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Although the Australian share market has been out of form over the last few trading days, that hasn’t stopped a number of shares from charging higher.

Three ASX shares that have climbed so much they just hit 52-week highs or better are listed below. Here’s why they are flying high right now:

Costa Group Holdings Ltd (ASX: CGC)

The Costa share price jumped to a 52-week high of $4.55 yesterday. Investors were buying the horticulture company’s shares after the release of its full year results. Thanks to strong demand and favourable pricing, Costa reported an 11.2% increase in revenue to $1,164 million and an impressive 108.4% jump in net profit to $59.4 million. This was well ahead of expectations. For example, Morgans was forecasting a profit of $52.2 million for the 12 months, whereas the market consensus was for a profit of $48.1 million.

Lovisa Holdings Ltd (ASX: LOV)

The Lovisa share price stormed to a record high of $15.43 on Monday. Investors have been fighting to get hold of the fashion jewellery retailer’s shares since the release of its half year results last week. Although Lovisa reported a sizeable decline in sales and profits, it noted a significant improvement in its performance. It also revealed that it has started the second half strongly, with like for like sales growing 12% during the first seven weeks of the half. Looking ahead, management appears very positive on its global expansion. As are analysts at Morgans. Partly for this reason, the broker reaffirmed its add rating and lifted its price target significantly to $17.95.

Pro Medicus Limited (ASX: PME)

The Pro Medicus share price rose to a new record high of $48.24 yesterday. A series of major contract wins has helped drive this health imaging company’s shares higher in recent months. In addition to this, last week analysts at Goldman Sachs upgraded Pro Medicus’ shares to a buy rating with a $53.80 price target. Goldman has been impressed with the way the company continues to win large contracts in a difficult operating environment. It believes this leaves it well-positioned to grow its earnings at a rapid rate over the coming years.

More reading

• ASX 200 drops 0.2%, Costa soars, BOQ is buying ME Bank
• Leading brokers name 3 ASX shares to buy today
• ASX 200 up 0.1%: Macquarie upgrades guidance, Costa impresses, NIB surges higher
• Why Costa, Lovisa, OZ Minerals, & Tyro shares are racing higher today
• Costa (ASX:CGC) share price in focus after its results smash expectations

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 recommends Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO. The Motley Fool Australia 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.

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If you have a penchant for growth shares, then you’re in luck. The Australian share market is home to a good number of companies growing their earnings at a quick rate.

Two ASX growth shares that could be worth a closer look are listed below. Here’s what you need to know about them:

Adore Beauty Group Limited (ASX: ABY)

Adore Beauty is a growing online beauty retailer with almost 600,000 active customers.

In December the company released a trading update which revealed that its sales have been growing very strongly over the last few months. So much so, it was forced to upgrade its first half guidance.

Management advised that its first half sales are expected to be $95.2 million. This is a big jump on the prior corresponding period and 7% higher than its prospectus forecast of $89 million. Positively, the expected uplift in revenue is also anticipated to have a positive impact on the earnings forecast for the half.

Pleasingly, this is still only scratching at the surface of its market opportunity. Adore Beauty still has a very long runway for growth in an Australian beauty and personal market worth an estimated ~$11 billion a year.

Morgan Stanley is positive on the company and appears to believe it is well-placed to benefit from the ongoing shift to online shopping. The broker currently has a buy rating and $8.35 price target on its shares.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

Another ASX growth share to look at is this pizza chain operator. It has been an incredibly positive performer over the last six months and management appears confident this strong form will continue.

In its recently released half year results, Domino’s revealed a 16.5% increase in total global food sales to $1.84 billion. This was driven by strong same store sales growth and the opening of 131 organic new stores.

Thanks to operating leverage, things were even better on the bottom line. Domino’s reported a 32.8% increase in underlying net profit after tax to $96.2 million.

Positively, the second half has started very strongly and its CEO, Don Meij, has stated that Domino’s intends to “significantly outperform” its strong first half result.

One broker that appears confident this will be the case is Macquarie. In response to its results, the broker reaffirmed its outperform rating and lifted its price target by 33% to $120.20.

More reading

• These ASX 200 shares are trading near 52-week highs 
• Bell Potter thinks the Domino’s (ASX:DMP) share price is ‘mouthwatering’ 
• Don’t make the same mistake I made
• Top brokers name 3 ASX shares to sell today
• Why CSL, Domino’s, IPH, & Treasury Wine shares are storming higher

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Dominos Pizza Enterprises 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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If you’re looking to gain exposure to the small side of the market, then you might want to take a look at the small cap ASX shares listed below. 

