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One ASX shares fund has revealed the 10 companies that it’s betting on to provide maximum returns as Australia recovers from the current COVID-19 resurgence.

The Firetrail Australian High Conviction Fund only contains about 25 stocks in its portfolio, so the 10 investments it publicised in its latest update are relatively large stakes.

The fund claims to have a high 80% active share, meaning the majority of its investments are different to what the rest of the market possesses.

Re-opening beneficiaries

Some of Firetrail’s overweight ASX shares are post-pandemic “re-opening” beneficiaries — like Qantas Airways Limited (ASX: QAN) and gambling machine provider Aristocrat Leisure Limited (ASX: ALL).

Qantas’ narrative is obvious. Eventually, the world will return to something resembling pre-COVID life, and air travel volumes will multiply from the current nadir.

Similarly, gambling sites like pubs and casinos will start to see more patronage in the coming years, allowing Aristocrat to cash in.

Aristocrat shares are already up more than 40% this year. Qantas is down 10.6% after the Delta variant of COVID-19 killed off the recovery of its domestic operations in recent months.

Housing construction will also pick up, as the winding down of COVID restrictions will allow more productive building sites and consumer confidence to start new projects.

Firetrail’s update named BlueScope Steel Limited (ASX: BSL) and James Hardie Industries plc (ASX: JHX) as overweight shares in its portfolio, benefitting from “strong demand while taking market share in their categories”.

Yarra Capital Management head of Australian equities Dion Hershan this week also named Aristocrat and James Hardie as safe havens in the inflationary climate.

He told clients his team has currently a “preference to skew our portfolios towards high-quality companies, in attractive industry structures with strong pricing power”.

James Hardie shares have risen more than 37% for the year-to-date.

Finance and ‘defensive’ ASX shares

The Firetrail team made it clear it was staying well away from Australian banks.

But it does like the look of some ASX finance stocks outside of banking, namely QBE Insurance Group Ltd (ASX: QBE), Insurance Australia Group Ltd (ASX: IAG) and Medibank Private Ltd (ASX: MPL).

Private health insurer Medibank has seen its shares rise more than 18% this year. Insurers QBE and IAG have both seen 10% and 6.6% rises respectively in the past month.

The Firetrail Australian High Conviction Fund is also going overweight on a trio of “undervalued defensive companies” — Telstra Corporation Ltd (ASX: TLS), Newcrest Mining Ltd (ASX: NCM) and Crown Resorts Ltd (ASX: CWN). 

Meanwhile, similar to the big banks, Firetrail is avoiding iron ore-related stocks.

The post 10 ASX shares we’re overweight in right now: fund appeared first on The Motley Fool Australia.

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• Top broker tips Newcrest (ASX:NCM) share price to have a golden 12 months
• Revealed: The biggest shocker from results season
• The Telstra (ASX:TLS) share price has gained 23% in the last 6 months
• Qantas (ASX: QAN) share price falls amid campaign to reward vaccination
• ASX 200 Weekly Wrap: Miners drag ASX back to earth

Motley Fool contributor Tony Yoo owns shares of Qantas Airways Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Insurance Australia Group Limited and Telstra Corporation 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 Temple & Webster Group Ltd (ASX: TPW) share price has been a strong performer over the last few weeks.

Since this time last month, the online furniture and homewares retailer’s shares have stormed 17% higher.

This compares to a 1.3% gain by the S&P/ASX 200 Index (ASX: XJO) over the same period.

Why is the Temple & Webster share price on fire?

Investors have been bidding the Temple & Webster share price higher this month following the release of its full year results at the end of July.

For the 12 months ended 30 June, Temple & Webster delivered an 85% increase in revenue to $326.3 million and a 141% jump in EBITDA to $20.5 million.

A key driver of its growth in FY 2021 was another strong increase in customer numbers. At the end of the period, Temple & Webster’s active customers were up 62% year on year to 778,000. This means the company added 100,000 new active customers in the second half of the financial year.

Positively, its strong form has continued early in the new financial year, with revenue increasing 39% over the prior corresponding period between 1 July to 24 July.

Can its shares go higher?

The good news is that the team at Morgan Stanley believe Temple & Webster’s shares can still climb higher from here.

In response to its full year results, the broker retained its overweight rating and lifted its price target on Temple & Webster’s shares to $16.00.

Based on the latest Temple & Webster share price of $13.60, this represents potential upside of almost 18% over the next 12 months.

