ANZ Group (ANZ.AX) Stock Indicates Increased Trading Volume

Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.

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ANZ Group (ANZ.AX) stock price showing quite good trading volume with an upside ride with a 2.82% of price weekly price rise. The stock dropped 0.16% last Friday but still showed quite good upside sentiments. Notably, the 52-week price range of ANZ stock was between 22.21 AUD to 26.08 AUD. According to Yahoo Finance,  the US-based business news platform, 30.43% of shares of ANZ Group Holdings Limited are held by institutions.

ANZ Stock Price Analysis

According to TradingView, a web-based social network for traders, on July 21, 2023, Friday’s trading session, ANZ stock price closed at 25.16 AUD, whereas at press time on July 24, 2023, Monday’s trading session, the stock opening price is at 25.12 AUD. As the below chart shows the current price performance of ANZ stock shows the dominance of active bears in the market.

The analysts have set their 1-year price target at 25.58 AUD which is 1.83% up from the last closing price of ANZ stock. Meanwhile, the analysts have set the maximum price estimate at 29.00 AUD while the minimum estimate is 21.50 AUD. In the past 3-months, they have also given a “buy” rating to ANZ Group Holdings Limited.

The Fundamentals of ANZ Group

ANZ Group Holdings Limited (ANZ.AX), a non-operating holding company, has a market cap of nearly 75.50 Billion AUD. The total revenue of the company for the last semiannual, H1 2023, is 24.96 Billion AUD, it’s 52.17% higher compared to the previous semiannual. 

Whereas, the net income of H1 23 is 3.55 Billion AUD. Its last dividend per share was 0.81 AUD and as of now, Dividend Yield (TTM)% is 6.16%.

ANZ Group’s earnings per share (EPS) for the last semiannual are 1.21 AUD whereas the estimation was 1.22 AUD which accounts for a negative 0.52% surprise. Additionally, the revenue for the same period amounts to 10.53 Billion AUD despite the estimated figure of 10.57 Billion AUD. 

Now, for the next semiannual, H2 2023, the estimated EPS is 1.15 AUD, and revenue is expected to reach 10.49 Billion AUD.

In 2022, the revenue of ANZ Group Holdings Limited amounted to 18.55 Billion AUD. Most of which: 6.15 Billion AUD came from its highest performing source at the moment, Australian Retail. Notably, the greatest contribution to the revenue figure was made by Australia which last year brought it to 12.46 Billion AUD.

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