Believe it or not, tonight is federal budget night. If you're a little confused, I wouldn't blame you. Yes, we've already had a budget this year, the one delivered back in March.

But that was a different government, with a different Treasurer. Normally, the economics enthusiasts among us get one budget a year to salivate over. But due to the change of government and the new Treasurer's wishes, this year we are getting two for the price of one.

New Treasurer Jim Chalmers is now scheduled to deliver this new budget (some are calling it a mini-budget) at 7.30 pm tonight.

Now, of course, we won't know everything that's in this new budget until it gets released, as is the norm with these things. But we can speculate as to what it might mean for the economy, and of course, ASX shares.

An analysis of the upcoming budget from Bloomberg predicts the key areas to watch are infrastructure, resources, housing, childcare and telecommunications.

Which ASX 200 shares are ones to watch after the budget?

The report points out that the government could be set to pledge $96 billion for road and rail investment. No doubt this will go towards some road and rail upgrades and perhaps even new links altogether. But it also warns that some of this cash may come from scrapping other previous government promises, such as commuter car parks.

Some ASX shares to watch in this space are construction and building companies. Those include Adbri Ltd (ASX: ABC), Boral Limited (ASX: BLD), and Lendlease Group (ASX: LLC). Another one to watch might be toll road operator Transurban Group (ASX: TCL).

The report also predicts that the recent government interest in funding critical mineral supply chains will continue. This could see more grants to ASX 200 shares in the lithium, rare earths and battery metals space. So keep your eye on shares like Pilbara Minerals Ltd (ASX: PLS) and Lynas Rare Earths Ltd (ASX: LYC).

Housing, childcare and telecommunications

Housing continues to be a potent political issue as well. So Bloomberg argues that we could see some further developments addressing these issues in tonight's budget. We already know the government has a new 'first home guarantee' scheme that it took to the election.

The government has also indicated that it wants to see super funds invest in affordable housing. So it will be interesting to see how property-linked ASX 200 shares like REA Group Limited (ASX: REA) and Domain Holdings Australia Ltd (ASX: DHG) fare following this budget.

The government has also already announced an increase in paid parental leave from 18 weeks to 26 weeks from 2024. We could see more announcements in this arena tonight. So more ASX 200 shares to keep an eye on include those in childcare. Think G8 Education Ltd (ASX: GEM) and the like.

Finally, Bloomberg reports that the government is looking at investing another $2.4 billion into the national broadband network (nbn) to expand full-fibre access to another 1.5 million premises by 2025. That could have direct implications for the ASX 200's telco shares. Those include Telstra Corporation Ltd (ASX: TLS), Aussie Broadband Ltd (ASX: ABB), and TPG Telecom Ltd (ASX: TPG).

The post Which ASX 200 shares could benefit from the federal budget? appeared first on The Motley Fool Australia.

The S&P/ASX 300 Index (ASX: XKO) finished up 0.52% to 6,987.6 points on Wednesday.

Earnings season continued with several companies reporting their FY22 or CY22 results today.

Here are the highlights from the earnings reports of these three ASX 300 companies.

Spark New Zealand Ltd (ASX: SPK)

The Spark New Zealand share price finished up 1.9% to $4.83 on Wednesday. The company reported its 2H FY22 earnings, claiming growth in its revenue, EBITDA, and net profit after tax (NPAT) in FY22.

Spark revealed it was increasing its total dividends for the first time since 2016. The ASX 300 share will deliver 25 NZ cents per share in dividends for FY22, with guidance of 27 cents for FY23.

ASX shareholders will receive a final dividend of 14.7 NZ cents per share. The total dividends will be 29.4 NZ cents per share. On today's currency conversion, this equates to 13 cents and 26.6 cents per share respectively.

Spark chair Justine Smyth said:

In a year marked by ongoing Covid-19 disruption and increasing economic volatility, Spark has delivered an incredibly strong result, returning to revenue growth and delivering earnings at the top end of guidance.

Spark's transition from its traditional telecommunications heritage to a more diversified and higher growth digital services provider continues at pace.

As we look to FY23 we have confidence in Spark's ability to grow free cash flow to ~$460-$500 million to fund our ordinary dividend.

Calix Ltd (ASX: CXL)

The Calix share price closed at $6.92, up 4.85% today.

In its FY22 full-year preliminary results, Calix revealed that product revenue dipped 4% to $18.47 million. Total revenue fell by 30% to $20.8 million. It reported a loss of ($12.14 million).

As at 30 June, Calix has $25 million in cash and cash equivalents, up from $15.1 million in FY21. It has a surplus of $16.5 million in total current assets over total current liabilities, up from $15.3 million in FY21.

This ASX 300 share is a technology developer seeking to deliver sustainability solutions for industries.

As we reported recently, the company has developed a kiln capable of decarbonising metals and minerals. The kiln can extract substantial amounts of carbon dioxide to potentially create products such as low-carbon iron ore.

G8 Education Ltd (ASX: GEM)

The G8 Education share price closed the session on Wednesday at $1, up 3.09% for the day. Earlier, the company reported its CY22 half-year earnings.

The childcare operator reported an operating EBIT (earnings before interest and taxes) of $21 million (after lease expenses) for 1H CY22. This is 85% lower than the prior corresponding period (pcp) of H1 CY21.

The company said it was "significantly impacted in Q1 by COVID-19 and floods but recovered in Q2 with 'core' centres delivering higher EBIT than pcp".

Once the impact subsided, the company's strategic improvement program helped create "solid performance in quality, occupancy and profitability".

G8 Education embarked on a cost reduction program in Q2 CY22, with $2.8 million in costs removed in 1H CY22. It says it is now "on track to deliver targeted $13 million-$15 million cost reduction to streamline the business and mitigate inflationary impacts" by the end of 2H CY22.

The company said its balance sheet "remains strong" with net debt at $86.3 million as of 30 June. This is "in line with expectations and reflecting the capital management initiatives and seasonal cash flow profile".

The post 3 ASX 300 shares that climbed higher on earnings updates today appeared first on The Motley Fool Australia.

There is one undervalued ASX sector that's set to benefit from federal Labor taking government that few are thinking about.

That is the ASX-listed childcare space. Operators could see a boost to demand under an Anthony Albanese government, according to Canaccord Genuity.

Why this ASX sector is outperforming today

This probably explains why the Mayfield Childcare Ltd (ASX: MFD) share price surged 9.6% to a record high of $1.49.

