It's been a pretty disappointing start to the trading week for the All Ordinaries Index (ASX: XAO) so far this Monday. At the time of writing, the All Ords has lost 0.14% of its value, putting the index at just over 7,620 points.

But not all All Ords shares are having such a down day today. So let's take a look at three All Ords shares that are making their investors very happy.

3 ASX All Ords shares bucking the market on Monday

Audinate Group Ltd (ASX: AD8)

Audio visual technology share Audinate is our first All Ords stock worth a look today. Audinate shares are tearing it up this Monday. The company is currently enjoying a massive 11.85% rise at present, putting the Audinate share price at $8.02 a share:

This comes after Audinate reported its half-year results for the first half of FY2023 this morning. As we covered this morning, the company reported an impressive 39.3% rise in revenues to US$20.6 million, while gross profits were up 30% to US$14.5 million. Clearly, investors have been delighted by what the company had to say.

HT&E Ltd (ASX: HT1)

Next up, we have All Ords media and advertising share HT&E. Here, There and Everywhere, the company formerly known as APN News and Media, has had no fresh news or earnings out today. But that didn't stop the company's shares from rocketing 10% to $1.32 apiece at one stage this morning. They've now settled 3.75% higher at $1.245 a share:

This could have something to do with speculation that HT&E could be the target of a takeover offer. According to reporting in The Australian, the company's financials have spurred some potential suitors, including some private capital firms, to weigh up their options.

Helios Energy Ltd (ASX: HE8)

Finally today, we have the All Ords oil and gas hopeful Helios Energy. Helios shares are another ASX winner this Monday, with the company up a lucrative 8.59%, to 10.75 cents per share:

Helios hasn't put anything new out today. However, ASX energy shares are collectively surging today, thanks to rising oil prices. As my Fool colleague flagged this morning, WTI crude rose 2.2% last Friday, while Brent crude was up 2.4% to US$86.52 a barrel.

Thanks to these gains in the oil markets, oil shares ranging from All Ordinaries small-cap players like Helios to giants like Woodside Energy Group Ltd (ASX: WDS) are putting on very pleasing performances.

The post 3 ASX All Ordinaries shares going gangbusters on Monday appeared first on The Motley Fool Australia.

If you subscribe to the theory that small-cap ASX shares are due for a massive resurgence in 2023, there's just one question to ask.

Which stocks to buy?

Fortunately, the team at Celeste Funds Management this week explained why they love three of their holdings for the long run, despite mixed recent performance.

'Strong' update belying the share price tumble 

Insurance services provider PSC Insurance Group Ltd (ASX: PSI) saw its share price plunge 5.2% over January.

That puzzled Celeste analysts, who thought a late December operational update was "strong".

"Trading in 1H23 was ahead of budget with underlying EBITDA growth of 18% to 20% on the prior corresponding period," stated Celeste's memo to clients.

"Given strong 1H23 performance, the full year result is expected to come in at the top-end of the guidance range."

Last May, PSC announced that it was entering into a joint venture with AUB Group Ltd (ASX: AUB) for the retail business of UK brand Tysers.

Unfortunately, that still hasn't got off the ground, due to delays with regulatory approvals from British authorities.

That may have had a bearing on PSC's share price, but Celeste analysts insisted "both companies remain committed". 

"On a global macro level, the January reinsurance renewals should underpin further hardening of insurance premiums and provide a solid tailwind for broker earnings growth."

The PSC share price is up 1.94% compared to a year ago, while paying out a 2.5% dividend yield.

Big sale could return capital to investors

The HT&E Ltd (ASX: HT1) stock price went the opposite way last month, rising a spectacular 16.1%.

The Celeste team attributed this to its jettison of a peripheral business.

"Early in the month, the company announced it had signed a binding agreement to sell its 25% interest in CPaaS business Soprano to Potentia Capital for $66.3 million cash," read the memo.

"The sale price implies an 8.8x multiple on FY22 EBITDA and comes after a previous non-binding agreement to sell the stake to Link Mobility Group AS (OSE: LINK) was terminated in September 2021."

The sale means shareholders of the media company could benefit, either directly or indirectly.

"The disposal of the non-core asset likely moves HT&E to a net cash position providing capital flexibility to both continue to invest in the core radio business and potentially return capital to shareholders."

Despite the great start to 2023, HT&E shares have still plunged more than 44% over the past 12 months.

Portfolio grows 10% in six months

Litigation finance provider Omni Bridgeway Ltd (ASX: OBL) enjoyed an 11.6% boost in its stock price in January.

According to Celeste Funds analysts, the company reported a "strong" December quarter that took the total estimated portfolio value up to $29.8 billion.

That's 10% higher than what it was on 30 June.

"There remains $228 million of indicative opportunities in the investment pipeline, which, if converted, would make up an additional 41% of the FY23 commitments goal."

The Celeste team also noted how a particular investment was offloaded during the quarter.

"The secondary market continues to prove useful in accelerating cash returns."

Omni Bridgeway is also growing overseas.

"The business expanded its geographic footprints in Europe and the US, which should further the diversification of the portfolio and maintain OBL's global competitive advantage."

The Omni Bridgeway share price is up almost 9% over the past year.

The post 3 small-cap ASX shares Celeste is riding off into the sunset on appeared first on The Motley Fool Australia.

The new year is off to a disastrous start for the All Ordinaries Index (ASX: XAO) and most of the shares that call it home.

Despite posting a strong start to Tuesday's session ­– it jumped as high as 0.47% in early trade – the benchmark index tumbled to a two-month low this afternoon.

Right now, the All Ordinaries is down 1.62% at 7,104.7 points.

Fortunately, though, not all its constituents are suffering. We've rounded up three that are posting gains of as much as 7%. Let's take a look.

3 All Ordinaries shares posting whopping gains

The first All Ordinaries share defying today's tumble is Airtasker Ltd (ASX: ART). Stock in the online marketplace for services is leaping 2.9% to trade at 35.5 cents right now despite the company's silence.

