The Lynas Malaysia plant treats concentrate from Mt Weld in Western Australia. It also produces separated rare earth oxide products for sale to customers across Asia, Europe and North America.
What might move the Lynas share price on Monday?
Malaysia COVID-19 update
Lynas advised that its Malaysia plant continues to operate at a reduced rate. This is in line with its commitment to the health and safety of its employees. It is also to comply with local government standard operating procedures.
The company highlighted the vaccination of team members as an important step in protecting the health and safety of local workers. Participation in vaccination is part of the Malaysian Government’s recovery plan, on the path to relaxing certain lockdown policies.
Lynas advised that 98% of its staff in Malaysia have received their first vaccination dose. And 94% have received their second dose.
Today’s announcement provided no specific production guidance.
Lynas’ update for the quarter ending in June flagged that staff numbers on site were limited to 40% of the total workforce. Despite various COVID-19 and resource-related challenges, Lynas Malaysia was operating at approximately 75% of production rates.
New Malaysia facility approvals
Another potential catalyst for the Lynas share price is its update related to construction commencing on the Permanent Disposal Facility. This facility treats low-level radioactive waste in Malaysia.
Lynas advised that local regulators have extended the deadline for the satisfaction of the licence condition by 6 months to 2 March 2022. The company said that it continues to engage productively with the relevant government and regulatory authorities to progress approvals for the facility.
Anti-Lynas activists appeal
The prospect of radioactive waste has concerned many locals. This is following the government’s decision to renew the company’s rare earth plant licence.
On 28 July, the High Court of Malaya dismissed the judicial review proceedings commenced by the anti-Lynas activists. The activists are seeking a review of processes after the Government of Malaysia renewed Lynas Malaysia’s fourth operating licence in August 2019.
According to today’s announcement, Lynas received a notice of appeal by anti-Lynas activists.
Lynas said that it intends to defend the appeal.
Lynas share price snapshot
The Lynas share price has tumbled 18% in a week to a close of $6.33 on Friday.
Still, Lynas shares are up a pleasing 59% year to date and 155% over the last 12 months.
Should you invest $1,000 in Lynas Rare Earths right now?
Before you consider Lynas Rare Earths, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Lynas Rare Earths wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
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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The Sonic Healthcare Limited (ASX: SHL) share price will be in the spotlight on Monday after the company released its FY21 full-year results this morning.
Sonic Healthcare share price in focus after bumper profit result
The Sonic Healthcare share price could be a mover following a well-rounded financial performance in FY21. Key highlights include:
Revenue of $8.8 billion, up 28% on the prior corresponding period (pcp).
The Sonic Healthcare share price has rallied strongly in FY21, thanks to its resilient base business and active role in combating the COVID-19 pandemic.
The company has performed approximately 30 million COVID-19 PCR tests to date across ~60 Sonic laboratories globally.
The results noted that COVID-19 PCR volumes were lower in the second half of the year versus the first half, but have been increasing post-year end with the spread of the Delta variant.
Its base business revenue (excluding COVID testing) grew 6% compared to FY20 and was up 4% versus FY19.
Sonic Healthcare’s EBITDA surged 81%, again enhanced by COVID-19 testing and leveraging existing infrastructure. The company’s laboratory businesses across ANZ, USA and Europe contribute approximately 88% of Group revenues, and the company was pleased to highlight a significant improvement in EBITDA margins
EBITDA margins for its Laboratory division increased from 21.3% to 30.8%. At the same time, Sonic Healthcare’s medical imaging business reported 24% EBITDA growth and 108 basis points of margin improvement.
Management commentary
Sonic Healthcare’s CEO Dr Colin Goldschmidt commented on the results, saying:
As a global healthcare organisation, we have continued to play a major role in combating the COVID19 pandemic, by providing 30 million PCR tests and over 2 million serology tests to date. We are also proud to be the largest non-government provider of COVID-19 vaccinations in Australia.
Goldschmidt also shed light on the company’s strategic focus on acquisitions:
In addition to organic growth, Sonic continues to focus on synergistic acquisitions and other growth opportunities, supported by our current record low gearing levels, geographic footprint, leading market positions and brands, and our deeply embedded Medical Leadership culture. We were delighted to recently announce the pending acquisition of Canberra Imaging Group, following on from our move in March 2021 to majority ownership of Epworth Medical Imaging. We are actively considering further acquisition opportunities, as well as bidding for a number of outsourcing contracts.
What’s next for Sonic Healthcare?
