What did oOh!media report?

• Binding agreement for I Squared Capital (via OOH BidCo Pty. Ltd.) to acquire 100% of oOh! shares at $1.70 cash per share
• Total cash consideration comprises $1.68 per share plus a 2.0 cent fully franked interim 1H 2026 dividend
• Implied equity value of $898 million and enterprise value of $1.04 billion
• Scheme price is a 6.9% premium to the last close, and 100% premium to undisturbed price on 28 April 2026
• Potential additional fully franked special dividend of ~$0.10 per share, with franking credits for eligible shareholders
• Board unanimously recommends shareholders vote in favour, subject to no superior proposal and independent expert support

What else do investors need to know?

The proposed acquisition will proceed via a members' scheme of arrangement, requiring approval from oOh! shareholders and the court, alongside regulatory consents. If approved, eligible shareholders will receive total cash of $1.70 per share (inclusive of dividends), with potential to benefit from franking credits on declared dividends.

Key regulatory conditions include approvals from the Foreign Investment Review Board, New Zealand's Overseas Investment Office, and the ACCC. The board may also declare a fully franked special dividend before implementation, which could provide further franking credit benefits to shareholders able to utilise them.

What did oOh!media management say?

oOh! Chair Philippa Kelly said:

After a comprehensive and competitive process, the Board is pleased to have reached a binding agreement with I Squared Capital, at an attractive price. I Squared's focus on optimising the full value of the network aligns with the strategy of our CEO James Taylor and our experienced leadership team. The Board unanimously recommends the Scheme, which we believe reflects the strength of the number one Out of Home network across Australia and NZ, and would deliver a strong outcome for oOh! shareholder.

What's next for oOh!media?

A scheme booklet, including an independent expert's report, will be sent to shareholders around October 2026. The shareholder vote is expected in late October, with implementation should all conditions be met by late November or early December. Until then, no action is required from shareholders.

Completion remains subject to court and regulatory approvals, as well as absence of any material adverse events or superior proposals. oOh!media will continue to update investors as the process develops.

oOh!media share price snapshot

Over the past 12 months, oO Media shares have declined 11%, trailing the All Ordinaries Index (ASX: XAO), which has risen 5% over the same period.

View Original Announcement

The post oOh!media receives takeover offer appeared first on The Motley Fool Australia.

Extended takeover tussle dragging on

News first broke in April that Pacific Equity Partners had made an approach to buy the outdoor advertising company for $1.40 per share, followed in May by a $1.45 per share offer from I Squared Capital.

Then, in early June, the company confirmed that Bain Capital had made a non-binding offer to buy the company, after an article in the Australian Financial Review broke the story.

oOh!Media has now updated the market yet again, saying there were "multiple third parties" in talks about a potential takeover.

The company said in a statement to the ASX:

Having received unsolicited, conditional, non-binding indicative offers of $1.40 per share from Pacific Equity Partners (PEP) and $1.45 per share from I Squared Capital (ISQ), which the Board unanimously determined did not adequately reflect the intrinsic value of oOh!, the Board and its advisers subsequently engaged with both PEP and ISQ, in addition to Bain Capital and other financial sponsors. The Board provided limited due diligence to enable each party to assess whether it was able to put forward a revised proposal that may be capable of the Board's recommendation. After a 3-week period of limited due diligence, the Board has received indicative proposals from PEP, ISQ and Oaktree Capital Management, with a number of those proposals offering $1.60 per share. The revised proposals are subject to a number of conditions consistent with those of the previously disclosed proposals.

The company said it intended to provide further due diligence to the companies involved, which was expected to take up to six weeks.

oOh!Media said there was no guarantee a transaction would eventuate.

Shares in the company traded as high as $1.45 before settling slightly higher at 5.8% to $1.455.

Operations continue to deliver

oOh!Media is performing well, with the company in May issuing an update to the market saying it was expecting first-quarter revenue growth of 7% for Australia and 4% for the group, slightly ahead of projections from February.

oOh!Media Managing Director James Taylor said at the time:

The Out of Home sector continues to benefit from strong structural growth, and we are executing our strategy to cement oOh!'s market leadership. The launch of MOVE is a growth catalyst, clearly demonstrating the superior quality and unmatched scale of our network to advertisers. Since February we have identified $12 million in annualised FY26 run rate pre-tax cash savings and an array of related operational benefits. This unlocks further value for our customers and shareholders. While we note some advertiser uncertainty given the broader macro environment, we are pleased with our overall outlook and look forward to updating shareholders at this morning's AGM.

The post Shares in this ASX 300 company are charging higher as takeover bids increase appeared first on The Motley Fool Australia.

An article in the Australian Financial Review on Tuesday morning said that private equity company Bain Capital had made a non-binding offer to buy oOh!media about two weeks ago, and was still interested in an acquisition.

Another bidder in the mix

oOh!Media confirmed in a statement to the ASX on Tuesday that this was correct.

It added:

As disclosed to the market on 11 May 2026, in addition to progressing discussions with Pacific Equity Partners and I Squared Capital, oOh! is engaging with other parties regarding a potential change of control transaction. oOh! has received conditional non-binding indicative offers from Bain Capital and other financial sponsors which are consistent with the terms of the I Squared Capital proposal. oOh! does not intend to comment further on press speculation regarding change of control proposals. oOh! will continue to update the market in accordance with its continuous disclosure obligations.

oOh!Media shares were up 8.4% on the news to $1.36, which is still a discount to the $1.45 per share offered by I Squared Capital and the $1.40 per share from Pacific Equity Partners.

Bids priced too cheaply

oOH!Media Chair Tony Faure told the company's annual general meeting in May that "the Board, together with our advisers, has considered and unanimously determined that they do not adequately reflect the intrinsic value of oOh!".