Its analysts believe that Temple & Webster can grow its revenue by ~30% per annum in the coming years, putting it on course to hit $1 billion in revenue by FY 2026.

The post Top broker names Temple & Webster (ASX:TPW) share price as a buy appeared first on The Motley Fool Australia.

More reading

• 2 ASX COVID-19 shares reporting big growth
• These are the 10 most shorted ASX shares
• Here are 3 buy-rated ASX growth shares
• Why the Temple and Webster (ASX:TPW) share price has jumped 18% in a month
• 2 top ASX shares to buy according to WAM

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 Temple & Webster Group Ltd. The Motley Fool Australia has recommended Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Iron ore bulls might want to look away following an 18% slide in the BHP Group Ltd (ASX: BHP) share price since its record open of $54.06 on 4 August.

Shares in the iron ore major have tanked to a 7-month low. This is broadly in line with the recent weakness in iron ore prices.

Iron ore spot prices are currently fetching ~US$160/tonne, losing almost a third in value since May record highs of ~US$230/tonne.

While things were going great for the BHP share price during iron ore’s ascent to all-time highs, it is now unravelling.

Analysts say pressure will persist for iron ore

China’s steel production mandates and commitment to decarbonisation appear to be the main drivers of weakness behind iron ore prices. As a consequence, the BHP share price also has been driven down.

Mining.com quotes Commonwealth Bank commodities analyst Vivek Dhar as saying:

The fall in prices was linked to weaker steel demand conditions in the property and infrastructure sectors in China.

Weaker demand conditions in both these crucial sectors only reaffirmed market anxieties that China’s steel output cuts in H2 2021 are inevitable.

Morgan Stanley warned that iron ore could fall further due to China’s weak steel demand, according to Mining.com.

Federal Reserve to tighten monetary policy

Another factor weighing on iron ore prices, and consequently the BHP share price, is commentary from the US Federal Reserve.

There are increasing concerns that the Federal Reserve might tighten its accommodative monetary policy stance in the near term.

Its most recent July meeting minutes were released on 18 August. In it, the Fed cited that “several participants noted that an earlier start to tapering could be accompanied by more gradual reductions in the purchase pace…”

These expectations have lifted the US currency, which historically has an inverse relationship with commodity prices.

The value of the US dollar influences commodity prices because the dollar is used as the benchmark pricing mechanism for most commodities. Hence why we refer to iron ore spot prices in US dollars.

As dollar-denominated metals become more expensive, it could be a factor weighing on demand.

BHP share price snapshot

The BHP share price tumbled 6.35% to $44.37 on 19 August. That was the day after the Fed July meeting minutes were released. BHP’s market capitalisation is currently $130.81 billion.

The post BHP (ASX:BHP) share price free falls in August, analysts say iron ore pressures will persist appeared first on The Motley Fool Australia.

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• Pilbara Minerals (ASX:PLS) share price bounces back, up 8% on Monday
• What’s moving the ASX 200 Index (ASX:XJO) on Monday?
• ASX 200 Weekly Wrap: Miners drag ASX back to earth
• Can the Western Areas (ASX:WSA) takeover prompt BHP (ASX:BHP) to go nickel shopping?

Motley Fool contributor Kerry Sun 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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With savings accounts and term deposits still providing very low interest rates, the share market arguably remains the best place to earn a passive income.

But which ASX dividend shares should you consider buying? Two that this top broker rates highly are listed below:

Charter Hall Social Infrastructure REIT (ASX: CQE)

The first dividend shares to look at is the Charter Hall Social Infrastructure REIT. It is a real estate investment trust focused on social infrastructure properties. These include specialist use properties with low substitution risk such as childcare centres and government properties.

The Charter Hall Social Infrastructure REIT was on form in FY 2021. The company recently released its full year results and revealed a 13.5% increase in operating earnings to $58 million. It also advised that it ended the period with a weighted average lease expiry of 15.2 years and 73.2% of its properties on fixed rent reviews. Combined with its 100% occupancy rate, this bodes well for the future.

Goldman Sachs currently has a conviction buy rating and $3.81 price target on the company’s shares. Furthermore, based on the current Charter Hall Social Infrastructure REIT share price of $3.60, the broker expects its shares to provide yields of ~4.6% in FY 2022 and ~4.8% in FY 2023.