Sadly, however, today's gain hasn't proven enough to boost the embattled share back into the long-term green. It's fallen 75% since it floated on the ASX in March 2021.

Next up is media and entertainment company HT&E Ltd (ASX: HT1). The All Ordinaries share is roaring 3.63% higher to swap hands for $1 apiece. Its gain comes on news of a major divestment.

The company today revealed it's agreed to sell its 25% stake in Soprano Design to Potentia Capital for around $66.3 million in cash.

If the name Potentia rings any bells, it's likely because it's the private equity firm that recently put in so-far-unsuccessful bids for both Tyro Payments Ltd (ASX: TYR) and Nitro Software Ltd (ASX: NTO).

Finally, the Neuren Pharmaceuticals Ltd (ASX: NEU) share price is rocketing 7.67% right now to trade at $8.56.

That's despite no news having been released by the All Ordinaries biopharmaceutical share.

Today's gain included, the stock is just 2.8% lower than the 15-year high it posted in November.

The post 3 ASX All Ordinaries shares defying today's downturn to rocket higher appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:

HT&E Ltd (ASX: HT1)

The HT&E share price is up over 3% to 99.7 cents. This morning the advertising and media company announced the sale of its ~25% interest in Soprano Design to Potentia Capital for $66.3 million. Management believes the all-cash deal will allow the company to focus on its position as a leading provider of audio services in Australia.

Seven West Media Ltd (ASX: SWM)

The Seven West Media share price is up 2.5% to 40.5 cents. This follows news that the company has signed a new agreement with Cricket Australia. The seven-year deal extends the company's media rights from the 2024-25 season to the 2030-31 season. Seven West Media will be paying $65 million a year, which is a 13% reduction on its previous deal.

Tabcorp Holdings Limited (ASX: TAH)

The Tabcorp share price is up 2% to $1.10. This is despite there being no news out of the gambling company. However, given its relatively defensive earnings, investors may see it as a safe haven during the current market volatility.

Weebit Nano Ltd (ASX: WBT)

The Weebit Nano share price is up 6% to $3.45. This morning, the semiconductor company announced that it has released its first 22-nanometre demonstration chip to manufacturing. Weebit Nano's demo chip aims to provide a low-power, cost-effective embedded non-volatile memory solution able to withstand harsh environments.

The post Why HT&E, Seven West Media, Tabcorp, and Weebit Nano shares are rising appeared first on The Motley Fool Australia.

The S&P/ASX All Ordinaries Index (ASX: XAO) is edging higher this morning amidst a flurry of ASX reporting season activity. 

But while the ASX All Ords index rises, some shares are struggling to keep up.

For some, lacklustre reports are driving this underperformance.

But for others, it's because their shares are turning ex-dividend. This means they're no longer trading with the upcoming dividend payment attached to it.

When a company's shares turn ex-dividend, they typically drop. After all, these dividends are being paid out of the company's cash reserves.

While the extent of the fall is usually in proportion to the size of the dividend, it varies based on market sentiment.

So, here are three ASX All Ords shares trading ex-dividend today. Unsurprisingly, their share prices are in the red.

Codan Limited (ASX: CDA)

This ASX tech share is trading without its final dividend today. At the time of writing, the Codan share price is sliding 4.1% to $6.97.

Last week, Codan declared a fully franked final dividend of 15 cents. 

Investors who held Codan shares when the market closed yesterday should see the payment land in their accounts on 7 September.

Codan's total FY22 dividends come in at 28 cents, up slightly from 27 cents in FY21.

This puts Codan shares on a trailing dividend yield of 4.0%, which amps up to 5.7%, including franking credits.

Baby Bunting Group Ltd (ASX: BBN)

ASX retailer Baby Bunting is another ASX All Ords share going ex-dividend today.

Baby Bunting shares are now trading without the company's fully franked final dividend of 9 cents. 

This is likely contributing to the 3% fall in the Baby Bunting share price at the time of writing.

Investors who were on the company's share register by the time the market closed yesterday should pencil in a payment date of 9 September.

Baby Bunting achieved another year of dividend growth, with total FY22 dividends coming in at 22.3 cents. 

This means Baby Bunting shares are currently flaunting a trailing dividend of 4.9%. Throwing franking credits into the mix bumps up this yield to 7%.

HT&E Ltd (ASX: HT1)

Rounding out this trio of ASX All Ords shares going ex-dividend today is media and entertainment business HT&E.

The company recently announced its first-half FY22 results, declaring a fully franked interim dividend of 5 cents per share. 

This is up 43% compared to HT&E's interim dividend in FY21. 

At the time of writing, the HT&E share price is down 4.58%, trading at $1.355.

If you owned HT&E shares when the market closed on Wednesday, you should be entitled to this dividend. Keep your eyes peeled for the funds to land in your account on 15 September.

HT&E shares are currently trading on a trailing 12-month dividend yield of 6.5%, or 9.3% grossed up.

The post 3 ASX All Ordinaries shares going ex-dividend today appeared first on The Motley Fool Australia.

Key points

• Traditional ASX media shares could be among the winners this reporting season, according to UBS
• The broker identified four tailwinds that could bolster earnings in the sector
• All traditional ASX media shares under UBS' coverage are rated as "buy"

The reporting season is about to kick off and a leading broker reckons that traditional ASX media shares could fare well this month.

This is because the sector is enjoying four tailwinds, according to UBS. These factors could boost their earnings when they hand in their results in a few weeks.

ASX media shares that are rated "buy"

The broker's bullish view is reflected in its "buy" recommendation for all the traditional ASX media shares under its coverage.

These include the HT&E Ltd (ASX: HT1) share price, Nine Entertainment Co Holdings Ltd (ASX: NEC) share price, News Corporation (ASX: NWS) share price, Seven West Media Ltd (ASX: SWM) share price and Southern Cross Media Group Ltd (ASX: SXL) share price.