The G8 Education Ltd (ASX: GEM) and Evolve Education Group Ltd (ASX: EVO) share prices are also beating the market. They are up 3.5% to $1.19 and 0.7% to $0.70, respectively, at the time of writing.

In contrast, the S&P/ASX 200 Index (ASX: XJO) lost its morning gain to trade at breakeven.

Undervalued ASX sector getting a Labor boost

Canaccord said:

The election result over the weekend should be positive for childcare demand, in our view, with childcare being one of the key policies put forward by the Labor party.

The policy is aimed at making childcare more affordable by increasing the percentage of fees covered by the government.

The new federal government plans to increase the maximum childcare subsidy to 90%. It will also increase the subsidy rate for one child in every family and households with incomes up to $530,000.

Additionally, Labor will ask the competition watchdog to design a price regulation mechanism and ask the Productivity Commission to look at ways of moving to a 90% flat subsidy for everyone.

Demand outpacing supply

Albanese is promising that around 96% of families will be better off under its plan and no family will be worse off.

It's worth noting that demand for childcare was already growing strongly before any policy changes were announced.

Canaccord added:

We believe these [policy] changes will have a meaningful impact on demand in MarQ'22 and beyond.

Meanwhile, new supply has come on but not at the rates we have seen previously. Moreover, there has been an increase in closures.

Which ASX childcare shares to buy

But not all shares in this undervalued ASX sector are a buy, according to Canaccord.

The broker is recommending investors buy G8 shares and Mayfield Childcare shares. These shares are trading on attractive valuations and Canaccord is expecting them to post solid earnings growth in 2022.

Its 12-month price target on G8 is $1.42 a share and on Mayfield Childcare is $1.76 a share.

Canaccord is more cautious about the Evolve Education share price. While it looks cheap on a long-term basis, the broker is concerned about the performance of its New Zealand operations.

The broker rates Evolve Education as a hold with a price target of NZ$0.90 a share.

The post Broker reveals undervalued ASX sector with post-election tailwinds appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price has continued its slide and is down a further 3% to $4.62. Investors have been selling the embattled infant formula company's shares in recent sessions after it copped two broker downgrades. Analysts are concerned over lockdowns in China and weakening reseller prices on Chinese ecommerce platforms. The A2 Milk share price hit a multi-year low at one stage today.

G8 Education Ltd (ASX: GEM)

The G8 Education share price is down 2% to $1.06. This morning the childcare centre operator provided a trading update. It advised that the high volume of omicron cases in all markets materially impacted revenue, occupancy performance, and employment costs in January and February and continued to flow into the early weeks of March.

Nearmap Ltd (ASX: NEA)

The Nearmap share price is down 3.5% to $1.34. This appears to have been driven by weakness in the tech sector and a broker note out of Macquarie. In respect to the latter, its analysts have downgraded the aerial imagery technology company's shares to a neutral rating with a $1.40 price target. The broker believes Nearmap may be too late to the party to win the North American claims insurance market.

Zip Co Ltd (ASX: Z1P)

The Zip share price has continued to slide and is down almost 6% to a new two-year low of $1.32. This follows weakness in the tech sector and the release of Afterpay's financials prior to its acquisition. The latter revealed that the Afterpay business recorded a loss of $345.5 million for the six months ended 31 December.

The post Why A2 Milk, G8 Education, Nearmap, and Zip shares are dropping appeared first on The Motley Fool Australia.

So here are 5 such ASX dividend shares that are scheduled to trade ex-dividend tomorrow.

5 ASX dividend shares going ex-dividend tomorrow

South32 Ltd (ASX: S32)

Mining company South32 is about to cut off access to its upcoming interim dividend. The diversified miner will be paying out a fully franked dividend worth 8.7 US cents (AUD value to be determined) on 7 April.

Rio Tinto Limited (ASX: RIO)

Rio is another mining giant that is set to trade ex-div tomorrow. In this iron ore giant's case, we know that investors will receive $6.6284 in fully franked dividends per share on 21 April. That's the largest interim dividend Rio has ever paid.

G8 Education Ltd (ASX: GEM)

A company in a slightly different sector, G8 Education shares will also be going ex-dividend tomorrow. Investors can look forward to a fully franked payment of 3 cents per share on 1 April (no April Fool's here). But get in quick if that takes your fancy.

Michael Hill International Ltd (ASX: MHJ)

Jewellery company Michael hill is next up. Michael Hill shares are also fast closing the window to receive this company's upcoming dividend. The jeweller will be forking out 3.5 cents per share, this one unfranked, later this month on 25 March.

Regis Healthcare Ltd (ASX: REG)

Regis is last on our list, but not necessarily least. Investors who own the shares before tomorrow can expect to receive a partially franked at 50% dividend of 3.52 cents per share on 8 April next month.

The post Want the dividends from these 5 ASX shares? You'd better be quick! appeared first on The Motley Fool Australia.

As we wave goodbye to summer and cap off another earnings season, we asked our Foolish contributors to compile a list of some of the ASX shares experts are saying to buy in March. Here is what the team came up with.

Tristan Harrison: Adore Beauty Group Ltd (ASX: ABY)

The Adore Beauty share price has fallen by around 47% since the start of 2022.

However, the company continues to grow. Its FY22 half-year result showed record revenue, with growth of 18% to $113.1 million. Active customers also rose 13% to 876,000. Meanwhile, annual revenue per active customer leapt 5% to $224. Returning customers also grew by 56%.

Adore Beauty's profit margin increased by 0.6 percentage points to 33.1%, showing increased profitability. And, the online retailer is investing for growth. Its 'owned marketing channels' are also helping with marketing costs.

UBS rates Adore Beauty as a buy and expects double-digit revenue growth over the medium term. The broker has a price target of $4.70 on Adore shares, more than 120% above yesterday's share price of $2.12 at the market close.

Motley Fool contributor Tristan Harrison does not own shares of Adore Beauty Group Ltd.

Sebastian Bowen: Wesfarmers Ltd (ASX: WES)

Wesfarmers is one of the oldest ASX 200 blue-chip shares on the market. It is the company behind iconic retailers Bunnings, OfficeWorks, and Kmart. It also owns and has investments in a slew of other diversified businesses.

Historically, Wesfarmers is an ASX share that doesn't seem to go through price corrections too often. Yet that is what we've seen in recent months. Since August last year, this conglomerate has lost close to 30% of its value.

