Tag: Motley Fool

  • Ansarda (ASX:AND) share price surges on record quarter

    Ansarada share price Businessman doing superman and rocketing into the sky

    The Ansarada Group Ltd (ASX: AND) share price surged to a five-month high on Tuesday after it posted a record quarter.

    The Ansarada share price surged 6% to $1.35 ahead of the close when the IT sector was struggling to keep its head above water today.

    In contrast, the S&P/ASX 200 Index (Index:^AXJO) eked out a 0.2% improvement as it gave up most of its morning gains.

    Big customer growth drives Ansarada share price higher

    But the Ansarada share price remained well bid as management reported a 99% increase in new customer wins for the June quarter compared to the same period last year.

    This takes total subscribers on its confidential information sharing platform to 2,566, which is a 41% uplift over 4QFY20.

    What’s more, the customer wins have translated to a 17% improvement in revenue to $9.3 million in the latest quarter. Deferred revenue is up a more impressive 76% to $13.6 million over the same periods.

    Ansarada share price still lagging peers

    Shareholders will be hoping that the latest quarterly marks a turnaround in disappointing performance of the Ansarada share price.

    Even with today’s big rally, its shares are still down by nearly a third over the past year following its reverse takeover of The Doc Yard.

    That’s surprising given that anything to do with tech and growing recurring revenues would be hot property.

    Just look at the Xero Limited (ASX: XRO) share price, Afterpay Ltd (ASX: APT) share price and Life360 Inc (ASX: 360) share price.

    Why Investors are overlooking Ansarada

    Perhaps one big issue is that not many retail investors understand the value proposition of the Ansarada offering.

    It’s software as a service (SaaS) platform allows enterprise customers to share and collaborate on confidential documents. Such a service is useful in mergers and acquisitions (M&As), sharing of board papers and tenders.

    These aren’t small niche markets. Ansarada is trying to point out the size of the opportunity by highlighting its use in the global infrastructure boom.

    Chasing big market opportunities

    Governments around the world are ramping up infrastructure construction as a way to stimulate their economies in the COVID-19 aftermath. Ansarada reckons the size of this opportunity is worth US$3.9 trillion.

    Ansarada is leveraged to this theme as it says governments use its Tenders and Deals products to manage high-value/high-risk information.

    This isn’t only in the management of the tender process, but also the lifecycle of financing and M&A activities across the infrastructure asset lifecycle.

    The post Ansarda (ASX:AND) share price surges on record quarter appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

    *Returns as of May 24th 2021

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  • Top brokers name 2 ASX dividend shares to buy today

    A woman holds a lightbulb in one hand and a wad of cash in the other

    Fortunately, in this low interest rate environment, there are countless dividend shares for investors to choose from on the Australian share market.

    But with so many to choose from, it can be hard to decide which ones to buy over others. To narrow things down for you, I have picked out two ASX dividend shares brokers think income investors should buy:

    Medibank Private Ltd (ASX: MPL)

    According to a note out of Credit Suisse, its analysts have retained their outperform rating and lifted their price target on this private health insurance company’s shares to $3.50. The broker made the move after increasing its earnings estimates to reflect positive investment market movements and improving trading conditions in the private health insurance industry.

    As for dividends, Credit Suisse expects 13 cents per share in FY 2021 and then 14 cents per share in FY 2022. Based on the latest Medibank share price of $3.25, this implies attractive fully franked yields of 4% and 4.3%, respectively, for investors over the next couple of years.

    National Australia Bank Ltd (ASX: NAB)

    A note out of Macquarie reveals that its analysts have upgraded this banking giant’s shares to an outperform rating with a $28.00 price target. According to the note, the broker upgraded its shares on valuation grounds following a period of underperformance. In addition to this, the broker notes that NAB has a strong capital position. It feels this should allow NAB to absorb any negative impacts of the AUSTRAC investigation and a potential economic slowdown.

    In respect to dividends, Macquarie is forecasting fully franked dividends of $1.20 per share in FY 2021 and then $1.25 per share in FY 2022. Based on the latest NAB share price of $26.32, this will mean generous yields of 4.6% and 4.75%, respectively, for income investors over the next two years.

    The post Top brokers name 2 ASX dividend shares to buy today appeared first on The Motley Fool Australia.

    These Dividend Stocks Could Be Your Next Cash Kings (FREE REPORT)

    Motley Fool Australia’s Dividend experts recently released a brand-new FREE report revealing 3 dividend stocks with JUICY franked dividends that could keep paying you meaty dividends for years to come.