The Sonic Healthcare share price has rallied strongly this year, up 30% year-to-date.
The company advised that it will not provide earnings guidance for FY22 due to COVID-19 related unpredictability:
“The pandemic has the potential to cause fluctuations in both COVID-19 testing revenues and the base business, although the base business has become increasingly resilient to the impacts of pandemic waves. The underlying growth drivers for healthcare services remain unchanged. Base business fluctuations are also mitigated by geographical and business sector diversity. The COVID-19 Delta variant is currently driving increases in COVID-19 testing revenues.”
Should you invest $1,000 in Sonic Healthcare right now?
Before you consider Sonic Healthcare, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Sonic Healthcare wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
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 recommended Sonic Healthcare 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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Full year net loss after tax of US$320.7 million, down 203% on the prior year (FY19 net profit after tax US$312.4 million)
Unfranked final dividend declared of US5 cents per share, down 89% on the prior year (FY19 US4.5 cents per share)
Following the release, Oil Search shares levelled between the $4.20 mark and $4.50 in the aftermath of its FY20 results. The weak result was in line with what investors were expecting Oil Search to report, hence the subtle movement.
However, the company’s shares picked up in early March as OPEC (Organisation of the Petroleum Exporting Countries) held a meeting to discuss cutting oil production levels.
What should investors look out for this earnings season?
Goldman Sachs expects Oil Search to report a bumper first-half, with its analysts forecasting the following:
H1 FY21 revenue of US$673 million, up 7.5% on the prior corresponding period (H1 FY20 US$626 million)
EBITDAX of US$448 million, down 1% on the prior corresponding period (H1 FY20 US$453 million)
Net profit after tax of US$107 million, up 348% on the prior corresponding period (H1 FY20 net loss of US$266 million)
Interim dividend of US1.8 cents per share, up 100% on the prior corresponding period (H1 FY20 nil dividend declared).
The broker noted that Oil Search has retained production and capital expenditure guidance for 2021 so far. However, other operating costs such as royalties, levies, and fuel costs are predicted to weigh down future profits.
Key downside risks include new project and expansion delays, production, LNG and oil prices, drilling results, or instability in PNG.
Nonetheless, Goldman Sachs slapped a “buy” rating on the company’s shares with a 12-month price target of $5.15. Based on Friday’s closing Oil Search share price of $3.69, this implies an upside of almost 40%.
Oil Search share price snapshot
Over the last 12 months, Oil Search shares have gained 20%, but are flat year to date. The company’s share price is in the middle of its 52-week range of $2.50 and $4.62.
Oil Search commands a market capitalisation of roughly $7.6 billion, with approximately 2 billion shares on issue.
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Santos (ASX:STO) share price slides as UN calls “death knell” on fossil fuels
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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Motley Fool Australia Chief Investment Officer Scott Phillips joined Peter Overton for Nine’s Late News on Sunday night to discuss a big week of economic news, including business investment, construction and retail sales. Plus a positive open expected for the ASX on Monday morning.
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The first ETF to look at is the hugely popular BetaShares NASDAQ 100 ETF. There’s a reason why this ETF is appearing in a growing number of Australian investment portfolios. That’s because it gives investors exposure to the 100 largest non-financial shares on the famous NASDAQ index. Among the 100 companies included in the fund are tech giant’s such as Alphabet, Amazon, Apple, Facebook, Microsoft, and Netflix. There are also a number of outstanding non-tech companies included. These include Mondelez, Moderna, Pepsico, Starbucks, and Tesla.
Another ASX ETF to look at is the BetaShares Global Cybersecurity ETF. This popular ETF gives investors exposure to the leading companies in the global cybersecurity sector. This could be a great place to invest right now, with demand for cybersecurity services increasing due to the growing threat of cyber attacks. Included in the fund are high quality companies such as Accenture, Cisco, Cloudflare, Crowdstrike, Okta, and Splunk.
A final ETF for ASX investors to consider is the VanEck Vectors Morningstar Wide Moat ETF. This ETF gives investors access to a diversified portfolio of companies with sustainable competitive advantages and fair valuations. These are traits that Warren Buffett looks for when he picks his investments. At present, there are a total of 48 US based stocks in the fund. This includes Amazon, Bank of America, Berkshire Hathaway, Intel, McDonalds, Microsoft, Philip Morris, and Yum Brands.
