The company is a global packaging and distribution business.

Investors were heavily exiting their positions in Orora shares following the release of a trading update. 

Most notably, the update included a downgrade to earnings expectations for its Saverglass business.

According to the release, Orora now expects FY 2026 underlying EBIT for Saverglass to be in the range of 63 million euros to 68 million euros. This is down from previous guidance of broadly in line with FY 2025 EBIT of 79.2 million euros.

On a reported basis, EBIT is expected to fall further to between 52 million euros and 59 million euros.

Orora shares fell 25% across Thursday and Friday last week following the announcement. 

Its share price is now down approximately 33% in 2026. 

Middle East conflict weighing heavily on sentiment 

According to new guidance out of Morgans, the Middle East conflict has affected operations both directly and indirectly: directly through the effective closure of ORA's Ras Al Khaimah (RAK) facility in the UAE, and indirectly through lower spirits volumes and an adverse product-mix shift, which have weighed on earnings. 

As a result, the broker has adjusted FY26/27/28F underlying EBIT by -8%/-11%/-10% for this ASX materials stock.

Given the ongoing uncertainty surrounding the conflict in the Middle East, visibility on the timing of a potential restart at the RAK facility remains limited. In addition, global consumer confidence and spirits demand have already been negatively affected by the conflict and may remain subdued for some time, even in the event of a near-term resolution.

Target price decreases – opportunity elsewhere says Morgans

Based on this guidance, Morgans reduced its price target to $1.55 (previously $2.30) for this ASX materials stock.

It maintained its hold rating. 

From last week's closing price of $1.48, this price target indicates an upside of roughly 5%. 

The broker also noted that there is better opportunity elsewhere within the sector. 

Given this uncertainty, we believe it is prudent to await further updates before reassessing our view. Within the Packaging sector, our preference remains Amcor PLC (ASX: AMC).

The broker has a buy recommendation and $76.00 price target on Amcor shares. 

This indicates approximately 30% upside from its current stock price of $58.28. 

The post What's this broker's updated view on this ASX materials stock following a 25% fall? appeared first on The Motley Fool Australia.

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

ASX 200 expected to jump

The Australian share market looks set for a strong start to the week despite a mixed finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 70 points or 0.75% higher. In the United States, the Dow Jones was down 0.55%, the S&P 500 dropped 0.1%, and the Nasdaq rose 0.35%.

Oil prices ease

It could be a subdued start to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices eased on Friday night. According to Bloomberg, the WTI crude oil price was down 1.23% to US$96.57 a barrel and the Brent crude oil price was down 0.75% to US$112.57 a barrel. This may have been driven by optimism over peace talks between the US and Iran.

Dividends being paid

A couple more ASX 200 shares will be rewarding their shareholders with dividend payments on Monday. This includes hearing solutions company Cochlear Ltd (ASX: COH) and auto listings giant CAR Group Limited (ASX: CAR). They will be paying partially franked dividends of $2.15 per share and 42.5 cents per share, respectively, later today.

Gold price slides

ASX 200 gold shares including Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a soft start to the week after the gold price fell on Friday night. According to CNBC, the gold futures price was down 0.65% to US$4,787.4 an ounce. This may also have been driven by news of peace talks between the US and Iran.

Hold Orora shares

Morgans isn't a buyer of Orora Ltd (ASX: ORA) shares despite their heavy decline last week. The broker has retained its hold rating with a heavily reduced price target of $1.55 (from $2.30). It prefers fellow packaging company Amcor (ASX: AMC) and has a buy rating and $76.00 price target on its shares. It said: "Given the ongoing uncertainty surrounding the conflict in the Middle East, visibility on the timing of a potential restart at the RAK facility remains limited. In addition, global consumer confidence and spirits demand have already been negatively affected by the conflict and may remain subdued for some time, even in the event of a near-term resolution. Given this uncertainty, we believe it is prudent to await further updates before reassessing our view. Within the Packaging sector, our preference remains Amcor (AMC, BUY, $76.00 TP)."