    Our team of investors think these 3 dividend stocks should be a ‘must consider’ for any savvy dividend investor. But more importantly, could potentially make Australian investors a heap of passive income.

    Don’t miss out! Simply click the link below to grab your free copy and discover these 3 high conviction stocks now.

    Returns As of 15th February 2021

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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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  • Here are 3 ASX 200 shares flying around the markets today

    blue arrows representing a rising share price

    The S&P/ASX 200 Index (ASX: XJO) is having a decent day today. At the time of writing, the ASX 200 is up 0.14% to 7,344 points. But let’s dig a little deeper, and see which ASX 200 shares are being the most heavily traded this Tuesday:

    3 ASX 200 shares flying around the share market today

    Shopping Centres Australasia Property Group Ltd (ASX: SCP)

    SCA Property Group is our first ASX 200 share flying around the markets today. In fact, a very solid 11.9 million shares have changed hands so far this Tuesday. That’s despite no major news or announcements out of this ASX property company. In saying that, SCA Property Group is up 3.36% so far this week, including a healthy 1.23% bump just today. Perhaps it’s this steady climb that is causing this company’s shares to be so heavily traded.

    Incitec Pivot Ltd (ASX: IPL)

    Fertiliser and explosives manufacturer Incitec Pivot is another ASX 200 share that’s seeing some heavy trading volume today. So far, approximately 15.7 million Incitec shares have changed hands today. Unlike SCA Property, it’s fairly easy to see where this volume is coming from.

    Incitec Pivot shares are up a very hefty 7% today so far to $2.60 a share. As my Fool colleague Aaron covered this morning, ASX 200 investors seem to be responding to an update the company put out today before market open. This update told the markets that Incitec is moving towards a regional manufacturing model, moving away from its old global model. This is partly due to the changing nature of the pandemic, with international borders around the world remaining restricted or closed.

    Investors seem to have given their tick of approval to this move.

    Bingo Industries Ltd (ASX: BIN)

    Bingo is our top ASX 200 performer in terms of trading volume today, with a very substantial 18.26 million shares changing hands so far this Tuesday. Again, we have a clear motive here. This morning, Bingo put out an announcement, which declared that almost 97% of its shareholders have voted in favour of the proposed takeover by a subsidiary of Macquarie Infrastructure and Real Assets.

    This subsidiary will now acquire all issued Bingo shares, pending court approval, with Bingo scheduled to leave the ASX 200 and the ASX boards on Thursday. Bingo also announced a special dividend of 11.7 cents a share at the same time.

    The post Here are 3 ASX 200 shares flying around the markets today appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

    *Returns as of May 24th 2021

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    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 owns shares of and has recommended Shopping Centres Australasia Property 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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  • Why the Atomos (ASX:AMS) share price is up 23% in a month

    Two men cheering at laptop

    The Atomos Ltd (ASX: AMS) share price has been flying lately, gaining 23% in the last month.

    At close of trade today, shares in the content creation technology company were swapping hands for $1.23. This time last month, they were going for just $1.00.

    The gains to the Atomos share price come despite the company releasing just a single piece of news to the market in the last month. However, its CEO has been in the news today for all the wrong reasons.

    Let’s take a look at what Atomos has been up to lately.

    The latest news on Atomos

    Sydney escapee

    Atomos is in the news today after its CEO Jeromy Young was allegedly caught trying to break COVID-19 border restrictions aboard a super yacht.

    Maritime Safety Queensland noted a 32-metre super yacht had landed on the Gold Coast after travelling from Sydney. 7 News reported today that Young was among the 4 people on board the super yacht.

    After arriving on the Gold Coast, the group attended a rugby game in Brisbane on Wednesday before being fined for providing false and misleading information to get across the Queensland border.

    They have all since tested negative to COVID-19.

    The last we heard from Atomos

    Aside from its CEO’s escapades, the only time we’ve heard from Atomos this month was on 30 June when the company released a trading update.

    The update pushed the Atomos share price up to close 11.46% higher than its previous session.

    The trading update announced record sales for the 2021 financial year. The company has brought in more than $77 million – 73% more than the previous financial year.

    It also recorded more than $44.2 million worth of sales in the second half of the 2021 financial year. That’s 275% more than the prior corresponding period.

    Atomos share price snapshot

    The Atomos share price has been performing well lately. It’s gained 26% year to date. It is also 186% higher than it was this time last year.

    The company has a market capitalisation of around $269 million, with approximately 218 million shares outstanding.

    The post Why the Atomos (ASX:AMS) share price is up 23% in a month appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Atomos right now?