This, in turn, has pushed the company's fully franked dividend yield to more than 3.5% on recent pricing. As such, Wesfarmers shares might well be worth a look at in March.

Motley Fool contributor Sebastian Bowen does not own shares of Wesfarmers Ltd.

Mitchell Lawler: Steadfast Group Ltd (ASX: SDF)

Steadfast is Australia's largest general insurance broker and underwriting agency network. In simple terms, that means it acts as the broker – not the insurer — selling insurance onto predominantly small-to-medium-sized enterprises.

This $4.59 billion company has had a slow start to the year, with Steadfast shares losing around 12%. However, the company provided solid numbers for the first half of FY22. These included underlying revenue increasing by 19% and net profit after tax (NPAT) surging by around 43% to $104.9 million.

In further positive news, Steadfast's full-year guidance was bumped up to between $163 million and $170 million.

Motley Fool contributor Mitchell Lawler does not own shares of Steadfast Group Ltd.

Bernd Struben: Baby Bunting Group Ltd (ASX: BBN)

Baby Bunting is an iconic nursery retailer with 64 stores across Australia. The company plans to open more outlets over the coming months, forecasting it will eventually have more than 100 in Australia.

The company's expansion into New Zealand has been delayed by the pandemic, with the first Kiwi store now expected to open in 2023.

Atop the potential from its ongoing store rollout, Baby Bunting's diverse product offerings arguably present a decent-sized moat for would-be competitors. The company recently reported strong half-year results, with revenues and profits both up.

Baby Bunting also pays a 2.9% dividend yield, fully franked.

Motley Fool contributor Bernd Struben does not own shares of Baby Bunting Group Ltd.

Aaron Teboneras: Bubs Australia Ltd (ASX: BUB)

According to Citi, the Bubs share price represents a significant buying opportunity at its current level.

The infant formula company released its 2022 financial year half-year results last Wednesday. Investors were clearly impressed, sending the Bubs share price almost 5% higher on the day.

In the release, Bubs management noted it continues to be the fastest-growing infant formula manufacturer across key retail chains. These include Chemist Warehouse, Coles Group Ltd (ASX: COL), and Woolworths Group Ltd (ASX: WOW).

Following the record financial performance, Citi analysts raised their 12-month price target for Bubs shares by 7.4% to 73 cents.

Based on the Bubs share price of 42.5 cents at Monday's close, this represents a potential upside of almost 70%.

Motley Fool contributor Aaron Teboneras does not own shares of Bubs Australia Ltd.

Zach Bristow: G8 Education Ltd (ASX: GEM)

The ASX has copped a hammering in 2022 – not G8 Education shares though.

Shares in G8 have thrust from a low of $1.04 in late January to close on Monday at $1.29 apiece, a gain of 24%. This also puts the G8 Education share price up by 14% for the year so far.

The company owns and operates childcare centres in Australia and Singapore. For the first half of FY22, operating revenue was up by 11% to $866 million, and net profit after tax (NPAT) was $46 million – up from a loss of $189 million last year.

EverBlu Capital is bullish on G8 Education shares and reckons valuations are attractive right now. The broker values G8 at $2.33 per share, suggesting a potential upside of around 80% at the time of writing.

Motley Fool contributor Zach Bristow does not own shares of G8 Education Ltd.

Brendon Lau: APM Human Services International Ltd (ASX: APM)

There appears to be significant upside to the APM share price following the company's strong first-half result and upgraded profit guidance, according to Goldman Sachs. Investors appeared to agree, sending the company's shares 11% higher when its results were released last Friday.

APM's guidance upgrade was driven by the company's recent acquisitions but Goldman believes the upgrade might be too conservative. The broker is recommending APM shares as a buy with a 12-month price target of $4 per share. Based on the APM share price of $2.90 at Monday's close, this represents a possible upside of almost 38%.

Motley Fool contributor Brendon Lau does not own shares in APM Human Services International Ltd.

James Mickleboro: Lovisa Holdings Ltd (ASX: LOV)

The Lovisa share price was a very strong performer in February, climbing by almost 15%. But it may not be too late to invest in this fashion jewellery retailer in March.

That's the view of the team at Morgans, which has put an add rating and $24.00 price target on the company's shares. Based on the Lovisa share price of $19.94 at Monday's close, this represents further potential upside of almost 20%.

Morgans was very impressed with Lovisa's performance during the first half and is confident this positive form will continue in the future. In fact, under the leadership of Lovisa's new CEO, Victor Herrero, the broker sees scope for Lovisa to become "a global force" and "one of the biggest success stories in Australian retail."

Motley Fool contributor James Mickleboro does not own shares of Lovisa Holdings Ltd.

The post Top ASX shares to buy in March 2022 appeared first on The Motley Fool Australia.

Taken as a whole, All Ordinaries shares have been struggling in recent months.

One major headwind for ASX shares has been inflation concerns. This is seeing analysts ramp up their expectations for the size and pace of interest rate hikes ahead, putting particular pressure on growth shares.

More recently, Russia's military deployment around Ukraine had raised the spectre of a hot war in Europe.

All up we've seen the All Ordinaries slide 6% since the opening bell on 4 January. This has taken the 52-week gains for the index down to 4.9%.

But not all ASX shares are created equal.

3 ASX All Ordinaries shares hitting 52-week highs

Checking our screens today we note that not 1 but 3 All Ordinaries shares are notching up fresh 1-year highs.

First up we have G8 Education Ltd (ASX: GEM). G8 Education is Australia's largest provider of early childhood education and care, operating more than 470 centres across Australia.

The G8 Education share price struggled for much of the past year before lifting strongly in 2022. Shares got another lift earlier this week on the back of strong full year results. Significantly the company reported a statutory net profit after tax (NPAT) of $45.7 million after seeing a Net Loss After Tax of $189 million the previous year.

Currently trading at $1.32 per share, the G8 Education share price is up 21.1% in 52 weeks.

The next All Ordinaries share hitting 52-week highs today is Worley Ltd (ASX: WOR). The global engineering company provides services to the resources, energy, and industrial sectors and counts as Australia's largest oil and gas engineering group.

Worley shares had a difficult second half of 2021 before a sharp recovery this year. As with G8 Education, the Worley share price received another leg up this week after reporting its half year financial results. Along the strong results was a 259% increase in the company's NPAT, which reached $79 million.

