Insights

Easton Investments (ASX:EAS) share price up 8%, hits 52-week high

Easton share price is charging higher today by after reporting an increase of 98% in its year-on-year profits.
The post Easton Investments (ASX:EAS) share price up 8%, hits 52-week high appeared first on The Motley Fool Australia. –

surging asx share price represented by piggy bank with rocket attached to it

Easton Investments Ltd (ASX: EAS) shares are charging higher today after the company reported an increase in its year-on-year profits. At the time of writing, the Easton share price has surged 7.89% higher to reach a new, 52-week high of $1.23.

Why has the Easton share price surged today?

The Easton share price is charging higher after the company announced its year-on-year profit has increased by 98% to $3.51 million, in the five months to 30 November. This figure is up from $1.77 million in the prior corresponding period.

Easton Investments, which owns GPS Wealth, Merit Wealth and The SMSF Expert, further reported that its Wealth Solutions division had seen a 55% rise in profits from $850,000 in 2019, to $1.31 million in the five months to 30 November this year.

Its Accounting Solutions division meanwhile, returned $2.12 million in profits for the five-month period, compared with $1.43 million at the same time last year

“Both of the company’s operating divisions, Accounting Solutions and Wealth Solutions, have reported strong revenue and earnings growth over the period, while corporate costs have remained flat,” the company said.

Cautious guidance

Despite the upbeat news, Easton remained cautious about providing a full, half-year forecast. The company advised that its final half-year results will be impacted by one-off costs associated with the proposed transaction with HUB24 Ltd (ASX: HUB)

In October, HUB24 agreed to purchase new shares in Easton Investments, while divesting its subsidiary, Paragrem, and giving the ownership to Easton.

That agreement will effectively see HUB24 become a 40% shareholder in Easton, with the combined company set to become one of Australia’s leading providers of services to accountants and financial advisers.

Easton says it expects to be in a position over the coming days to provide an update on the HUB24 transaction.

The company has also today declared a special dividend of 5 cents per share, fully franked, to be paid on 21 January 2021.

About the Easton share price

The Easton share price has increased by over 40% since the HUB24 announcement was made in October. On a year-to-date basis, Easton shares have gained around 30%, today reaching a new 52-week high.

The company commands a market capitalisation of $39 million.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Eddy Sunarto has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Hub24 Ltd. The Motley Fool Australia has recommended Hub24 Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Easton Investments (ASX:EAS) share price up 8%, hits 52-week high appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!