Here’s why these small cap ASX shares could be ones to buy:

Nitro Software Ltd (ASX: NTO)

The first small cap ASX share to look at is Nitro Software. It is the software company responsible for the increasingly popular Nitro Productivity Suite.

This software solution provides integrated PDF productivity, eSignature, and business intelligence (BI) tools to a growing number of customers globally. In fact, at the end of the fourth quarter, Nitro was serving a total of 11,700 business customers. This includes individual users, small businesses, government agencies, and large multinational enterprises. In respect to the latter, Nitro counts over two-thirds of the Fortune 500 as customers.

That fourth quarter update also revealed that its annualised recurring revenue (ARR) has been growing strongly. It reached US$27.7 million at the end of December. This was up an impressive 64% on the prior corresponding period and ahead of its upgraded guidance.

Analysts at Morgan Stanley were very happy with its update. In response to it, the broker put an overweight rating and $3.50 price target on its shares.

Universal Store Holdings Limited (ASX: UNI)

Another small cap ASX share to consider is this growing fashion retailer. Universal Store has a strategy of delivering a frequently changing and carefully curated selection of on-trend products to a target 16-35 year old fashion focused customer.

This strategy has been working wonders for the company and is underpinning stellar earnings growth in FY 2021. Universal Store recently revealed that it expects its underlying earnings before interest and tax (EBIT) to be in a range of $30 million to $31 million for the first half.

This represents growth of between 61% and 67% on the prior corresponding period. Management advised that this was driven by very strong like for like sales growth and margin expansion.

Morgans was very pleased with the update. So much so, the broker put an add rating and $6.93 price target on its shares. Positively, its analysts don’t believe Universal Store’s growth will end here. They believe it can grow its earnings at a 30% compound annual growth rate through to FY 2023.

More reading

• 3 very exciting small cap ASX shares to watch
• 2 rapidly growing small cap ASX shares to buy
• 3 fast-growing small cap ASX shares to watch
• Top brokers name 3 ASX shares to buy next week
• 3 very impressive ASX quarterly updates from last week

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 recommends BIGTINCAN FPO. The Motley Fool Australia has recommended BIGTINCAN FPO and Nitro Software 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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At present, Commonwealth Bank of Australia (ASX: CBA) offers income investors a yield of 0.4% on its term deposits. This is broadly in line with what the rest of the banks are offering.

This means that even if you $1 million invested into these term deposits, you would yield just $4,000 each year. Clearly, this isn’t enough to live from.  

The good news is that far greater yields can be found on the Australian share market.

With that in mind, listed below are two ASX dividend shares that are attractively priced and have generous yields. Here’s what you need to know about them:

Telstra Corporation Ltd (ASX: TLS)

The first ASX dividend share to look at is Telstra. This telco giant looks well-placed to return to growth in the near future thanks to the success of its T22 strategy and its improving mobile outlook.

Another positive is its plan to split into three separate entities. This is expected to allow the telco giant to take advantage of potential monetisation opportunities and unlock value for shareholders.

Analysts at Goldman Sachs are positive on the company. They recently reiterated their buy rating and lifted their price target on its shares to $4.00. It is also forecasting a fully franked 16 cents per share for the foreseeable future.

Based on the current Telstra share price, this will mean a 4.9% dividend yield.

Westpac Banking Corp (ASX: WBC)

With the worst of the pandemic behind us and vaccines rolling out, the banking sector’s outlook is looking significantly more positive now.

Especially given the relaxation of responsible lending rules, the rebounding housing market, and mortgage loan growth.

Another positive is that with the banks well-capitalised and APRA removing dividend restrictions, Westpac and the rest of the big four have been tipped as generous dividend payers in the future.

For now, analysts at Morgans are expecting the banking giant to pay a $1.32 per share fully franked dividend in FY 2021. Based on the latest Westpac share price, this represents a 5.5% dividend yield.

Morgans has an add rating and $27.50 price target on Westpac’s shares.

More reading

• ASX 200 Weekly Wrap: ASX lower despite bumper dividends
• Top brokers name 3 ASX shares to buy next week
• Is the Westpac (ASX:WBC) share price a buy?
• 2 fantastic ASX dividend shares to buy
• Vita Group (ASX:VTG) share price up on results, despite Telstra woes

Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of and has recommended Telstra 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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Brokers regularly review the ASX share market for where they think the best value is available to investors.

