Tag: Motley Fool

It’s looking like the S&P/ASX 200 Index (ASX: XJO) is set to give investors a bit of an Easter headache as we round out the shorter trading week this Thursday. After starting this morning in positive territory, the ASX 200 has sunk into red ink this afternoon and is currently down by 0.31% at just over 7,210 points.

They’ll be a bit less chocolate to go around this weekend if the markets continue their current trajectory.

But rather than letting that put a dampener on our long weekend, let’s instead turn to the ASX 200 shares that are currently at the top of the share market’s trading volume charts, according to investing.com. 

The 3 most traded ASX 200 shares by volume this Thursday

Mirvac Group (ASX: MGR)

ASX 200 real estate investment trust (REIT) Mirvac is first up this Thursday. So far this session, a hefty 14.45 million Mirvac units have made their way across the ASX boards. We haven’t heard anything from Mirvac for a while now.

So we’ll have to assume this volume is the result of the movement of Mirvac units themselves. This REIT has indeed had a bit of a volatile day. After closing at $2.14 per unit yesterday, Mirvac opened strong at $2.17. But investors have since cooled off, with Mirvac now up by 0.47% at $2.15 a unit. This bouncing around looks like the cause of this high volume.

Pilbara Minerals Ltd (ASX: PLS)

Next we have ASX 200 lithium leader Pilbara Minerals to check out. This Thursday has seen a sizeable 21.26 million Pilbara shares bought and sold on the markets today. We haven’t seen any news out of Pilbara itself either.

But that hasn’t stopped the Pilbara share price from tanking by a nasty 3.75% this session to $3.59 a share, which explains the volumes on display here. As my Fool colleague James went into this afternoon, this looks like it could be a result of the tumble that lithium stocks took over on the US markets overnight.

Sayona Mining Ltd (ASX: SYA).

Our third, final and most-traded ASX 200 share this Thursday is another lithium stock in Sayona Mining. A whopping 24.13 million Sayona shares have crossed the proverbial Rubicon this far in today’s trading. This looks to be a very similar situation to that of Pilbara.

Fortunately for Sayona investors today, this company isn’t suffering quite as much as some of its peers. Right now, the Sayona share price has slumped by 1.54% down to 19 cents per share but even spent some time in the gain territory this morning. This volatility, as well as the current loss, is probably behind the high trading volumes on display here.

The post Here are the 3 most heavily traded ASX 200 shares on Thursday appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why did the Pilbara Minerals share price just tumble 5%?
• Why did the Sayona Mining share price tumble 13% in March?
• Why Brickworks, Energy Resources, Magellan, and Pilbara Minerals shares are dropping today
• ASX 200 lithium stocks sink again following Albemarle downgrade
• Should I buy ASX 200 property shares following the RBA rate pause?

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

from The Motley Fool Australia https://ift.tt/Ib5r07F

The AMP Ltd (ASX: AMP) share price ended last month higher than it started, trading at $1.05.

That marked a 1.94% month-on-month gain, compared to the S&P/ASX 200 Index (ASX: XJO)’s 1.11% fall over the course of March.

So, what went on with AMP last month? Let’s take a look.

AMP stock outperforms ASX 200 in March

Those invested in AMP were able to breathe a sign of relief in March as the company’s share price recovered a fraction of its February losses.

Shares in the financial services icon tumbled 23% in February amid the release of the company’s first-half earnings.

It was a slump AMP chair Debra Hazelton addressed at the company’s annual general meeting last week, where it faced a first strike on its remuneration policy.

More than 49% of investors voted against the policy, with feedback said to address concerns including the decision to award a bonus above the scorecard outcome and undisclosed short-term incentive targets. Hazelton also said:

The board appreciates that the share price performance in February of this year, may have coloured shareholders’ views of management’s performance.

But there was good news from the ASX 200 constituent in March.

It announced the first-stage completion of the long-waited sale of AMP Capital’s real estate and domestic infrastructure equity business to Dexus Property Group (ASX: DXS).

It came after both companies agreed on a revised transaction structure that would enable the business to change hands without AMP’s interest in China Life AMP Asset Management Company.