"In traditional media, our focus will be on the 2H outlook, which may provide evidence on the sustainability of the post-COVID rebound in FTA ad spend," said UBS.

"[Although] in radio we believe any potential trajectory towards pre-COVID levels may continue to be delayed given its advertisers appear to be more impacted by COVID-19 (e.g. local direct advertising, retail)."

Earnings tailwinds

The strength in the combined TV ad market, particularly in the first half, is one of the tailwinds that UBS has identified.

Another is the deal that traditional Australian media companies have struck with Facebook, now Meta Platforms Inc (NASDAQ: FB), as well as Google, which is owned by Alphabet Inc (NASDAQ: GOOGL) (NASDAQ: GOOG).

The deal will see these online giants pay content creators for their news stories. Nine Entertainment stands to get around $30 million to $40 million added to its earnings before interest, tax, depreciation and amortisation (EBITDA).

Other growth drivers for ASX media shares

Revenue growth in the digital assets of these ASX shares is the third driver highlighted by UBS.

The broker also points to the balance sheet repair that was undertaken by the sector through asset sales and capital raises. This will allow the sector to resume paying dividends, undertake capital returns and make acquisitions.

The only negative trend that could weigh on the sector is rising costs due to cyclical factors and the loss of the government's COVID-19 support payments.

The other good news is that rising interest rates and inflation are less likely to negatively impact the group compared to their online peers, such as Carsales.Com Ltd (ASX: CAR) and SEEK Limited (ASX: SEK).

The post 4 reasons to buy these ASX media shares this month: UBS appeared first on The Motley Fool Australia.

ASX shares will be heavily impacted by the direction of interest rates in the coming year, according to IML Investors Mutual.

This means that it's now more important than ever to avoid the speculators and buy up businesses that actually have firm growth prospects.

"We expect central banks to raise interest rates fairly sharply over the next 18 months to more 'normal' levels," read a memo to clients from IML analysts.

"As such, we continue to steer away from the riskier parts of the sharemarket and remain focused on identifying and holding what we assess to be good quality companies, are well managed, which offer sound value, and which can grow their earnings and do well over the next 3 to 5 years."

Here are 2 such examples from IML's Australian Smaller Companies Fund:

The company you've never heard of, but actually have

The name HT&E Ltd (ASX: HT1) — short for Here, There and Everywhere — may not be familiar to many investors.

But they have likely heard the company's product sometime — in their car, on their smart speaker or even while shopping.

The company owns the Australian Radio Network, which runs many popular radio stations like the KIIS network, Chemist Warehouse Remix and the Pure Gold network.

It also runs outdoor advertising, from its roots as APN News & Media.

The IML team loved HT&E's $308 million acquisition of regional radio network Grant Broadcasters late last year.

"This acquisition is an excellent fit for HT1 as it creates a truly national radio network that will give the company added reach and the enhanced ability to fulfil national briefs for agencies and larger advertisers."

The memo also noted that HT&E had resolved its dispute with the Australian Taxation Office for "less than half the amount originally sought". 

"With buoyant ad market conditions expected to continue into 2022, HT&E remains good value on a PE of 12 times FY22 and a yield of over 4%."

HT&E shares are up about 11% over the past year. They closed Wednesday at $1.99.

Agricultural feed is a timeless demand

Ridley Corporation Ltd (ASX: RIC) is another ASX share that may not be immediately recognisable to retail investors.

The company, which produces animal feed and nutrition products, has seen its share price climb 66% over the past 12 months.

The IML team noted Ridley presented positive numbers at the annual general meeting late in the year.

"To November 2021, year to date EBITDA growth in both of Ridley's reporting segments had exceeded the 16% growth seen in the prior corresponding period," the memo read.

"In support of continued earnings growth, AGM commentary also highlighted further progress on delivering various business improvement initiatives, with the associated profit growth still to come."

Despite the negative impact of COVID-19 on some of its customers, Ridley itself has navigated the pandemic ably.

"While the spread of Omicron seems hard to avoid, safety practices and employee buy-in has resulted in little lost time to date," stated IML analysts.

"Despite the robust share price performance over the last 12 months, Ridley continues to look cheap, trading on a one-year forward PE of just 13x with a 3.8% dividend yield."

Ridley shares closed Wednesday at $1.56.

The post 2 cheapie ASX shares looking pretty for 2022 appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are dropping:

BrainChip Holdings Ltd (ASX: BRN)

The BrainChip share price is down 10% to 54.5 cents. Investors have been selling this artificial intelligence technology company's shares after it announced the appointment of its new CEO. According to the release, the company has appointed Sean Hehir as its new CEO, with effect from 29 November 2021. The market may have been hoping for a more experienced CEO or one with a background in artificial intelligence.

HT&E Ltd (ASX: HT1)

The HT&E share price is down 6.5% to $1.79. This follows the release of a trading update at the outdoor advertising and media company's annual general meeting. That update revealed that the company's growth has continued in the second half. However, it appears as though some investors were expecting stronger growth.

Platinum Asset Management Ltd (ASX: PTM)

The Platinum share price is down 2% to $2.91. This could have been driven by a broker note out of UBS last week. That note revealed that UBS has commenced coverage on the fund manager with a sell rating and lowly $2.25 price target.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price is down 1.5% to $2.44. Investors have been selling this coal miner's shares after a climate deal was reached at COP26. That agreement will see the world phase down coal use. Though, one slight positive for Whitehaven is that the wording of the agreement was changed late on from phase "out".

The post Why BrainChip, HT&E, Platinum, and Whitehaven Coal are dropping appeared first on The Motley Fool Australia.

HT&E describes itself as a leading media and entertainment business operating radio, audio and digital businesses in Australia as well as outdoor assets in Hong Kong.

Grant Broadcasters acquisition

HT&E has announced it's going to buy Grant Broadcasters radio and digital operations for $307.5 million on a cash and debt free basis.

Grant Broadcasters was described by HT&E as a family-owned business, which is the leading regional radio broadcaster in Australia. HT&E's Australian Radio Network (ARN) business is the number one metropolitan radio broadcaster in Australia.

