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The Synlait Milk Ltd (ASX: SM1) share price will be one to watch on Monday.

This follows the release of a major announcement this morning by the struggling dairy processor.

What did Synlait Milk announce?

This morning Synlait Milk announced that its board has accepted the resignation of Leon Clement from the role of Chief Executive Officer (CEO).

Mr Clement is leaving the company after a little over two and a half years in the CEO role, having joined Synlait Milk in September 2018.

During his tenure, the Synlait Milk share price has lost approximately 72% of its value, falling from $11.73 on 1 September 2018 to $3.22 today.

Nevertheless, the board has spoken positively about the impact he had at the company.

Synlait’s Chair, Graeme Milne, commented: “Leon has been an authentic and transformational leader. He has successfully repositioned Synlait’s purpose, ambition, and strategy to make us a more diversified and sustainable company. On behalf of the Board and all staff we wish Leon the very best in his future career and thank him for his energy and dedication to Synlait during his time with us.”

The outgoing CEO added: “It has been a privilege to lead Synlait. It has been an intensive period of change and growth and I am proud of our achievements. Synlait has an amazing team that is making a positive and sustainable impact in the areas we operate.”

What now?

According to the release, Mr Clement will continue in his role until the end of April.

After which, from 1 May 2021, John Penno (Synlait Co-Founder, Former CEO, and current Director), will assume the role of Interim CEO until a permanent replacement is appointed.

A search for a new permanent CEO will be initiated shortly.

What’s been happening?

Last month the Synlait share price crashed to a multi-year low following the release of a very poor half year result.

Due partly to the weakness facing infant formula customers such as A2 Milk Company Ltd (ASX: A2M), Synlait posted a 76% decline in net profit after tax to NZ$6.4 million.

Unfortunately, things are not expected to get any better in the second half, with management forecasting a breakeven full year result.

More reading

• Leading brokers name 3 ASX shares to sell today
• ASX 200 dips lower, Webjet drops, REA bids for Mortgage Choice
• Why Immutep, Inghams, REA Group, & Synlait shares are sinking
• Synlait (ASX:SM1) share price on watch after reporting huge profit decline
• Chinese factory output is up an astonishing 35%

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and 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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If your risk profile allows for it, having a little exposure to the small side of the market could be a good thing for a portfolio.

This is because the potential returns on offer here are significant if you can find a small cap on a pathway to becoming a mid cap or even a large cap.

With that in mind, I have picked out two small caps that are highly rated. They are as follows:

Bigtincan Holdings Ltd (ASX: BTH)

The first small cap ASX to look at is Bigtincan. It is an artificial intelligence-powered sales enablement automation platform provider. 

Bigtincan has been growing very quickly in recent years and looks well-placed to continue this trend in FY 2021 following a very strong half year result in February. At the end of the half, its annualised recurring revenue (ARR) stood at $48.4 million. This was a 50% increase over the prior corresponding period.

Driving this strong growth was acquisitions and new customer wins. In respect to the latter, among the growing number of blue chips using its platform are 7 of the top 10 companies on the Fortune 500.

Analysts at Ord Minnett are positive on its prospects. They currently have a buy rating and $1.08 price target on its shares.

Doctor Care Anywhere Ltd (ASX: DOC)

Another small cap ASX share to look at is Doctor Care Anywhere. It is a growing UK-based telehealth company that is aiming to deliver high-quality, effective, and efficient care to its patients, while reducing the overall cost of providing clinical services.

It has also been growing strongly this year. For example, in January it released its fourth quarter update and revealed a 151% increase in revenue to 3.8 million pounds. This was driven by the increasing popularity of telehealth services during the pandemic.

Bell Potter is positive on the company’s long term outlook. It has a buy rating and $1.95 price target on the company’s shares.

More reading

• Looking for the next Afterpay and Zip? Try these small cap ASX shares
• These ASX tech shares are all trading near their lowest prices in months
• 2 excellent ASX mid cap shares to buy
• 2 explosive ASX growth shares to buy right now
• 2 rapidly growing ASX tech shares to buy in April

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If you’re wanting to add some ASX dividend shares to your portfolio, then you might want to look at the ones listed below.

Here’s what income investors need to know about them:

Aventus Group (ASX: AVN)

The first dividend share to look at is Aventus. It is Australia’s largest fully-integrated owner, manager, and developer of large format retail centres.