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

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

Beetaloo Energy Australia Ltd (ASX: BTL)

The Beetaloo Energy share price is down 13% to 30 cents. This has been driven by the energy company completing a $66.3 million placement this morning. These funds were raised at 28 cents per new share, which represents an 18.8% discount to its last close price. The company's managing director, Alex Underwood, commented: "This Placement marks a pivotal moment for Beetaloo Energy. The participation by existing and new investors reflects genuine conviction in the potential scale of our Beetaloo Basin acreage and projects in the Northern Territory. […] we are now fully funded through to first pilot gas sales expected in Q4 2026, a milestone that we believe will be transformational for Beetaloo Energy and for Australia's domestic gas supply."

Fortescue Ltd (ASX: FMG)

The Fortescue share price is down 2% to $20.09. This is despite the mining giant announcing that it is accelerating the delivery of the world's first industrial and fully integrated green energy grid. This grid is dedicated to eliminating fossil fuels from large-scale industry, at a scale comparable to a city. It expects implementation to ramp up within two years. It also confirmed that it expects to save US$100 million in fossil fuel costs by next year, and at the completion of its decarbonisation program, expects to see a further reduction in C1 unit costs of at least US$2 to US$4 per wet metric tonne. It believes this demonstrates that eliminating fossil fuels is not only achievable, but economically superior.

Orora Ltd (ASX: ORA)

The Orora share price is down a further 7% to $1.50. This packaging company's shares have been sold off this week following the release of a trading update. Partly due to the war in the Middle East, Orora's Saverglass has been underperforming expectations. Management now expects FY 2026 underlying EBIT for Saverglass to be in the range of 63 million euros to 68 million euros. This is down from its previous guidance of broadly in line with FY 2025 EBIT of 79.2 million euros. The company notes that shipping routes and overland access have been disrupted in the Middle East, forcing Orora to transition its facility into a closed-loop hot operation.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price is down 5.5% to $7.93. This morning, this coal miner announced a new US$600 million senior secured syndicated facility. It comes with a tenor of 4.5 years consisting of a US$475 million term loan and a US$125 million revolving credit facility. Whitehaven's CEO, Paul Flynn, said: "With Whitehaven's strengthened credit profile and successful integration – and initial improvements – of the Daunia and Blackwater metallurgical coal operations, we are focused on refinancing our acquisition credit facility and establishing a capital structure with more diverse, longer tenor and lower cost debt facilities."

The post Why Beetaloo, Fortescue, Orora, and Whitehaven Coal shares are dropping today appeared first on The Motley Fool Australia.

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

Orora Ltd (ASX: ORA)

The Orora share price is down 20% to $1.57. Investors have been selling this packaging company's shares following the release of a trading update. Partly due to the war in the Middle East, Orora's Saverglass has been underperforming expectations. Orora now expects FY 2026 underlying EBIT for Saverglass to be in the range of 63 million euros to 68 million euros. This is down from its previous guidance of broadly in line with FY 2025 EBIT of 79.2 million euros. It notes that shipping routes and overland access have been disrupted in the Middle East, forcing Orora to transition its facility into a closed-loop hot operation. This means the furnace is kept running, but no bottles are produced.

Select Harvests Ltd (ASX: SHV)

The Select Harvests share price is down 8% to $3.69. This morning, this almond producer revealed the surprise resignation of its CEO, David Surveyor, after three and a half years leading the company. The release notes that Mr Surveyor will remain with the company to work through his six-month notice period and assist with an orderly transition. Surveyor commented: "It has been a privilege to lead Select Harvests over the past three years. I am proud of the transformation we have achieved together. Our people have lifted strategy and execution across the business, from improving our horticultural practices to step changing our processing capability and redefining our approach to market."

Tamboran Resources Corp (ASX: TBN)

The Tamboran Resources share price is down 17.5% to 26 cents. This has been driven by the completion of the institutional component of an equity raising. The natural gas company has raised US$103 million (A$147.1 million) of gross proceeds via a registered underwritten public offer. Tamboran Resources' CEO, Todd Abbott, said: "We are entering what will be the most active two‑year period in the Beetaloo Basin to date, including the delivery of first gas sales in the third quarter of 2026 and the continued delineation of gas resources across our Beetaloo East and Beetaloo West acreage."