The combined businesses will create a national broadcast network of scale made up of 58 radio stations and 46 DAB+ stations across 33 markets resulting in a presence in every state and territory in Australia.

Management believe this acquisition will unlock new growth markets and that it will provide the potential for "significant" digital audio expansion by accelerating the rollout of ARN's established iHeartRadio digital audio platform into regional areas.

Grant Broadcasters had annual pro forma revenue of $100.7 million and generated $35.5 million of pro forma earnings before interest, tax, depreciation and amortisation (EBITDA) in the 12 months to June 2021. The acquisition represents a pro forma EBITDA multiple of 8.7x and a pro forma earnings before interest and tax (EBIT) multiple of 10.3x.

Geelong Broadcasters Pty Limited and certain joint ventures are excluded from the transaction.

Financial impact

HT&E is going to fund this acquisition through its existing cash reserves, financing facilities and the issue of new HT&E shares. Approximately $238 million of this will be funded by cash and debt, while the rest will be funded by new shares issued at a HT&E share price of $1.93 per share.

This acquisition is expected to add 20% or more to earnings per share (EPS) on a pro forma 12-months to June 2021 basis. That's before the synergies and one-off integration costs.

Trading update and outlook

HT&E also gave a trading update as part of the announcement. Updates can have an impact on the HT&E share price.

Radio

ARN revenue for the three months to September 2021 grew 17% on the prior comparative period, with "consistent ratings and a strong commercial offering" driving increased yield on certain key stations. October radio revenue finished up 8.1%, ahead of the broader radio market, up 6.1%.

Management revealed that forward bookings are "pacing well ahead" of the same time last year, and radio revenue is expected to finish up between 5% to 10% for the quarter with a strong comparative period in 2020.

HT&E was pleased to say that digital audio revenue continued to gain "strong" traction and now averages around $1.5 million per month, up from $1 million in the previous quarter.

ARN operating costs are expected to be between $2 million to $3 million above 2019 levels.

Soprano

Soprano, a global communications solution for large enterprise and government that HT&E owns a stake of, maintained its "strong" financial performance for FY21.

Total revenue was up 25% to $93.9 million, gross profit increased 12% to $52.5 million and underlying EBITDA rose 23% to $27.2 million. This result was due to organic growth and the integration of the Silverstreet acquisition. HT&E said Sopranos' performance in the first quarter of FY22 to September 2021 achieved budgeted growth and it's on track to achieve its forecasts for the current quarter.

Cody Outdoor

Cody Out-of-Home has 450 outdoor advertising panels in Jong Kong, the tram shelters on Hong Kong Island, as well as growing taxi body advertising.

Full year revenue is expected to reach HKD 120 million to 125 million – up 40%. It has returned to being cashflow positive on a monthly basis.

HT&E share price snapshot

In the last month alone, HT&E shares have gone up around 40%.

According to the ASX, HT&E now has a market capitalisation of $548 million.

The post The HT&E (ASX:HT1) share price is up 7% on acquisition update appeared first on The Motley Fool Australia.

October was a good month for many ASX media and communication shares, but some performed better than others.

Not to spoil the surprise, but the media stocks that outperformed their peers probably aren't the ones you are expecting…

The 5 top performing ASX media shares of October

A quick note; this list only includes shares with market capitalisations of more than $100 million.

Enero Group Ltd (ASX: EGG)

The Enero share price has outperformed those of all its ASX media and communications-focused peers.

Through the month of October, it gained 30.69% to finish at $3.96.

Last month, Enero announced the September quarter had seen it with 22.6% more revenue and 50% more earnings before interest, tax, depreciation, and amortisation (EBITDA) than the same quarter of financial year 2021.

The company operates a number of brands in the communications and marketing spheres.

HT&E Ltd (ASX: HT1)

Coming in second best is HT&E, also known as Here, There & Everywhere.

The radio, audio, and digital content business saw its share price grow by 17.68% over the course of October to finish the month's final session at $1.93.  

The big news from HT&E last month was the settlement of a longstanding taxation dispute with the Australian Taxation Office.

IVE Group Ltd (ASX: IGL)

The IVE Group share price had a great October on the ASX. It gained 16.23% to end the period at $1.79.

The print and marketing company's stock was boosted by news of 2 acquisitions, both expanding IVE's retail display operations.

Gtn Ltd (ASX: GTN)

The Gtn share price also outperformed many of its peers over October, gaining 14.13% to finish at 52.5 cents.

Gtn – Global Traffic Network – provides traffic reports to radio stations in Australia, the United Kingdom, Canada, and Brazil. As compensation for supplying such reports, Gtn is generally given advertising slots. It then bundles and sells the slots to other parties.

There was no word from the company to explain its stock's surge last month.

NZME Ltd (ASX: NZM)

Finally, the crown for the fifth best performing media share of the month of October goes to NZME – New Zealand Media and Entertainment.

The company operates more than 50 print, radio, and digital media brands.

The NZME share price gained 13.27% over October. It finished the month trading at $1.11.

There were a number of announcements from NZME over October.

First, it updated the market on the impacts it was facing as COVID-19-induced lockdowns continued in New Zealand. The company's advertising revenue was hit by the lockdown. However, it remained 7% higher than during the prior corresponding period. The company also provided EBITDA guidance for the 2021 calendar year.

It later completed the sale of its GrabOne business.

The post These were the 5 best performing ASX media shares in October appeared first on The Motley Fool Australia.

The HT&E Ltd (ASX: HT1) share price finished flat at $1.85 today — the same price as it closed on Monday.

However, it spent much of Tuesday in the red until an update from the media and entertainment company this afternoon saw a late rally.

Here are the details.

What was announced?

HT&E advised it disposed of its entire equity stake and shareholding in out-of-home advertising company oOh!Media Limited (ASX: OML) today.

The company disposed of the shares for $1.78 each, thereby obtaining gross proceeds of $49 million.