Aventus has been a positive performer during the pandemic. This has been thanks largely to the quality of its tenancies and its exposure to everyday needs and national retailers. This has allowed the company to collect rent largely as normal, which led to Aventus reporting both revenue and profit growth during the first half of FY 2021.

One broker that is positive on the company is Goldman Sachs. It currently has a buy rating and $3.04 price target on its shares.

Goldman is also forecasting a ~16.6 cents per share distribution this year. Based on the current Aventus share price, this represents a 5.6% yield.

Wesfarmers Ltd (ASX: WES)

Another dividend share to look at is Wesfarmers. It is the conglomerate behind several of Australia’s leading retailers and a collection of industrial businesses. Among the former are Kmart, Officeworks, Target, Catch, and Bunnings.

It is the latter business which has been the star performer over the last 12 months. Strong demand in the home improvement market led to Bunnings reporting stellar sales and profit growth during the first half. This ultimately underpinned a 16.6% increase in group revenue to $17,774 million and a 25.5% increase in net profit after tax to $1,414 million.

Goldman Sachs is a fan of Wesfarmers as well. It currently has a buy rating and $59.70 price target on its shares. In respect to dividends, the broker is forecasting a fully franked FY 2021 dividend of $1.88 per share. Based on the latest Wesfarmers share price, this equates to a 3.5% yield.

More reading

• 2 ASX dividend shares with generous yields to buy now
• How are these ASX 200 retail shares tracking after JobKeeper’s end?
• 2 great ASX 200 blue chip shares for dividends
• 2 COVID-19 ASX shares to buy
• Why the Wesfarmers (ASX:WES) share price is up today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Wesfarmers Limited. The Motley Fool Australia has recommended AVENTUS RE UNIT. 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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At the current Woolworths Group Ltd (ASX: WOW) share price, is it an attractive buy as a defensive ASX share?

Over the last month the Woolworths share price has risen by around 5.5%. It hasn’t moved much over the last 12 months, but its sales and earnings have been marching higher.

Recent FY21 half-year result

In the first half of its FY21, Woolworths saw continuing double digit growth.

Group sales went up 10.6% to $35.8 billion, with e-commerce sales increasing 78% to $2.94 billion. Online sales made up 8.2% of total sales, up from 5.1% in the first half of FY20.

The business saw group earnings before interest and tax (EBIT) grow by a similar rate, increasing by 10.5%.

However, group net profit after tax (NPAT) increased by 15.9% to $1.1 billion. Woolworths said that its operations continues to be impacted by COVID-19, with elevated sales and higher costs as the company worked to maintain a COVID-19-safe environment.

Looking at Woolworths’ different divisions, there was growth across most of them over the first six months of FY21. Australian food sales rose 10.6%, New Zealand food sales increased 2.9%, Big W sales went up 20.1% to $2.58 billion and Endeavour Drinks (including Dan Murphy’s) sales rose 19% to $5.68 billion. Hotels was the sales decline by 27.5% to $667 million.

EBIT growth was at a similar pace for most divisions, but Big W EBIT grew 165.7% to $133 million and hotels EBIT fell 45.4% to $122 million. Big W saw such a big EBIT increase because of strong sales growth, gross profit margin improvements and cost control, despite higher COVID-19-related costs. It also saw online sales increase by 120%.

The defensive ASX share pointed out that whilst sales slowed during the half – second quarter sales increased by 8.3% – it was still high single digits.

Woolworths has managed to keep growing, despite all of the disruptions it has faced since early 2020.

Outlook

The Woolworths share price is driven by profit and growth expectations.

In the first seven weeks of the second half of FY21, it has seen continuing strong sales growth, benefiting from continued at-home consumption, Australians not travelling abroad, and a weaker prior year where sales were impacted by bushfires on the east coast of Australia. However, growth rates have continued to moderate over the period in line with the overall market. COVID-19 costs are also coming down as restrictions ease.

Australian food total sales increased by approximately 8% in the first seven weeks.

The medium-term annual net target for Woolworths is 10 to 20 new full range supermarkets in Australia, with five to 15 Metro food stores.

Looking at the Endeavour Group, Woolworths is expecting to separate this business in June 2021, most likely through a demerger.

Woolworths said the divestment will lead to a simplified business, with a greater focus on its core food and everyday needs businesses and allow Endeavour to accelerate its own growth aspirations.

Is the Woolworths share price a buy?

