'Significant positives' in Magellan results; UBS
UBS analyst Shreyas Patel sees "significant positives" in Magellan's FY23 results, including capital management via a 30 cents a share special dividend, governance chances, and FY24 cost guidance of $95-100m versus a consensus of $122.5m, addressing employee loans, and removal of the $100bn FUM target.
He says the cost saving alone one can drive a 14 per cent upgrade to the FY24 consensus estimate for net profit.
"We expect stock to respond very positively," Mr Patel says.
Ann: Funds Under Management - July 2023, page-16
Add MFG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$8.56 |
Change
0.110(1.30%) |
Mkt cap ! $1.547B | |||
| Open | High | Low | Value | Volume |
| $8.46 | $8.57 | $8.45 | $4.295M | 504.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1352 | $8.55 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.57 | 2765 | 3 |
View Market Depth
| Last trade - 16.10pm 07/06/2024 (20 minute delay) ? |
|
|||||
|
Last
$8.57 |
Change
0.110 ( 1.42 %) |
||||
| Open | High | Low | Volume | ||
| $8.47 | $8.57 | $8.45 | 165769 | ||
| Last updated 15.59pm 07/06/2024 ? | |||||
| MFG (ASX) Chart |