Macquarie Group (ASX:MQG) has announced a 14% year-on-year increase in half-year net profit after tax to A$1.61bn for the period ending 30 September 2024, driven largely by higher performance fees in Macquarie Asset Management and further digitalisation in Banking and Financial Services.
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Times are still tough for Macquarie Group (ASX:MQG), despite a pickup in some of its businesses in the June quarter compared to last year.
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Macquarie Group (ASX:MQG) has kept shareholders happy with a cut to the annual dividend much smaller than the 32% slide in full-year earnings the financial giant revealed on Friday morning.
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Kerry Stokes’ Seven Group Holdings (ASX:SVW), hoping for an easy mop-up bid for the rest of Boral (ASX:BLD), has hit heavy going with the target company telling shareholders on Tuesday to reject the offer.
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Macquarie Group (ASX:MQG), renowned for its ‘annuity’ style businesses in asset management, finds itself grappling with a significant decline in profit for the fiscal year ending March 31.
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Macquarie Group (ASX:MQG) has reduced its interim dividend by 15% to $2.55 per share, down from the $3 per share paid in the first half of 2022-23 due to a significant 38% decline in interim earnings.
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Judging by the flood of news late Wednesday about mass sackings across Macquarie Group (ASX:MQG), the investment bank's interim results on Friday must be very grim.
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In the span of just six weeks, Macquarie Group (ASX:MQG), the largest investment bank in the country, has experienced its second downgrade. The bank's shares plummeted more than 3% following the recent update.
Read MoreWestpac’s interim results yesterday capped the half way point of the Big Four’s FY2022-23, with some clear signs of loan stress already emerging.
Read MoreMacquarie Group reported another record profit after the volatility in interest rates and commodities, especially offshore, drove revenue.
Read MoreInvestors reacted cautiously to Tuesday’s earnings update from Macquarie Group as profits generated by the commodities trading division covered weaker performances elsewhere.
Read MoreWhile a $A71 million bad debt is not a big deal for Macquarie Group, the timing and nature of the loss could hardly be worse for Australia’s premier investment bank.
Read MoreInvestment bank Macquarie Group has revealed a rise in first quarter 2022 profits, buoyed by the global volatility in commodities markets and rising interest rates.
Read MoreMacquarie, the Commonwealth, the NAB and the ANZ have followed Westpac in announcing they would pass on the full 50 basis point RBA rate increase to their customers.
Read MoreASIC is taking Macquarie Group’s Macquarie Bank to court over poor controls on clients’ funds that allegedly allowed a $2.9 million embezzlement to go undetected for four years.
Read MoreThe Neutral rating is retained as earnings may be approaching peak levels, estimates the broker. The target price rises to $210 from $195.
Read MoreInvestment giant Macquarie Bank continued to ride financial markets in the three months to December, posting another record-breaking quarter in profits.
Read MoreMorgans raises its target price to $200 from $181.1 due to a lift in long-term growth assumptions and a valuation adjustment. The Hold rating is unchanged after a strong recent share price rally.
Read MoreMacquarie Group isn’t worried about the prospect of rising interest rates, hitching a $1.5 billion capital raising to a very solid interim result of a $2.04 billion net profit.
Read MoreWith the stock running hard and now trading on 20x FY22 PE it is close to fair value and the broker downgrades to Hold from Add. Target is raised to $181.10 from $172.30.
Read MoreMacquarie Group shares hit a new record yesterday after the investor and investment bank revealed that first half profit could be close to $2 billion for the six months to September 30.
Read MoreAMP continues to slim itself, announcing the sale of AMP Capital’s global equities and fixed income (GEFI) business to Macquarie Asset Management in a deal worth $185 million.
Read MoreCiti maintains a Sell rating as the valuation and expectations appear stretched near-term. Despite this, Citi raises the target to $140 from $125.