There are a number of different global brokers that provide commentary on ASX shares such as Citi and Credit Suisse.

Sometimes those brokers can have very different thoughts about the same business. One broker might think that BHP Group Ltd (ASX: BHP) shares are a buy and another might think that BHP shares are a sell.

Here are two ASX shares that several brokers can all agree on (though they could all be wrong):

News Corporation (ASX: NWS)

News Corp is rated as a buy by at least four brokers.

This business runs a global media empire with many of the world’s most known publishers including the Wall Street Journal, New York Post, Market Watch, The Sun, The Times (UK), The Australian, The Daily Telegraph (Australia), Herald Sun, the Courier Mail, Vogue Australia and News.com.au. It also owns stakes in other assets like REA Group Limited (ASX: REA), Move, Foxtel, Fox Sports and Harper Collins Publishers.

Brokers like Morgan Stanley are a fan of some of News Corp’s assets like Move. Morgan Stanley puts Move at a valuation of between US$5 billion to US$7 billion, meaning the company’s share of Move Inc is worth between US$7 per share to US$10 per share.

UBS thought that the ASX share’s second quarter was noticeably better than expected, with revenue rising 5.5% and operating earnings growing 40%.

The broker believes the strong result from the ASX share was because of good execution of businesses like Dow Jones and Move.

News Corp has also been in the news recently after reaching a global licensing deal with Google to provide news from its news sites around the world in return for “significant payments” by Google.

UBS currently has a share price target of $32.20 for News Corp.

Pinnacle Investment Management Group Ltd (ASX: PNI)

Pinnacle is rated as a buy by at least three brokers.

This business invests in a number of investment managers and gives them governance framework, working capital, seed funding and a range of institutional quality and cost effective distribution and other non-investment support services.

Pinnacle believes this model works because it allows investment professionals to be free of unnecessary distractions relating to regulations, compliance and risk, company secretarial and legal counsel, human resources and so on.

The ASX share recently announced its FY21 half-year result which said that net profit after tax increased by 120% to $30.3 million.

Pinnacle’s share of affiliate’s net profit grew 80% to $31.8 million. Aggregate affiliate funds under management (FUM) was $70.5 billion at 31 December 2020. This was up 20% from June 2020, or up 14% year on year.

Aggregate retail FUM of $16.7 billion at 31 December 2020, up 28% from June 2020 and up 17% year on year.

Broker Morgans was impressed by this result and sees a sustainable increase in underlying earnings. It has increased its expectations for the rest of the year to due higher FUM, stronger net inflows expectations.

Morgans has a share price target of $9.40 for the ASX share.

More reading

• 2 of the best ASX 200 blue chip shares to buy
• Facebook vs Australia feud escalates as government pulls ads
• Facebook news ban to devastate ASX: expert
• One year on and 50% up, the All Technology Index is booming
• 2 high quality blue chip ASX shares to buy

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia has recommended REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The New Hope Corporation Limited (ASX: NHC) share price will be on watch today after releasing its FY21 second quarter update.

New Hope is one Australia’s biggest coal miners with operations in both Queensland and NSW.

New Hope’s second quarter update

The coal company said that its total saleable coal production for the quarter to January 2021 fell 18% to 2.88 million tonnes, while total coal sold decreased by 14.8% to 3.02 million tonnes.

Looking at the half-year to January 2021, total saleable coal production was down 27.9% to 6.21 million tonnes and total coal sold fell by 23.3% to 6.36 million tonnes.

New Hope said that there had been stronger demand for coal forecasted as economic activity increases across Asia. Total coal sales for Bengalla were better than planned at 2.47 million tonnes.

In its NSW operations, the company said the operation produced less bypass coal than expected due to market pricing supporting delivery of processed coal to maximise value. Prime material movement is ahead of plan with good performance of the excavator and truck fleets, and the dragline since its return to full operations. Recent storms and wet weather in Newcastle resulted in port closures and rail network outages during the quarter with some cargoes slipping into the next quarter. Bengalla expects to deliver above plan sales tonnes for the full financial year.

Regarding the new Acland Mine, the High Court of Australia handed down its decision on an appeal by the Oakey Coal Action Alliance against the rulings of the Queensland Court of Appeals. The High Court upheld the appeal and ordered the matter be re-heard in the Queensland Land Court for a third time.