WiseTech Global Ltd (ASX: WTC)

The WiseTech Global share price is down 10% to $38.92. This is despite there being no news out of the logistics solutions software provider on Thursday. However, it is worth noting that the tech sector is a sea of red today, with heavy declines being seen across the board. This has led to the S&P/ASX All Technology index dropping a sizeable 4.5%.

The post Why Orora, Select Harvests, Tamboran, and WiseTech shares are sinking today appeared first on The Motley Fool Australia.

At the time of writing, the ASX 200 share is down 16% to $1.63.

Why is this ASX 200 share sinking today?

Investors have been selling the packaging company's shares following the release of a trading update, which included a downgrade to earnings expectations for its Saverglass business.

According to the release, Orora now expects FY 2026 underlying EBIT for Saverglass to be in the range of 63 million euros to 68 million euros. This is down from previous guidance of broadly in line with FY 2025 EBIT of 79.2 million euros.

On a reported basis, EBIT is expected to fall further to between 52 million euros and 59 million euros.

Middle East conflict weighing on earnings

Management highlighted that the downgrade reflects both direct and indirect impacts from the ongoing Middle East conflict.

Directly, the company expects a 9 million euro to 11 million euro hit to second half earnings due to disruptions at its Ras al Khaimah (RAK) facility in the United Arab Emirates.

Shipping routes and overland access have been disrupted, forcing Orora to transition the facility into a closed-loop hot operation. This means the furnace is kept running, but no bottles are produced.

The RAK facility accounts for approximately 15% of Saverglass production capacity, with output now expected to shift to Mexico over time.

Softer demand and mix shift

In addition to the direct impact, Orora flagged weaker-than-expected trading conditions.

The company said volumes are now expected to be lower than previously forecast, with a shift in product mix also weighing on margins.

Specifically, there has been a greater-than-anticipated shift toward wine and champagne relative to premium spirits, alongside softer customer demand following the onset of the conflict.

This combination is expected to reduce earnings by a further 11 million euros to 16 million euros in the second half.

Other impacts

The ASX 200 share also noted that inventory levels have increased due to slower customer offtake and rising competitive pressures.

In response to the uncertainty, the company has decided to pause its on-market share buyback program while it monitors the situation.

Nevertheless, despite these challenges, management emphasised that the company's balance sheet remains strong, with leverage expected to stay below 1.5 times by June 2026.

The post Why is this ASX 200 share sinking 16% today? appeared first on The Motley Fool Australia.

What did Orora report?

• FY26 Saverglass underlying EBIT (€) expected at €63m–€68m (down from €79.2m in FY25)
• FY26 reported EBIT (€) for Saverglass now forecast at €52m–€59m
• Direct 2H26 EBIT impact from Middle East conflict: €9m–€11m
• Indirect 2H26 EBIT impact due to weaker volumes and negative mix: €11m–€16m
• No change to existing FY26 guidance for Cans or Gawler divisions
• Leverage ratio expected to remain below 1.5x at June 2026

What else do investors need to know?

The Ras al Khaimah (RAK) facility in the UAE is safe and undamaged, but production has shifted to a closed-loop 'hot' mode due to shipping and overland route closures. Orora assures all team members are accounted for and safety is the top priority.

Production from the RAK facility, representing about 15% of Saverglass capacity, will be shifted to Mexico for the North American market, with bottle moulds transported to the Acatlán facility. Orora has paused its on-market buyback while monitoring the conflict's ongoing impacts.

What's next for Orora?

Orora continues to monitor the Middle East situation and remains committed to safety and operational continuity. Shifting production from the RAK facility to Mexico is expected to help maintain supply for key customers, with mitigation strategies aiming to reduce energy cost pressures.

The company retains a strong balance sheet and expects leverage to stay below 1.5x by the financial year-end. The paused buyback may resume once there is greater certainty around external risks.

Orora share price snapshot

Over the past 12 months, the Orora share price has risen 16%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 21% over the same period.

View Original Announcement

The post Orora updates FY26 outlook as Saverglass earnings take a hit appeared first on The Motley Fool Australia.

ASX All Ords shares have risen 1.7% over the week as more companies revealed strong earnings results and dividends.