HT&E had originally acquired its 4.2% stake in oOh!Media in April 2020, as an "equity investment in a sector and assets it is very familiar with".

The disposal of the shares realised a gain of $31 million on its original investment of approximately $15 million to $18 million at the time. However, it has done little to fire up the HT&E share price.

The $49 million is a welcome accretion to HT&E's balance sheet after it recently resolved an ongoing tax dispute with the Australian Taxation Office (ATO).

Here the ATO was chasing answers and payment on a total of $195 million in reference to one of HT&E's New Zealand branches. The company reached the resolution on a sum of $71 million – far lower than most expected – being in the best interests of shareholders.

The better-than-expected result saw the HT&E share price soar by more than 30% on the day. It also had leading brokers smiling, as the majority of analysts had baked in a far greater penalty toward the company.

Leading broker Jefferies reckoned the company would foot a $90 million bill from the dispute and was subsequently surprised at the outcome.

It consequently raised its price target on the HT&E share price by around 9% to $2.50 per share, implying an upside potential of 38% at the time of writing.

Today, the HT&E share price was struggling around $1.80 at the time of announcement — down around 2.7% on the day — before bouncing back to its closing price of $1.85.

HT&E share price snapshot

The HT&E share price is currently exactly where it started the year, at $1.85. However, shares in the media company have rallied 17% in the last month and around 20% this past week.

In the last 12 months, HT&E shares have climbed more than 27%, a smidge ahead of the S&P/AX 200 index (ASX: XJO)'s return of 23% in that time.

The post What happened to the HT&E (ASX:HT1) share price on Tuesday? appeared first on The Motley Fool Australia.

Shares in media and entertainment company HT&E Ltd (ASX: HT1) are sliding lower today and are now trading 5.44% down at $1.825 apiece.

HT&E shareholders have endured a bumpy ride these past few months but saw relief last week when the company's share price made a sharp turn to post a new 6-month high.

Here we unravel what's behind the move and what leading experts are saying on the outlook for HT&E investors.

What's up with HT&E shares lately?

After a period of losses where the HT&E share price marched towards its 52-week low, the company advised last week that its contest with the Australian Taxation Office (ATO) is now over.

The company confirmed it had settled a long-standing tax dispute involving $195 million in tax adjustments, interest, and penalties for a New Zealand branch.

It agreed to pay a sum of $71 million after lengthy consultation with its advisors, acknowledging it was in the best interests of shareholders.

Shares in Here, There & Everywhere popped almost 31% on the day of the announcement. The company gallantly stated that investors can now look to HT&E's future with more certainty.

Now that it has settled its dispute, how does this fare for the HT&E share price?

One leading broker has chimed in, lending its outlook on the future for the company's shares.

What is Jefferies saying about HT&E share price?

According to analysts at investment bank Jefferies, the settlement bodes well for HT&E shares. Jeffries agrees the outcome is a good one for the entertainment company.

It said widespread consensus had baked in the entire $195 million liability with the ATO in forecasting HT&E's earnings, not expecting this more favourable result.

Even the broker itself had included a $90 million assumption for the tax liability in its modelling — almost $20 million more than the eventual settlement.

Furthermore, it said "many investors would not consider investing in HT&E because of its complexity and the unknown quantum/timing of this [ATO] dispute".

As such, the broker reckons the settlement will lift the veil of uncertainty for some investors who were perhaps hesitant on HT&E shares.

This, it believes, "will now open a much larger investor universe including possible corporate interest".

From its updated modelling, the broker raised its price target on HT&E shares by almost 9% to $2.50 per share.

At current standing, this implies an upside potential of 35% for HT&E investors to clamp their teeth into.

HT&E share price snapshot

HT&E shares have climbed 23% in the last year and are around 1% in the red this year to date. That's well behind the benchmark S&P/ASX 200 Index (ASX: XJO)'s return of about 25% in the past year.

Despite this, the company's shares have rallied 12% in the past month and gained more than 21% in this past week of trading.

The post Why Jefferies sees 35% upside in the HT&E (ASX:HT1) share price appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why these ASX shares are charging higher:

HT&E Ltd (ASX: HT1)

The HT&E share price has surged 32% higher to $1.94. This morning the advertising and media company announced that it has reached a binding heads of agreement to settle the taxation dispute with the ATO for the sum of $71 million.

JB Hi-Fi Limited (ASX: JBH)

The JB Hi-Fi share price is up over 4% to $50.48. Investors have been buying this retail giant's shares after it was upgraded by a leading broker. According to a note out of Macquarie Group Ltd (ASX: MQG), its analysts have upgraded JB Hi-Fi's shares to an outperform rating with a $52.50 price target. The broker notes that consumer electronic purchases have rebounded strongly across its Macquarie Credit Card dataset.

Reece Ltd (ASX: REH)

The Reece share price is up 6% to $19.93. Investors have been buying the plumbing parts company's shares following the release of its first quarter update. That update revealed sales growth of 13.2% for the three months ended 30 September. In light of this, management is guiding to first half EBITDA growth of 8% to 11%.

ResMed (ASX: RMD)

The ResMed share price is up 5% to $37.36. This follows the release of a first quarter result ahead of the market's expectations. The sleep treatment focused medical device company reported a 20% increase in revenue to US$904 million and GAAP earnings per share of US$1.39. This compares to consensus estimates of US$860 million and US$1.24 per share, respectively.

The post Why HT&E, JB Hi-Fi, Reece, and ResMed shares are charging higher appeared first on The Motley Fool Australia.

Shares in media and entertainment company HT&E Ltd (ASX: HT1) are going gangbusters today. At the time of writing, the HT&E share price is trading 30.61% higher at $1.92, having earlier reached a high of $1.99.

This comes after the company announced a final resolution to a tax dispute it was embroiled in.

Here's what we know.

What was announced?

HT&E – which stands for Here, There & Everywhere – advised it has reached a binding heads of agreement with the Australian Taxation Office (ATO) to settle a taxation dispute. The news appears to be having a positive impact on the HT&E share price, which has been well in the green all day so far.

