MIRVAC GROUP (MGR)
Share Price Analysis and Chart

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MGR - MIRVAC GROUP

FNArena Sector : Infra & Property Developers
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 8.47
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Mirvac is an Australian property group with a portfolio that includes commercial offices, retail centres and industrial properties across Australia. It is also active in the build to rent sector. The company was founded in 1972 and publicly listed in 1999.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.06

22 Jul
2024

0.010

OPEN

$2.04

0.49%

HIGH

$2.07

7,121,377

LOW

$2.04

TARGET
$2.186 6.1% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
CMW . CWP . FRI . FWD . GMG . GOZ . GPT . HPI . LIC . LLC . PPC . SFC . SGP . SIO . UOS .
FNARENA'S MARKET CONSENSUS FORECASTS
MGR: 1
Title FY22
Actual		 FY23
Actual		 FY24
Forecast		 FY25
Forecast
EPS (cps) xxx - 4.2 14.1 xxx
DPS (cps) xxx 10.5 10.6 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx 2.9% 1.2% xxx
PE Ratio xxx N/A 14.8 xxx
Dividend Yield xxx N/A 5.1% xxx
Div Pay Ratio(%) xxx N/A 75.6% xxx

Dividend yield today if purchased 3 years ago: 3.67%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.05

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 28/12 - ex-div 4.5c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx-4.2
DPS All xxxxxxxxxxxxxxx10.5
Sales/Revenue xxxxxxxxxxxxxxx1,892.0 M
Book Value Per Share xxxxxxxxxxxxxxx267.6
Net Operating Cash Flow xxxxxxxxxxxxxxx-57.0 M
Net Profit Margin xxxxxxxxxxxxxxx-8.72 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx-1.52 %
Return on Invested Capital xxxxxxxxxxxxxxx-1.10 %
Return on Assets xxxxxxxxxxxxxxx-0.96 %
Return on Equity xxxxxxxxxxxxxxx-1.52 %
Return on Total Capital xxxxxxxxxxxxxxx3.03 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-467.0 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx258 M
Long Term Debt xxxxxxxxxxxxxxx4,282 M
Total Debt xxxxxxxxxxxxxxx4,540 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx122 M
Price To Book Value xxxxxxxxxxxxxxx0.84

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx5.0 M
Capex % of Sales xxxxxxxxxxxxxxx0.26 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,057 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx372 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx11,764 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.8

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

01/07/2024

3

Equal-weight

$2.35

14.08%

Mirvac Group has confirmed the sell-down of a -66% stake in its 55 Pitt St office development to Mitsui Fudosan Australia, and has reaffirmed FY24 EPS guidance of between 14.0-14.3cps.

The sale shores-up commercial development profits across FY25-27, and removes concerns about a FY24 guidance miss, suggests Morgan Stanley.

Overall guidance was maintained as commercial development profits may come in above the previous $120m indication, helping make up for slightly lower residential settlement guidance, explains the broker.

Equal-weight. The target is $2.35. Industry view: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY24 dividend of 10.50 cents and EPS of 14.10 cents.
Morgan Stanley forecasts a full year FY25 dividend of 10.80 cents and EPS of 14.20 cents.

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

21/06/2024

2

Upgrade to Overweight from Neutral

$2.20

6.80%

Within Jarden's coverage of the Australian REIT sector, weighted-average funds from operations (FFO) growth forecasts are starting to improve for FY25 and FY26 to 3.6% and 7.9%, respectively, from -2.2% in FY24.

The broker believes downside risk to asset values is well reflected in current valuations, and REITs are increasingly moving to offence from defence.

Excluding Goodman Group (which remains the best quality stock in the sector), the analysts see around 18% upside to 12-month target prices.

The broker's target for Mirvac Group is decreased to $2.20 from $2.25 and the rating upgraded to Overweight from Neutral as the share price has significantly underperformed the sector over the past six months.
Access Stockbroker Research History >

MGR STOCK CHART

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