He added:

However, we are prepared to engage with all parties to assess whether any proposal may emerge that is capable of being recommended by the Board. oOh! will provide parties with access to a limited amount of due diligence information to enable them to assess revised proposals that may be capable of the Board's recommendation. We are committed to moving at pace as we evaluate the offers, with a firm focus on achieving the best outcome for shareholders.  

Company operations performing well

Also in May, the company said it was trading strongly and expected first-quarter revenue growth of 7% in Australia and 4% for the group, slightly ahead of projections from February.

oOh!Media said at the time that its Operational Excellence program and its exit from retail media delivered a 9% headcount reduction and $12 million in annualised savings from FY27.

The company said on the downside that first-half gross margins would be softer than anticipated.

oOh!Media Managing Director James Taylor said:

The Out of Home sector continues to benefit from strong structural growth, and we are executing our strategy to cement oOh!'s market leadership. The launch of MOVE is a growth catalyst, clearly demonstrating the superior quality and unmatched scale of our network to advertisers. Since February we have identified $12 million in annualised FY26 run rate pre-tax cash savings and an array of related operational benefits. This unlocks further value for our customers and shareholders. While we note some advertiser uncertainty given the broader macro environment, we are pleased with our overall outlook and look forward to updating shareholders at this morning's AGM.

oOh!Media is valued at $662.9 million.

The post How high could the bidding war for this ASX 300 company go after a third takeover suitor emerges? appeared first on The Motley Fool Australia.

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

4DMedical Ltd (ASX: 4DX)

The 4DMedical share price is up 2.5% to $4.06. This is despite there being no news out of the medical technology company. However, it is worth noting that Bell Potter is bullish on the company. Last week, the broker retained its speculative buy rating on 4DMedical's shares with an improved price target of $6.00 (from $4.85). Bell Potter said: "The clinical data from the CLEAR study will provide the necessary evidence to further support broad adoption for diagnosis of PE [Pulmonary Embolism]. Outpatient reimbursement will continue under the existing category III CPTA codes paid at US$650/scan. TAM for this market is estimated at $2.5bn annually."

Eagers Automotive Ltd (ASX: APE)

The Eagers Automotive share price is up 3% to $21.49. This also may have been driven by a broker note out of Bell Potter. This morning, the broker retained its buy rating on the automotive retailer with a slightly trimmed price target of $28.00 (from $28.75). It said: "In our view the stock looks reasonable value trading on PE ratios of c.20x and 17x in 2026 and 2027 where the latter is the first full year of the CanadaOne investment (so is the more relevant in our view). We also see the recent trading update at the AGM as effectively "cleansing" the market as the H1 result has now been largely flagged – so there should be no surprises."

IDP Education Ltd (ASX: IEL)

The IDP Education share price is up 6% to $2.12. On Friday, S&P Dow Jones Indices revealed that the language testing and student placement company was being removed from the ASX 200 index at this month's quarterly rebalance. While this is usually a negative for a stock, IDP Education is one of the most shorted shares on the local market. As some short sellers are only able to target ASX 200 shares, it is possible that they are buying shares today to close their sizeable positions. The rebalance will take place prior to the open of trading on 22 June.

oOh!Media Ltd (ASX: OML)

The oOh!Media share price is up 8% to $1.36. This morning, this out of home media company revealed that it has received a competing non-binding takeover offer from Bain Capital and other financial sponsors. It revealed that the offer is consistent with the terms of the I Squared Capital proposal. It concludes: "oOh! does not intend to comment further on press speculation regarding change of control proposals. oOh! will continue to update the market in accordance with its continuous disclosure obligations."

The post Why 4DMedical, Eagers Automotive, IDP Education, and oOh!Media shares are charging higher today appeared first on The Motley Fool Australia.

Strong quarterly performance

Shares in the company were more than 4% higher at $1.35 apiece, after the company said in a statement to the ASX that it was expecting first-quarter revenue growth of 7% for Australia and 4% for the group, slightly ahead of projections from February.

oOh!media said its Operational Excellence program and its exit from retail media delivered a 9% headcount reduction and $12 million in annualised savings from FY27.

The company said on the downside that first-half gross margins would be softer than anticipated.

oOh!media Managing Director James Taylor said:

The Out of Home sector continues to benefit from strong structural growth, and we are executing our strategy to cement oOh!'s market leadership. The launch of MOVE is a growth catalyst, clearly demonstrating the superior quality and unmatched scale of our network to advertisers. "Since February we have identified $12 million in annualised FY26 run rate pre-tax cash savings and an array of related operational benefits. This unlocks further value for our customers and shareholders. While we note some advertiser uncertainty given the broader macro environment, we are pleased with our overall outlook and look forward to updating shareholders at this morning's AGM.

Takeovers remain in play

The updates come following two recent takeover offers lobbed for the company by I Squared Capital for $1.45 per share, and by Pacific Equity Partners for $1.40 per share.

Chair Tony Faure told the company's annual general meeting on Thursday that "the Board, together with our advisers, has considered and unanimously determined that they do not adequately reflect the intrinsic value of oOh!''.

He added:

However, we are prepared to engage with all parties to assess whether any proposal may emerge that is capable of being recommended by the Board. oOh! will provide parties with access to a limited amount of due diligence information to enable them to assess revised proposals that may be capable of the Board's recommendation. We are committed to moving at pace as we evaluate the offers, with a firm focus on achieving the best outcome for shareholders.   

Mr Faure said oOh!media was also engaging with other parties regarding a potential change of control transaction.

oOh!media shares have traded as high as $1.83 over the past 12 months and as low as 84.5 cents.

The ASX media company is valued at $686.7 million.

The post This takeover target is beating forecasts, sending shares in the ASX media company higher appeared first on The Motley Fool Australia.

This follows Pacific Equity Partners offering to buy the company for $1.40 per share in late April.

