On six months basis MFG has done better than market indexes and in March 22 even on 12 months basis it would have beaten the market . If the market goes sideways, MFG will do better with its portfolio than the market and that will be start of gravitation back to MFG.
Last year MFG profit was A$412m on 103.5B FUM. If Barrenjoey breaks even profit would have been $454m. That means MFG has a buffer of A$10B before it starts going backwards on last year’s profit of A$454M which is A$ 2.47. With a diversified business model that is being build at MFG I doubt market giving a lower PE than current as we move towards half year profit and dividends. Difficult to say exactly where market will take you.
MFG in the BUY zone, page-426
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Last
$10.73 |
Change
0.290(2.78%) |
Mkt cap ! $1.939B | |||
| Open | High | Low | Value | Volume |
| $10.53 | $10.96 | $10.51 | $17.49M | 1.633M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2000 | $10.71 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.73 | 1667 | 1 |
View Market Depth
| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| MFG (ASX) Chart |