Next week, a large group of ASX shares go ex-dividend. We provide a sample of these stocks below.

To pick up a dividend payment, you must own the share before the ex-dividend date.

ASX shares about to go ex-dividend

Here are 16 ASX shares going ex-dividend next week.

Which companies are reporting next week?

According to the calendar, we will hear from Adairs Ltd (ASX: ADH), Ampol Ltd (ASX: ALD), and Nib Holdings Ltd (ASX: NHF) on Monday.

On Tuesday, ARB Corporation Ltd (ASX: ARB), Woodside Energy Group Ltd (ASX: WDS), and Monadelphous Group Ltd (ASX: MND) are up.

On Wednesday, we'll get reports from Bapcor Ltd (ASX: BAP), Domino's Pizza Enterprises Ltd (ASX: DMP), and Fortescue Ltd (ASX: FMG).

Light & Wonder Inc (ASX: LNW), Wisetech Global Ltd (ASX: WTC), and Woolworths Group Ltd (ASX: WOW) will also report on Wednesday.

On Thursday, Karoon Energy Ltd (ASX: KAR), Monash IVF Group Ltd (ASX: MVF), and Qantas Airways Ltd (ASX: QAN) will release their earnings.

Ramsay Health Care Ltd (ASX: RHC), Super Retail Group Ltd (ASX: SUL), and Worley Ltd (ASX: WOR) will also be in the spotlight.

On Friday, we'll see reports from Coles Group Ltd (ASX: COL), Star Entertainment Group Ltd (ASX: SGR), and TPG Telecom Ltd (ASX: TPG).

The post 16 ASX shares going ex-dividend next week appeared first on The Motley Fool Australia.

The question is, will the share price hold up or has it got a bit ahead of itself?

Let's look at the results first. The bottle and packaging maker posted a first-half net profit of $58.9 million, up $58.7 million from what was effectively a breakeven position for the same period last year.

This was achieved on revenue of $1.12 billion, up 9.7%.

Orora Managing Director Brian Lowe said it was a "robust operating result for the first half of FY26, underpinned by disciplined execution".

He added:

In line with our full year guidance, we achieved EBITDA growth across all businesses, reflecting the strength of our operating platform and the benefits of our recent investments and business optimisation actions. Market dynamics and trading conditions vary across Orora's business segments. Favourable market dynamics in Cans, including the continued consumer preference shift to aluminium and growth in new beverage categories, has supported 11.2% volume growth. Despite softness in premium spirits and wine, disciplined execution supported performance across glass, with Saverglass volumes up 2.6% in the first half primarily driven by tequila and vodka categories.

Mr Rowe said the company was maturing from a high capital expenditure phase to one defined by more cash generation.

So, what do analysts think?

The team at Barrenjoey said the earnings were in line with expectations, and that key full-year guidance was reiterated.

But they believe there are headwinds ahead, noting:

Going forward, we believe performance in Saverglass will drive the share price given the division has the widest range of earnings outcomes and represents roughly half of Orora's enterprise value. Fundamentally, we think it will be difficult for Saverglass to grow earnings at the rate consensus expects unless alcohol trends improve materially to support sales volume and pricing power. Cost management in Saverglass has been a key focus since the acquisition and will need to continue if our cautious view on alcohol consumption persists.

The Barrenjoey team has a price target of $2 on Orora shares, compared with the current share price of $2.17.

The team over at Macquarie were more positive on the stock, with an outperform rating and a $2.45 price target.

They said regrading the result that, "no bad news was good news", and it was good to see Saverglass volumes growing.

They said there were more positives than negatives out of the half year report and the "worst appears to have passed for Saverglass and cost out initiatives increase leverage to recovery''.

The new buyback announced on Thursday will purchase up to 10% of the company's stock on issue.

The post Are Orora shares a buy following their half-year results? appeared first on The Motley Fool Australia.

The bottle and packaging maker posted a first-half net profit of $58.9 million, up $58.7 million from what was effectively a breakeven position for the same period last year.

This was achieved on revenue of $1.12 billion, up 9.7%.

Steady as she goes

Orora Managing Director Brian Lowe said it was a "robust operating result for the first half of FY26, underpinned by disciplined execution''.