The Worley share price, currently at $12.57, has gained 15.4% in 12 months.

Leading the pack

The third All Ordinaries share hitting 52-week highs today is Mincor Resources NL (ASX: MCR). The ASX resource company is primarily focused on gold and nickel.

The Mincor share price began tracking higher in mid-July and really took off in early December.

Driven by surging commodity prices, the Mincor share price is up a very impressive 72% over the past 52 weeks.

There you have it.

Three not so ordinary All Ordinaries shares at 12 months highs trouncing the returns posted by the index.

The post 3 ASX All Ordinaries shares hitting 52-week highs today appeared first on The Motley Fool Australia.

Shares in G8 Education Ltd (ASX: GEM) moved higher today after the company released its financial results for the full-year ended 31 December 2021.

At the close on Tuesday, the G8 Education share price finished 5% in the green at $1.27 apiece after releasing its earnings.

G8 share price tanks amid earnings growth

Key takeouts from the company's earnings results today include:

• Occupancy of 70.9% vs 67.8% in CY20 and 73% in CY19, reflecting strong H1 occupancy performance
• H2 being heavily impacted by COVID-19 movement restrictions and isolation requirements
• Operating revenue of $866.3 million compared to $777.1 million in CY20 and $918.9 million in CY19
• Operating earnings before interest and tax (EBIT) of $80.1 million (after lease interest)
• Statutory net profit after tax (NPAT) of $45.7 million, up from Net Loss After Tax of $189 million in CY20
• Net debt of $25.9 million at 31 December 2021
• CY21 fully franked dividend of 3 cents per share declared, to be paid in April 2022.

What else happened in the last year for G8 Education?

The company says its strong occupancy performance in H1 last year, that was underlined by "the impact of the strategic change programs and re-establishment of the seasonal uplift trend", was disrupted in the second half as a result of COVID-19 lockdowns.

The effect of COVID-19 lockdowns was abundantly clear because those states "not materially impacted by COVID-19, namely Western Australia, South Australia and Queensland" saw occupancy growth, G8 notes.

Operating revenue came in strong at $866 million, around $90 million ahead of FY20 which benefitted from a seasonal uplift trend but again this was levelled off by COVID-19 lockdowns in the back end of 2021.

G8 also had net debt of $25.9 million at 31 December 2021, following a successful refinancing in February 2021. The beefed up balance sheet meant the Group was able to remain resilient and flexible through changing conditions, the release notes.

As a result of this momentum, G8 grew its bottom line from a post-tax loss of $189 million in CY20 to record NPAT of $45.7 million for the year.

Consequently, the board declared a final fully franked dividend of 3 cents per share, to be paid in April 2022.

The company notes this represents a 56% payout of CY21 NPAT and thus fits in line with the Group's dividend policy of 50-70% of NPAT.

In addition to the dividend update, G8 also advised investors of its intention to conduct an on-market buyback of up to 10% of issued capital, determined by a number of balancing factors.

Management commentary

Speaking on the results today, G8 Chief Executive Officer and Managing Director, Gary Carroll said:

Given the challenges presented by COVID-19 throughout the year, I am pleased with the result we have been able to achieve. Occupancy has been impacted right across the sector, and this was particularly felt in the second half as a result of an escalating COVID-19 environment. It has been encouraging to see our enquiry pipeline is strong, and great momentum in the lead indicators for occupancy – quality, family and team engagement – positioning G8 well in the COVID-19 recovery period. The strength of our balance sheet provided us with resilience during this period.

What's next for G8 Education?

G8 notes there are near-term COVID-19 headwinds across the sector, which include unprecedented increase in closures during January 2022 without corresponding Business Continuity Payment support, isolation requirements causing lower attendances or centre closures, delayed enrolments and team member shortages.

However, its enquiry pipeline is strong and is in line with numbers seen back in January 2021. It also feels it is well-positioned to deliver upside in 2022.

"Strong underlying momentum in the portfolio, particularly in occupancy lead indicators, despite the challenging environment, positions the Group well for a COVID-19 normal environment" it said.

G8 Education share price snapshot

In the last 12 months, the G8 education share price jumped 9% and has spiked another 15% since trading recommenced on January 4. In the past month alone, it is up 18%.

The post G8 Education (ASX:GEM) share price spikes 6% as profits snap back in 2021 appeared first on The Motley Fool Australia.

It's a bad day for most ASX shares today, with the broader market sliding lower this afternoon.

Though, there are some mid-cap shares going against the crowd to hit their highest point in 12 months.

The share price of both G8 Education Ltd (ASX: GEM) and Capricorn Metals Ltd (ASX: CMM) have hit new 52-week highs on Tuesday after gaining 6.6% and 5% respectively.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently down 1.6% while the All Ordinaries Index (ASX: XAO) has slipped 1.7%.

Let's take a closer look at what's boosting the ASX mid-cap shares to new 12-month records today.

What's driving these ASX mid-cap shares to 52-week highs?

Owners of G8 Education or Capricorn Metals shares, pat yourself on the back. The two companies' stock has roared to new 52-week highs today.

The G8 Education share price's new 52-week high is $1.29. At the time of writing, the company's share price has retreated to $1.27, which is still 5.37% higher than its previous close.

It comes after the early education and care provider released its earnings for 2021 this morning.

Its operating revenue increased to $866.3 million in 2021 – up from $777.1 million in 2020.

It has also recovered from 2020's $189 million after tax loss to post a net profit after tax (NPAT) of $45.7 million last year. Though, that's still lower than its 2019 post-tax profit of $52 million.

The company's occupancy also rebounded to just 2.1% less than that of 2019.

There's no such clear reason as to why the Capricorn Metals share price surged to its new 52-week high today.

However, the gold producer's stock has been on the up-and-up lately. It has gained 18% since the end of January despite the company's silence.

Though, the price of the golden metal might be helping to boost the ASX mid-cap's share price.

As The Motley Fool Australia reported earlier today, concerns of rising tensions between Russia and Ukraine saw the price of gold increasing overnight. According to data from CNBC, gold futures are currently 0.6% higher at US$1,9112.20 an ounce.

Right now, the Capricorn Metals share price is $3.74 – 3.03% higher than its previous close.

The post 2 ASX mid-cap shares hitting new 52-week highs today appeared first on The Motley Fool Australia.

