line expansion”.

What did management say?

Commenting on the results, Carbon Revolution’s CEO Jake Dingle said:

The global vehicle market’s move toward electric vehicles and vehicles with large wheel formats represents a step change for the adoption of our wheel technology and the development of our company.

The broader industrialisation program is progressing, with Diamond Weave Technology introduced to dramatically improve the first-time aesthetic quality of the wheels. We have also commissioned a significant amount of new industrialised equipment, delivering the capacity required for awarded but not yet launched programs.

What’s next for Carbon Revolution?

Looking ahead, Carbon Revolution said that with a strong balance sheet and having advanced its industrialisation activities, it’s well positioned for the next stage of growth.

During the course of the year, the company secured agreements on 4 new wheel design and engineering programs. It said a “significant proportion of these” are higher volume platforms for EVs with large wheel formats. It expects these programs to enter production in the 2023 and 2024 calendar years.

The Carbon Revolution share price is down 29% over the past 12 months.

The post Carbon Revolution (ASX:CBR) share price surges 14% on growth outlook appeared first on The Motley Fool Australia.

More reading

• Which ASX 300 shares are the biggest winners and losers on Tuesday?
• Ansell (ASX:ANN) share price plunges 10% despite dividend boost
• The Bank of Queensland (ASX:BOQ) share price is now trading on a forecast 4.4% fully franked dividend yield
• Iron ore price plunge hurting most, but helping exporters. Plus, optimism the ticket to boost vaccinations. Scott Phillips on Sky News First Edition
• How did the Medibank (ASX:MPL) share price respond last earnings season?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Carbon Revolution Limited. The Motley Fool Australia has recommended Carbon Revolution 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 S&P/ASX 300 Index (ASX: XKO) is continuing to rebound today, after spending all of last week in the red.

At the time of writing, the ASX 300 is up 0.40% to 7, 518 points. This means that the index is 1.5% off from reaching its all-time high of 7,625 points.

Let’s take a look at which ASX companies are leading the charge today.

Nanosonics Ltd (ASX: NAN)

The Nanosonics share price is rocketing 22.24% to $7.20 after the infection prevention company released its full-year results.

Nanosonics delivered a solid performance for the backend of the 2021 financial year, citing improved trading conditions. Most notably, the global installed base along with ultrasound procedure volumes trended back towards pre-pandemic levels.

Furthermore, the company is forecasting double-digit growth should positive market trends continue.

The result was clearly better than what investors had expected the company to report, sending its shares to a 6-month high.

Event Hospitality and Entertainment Ltd (ASX: EVT)

Another big mover on the ASX 300 is the Event share price, up 9.70% to a 52-week high of $14.53.

While the entertainment company reported its full-year results yesterday, it appears investors are looking past its disappointing numbers.

Event highlighted that while current COVID-19 lockdowns continue to hamper the business, it has seen a strong return to cinemas. Customers are spending more than before the pandemic began when quality films are showing.

In light of this, when vaccine numbers increase and Australia moves to post-COVID-19, future performance could stage a strong comeback.

Uniti Group Ltd (ASX: UWL)

The Uniti share price is accelerating 9.67% to a record high of $4.31 today following the telecommunications provider’s full-year results.

Uniti reached its highest revenue ever in the company’s history, attaining $159.9 million, up 175% on the prior corresponding period. The outstanding achievement came from several acquisitions and an increased number of secured premises.

The company’s national digital infrastructure footprint now spans across 1,199 sites in Australia.

Monadelphous Group Ltd (ASX: MND)

The worst performer on the ASX 300 today is the Monadelphous share price, down 14.50% to $10.08. This comes after the engineering company provided investors with its FY21 full-year results today.

While the performance of the 2021 financial year was positive, Monadelphous noted that FY22 would be challenging. Management revealed COVID-19 impacts and skills labour shortage could hamper the company’s operations.

Kogan.com Ltd (ASX: KGN)

Lastly, Kogan shares also crashed on Tuesday, declining 13.75% to $11.325. The e-commerce company also released its full-year results for the 2021 financial year.

Kogan stated that while revenue jumped by 56.8% to $780.7 million, its net profit after tax fell by 86.8% to $3.5 million. The business attributed the severe loss to inventory management issues, such as overstocking which led to increased storage costs.

Furthermore, the company refrained from paying a final dividend to shareholders, instead opting to conserve cash.

The post Which ASX 300 shares are the biggest winners and losers on Tuesday? appeared first on The Motley Fool Australia.