Shares trading higher

Shareholders who bought in at recent lows below $1 will be happy. Meanwhile, for longer term holders, the offers are well below levels reached in October last year, with the stock then trading above $1.80.

oOh!media shares were changing hands for $1.32 on Monday morning, up 5.4%.

oOh!media's board said the second takeover offer was, similar to the PEP offer, non-binding and conditionals.

They added:

The ISQ proposal is subject to a number of key conditions broadly consistent with those relating to the PEP proposal, including the satisfactory completion of due diligence by ISQ and entry into binding transaction documentation on acceptable terms. The ISQ offer price is also subject to an adjustment under which the offer price will be reduced by the amount of any future dividends or other distributions paid to shareholders. The Board of Directors of oOh!media Limited (Board) has considered both proposals in conjunction with its advisers and has unanimously determined that neither proposal adequately reflects the intrinsic value of oOh!. The Board has informed both PEP and ISQ that it does not intend to recommend to shareholders any formal binding offer at or below the value of their respective non‑binding indicative proposals.

While the board does not think either bid represents good value for shareholders, they said that they would allow both parties, "access to a limited amount of due diligence information to enable each party to assess whether it is able to put forward a revised proposal that may be capable of the board's recommendation''.

More than two bids possible

They also hinted that more bids may be in the offing:

oOh! is also engaging with certain other parties and may potentially receive change of control proposals from one or more of those parties and potentially other parties. oOh! is open to engaging with all parties to assess whether any proposal may emerge that is capable of being recommended by the board.

The board said it had also decided to pause its share buyback while the corporate activity ran its course.

oOh!media is scheduled to hold its annual general meeting on May 14.

The company is valued at $665.6 million.

The post This ASX media company has attracted a second takeover offer. Let the bidding war begin appeared first on The Motley Fool Australia.

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

29Metals Ltd (ASX: 29M)

The 29Metals share price is up 8% to 23.7 cents. This follows the release of the copper miner's quarterly update. 29Metals revealed that copper production was 6.4kt with C1 costs of US$4.25 per pound. While this compares unfavourably to the previous quarter, it appears to have been better than feared. It also stated that: "Considering various factors, it is expected that existing liquidity will be sufficient to fully fund the revised plan for 2026 and maintain growth investments at Gossan Valley and exploration."

Aurelia Metals Ltd (ASX: AMI)

The Aurelia Metals share price is up 9% to 30.5 cents. This may have been driven by a broker note out of Ord Minnett this morning. According to the note, the broker has retained its buy rating on the gold miner's shares with an improved price target of 50 cents. In addition, the team at Macquarie has retained its outperform rating and 40 cents price target on Aurelia Metals shares.

Codan Ltd (ASX: CDA)

The Codan share price is up 16% to $42.23. The catalyst for this has been the release of a trading update from the technology company this morning. Codan revealed that the second half has been stronger than expected. As a result, it now expects FY 2026 EBIT to hit $235 million and net profit to reach $170 million.  This will be an increase of over 60% from last year. The company said: "In DTC, strong demand from defence customers for unmanned systems, supported by ongoing geopolitical tensions, continues to drive growth in our software-defined radios (SDRs). As a result, the Communications business is expected to achieve revenue growth at the top end of the 15% to 20% range for the full year FY26."

oOh!Media Ltd (ASX: OML)

The oOh!Media share price is up 40% to $1.19. This follows news that the media company has received a takeover offer from Pacific Equity Partners (PEP). The company advised that it received an unsolicited, non-binding indicative offer from PEP to acquire 100% of oOh!Media at $1.40 per share via a scheme of arrangement. In response, it said: "The Board of oOh!, together with its advisers, is considering and evaluating the Proposal and will update shareholders in due course. There is no certainty that the Proposal will result in a binding offer or that any transaction will eventuate."

The post Why 29Metals, Aurelia Metals, Codan, and oOhMedia shares are racing higher today appeared first on The Motley Fool Australia.

The sharp move caught the market's attention and sparked a rally in a stock that, prior to the announcement, had been trading 34% lower than when it started the year.

Private equity bid sparks the rally

The catalyst for the surge was an unsolicited, non-binding indicative offer from PEP to acquire 100% of oOh!Media at $1.40 per share via a scheme of arrangement.

That price represented a 65% premium to where the stock had been trading yesterday, triggering an immediate higher re-rating when trading commenced this morning.

Takeover offers often lead to this kind of step-change in share price as the market anchors to the bid price minus a discount reflecting uncertainty surrounding the deal.

Why is the share price trading below the offer?

Even after the rally, oOh!Media shares are trading around $1.20 (at the time of writing), well below the proposed $1.40 offer price.

That roughly 15% discount reflects market uncertainty about the likelihood of the deal progressing.

At this stage, the proposal is non-binding and subject to a number of conditions, including due diligence, board approval, regulatory clearances, and final investment committee sign-off from PEP.

There's also no guarantee a binding agreement will be reached at all.

In situations like this, the market assigns a probability to the deal completing. If investors believed the takeover was certain, the share price would sit much closer to $1.40. The current discount suggests that the market is pricing in some execution risk.

What comes next?

From here, the situation becomes a waiting game for oOh!Media investors.

The key milestone will be whether PEP progresses from an indicative proposal to a binding offer. That typically follows due diligence and further negotiation with the board.

There's also the possibility of competing bids emerging, particularly given oOh!Media's position as a leading out-of-home advertising network across Australia and New Zealand.

However, until something more concrete is announced, the share price is likely to trade in a range that is pulled higher by the takeover price, but capped by uncertainty.

Foolish bottom line

oOh!Media's 40% surge is welcome news for investors, but there is still some uncertainty about whether this deal will proceed. After all, the takeover price of $1.40 is well below where oOh!Media shares were trading less than a year ago (around $1.80 in August 2025). Investors will be hoping that this is just the start of a bidding war that pushes the price even higher.