Listed below are two more ASX shares that have reported insider buying this month. Here's what you need to know about these transactions:

Collins Foods Ltd (ASX: CKF)

A change of director's interest notice reveals that this KFC-focused quick service restaurant operator's new board member has been quick to buy shares. According to the notice, less than a week after joining the company on 23 December, independent non-executive director Mark Hawthorne picked up 3,000 shares through an on-market trade. He paid a total consideration of $39,899.44, which equates to an average of $13.30 per share.

Mr Hawthorne joined the company last week and brings more than 25 years of retail and franchising experience with him. He was most recently the CEO and Executive Director of Guzman y Gomez and has previously led McDonalds in a number of markets including the United Kingdom, New Zealand, and the Middle East and Africa.

G8 Education Ltd (ASX: GEM)

A number of directors have taken advantage of the underperformance in the G8 Education share price this year to add to their holdings. A total of three change of director's interest notices have been filed this month since the release of the company's trading update.

This includes the childcare operator's managing director and CEO, David Foster. He picked up 13,866 shares for a total consideration of $14,831.07 on Christmas Eve. This increased the CEO's holding to a total of 78,763 shares.

Also buying shares were independent non-executive directors Debra Singh and Toni Thornton. Singh bought 50,000 shares through an on-market trade the same day for $52,993.75, whereas Thornton picked up 23,150 shares for $25,002 on 29 December.

Judging by the purchases, these directors appear confident the company is heading in the right direction once again.

The post Insiders have been buying these ASX shares appeared first on The Motley Fool Australia.

The G8 Education Ltd (ASX: GEM) share price closed in the green today following the company release of a financial update.

After surging to an intraday high of $1.135 in early trade, shares dropped to $1.09 before bouncing back to $1.10 at the close of trade. This was a 0.46% gain on Friday's closing price.

G8 Education is an early childhood education provider that has experienced 119 temporary centre closures since the start of the COVID-19 pandemic.

What was in today's update?

G8 Education reported earnings before interest and tax of $76 million and a net profit after tax of $43 million in the calendar year to date.

This result was above the consensus estimates on company earnings for the 2021 year.

The childcare provider also reported an increase in its occupancy rate of 76.5%. This was an improvement of 1.7% on the calendar year 2020 but 2.1% below the 2019 result.

Net debt for the company was $17 million after the provider forked out $38 million in wage remediation payments.

G8 Education informed investors its revenue was impacted by parent gap fee waivers when children cannot attend due to COVID-19 restrictions.

However, the government was able to offset this loss with fee waivers.

The company said it lost $3,300 per day on average as a result of COVID-19 closures.

What else is new?

Allan Gray portfolio manager Dr Suhas Nayak has tipped G8 Education as one of 4 ASX shares tipped for buybacks in 2022.

Nayak told Motley Fool Australia today that the company's best course of action may well be to return cash to shareholders via a buy-back, while also improving underlying operations of existing centres.

He noted earnings that while not yet fully recovered, the company was now in a net cash position and the share price was below its peers.

G8 education share price snapshot

The G8 Education share price has slipped 6.78% in the year to date and is down 8.33% in the past 12 months.

The company has a market capitalisation of about $932 million, based on the current share price.

The post Why did the G8 Education (ASX:GEM) share price lift today? appeared first on The Motley Fool Australia.

An ASX company sometimes buys back its own shares, as a way to return capital to investors.

Such actions are not necessarily received well, according to Allan Gray portfolio manager Dr Suhas Nayak.

"Some argue that it shows a lack of growth options," he posted on Livewire. 

"Others say that it is financial engineering, especially if those companies are borrowing a lot to enable the buyback."

However, executed well, buybacks can provide tremendous benefits to shareholders.

Nayak said that Australian tax rules rightly favoured franked dividends, but businesses like Metcash Limited (ASX: MTS) and Sims Ltd (ASX: SGM) have returned capital effectively to investors this year.

With this in mind, Nayak named 4 ASX shares that could see buybacks in 2022.

But why wouldn't these companies put that money into a "hot investment" such as green energy, lithium or cloud software?

"It is inevitable that 'hot' investments are overpriced and companies will pay up for that privilege, or that returns will disappoint," said Nayak. 

"It would be far better to see companies exercise good judgement and patience by slowly chipping away at their own shares, especially as the market is giving them an opportunity to buy those shares so cheaply."

G8 has nothing else to do with its money

Childcare provider G8 Education Ltd (ASX: GEM) raised much capital from markets in 2020 while the whole industry was struck badly by COVID-19 restrictions.

According to Nayak, earnings have not yet fully recovered but the business is now in a net cash position and the share price is below its peers.

"With limited value-accretive investment opportunities, the company's best course of action may well be to return cash to shareholders via a buy-back, while also improving underlying operations of their existing centres," he said.

"That is certainly something we would like to see."

G8 shares are down more than 6% for the year so far and closed Friday at $1.105.

Demand for Monash IVF is far better than expected

Fertility services provider Monash IVF Group Ltd (ASX: MVF) also raised significant funds last year.

But its business has "dramatically increased" during the pandemic, according to Nayak, meaning it's seeing more activity now than in the pre-COVID era.

"With the benefit of hindsight, the capital raising was not required and it is unlikely that inorganic opportunities are priced anywhere near as [attractive] as its own share price."

Nayak said that for Monash IVF, it's "time to reward shareholders". 

"Money raised has now clearly been shown to be far in excess of requirements and could be put to good use through a share buyback."

The Monash IVF share price is up 17% in 2021, closing Friday at 92.5 cents.

An 'intentionally capital-light' growth plan

Only a couple of years ago, Incitec Pivot Ltd (ASX: IPL) was struggling due to the drought in Australia.

But it's now thriving with much higher prices for its products, such as fertilisers and explosives chemicals.

The Melbourne company paid down its debts after a 2020 capital raising.

Incitec now has "a growth plan that is intentionally capital-light", according to Nayak.

"With a low franking credit balance, a strong balance sheet, healthy cash flows and an adjusted share price that is still well below pre-COVID levels, we believe the company should institute a buyback program."

Incitec shares closed Friday at $3.08, which is up more than 35% for the year.

Buyback could cash in on a pile of franking credits

Rising oil prices haven't really helped Woodside Petroleum Limited (ASX: WPL) investors, with its shares down 3% this year to close Friday at $22.

According to Nayak, higher commodity prices will result in "strong cash flows" inside the business.