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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. owns shares of and has recommended BETA CYBER ETF UNITS and BETANASDAQ ETF UNITS. The Motley Fool Australia owns shares of and has recommended BETA CYBER ETF UNITS and BETANASDAQ ETF UNITS. The Motley Fool Australia has recommended VanEck Vectors ETF Trust – VanEck Vectors Video Gaming and eSports ETF. 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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JB Hi-Fi is one of Australia’s biggest retailers. According to the ASX, it currently has a market capitalisation of $5.7 billion.
Total sales increased by 12.6% to $8.9 billion, whilst net profit after tax (NPAT) grew 67.4% to $506.1 million and earnings per share (EPS) rose 67.5% to 440.8 cents. Online sales grew by 78.1% over the year to $1.1 billion.
The Good Guys in-particular saw a large increase in profitability, which saw the earnings before interest and tax (EBIT) improve 318 basis points to 7.9%. The gross profit margin increased 189 basis points to 22.4% and the cost of doing business margin improved 100 basis points to 11.7%.
With that profit, the ASX dividend share decided to declare a final dividend of $1.07 per share – an increase of 18.9%. That brought the total dividend for FY21 to $2.87 per share, up 51.9%.
That payment of the annual dividend represented 65% of net profit after tax (NPAT).
However, in a trading update for FY22 to 15 August 2021, it saw JB Hi-Fi Australia sales fall 14.6% and The Good Guys saw a decline of 8.1%.
The broker Credit Suisse rates JB Hi-Fi as a buy, with a price target of $56.48. In FY22, Credit Suisse is projecting JB Hi-Fi will pay a grossed-up dividend yield of 6.7% at the current JB Hi-Fi share price.
The footwear ASX dividend share revealed sizeable growth in FY21. Total sales rose 19.9% to $1.14 billion.
Accent’s EBIT grew 32.1% to $124.9 million, NPAT increased 38.6% to $76.9 million and EPS went up 38.2% to 14.21 cents.
That growth gave the board the confidence to increase the full year dividend by 21.6% to 11.25 cents. At the current Accent share price, after falling 18% since 13 August 2021, it has a FY21 grossed-up dividend yield of 7.4%.
Accent’s EBIT grew 32.1% to $124.9 million, NPAT increased 38.6% to $76.9 million and EPS went up 38.2% to 14.21 cents billion. Online sales grew 48%, representing 20.9% of total FY21 sales. It is aiming for online to be 30% of sales over time.
The company continues to target a growing store portfolio. It opened 90 new stores during the year and closed seven stores where required rent outcomes could not be achieved. Including the acquisition of Glue Store, the total store number grew to 638. New stores are performing strongly on more favourable rents than the existing portfolio.
The ASX dividend share said that in the first seven weeks of FY22, sales, including online, were down 16% compared to the prior corresponding period. However, digital sales continue to grow – in the last three weeks digital sales were up 66.7%.
It’s still aiming for at least 10% compound EPS growth and wants to be defined by its retail innovation, cash conversion and growing returns on shareholder funds.
According to the forecast on Commsec, Accent will pay a fully franked dividend of 12.3 cents per share in FY23. That equates to a grossed-up dividend yield of 8.1%.
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Accent (ASX:AX1) share price on watch following record FY21 results
Accent (ASX:AX1) share price down as market awaits FY21 earnings
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 Accent Group. 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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Motley Fool Australia Chief Investment Officer Scott Phillips joined Weekend Sunrise on Sunday to explain how you can get yourself started investing in just one week: this week!
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The S&P/ASX 200 Index (ASX: XJO) has just experienced a week to forget, recording 5 straight sessions of losses in a row. Falling commodity prices, ongoing concerns over the savage Delta outbreak and a mixed bag of earnings results all contributed to the ASX’s woes last week.
But it was the ASX mining shares that really dragged the whole index down.
It was a brutal week for miners. The large iron miners that dominate the ASX 200 led the losses. BHP Group Ltd(ASX: BHP) was down a phenomenal 16%, while Rio Tinto Limited(ASX: RIO) lost 10.9%. Fortescue Metals Group Limited(ASX: FMG) slipped 8.7%.
With BHP, the company has also seemingly copped some flack over its FY21 earnings report we saw on Tuesday. Although BHP delivered some pleasing metrics, including a big dividend hike, the reception for its plans to offload its petroleum business to Woodside Petroleum Limited(ASX: WPL) seems to be getting some pushback from the markets.
But miners outside the majors also felt the pain. South32 Ltd(ASX: S32) fell more than 3%, as did other mid-tier iron diggers like Champion Iron Ltd(ASX: CIA) which was down more than 8%.