Dexus paid around $337 million at first completion, including $105 million for sponsor investments and $57 million for the cash held on the business’s balance sheet.

AMP share price snapshot

The AMP share price has dumped 16% over the course of 2023 so far. Though, it’s 7% higher than it was this time last year.

Comparatively, the ASX 200 has lifted 4% year to date and has fallen 4% over the last 12 months.

The post Why did the AMP share price beat the ASX 200 in March? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• The first AMP dividend in over 2 years is being paid today. Here’s the lowdown
• 5 things to watch on the ASX 200 on Monday
• AMP share price slips amid expected first strike on remuneration
• Here are the top 10 ASX 200 shares today
• Sunk $3,000 into AMP shares 5 years ago? Here’s how much passive income you’ve realised

Motley Fool contributor Brooke Cooper 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 Scott Phillips.

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

If you thought dividend season on the ASX was almost over, think again. Yes, while most of the All Ords blue chip shares have either paid out their latest dividends, or at least already traded ex-dividend, there’s still a chance to get in on some upcoming shareholder payments before it’s too late.

So today, let’s discuss four ASX All Ordinaries Index (ASX: XAO) shares that are scheduled to go ex-dividend next week. When a company trades ex-dividend, eligibility for the next dividend payment is cut off to new shareholders.

Thus, we normally see a corresponding drop in share price when this happens. This reflects the loss of value for investors going forward.

So here are four ASX All Ords shares that will trade ex-dividend next week.

Four ASX All Ords shares trading ex-dividend next week

Seven Group Holdings Ltd (ASX: SVW) is first up. Back in February, Seven announced that its interim dividend for 2023 would come in at 23 cents per share, fully franked. That’s flat on last year’s interim dividend payment, as well as the final dividend that was paid out last October.

Investors will see this dividend arrive on 5 May. But the shares will go ex-dividend next week on 11 April.

Next up is Horizon Oil Ltd (ASX: HZN). This All Ords energy share is set to pay out one of its largest dividends ever later this month. Investors are in line to bag a 1.5 cent per share payout, unfranked, on 21 April. Horizon shares will trade ex-dividend for this payment next week on 13 April.

Let’s now consider All Ords retail share Best & Less Group Holdings Ltd (ASX: BST). Best & Less declared an interim dividend of 8 cents per share back in February, a reduction from the 11 cents per share interim dividend investors enjoyed in 2022.

Even so, this fully-franked dividend will be arriving in shareholders’ proverbial mailboxes later this month on 28 April. Eligibility for this payout will close next week though, on 13 April.

Finally today, let’s check out Duxton Water Ltd (ASX: D2O). Duxton will be sending a final dividend worth a fully franked 3.4 cents per share to All Ords investors on 28 April. That’s the company’s largest-ever dividend payment.

But once again, eligibility will be shut off next week on 13 April when Duxton shares trade ex-dividend.

The post 4 ASX All Ords shares trading ex-dividend next week appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• 4 ASX 200 shares just upgraded by brokers, one with 18% upside
• 4 ASX All Ords shares smashing the market on big news
• 5 ASX All Ords shares trading ex-dividend this week
• This ASX All Ords share could pay a 16% dividend yield by 2025
• Guess which ASX All Ordinaries stock just crashed 25%

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

from The Motley Fool Australia https://ift.tt/oGPITr2

The Pilbara Minerals Ltd (ASX: PLS) share price is declining on the last day of trading before the Easter break.

Pilbara shares fell 5% at yesterday’s close to $3.545. Pilbara shares have since recovered some of those gains and are now down 3.62% to $3.595.

For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) is down 0.76% today.

What’s going on?

Pilbara is not the only ASX lithium stock in the red today. Allkem Ltd (ASX: AKE) shares are descending 3.57%, while Lake Resources N.L. (ASX: LKE) shares are shedding 5.26%.

ASX lithium shares including Pilbara appear to be sliding after US lithium stocks fell overnight.

Lithium giant Albemarle Corporation (NYSE: ALB) tumbled 6.14%, while Sociedad Quimica y Minera de Chile (NYSE: SQM) slid 1.76%.

As my Foolish colleague James noted this morning, Bank of America securities analysts downgraded Albemarle to underperform and slashed the price target on its shares by 25% to US$195.