"This, together with the sell-down of Pluto T2 (the new LNG train Woodside is building to process the Scarborough resource), the enlarged earnings base that will come with the BHP Group Ltd (ASX: BHP) petroleum merger, and only one large growth project (Scarborough) getting off the ground means the company will soon find itself under-geared."

But the biggest reason why Nayak thinks a buyback could be coming is Woodside has a financial ace up its sleeve.

"What really pushes us over the line on a share buyback is the potential to unlock an asset currently valued at zero by most: a US$1.8 billion-and-growing pile of franking credits."

An off-market equal-access buyback would allow the company to purchase the shares at up to a 14% discount for the good of all shareholders, said Nayak.

The post 4 ASX shares tipped for buybacks in 2022: expert appeared first on The Motley Fool Australia.

Thankfully not all shares fell with the market. In fact, some even managed to record strong gains. Here's why these were the best performers on the ASX 200 last week:

Altium Limited (ASX: ALU)

The Altium share price was the best performer on the ASX 200 last week with a 14.4% gain. This was despite there being no news out of the electronic design software company. However, this appears to have been driven by the company's shares playing catch up after underperforming year to date. For example, even after this strong gain the Altium share price is only up 5% in 2021.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price was the next best performer with a gain of 11.7% over the five days. Investors were buying the lithium miner's shares after it released the results of its second lithium spodumene concentrate digital auction. According to the update, Pilbara Minerals received a bid of US$2,240/dmt for 8,000 dmt of its spodumene concentrate. This was almost double what it received at its inaugural auction last month. This is being seen as a sign that demand is strong and the positive price momentum in the lithium market will continue.

G8 Education Ltd (ASX: GEM)

The G8 Education share price wasn't far behind with a 10% gain last week. This was despite the childcare centre operator's shares being kicked out of the ASX 200 a week earlier. Some of this gain could have been driven by buying from alternative asset investment company, Tanarra Capital. At the end of the week, a notice revealed that Tanarra Capital has become a substantial holder. The asset manager has been building its position since the end of July and has now amassed a 6.2% stake.

Woodside Petroleum Limited (ASX: WPL)

The Woodside Petroleum share price was on form and recorded a 9.6% gain over the five days. Investors were buying the energy company's shares after oil prices pushed higher. Both Brent and WTI crude oil prices rose after US energy producers took longer to restart following Hurricane Ida. This was boosted further by a greater than expected drawdown of US stockpiles.

The post These were the best performing ASX 200 (ASX:XJO) shares last week appeared first on The Motley Fool Australia.

These will be effective prior to the open of trading on 20 September, as a result of the September quarterly review.

ASX 50 index

Sleep treatment company ResMed Inc (ASX: RMD) and gaming company Tabcorp Holdings Limited (ASX: TAH) shares will be added to the ASX 50 index later this month. They will be replacing struggling infant formula company A2 Milk Company Ltd (ASX: A2M), energy company AGL Energy Limited (ASX: AGL) and fuel retailer Ampol Ltd (ASX: ALD).

There is an additional removal from the ASX 50 index due to the recent Woolworths Group Limited (ASX: WOW) demerger of Endeavour Group Limited (ASX: EDV).

ASX 100 index

UK bank Virgin Money UK (ASX: VUK) will be joining the ASX 100 index. This will be at the expense of building products company Boral Limited (ASX: BLD) and energy producer Beach Energy Ltd (ASX: BPT).

Once again, there is an additional removal to reflect the addition of Endeavour to the index following its demerger from Woolworths during the last quarter.

ASX 200 index

There will be four new additions to the benchmark ASX 200 index on 20 September. Joining the index are Lifestyle Communities Limited (ASX: LIC), Pinnacle Investment Management Group Ltd (ASX: PNI), Sealink Travel Group Ltd (ASX: SLK), and Tyro Payments Ltd (ASX: TYR).

Being dumped from the index later this month are G8 Education Ltd (ASX: GEM), NRW Holdings Limited (ASX: NWH), Nuix Ltd (ASX: NXL), and Westgold Resources Ltd (ASX: WGX).

What now?

The shares being added to indices could be given a boost between now and 20 September. This is due to index funds that track certain indices being required to purchase those shares.

In addition, some fund managers have strict mandates allowing them to only buy shares from certain indices. This could allow them to buy some of these shares at last.

Conversely, the shares being removed from indices could come under pressure today for the opposite reasons.

The post ASX quarterly rebalance: A2 Milk dumped from ASX 50, Nuix kicked out of ASX 200 appeared first on The Motley Fool Australia.

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

ASX 200 expected to fall

The Australian share market looks set to fall on Monday. According to the latest SPI futures, the ASX 200 is expected to open the day 23 points or 0.3% lower this morning. This follows a largely disappointing end to the week on Wall Street, which saw the Dow Jones fall 0.2%, the S&P 500 edge lower, and the Nasdaq push 0.2% higher. Weak economic data in the US put pressure on stocks.

Oil prices fall

Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a tough start to the week after oil prices dropped on Friday night. According to Bloomberg, the WTI crude oil price is down 1% to US$69.29 a barrel and the Brent crude oil price has fallen 0.6% to US$72.61 a barrel.

Fortescue shares go ex-dividend

The Fortescue Metals Group Limited (ASX: FMG) share price is likely to fall deep into the red on Monday when it trades ex-dividend. The iron ore giant is paying shareholders a fully franked $2.11 per share on dividend 30 September. This is the equivalent of a 10% dividend yield, so expect a double digit decline for Fortescue's shares this morning.

Gold price storms higher

Australian gold miners such as Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a strong start to the week after the gold price stormed higher on Friday night. According to CNBC, the spot gold price rose 1.2% to US$1,833.7 an ounce. Weak US economic data eased tapering fears and boosted the gold price.

Quarterly rebalance

After the market close on Friday, S&P Dow Jones Indices announced changes to the ASX 200 at the next rebalance. According to the release, G8 Education Ltd (ASX: GEM) and Nuix Ltd (ASX: NXL) are two of four shares being dumped out of the ASX 200 on 20 September. Lifestyle Communities Limited (ASX: LIC) and Tyro Payments Ltd (ASX: TYR) are among the four shares replacing them in the illustrious index.

The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia.

The G8 Education Ltd (ASX: GEM) share price has fallen in early trade. The soft start to the week comes despite the childhood education group reporting a surge in profits after a COVID-affected 2020.

At the time of writing, the G8 Education share price is down 2.86% trading at $1.02.