The broker UBS rates the Woolworths share price as a buy with a price target of $44. It likes the possible shareholder returns that may be paid after the divestment of Endeavour – it thinks it still has long-term growth potential.

According to UBS, the Woolworths share price is valued at 27x FY21’s estimated earnings.

More reading

• Is the Coles (ASX:COL) share price a buy today?
• Why Codan, Flight Centre, Magellan, & Woolworths are sinking
• Fears of new supermarket war could hit Coles (ASX:COL) and Woolworths (ASX:WOW)
• Why this top broker thinks the Woolworths (ASX:WOW) share price can break new record highs
• Lynch Group (ASX:LGL) share price falls after completing $206 million IPO

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Woolworths 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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More reading

• 5 things to watch on the ASX 200 on Monday
• 2 of the best ASX shares to buy now
• 2 buy-rated ASX dividend shares with generous yields
• 2 stellar ASX growth shares that could be strong buys
• Is the Appen (ASX:APX) share price a cheap buy?

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Kate O’Brien owns shares of Apple and Rio Tinto Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), and Apple. 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 Friday the S&P/ASX 200 Index (ASX: XJO) finished a very positive week on a subdued note. The benchmark index fell ever so slightly to 6,995.2 points.

Will the market be able to bounce back from this on Monday? Here are five things to watch:

ASX 200 expected to rise

The Australian share market looks set to start the week on a positive note following a solid finish on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the week 6 points or 0.1% higher this morning. On Wall Street on Friday night, the Dow Jones rose 0.9%, the S&P 500 climbed 0.8%, and the Nasdaq pushed 0.5% higher. The Dow hit a record high after adding 2% for the week.

Xero shares rated as a buy

The Xero Limited (ASX: XRO) share price could be going higher from here according to one leading broker. This morning analysts at Goldman Sachs retained their buy rating but trimmed their price target slightly to $153.00. Goldman notes that Xero is tracking well, with its data showing that accounting partner numbers continue to grow strongly and the number of apps in its ecosystem also increasing.

Oil prices soften

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) will be on watch today after oil prices softened. According to Bloomberg, the WTI crude oil price fell 0.5% to US$59.32 a barrel and the Brent crude oil price dropped 0.4% to US$62.95 a barrel. Oil prices fell after its supply outlook outweighed rising demand.

Gold price falls

Gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could come under pressure after the gold price tumbled on Friday night. According to CNBC, the spot gold price fell 0.75% to US$1,744.80 an ounce. Rising bond yields weighed on the precious metal.

Brickworks goes ex-dividend

The Brickworks Limited (ASX: BKW) share price is going ex-dividend this morning and could trade lower. Last month the building products company declared a fully franked interim dividend of 21 cents. This will now be paid to eligible shareholders later this month on 28 April.

More reading

• These were the best performing ASX 200 shares last week
• These were the worst performing ASX 200 shares last week
• Is Bapcor (ASX:BAP) the best defensive ASX share to own?
• Why it looks like a V-shaped recovery for the Xero (ASX:XRO) share price
• Is the Coles (ASX:COL) share price a buy today?

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 Xero. The Motley Fool Australia owns shares of and has recommended Brickworks. 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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If you’re looking to a make a new addition or two to your portfolio next week, then you might want to take a look at the ASX shares listed below.

Here’s why they could be among the best ASX shares to buy right now:

Cochlear Limited (ASX: COH)

The first ASX share to look at is Cochlear. It is a global leader in the development, manufacture, and distribution of cochlear implantable devices for the hearing impaired.

Cochlear has been a consistently positive performer over the last decade. This has been driven by its expanding global distribution network, its investment in research and development, and growing demand due to ageing populations.

And while the pandemic hit the company hard, it has been recovering strongly now the worst is over. For example, in February Cochlear released its half year results and reported an underlying net profit of $125.3 million. This profit was down only 4% in constant currency from its record first half profit a year earlier. It’s important to note that the prior corresponding period was of course pre-COVID.

Looking to the future, the company looks well-placed to benefit from the aforementioned ageing populations tailwind. Especially given the industry’s high barriers to entry and its high quality product portfolio.

Macquarie is a fan of the company. Its analysts currently have an outperform rating and $245.00 price target on Cochlear’s shares.

NEXTDC Ltd (ASX: NXT)

Another ASX share to consider is NEXTDC. From 11 world class Tier III and Tier IV data centre facilities across Australia, NEXTDC provides colocation services to local and international organisations. 