National Australia Bank Ltd (ASX: NAB)

Another ASX dividend share to consider is this banking giant. It could be a good option due to the favourable outlook for the sector right now. This is thanks to Australia’s strong economic recovery from the pandemic and the thriving housing market. And while current lockdowns have put a dampener on near term trading conditions, another rebound is expected once restrictions ease.

Another positive is the recent deal to acquire Citibank’s Australian consumer business. This gives NAB exposure to an area it was significantly underweight and could bode well for future growth.

The team at Goldman Sachs are very positive on NAB. This is due to the bank’s cost management initiatives, its position as the largest business bank, excellent margin management, and its strong capital position.

The broker has a conviction buy rating and $30.62 price target on the bank’s shares. And based on the current NAB share price of $27.39, Goldman expects yields of 4.5%, 5%, and 5.3%, respectively, between FY 2021 and FY 2023.

The post Top broker names 2 ASX dividend shares to buy appeared first on The Motley Fool Australia.

More reading

• What’s moving the ASX 200 Index (ASX:XJO) on Monday?
• ASX 200 Weekly Wrap: Miners drag ASX back to earth
• 2 ASX shares with generous fully franked dividend yields
• Analysts name 2 ASX dividend shares with attractive yields as buys
• August has been a great month so far for the NAB (ASX:NAB) share price

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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The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price has risen 23% in the calendar year to date. It has risen 55% over the last 12 months.

But that’s old news. It hasn’t actually done much in the last few months. It is virtually flat since early March 2021.

However, just because ANZ shares haven’t done much doesn’t mean that analysts think it’s a sell (or buy, either).

So what do analysts think?

Mixed views on the ANZ share price

One view is Citi’s, it thinks ANZ shares are a sell with a price target of $28. It thinks that ANZ’s core profit is going to be weaker and it has only been ‘markets’ that have helped keep revenue as high as it is.

Credit Suisse is another broker that believes that ANZ shares aren’t a buy. Though it doesn’t go as far as calling it a sell – it’s neutral on the business. However, it also noted the markets earnings were likely to be hurting because of the current conditions.

What has the market been told recently?

The latest material update out of the big four ASX bank has been its capital management update.

ANZ’s board decided that the bank would buy back up to $1.5 billion of ANZ shares on-market as part of its capital management plan.

The bank’s reported level 2 common equity tier 1 capital (CET1) ratio at 31 March 2021 was 12.4%, which was materially above APRA’s stated ‘unquestionably strong’ capital requirement of 10.5%.

This on-market buy-back is expected to reduce ANZ’s March 2021 CET1 ratio by approximately 35 basis points.

At the time, ANZ CEO Shayne Elliot said:

After taking into consideration the ongoing pressures in some parts of the economy due to COVID, including the current lockdowns in parts of the country, the strength of our balance sheet and ongoing financial performance means we are in a position to return a modest amount of surplus capital to shareholders through a buy-back of shares on-market.

Just as we supported our customers through previous lockdowns we stand ready and able to provide assistance to those that need it. The strength of our business means we are well placed to fulfil needs of our customers and the broader community while still actively managing our capital.

Since 19 July 2021, the ANZ share price has risen by 4%.

Prior to that, ANZ reported its FY21 first half result. The major bank revealed that its statutory profit after tax had risen by 45% to $2.94 billion compared to the second half of FY20. Continuing operations cash profit was up 28% to $2.99 billion.

In that result, ANZ’s board also decided to double its dividend from $0.35 per share to $0.70 per share.

However, the HY21 report was heavily influenced by a total provision release of $491 million. Profit before credit impairment and tax was actually down 10% to $3.94 billion.

What is the ANZ share price valuation?

Credit Suisse reckons ANZ shares are valued at 13x FY21’s estimated earnings with a projected grossed-up dividend yield of 7%.

Citi has a lower earnings projection for FY21. It thinks the ANZ share price is valued at 14x FY21’s estimated earnings, but also with a grossed-up dividend yield of around 7%.

The post Is the ANZ (ASX:ANZ) share price a buy right now? appeared first on The Motley Fool Australia.

More reading

• 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?
• ASX 200 Weekly Wrap: Miners drag ASX back to earth
• 2 ASX 200 dividend shares with big yields
• Leading broker thinks the ANZ (ASX:ANZ) share price can keep rising

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 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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There are a lot of options for investors to choose from on the Australian share market.