Read MoreMacquarie Group has lifted final dividend by a massive 86% to $3.55 a share after riding the recovery in equities, bonds and commodities markets to a 10% rise in earnings for the year.
Read MoreSell rating reiterated. Target is $125.
Read MoreMacquarie Group has been hit hard by APRA, the key financial regulator which has imposed a massive half a billion extra capital charge and other penalties for two years of breaches.
Read MoreMacquarie Group has upgraded recent guidance for profit (NPAT) to be “slightly down on FY20” to now “up around 5%-10%” on pcp. Morgans’ Add rating is unchanged and the target price increased to $162.3 from $147.
Read MoreMacquarie Group has announced the acquisition of Waddell & Reed Financial (WRF), a US-listed Asset Management (AM) and Wealth Management (WM) business.
Read MoreRather than capital management as some investors might have hoped for, Macquarie Group will spend $US1.7 ($A2.3 billion) in cash on buying American funds management company, Waddell & Reed Financial.
Read MoreMacquarie Group has joined its larger peers in cutting its dividend after a slide in earnings. The investment bank said on Friday that first-half earnings fell 32% to $985 million as at September 30 as impairments and other costs in its Key Capital arm rose thanks to the continuing ripples from the COVID-19 pandemic.
Read MoreMacquarie Group has announced, with two weeks remaining in the first half, it expects profit (NPAT) to be around $950m. This is around -25% lower than the second half of 2020.
Read MoreThe good times have well and truly gone for Macquarie group with the company warning of a 35% plus slump in first-half earnings for the six months to September 30.
Read MoreMacquarie Group says the outlook remains highly uncertain, with profits dipping slightly in the first quarter as its businesses face challenges from rising bad debts and a softer market for selling assets.
Read MoreCredit Suisse continues to believe Macquarie Group is a quality business but there are multiple headwinds over the short-term around transaction volumes, asset realisations and the potential for further impairments.
Read MoreNot even the mighty Macquarie Group can escape the impact of the COVID-19 pandemic and measures taken to control its spread.
Read MoreResults from the ANZ Bank and Macquarie Group will dominate an otherwise quiet week. The big issue for investors will be the level of dividends both banks declare after the strong advice from the key regulator APRA.
Read MoreAPRA, the financial regulator, has told banks, insurers, and other financial groups to think carefully about deciding whether dividends can be paid to shareholders over the rest of this year and into 2021.
Read MoreMacquarie Group shares closed a touch lower yesterday after the investment bank confirmed previous full-year guidance for a slight fall in earnings for the 12 months to March 31.
Read MoreMacquarie’s result was largely in line with consensus and relatively clean and solid, the broker suggests. The Group is tracking well against FY guidance of “slightly lower” but is cycling a very strong second half last year, Morgans notes.
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
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DOWNLOAD RESEARCH REPORTHigh performance synthetic anode & cathode materials Building a US based materials supply chainNOVONIX (ASX:NVX) – is scaling a synthetic anode materials plant in the US and piloting nickel rich cathode material in Canada. Why? China is dominant and growing – 100% of global natural anode and 68% of synthetic anode is refined in China. In short, China controls the global midstream battery chain by controlling 60% of chemical refining, 87% of anode manufacturing, 61% of cathode manufacturing and 73% of battery manufacturing. It is global battery supply and price domination at scale. |
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DOWNLOAD RESEARCH REPORTAntisense Therapeutics (ANP) Taking a Quick Approach to Long COVIDThis report looks at the results of a collaborative study Antisense undertook which looked at the largest protein expression database in Long COVID-19 patients who experienced neurologic symptoms well after the primary or acute SARS-CoV-2 infection was considered over (Groups 1 & 2, with 48 subjects Group 2 comprising a single patient from a different clinical site). The symptoms and others experienced by such patients result in a highly significant amount of illness, possibly more than all primary SARS-CoV-2 infections i.e COVID-19. |
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DOWNLOAD RESEARCH REPORT4Q reveals more focus on profit and cash flow• LBY’s 4Q FY22 quarterly activities update showed continued solid growth in top line metrics, albeit slowing, with GMV of NZ$203m (+26% on pcp) and income of NZ$12.1m (+23% on pcp).