The post oOh!Media shares rocket 40% higher on takeover offer appeared first on The Motley Fool Australia.

I'd imagine there are very few of those high-yield ASX 300 shares that are expected to deliver earnings growth of more than 33% between FY26 and FY28, which is what analysts are predicting.

oOh!Media describes itself as a leading out-of-home media company that helps advertisers, landlords, leaseholders, community organisations, local councils, and governments reach large and diverse public audiences.

It has an extensive network of digital and static locations across Australia and New Zealand, including roadside locations, retail centres, airports, train stations, bus stops, office towers, and universities.

The ASX 300 share is projected to pay a large dividend yield

oOh!Media decided to deliver investors a large dividend per share of 6.25 cents in FY25. The final dividend of 4 cents per share represented a year-over-year increase of 14%.

The business said that its full-year dividend payout ratio was 53% of underlying adjusted net profit.

The forecast on CommSec suggests the business could deliver pleasing growth in FY26 (and beyond). In the 2026 financial year, it's projected to increase its payout to 6.3 cents. The annual payment could then rise to 7.4 cents per share in FY27 and 8.1 cents per share in FY28.

Following the 35% decline of the oOh!Media share price in the last six months, the potential FY26 payout now translates into a grossed-up dividend yield of 9.4%, including franking credits, at the time of writing.

That shows the business could provide significant passive income in the next year.

Positives to consider about oOh!Media

There may well be a bit more competition at the moment, but the ASX 300 share operates in a growing sector, which alone could help the business deliver rising profits in the coming years. Scale has its advantages in an industry like this, and oOh!Media is one of the biggest in the sector.

A few weeks ago, when the company gave its FY25 results during the reporting season, it revealed some positive commentary.

It said that it continued to see growth in the 2026 calendar year, with first-quarter media revenue "pacing up 7% in Australia".

oOh!Media expects that out-of-home will continue to take revenue market share from other media sectors.

The ASX 300 share also noted that 2026 capital expenditure will be between $55 million and $65 million, largely funding new advertising assets.

The forecast on CommSec suggests the business is trading at 8x FY26's estimated earnings. Earnings per share (EPS) are projected to rise 34% over two years to 15.5 cents by FY28, which would mean it's valued at just 6x FY28's estimated earnings.

In other words, it seems really cheap, and I think it just needs to deliver a bit of earnings growth to justify a significantly higher share price.

The post This is the ASX 300 share offering a 9% dividend yield! appeared first on The Motley Fool Australia.

In a research note sent to clients this week, the team at Macquarie have named their top pick in the media sector.

Even the companies Macquarie has a neutral rating on are changing hands below its price targets, meaning double-digit gains might still be on the table.

Ad spend weak in October

Macquarie said the Standard Media Index – a measure of Australian ad agency spending – showed that spending for October fell 15% compared to the same month last year, and across the first half of the year to date, spending was down 7%.

Spending in the out of home sector was down 6% for October, while free-to-air TV spending was 16% lower for the month.

Macquarie said further:

The ad market does not look to have seen the expected stabilisation during the December quarter, which generally makes up 27% of volumes. There is however some optimism into early-2026 for improvement, but without clear catalysts, noting: 1) Australia likely moving to a rate hike cycle and 2) booking visibility still short.

Macquarie said that media stocks generally underperformed when rates were rising, but it did name one company it expected to outperform, in oOh!media Ltd (ASX: OML).

For Nine Entertainment Co (ASX: NEC) and Seven West Media Ltd (ASX: SWM), the broker's research team said they remained cautious with regard to free-to-air television advertising spending, "and the need to constantly manage costs to support earnings''.

Revenue set to increase

Positives for oOh!media included an increase in out of home spending of 9% year to date, despite the weakness in October.

Macquarie is predicting 6% year-on-year revenue growth for the company, "supported by positive 1Q26 feedback, although visibility is low, and an Australian rate hike cycle may impact growth''.

The Macquarie team have a price target of $1.45 on oOh!media shares, compared with $1.29 at the close on Tuesday.

With regard to Nine and Seven, Macquarie points out that the FTA TV market has been in structural decline for the past 10-plus years.

Looking at the fourth quarter of 2025, the expected stabilisation of total TV revenues (FTA + broadcast video on demand growth) across the industry does not seem likely as FTA declines (over 80% of volumes) continue to more than offset BVOD. During October 2025, we estimate that total volumes were down 9%-11% and November / December also looks challenging, with Nine recently commenting that 'the total TV market remains soft and very short for the run into Christmas'.

Macquarie said for both Nine and Seven, "further cost initiatives will be paramount to protecting profitability''.

Despite not being bullish on the advertising market, Macquarie's price targets for both shares are above current trading levels, with a target of $1.25 for Nine, against a price of $1.11 on Wednesday, and a price target of 16 cents for Seven, compared with 13.5 cents.

Seven is also currently undergoing a process to merge with Southern Cross Media Group Ltd (ASX: SXL), with the deal announced in late September.

The post Which three media companies could deliver double-digit returns? appeared first on The Motley Fool Australia.

At the time of writing, oOh!Media Ltd (ASX: OML) shares are also trading in the green, up 0.16% for the day at $1.26 a piece.

The ASX All Ords stock has shed 31.6% of its share price since August, after investors reacted poorly to its H1 FY25 results. For the year-to-date, the share price is still 6.05% higher.

Just last week Macquarie Group Ltd (ASX: MQG) tipped a 45% upside for the shares over the next 12 months. But in a note to investors this morning, the broker has revised its expectations on the ASX All Ords media stock.

The media company released a trading update late last week which revealed updated guidance for 2025. The company expects revenue to be slightly below the 2024 calendar year, in the range of $689 million to $694 million and adjusted EBITDA to be $139 million to $142 million including NZ restructuring costs.