Falling lithium prices were the main reason for this downgrade, with the broker noting “the negative earnings revisions are forthcoming”.

The Lithium Carbonate Index (battery grade) has fallen 3.42% in a day to US$34,139.67 on the Shanghai Metals Market.

Meanwhile, analysts at Macquarie have recently placed a buy rating on Pilbara shares with a $7.70 price target. This implies an upside of 114% based on Pilbara’s current share price.

Macquarie analysts remain positive on Pilbara’s earning potential, despite the recent lithium price falls.

Macquarie is forecasting Pilbara to delve out a fully franked dividend per share of 41 cents in FY23 and 30 cents in FY24.

Pilbara Minerals share price snapshot

The Pilbara Minerals share price has climbed 7.31% in the last year.

This ASX lithium share has a market capitalisation of about $10.8 billion based on the current share price.

The post Why did the Pilbara Minerals share price just tumble 5%? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why Brickworks, Energy Resources, Magellan, and Pilbara Minerals shares are dropping today
• ASX 200 lithium stocks sink again following Albemarle downgrade
• Buy Pilbara Minerals and this ASX dividend share: analysts
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why are ASX 200 lithium shares having such a miserable week?

Motley Fool contributor Monica O’Shea 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 Scott Phillips.

from The Motley Fool Australia https://ift.tt/Ha6RBl9

It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Accent Group Ltd (ASX: AX1)

According to a note out of Bell Potter, its analysts have retained their buy rating and lifted their price target on this footwear retailer’s shares to $2.80. Bell Potter believes that Accent is well-placed to benefit from having a younger target demographic, emerging trends in casual/trend footwear, and the NSW Back to School voucher. The Accent share price is trading at $2.42 this afternoon.

Bega Cheese Ltd (ASX: BGA)

Another note out of Bell Potter reveals that its analysts have retained their buy rating on this diversified food company’s shares with an improved price target of $4.10. The broker is feeling confident about Bega Cheese’s outlook thanks to its exposure to relatively stronger commodities (cream cheese and mozzarella) against a backdrop of commodity driven weaker southern farmgate prices. All in all, Bell Potter believes the company is well-placed to grow its EBITDA to $200 million in FY 2024 from an estimated $159 million in FY 2023. The Bega Cheese share price is fetching $3.77 on Thursday.

Seek Ltd (ASX: SEK)

Analysts at Morgans have retained their add rating on this job listings company’s shares with an improved price target of $28.40. Morgans was pleased with the company’s investor day update this week. It highlights that Seek is targeting $2 billion in revenue by FY 2028, which is well ahead of the previous consensus estimate of $1.7 billion. The Seek share price is trading at $24.73 this afternoon.

The post Brokers name 3 ASX shares to buy now appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• This ASX All Ords share has soared 70% in 6 months. Is it too late to buy?
• Why Bega Cheese, Elanor Investors, Neometals, and Talga shares are pushing higher
• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX 200 shares today
• Top brokers name 3 ASX shares to buy today

Motley Fool contributor James Mickleboro has positions in Allkem. 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 Scott Phillips.

from The Motley Fool Australia https://ift.tt/RKgjAow

The Accent Group Ltd (ASX: AX1) share price has soared more than 70% over the past six months. But, could the ASX All Ordinaries (ASX: XAO) share keep sprinting ahead of the market?

For context, the All Ords Index has only risen by 5% in the last six months, so the retail share has shown massive outperformance in a relatively short amount of time.

Six months ago, we were in the depths of another market decline as investors worried about high inflation and rising interest rates.

It’s understandable there has been a bit of recovery. Investors don’t usually stay negative forever – the market generally looks ahead to recovery, which can explain why share prices rise before the economy has improved.

But, I think there’s more to Accent’s rise than just investors being more optimistic about the retail sector. Accent is showing very promising signs for the longer term, which was demonstrated in its FY23 half-year result.

For readers who don’t know, the ASX All Ords share sells a variety of shoe brands that it acts as distributor for, as well as ones it owns, including Sketchers, Vans, CAT, Kappa, and Hoka. It also owns The Athlete’s Foot and Platypus Shoes retail brands.

