MorgansCHALLENGER F.S.G.LTD - A net positive quarter
5:22pm 16th October 2019
Recommendation: Hold
CGF has provided a 1Q20 update to the market. Overall the headline figures of 14% total annuity sales growth on pcp and 5% life net book growth for the quarter highlight a relatively robust 1Q20. However, while it's a good quarter on balance, domestic annuity sales continue to be a concern, down 11% on pcp. We upgrade CGF FY20F/FY21F EPS by 2% reflecting higher institutional and Japanese sales forecasts. Our PT rises ~2% to A$7.53. Maintain Hold. A good quarter, but we need to see more evidence of improving sales trends to go more positive and see CGF as fair value trading on ~13x FY20F PE.
Has CGF Turned the Corner..........The Macquarie VIEW, page-2
-
- There are more pages in this discussion • 3 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add CGF (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$6.44 |
Change
0.020(0.31%) |
Mkt cap ! $4.450B | |||
| Open | High | Low | Value | Volume |
| $6.40 | $6.49 | $6.36 | $9.686M | 1.502M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4996 | $6.44 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.48 | 3596 | 1 |
View Market Depth
| Last trade - 16.10pm 18/09/2024 (20 minute delay) ? |
| CGF (ASX) Chart |