Macquarie Group (ASX: MQG) $163.24
MQG +1.78%: A softer-than-expected 1H24 result today driven mainly by weaker performance from Macquarie Asset Management (MAM) - net profit of $1.42bn was below consensus of $1.69bn and they declared an Interim dividend of $2.55, ahead of the $2.25 expected. While their overall guidance for the year suggests some stabilisation in 2H earnings, and the approved on-market share buyback of up to $2bn is very supportive, the result was a miss and should lead to downgrades.
That said, MQG sees the market like no other, and when they conclude that allocating $2bn towards their own stock is the most compelling use of capital, we should take note, and that is what happened today. A tough period for them clearly, however they are a quality franchise, highly leveraged to improving markets, and we remain holders of the shares in our Growth Portfolio.
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Last
$225.17 |
Change
5.210(2.37%) |
Mkt cap ! $85.82B |
Open | High | Low | Value | Volume |
$220.90 | $226.19 | $220.69 | $219.4M | 984.3K |
Buyers (Bids)
No. | Vol. | Price($) |
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2 | 1663 | $224.93 |
Sellers (Offers)
Price($) | Vol. | No. |
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$225.17 | 43 | 1 |
View Market Depth
No. | Vol. | Price($) |
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2 | 1663 | 224.930 |
1 | 99 | 224.850 |
1 | 4 | 224.800 |
2 | 2175 | 224.680 |
2 | 3286 | 224.630 |
Price($) | Vol. | No. |
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225.170 | 43 | 1 |
225.300 | 40 | 1 |
225.540 | 50 | 1 |
225.630 | 500 | 1 |
225.690 | 912 | 1 |
Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
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