    Before you consider Atomos, 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 Atomos 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.

    *Returns as of May 24th 2021

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    The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Atomos Ltd. The Motley Fool Australia has recommended Atomos 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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  • Clean TeQ Water (ASX:CNQ) share price gushes 10% higher today

    Water tap with dollar sign

    The Clean TeQ Water Ltd (ASX: CLQ) share price rose strongly today following an update on its share sale facility.

    At the time of writing, the company’s shares are up 10% to $1.32. It’s worth noting that at one point, the share price reached an all-time high of $1.45 during the morning.

    Quick take on Clean TeQ Water

    Newly listed on the ASX, Clean TeQ Water is a metals recovery and water treatment solutions company. Its technology includes desalination, nutrient removal, zero liquid discharge and hardness removal.

    Earlier this month, Clean TeQ Water separated from Sunrise Energy Metals Ltd (ASX: SRL), formerly named Clean TeQ Holdings. The spin-off is to allow Sunrise Energy Metals to focus on its nickel-cobalt-scandium project in New South Wales.

    As a result, shareholders in Sunrise Energy metals received one Clean TeQ Water share for every two shares held.

    Completion of share sale facility

    Investors are pushing Clean TeQ shares into new territory after the company revealed its latest announcement.

    Clean TeQ Water advised that the sale of its shares through the demerger share sale facility has been completed.

    According to the Demerger Booklet released 17 May, a share sale facility was established to allow eligible shareholders to sell their Clean TeQ Water shares. This included shareholders who had less than 5,000 Sunrise Energy Metals shares and those who were not eligible to receive Clean TeQ Water shares.

    The share sale facility provided shareholders with the opportunity to transact without incurring any brokerage or other costs.

    In total, 63,235 Clean TeQ Water shares were sold on market through the share sale facility. The average price for these shares was approximately 93.4 cents per share.

    The gross proceeds of the share sale facility will be distributed amongst eligible shareholders at a later date.

    About the Clean TeQ Water share price

    Since debuting on the ASX boards on 2 July, Clean TeQ Water shares have continued their upward trend. The company’s share price hit an all-time high of $1.45 during the first 30 minutes of market open today.

    Clean TeQ Water presides a market capitalisation of roughly $59 million, with more than 44.6 million shares outstanding.

    The post Clean TeQ Water (ASX:CNQ) share price gushes 10% higher today appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Clean TeQ Water right now?

    Before you consider Clean TeQ Water, 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 Clean TeQ Water 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.

    *Returns as of May 24th 2021

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    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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  • Will the Qantas (ASX:QAN) share price take off soon?

    view from below of jet plane flying above city buildings representing corporate travel share price

    2021 certainly has been a turbulent year for the Qantas Airways Limited (ASX: QAN) share price.

    After being up as much as 12% year to date to $5.50 in March, the Qantas share price is now in negative territory for the year at $4.75.

    In light of this turbulence, investors will no doubt be interested to know where analysts think the airline operator’s shares are going next.

    What do brokers think about the Qantas share price?

    A number of leading brokers remain positive on the Qantas share price despite the recent lockdowns in Sydney that are disrupting the travel market.

    According to a note out of Morgan Stanley, its analysts have an overweight rating and $7.00 price target on the company’s shares. This price target implies potential upside of 47% over the next 12 months for Qantas shares.

    Morgan Stanley is expecting a gradual improvement in group capacity over the next two years, before things normalise again in FY 2024.

    More bullish brokers

    Another broker that sees value in Qantas shares is Citi. It currently has a buy rating and $5.89 price target on them.

    According to the note, while the broker is expecting its international recovery to take some time, it remains very positive on its domestic business. This is due to market share gains and strong economics.

    Finally, Goldman Sachs is another leading broker that appears to believe Qantas shares offer compelling value for investors. Its analysts currently have a buy rating and $6.38 price target on its shares. This implies potential upside of 34% over the next 12 months.

    Goldman commented: “QAN represents a strong recovery investment, if the Australian COVID-19 vaccination program has the effect of reducing community transmission of the virus and limits the need for domestic border closures.”

    In light of the above, this could make Qantas an ASX 200 share to watch over the coming months.

    The post Will the Qantas (ASX:QAN) share price take off soon? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Qantas? right now?

    Before you consider Qantas?, 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 Qantas? 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.

    *Returns as of May 24th 2021

    More reading

    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 Zip share price has rocketed up 14% in a week. Let’s see why

    business ups and downs, roller coaster, share price ups and downs, cyclicall

    The Zip Co Ltd (ASX: Z1P) share price has certainly been on a roller coaster over the past week. As it stands on paper, Zip shares are up 13.74% over the past 5 trading days. That includes the 0.61% that Zip shares have added so far today.