The dispute refers to a New Zealand branch of the company from the financial years ended December 2009 to December 2016. It has been running since 2018 when the ATO first commenced proceedings.

Specifically, the matter involved $102.5 million of tax adjustments, $49 million of penalties, and interest payable of $43 million, amounting to a total of $195 million.

Even though the company felt its treatment of the branch matters was in keeping with tax legislation, it felt the settlement of $71 million was "in the best interests of shareholders".

HT&E arrived at the $71 million figure after lengthy consultations with its tax advisors and considers it a fair outcome for the company, per the release.

The release also notes HT&E intends to pay the remaining balance of its settlement using its existing cash reserves.

Importantly, the company advised that its balance sheet remains in a strong position after the settlement.

Furthermore, the resolution of the "historic tax dispute removes the potential liability for a substantial amount of tax, interest, and penalties".

It allows HT&E and its shareholders to look forward with certainty, per the release.

HT&E share price snapshot

HT&E share price has had a difficult year to date, so today's gains are a welcome boost for shareholders. Since January 1, it has posted a return of just 4.8%. However is still up 28% in the last 12 months.

That's a slight step ahead of the benchmark S&P/ASX 200 index (ASX: XJO)'s gain of around 25% over the past year.

The post Here's why HT&E (ASX:HT1) share price is rocketing 31% today appeared first on The Motley Fool Australia.

This comes following the release of the media and entertainment company's half year financial results for the period ending 30 June, 2021.

The HT&E share price rockets on half year results

• Revenue of $109.9 million, up 21% from $93 million in the corresponding half year
• Underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) of $30.4 million, up 56% from $19.5 million
• Net profit after tax (NPAT) of $16.3 million, compared to $3.6 the in the corresponding half year
• Half year dividend of 3.5 cents per share declared, fully franked

What happened in during the half year for HT&E

HT&E reported that its radio network, ARN continued to perform strongly across the metropolitan audio market. ARN held its #1 radio network position in Australia for 13 consecutive surveys.

The company also said its advertising markets were strengthening in Australia and Hong Kong, while digital revenues exceeded expectations by 149%.

On 18 May, HT&E announced the potential sale of Soprano Design Limited – in which it holds a 25% stake – to Link Mobility Group Holdings, listed on the Oslo stock exchange. HT&E's stake is valued at approximately $139 million. The company now expects a binding Share Sale Agreement will be executed shortly.

HT&E reported a strong balance sheet with net cash of $122.4 million as at 30 June.

What did management say?

Commenting on the half year results, HT&E's chairman Hamish McLennan said:

The business has performed strongly, delivering materially higher revenues, with the balance sheet providing significant optionality with net cash of over $122.4 million at 30 June 2021, and debt facilities with undrawn limits of $251.0 million…

The Australian media sector is expected to consolidate further and our current capital structure puts HT&E in a real position of strength to explore opportunities to become a multi-platform media organisation of scale, with digital content and commercialisation at its core.

What's next for HT&E?

The company said that the digital revenue performance at ARN has continued into the third quarter. It reported that average monthly revenues for the quarter are on track to finish at more than $1 million per month.

HT&E's CEO, Ciaran Davis said the company, "We will continue to invest to deliver scale, multi-platform content, digital and data capabilities and in technology that makes it easier to plan and book with our assets."

The HT&E share price is up 40% over the past full year.

The post HT&E (ASX:HT1) share price rockets 6% on revenue boost appeared first on The Motley Fool Australia.

The HT&E Ltd (ASX: HT1) share price opened 0.5% higher today before giving up those gains to currently be trading 0.3% lower.

Below we take a look at the latest quarterly results from the ASX media and entertainment company, for the quarter ending 31 March (Q1 FY21).

What did HT&E report?

HT&E's share price is moving between gains and losses after the company reported it was the best performing audio company in Australia. It said its Australian Radio Network (ARN) remained the number 1 metropolitan network Down Under.

Total revenues at ARN for Q1 were up approximately 2.5% from the previous corresponding period. And with April revenues up 53% on the prior period, the company said Q2 FY21 is tracking well ahead of Q2 FY20.

HT&E's podcast business saw particularly strong growth in demand, seeing Q1 digital audio revenues increase more than 180% compared to the previous quarter. The company said it expects a similar level of growth to continue in Q2.

Commenting on ARN's performance, HT&E's CEO Ciaran Davis said:

ARN's radio revenue was down 21%, while the overall market was down 25.2%. Additionally, digital audio revenues were up 122% on a like basis and we saw good momentum in podcasting and streaming revenues.

Pleasingly, our operations have emerged from 2020 in better shape and we are encouraged that this momentum is continuing in 2021. We are dominating ratings, winning 11 surveys in a row…

We have invested in building our digital content creation, data capability and monetisation and we are starting to see the benefits of our exclusive partnership with global platform, iHeartRadio come through.

In Hong Kong, advertising revenues were "marginally ahead" of the prior period, impacted by restrictions put in place to control the COVID outbreak. The company said that improved revenues in April, along with forward bookings and briefing activity for the second quarter, point to rising consumer confidence and an improving advertising market.

HT&E's chairman, Hamish McLennan noted that:

We believe that there will be continued consolidation in media markets and with its deep media experience, HT&E's Board will be looking for further opportunities to maximise shareholder returns. As part of our focus on delivering value for shareholders we appointed Macquarie Capital to explore liquidity options for our 25% stake in Soprano.

The company ended the quarter with $112 million in net cash. It did not declare a dividend but McLennan said the board is committed to re-instating its dividend policy.

HT&E share price snapshot

HT&E has had a strong 12 months, with shares up 62% since this time last year. By comparison, the All Ordinaries Index (ASX: XAO) is up 34% in that same time.

The HT&E share price has struggled some in 2021, with shares down 3% year-to-date.

The post What's happening with the HT&E (ASX:HT1) share price today? appeared first on The Motley Fool Australia.