The structural shift to the cloud, which has accelerated during the pandemic, has led to significant demand for NEXTDC’s services over the last few years. Positively, this shift still has a long way to go, which is expected to underpin strong sales and profit growth for the foreseeable future.

This should be supported by its expansion into the Asia market. NEXTDC recently opened up offices in Singapore and Tokyo with a view of entering these markets in the near future.

Goldman Sachs is positive on the company. Last week put a conviction buy rating on its shares and lifted its price target to $15.00. The broker believes NEXTDC is well-positioned for growth over the medium term due to strong demand and favourable pricing.

More reading

• Insiders have been buying NextDC (ASX:NXT) and this ASX share
• ASX 200 down 0.4%: Tech shares rise, Afterpay increases US stake
• 4 fantastic ASX shares with exposure to the cloud computing boom
• Aussie dollar tipped to weaken and this ASX share stands to gain the most
• Top brokers name 3 ASX shares to buy today

James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Cochlear Ltd. The Motley Fool Australia has recommended Cochlear 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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Are you looking for some dividend options for your portfolio next week? Then check out the two ASX shares listed below.

Both of these dividend shares offer investors generous yields. Here’s what you need to know about them:

Australia and New Zealand Banking GrpLtd (ASX: ANZ)

The last few years have been difficult for ANZ and the rest of the big four banks. The Royal Commission, the housing market downturn, and the pandemic all weighed heavily on their performances.

Positively, all three of these headwinds are now out of the way, putting ANZ in a position to return to growth again. This should be supported by the relaxing of responsible lending rules and the booming housing market.

One broker that is positive on the bank is Morgans. It recently reiterated its add rating and lifted the price target on the company’s shares to $31.00. This compares to the current ANZ share price of $28.74.

Morgans is also forecasting a $1.45 per share dividend in FY 2021 and a $1.61 per share dividend in FY 2022. Based on the current ANZ share price, this represents fully franked yields of 5% and 5.5%, respectively.

Charter Hall Social Infrastructure REIT (ASX: CQE)

A second ASX dividend share to consider buying is the Charter Hall Social Infrastructure REIT. As its name implies, this real estate investment trust is focused on high quality social infrastructure properties. This includes properties with specialist use such as childcare centres and government buildings.

These are great properties to own. Not only do they have limited competition and low substitution risk, they have very long leases. For example, at the end of the first half of FY 2021, the company’s portfolio was 99.7% leased with a weighted average lease expiry (WALE) of 14 years.

Another positive was the increasing number of leases on fixed rent reviews. This metric has increased to 63.3% from 53.6% at the end of June. This bodes well for its future growth.

This strong form allowed the company to increase its FY 2021 distribution guidance to 15.7 cents per unit. Based on the current Charter Hall Social Infrastructure share price, this represents a 4.85% yield.

One broker that is a fan is Goldman Sachs. It currently has a conviction buy rating and $3.45 price target on its shares.

More reading

• Is it time to buy ANZ (ASX:ANZ) at today’s share price?
• ASX 200 down 0.4%: Tech shares rise, Afterpay increases US stake
• This broker expects great things from Bank of Queensland’s (ASX:BOQ) results next week
• Seek (ASX:SEK) share price lifts as jobs ads reach 12-year high
• ASX 200 up 0.9%: Cleanaway jumps, tech shares rise, Incitec Pivot sinks

Motley Fool contributor James Mickleboro 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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Fortunately for growth investors, the Australian share market is home to a large number of companies with the potential to grow strongly over the next decade.

Two to consider buying are listed below. Here’s why they are highly rated:

Breville Group Ltd (ASX: BRG)

This appliance manufacturer could be a good option for growth investors.

It has been growing at a quick rate in recent years thanks to its international expansion and favourable tailwinds brought about by COVID-19. These include a shift to cooking and working at home, which has led to an increase in demand for whitegoods such as cooking equipment and coffee machines.

This strong form has continued during the first half of FY 2021. In February, Breville reported a 28.8% increase in revenue to $711 million and a 29.2% increase in net profit after tax to $64.2 million.

Positively, management is confident the second half will be strong and recently upgraded its FY 2021 EBIT guidance to $136 million. This compares to its previous guidance of $128 million to $132 million and will be a 20% increase year on year.