Accent’s strong result

In the first six months of FY23, the company reported that total sales increased 39% to $825 million, earnings before interest, tax, depreciation and amortisation (EBITDA) rose 70.9% to $170.2 million, earnings before interest and tax (EBIT) went up 201% to $91.2 million, and net profit after tax (NPAT) climbed 294% to $58.3 million.

For me, it was very encouraging to see that each profit line improved faster than the one before it. What I mean by that is, EBIT grew faster than EBITDA, and NPAT rose more quickly than EBIT. It’s a good sign for the company’s scalability.

Ultimately, NPAT is one of the main things that a business is judged by — and what funds dividends. It’s pleasing that a 39% rise in total sales led to a large increase in profit, though it’s unlikely that FY24 and beyond will show as much NPAT growth.

The result was very impressive from the ASX All Ords share, but I think that Accent has laid the foundations for future growth of sales and profitability.

Growth plans

In the first half of FY23, it added 53 new stores. It could take a year before the full benefit of those stores is seen in the financials when a full year of sales has been generated from each store.

The business is expecting to open another 20 new stores in the second half of FY23. This could help sales and earnings in FY24.

I think further store growth is likely in FY24 and beyond. Growth could be accelerated by adding new brands to its portfolio.

But the next 12 months or so could be tricky for retailers like Accent. The question is, will the Australian population continue to buy as many shoes as they have in recent times?

Is the Accent share price good value?

According to Commsec estimates, the All Ords ASX share is valued at 14x FY23’s projected earnings.

I think this seems like a reasonable valuation. So, I’m not going to suggest it’s going to rise another 70% in the next six months. I believe it was undervalued last year, but it doesn’t seem cheap today. Certainly, I’d prefer to buy it at a much cheaper price, but I think it can outperform the market over the next five years.

The post This ASX All Ords share has soared 70% in 6 months. Is it too late to buy? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Brokers name 3 ASX shares to buy now
• Don’t underestimate the earnings potential of this ASX 300 share: Goldman Sachs
• Brokers name 3 ASX shares to buy now
• 7 ASX dividend shares you can buy for under $10
• Forget term deposits and buy these high-yield ASX dividend shares instead: experts

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 Scott Phillips.

from The Motley Fool Australia https://ift.tt/rLaMKjq

If you’re looking for ASX 200 growth shares to buy, then look no further!

The team at Morgans has named a number of growth shares on its best ideas list for April.

Two growth shares that have been given the thumbs up are listed below. Here’s why it is bullish on them:

Lovisa Holdings Ltd (ASX: LOV)

The first ASX 200 growth share that Morgans rates highly enough to have on its best ideas list is this fast fashion jewellery retailer. Its analysts currently have an add rating and $28.50 price target on its shares.

The broker is bullish on Lovisa due to its global expansion plans, which it believes could generate stellar returns. It commented:

LOV is a global fast fashion jewellery brand with more than 700 stores in more than 30 countries. We think it may prove to be one of the biggest success stories in Australian retail. With ambitious and well-incentivised new leadership in place, we think now is the time LOV steps up to become a global force. LOV has accelerated its organic rollout in the US and entered into a number of new markets, including Hong Kong, Mexico, Italy, Columbia and Peru.

We believe it is poised to enter both Vietnam and Taiwan in coming months. Investment will be needed to expand LOV’s network in the US and Europe and to take it into new markets, but the returns could be stellar. We think LOV’s products fill an underserved niche, offering fast fashion jewellery at prices that are attainable to a resilient target demographic.

Xero Limited (ASX: XRO)

Another ASX 200 growth share on the broker’s best ideas list is Xero. It is a leading global cloud accounting platform provider. Morgans currently has an add rating and $97.00 price target on its shares.

The broker believes investors should be pouncing on Xero’s shares after recent weakness. It said:

XRO is a high quality cash generative business with impressive customer advocacy and duration. Over the last 12 months rising interest rates and competition have made things harder for Xero. However, we see the current short-term weakness as a rare opportunity to buy a high quality global growth company at a discount to the life time value of its current customer base.