The HT&E Ltd (ASX: HT1) share price is soaring 16.18% at time of writing following the release of the company's half-year results. 

Half-year results

Despite advertising spend in both Australia and Hong Kong declining significantly due to the impacts of the coronavirus pandemic on the company's operations, the HT&E share price has rallied today.

The media and entertainment company reported that revenue was down 29% to $93 million compared to $130.9 million in the prior corresponding period (pcp). 

Additionally, earnings before interest, taxation, depreciation and amortisation (EBITDA) were down 49% to $19.5 million compared to $38.1 million in the pcp.

Underlying earnings per share, excluding exceptional items and discontinued operations, were down 86% to 0.9 cents per share from 6.3 cents per share in the pcp. Exceptional items included the Jobkeeper government subsidy.

The company also advised it is facing an ATO branch matter, but stated it remains confident in its position and will pursue the matter fully through to litigation. 

HT&E reports that radio audiences have remained engaged with commercial radio reaching a record high to over 11 million people weekly. Listening in the home has replaced listening in the car through the use of smart speakers.

Management comments

Commenting on the results, HT&E chair Hamish McLennan said:

The fundamentals remain strong with the underlying business making a profit for the half and maintaining an industry leading balance sheet with $90 million of cash reserves and $251 million of undrawn debt, providing HT&E with flexibility and alternatives for growth.

[Australia Radio Network] is weathering the storm, with overall radio listenership increasing, and streaming and digital audio consumption growing. Our clear commercial strategy, together with great talent integration is winning share and our Q3 and forward bookings are showing improved momentum.

Trading update

In the Australia Radio Network segment, trading in July has improved and finished an estimated 27% down for the month, an improvement on the 46% drop in the June quarter. August and September are tracking similar to July. HT&E said this could improve further in Q4 if current restrictions in Melbourne are moderate and aren't tightened elsewhere.

Additionally, HT&E advises that impacts from the coronavirus pandemic are continuing into Q3. It expects category spend in the Hong Kong outdoor segment could continue, provided restrictions lift and there is an absence of protest activity.

Furthermore, the company reported it remains on track to deliver total temporary operating cost savings in 2020 of $11 million–$14 million, before the current Jobkeeper subsidy benefit of approximately $9 million.

At the time of writing, the HT&E share price is up by 16.18%, trading for $1.40 per share.

The post HT&E share price jumps 16% on half year results, despite COVID-19 impact appeared first on The Motley Fool Australia.

Last week ended on a low note with the S&P/ASX 200 (ASX: XJO) falling 5% on Friday. Fear of missing out gave way to caution as investors questioned the impact of COVID-19 on profits. 

Economic indicators show the global economy shrinking at an alarming pace, with US GDP declining 4.8% in the March quarter. US unemployment claims have passed 30 million since shutdowns began. In Australia it is estimated close to a million people have lost jobs since the start of the pandemic.

Companies, too, are beginning to feel the pain. Last week Australia and New Zealand Banking Group Ltd (ASX: ANZ) saw profits drop 51% as a result of provisions for losses associated with COVID-19. National Australia Bank Limited (ASX: NAB) slashed its interim dividend by more than 60% as cash earnings took a dive. 

The share market rallied hard in April on hopes advanced economies would reopen quickly. The April performance was the best month on record since 1988. But on 1 May things took a turn – the fall in the S&P/ASX 200 on Friday erased more than half of April's 8.8% gains. We take a look at the 5 ASX shares that gained the most last week. 

Corporate Travel Management Limited (ASX: CTD)

The Corporate Travel Management share price ended the week up 38.4% at $12.57. Corporate Travel Management was an early victim of the coronavirus pandemic and saw shares fall nearly 80% from a January high of $22.15 to a low of $4.70 in March. 

Investors are moving back into Corporate Travel Management as low coronavirus infection rates indicate a potential easing of domestic travel restrictions. Prior to the pandemic more than half of Corporate Travel Management's total transaction value was domestic in nature. 

Corporate Travel Management is one of the few companies in its sector who have not tapped shareholders for capital support during the pandemic. In March the company outlined its strong liquidity position and stated it had no need to raise equity. 

In the current environment, Corporate Travel Management benefits from its lack of retail footprint, with a high proportion of the cost base variable. The company has undertaken a round of cost reductions of at least $10 million per month effective from the end of March. 

AP Eagers Limited (ASX: APE)

AP Eagers shares gained 31.7% last week and finished the week at $4.65. Before Friday's 9.53% fall in the share price, AP Eagers' shares were trading at $5.16. 

On Thursday morning the company announced its landlords had agreed to waive or defer 50% of its lease commitments over the next three months. AP Eagers dealerships have remained operational throughout the pandemic, but have suffered from a lack of foot traffic. 

The company has undertaken a wave of cost cutting in response to the economic shock caused by the coronavirus pandemic. Approximately 1,200 roles have been let go, reducing employee costs by around $6 million per month. Non-executive directors will forego director fees and senior executives have agreed to a 50% reduction in remuneration packages. 

AP Eagers is actively reviewing and optimising its dealership portfolio. Engagement continues with landlords. To date, a combination of waivers and deferrals of over 50% of the company's lease commitments over the next three months has been agreed upon.  

Operational initiatives have been implemented to preserve liquidity including a review of all marketing and advertising and a freeze on non-essential capital expenditure. AP Eagers has $270 million of cash and undrawn corporate debt facilities available. A further $122 million in OEM working capital facilities brings available liquidity to $392 million. 

Ooh!Media Limited (ASX: OML)

The Ooh!Media share price closed last week up 29.2% at 99.5 cents. Ooh!Media was hit hard in the market downturn. The outdoor advertising company saw its shares fall from above $3 early this year to below 60 cents in March. 

At the end of March Ooh!Media launched a $167 million equity raising to shore up its liquidity. Proceeds of the raise were used to repay debt. Cost control measures were introduced identifying $20 million – $30 million in savings. 

