BUY HOLD SELL - MQG
We have been big fans of Macquarie Group (MQG) for some time. MQG’s pivot away from traditional investment banking to asset management has been a boon for the company. Couple that shift with excellent management and access to cheap debt, and it has been a recipe for success for the ‘millionaire factory’.
But after the latest full-year results, in which MQG called for softening profits in future periods, the question begs whether MQG’s charmed run can continue. Below we will take a closer look.
Let’s plough through the latest numbers:
- Full-year net profit came in at $2.98bn versus expectations of $2.96bn
- Net operating income $12.75bn vs $12.27bn
- EPS 883c
- Annualised ROE 18.0% - would place...Continue Reading