Based on yesterday’s update I can’t believe how under priced MFG at the moment.
They had a profit of $454 m last year (2021FY)before principal investments losses. Now that we can assume these principal investments will at least break even, being on conservative side, MFG profit calculation is very different. On top of that Brett said expenses are tracking normally and based on scale up capacity, on current FUM of $114 B compared to last year average of A$103.5B, net profit after tax will be over $500m. That is EPS of around of A$2.75. This should give a minimum of A$45 SP.
As investors accept the principal investments are going to do well on long term basis, SP of A$50 easily achievable.
MFG in the BUY zone, page-508
Add MFG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$10.27 |
Change
-0.525(4.87%) |
Mkt cap ! $1.863B | |||
| Open | High | Low | Value | Volume |
| $10.50 | $10.55 | $10.15 | $2.918M | 282.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 572 | $10.26 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.27 | 472 | 13 |
View Market Depth
| Last trade - 12.53pm 20/08/2024 (20 minute delay) ? |
| MFG (ASX) Chart |