    However, that number hides the fact that Zip shares climbed all the way up to near $9 a share last Thursday. Today, Zip remains down more than 7% from that high. It’s trading at $8.28 a share at the time of writing.

    The rollercoaster metaphor can be extended to 2021 as a whole. Zip shares are currently up a very healthy 48% year to date. However, back in February, Zip shares climbed as high as $14.53.

    That put them up a staggering 163% year to date at the time. At the current share price, Zip remains down 40% from those highs.

    But let’s turn back to the past week. What’s gone so right for this buy now, pay later (BNPL) company recently?

    Is Klarna BNPL-ing some shares?

    Well, it’s likely that a large chunk of Zip shares’ recent success can be put down to the rumours making their way around the markets last week. As my Fool colleague James covered at the time, it was reported in the Australian Financial Review that the European BNPL provider Klarna has taken a 4% stake in Zip Co.

    The report states the motivation behind the move was “designed to give it options should the buy now, pay later sector consolidate down to two or three main players globally”.

    Klarna itself is part-owned by Commonwealth Bank of Australia (ASX: CBA). This remains speculative since neither Zip nor Klarna have confirmed (nor denied) this rumour.

    Even so, the reaction from investors was one of enthusiasm. Zip shares spiked close to 15% on the morning of the report and had climbed even higher by the end of trading. However, since then, the excitement has cooled somewhat, as we noted above.

    Are Zip shares a buy today?

    One broker who thinks there might still be some upside in the current Zip share price is Citi. As my Fool colleagues covered earlier today, Citi has recently cut its 12-month price target for Zip shares by 6% to $10.25.

    Even so, that price target implies a potential upside of almost 24% on the current Zip share price. Citi noted that customer attention for BNPL platforms, including Zip’s, increased over the month of June. However, it has its eye on Zip’s US QuadPay business which had a more subdued month.

    At the current Zip share price, the company has a market capitalisation of $4.65 billion.

    The post The Zip share price has rocketed up 14% in a week. Let’s see why appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Zip Co right now?

    Before you consider Zip Co, 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 Zip Co 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.

    *Returns as of May 24th 2021

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    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. owns shares of and has recommended ZIPCOLTD FPO. 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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  • A2 Milk and Zip were among the most traded ASX shares last week

    green investor, happy investor, digital investing

    Australia’s leading investment platform provider CommSec has released data on the most traded ASX shares on its platform from last week.

    Here’s the data:

    Zip Co Ltd (ASX: Z1P)

    This buy now pay later (BNPL) provider was the most traded ASX share on the CommSec platform last week. Its shares were attributable to 3.6% of trades during the week, with the buying and selling evenly split. The buyers certainly will have been the happier group, with the Zip share price rising 9.1% over the five days. This was driven by speculation that Klarna has bought a stake in the company.

    Sydney Airport Holdings Pty Ltd (ASX: SYD)

    This airport operator’s shares were involved in 2.3% of trades on CommSec last week. This followed news that Sydney Airport has received a $22.3 billion takeover approach from a consortium of infrastructure investors. And with buyers accounting for just 13% of the volume, it appears as though CommSec investors were quick to cash in following Monday’s 33.9% gain.

    A2 Milk Company Ltd (ASX: A2M)

    This infant formula company’s shares were popular with investors again last week. A2 Milk’s shares accounted for 2.1% of trades on CommSec, with buyers responsible for 71% of the volume. Investors were bidding the a2 Milk share price higher after it was given the thumbs up by regulators to acquire a 75% interest in Mataura Valley Milk. The a2 Milk share price rose 10.4% over the five days.

    BetaShares Global Sustainability Leaders ETF (ASX: ETHI)

    This ethical ETF was among the most traded shares on CommSec again last week and attributable to 1.6% of total trading volume. A sizeable 91% of this volume came from the buy side, which helped the ETF record a modest weekly gain. The BetaShares Global Sustainability Leaders ETF share price is now up ~12% for the year.

    Betashares Nasdaq 100 ETF (ASX: NDQ)

    This ETF was popular with investors again during the five days. The Betashares Nasdaq 100 ETF was responsible of 1.5% of trades on CommSec, with 86% of the volume from buyers. The technology-focused ETF rose 1.7% last week, stretching its 2021 gain to ~14%.

    The post A2 Milk and Zip were among the most traded ASX shares last week appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Zip right now?

    Before you consider Zip, 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 Zip 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.

