Tyro shares are rallying to year-to-date highs.
The post Here’s why the Tyro (ASX:TYR) share price is leaping 5% today appeared first on The Motley Fool Australia. –
The Tyro Payments Ltd (ASX: TYR) share price is a top performer today, rallying 5.87% to $3.97.
What’s lifting the Tyro share price on Monday?
Weekly COVID-19 trading update
Tyro has been providing weekly transaction value updates since March 2020. This measure was introduced to provide transparency as to the impact of COVID-19 on its EFTPOS machines business.
This week’s update highlighted a 28% increase in date-on-date transaction values to 3 September of $219 million.
While September year-to-date figures were up 23% to $4.579 billion.
Tyro’s transaction value has remained buoyant despite prolonged lockdowns taking place across Victoria and New South Wales.
Tyro joins the ASX 200
S&P Dow Jones Indices announced a rebalance on Friday 3 September. The rebalance will be effective before market open on 20 September.
The Tyro share price, in addition to Lifestyle Communities Limited (ASX: LIC), Pinnacle Investment Management Group Ltd (ASX: PNI) and SeaLink Travel Group Ltd (ASX: SLK), will be added to the S&P/ASX 200 Index (ASX: XJO).
Tyro shares performing strongly post-FY21 results
The Tyro share price has rallied 10.5% since releasing its FY21 results on Thursday 26 August.
Despite terminal connectivity issues in January and rolling COVID-19 lockdowns across major cities, the company delivered a well-rounded result.
The payment solutions company delivered a 26% increase in transaction values to a record $25.5 billion and a 13% increase in revenue to $238.5 million.
The company’s bottom line showed signs of improvement with earnings before interest, taxes, depreciation and amortisation (EBITDA) of $14.2 million compared to a $4.4 million loss in FY20. This is in addition to a normalised net loss before tax of $10.9 million, compared to a $25.9 million loss in FY20.
Should you invest $1,000 in Tyro Payments right now?
Before you consider Tyro Payments, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Tyro Payments wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of August 16th 2021
Why Tyro (ASX:TYR) and SeaLink (ASX:SLK) share prices could be moving up
ASX quarterly rebalance: A2 Milk dumped from ASX 50, Nuix kicked out of ASX 200
Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended PINNACLE FPO and Tyro Payments. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Nuix Pty Ltd. The Motley Fool Australia owns shares of and has recommended PINNACLE FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.