Target price cut on oOh!Media shares

The broker has maintained its outperform rating on the shares. But it has lowered its 12-month target price to $1.45, down significantly from the price target of $2 just last week. 

At the time of writing that represents a potential upside of 15.1% for investors.

"Target price =A$1.45/sh (A$2.00/sh previously), based on 12x 12-month forward P/E, which is now a 15% discount to its long-run average (14x). Improved visibility and ad trends would support a higher multiple," the broker said in its new note to investors.

oOh!media has significant operating leverage and the ad market has been see-sawing through 2025, with commentary now suggesting we are through the worst of it. Valuation is attractive, on 10x 12-months forward P/E (vs. 14x through the cycle avg.), and an improved ad market would support a re-rating.

What else did the broker have to say about the ASX All Ords stock?

Macquarie analysts noted that oOh!Media's updated guidance implies 4Q25 will be down a few percent, which is the biggest ad spend quarter. 

Slowing revenues and mix (retail higher margin), will now see the gross margin at around 43% in 2025, whilst operating cost guidance is unchanged ($159 million to $161 million), and results in adjusted EBITDA of $139 million to $142 million in 2025. This is 9% higher than guidance, which was already 9% below Macquarie estimates of $154 million, and 7% below market expectations of $152 million.

We now forecast A$150m 2026 adjusted EBITDA, +8% yoy (previously A$170m); and is based on: 1) A$731m revenues, +6% yoy (+4%pts underlying + 2%pts net new contracts), 2) 43% gross margin, consistent with 2025, and 3) A$161m operating costs, +2% yoy, benefitting from cost-out annualisation.

The post Down 31% since August: This ASX All Ords media stock is tipped to rebound appeared first on The Motley Fool Australia.

Today, we can probably downgrade this ASX All Ords media stock's 2025 from great to good. That's given that oOh!Media, at the time of writing, has fallen almost 25% from that 52-week high. It's still a decent year-to-date performance, though. At $1.38 a share at the time of writing, the company remains up 11.95% since 1 January.

oOh!Media investors are used to volatility. But what might the future hold in store? Could this ASX All Ords stock retest its 52-week high?

Luckily for investors who are pondering that question today, analysts at Macquarie have just taken an in-depth look at oOh!Media shares. Let's see what they've found.

Macquarie rates this ASX All Ords stock as a screaming buy

As you've probably gathered from the headline, Macquarie is extremely bullish on oOh!Media shares. It has given the company an outperform rating, alongside a 12-month share price target of $2.

If realised, that would see oOh!Media stock easily rally back above its current 52-week high and beyond. For an investor who bought in at the current price, that's a potential upside of 44.93%.

This bullish outlook stems from an optimistic forecast of the company's fortunes over the rest of the 2025 financial year and beyond. Macquarie is expecting the ASX All Ords media stock to report a 10% rise in revenues in the second half of the financial year. That's thanks mainly to "benefits from new contracts". That would be on top of the 17% growth oOh!Media reported for the first half.

Macquarie's analysts still warn investors that risks remain, though. They point to threats from competition, as well as broader advertising spending in the economy (which is notoriously volatile), as potential pressure points. Cost management threats and ongoing capital requirements to the business were also mentioned as areas for investors to keep their eyes on.

Even so, this report will no doubt come as a comfort for oOh!Media's investors, and anyone else who is keeping their eyes on this ASX All Ords media stock.

At the current share price, oOh!Media is trading on a price-to-earnings (P/E) ratio of 37.5, with a trailing dividend yield of 4.17%.

The post Macquarie tips 45% upside for this ASX All Ords media stock appeared first on The Motley Fool Australia.

oOh Media is not one of the most recognised names on the ASX, but it's very likely Aussies have seen its presence around the streets, roads and shopping centres of Australia. It describes itself of Australia's number of out of home advertising company. The appeal is because it "can't be stopped, blocked, paused, or skipped."

The company's success is somewhat linked to the overall advertising landscape, so that's something Macquarie keeps a close eye on.

Let's take a look at what experts are seeing with the business and the sector as a whole.

Expert views on the advertising industry

Macquarie highlighted in a note that the Standard Media Index, a measure of Australian agency advertising spending, showed that July spending fell 12% year-over-year, though the 2025 year-to-date spending is still up 1% year-over-year. The last three months have shown a decline of 5% year-over-year.

The broker noted that ASX-listed media companies have talked about a slow third quarter of 2025, though there are "suggestions that trends improve sequentially" in the fourth quarter of 2025. This could be good news for the ASX All Ords stock

However, within that mixed bag, out-of-home continues to outperform other categories and is the fastest-growing, with 2025 year-to-date showing a rise of 11% year-over-year. Over the 12 months to July 2025, it has a market share of 16%, representing an increase of 1.1 percentage points year over year. However, the month of July 2025 saw a decline of 8% (better than the overall advertising market). The last three months have shown a 4% year-over-year rise.

Macquarie said it's "constructive" on the outlook for Australian advertising spending. It also pointed out that rate cuts may provide a tailwind for the industry with improved consumer confidence and spending.

Why is Macquarie bullish on the ASX All Ords stock?

The broker said:

We continue to see the out-of-home category as a structural winner, with ongoing challenges within free-to-air TV, radio and print, and of which supports oOh!media as our top pick…within traditional media.

The broker is forecasting revenue growth of 10% in the second half of FY25, compared to growth of 17% in the first half. Macquarie is forecasting advertising spending growth of 7.5% in the fourth quarter of 2025. The broker also points to benefits from new contracts, with "possible upside" from the Transurban Group (ASX: TCL) contract.

Macquarie has a buy/outperform rating on the ASX All Ords stock, with a price target of $2. That implies a possible rise of almost 40% from where it is today, which could be a very large return if it plays out.

The post Macquarie names top ASX All Ords stock with 40% upside appeared first on The Motley Fool Australia.