More reading

• Why Ansell, Kogan, Monadelphous, & NIB shares are tumbling lower
• Kogan (ASX:KGN) dividend scrapped, share price plummets
• ASX 200 midday update: Kogan crashes, Nanosonics rockets
• Uniti Group (ASX:UWL) share price soars on record revenue in FY21
• FY 2021 results: Monadelphous (ASX:MND) share price crashes 14% on subdued outlook

Motley Fool contributor Aaron Teboneras 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 Kogan.com ltd and Nanosonics Limited. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd and Nanosonics Limited. The Motley Fool Australia has recommended Uniti 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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The Ansell Limited (ASX: ANN) share price is down around 10% at the time of writing. That’s despite the glove-making business revealing an enormous increase to its dividend with its FY21 payout.

How big is the FY21 dividend?

In US dollar terms, Ansell announced that it was increasing its annual dividend per share from 50 cents to 76.8 cents. In percentage terms, this means that Ansell is increasing its annual dividend by 53.6% for shareholders.

The final dividend payment is 43.6 cents per share, which was not far off the entire FY20 dividend payment.

Ansell said that the annual payout represents a dividend payout ratio of 40%.

Why is the Ansell share price falling?

You’d have to ask the buyers and sellers of Ansell shares today why they transacted at the prices they did for the true reason.

But Ansell did include some comments about its FY22 outlook along with its FY21 result (which showed a sizeable rise in profit).

The company explained that it has a diversified portfolio with products supplying a variety of customers in different countries. Ansell expects continued demand for mechanical, surgical, life sciences and internally manufactured single use gloves. However, management warned that lower demand is expected in areas which have benefited the most from COVID-19 demand, such as chemical body protection and undifferentiated exam/single use gloves.

Ansell believes that pricing is expected to feature throughout FY22, positively and negatively.

The company believes that from a supply perspective, recent capacity investments should support sustained demand. However, Ansell admitted that increased COVID-19 cases in South East Asia in the recent months may disrupt supply because a number of Ansell’s factories and suppliers in the region have had short-term closures or reduced operations. It may impact sales during the first half of FY22.

Increased costs may also be a factor – higher freight costs and shipping delays are expected to persist throughout FY22.

Including accounting changes relating to software amortisation, and larger investments in software, Ansell is expecting FY22 earnings per share (EPS) to be between 175 cents to 195 cents. That compares to FY21 EPS of 192.2 cents (which was an increase of 59.9%).

The Ansell share price is still up in 2021

Despite the setback today, the Ansell share price is up 3.6%. The Ansell dividend was driven higher because the company did make much higher profit over the financial year. This was reported in the FY21 result. Sales grew 25.6%, earnings before interest and tax (EBIT) went up 56% and net profit rose 57.5% to US$246.7 million.

The post Ansell (ASX:ANN) share price plunges 10% despite dividend boost appeared first on The Motley Fool Australia.

More reading

• Why Ansell, Kogan, Monadelphous, & NIB shares are tumbling lower
• Ansell (ASX:ANN) share price on watch after 57% profit surge
• Revealed: The biggest shocker from results season
• 2 COVID-19 ASX shares that could be buys

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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Ansell 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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The Bank of Queensland Limited (ASX: BOQ) share price has been an impressive performer in 2021.

Since the start of the year, the regional bank’s shares have risen 22%.

This is almost double the return of the S&P/ASX 200 Index (ASX: XJO) over the same period.

Why is the Bank of Queensland share price charging higher this year?

Investors have been bidding the Bank of Queensland share price higher this year thanks to its return to form in FY 2021 and the acquisition of ME Bank for $1.3 billion.

In respect to the former, during the first half of FY 2021, the company reported a 9% increase in cash earnings to $165 million and a 66% lift in statutory net profit after tax to $154 million.

This ultimately underpinned a sizeable 54% increase in the Bank of Queensland interim dividend to 17 cents per share, fully franked.

Is it too late to invest?

The good news is that the team at Credit Suisse still see a lot of value in the Bank of Queensland share price. They are also expecting the Bank of Queensland dividend to provide investors with an attractive yield in FY 2021.

According to the note, the broker has an outperform rating and $11.50 price target on the company’s shares.

Based on the latest Bank of Queensland share price of $9.18, this implies potential upside of 25% over the next 12 months before dividends.

What about the Bank of Queensland dividend?

If you include the forecast Bank of Queensland dividend, this potential return becomes even more attractive.

Credit Suisse is expecting a fully franked final dividend of 22 cents per share. This will bring its full year dividend to 40 cents per share. Based on this forecast and its current share price, its shares will provide investors with a fully franked 4.4% yield.

But it doesn’t stop there. Positively, another increase to 42 cents per share is being forecast by Credit Suisse in FY 2022.

All in all, this could make the Bank of Queensland dividend a top option for income investors right now.

The post The Bank of Queensland (ASX:BOQ) share price is now trading on a forecast 4.4% fully franked dividend yield appeared first on The Motley Fool Australia.

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

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