He added:

In line with our full year guidance, we achieved EBITDA growth across all businesses, reflecting the strength of our operating platform and the benefits of our recent investments and business optimisation actions. Market dynamics and trading conditions vary across Orora's business segments. Favourable market dynamics in Cans, including the continued consumer preference shift to aluminium and growth in new beverage categories, has supported 11.2% volume growth. Despite softness in premium spirits and wine, disciplined execution supported performance across glass, with Saverglass volumes up 2.6% in the first half primarily driven by tequila and vodka categories.

Mr Lowe said the company was moving from a phase defined by high capital expenditure to a cash generation phase.

He added:

At a group level, with strength in our operating cashflow, cash realisation and balance sheet, and with the major cans capacity expansion completing in FY26, Orora can continue to make meaningful shareholder returns through regular dividends and an ongoing on‑market buy‑back. We enter the second half with confidence and a clear execution agenda.

The company said on Thursday that its previous share buyback had bought back $227.4 million worth of shares, or 8% of the issued capital in the company.

Orora has announced it will refresh that share buyback to purchase up to another 10% of the company's stock, worth about $270 million.

The company said regarding the outlook, it remained largely unchanged, with growth in EBITDA and cash flow expected for all business units.

Orora shares surged on the news, trading 8.6% higher at $2.39.

Jarden analysts had a look at the results and said in a note to clients on Thursday that it was "better than feared".

They said the earnings were largely in line with consensus, while core earnings per share were slightly ahead of consensus.

Orora will pay an unfranked interim dividend of 5 cents per share, in line with the same period last year.

The post Orora shares hit a fresh 12-month high as new buyback announced appeared first on The Motley Fool Australia.

What did Orora report?

• Underlying net profit after tax (NPAT) of $77.8 million, up 32.2% on the prior period
• Revenue rose 9.7% to $1,127.6 million
• Group EBITDA increased 14.4% to $218.2 million
• Earnings per share up 40.6% to 6.2 cents
• Interim dividend steady at 5.0 cents per share (79% payout ratio)
• Operating cash flow soared 50.9% to $189.7 million; cash realisation 112.4%

What else do investors need to know?

Orora's Cans business recorded strong volume growth of 11.2%, supported by new capacity and a continued shift in consumer preference toward aluminium. Revenue in this segment jumped 18.6%, and investments in capacity expansion—like the Revesby Line 2—helped meet elevated demand, especially from Queensland customers.

For the Glass division, the Saverglass business saw a 2.6% lift in volumes, mostly driven by tequila and vodka bottles, while Gawler managed a modest revenue increase. The company also pushed ahead with sustainability initiatives, aiming for significant reductions in greenhouse gas emissions and increasing recycled content across its packaging products.

A major on-market share buyback underpinned returns to shareholders, with 47.6 million shares repurchased for $100.7 million in 1H26. Orora announced the intention to buy back up to a further 10% of issued shares.

What did Orora management say?

Brian Lowe, Managing Director and Chief Executive Officer said:

Orora has delivered a robust operating result for the first half of FY26, underpinned by disciplined execution. In line with our full year guidance, we achieved EBITDA growth across all businesses, reflecting the strength of our operating platform and the benefits of our recent investments and business optimisation actions.

What's next for Orora?

Orora's outlook for FY26 remains positive, with the company expecting higher EBIT from its Cans business and further volume growth driven by customer demand and completed expansion projects. Saverglass' annual EBIT is expected to be steady in local currency, with cost savings and improving order trends supporting the second half.

For Gawler, EBIT is forecast around $30 million, offset by higher depreciation from recent investments. Across the group, cash flow is anticipated to improve as major capital projects wind down, allowing more funds to be returned to shareholders through dividends and ongoing buybacks.

Orora share price snapshot

Over the past 12 months, Orora shares have declined 6%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 6% over the same period.

View Original Announcement

The post Orora earnings: robust half-year profit growth and outlook appeared first on The Motley Fool Australia.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

For both of the majors, Amcor Plc (ASX: AMC) and Orora Ltd (ASX: ORA), they are projecting better than 25% returns.

Let's look at Amcor first.