G8 Education share price slumps despite profit surge

Shares in the Aussie early childhood education provider are sliding after the company's half-year results release. Some of the key takeaways from 1H 2021 include:

• Revenue up 36.8% on the prior corresponding period (pcp) to $421.5 million
• Statutory net profit after tax (NPAT) of $25.1 million compared to a $244.1 million net loss in 1H 2020
• Operating earnings before interest, tax, depreciation and amortisation (EBITDA) up 15.2% to $102.4 million
• Basic earnings per share of 6.5 cents, compared to a 62.5 cents per share loss in 1H 2020
• No interim dividend

Investors are likely to keep an eye on the G8 Education share price today after the company announced intentions to pay a full-year dividend at year-end.

What happened in first-half FY21 for G8 Education?

COVID-19 restrictions were disruptive to operations throughout the half. Core occupancy levels recovered from 65.1% in 1H 2020 (on a restated basis) to 68.0% in the most recent half-year period.

The group's 191 regional centres performed strongly with occupancy levels up 4.4% than the COVID-19 impacted 1H 2020 result.

G8 reported a strong balance sheet (with a net cash position) to help ride out the COVID-19 storm. Management has also signalled its intention to pay a full-year dividend for the period ended 31 December 2021.

The G8 Education share price fell 16.7% from the start of the year through to 30 June.

What did management say?

G8 CEO and managing director Gary Caroll had this to say about the result:

During the half, our operating performance continued to recover, with occupancy in the first half narrowing the gap on CY19, driven by our strategic change programs and a particularly strong performance from our regional centres.

Costs were well-managed, and we remain concentrated on maintaining our balance sheet strength and flexibility.

After an encouraging first half, since June, we have started to see some impact of COVID-19 lockdowns on occupancy in the eastern states.

We have the right settings and systems in place, and are well-capitalised to weather this period and emerge in a strong position.

What's next for G8 Education and its share price?

COVID-19 restrictions across the country continue to impact G8's operations in FY22.

The G8 Education share price is slipping today as management sets its sights on an end-of-year dividend.

Shares in the Aussie early childhood education provider are down 14% this year and underperforming the S&P/ASX 200 Index (ASX: XJO).

The post G8 Education (ASX:GEM) share price slips despite half-year profit surge appeared first on The Motley Fool Australia.

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

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

Australian Pharmaceutical Industries Ltd (ASX: API)

According to a note out of Macquarie, its analysts have retained their outperform rating and $1.45 price target on this pharmacy chain operator and distributor's shares. This follows news that Pfizer Australia will start to distribute medicines through Australian Pharmaceutical Industries from September. This is expected to boost its earnings before interest and tax by $4 million per annum. Overall, the broker believes the company is well-placed for growth and is forecasting dividends per share of 5.2 cents in FY 2021 and 7.3 cents in FY 2022. Based on the current Australian Pharmaceutical Industries share price of $1.17, this will mean fully franked yields of 4.5% and 6.2%, respectively.

Fortescue Metals Group Limited (ASX: FMG)

Analysts at Ord Minnett have retained their buy rating and $28.00 price target on this iron ore producer's shares. According to the note, the broker has been looking at the first development project being planned by the company's Fortescue Future Industries business. It appears to support the development, suggesting that green ammonia demand could be significant in the future. Outside this, the broker continues to expect Fortescue to deliver bumper free cash flows in the near term thanks to the sky high iron ore price. Ord Minnett believes this will lead to fully franked dividends of $3.29 per share in FY 2021 and $2.86 per share in FY 2022. With the Fortescue share price currently fetching $22.42, this will mean massive dividend yields of 14.7% and 12.7%.

G8 Education Ltd (ASX: GEM)

A note out of UBS reveals that its analysts have retained their buy rating and $1.30 price target on this childcare centre operator's shares. This follows the release of its annual general meeting update earlier this week. The broker is pleased with the way the company's occupancy rates are improving and expects the Federal Budget to support further improvements. Overall, it believes the company will be well-positioned for growth from FY 2022, which it suspects could support a re-rating of its shares. UBS expects fully franked dividends of 4 cents per share in FY 2021 and 6.1 cents per share in FY 2022. Based on the current G8 Education share price of 97.2 cents, this will mean 4.1% and 6.3% yields for investors.

The post Top brokers name 3 ASX dividend shares to buy today appeared first on The Motley Fool Australia.

The Home Consortium Ltd (ASX: HMC) (HomeCo) share price is edging higher today. At the time of writing, shares in the diversified landlord are swapping hands for $4.65. That's up 2.42%. By comparison, the S&P/ASX 200 Index (ASX: XJO) is 0.28% higher.

HomeCo comes into focus after the company announced $133 million worth of property acquisitions to seed its soon-to-be real estate investment trust (REIT), HealthCo.

Let's take a closer look at today's news and what it means for the HomeCo share price.

What's affecting the HomeCo share price today?

In its statement, HomeCo advised it has purchased 3 properties for HealthCo at a combined value of $133.2 million. The includes $110 million for the purchase of a "health hub" in Morayfield on Queensland's Sunshine Coast. The remaining $23.2 million is for the purchase of two childcare centres, one in Brisbane and one in Sydney.

HealthCo's total portfolio value is currently $480 million with another $300 million worth of properties under due diligence.

Last month, HomeCo said it was doubling the equity raise for the proposed trust to $1 billion. The company expects HealthCo to be established by the first half of FY22.

Judging by the HomeCo share price lift, it appears that investors welcome today's news.

Morayfield Health Hub

HomeCo says the $110 million purchase price for the Morayfield Health Hub represents a capitalisation rate of 5.4%. Services at the property include a GP clinic, pharmacy, radiologist, and allied health services. There are also childcare services at the centre.

The sale will only be approved when the vendor's unitholders vote to approve it.

According to the company, the Sunshine Coast is one of the fastest growing regions in Australia. In 2020, the population of the region grew 1.64%, national growth was only 0.9%.

Childcare centres

HomeCo is also purchasing childcare centres in Brisbane and Sydney for the HealthCo portfolio. The Brisbane centre is located 3km from the CBD in Woolloongabba and was purchased for $13 million. The purchase price reflects a capitalisation rate of 5.5%. Childcare provider Busy Bees is the current tenant at the property.

