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

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MFG - MAGELLAN FINANCIAL GROUP LIMITED

FNArena Sector : Wealth Management & Investments
Year End: June
GICS Industry Group : Diversified Financials
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

$13.99

18 Aug
2022

-0.130

OPEN

$13.85

-0.92%

HIGH

$14.20

1,864,210

LOW

$13.67

TARGET
$11.757 -16.0% downside
Franking for last dividend paid out: 80%
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FNARENA'S MARKET CONSENSUS FORECASTS
MFG: 1
Title FY21
Actual		 FY22
Actual		 FY23
Forecast		 FY24
Forecast
EPS (cps) xxx 206.9 111.7 xxx
DPS (cps) xxx 179.0 99.9 xxx
EPS Growth xxx 43.1% - 46.0% xxx
DPS Growth xxx - 15.2% - 44.2% xxx
PE Ratio xxx N/A 12.9 xxx
Dividend Yield xxx N/A 6.9% xxx
Div Pay Ratio(%) xxx 86.5% 89.4% xxx

Dividend yield today if purchased 3 years ago: 3.43%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 12.40

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: 23/02 - ex-div 100.1c (franking 25%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2022 FactSet UK Limited. All rights reserved
Title 201720182019202020212022
EPS Basic xxxxxxxxxxxxxxx206.9
DPS All xxxxxxxxxxxxxxx179.0
Sales/Revenue xxxxxxxxxxxxxxx669.4 M
Book Value Per Share xxxxxxxxxxxxxxx558.9
Net Operating Cash Flow xxxxxxxxxxxxxxx434.6 M
Net Profit Margin xxxxxxxxxxxxxxx57.21 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201720182019202020212022
Return on Capital Employed xxxxxxxxxxxxxxx37.99 %
Return on Invested Capital xxxxxxxxxxxxxxx37.58 %
Return on Assets xxxxxxxxxxxxxxx31.17 %
Return on Equity xxxxxxxxxxxxxxx37.99 %
Return on Total Capital xxxxxxxxxxxxxxx39.68 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx52.5 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

This is work in progress. Bear with us. It'll be amazing.

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

-0.4

No. Of Recommendations

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

Ord Minnett

xx/xx/xxxx

4

xxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

18/08/2022

5

Sell

$10.30

-26.38%

Magellan Financial reported FY22 earnings below UBS expectations with the core funds management business missing estimates by 4%, as institutional repricing led to lower margins.

UBS views there is a $120m p.a. risk to revenues and some 35% of earnings, due to the retail base fees, which remain too high relative to the market place and notes that the lack in change of strategic direction from the new CEO is unlikely to reverse fund outflows.

The group retains a robust balance sheet of $963m in cash and investments, equaling $5.30 per share.

The analyst downgrades earnings forecasts for FY23 and FY24 by -2% and -5%, respectively, factoring in higher fund outflows and lower institutional fee margins.

A Sell rating is retained and the price target is lowered to $10.30 from $10.60.

FORECAST
UBS forecasts a full year FY23 EPS of 111.00 cents.
UBS forecasts a full year FY24 EPS of 90.00 cents.

Credit Suisse

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
Access Stockbroker Research History >

MFG STOCK CHART

FNArena News on MFG

1
FNArena Corporate Results Monitor – 18-08-2022

Aug 18 2022 - Australia
2
Rudi’s View: August Results – First Blood

Aug 11 2022 - Rudi's View
3
Australian Broker Call *Extra* Edition – Aug 10, 2022

Aug 10 2022 - Daily Market Reports
4
July In Review: Growth Regains Leadership Over Value In 2022

Aug 04 2022 - Australia
5
Rudi’s View: August Preview – Curve Balls, Profits & Opportunities

Aug 04 2022 - Rudi's View

Latest Wealth Management & Investments News

1
Hub24: Short-Term Volatility Weighs

Jun 20 2022 - Australia
2
SMSFundamentals: SMAs Hot, Retail Funds Not

Jun 07 2022 - SMSFundamentals
3
Pendal Navigates Volatility With Cost Control

May 13 2022 - Australia
4
In Brief: Debt Doubles, Investment Markets, Homewares Retail

Apr 08 2022 - Weekly Reports
5
Treasure Chest: Undervalued Fund Managers

Mar 21 2022 - Treasure Chest
6
Margins Give Hub24 An Edge on Competitors

Feb 28 2022 - Australia
7
Macquarie On Watch

Feb 01 2022 - Technicals
8
Hub24: More Patience Required

Jan 11 2022 - Technicals
9
More Mandate Losses Expected For Magellan

Dec 22 2021 - Australia
10
Australian Super Offering Lower Fees, Better Returns

Nov 02 2021 - Australia