The post Morgans names the best ASX 200 growth shares to buy in April appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Top ASX growth shares to buy in April 2023
• ASX 200 rebounds after RBA hits pause on its rate hikes
• Morgans names 3 more of the best ASX 200 shares to buy in April
• 2 excellent ASX 200 shares I’d buy in April (and hold until at least 2030)
• How to make passive income for life with just $5 a day

Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Lovisa and Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended Lovisa. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/Fp14o9S

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end its winning run with a small decline. At the time of writing, the benchmark index is down 0.3% to 7,214.9 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are pushing higher:

Bega Cheese Ltd (ASX: BGA)

The Bega Cheese share price is up 3% to $3.74. This morning, analysts at Bell Potter retained their buy rating on the diversified food company’s shares with an improved price target of $4.10. It said: “In our view the exposure of BGA to relatively stronger commodities (cream cheese and Mozzarella) against the backdrop of commodity driven weaker southern farmgate prices could see EBITDA approach previous BGA-LDD targets of $200-220m.”

Elanor Investors Group (ASX: ENN)

The Elanor Investors share price is up 12% to $1.66. This follows news that the investment company is acquiring the real estate funds management business of Challenger Ltd (ASX: CGF). Elanor is paying $41.8 million in scrip for the business. This will see Challenger become Elanor’s largest shareholder with an 18.2% stake.

Neometals Ltd (ASX: NMT)

The Neometals share price is up 6% to 60.5 cents. This morning, this battery materials company announced that it will be increasing its ownership in the Vanadium Recovery Project’s incorporated joint venture company, Recycling Industries Scandinavia, to 72.5%. The joint venture is currently working towards a final investment decision to construct a facility in Pori, Finland that will process and recover high-purity vanadium pentoxide.

Talga Group Ltd (ASX: TLG)

The Talga share price is up 4% to $1.68. Investors have been buying this graphite developer’s shares after it announced the receipt of an environmental permit for the Nunasvaara South natural graphite mine. It is part of the company’s vertically integrated Vittangi Anode Project in northern Sweden.

The post Why Bega Cheese, Elanor Investors, Neometals, and Talga shares are pushing higher appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Elanor Investors share price surges 17% on $3.4 billion Challenger funds deal
• Guess which ASX 300 battery stock is soaring 18% on a ‘key approval’
• 2 ASX 200 directors buying up their company shares this week

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

from The Motley Fool Australia https://ift.tt/tCirpM8

Harvey Norman Holdings Limited (ASX: HVN) shareholders have been left to lick their wounds after a scathing past 12 months for the ASX retail share. Succumbing to the waning demand, the Harvey Norman share price is now 27.8% lower than a year ago — fetching $3.70 apiece.

Shares in the 40-year-old multinational retailer are struggling to find support amid dwindling profits and slowing sales. Yet, the company’s co-founder and chair, Gerry Harvey, has been scooping up Harvey Norman shares to the tune of more than $80 million worth throughout March.

It all begs the question: should we add this ASX 200 retail share to our shopping cart?

All eyes on interest rates

An uncertain half ahead was a common theme among retailers during the February earnings season.

The strength of businesses, such as Harvey Norman, fundamentally comes down to the confidence and health of the average household budget. Hence, you can begin to imagine the ramifications of the current rate-rising environment.

After 10 consecutive interest rate hikes by the Reserve Bank of Australia, the tightening appears to be having its intended effect.

Data released by Commbank last month showed a 9.8% decline in retail spending intentions for February compared to the prior month. Similarly, the Australian Bureau of Statistics recently presented the slowest year-on-year growth in retail trade since December 2021.

These subdued spending habits were evident in Harvey Norman’s weak total system sales for the first half of FY2023. The top line figure was an underwhelming 1.4% above the prior corresponding period. Meanwhile, reported net profit after tax (NPAT) and non-controlling interests declined 15.1% to $365.9 million.

There’s a good chance investors are remaining cautious around ASX retail shares as the ‘mortgage cliff’ is expected to be coming up around June. If a substantial spending crunch is to occur, this will probably be its onset.

Retailers are likely first in line to get chopped from the budget as financial distress materialises, according to global consulting firm McKinsey & Company. In turn, many former Harvey Norman shareholders have decided not to stick around to find out how bad it could get.