The other centre is located in Five Dock, a suburb in Sydney's Inner West. The sale should settle at the end of this month for a price of $10.2 million, which reflects a capitalisation rate of 5.5% as well. The current tenet is G8 Education Ltd (ASX: GEM) subsidiary, Greenwood.

Property sales

As well as acquisitions, HomeCo announced a number of property sales. In Morayfield, HomeCo sold a shopping centre for $28.4 million. The company says this figure is 3.5% higher than the property's book value on 31 December 2020. HomeCo previously announced the sale of a shopping centre in Bathurst, NSW for $17 million.

HomeCo's direct ownership of shopping complexes has dropped to $154.6 million. In its statement, the company says it will continue to look at asset recycling opportunities, to "deliver optimum long term security holder returns".

Management commentary

HomeCo managing director and CEO David Di Pilla said:

We remain on track to establish HealthCo later this year and today's update further demonstrates our ability to source high quality assets which are well suited to the model portfolio strategy we announced last month for HealthCo.

Pleasingly, we continue to execute our strategy in a capital efficient manner through active capital recycling. Our balance sheet is well capitalised with minimal debt, providing us with significant capacity to secure additional assets for HealthCo including several which are currently under due diligence.

HomeCo share price snapshot

Over the past 12 months, the HomeCo share price has increased 87.2%. Since hitting its record high of $5.25 at the end of April this year, the value of the company's shares has fallen 12%.

Home Consortium has a market capitalisation of around $1.3 billion.

The post HomeCo (ASX:HMC) share price rises on latest acquisitions appeared first on The Motley Fool Australia.

Childcare ASX shares G8 Education Ltd (ASX: GEM) and Think Childcare Ltd (ASX: TNK) shares fell today after the federal government handed down its budget for the next financial year.

Despite the government committing an extra $1.7 billion to the sector over the next 3 years, investors sold off their ASX childcare shares during today's trading session.

By the market's close, G8 Education shares were selling at 99 cents each (down 1.98%) and the Think Childcare share price slumped 0.32% lower to $3.08.

Let's take a closer look at what the government is planning for the sector.

Childcare funding up

From July 2022, childcare subsidies for Australian parents will be expanded so that those with two or more children in daycare will receive a 95% subsidy. Those with one child in daycare will receive a 65% subsidy. As well, the $10,000 payment cap for high-income families will be abolished, meaning more upper-income families will receive government childcare rebates.

Prime Minister Scott Morrison, however, told this morning's Sunrise program the start date could be moved forward. The PM said the current start date is due to issues involved in setting up a new payment system.

"If that [setting up the new payment systems] can be done sooner…we will certainly move on that," Mr Morrison said.

"This budget is all about securing our economic recovery from the pandemic"

Prime Minister @ScottMorrisonMP joined @Kochie_Online to discuss #Budget2021, respond to criticism and explain how the federal government will pay off the eye-watering mountain of debt. pic.twitter.com/EjonR8RGb5

— Sunrise (@sunriseon7) May 11, 2021

Furthermore, news.com.au today reported Treasurer Josh Frydenberg told reporters during budget lock up the delayed date was due to IT concerns.

"…There are technical issues…with regard to changing IT and computer systems," Mr Frydenberg was quoted as saying.

Certain caveats will still exist for parents wishing to access the scheme. Namely, only children under 5 will be eligible and the 95% rebate will drop for a second child in care once the older one enters primary school. After school programs are also not covered.

In his speech to parliament last night, the Treasurer said the average family would be "$2200 better off" under the new scheme.

Investors in ASX childcare shares, though, appeared unimpressed. This is in contrast to some ASX aged care shares, which surged following last night's Budget.

ASX childcare share price snapshots

Over the past 12 months, the G8 Education share price has increased by around 6% while Think Childcare shares have ballooned by 278%.

The beginnings of the COVID pandemic saw ASX childcare shares collapse as many families pulled their little ones out of the centres. Shares rocketed back when the federal government temporarily made childcare free as one of its many economic responses to the crisis.

G8 Education has a market capitalisation of around $840 million and Think Childcare is valued at approximately $189 million.

The post These ASX childcare shares slumped despite Budget news appeared first on The Motley Fool Australia.

G8 Education Ltd (ASX: GEM) shares are on the slide during the opening minutes of trade after the company released its 2020 full-year results. At the time of writing, the G8 Education share price has slumped 4.27% to $1.12.

In its report, G8 advised it is still managing the effects of coronavirus with regard to occupancy rates at its early learning and childcare centres.

Let's review how this impacted the company's results and what the CEO had to say. 

G8 Education reports annual losses

Investors are driving down the G8 Education share price today after the company reported its annual revenue dropped to $788.1 million for the year ended 31 December 2020. This was down 14.4% from the $920.6 million revenue recorded for the year prior. 

Underlying earnings before interest and taxes (EBIT) fell 11.9% compared to the prior corresponding period (pcp) and totalled $105.2 million.

G8 also reported a net profit after taxes (NPAT) loss of 11.3%. NPAT was $60 million for 2020 compared to $67.7 million in the pcp.

Earnings per share (EPS) took a 38.1% hit, falling from 13 cents for the 2019 period to 8.1 cents at the end of 2020.

The company reported a statutory loss after taxes of $187 million.

CEO comments 

Commenting on the company's annual performance, G8 Education CEO and Managing Director Gary Carroll said: 

This year the Group's absolute priority has been to ensure the health, safety and wellbeing of our team members, children and families as we navigate the ongoing impact of COVID‐19. In addition, we have been firmly focused on safeguarding the business through prudent financial management and cash preservation and by drawing on the Commonwealth Government's welcome support for the sector during the pandemic.

These efforts have been reflected in the Group's 2020 full‐year results, which show a strong recovery in occupancy and attendance in a challenging COVID‐19 related environment. Throughout this period, the Group has not lost sight of its strategic priorities, with the optimisation of its portfolio continuing through the divestment of underperforming centres, the ongoing improvement program and the opening of greenfield sites. Our strong balance sheet, with net cash of $21.8 million, gives us the capacity to continue this momentum and to explore other sensible growth opportunities.

G8 education share price snapshot

Including today's falls, the G8 Education share price has shed nearly 30% of its value over the past year. However, G8 Education shares have gained around 20% over the last six months.

Based on the current share price, G8 Education has a market capitalisation of around $990 million with 847.4 million shares outstanding.

The post G8 Education (ASX:GEM) share price tumbles as revenue dives appeared first on The Motley Fool Australia.