Last week, Ooh!Media shares spiked on speculation it could be a takeover target. Rival list media company HT&E Ltd (ASX: HT1) took a 4.2% stake in Ooh!Media in April. HT&E is in a stronger financial position than many in the media sector with $111 million in cash and $250 million in undrawn debt as at 31 December. 

Ooh!Media said the acquisition of its shares by other media companies underlined the value of its assets. Ooh!Media told the ASX it had not corresponded with HT&E and regarded its share purchase as "totally opportunistic".

Nearmap Ltd (ASX: NEA)

The Nearmap share price was up 24.9% last week to $1.48. The company has seen shares rise since its recent positive update. In the update, Nearmap confirmed it was on track to achieve its guidance for FY20 and unveiled cost cutting measures. 

Nearmap says it has not seen a material impact on current trading conditions due to coronavirus. Nonetheless, cost management initiatives have been deployed to preserve cash and maintain a strong balance sheet. Proposed measures equate to an approximate 30% saving in operating and capital costs. 

Employee remuneration has been reduced by 20% for six months effective 1 May. Permanent headcount is being reduced by the equivalent of 10% of the Company's cost base. Nearmap will continue to invest in growth initiatives such as the commercialisation of Artificial Intelligence and roof geometry content. 

Nearmap intends to be cash flow break even by the end of FY20. Its cost management initiatives will allow the company to maintain capital flexibility and strengthen the balance sheet.

IOOF Holdings Limited (ASX: IFL)

IOOF shares closed last week up 22.9% at $4.18. The IOOF share price surged more than 14% on Thursday after it revealed its funds under management, advice, and administration (FUMA) increased more than 30% in the three months to March. 

FUMA grew to $195.6 billion at 31 March, an increase of 34.2% or $49.8 billion compared to 31 December 2019. The total was boosted by IOOF's acquisition of ANZ's pensions and investments business in January which added $77 billion to FUMA. 

Market values of assets were impacted by the coronavirus pandemic which caused a $26 billion or 11.7% reduction in total asset values. This is lower than generally observed reductions in equity markets, with the S&P/ASX 200 falling 24% over the same period. 

The post These ASX shares made strong gains last week appeared first on The Motley Fool Australia.

April certainly was a great month for the S&P/ASX 200 Index (ASX: XJO). The benchmark index rebounded strongly and recorded a gain of 8.8%. This was its best month in over three decades.

While the majority of shares on the index pushed higher, some climbed more than most. Here's why these ASX 200 shares were the best performers in April:

The AP Eagers Ltd (ASX: APE) share price was the best performer on the ASX 200 last month with a 69.6% gain. This strong gain appears to have been driven by bargain hunters swooping in after a sizeable decline in the prior month. Even after factoring in this massive monthly gain, the auto retailer's shares are still down 65% from their 52-week high. Last month AP Eagers revealed that it was trying to cut costs materially to preserve cash and optimise liquidity. This includes negotiating rent reductions from its landlords.

The Afterpay Ltd (ASX: APT) share price wasn't far behind with a 66% gain last month. Investors were buying the payments company's shares after the release of an impressive business update. During the third quarter of FY 2020, the buy now pay later provider's strong form continued with further customer and sales growth. At the end of March, Afterpay's underlying sales reached $7.3 billion year to date. This was a 105% increase on the prior corresponding period. But perhaps the best news was that its losses and income margin remained stable during the quarter despite the coronavirus pandemic.

The oOh!Media Ltd (ASX: OML) share price was back on form and jumped 61% last month. Investors were buying the media and outdoor advertising company's shares amid speculation that rival HT&E Ltd (ASX: HT1) could be planning a takeover approach. This speculation was supported by an announcement that revealed that HT&E has snapped up 11 million shares in oOh!Media. HT&E now holds a 4.2% equity interest in the company and advised that it "looks forward to supporting oOh!media as a constructive significant shareholder."

The Scentre Group (ASX: SCG) share price rebounded last month and was up 49% over the period. This gain appears to have been driven by bargain hunting and optimism that retailers may open sooner rather than later. The shopping centre operator was also the subject of a positive broker note out of Morgan Stanley early in the month. It upgraded its shares to an overweight rating with a $2.20 price target.

The post These were the best performing ASX 200 shares in April appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a very positive note. In afternoon trade the benchmark index is up 1.95% to 5,307.8 points.

Four shares that are climbing more than most today are listed below. Here's why they are surging higher:

The Afterpay Ltd (ASX: APT) share price is up 7% to $21.28. Investors appear to be buying the payments company's shares in anticipation of a strong update when the market returns on Tuesday next week. A number of its competitors have released their latest numbers this month and revealed further strong growth.

The Mesoblast limited (ASX: MSB) share price has jumped 12% to $2.05 after releasing a trial update. According to the release, Mesoblast's allogeneic mesenchymal stem cell (MSC) product candidate remestemcel-L will be formally evaluated in a randomised, placebo-controlled trial in 240 patients with acute respiratory distress syndrome (ARDS) caused by COVID-19.

The Netwealth Group Ltd (ASX: NWL) share price has climbed 4% to $7.60. This morning the investment platform provider released its March update and revealed record quarterly net inflows. Netwealth experienced $3.2 billion of net inflows during the quarter, bringing its year to date net inflows to $7.6 billion. This offset unfavourable market movements and led to a funds under administration increase of 19.4%.

The oOh!Media Ltd (ASX: OML) share price has rocketed 25% to 79.5 cents. Investors have been buying the media and outdoor advertising company's shares amid speculation rival HT&E Ltd (ASX: HT1) could be about to launch a takeover approach. This follows news that HT&E has snapped up 11 million shares in oOh!Media. Late this morning HT&E confirmed its purchases and revealed that it currently holds a 4.2% equity interest in oOh!media. It commented that it "looks forward to supporting oOh!media as a constructive significant shareholder."

The post Why Afterpay, Mesoblast, Netwealth, & oOh!Media are surging higher appeared first on The Motley Fool Australia.