The West Moreton operations continued to focus on rehabilitation, monitoring and maintenance activities at the Jeebropilly, New Oakleigh and Chuwar sites during the quarter. At the New Oakleigh site, 241,000 bank cubic metres of material has been removed from remnant spoil and relocated into the Normanton Pit void. The preliminary cattle grazing trial result showed that the productivity of the rehabilitated pasture is comparable to, or greater than, the pre-mining levels.

Coal prices

New Hope said that the monthly average Newcastle coal price (in US dollar terms) has increased by 48% since October 2020 on the back of robust demand supported by a colder than expected northern hemisphere winter.

The high ash thermal coal market has seen similar gains despite China’s continued ban on the importation of Australian coal.

New Hope expects that pricing will flatten as the northern hemisphere comes out of the peak winter buying period.

Economic activity in Asia is exhibiting levels stronger than expected and this is turning into stronger than forecast thermal coal demand, according to New Hope.

More reading

• Did China just blink on its Aussie coal ban? ASX energy shares in the spotlight
• Fossil fuels vs renewables: What’s ahead for ASX energy shares?
• ASX coal stocks increasingly isolated with rise of start-ups like MGA Thermal

Motley Fool contributor Tristan Harrison 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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On Monday the S&P/ASX 200 Index (ASX: XJO) was out of form and started the week in the red. The benchmark index fell 0.2% to 6,780.9 points.

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

ASX 200 expected to rise

The Australian share market looks set to push higher on Tuesday despite a mixed start to the week on international markets. According to the latest SPI futures, the ASX 200 is expected to open the day 18 points or 0.3% higher this morning. In late trade on Wall Street, the Dow Jones is up 0.45%, the S&P 500 is down 0.2%, and the Nasdaq index has sunk 1.4%.

Oil prices jump

It looks set to be a good day for energy producers Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) after oil prices surged higher. According to Bloomberg, the WTI crude oil price is up 3.6% to US$61.35 a barrel and the Brent crude oil price is up 3.2% to US$64.93 a barrel. The catalyst for this was speculation that it could take US energy producers longer to return from the winter freeze.

SEEK results

The SEEK Limited (ASX: SEK) share price will be in focus today when it releases its half year update. Earlier this month analysts at Goldman Sachs tipped the job listings company to upgrade its FY 2021 guidance. The market is currently expecting SEEK to deliver operating earnings of $404 million in FY 2021, but it feels this could be lifted to $420 million. This is due to the continual improvement in macro trends relative to the October levels when its guidance was given.

Gold price storms higher

It could be a positive day for gold miners such as Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Limited (ASX: NCM) after the gold price stormed higher. According to CNBC, the spot gold price rose 1.7% to US$1,807.80 an ounce overnight after investors chose for the precious metal as a hedge against rising inflation.

Crown hit with Royal Commission

The Crown Resorts Ltd (ASX: CWN) share price could come under pressure today after being hit with a Royal Commission. The inquiry will look to establish the suitability of Crown to hold its Victorian casino licence. Helen Coonan, Crown’s Executive Chairman, said: “Crown welcomes the announcement from the Victorian Government as it provides an opportunity to detail the reforms and changes to our business to deliver the highest standards of governance and compliance, and an organisational culture that meets community expectations.”

More reading

• Crown (ASX:CWN) share price on watch on VIC royal commission
• ASX 200 drops 0.2%, Costa soars, BOQ is buying ME Bank
• 2 of the best ASX 200 blue chip shares to buy
• The QBE (ASX:QBE) share price jumps to 2021 high on broker upgrades
• These ASX gold shares have reported record profits and dividends

Motley Fool contributor James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia has recommended Crown Resorts Limited and SEEK Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Crown Resorts Ltd (ASX: CWN) share price will be on watch tomorrow on news that it’s facing a royal commission from Victoria.

This is the latest setback facing Crown Resorts after the casino operator was deemed to be unsuitable to operate the new casino in Sydney.

What was announced today?

Crown Resorts announced this evening that it had been informed by the Victorian Government that it has established a royal commission into Crown Melbourne’s suitability to hold its Victorian casino licence, as well as the suitability of its associates, including Crown.

The casino business said that it will fully co-operate with the royal commission and will engage with the Victorian government about its reform agenda and any further remedial steps identified in response to the NSW inquiry.