These moves followed a dramatic collapse in the price of iron ore itself. A week ago, iron ore was at US$165 per tonne. A fortnight ago, it was around US$172 per tonne. Today, it’s sitting at US$154 per tonne. It’s this notable decline in pricing that was likely behind the moves we saw last week in these miners.
Miners lead ASX 200 off a cliff
But it wasn’t just the iron ore miners in the dumps last week. Popular lithium and rare earths companies like Pilbara Minerals Ltd(ASX: PLS), Orocobre Limited(ASX: ORE) and Lynas Rare Earths Ltd(ASX: LYC), which have recently been exploring new all-time highs, were also smashed. Lynas was down close to 7% last week, while Pilbara fell 5.6% and Orocobre, 5.7%.
Gold miners were also hit hard. The ASX’s largest gold prospector, Newcrest Mining Ltd(ASX: NCM), fell 3.3%, which was not an uncommon move for its peers either.
ASX bank shares like Commonwealth Bank of Australia (ASX: CBA) also spent the week going backwards.
We also saw some familiar lockdown moves that might remind investors of 2020. The ongoing restrictions across many major Australian cities last week, Sydney and Melbourne included, saw ASX travel shares like Corporate Travel Management Ltd(ASX: CTD) and Qantas Airways Limited(ASX: QAN) lose a lot of steam.
Well, as we mentioned above, it wasn’t a great week on the ASX boards last week, with back-to-back losses Monday to Friday. Monday and Tuesday saw the largest losses of the week, with the ASX giving back 0.61% and 0.94%, respectively. But Wednesday, Thursday and Friday also saw drops of 0.12%, 0.5% and 0.05% apiece, meaning that no day was especially joyous for investors last week.
Overall, the ASX 200 started the trading week off at 7,628.9 points and finished up at 7,460.9 points, a steep fall of 2.2%.
Meanwhile, the All Ordinaries Index (ASX: XAO) also had a pretty nasty week. The All Ords started the week at 7,897.7 points but finished up at 7,725.1 points – a drop of 2.19%.
Which ASX 200 shares were the biggest winners and losers?
Time now for our most salacious segment, where we check out the ASX 200’s biggest winners and poorest losers of the week. And boy, with the week the ASX has just had, it’s going to be a juicy one. So get the coffee brewing as we, as always, start with the losers:
The ASX 200’s wooden spooner share last week was indeed Lynas Rare Earths, with a steep 18.2% loss for the week. Lynas was caught up in the commodity sell-off last week, with perhaps some profit taking going on as well. Until recently, Lynas had been on an incredible run, and even after this chunky loss, remains up more than 51% in 2021 so far.
Scrap metal company Sims was also caught in the crosshairs. That was despite the company’s FY21 earnings report delivering better than expected numbers for the financial year just passed. Falling iron ore prices do tend to translate into lower scrap metal prices, so this might be what is behind investors hitting the sell button on this one.
Miner and supplier Mineral Resources was likely caught up in the same headwinds here, with no major news out of this company. And we’ve already looked at BHP, which has responded to the falling iron ore price especially hard.
Now with the losers out of the way, let’s take a gander at last week’s winners:
Our winning ASX 200 share last week was healthcare company Pro Medicus. Investors responded with great excitement to this company’s FY21 earnings report, which was released on Wednesday. With profits before tax rising by an impressive 41%, it’s not hard to see why.
Kogan was also a winner last week. Unlike Pro Medicus though, there wasn’t much news out of the company that may explain Kogan’s 15% jump. Perhaps its reputation as a ‘lockdown winner’ was behind this.
Turning to the New Zealand-based Chorus, and a favourable decision from the New Zealand Government seemed to be behind the telco’s good fortune last week, underpinning a 12% jump.
Meanwhile, Domain shares rose after the company reported its FY21 earnings on Thursday. Again, we saw some impressive numbers here, with Domain reporting net profits were up a very healthy 66%. Investors reacted accordingly.
A wrap of the ASX 200 blue-chip shares
Before we go, here is a look at how the ASX 200’s blue-chip shares are faring as we start on yet another week of company results:
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Motley Fool contributor Sebastian Bowen owns shares of Bitcoin, National Australia Bank Limited, Newcrest Mining Limited, and Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Bitcoin, CSL Ltd., Kogan.com ltd, and Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO, COLESGROUP DEF SET, Corporate Travel Management Limited, Kogan.com ltd, Macquarie Group Limited, Pro Medicus Ltd., Telstra Corporation Limited, and Wesfarmers 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 first growth share to consider is Altium. It is an award-winning printed circuit board (PCB) design software provider. Over the last few years, it has carved out a leading position in this growing market. Altium is now aiming to take things to the next level and dominate the market with its cloud-based Altium 365 product.