Broker UBS has picked out a few names that it not only rates as buys, but could deliver a significant performance that would likely be market-beating.

I'll highlight two of these stocks that don't get many headlines but may deliver both pleasing earnings growth and capital returns.

oOh!Media Ltd (ASX: OML)

UBS describes oOh! Media as the largest out-of-home media company in Australia and New Zealand, with a market share of approximately 40%. It operates a network of tens of thousands of digital and static advertising locations, including roadside, retail centres, airports, train stations, bus stops, office towers and universities.

The broker acknowledged the oOh!Media share price fell after its result because of a 2% earnings miss, a noticeable increase in capital expenditure and revenue growth slowing to 5% in the third quarter of FY25.

UBS believes its lower margins were a one-off impact and unlikely to be repeated going forward. The broker said it's comfortable with the ASX share's capital expenditure increase because it comes off the back of a significant amount of contract wins and ramp-up, which "should be viewed as a positive and supports the stock's growth outlook".

The broker suggests the business is appealing because it could grow operating profit (EBIT) at a compound annual growth rate (CAGR) of 14% over the next three years, which it thinks is attractive considering it's trading at a projected forward price/earnings (P/E) ratio of 11.

UBS is expecting revenue growth of between 6% to 7%, with rising profit margins for the company.

The broker has a price target of $2 on the business, which implies a possible rise of 30% within a year.

Breville Group Ltd (ASX: BRG)

Another business that UBS really likes is Breville, which sells small electrical kitchen appliances through its global product and distribution segments.

The business is currently facing headwinds from tariffs and needs to move production outside of China for its 120V products.

UBS noted that there is a "wide range of potential outcomes" depending on the company's ability to "increase prices (and reduce discounts), improve mix (moving to higher margin retailers) and manage costs".

The broker has a buy rating on the ASX share based on its high growth coffee machine total addressable market, the opportunity to scale in new markets like China and the low level of market penetration should support at least a doubling of sales over the next 10 years.

UBS thinks FY26 represents a transition year and the market should look to the potential from FY26 with operating profit (EBIT) growth of 16%. Utilising production in Mexico could make a big difference, as well as further labour cost savings in geographies outside of China.

According to the forecasts from the broker, the Breville share price is valued at 26x FY28's estimated earnings. The price target of $39.80 implies a possible rise of 22% over the next year.

The post 2 ASX shares buy-rated by experts that could take off appeared first on The Motley Fool Australia.

A recent report into the media sector rates oOh media as outperform, while the more diversified Nine Entertainment Co. Holdings Limited (ASX: NEC) and Seven West Media Limited (ASX: SWM) attracted a neutral rating.

The Standard Media Index, a measure of Australian agency ad spend, showed that July spend fell 12% year on year, which brings 2025 year to date to +1% year on year, and the past three-months down 5% year on year. For context, ASX listed media companies have talked to a slow 3Q25, but with suggestions that trends improve sequentially in 4Q25.

In contrast to the broader market, the out of home sector where oOhmedia "continues to outperform other categories" is up 11% so far this calendar year, Macquarie analysts said.

July 2025 out-of-home ad spend dropped 8% YoY (2025 YTD growth = +11%); however, given month-to-month volatility the trailing three-month average is a better measure in our view and is +4% YoY – this compares to the total ad market which has dropped 5% in the same period.

The broker has a target price of $2 on oOh Media compared with the current price of $1.67. It expects Seven West Media shares to appreciate marginally to 16 cents from 14 cents. In contrast, the broker expects Nine Entertainment Co. shares to fall sharply to $1.25 from $1.75.

Macquarie says it remains positive around advertising spending overall, with industry feedback suggesting a strong finish to the calendar year, particularly given the likelihood of another official interest rate cut in November bolstering consumer spending.

We continue to see the out-of-home category as a structural winner, with ongoing challenges within free-to-air TV, radio and print, and of which supports oOh!media as our top pick within traditional media. Importantly, out-of-home trends are expected to improve in 4Q25 (albeit with low visibility) with agency feedback talking to improvements and with rate cuts expected to support improved consumer sentiment/spending.

Macquarie said Nine Entertainment Co. and Seven West Media were both at risk from the structural decline of the print sector and the uncertainty around macroeconomic conditions more generally.

The broker said both also faced risks from potential wins and losses in sporting rights and other content in a competitive market.

The post Can you guess Macquarie's top pick in the ASX media sector? appeared first on The Motley Fool Australia.

Shares in the ASX All Ords media stock tumbled by 10% during the session, sliding from Friday's close of $1.77 per share to finish at $1.59 apiece by the end of trading.

The sell-off stemmed from the group's first-half FY25 results which appeared to fall short of expectations.

However, there could be a silver lining.

Renowned investment bank Macquarie Group Ltd (ASX: MQG) has now chipped in with its views on oOh!Media's results – and the analysis offers encouragement for investors.

But before we get to Macquarie's verdict, let's first step through oOh!Media's performance over the first half of the financial year.

What happened?

oOh!Media specialises in out-of-home (OOH) advertising – a sector covering billboards, bus shelters, digital screens, and other high-visibility formats in busy public spaces.

All up, the group manages a network of more than 35,000 sites across Australia and New Zealand, spanning roadsides, shopping centres, airports, and others.

For the first half of FY25, the ASX All Ords media stock delivered a solid set of numbers.

Revenue of $336.2 million jumped by 17% year over year.

Adjusted gross profit climbed by 13% to $140.6 million, and underlying operating earnings (EBITDA) increased by 27% to $62.2 million.

Most impressively, adjusted underlying net profit after tax (NPAT) of $26.5 million bolted by 46% from the same time last year.

Shareholders were also rewarded with a fully franked interim dividend of 2.25 cents per share, marking a 29% increase from the previous corresponding period.

So, with the numbers on the table, how does Macquarie view the ASX All Ords media stock?