The Crown executive Chair, Helen Coonan, said:

Crown welcomes the announcement from the Victorian Government as it provides an opportunity to deliver the reforms and changes to our business to deliver the highest standards of governance and compliance, and an organisational culture that meets community expectations.

Victorians should be assured we recognise the responsibility placed on us by the community, governments and regulators and we will fully co-operate with the royal commission.

The Crown royal commission

The Victorian government also released an announcement about this. It said that establishing a royal commission will ensure the most appropriate access to information regarding Crown Melbourne’s suitability to hold the casino licence given the commission’s powers to compel witnesses and documentation.

Raymond Finkelstein QC will serve as commissioner and chairperson of the royal commission and will hand down his recommendations by 1 August 2021.

Mr Finkelstein QC has served more than 40 years at the Victorian Bar. He retired as a judge of the Federal Court and President of the Competition Tribunal in 2011 and has returned to private practice at the Victorian Bar.

Later this year, the government will legislate to enable the Victorian Gaming and Liquor Regulation Commission (VCGLR) to give effect to any findings of the royal commission.

Melissa Horne, Minister for Consumer Affairs, Gaming and Liquor Regulation, said:

The reports from New South Wales’ ILGA Inquiry were incredibly concerning, which is why we’re establishing a royal commission to get the answer we need about Crown Melbourne. The royal commission will establish the facts and the government and the VCGLR will take any necessary action of the conclusion of the investigation. We will not tolerate illegal behaviour in our gaming industry.

Victorian Premier Daniel Andrews said:

This is about making sure that those who hold a casino licence in Victoria uphold the highest standards of probity and integrity – and making sure they’re accountable for their actions.

The Crown share price finished 0.5% lower on Monday.

More reading

• Crown Resorts (ASX:CWN) share price rises despite earnings hit
• Why investors are watching the Crown (ASX: CWN) share price
• Crown (ASX:CWN) loses its CEO as fallout continues
• ASX 200 falls, Melbourne lockdown bites, Baby Bunting drops
• ASX 200 down 0.3%: Crown CEO hasn’t resigned, Mirvac update, Nearmap remains halted

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Crown Resorts Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Tinybeans Group Ltd (ASX: TNY) share price is reaching for the sky today after the company announced it was eligible for United States OTC listing.

In closing trade this afternoon, shares in the mobile and web-based social media platform are up 18.4% to $1.80.

What did Tinybeans announce?

The Tinybeans share price is shooting higher after the company reported a favourable decision that will extend its reach to US-based investors.

In its release, Tinybeans advised that its OTCQX-quoted ordinary shares are now eligible for electronic clearing and settlement through the Depositary Trust and Clearing Corporation (DTCC) in the US. They will be listed under the code of OTCQX: TNYYF and operate in the same class as ordinary shares.

DTCC is a subsidiary of the Depositary Trust Company (DTC) that manages the electronic clearing and settlement of publicly-traded companies. Securing DTC eligibility means that Tinybeans can be traded in US dollars and in the North American time zone. This promotes a simplified trading process for the company as well as enhancing its liquidity of registered shares.

A range of online brokerage firms such as Ameritrade, Fidelity Investments, Charles Schwab and E*TRADE all offer OTCQX trades.

CEO commentary

Tinybeans CEO Eddie Geller hailed the positive result, saying:

I am delighted to share the news that Tinybeans Group now has DTC Eligibility. We receive requests almost daily from US investors who have had difficulty buying our stock and are extremely pleased to announce that we have obtained DTC eligibility, effective immediately. This means the company’s stock can now be traded in USD for those who wish to do so in the American time zone.

This represents an important step forward in increasing liquidity, broadening our shareholder base and building a strong presence for our company within the US capital markets. We would like to thank our DTC filing agent Glendale Securities, our transfer agent AST and our OTC Sponsor and legal advisor Rimon Law for their efforts

About the Tinybeans share price

In the past 12 months, the Tinybeans share price has increased by 26%. The company’s shares were hit hard during the COVID-19 rout in March last year, falling to a low of 51 cents. However, they have accelerated since October to touch a 52-week high today.

Based on the current share price, Tinybeans has a market capitalisation of around $81 million.