Takeover integration

The big news for Amcor over the past year has been its $8.4 billion merger with Berry Global, which was expected to deliver $650 million in synergies for the merged group.

Amcor said in April last year that it expected earnings per share accretion of 12% in FY26 from the synergies alone, with total earnings per share accretion growing to more than 35% by the end of FY28.

The Jarden team said in a research note to clients this week that, "following a period of Berry merger integration, investors are looking for signs that the Amcor business is delivering to expectations''.

The Jarden team said there were headwinds for the company, saying "evidence has emerged that customer and industry volumes have deteriorated''.

They added:

Amcor has guided to relatively flat volumes on the prior year in FY26, which seems ambitious given volumes were down in the low single digits in 1Q26 and we have seen further deterioration in customer results and commentary since then. Notwithstanding this, Amcor seems likely to flex cost and synergy levers as it attempts to reassure investors.

Jarden has a target price of $80.20 for Amcor shares, and once the 5.9% dividend yield is factored in, they project a total shareholder return of 29.6% over 12 months.

Plenty of room to improve

Meanwhile, over at Orora, Jarden said there are "very low expectations'' for the company, particularly on the earnings outlook for its Saverglass division.

Much has been made about the weakness of end demand and soft retail ⁄ customer volumes, and an ongoing debate we encounter is whether this is cyclical or a structural shift in demand for alcohol generally. Near term, we think this misses the point, especially as Orora cycles destocking from the prior ~18 months. Australian cans demand has likely remained strong and we look for delivery in line with expectations for Gawler.

Jarden said there are "no balance sheet concerns" for the company, and with "a path to improving free cash generation and potentially capital management from FY27, we see an attractive combination of catalysts for investors''.

Jarden has a $2.60 price target on Orora shares, which, combined with the 4.9% dividend, would represent a total shareholder return of 27.4% if achieved.

The post These two packaging majors are tipped to return better than 25% appeared first on The Motley Fool Australia.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

This hasn't gone unnoticed by the team at Macquarie Group Ltd (ASX: MQG).

So much so, the broker has run its takeover screen to see if there are any takeover candidates in the current market.

Macquarie points out that after re-running its takeover screen from five years ago, it found that 46% of the 37 stocks it identified had some form of M&A. It feels that this gives its screening process some merit. It explains:

With the offer for AUB plus media reports of PE interest in DMP, we have re-run our takeover screen from 2020. Looking back at the original, there were 37 stocks on the list and 46% had some sort of M&A (9 completed takeovers, 6 failed or pending, and 2 strategic stakes acquired), so the screen has merit. In our view, we are in an environment conducive to deals as the market is near its highs, credit spreads are tight and confidence in the outlook is improving. Our FOMO Meter is back up to +0.98, marking the strength of equity sentiment.

Which ASX stocks could be takeover targets?

According to the note, Macquarie has identified 16 ASX stocks that it believes could be attractive options for private equity and other suitors.

And from these, there are 11 ASX stocks in particular that standout.

These are pizza chain operator Domino's Pizza Enterprises Ltd (ASX: DMP), pharmaceutical products distributor EBOS Group Ltd (ASX: EBO), Dan Murphy's owner Endeavour Group Ltd (ASX: EDV), language testing company IDP Education Ltd (ASX: IEL), poultry producer Inghams Group Ltd (ASX: ING), intellectual property services provider IPH Ltd (ASX: IPH), packaging company Orora Ltd (ASX: ORA), Smiggle owner Premier Investments Ltd (ASX: PMV), hospital operator Ramsay Health Care Ltd (ASX: RHC), plumping parts company Reliance Worldwide Corporation Ltd (ASX: RWC), and healthcare company Sonic Healthcare Ltd (ASX: SHL).

Other candidates are Australian Clinical Labs Ltd (ASX: ACL), James Hardie Industries plc (ASX: JHX), Reece Ltd (ASX: REH), Spark New Zealand Ltd (ASX: SPK), and Viva Energy Group Ltd (ASX: VEA).