Two that could be worth getting better acquainted with are listed below. Here’s what you need to know about these growing companies:

Nearmap Ltd (ASX: NEA)

The first ASX share to look at is Nearmap. It is an aerial imagery technology and location data company with operations in Australia and North America. Nearmap’s products give businesses instant access to high resolution aerial imagery, city-scale 3D datasets, and integrated geospatial tools.

Last week the company released its full year results and revealed annual contract value (ACV) grow of 26% to $128.2 million. This was driven by strong growth in its North American business, which reported ACV of US$44.5 million. This was up 54% from US$28.8 million a year ago.

Looking ahead, while no guidance was given with its results, management has a long term growth target in place. This is for ACV growth of 20% to 40% per annum, with underlying churn of less than 10%.

Morgan Stanley remains very positive on the company. Last week it retained its overweight rating and $3.20 price target on the company’s shares. This compares to the latest Nearmap share price of $2.10.

NEXTDC Ltd (ASX: NXT)

Another ASX growth share to look at is NEXTDC. It is Australia’s leading data centre operator with an expanding collection of world-class centres located across the country. But it isn’t settling for that, the company is currently looking to enter both the Singapore and Tokyo markets. If this expansion is a success, it could provide NEXTDC with a huge market opportunity to grow into.

In the meantime, NEXTDC continues to generate significant revenue and earnings in the local market. For example, during the first half of FY 2021, the company posted a 27% increase in data centre services revenue to a record $121.6 million and a 29% increase in EBITDA to $65.7 million. This was underpinned by a 33% lift in contracted utilisation to 71MW, a 16% lift in customers, and a 16% rise in interconnections.

The good news is that later this month a similarly strong full year result is expected to be announced. And with a large amount of its future capacity additions already contracted, this positive form looks set to continue for the foreseeable future.

UBS is bullish on NEXTDC. Its analysts currently have a buy rating and $15.40 price target on its shares. This compares to the latest NEXTDC share price of $13.62.

The post 2 excellent ASX growth shares appeared first on The Motley Fool Australia.

More reading

• Which ASX companies are the top movers in the ASX 300 today?
• ASX 200 midday update: NIB sinks and Sonic falls on full year results
• Why Zip (ASX:Z1P) and these growth shares could be buys
• Nearmap (ASX:NEA) share price on watch after FY21 results
• How did the Nearmap (ASX:NEA) share price respond last earnings season?

Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Nearmap Ltd. The Motley Fool Australia owns shares of and has recommended Nearmap 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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There are a group of ASX shares that many brokers like at the same time.

Brokers are constantly scouring the share market for potential investments that they believe are opportunities. If multiple brokers like a business simultaneously then that may suggest that it’s an opportunity. Or they may all be wrong at the same time.

At the moment, these two ASX shares are strongly liked by multiple brokers:

EML Payments Ltd (ASX: EML)

EML Payments is currently rated as a buy by at least three brokers, including UBS.

The broker currently has a price target of $4.80 on EML Payments, which suggest the EML share price could increase by around 25% over the next 12 months, if the broker is right.

The payments business recently reported its FY21 result. It revealed that gross debit volume (GDV) increased 42% to $19.7 billion, driving revenue up 60% to $194.2 million.

Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 65% to $53.5 million. Underlying net profit (NPATA) increased 54% to $32.4 million and operating cashflow rose 121% to $48.8 million.

The segment that experienced the lion’s share of the growth was general purpose reloadable (GPR), which saw revenue increase from $41.9 million to $113.5 million. Part of this growth was the PFS business contributing for a full 12 months, but the existing EML business also generated 34% of growth.

In FY22, the ASX share is expecting to generate underlying EBITDA in a range of between $58 million to $65 million.

Regarding the Central Bank of Ireland’s (CBI) regulatory action, EML said it has provided CBI with a detailed remediation plan addressing the raised concerns. This plan is expected to be substantively complete by the end of the 2021 calendar year, with remaining items finished by the end of the March 2022.

UBS said that the CBI action is an important positive when looking at what the market was expecting, and it seems EML is likely to keep its licence.

According to UBS, the EML share price is valued at 30x FY23’s estimated earnings.

Seven West Media Ltd (ASX: SWM)

Seven West is currently rated as a buy by at least four brokers, including analysts at Macquarie Group Ltd (ASX: MQG). The broker has a price target on the media business of $0.77. That implies the Seven West share price could increase by 75% over the next 12 months, if the broker is right.

Macquarie is positive on Seven West Media’s shorter-term prospects, though it also noted the increase of costs which are predominately from the Ashes and the Olympics.