• Net Transaction Margin (NTM) disappointed at -0.5%, due to further increase in credit losses from 4.0% to 4.9% of GMV. However, new fraud and credit risk management tools have seen losses recover materially with NTM back to 1.2% in March and LBY is confident of further recovery in coming months.
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DOWNLOAD RESEARCH REPORTSigns MOU with Ford Company – Kachi is now sold out!Lake Resources (LKE. ASX) – LKE has signed two non-binding MOU’s in the space of 10 days. Ford Company (Ford) has signed an MOU for ~25,000t/year and last week Hanwa, a Japanese commodity trader signed a MOU for up to 25,000t/year. Subject to execution, this is an amazing feat as Ford and Hanwa are prepared to enter into longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing but are expected, especially if Ford & Hanwa inject new equity into LKE, to further de-risk the project financing & thus ensure LKE and Kachi are fully funded. |
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DOWNLOAD RESEARCH REPORTStrategic Vanadium-battery growth with Titanium & Iron earnings resiliencyTNG Ltd is an ASX-listed technology owner and developer of the world-class Mount Peake near-surface vanadiferous titanomagnetite deposit. To unlock value, TNG will concentrate ore from its central Northern Territory mine for processing through its patented TIVAN® process produce three premium quality revenue streams: hi-purity vanadium pentoxide (V2O5) for steel alloys and Vanadium Redox Flow batteries, a quality titanium pigment for paints and a premium steel input with >64%Fe iron ore fines. |
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Promising exploration and development update while SOP prices continue to riseTwo recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell. TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade. Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn. |
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DOWNLOAD RESEARCH REPORTIncreasing our TargetDespite the lower realised oil and gas price, which fell by 5.4% and 19.7% respectively in August, Calima managed to show improvement in its key business metrics. We expect higher production in November due to the contribution by the new Thorsby wells which will be drilled in August/September which will see Calima meet its 2021 production guidance of 4,500 boe/d. |
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DOWNLOAD RESEARCH REPORTEmerging Financial Wealth Advisory GroupWT Financial Group Limited (WTL) is a growing diversified financial services company, founded in 2010 and listed on the Australian Stock Exchange (ASX) in 2015. Its advice and product offerings are delivered primarily through a group of independent financial advisers operating as authorised representatives of WTL under its Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group) dealer group operations. It has around 275 advisers across more than 200 financial advice practices Australia-wide. It also operates a direct-to-consumer operation under its Spring Financial Group brand. |
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DOWNLOAD RESEARCH REPORTImmutep Taking the Fight to CancerIn May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). So impressed was he with IMM that Corporate Connect felt it imperative that a follow-up report be released placing a valuation on the company, because the market was not seeing the vast potential of eftilagimod alpha (efti). This follow-up report has been released today. Using comparables, after adding cash back to their EV estimate and dividing by the total number of issued shares, Corporate Connect now places the fair value of an Immutep share at $A2.20. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaPayGroup (PYG) delivers multi-country BPO services and cloud SaaS HCM solutions, assisting companies to manage employees in multiple, complex jurisdictions. The company has many growth opportunities, including new clients, new jurisdictions, new products, partner expansion, and new revenue sources. PYG’s scalable business model allows operating leverage and with savings from in-housing third party technology, support margin expansion. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaOpenLearning (OLL) is a higher education technology company that operates a scalable online learning platform through a software-as-a-service (SaaS) business model and provides a global marketplace of high quality courses for learners of all levels. Its primary customers are education providers based in Australia and South-East Asia (primarily Malaysia). OLL started operations in Australia in 2012 and expanded to Malaysia in 2015, Singapore in 2018, and recently also Indonesia. |
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