'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
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Last
$10.77 |
Change
0.170(1.60%) |
Mkt cap ! $1.925B | |||
| Open | High | Low | Value | Volume |
| $10.56 | $10.83 | $10.55 | $5.107M | 475.9K |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2044 | $10.75 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.82 | 100 | 1 |
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| MFG (ASX) Chart |