Seven West reported that the metropolitan free to air TV advertising market rebounded strongly, up 25.8% in the second half of FY21 and up 11.5% for the whole of FY21.

Seven’s digital revenue increased by 78% year on year, with video on demand market growth of 55%.

There was a large increase in revenue from the ASX share, but operating expenses also declined by 7.5% to $1.02 billion (which excludes depreciation and amortisation). The ASX share’s underlying earnings before interest and tax (EBIT) soared 141% year on year to $229 million, whilst net debt reduced 40% to $240 million.

It made a statutory profit after tax of $318.1 million, up from a loss of $201.2 million in FY20.

The broker thinks that Seven West is valued at just 4x FY23’s estimated earnings.

The post 2 ASX shares rated as strong buys by brokers appeared first on The Motley Fool Australia.

More reading

• EML (ASX:EML) share price plunges 8% after reporting record results
• When was the worst ever day on the EML (ASX:EML) share price chart?
• Seven West Media (ASX:SWM) share price falls 5% on FY21 earnings
• Why the EML (ASX:EML) share price is gaining today
• What’s going on with the EML Payments (ASX:EML) share price?

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. owns shares of and has recommended EML Payments. The Motley Fool Australia owns shares of and has recommended EML Payments and Macquarie 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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On Monday the S&P/ASX 200 Index (ASX: XJO) started the week on a much-needed positive note after a poor run. The benchmark index finished the day 0.4% higher at 7,489.9 points.

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

ASX 200 expected to edge higher

The Australian share market is expected to rise slightly on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 4 points higher this morning. This follows a very positive start to the week on Wall Street, which saw the Dow Jones rise 0.6%, the S&P 500 climb 0.85%, but the Nasdaq storm 1.6% higher.

Kogan results

The Kogan.com Ltd (ASX: KGN) share price will be on watch this morning when it releases its full year results. While the ecommerce company has pre-released some of its numbers, there’s still a lot to look out for. This includes its profit for the year, an update on its inventory issues, and a trading update for the first seven weeks of FY 2022. The latter is expected to have been boosted by lockdowns.

Oil prices jump

Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could have a strong day after oil prices jumped. According to Bloomberg, the WTI crude oil price is up 5.3% to US$65.42 a barrel and the Brent crude oil price has jumped 5.2% to US$68.54 a barrel. News of no new COVID cases in China and weakness in the US dollar gave oil prices a boost.

Gold price rises

It could be a good day for gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) after the gold price stormed higher. According to CNBC, the spot gold price is up 1.3% to US$1,807 an ounce. Traders were buying gold amid doubts that the US Fed will taper soon.

SEEK results

The SEEK Limited (ASX: SEK) share price will be one to watch today when it releases its full year results. According to a note out of Goldman Sachs, its analysts expect the job listings giant to report a 1% increase in revenue to $1,588 million and a 20% jump in EBITDA to $498 million. The latter compares to SEEK’s guidance of $480 million and the market consensus estimate of $487 million. Looking ahead, Goldman expects “FY22 Revenue/EBITDA of A$1,166/$460mn vs. consensus A$1,166/$472mn).”

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

More reading

• ASX 200 rises, NIB plummets, Sonic drops
• Here are the top 10 ASX 200 shares on Monday
• How do BHP (ASX:BHP) earnings compare to Woodside Petroleum’s?
• These are the 10 most shorted ASX shares
• Here’s how the Kogan (ASX:KGN) share price responded last reporting season

Motley Fool contributor James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Kogan.com ltd. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd. The Motley Fool Australia has recommended SEEK 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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It is a fresh new week for the ASX reporting season. A handful of big-name companies reported results to the market today. However, these 3 companies experienced significant moves on the back of their earnings.

We’ll quickly unpack today’s results and then wrap things back up for tomorrow:

Those that reported on the ASX today

Charter Hall Group (ASX: CHC)

Shares in Charter Hall Group gained 6.5% after the property fund manager reported its FY21 full-year results. Investors responded with optimism after the group noted an 18.8% increase in its property investment portfolio value.

The takeaway points:

• Operating earnings of $284.3 million
• Operating earnings per security (OEPS) post-tax of 61.0 cents per share (cps)
• Statutory profit of $476.8 million, after tax attributable to shareholders
• 5% return on contributed equity
• Declared full year dividend of 37.9 cps

Ampol Ltd (ASX: ALD)

The Ampol share price moved to the downside after reporting on the ASX its full-year results for FY21. Shares in the fuel retailer sank 4.76% lower as shareholders took in the company’s NZ$2 billion proposition to acquire Z Energy.