Let's find out.

Macquarie has its say

Firstly, oOh!Media's half-year revenue growth of 17% came in 4% ahead of Macquarie's forecasts – and above management's prior guidance.

The broker also highlighted the company's new contract win with Transurban, which is expected to contribute some $22 million in annual revenue.

Macquarie is now forecasting revenue for the full financial year to come in at $154 million. This represents 20% year-over-year growth but is 3% lower than its past prognosis.

However, it noted that NPAT for the half year came in slightly below expectations, despite the sharp year-over-year jump.

It now projects NPATA for FY25 to come in at $71 million – a 5% downtick from earlier estimates.

That said, the broker upgraded is forecasts beyond FY25 after incorporating oOh!Media's new contract wins worth $90 million between FY24 and FY27.

It believes the ASX All Ord media stock is now positioned to deliver average annual revenue growth of about 9% through to FY27, which could support further growth in NPAT.

In turn, Macquarie placed an outperform rating on oOh!Media shares with a 12-month price target of $2.00 per share.

This implies potential gains of 19% from $1.68 per share at the time of writing.

The post Macquarie tips 19% upside for this ASX All Ords media stock after reporting day appeared first on The Motley Fool Australia.

The company's share price climbed from $1.19 apiece in early January to close out last week at $1.77 per share.

This rally represents an impressive 49% gain in less than eight months.

In contrast, the All Ordinaries Index (ASX: XAO) grew by 8.8% over the same period.

But today is proving more challenging for shareholders in this ASX All Ords media stock.

It appears the market hasn't responded warmly to the company's results for the first half of FY25 (H1 FY25) released this morning.

Shares in oOh!Media are changing hands at $1.60 apiece at the time of writing, marking a 10% dip from Friday's close.

Let's take a closer look at how the first six months of the year unfolded for the company.

Innovative advertising business

Firstly, oOh!Media is a leading player in the out-of-home (OOH) advertising sector – a channel designed to engage consumers while they're on the move.

This includes billboards, bus shelters, and digital displays in high-traffic public spaces.

And oOh!Media operates a network of more than 35,000 digital and static sites across Australia and New Zealand, spanning roadsides, shopping centres, airports, train stations, and universities.

According to the company, OOH is the fastest-growing advertising sector, having captured a record 16.5% share of agency media in H1 FY25.

Results in focus

oOh!Media appears to have unveiled a solid set of numbers for the half-year, despite today's fall in its share price.

The ASX All Ords media stock reported $336.2 million in revenue for H1 FY25 – up by 17% from the same time last year.

This growth was driven by three formats of advertising: Road, Street Format and Rail, and Fly.

Road revenue of $120.3 million jumped by 19% from the previous corresponding period. Street Format and Rail revenue grew by the same amount to clock in at $108 million. And Fly revenue soared by 43% to reach $31.8 million.

This momentum translated into higher earnings.

Adjusted gross profit climbed by 13% to $140.6 million, with new contract wins contributing about 20% of total revenue growth.

Underlying operating earnings (EBITDA) also increased by 27% to $62.2 million.

And adjusted underlying net profit after tax (NPAT) of $26.5 million lifted by 46% from the same time last year.

The board of directors declared a fully franked interim dividend of 2.25 cents per share for the half year, up by 29% from a year ago.

This stemmed from the company's strong earnings performance, improved financial position, and management's confidence in the business outlook.

oOh!Media managing director and CEO, Cathy O'Connor, said:

Out of Home remains the best performing channel in Australian media, and with our market leading portfolio of over 35,000 assets reaching 98% of metropolitan Australians weekly, we are well positioned to continue our strong momentum in a rising market.

Leadership changes

The ASX All Ords media stock will soon have a new captain steering the ship, with Cathy O'Connor set to step down after more than four years leading the company.

She will be replaced by newly appointed managing director and CEO, James Taylor, who is expected to commence his role in late 2025 or early next year.

Mr Taylor is currently the managing director of Australia's multicultural broadcaster, Special Broadcasting Service (SBS).

What next for the ASX All Ords media stock?

Looking ahead, management noted that media revenue in the third quarter of FY25 is tracking 5% higher year on year, despite a soft start to July.

The company expects to gain further market share over the remainder of the year as new assets come online, excluding retail and New Zealand.

That said, oOh!Media's share of the Australian and New Zealand OOH market edged down in H1 FY25, slipping from 35.8% to 35.4% year over year.

On the profitability front, adjusted gross margin is forecast to improve to around 44% for the full year.

Capital expenditure is anticipated to range between $53 million and $63 million, with investment priorities focused on delivering revenue growth and nailing down concession renewals.

More broadly, management expects OOH advertising to keep gaining share from other media formats.

It projects the sector to expand at a mid-to-high single-digit growth rate in H2 FY25.

The post Guess which ASX All Ords media stock is tumbling 10% today? appeared first on The Motley Fool Australia.

Macquarie just reiterated its Outperform rating on the out-of-home advertising company, with a 12-month price target of $2.00, implying an 17% total shareholder return from the current share price of $1.71.

Let's dig into why oOh!media is back in the spotlight.

A rare bright spot in traditional media

While free-to-air TV and newspapers are fighting for relevance, out-of-home (OOH) advertising is quietly staging a comeback. According to Macquarie, the OOH sector grew 18% year-on-year in 1H25, outperforming most other ad formats. For oOh!media specifically, revenue for the first half of 2025 is expected to be up 13%.

Macquarie believes that growth in this sector has been stimulated by lower interest rates which are having a flow on effect on greater ad spend. The broker is forecasting 10% revenue growth for FY25, with a solid 3-year EPS compound annual growth rate (CAGR) of 12% to follow.

The benefit of operating leverage

What makes this story even more compelling is oOh!media's cost discipline.