Commenting on the stocks, the broker said:

The result is 16 stocks. Of these, the forward PE is >1 standard deviation below the 10-year average for 11 stocks. Ranked by how far they are below their highs, they are IEL, DMP, IPH, RHC, PMV, EDV, ING, ORA, EBO, SHL and RWC. Two (RHC, ORA) already had failed takeover offers in recent years, while others have been the subject of takeover speculation. Based on the performance of the takeover screen from 2020, we would be surprised if none of the stocks on the list is the subject of takeover interest in the next year.

The post Macquarie names 16 potential ASX takeover targets appeared first on The Motley Fool Australia.

That's because the team at Macquarie Group Ltd (ASX: MQG) believes it could generate market-beating returns over the next 12 months.

Which ASX 200 stock?

The stock that Macquarie is bullish on is packaging company Orora Ltd (ASX: ORA).

According to the note, the broker was pleased to see the company reiterate its guidance at this week's annual general meeting. This is being supported by a strong performance from its cans business. It said:

Cans remains the bright spot. We fct cans vols +4% in FY26, in line with LTA along with benefit from Revesby expansion partially offset by higher allocated corp costs. We fct 4% cans EBIT growth in FY26E, accelerating to 10% in FY27E.

Macquarie also highlights that the Saverglass business is performing largely in line with expectations. Though, a large second half skew is expected. The broker adds:

Saverglass (SG) 1Q vols in line with pcp (FY25 vols -12%) with continuation of adverse product mix re wine/champagne (ORA has pursued growth in latter which has lower rev/t vs spirits). FY SG EBIT guidance for flat EBIT is unchanged (this on constant ccy basis hence 1H should see benefit from lower A$). However there's a skew to 2H with lower 1H EBIT vs pcp and stronger expected in 2H due to timing of cost actions from Le Havre closure (=€9m benefit over two years) and modestly higher vols (we fct +2% in 2H26).

Big potential returns

In response to the ASX 200 stock's trading update at its annual general meeting, Macquarie has reaffirmed its outperform rating with a trimmed price target of $2.35 (from $2.40).

Based on the current Orora share price of $2.01, this implies potential upside of 17% for investors over the next 12 months.

In addition, the broker is forecasting a 4.7% dividend yield in FY 2026. This boosts the total potential return to over 21%.

Macquarie thinks investors should be buying this ASX 200 stock while it is undervalued. Particularly given how its free cash flow is expected to improve now that it has move on from its peak capex spend. It concludes:

O/P $2.35 TP. Share price expectations for ORA are relatively low, so FY guidance reiteration was positive in that context albeit with a slightly bigger skew for SG. ORA's free cash flow is set to improve from here as move past peak capex, while buybacks are supportive in the near term.

The post Macquarie predicts a 20%+ return from this ASX 200 stock appeared first on The Motley Fool Australia.

At the company's annual general meeting held on Wednesday, 48.38% of the votes cast were against the adoption of the remuneration report.

Under Australian Corporate law, a vote of 25% or more against is considered a first strike.

If a company racks up two strikes in a row, a vote must then be held on whether to either spill the board or retain the company's directors.

There was also a sizeable protest vote against the incentive package for the company's managing director, Brian Lowe, with 11.46% of votes cast going against that resolution.

Trading not up to scratch

Orora chair Rob Sindel acknowledged the large protest vote against the remuneration report, and also that the company's Saverglass division was performing below expectations.

Orora took over Saverglass in late 2023, in a $2.16 billion deal funded with $1.35 billion in new debt and equity.

The company bought the French company from private equity firm Carlyle, with Saverglass focused on high-end wine and spirits bottles for the global market.

Mr Sindel said the past financial year had been a period of "transformation" for Orora, as it integrated Saverglass into the company and reorganised the company into three regions.

During the period, Orora also sold its packaging solutions and closures business.

These strategic changes were major milestones in our history, completing the realignment of our portfolio that began with the sale of the Fibre business in 2020 and the transformational acquisition of Saverglass in 2023. Having said that, the performance of Saverglass has not met expectations in our first 18 months of ownership. Demand was softer than forecast, however we are confident the changes we are making both here, in Australia and globally will ensure the future success of our glass business.

Outlook looking up

Mr Sindel said the company was now well-placed with strong market positions in the Australasian cans market and the global premium glass market, and with no new acquisitions expected in the near to medium term, "we remain committed to disciplined capital management''.

