The S&P/ASX 200 index returned to form on Wednesday and charged 0.4% higher after investor sentiment improved following positive trade war developments.
A good number of shares pushed higher with the market, but some made bigger strides than others. Three that climbed to all-time highs on Wednesday are listed below. Here’s why they are flying high:
The CSL Limited (ASX: CSL) share price raced to an all-time high of $235.66 on Wednesday following the release of its full year result. In FY 2019 the biotherapeutics giant posted revenue of US$8,539 million and net profit after tax of US$1,919 million. This was an 11% and 17% year on year increase, respectively, in constant currency. Pleasingly, management expects the solid growth to continue in FY 2020 and has provided net profit after tax growth guidance of 7% to 10%. It is worth noting that this guidance includes the one-off financial headwind of transitioning to a new model of direct distribution in China.
The IDP Education Ltd (ASX: IEL) share price continued its impressive run and surged to an all-time high of $19.84 yesterday. This gain means the international student placement services company’s shares have now doubled in value since the start of the year. Investors have been fighting to get hold of its shares following an impressive first half performance and expectations of another blockbuster full year result. IDP Education is due to the report its earning next week.
The REA Group Limited (ASX: REA) share price maintained its winning streak and rose to an all-time high of $105.74 on Wednesday. Although the property listings company’s second half of FY 2019 was not the strongest and the first half of the new financial year is expected to be soft, investors have looked beyond this and focused on its solid long term growth potential. I think this is a smart move and believe its shares could generate above average returns over the next five years thanks to the improving housing market, price increases, new revenue streams, and its international operations.
Looking for the next shares to race higher? My money would be on these top growth shares which have been tipped as market-beaters.
You’re invited! For a limited time, The Motley Fool Australia is giving away an urgent new investment report detailing our 3 TOP BLUE CHIP SHARES to own in 2019.
So if you like trustworthy, stable, high-performing companies that pay fat fully franked dividends – we’ve got you covered!
Stock #1 is a beloved old Australian company turning its attention to high-margin businesses... and rapidly returning cash to shareholders with its hefty dividend...
While Stock #2 is an online powerhouse that’s rapidly gaining market share all around the globe... poised for years (or even decades) of tremendous growth...
Even better, Stock #3 offers a whopping 6.5% grossed-up dividend! Which beats the rates on term deposits right out of the water – and offers the potential for capital gains, too.
You can discover all three shares inside our new report right now. To scoop up your FREE copy, simply click the link below right now. But you will want to hurry – this free report is available for a LIMITED TIME ONLY!
- NEW: Free report names top 3 ASX dividend shares to buy for 2019
- Top analysts name their top 3 ASX blue chip shares for 2019
- Richest man alive issues dire warning
- 3 quality dividend shares to boost your income
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has recommended REA Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019