Credit Suisse is positive on the company. It currently has an outperform rating and $42.00 price target. This compares to the latest Altium share price of $35.39.
Another ASX growth shares to look at is Aristocrat Leisure. It is one of the world’s leading gaming technology companies. While the pandemic hit Aristocrat hard, it has bounced back strongly in recent quarters and appears to be winning market share. Pleasingly, despite casinos reopening, its digital business continues to grow strongly and generate significant recurring revenues.
Citi is a fan of the company. It has a buy rating and $46.60 price target on its shares. This compares to the latest Aristocrat Leisure share price of $43.37.
Finally, REA Group could be an ASX growth share to consider buying. It is of course the dominant player in real estate listings in the Australian market. This puts it in a fantastic position to benefit from the housing market boom. In addition to this, cost cutting, new revenue streams, price increases, and acquisitions look set to give its sales and earnings a boost.
Macquarie is feeling very bullish on REA Group. Its analysts currently have an outperform rating and $185.00 price target on its shares. This compares to the current REA Group share price of $154.05.
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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. owns shares of and has recommended Altium. The Motley Fool Australia owns shares of and has recommended Altium. The Motley Fool Australia has recommended REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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The Commonwealth Bank of Australia(ASX: CBA) share price has dropped around 8% since 11 August 2021. Does that mean that the big four ASX bank is now a buy?
What happened?
On 11 August 2021, the country’s biggest bank reported its FY21 result.
There were a number of interesting things announced and revealed in that report.
It said that statutory net profit after tax (NPAT) grew by 19.7% to $8.84 billion and cash NPAT increased 19.8% to $8.65 billion.
The bank explained that NPAT increased due to improved economic conditions and outlook resulting in a lower impairment expense and a strong operational performance.
A noticeable part of the profitability improvement came from a reduction of the loan impairment expense, which fell by 78%, compared to FY20, to $554 million. This loan impairment expense decrease reflected an improvement in economic conditions and outlook. However, it has maintained a “strong” provision coverage ratio of 1.63%, reflecting the economic uncertainty from the continuing impacts of COVID-19.
It was the concerns about bad debts that caused CBA to register such as a large loan impairment expense in FY20, which may also have been a big factor on the CBA share price.
Despite all of the impacts of the COVID-19 pandemic, CBA continued to see growth in key areas. Business lending grew by $11 billion, which was more than 3x the system. Home lending and household deposits both increased by $31 billion, which represented 1.2x system growth.
However, the bank said that its net interest margin (NIM) was 2.03% in FY21. This represented a reduction of 4 basis points. The bank explained that group NIM declined due to higher liquid assets and the ongoing impact of a low interest rate environment.
Could shareholder returns boost the CBA share price?
Well, on the day of the result, CBA shares did climb 1.5%.
Its profit wasn’t the only thing that the bank revealed. It declared a full year dividend of $3.50 per share. That represented a 17% increase on FY20.
CBA also said that its common equity tier 1 (CET) capital ratio was 13.1%, an increase of 150 basis points. This was above APRA’s ‘unquestionably strong’ benchmark of 10.5%.
The bank also announced the intention to conduct an off-market buy-back of up to $6 billion of CBA ordinary shares.
There is no CBA share price decided yet for the buy-back, it will be conducted through an off-market tender process which will open on 30 August 2021.
CBA Chair Catherine Livingstone said:
CBA’s strong capital position and our progress on executing our strategy mean that we are well placed to continue to support our customers and manage ongoing uncertainties, while also returning a portion of surplus capital to shareholders. After careful consideration, your board has determined that the buy-back is the most efficient and value-enhancing strategy to distribute CBA’s surplus capital and franking credits.
Is the CBA share price a buy?
Numerous brokers still rate CBA shares as a sell, despite the recent decline.
For example, Morgan Stanley rates CBA as a sell with a price target of $90. It doesn’t believe market’s high price for CBA is good value with its limited growth outlook.
The brokers at Macquarie Group Ltd (ASX: MQG) also believe that CBA is a sell, with an even lower price target of $88.50. Macquarie thinks that CBA’s revenue growth isn’t strong enough for the valuation and margins could continue to be challenged.
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CBA (ASX:CBA) share price higher on StepPay BNPL launch
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 owns shares of and has recommended 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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