This, combined with our strong balance sheet, positions us well for ongoing shareholder returns, through dividends and our on-market buyback program.

Mr Sindel acknowledged shareholder concerns with the remuneration report but defended the company's remuneration settings, stating that the sale of one of the company's North American businesses during the year was "highly successful" and warranted a reward for executives.

As a board we are confident that the changes made to remuneration ensured that incentive plans remain relevant, fair, and aligned with the ongoing business, so that executives are neither unfairly advantaged nor disadvantaged through structural changes.

Orora shares closed steady at $2.02 on Wednesday.

The post Orora shareholders voice their frustration, delivering a brutal vote against remuneration report appeared first on The Motley Fool Australia.

The $2.7 billion company touts itself as a "global leader" in the design and manufacture of glass bottles and aluminium cans, with significant manufacturing sites across Australia, New Zealand, and the world.

In August, the company reported a 9.5% increase in earnings before interest and tax to $262.1 million for the full year, and managing director Brian Lowe said Orora was entering the current financial year with "cautious optimism".

With demand for cans remaining strong, we continued to invest in our cans capacity expansion program which will allow us to service expected customer demand to at least 2030. In response to reduced demand across the global glass packaging industry, we took decisive action to review the production capacity of our glass business and adjust our network, with the resizing of our Gawler facility in Australia and our Le Havre facility in France.

Shares looking cheap

Macquarie analysts said the glass division was "past the worst", while the outlook for the cans division was positive.

They said the Orora balance sheet was "robust", which was an enabler for ongoing share buybacks, and with capital expenditure requirements reducing, free cash flow would improve "meaningfully" from this financial year onwards.

"Orora has long-term value potential, and the market has been reminded of this over [the] past 12 months'', Macquarie analysts said.

They also noted there was the potential for corporate interest given the company's depressed share price.

Macquarie has a price target of $2.40 on the stock compared with the current price of $2.09, and an outperform rating.

The post Glass half full as double-digit returns tipped for major bottle maker appeared first on The Motley Fool Australia.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

ASX 200 shares are currently down 0.34% to 8,988.6 points.

As the August reporting season continues, millions of dollars in dividends are beginning to flow into investors' bank accounts.

To receive an ASX share's dividend, you must buy or already own the stock before its ex-dividend day, which is typically one business day before the record date.

The record date is the day a company reviews its shareholder register to determine who is entitled to receive the next dividend.

Next week, a huge number of stocks will go ex-dividend. We provide a sample of ASX 200 shares going ex-dividend below.

If you want to buy any of these ASX 200 shares while they are trading cum dividend, time is now critical.

16 ASX shares about to go ex-dividend

Which companies are reporting next week?

Next Monday, 25 August, we'll hear from Ansell Ltd (ASX: ANN), Bendigo and Adelaide Bank Ltd (ASX: BEN), Endeavour Group Ltd (ASX: EDV), Fortescue Ltd (ASX: FMG), Pilbara Minerals Ltd (ASX: PLS), and Santos Ltd (ASX: STO).

On Tuesday, we'll see the latest numbers for ASX 200 supermarket share, Coles Group Ltd (ASX: COL).

Wednesday is a big day with Domino's Pizza Enterprises Ltd (ASX: DMP), Flight Centre Travel Group Ltd (ASX: FLT), Lovisa Holdings Ltd (ASX: LOV), Sigma Healthcare Ltd (ASX: SIG), Woolworths Group Ltd (ASX: WOW), and WiseTech Global Ltd (ASX: WTC) releasing results.

On Thursday, we'll see reports from Medibank Private Ltd (ASX: MPL), Mineral Resources Ltd (ASX: MIN), Qantas Airways Ltd (ASX: QAN), Ramsay Health Care Ltd (ASX: RHC), Sandfire Resources Ltd (ASX: SFR), South32 Ltd (ASX: S32), and Wesfarmers Ltd (ASX: WES).

Friday will bring the latest numbers for ASX 200 property share PEXA Group Ltd (ASX: PXA), and Steadfast Group Ltd (ASX: SDF).

The post 16 ASX 200 shares going ex-dividend next week appeared first on The Motley Fool Australia.