More reading

• ASX 200 drops 0.2%, Costa soars, BOQ is buying ME Bank
• Why the IOUpay (ASX:IOU) share price crashed 13% lower today
• 2 of the best ASX 200 blue chip shares to buy
• Why the Oventus Medical (ASX:OVN) share price is up 7%
• Why the Genetic Signatures (ASX:GSS) share price surged 10% higher today

Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Tinybeans Group Ltd. The Motley Fool Australia has recommended Tinybeans 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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The S&P/ASX 200 Index (ASX: XJO) fell by around 0.2% to 6,781 points.

Here are some of the highlights from the ASX today:

Costa Group Holdings Ltd (ASX: CGC)

The Costa share price was the star performer in the ASX 200 today, rising by around 12%.

It reported its result for the full year ending 27 December 2020.

Costa revealed that its revenue increased by 11.2% to $1.2 billion. Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) rose 47.2% to $144.8 million and underlying net profit grew 108.4% to $59.4 million.

The horticultural business said that it has recovered from drought challenges. The international segment performance was well up on the previous year. There was a sustained Australian category momentum through the second half of the 2020 calendar year, driving increased earnings.

Costa said that there was improvement across the board with successful execution of business fundamentals including yields, quality, costs and COVID-19 management.

Favourable market conditions were supported by positive demand and pricing, especially in the citrus, berry and avocado categories.

Costa said that it’s continuing to manage the business for the long-term.

The company’s balance sheet ended with net debt of $143.9 million. The Costa board decided to declare a dividend of 5 cents per share.

Costa CEO Harry Debney said:

The company is committed to investing in new crop growing methods to achieve improved yields, reduce production costs, and address climate related risks. This is why in CY21 we will commence a commercialisation program for the planting of 40 hectares of protected, trellised high density substrate avocado trees, across a number of regions aligned to our existing avocado plantings. A small trial undertaken over the past three years has already delivered global leading results, including faster tree maturity, higher yield, better fruit quality and greater efficiency of water use versus conventional plantings.

BlueScope Steel Limited (ASX: BSL)

The company reported it FY21 half-year result today. It said that its net profit after tax (NPAT) went up by 78% to $330.3 million. BlueScope revealed that its underlying net profit after tax was $332.8 million.

Underlying earnings before interest and tax (EBIT) for the half-year was $530.6 million, an increase of 75% compared to the prior corresponding period.

The Australian steel products division delivered underlying EBIT of $259.1 million, this was an increase of 103% compared to the prior corresponding period. There has been particularly strong demand for coated and painted products, leading to the strongest domestic volumes since 2010 for the company.

The ASX 200 company’s building products division for Asia and North America generated underlying EBIT of $150.3 million, up 87% compared to the prior corresponding period. The North America business improved significantly, due to improved manufacturing performance and cyclical margin expansion. Its building North America business saw 189% growth of underlying EBIT to $70.5 million.

The BlueScope share price ended the day higher by more than 2%.

Macquarie Group Ltd (ASX: MQG)

The Macquarie share price went up more than 3% today after updating its profit guidance for FY21.

The ASX 200 investment bank said that it’s expecting its FY21 profit to now be up 5% to 10% on FY20.

Extreme weather conditions in North America have significantly increased short-term client demand for Macquarie’s capabilities in maintaining critical physical supply across the commodity complex and particularly in relation to gas and power.

Macquarie’s commodities and global markets (CGM) business physically ships gas on the majority of major pipelines across the US and over time has built capacity to support clients by delivering power and physical commodities to help them meet the unexpected needs of their customers.

Bank of Queensland Limited (ASX: BOQ)

Today, BOQ announced that it’s going to acquire ME Bank for $1.325 billion to create a true challenger to the big four banks.

BOQ said that it’s expected to deliver material scale, broadly doubling the retail bank and providing geographic diversification with strong trusted brands and customer-focused values.

The regional bank said that this is financial compelling. It’s expected to be low double-digit to mid-teens accretive for cash earnings per share (EPS) including full run-rate synergies in FY22.

It’s expected that the pre-tax synergies will be somewhere in the realm of $70 million to $80 million.

BOQ also said that it expects to announce FY21 first half statutory profit growth of 60% to 65% and cash profit growth of 8% to 10%.

More reading

• 2 of the best ASX 200 blue chip shares to buy
• BlueScope (ASX:BSL) share price rises after growing HY21 profit by 78%
• The QBE (ASX:QBE) share price jumps to 2021 high on broker upgrades
• ASX 200 up 0.1%: Macquarie upgrades guidance, Costa impresses, NIB surges higher
• Why Costa, Lovisa, OZ Minerals, & Tyro shares are racing higher today

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO and Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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