Macquarie Group faces challenges despite improved performance
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’s resilient performance in face of earnings slide
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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Stokes’ bid for Boral hits road bump
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.
Read MoreMacquarie Group faces profit decline
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.
Read MoreMacquarie Group slashes interim dividend by 15%
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.
Read MoreMacquarie Group’s ‘Millionaire’s Factory’ suffers amid mass layoffs
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.
Read MoreMacquarie Group faces second downgrade in six weeks
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 MoreLoan Stress Creep the Chief Concern for Local Banks
Westpac’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 MoreWhippy Markets Play to Macquarie’s Strength
Macquarie Group reported another record profit after the volatility in interest rates and commodities, especially offshore, drove revenue.
Read MoreCommodities Cover Weakness Elsewhere for Macquarie
Investors reacted cautiously to Tuesday’s earnings update from Macquarie Group as profits generated by the commodities trading division covered weaker performances elsewhere.
Read MoreCimolai Woes Poor Timing Indeed for Macquarie
While 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 MoreMacquarie Turns Volatility into Profitability
Investment 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 MoreMajor Bank Borrowers to Bear Full Rate Rise
Macquarie, 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 Hits Mac Bank for Embezzled Funds
ASIC 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 MoreMQG – Credit Suisse rates the stock as Neutral
The Neutral rating is retained as earnings may be approaching peak levels, estimates the broker. The target price rises to $210 from $195.
Read MoreAnother Quarter, Another Record for Mac Bank
Investment giant Macquarie Bank continued to ride financial markets in the three months to December, posting another record-breaking quarter in profits.
Read MoreMQG – Morgans rates the stock as Hold
Morgans 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 Looking to Capitalise on Strong Profits
Macquarie 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 MoreMQG – Morgans rates the stock as Hold
With 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 MoreMac Bank Touches All-Time High on Guidance
Macquarie 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 Flicks GEFI Assets to Macquarie
AMP 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 MoreMQG – Citi rates the stock as Sell
Citi maintains a Sell rating as the valuation and expectations appear stretched near-term. Despite this, Citi raises the target to $140 from $125.
Read MoreSolid Earnings, Big Dividend from Mac Bank
Macquarie 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 MoreMQG – Citi rates the stock as Sell
Sell rating reiterated. Target is $125.
Read MoreMacquarie Sent to the Naughty Chair by APRA
Macquarie 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 MoreMQG – Morgans rates the stock as Add
Macquarie 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 MoreMQG – Morgans rates the stock as Add
Macquarie Group has announced the acquisition of Waddell & Reed Financial (WRF), a US-listed Asset Management (AM) and Wealth Management (WM) business.
Read MoreMacquarie Moves Deeper Into The US With Waddell & Reed Buy
Rather 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 Cuts Dividend As H1 Profit Falls 32%
Macquarie 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 MoreMQG – UBS rates the stock as Neutral
Macquarie 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 MoreMacquarie Group Flags 35% Profit Slump Amid “Unprecedented Uncertainty”
The 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 Profit Slightly Down Amid “Unprecedented Uncertainty”
Macquarie 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 MoreMQG – Credit Suisse rates the stock as Downgrade to Neutral from Outperform
Credit 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 MoreCautious Macquarie Halves Dividend As Profit Drops 8%
Not even the mighty Macquarie Group can escape the impact of the COVID-19 pandemic and measures taken to control its spread.
Read MoreEarnings Preview: ANZ, Macquarie Face Dividend Test
Results 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 Pressures Banks On “Prudent Reductions” To Dividends
APRA, 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 Reaffirms Softer Full Year Outlook
Macquarie 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 MoreMQG – Morgans rates the stock as Add
Macquarie’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.
Read MoreMacquarie Loses Some Momentum As H1 Profit Slips 13%
The Macquarie Group money-making machine seems to be losing momentum, judging by the 2019-20 interim result and weak forecast released on Friday (November 1).
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