MACQUARIE GROUP LIMITED (MQG)
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MQG - MACQUARIE GROUP LIMITED

FNArena Sector : Wealth Management & Investments
Year End: March
GICS Industry Group : Diversified Financials
Debt/EBITDA: N/A
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Macquarie Group is an Australian multinational investment bank and financial services company operating in 25 countries. It is one of the world's largest infrastructure asset managers with over $495bn in AUM. It was founded in 1969 and listed in November 2007.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$201.61

25 Jul
2024

-7.120

OPEN

$204.60

-3.41%

HIGH

$205.00

881,386

LOW

$200.00

TARGET
$200.42

+3.54 change from previous day

 -0.6% downside
Franking for last dividend paid out: 40%
OTHER COMPANIES IN THE SAME SECTOR
AEF . AMP . ASX . AVC . BVS . CGF . CVW . ENN . GDC . GDG . GQG . HMC . HUB . IFL . IFT . IRE . KAM . KSL . MAF . MFG . NGI . NWL . PAC . PNI . PPS . PPT . PTM . QAL . RPL . RZI .
FNARENA'S MARKET CONSENSUS FORECASTS
MQG: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 916.6 1083.8 xxx
DPS (cps) xxx 640.0 700.7 xxx
EPS Growth xxx - 32.3% 18.2% xxx
DPS Growth xxx - 14.7% 9.5% xxx
PE Ratio xxx N/A 18.9 xxx
Dividend Yield xxx N/A 3.4% xxx
Div Pay Ratio(%) xxx 69.8% 64.6% xxx

Dividend yield today if purchased 3 years ago: 4.06%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.13

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: 13/05 - ex-div 385c (franking 40%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx916.6
DPS All xxxxxxxxxxxxxxx640.0
Sales/Revenue xxxxxxxxxxxxxxx29,872.0 M
Book Value Per Share xxxxxxxxxxxxxxx9,171.6
Net Operating Cash Flow xxxxxxxxxxxxxxx-7,125.0 M
Net Profit Margin xxxxxxxxxxxxxxx11.33 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx10.16 %
Return on Invested Capital xxxxxxxxxxxxxxx2.92 %
Return on Assets xxxxxxxxxxxxxxx0.85 %
Return on Equity xxxxxxxxxxxxxxx10.16 %
Return on Total Capital xxxxxxxxxxxxxxx1.84 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-11,744.0 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx62,125 M
Long Term Debt xxxxxxxxxxxxxxx85,471 M
Total Debt xxxxxxxxxxxxxxx147,596 M
Goodwill - Gross xxxxxxxxxxxxxxx2,408 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx90,271 M
Price To Book Value xxxxxxxxxxxxxxx2.18

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx1,957.0 M
Capex % of Sales xxxxxxxxxxxxxxx6.55 %
Cost of Goods Sold xxxxxxxxxxxxxxx-
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx4,649 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx76,369 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

0.1

No. Of Recommendations

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

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Login above or Get a Free Trial

Citi

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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UBS

26/07/2024

3

Neutral

$200.00

-0.80%

Following a further review of yesterday's 1Q results for Macquarie Group, UBS retains its Neutral rating and $200 target.

Summary of the broker's response yesterday:

Macquarie Group released an Q1 market update ahead of its AGM tday and UBS analysts, in an initial response, believe today's update reads worse than expected.

The Q1 run rate, explains the broker, is well below current consensus projections. With company management stating performance is in line with expectations, UBS points out this implies a strong H2 will be required.

Nevertheless, UBS's commentary remains sceptical, also arguing divisional commentary, with exception of CGM, equally reads worse than anticipated.

FORECAST
UBS forecasts a full year FY25 EPS of 1065.00 cents.
UBS forecasts a full year FY26 EPS of 1214.00 cents.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Login above or Get a Free Trial

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
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

Goldman Sachs

13/05/2024

3

Neutral

$183.82

-8.82%

Goldman Sachs maintains a Neutral rating on Macquarie Group, with a revised 12-month price target of $178.74, down from $186.38.

This change reflects a reduction in expected net profit after tax (NPAT) for FY25 to FY27 due to slight downgrades in revenue forecasts and an increase in expenses, offset by a lower tax rate.

Macquarie Group's FY24 net profit after tax was $3,522m, marking a -32% decline year-on-year though the result beat Goldman Sachs' estimate by 1%.

The broker believes the medium-term outlook remains positive, supported by an improving macroeconomic environment and potential benefits from global decarbonisation efforts.

Macquarie Group is well-positioned to leverage opportunities as interest rates peak, suggests the broker, with the rate-cutting cycle expected to start in November.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 640.00 cents and EPS of 1041.00 cents.
Goldman Sachs forecasts a full year FY26 dividend of 690.00 cents and EPS of 1120.00 cents.
Access Stockbroker Research History >

MQG STOCK CHART

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