    *Returns as of May 24th 2021

    More reading

    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 BETANASDAQ ETF UNITS and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended BETANASDAQ ETF UNITS. The Motley Fool Australia has recommended A2 Milk. 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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  • Why the Suncorp (ASX:SUN) share price just broke its 52-week high

    excited man reaching new record high on mountain side

    The Suncorp Group Ltd (ASX: SUN) share price has surpassed its 1-year record. Shares in the bank reached $11.53 before falling to $11.37 at the time of writing. The current price is 0.31% lower than yesterday’s close – quite the turnaround from earlier this morning.

    With its share price up 28% over the past 12 months, let’s look at some of the more recent stories that have had a positive effect on Suncorp.

    Suncorp’s positive 12 months

    Earlier this month, Suncorp announced the sale of its remaining interests in the Tasmanian insurance market.

    At the time, Suncorp CEO Steve Johnson said the move was “consistent with our focus on simplifying the Group and driving improvement in our core insurance and banking businesses.”

    The Suncorp share price increased 1.2% that day.

    Strong broker ratings on Suncorp may have also aided it in breaking its 52-week record.

    In late June, analysts at Citi predicted the bank could pay a special dividend of 61 cents per share in FY21 and 58 cents per share in FY22. At today’s market price, this would equate to a yield of 5.4% and 5.1% respectively.

    Similarly, UBS placed Suncorp in its list of companies it is expecting a dividend upgrade. Another company UBS are rating for high dividend payments is Bendigo and Adelaide Bank Ltd (ASX: BEN).

    Suncorp share price snapshot

    While the Suncorp share price is up 28% in a year, it is down 14% over the past 5 years.

    On the first trading day of 2020, shares in Suncorp were trading for $12.96. It was impacted heavily by the COVID-19 pandemic and has still not recovered since then.

    The post Why the Suncorp (ASX:SUN) share price just broke its 52-week high appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Suncorp right now?

    Before you consider Suncorp, 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 Suncorp 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.

    *Returns as of May 24th 2021

    More reading

    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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  • Pro Medicus (ASX:PME) share price soars to all-time high

    Group of medical professionals high five

    The Pro Medicus Limited (ASX: PME) share price has soared to a new all-time high of $59.90 during intraday trade today.

    At the time of writing, the shares have partially retreated and are swapping hands for $59.48, still up 3.48% on yesterday’s closing price.

    The medical imaging company has been a standout performer on the S&P/ASX 200 Index (ASX: XJO) in 2021.

    The Pro Medicus share price was also the best performing on the S&P/ASX 200 Health Care Index (ASX: XHJ) during FY21. The company’s shares started the financial year at $26.46 and ended at $58.72, reflecting a 122% gain.

    They have gained more than 70% year to date, and more than 140% in the last 12 months.

    What’s been fuelling the Pro Medicus share price?

    The initial catalyst that sparked the Pro Medicus share price can be traced back to January.

    The company announced it had signed a 7-year contract with Intermountain Healthcare in Salt Lake City. The transactional licensing contract is estimated to be worth about $40 million over the period. As a result, Pro Medicus will implement its Visage 7 Viewer and Visage 7 Open Archive products across all radiology and subspecialty imaging departments.

    The second catalyst that moved the Pro Medicus share price this year came in mid-May.

    Pro Medicus announced its wholly owned US subsidiary, Visage Imaging, had signed a deal with the University of Vermont (UVM). The contract will see Pro Medicus implement its products across 6 hospitals operated by UVM. The contract is estimated to generate $14 million over an 8-year period.

    In addition, the company’s subsidiary also entered into a multi-year research agreement with the Mayo Clinic. Under the agreement, the two parties will develop and commercialise artificial intelligence for the medical imaging sector.

    More on Pro Medicus

    Pro Medicus is a medical imaging company that offers its products and services to hospitals and imaging companies.

    The company is a leading provider of radiology information systems (RIS), and picture archiving and communication systems (PACS).

    Pro Medicus has also been on the end of favourable broker coverage. Most recently, analysts at Bell Potter retained a ‘hold’ rating on the company.

    Analysts noted that Pro Medicus could accrue a minimum of $146 million in revenues over the next 5 to 8 years. In addition, the research note highlighted that Pro Medicus holds a 3% to 5% share of the radiology market. As a result, the company could be poised for further expansion in the future.

    The post Pro Medicus (ASX:PME) share price soars to all-time high appeared first on The Motley Fool Australia.

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    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. owns shares of and has recommended Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

    from The Motley Fool Australia https://ift.tt/3kby9xz