The takeaway points:

• Fuels & Infrastructure EBIT up 86% to $208 million
• Convenience Retail EBIT increased 19.2% to $149 million
• Corporate costs lifted 12.5% to $18 million
• Group RCOP EBIT jumped 53.8% to $340 million
• RCOP net profit after tax up 70.8% to $205 million
• Fully franked interim dividend of 52 cents per share
• NZ$2 billion offer to acquire Z Energy

NIB Holdings Limited (ASX: NHF)

The NIB share price plummetted on Monday despite the health insurer reporting a meaningful rise in its full-year earnings for FY21. Shares in the company lost just over 11% after failing to impress the market.

The takeaway points:

• Total group revenue of $2.6 billion, up 2.9% on the prior corresponding period (FY20 $2.5 billion);
• Group expense claim of $2 billion, up 2.5% (FY20 $1.95 billion);
• Group underlying operating profit (UOP) of $204.9 million, up 39.5% (FY20 $146.9 million);
• Net profit after tax (NPAT) of $160.5 million, up 84.5% (FY20 $87 million); and
• Fully-franked final dividend of 14 cents per share, up from 4 cents per share.

ASX shares reporting next week

Today could be described as a gradual easing into the new week for ASX reporting. However, tomorrow will be bear witness to far more ASX-listed shares releasing their financial metrics.

Some of the big-name companies set to release their financials tomorrow include Kogan.com Ltd (ASX: KGN), SEEK Limited (ASX: SEK), Boral Ltd (ASX: BLD), Oil Search Limited (ASX: OSH), HUB24 Ltd (ASX: HUB), and Viva Energy Group Ltd (ASX: VEA).

To see the full line-up check out our ASX Reporting Season Calendar.

The post The ASX reporting wrap-up: Charter Hall, Ampol, NIB Holdings appeared first on The Motley Fool Australia.

More reading

• ASX 200 rises, NIB plummets, Sonic drops
• Why Charter Hall, IGO, Vulcan, & Z Energy shares are storming higher
• Charter Hall (ASX:CHC) share price surges 6% on $477 million FY21 profit
• NIB (ASX:NHF) dividend up 70%, shares sink regardless
• Which ASX companies are the top movers in the ASX 300 today?

Motley Fool contributor Mitchell Lawler 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 NIB Holdings 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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Are you wanting some dividend shares to boost your income portfolio? If you are, then you may want to look at the ones listed below.

Here’s why these ASX dividend shares have been named as buys:

Aurizon Holdings Ltd (ASX: AZJ)

The first ASX dividend share to look at is Aurizon. It is Australia’s largest rail freight operator, transporting more than 250 million tonnes of Australian commodities each year.

Given how reliant the Australian economy is on commodity exports, Aurizon’s network is hugely important and has strong (but regulated) pricing power.

It recently released its full year results and reported a 1% decline in revenue to $3.019 billion and a flat net profit after tax of $531 million.

While not the strongest result we’ve seen this month, it was in line with expectations.

In light of this, the team at Credit Suisse remain positive on the company. The broker has an outperform rating and $5.30 price target on its shares.

Credit Suisse is also expecting very generous dividends in the near term. It is forecasting dividends per share of 29.5 cents in FY 2022 and then 30.9 cents in FY 2023. Based on the latest Aurizon share price of $3.87, this will mean yields of 7.6% and 8%, respectively.

Scentre Group (ASX: SCG)

Another ASX dividend share to look at is Scentre. It owns and operates a portfolio of retail real estate assets valued at $50 billion and shopping centre ownership interests valued at $34.1 billion. This comprises 42 Westfield living centres.

After a tough period, things are starting to look a lot more positive, save for current lockdowns. This is due to very favourable Australian inflation expectations.

Goldman Sachs sees this as a big positive for Scentre due to it being far more positively leveraged to inflation than any other Australian real estate investment trust under coverage. In fact, Goldman estimates that 70%+ of its base rental income is subject to inflation-linked escalation.

The broker has a buy rating and $3.29 price target on the company’s shares. Furthermore, based on the latest Scentre share price of $2.55, Goldman is forecasting generous dividend yields of 5%+ over the next couple of years.

The post 2 ASX dividend shares named as buys 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 recommended Aurizon Holdings 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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