Would I buy this ASX retail share?

The economic outlook is certainly hazy — and there’s no telling if we’ve seen the last of the rate hikes — but I’m inclined to be somewhat quietly optimistic on the Harvey Norman share price.

Personally, I tend to believe we’re close to peak tightening. Sure, rates could remain higher for longer than we’d prefer, but will that cause the devastation that is currently being priced in? I’m not so convinced.

Currently, analyst estimates suggest a bottoming in Harvey Norman’s earnings in FY2024 at around $425 million, as shown above.

At today’s market capitalisation, that would calculate out to be a price-to-earnings (P/E) ratio of nearly 11 times. Hardly expensive in my view when the global retail industry average earnings multiple is around 17 times.

Furthermore, the ASX 200 retail share hasn’t traded on an earnings multiple this low since the Global Financial Crisis, depicted in the chart above.

Back then, the company had a debt-to-equity ratio of approximately 29%. Today, the balance sheet is stronger with that same ratio now around 20%.

As such, I personally believe there could be a strong upside to the Harvey Norman share price from here.

The post This iconic ASX 200 retail share is down 28% over the past year. Is it time to buy? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Top ASX dividend shares to buy in April 2023
• Why Appen, Harvey Norman, Healthco, and Lake shares are dropping today
• Why is the Harvey Norman share price diving on Friday?
• 5 things to watch on the ASX 200 on Friday
• 4 ASX 300 directors buying up their company shares in the past week

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Harvey Norman. The Motley Fool Australia has positions in and has recommended Harvey Norman. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/TnZfsMB

The Woodside Energy Group Ltd (ASX: WDS) share price is slightly in the red today. Woodside shares are sliding 0.5% at last look and are currently fetching $34.05.

For perspective, the S&P/ASX 200 (ASX: XJO) is down 0.27% today. The S&P/ASX 200 Energy Index (ASX: XEJ) is also sliding 0.41%.

But could Woodside be in for some tough times ahead? Let’s take a look at the outlook for the Woodside share price.

What’s ahead?

Woodside is a major oil and gas producer on the ASX 200. The brent crude oil price is currently down 0.67% to US$84.42 a barrel, while the natural gas price is falling 1.39% to US$2.13 per MMBtu, according to Bloomberg.

Citi has downgraded the Woodside share price to a sell, The Australian reported this week. Santos Ltd (ASX: STO), also an oil and gas producer, has been cut to neutral.

Analysts are concerned a riskier environment for capital allocation could impact production and growth projects.

Citi head of energy James Byrne, quoted by the publication, said:

More onerous petroleum resource rent tax; a more aggressive safeguard mechanism, Australian Domestic Gas Security Mechanism; price caps and regulated pricing; collapsing contractors; labour shortages; and a meticulous offshore regulator; in isolation, these changes could be absorbed by industry, but in aggregate are likely to result in various consequences.

The ongoing allocation of capital in Australian energy markets is crucial for the sanctity of energy markets on both East and West coasts.

He said companies such as Woodside could choose to “take capital abroad” to locations like the Gulf of Mexico.

Citi has placed a $30 price target on the Woodside share price. This implies a nearly 12% downside based on the current share price.

Woodside reported a 223% boost in underlying net profit after tax in calendar year 2022 to US$5.23 billion.

Eligible Woodside shareholders received a record final dividend of US$1.44 per share yesterday.

Woodside share price snapshot

The Woodside share price has climbed 1% in the last year. In the past month, Woodside shares have declined nearly 10%.

Woodside has a market capitalisation of about $64.7 billion based on the current share price.

The post Here’s Citi’s forecast for the Woodside share price appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• The whopper Woodside dividend is being paid today. Here’s the lowdown
• How I would build a Warren Buffett-style portfolio with ASX 200 shares
• 5 things to watch on the ASX 200 on Wednesday
• How much would I need to invest in Woodside shares for a $500 monthly income?
• Why EOS, Lake Resources, Tyro, and Woodside shares are racing higher today

Motley Fool contributor Monica O’Shea 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 Scott Phillips.

from The Motley Fool Australia https://ift.tt/pmLiX6B