S&P/ASX 200 Index (ASX: XJO) shares finished the session on Friday down 0.9% to 7,115.2 points.
As earnings season continues, ASX 200 shares moved up and down this week as the market reacted to their latest company financial reports and the brokers updated their ratings and 12-month price targets.
As reported in The Australian, here are 6 ASX 200 shares re-rated by the professionals this week.
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IDP Education Ltd (ASX: IEL)
In its full-year FY23 results, IDP Education revealed record revenue and a 45% increase in its adjusted net profit after tax (NPAT) to $154.2 million. Student placements increased 53% to a record 84,600. IDP declared a final dividend of 20 cents per share, up 48% on the FY22 final dividend. Morgans raised its rating to add. Analyst Andrew Tang commented in a memo: "The outlook for student placement remains strong into FY24 … we like the long-term growth profile." Bell Potter went the other way, cutting its rating to hold with a $26.70 price target. The ASX 200 education share closed on Friday at $25.98, up 0.15%.
Iluka Resources Limited (ASX: ILU)
In its half-year earnings update, Iluka reported an NPAT of $204 million, down 45% on FY22. The ASX 200 mining share will pay a fully franked interim dividend of 3 cents per share. That's down from 22 cents per share in 1H FY22. Despite this, Citi raised its rating on Iluka Resources shares to buy with a $10 price target. Credit Suisse upgraded its rating to outperform with a $9.80 price target. The ASX 200 mining share finished the session on Friday at $7.96, down 4.33%.
Domino's Pizza Enterprises Ltd (ASX: DMP)
Domino's Pizza reported a 74.4% crash in net profit to $40.6 million in its full-year FY23 results. Its earnings before interest, taxes, depreciation and amortisation (EBITDA) fell 12.4% to $347.2 million. The ASX 200 share will pay an almost 30% lower final dividend of 110 cents per share. Despite this, Citi is optimistic. The broker raised its rating on Domino's to neutral with a $57.95 target. Meantime, JP Morgan cut its rating to underweight. The Domino's share price closed at $51.73 on Friday, down 3.63%.
Woolworths Group Ltd (ASX: WOW)
It could be argued that the ASX 200 supermarkets were among the few beneficiaries of high inflation in FY23. Woollies reported an NPAT before one-offs of $1,721 million, up 13.7% on FY22. The ASX 200 share will pay a final dividend of 58 cents per share, up 9.4% on the FY22 final payment. Morgans raised its rating to add. Analyst Andrew Tang explained: "While WOW is not cheap … we think its fundamentals remain strong with defensive characteristics, dominant market positions, and a highly-regarded management team." The Woolworths share price finished at $37.41 on Friday, up 0.94%.
National Storage REIT (ASX: NSR)
The National Storage real estate investment trust (REIT) revealed an IFRS profit after tax of $320.4 million, with earnings per share (EPS) of 25.8 cents, in its full-year FY23 report. The ASX 200 share will pay a 5.5-cent final dividend. Macquarie upgraded its rating to neutral with a $2.30 price target. CLSA also upgraded to reduce with a $2.21 target. The ASX 200 REIT share finished at $2.26 on Friday, down 2.16%.
Lottery Corporation Ltd (ASX: TLC)
The Lottery Corp revealed a 4.2% increase in group comparable EBITDA before significant items in its full-year FY23 results. The ASX 200 share will pay a final dividend of 6 cents per share fully franked. Jarden Securities reviewed the numbers and decided to raise its rating to neutral with a $5.46 price target. The Lottery Corp share price closed at $5.02 on Friday, down 2.52%.