UBS is a fan of the company and is confident in its long term growth story. This is thanks to product launches and its expansion into new markets. The broker currently has a buy rating and $35.70 price target on its shares.

Temple & Webster Group Ltd (ASX: TPW)

Another ASX growth share to consider buying is Temple & Webster. It is one of Australia’s leading online retailers with a focus on furniture and homewares.

Since its launch, the company’s focus has been largely on a dropship model. This is where products are sent directly to customers by suppliers, allowing for a larger product range without the need to carry inventory. However, in recent years the company has been building its own private label range.

This side of the business accounted for 25% of sales during the first half of FY 2021, but management isn’t settling for that. It continues to leverage the consumer data it generates to build out its own range. This is a big positive given these products carry higher margins.

Another positive is its very strong long term growth outlook. When I spoke with CEO, Mark Coulter, in February, he was quick to point out that while the shift to online shopping during the pandemic has benefited the company, Temple & Webster was a high growth company before COVID and is expected to remain one post COVID.

Morgan Stanley certainly expects this to be the case. The broker currently has an overweight rating and $14.00 price target on its shares. It believes it can grow its sales materially over the 2020s.

More reading

• Will the Kogan (ASX:KGN) share price making a comeback in April?
• These ASX retail shares continue to surge higher
• These are the 10 most shorted shares on the ASX
• 3 ASX shares to buy in April 2021
• Brokers name 3 ASX shares to buy right now

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 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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Is the Appen Ltd (ASX:APX) share price a cheap buying opportunity?

Its shares have dropped 55% over the last six months and it’s actually down by 62% since the high in August 2020.

Sometimes an ASX share can look good value after falling so hard, whereas other times it’s still not cheap. Even after a huge decline, a business can still fall a long way.

What happened to the Appen share price?

The ASX tech share, which provides datasets for machine learning and artificial intelligence, reported its FY20 result a few weeks ago for the year to 31 December 2020.

Appen said that revenue went up by 12% to $599.9 million. Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) rose 8% to $108.6 million, whilst statutory EBITDA grew 23%.

Whilst statutory net profit after tax grew 23% to $50.5 million, underlying net profit after tax only rose 1% to $64.4 million. That growth wasn’t as much as investors were expecting that it would be during the year, hence why the Appen share price fell as it updated investors about its expectations throughout the year.

There were some positives that Appen highlighted. It said its customer base is growing with 136 new customer wins in 2020, whilst there was a 34% increase in the number of projects with its top five customers. Appen also said that China revenue was growing by 60% quarter on quarter.

Appen’s two divisions reported mixed results. Relevance revenue increased by 15% to $538.2 million, whilst speech and image revenue dropped by 10% to $61.2 million.

How did Appen explain the challenges?

Management explained that its sales process was impacted by the pandemic-driven shift to working from home, resulting in fewer customer wins in the second quarter and third quarter, before bouncing back in the fourth quarter.  

Appen also said that the pandemic reduced online advertising in the mid-2020s, impacting major customers and resulting in less spending on advertising-related AI programs as resources were re-prioritised to new products and some projects were deferred.

The company said it’s involved in many of these new projects, which are in their early stages and growing, and will complement its major programs. A majority of deferred projects are recommencing in 2021.

Outlook for FY21

Appen said that at February 2021, its year to date revenue plus orders in hand for delivery in FY21 was approximately $240 million.

It’s expecting FY21 underlying EBITDA to be in the range of $120 million to $130 million at constant currency rates, representing growth of 18% to 28%.

Broker ratings on the Appen share price

There are very different opinions about the Appen share price.

Ord Minnett rates Appen shares as a buy, with a price target of $24.75 – that suggests upside of around 50% over the next year. The broker thinks that Appen’s long-term growth can continue and its valuation isn’t expensive.

Using Ord Minnett’s numbers, the Appen share price is valued at 29x FY21’s estimated earnings and 22x FY22’s estimated earnings.

Macquarie Group Ltd (ASX: MQG) has put a price target on Appen of $16 and the broker believes that there’s going to be more competition for Appen as time goes on, hurting margins.

More reading

• 5 things to watch on the ASX 200 on Friday
• These oversold ASX tech shares are ripe for the picking
• Is Canva coming to the ASX?
• 2 beaten down ASX tech shares to buy this week
• 3 stellar ASX growth shares to buy next week

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 Appen Ltd. 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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