While top-line growth is healthy, operating costs are expected to remain flat, unlocking operating leverage. That means more of every new dollar of revenue earned should flow through to profits.

Even after losing a major contract with Auckland Transport contract (which Macquarie believes was contributing $25 million in revenue and $8million in EBITDA) the outlook remains strong.

Macquarie are forecasting a phenomenal 52% year-on-year growth for OohMedia! when it reports 1H25 results in August.

Valuation

Macquarie sees value in oOh!media's current multiple of 12.6x forward earnings, below its long-run average of 14x and also below the average for the ASX300 Industrial index. With margins expanding and free cash flow improving, there's a plausible case for a valuation re-rating.

The broker's quant model also ranks oOh!media favourably on valuation, momentum, and analyst revisions, even if quality metrics are somewhat weaker due to earnings volatility.

The Foolish bottom line

oOh!media isn't a flashy tech play or an AI darling but it's executing well in a forgotten corner of the media landscape. There is a lesson in there about being open to finding where opportunity hides across different sectors.

With strong earnings momentum, cost control, a supportive macro tailwind and a below average valuation, oOh!media could surprise to the upside.

Macquarie certainly thinks so.

The post Guess which ASX All Ords media stock Macquarie expects to rise 17% over the next 12 months? appeared first on The Motley Fool Australia.

The promising stock in question is media and advertising company oOh!Media Ltd (ASX: OML).

oOh!Media shares closed up 1.82% on Wednesday, trading for $1.68 apiece.

That sees shares in the ASX All Ords stock up 42.37% in 2025, racing ahead of the 4.15% gains posted by the All Ords over this same time.

Atop those impressive year-to-date gains, oOh!Media shares also trade on a 3.13% fully franked trailing dividend yield.

And if Macquarie has it right, oOh!Media could continue to charge ahead of the benchmark in the year ahead.

Why this ASX All Ords stock could keep charging higher

In a research report released on Monday, Macquarie's analysts sounded a positive note on the growth outlook for out-of-home advertising spending.

Noting that April's data was impacted by a boost in political advertising spending ahead of the Federal election, the broker said that Australian ad spend grew 3% year on year over the month. Ad spend was tracking at 4% growth year to date.

As for ASX All Ords listed oOh!Media, Macquarie said that out-of-home ads lead traditional media categories' performance, with 14% growth in 2025 year to date (13% growth in April).

Out-of-home ads, which encompass formats such as billboards, posters, and digital displays, now hold a market share of 16% in Australia. That's up 1.4% year on year.

According to Macquarie, "We continue to see out-of-home as a structural winner in traditional media [free to air TV, radio and print], which supports our outperform rating on oOh!Media."

The broker has a 12-month price target of $2.00 per share on that ASX All Ords stock. That represents a potential upside of 19% from yesterday's closing price. And it doesn't include those upcoming dividends.

Separately, Macquarie maintained its neutral rating on Seven West Media Ltd (ASX: SWM) shares. The broker has an 18 cent per share 12-month price target on the multimedia company, which is 16% above Wednesday's closing price.

What's the latest from oOh!Media?

The ASX All Ords media company held its annual general meeting (AGM) on 15 May.

oOh!Media chair Tony Faure opened the meeting by noting, "oOh! is well positioned for future profitable growth."

Faure added:

In a rapidly changing media landscape, the out-of-home advertising market continues to experience structural growth, even as other traditional channels face ongoing challenges.

Our network is the largest and most diverse in Australia and New Zealand, reaching over 98% of metropolitan Australians each week and comprises more than 35,000 premium assets.

The post Why Macquarie forecasts this ASX All Ords media company is set to surge 19% appeared first on The Motley Fool Australia.

Businesses with smaller market capitalisations aren't followed by as many fund managers or brokers, so there's a higher chance they're undervalued by the market.

The fund manager Wilson Asset Management (WAM) has named two companies with market capitalisations under $1 billion that look like they're mispriced opportunities. These stocks are two of the 20 largest positions inside the WAM Active Ltd (ASX: WAA) portfolio.

WAM aims to look for a catalyst that could raise the share prices of these businesses. A catalyst could be a major event that alters the market's perception of the company or its earnings (potential), sending the share price higher.

Let's get into which two ASX small-cap shares have been named as ideas.

oOh!Media Ltd (ASX: OML)

WAM described oO!Media as a leading out-of-home media company that connects businesses with public audiences.

In February, the company announced its full-year results for the 12 months to December 2024. This included total revenue of $636 million and adjusted operating profit (EBITDA) of $129 million, which was in line with the December 2024 trading update.

The fund manager explained why it's a position in the portfolio with the following:

We were pleased to see that the momentum in performance has accelerated in CY2025 to date, and oOh!media's commitment to delivering best-in-class services and assets to its clients will drive future market share.

In terms of the outlook, the company said its revenue had grown 14% in 2025 to date in February, while the first quarter media revenue grew 14% year over year. The ASX small-cap share is expecting revenue and market share growth, with further tailwinds expected from future interest rate cuts and overall market growth.

Integral Diagnostics Ltd (ASX: IDX)

WAM described this ASX healthcare share as a business that provides diagnostic services to patients.

It was noted by WAM that Integral Diagnostics recently reported its FY25 half-year result in February, which "fell short of market expectations". This led to a decline in the Integral Diagnostics share price – it dropped 31.7% last month.

The ASX small-cap share reported a statutory loss after tax of $0.4 million due to a continuing clinical staff shortage and labour costs that were higher than expected due to inflation, especially in regional Australia.

Explaining why the fund manager thinks this business is an opportunity, WAM said:            

Despite these challenges, we were pleased to see solid revenue growth and believe that the previously completed merger with Capitol Health will provide integral Diagnostics with increased scale, improving margins and driving growth in metropolitan areas.

The post 2 ASX small-cap shares to buy with big potential appeared first on The Motley Fool Australia.