MAGELLAN FINANCIAL GROUP LIMITED (MFG)
Share Price Analysis and Chart

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MFG - MAGELLAN FINANCIAL GROUP LIMITED

Year End: June
GICS Industry Group : Diversified Financials
Debt/EBITDA: 0.04
Index: ASX200 | ASX300 | ALL-ORDS

Magellan Financial is a global investment company specialising in global equities and global listed infrastructure. It was formed in 2006 and has offices in Australia, New Zealand and the US. It acquired Airlie Funds in Australia in 2016.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$9.49

12 Apr
2024

0.140

OPEN

$9.39

1.50%

HIGH

$9.51

449,152

LOW

$9.31

TARGET
$8.978 -5.4% downside
Franking for last dividend paid out: 50%
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FNARENA'S MARKET CONSENSUS FORECASTS
MFG: 1
Title FY22
Actual
FY23
Actual
FY24
Forecast
FY25
Forecast
EPS (cps) xxx N/A 90.0 xxx
DPS (cps) xxx N/A 60.3 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 10.5 xxx
Dividend Yield xxx N/A 6.4% xxx
Div Pay Ratio(%) xxx N/A 67.0% xxx

Dividend yield today if purchased 3 years ago: 2.37%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

12.30

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: 20/02 - ex-div 29.4c (franking 50%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx100.1
DPS All xxxxxxxxxxxxxxx116.7
Sales/Revenue xxxxxxxxxxxxxxx381.2 M
Book Value Per Share xxxxxxxxxxxxxxx534.1
Net Operating Cash Flow xxxxxxxxxxxxxxx186.6 M
Net Profit Margin xxxxxxxxxxxxxxx47.92 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx18.36 %
Return on Invested Capital xxxxxxxxxxxxxxx18.20 %
Return on Assets xxxxxxxxxxxxxxx14.97 %
Return on Equity xxxxxxxxxxxxxxx18.36 %
Return on Total Capital xxxxxxxxxxxxxxx26.64 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-24.6 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 xxxxxxxxxxxxxxx3 M
Long Term Debt xxxxxxxxxxxxxxx8 M
Total Debt xxxxxxxxxxxxxxx10 M
Goodwill - Gross xxxxxxxxxxxxxxx106 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx375 M
Price To Book Value xxxxxxxxxxxxxxx1.78

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx0.1 M
Capex % of Sales xxxxxxxxxxxxxxx0.03 %
Cost of Goods Sold xxxxxxxxxxxxxxx49 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx64 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx421 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

-0.3

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Citi

16/02/2024

5

Sell

$8.10

-14.65%

Citi  analysts saw Magellan Financial releasing 1H24 results that proved largely in line, ex investment gains. The broker now suggests investors' focus will shift to the new MD, strategic priorities, and capital.

Citi does believe the risk for further disappointment from the troubled asset manager has diminished, though the transitory nature likely means the turnaround will be a prolonged process, the broker argues.

Short-term forecasts went up, followed by small decreases in EPS forecasts for FY25 an FY26. Target remains $8.10. Citi does not waver from its Sell rating.

At face value, Magellan Financial's result looks like a strong beat to market expectations; but the analysts explain it is driven by investment fund capital gains, which are usually lumpy in nature.

FORECAST
Citi forecasts a full year FY24 dividend of 61.70 cents and EPS of 87.80 cents.
Citi forecasts a full year FY25 dividend of 63.90 cents and EPS of 71.60 cents.

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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MFG STOCK CHART