Macquarie Group Ltd
MQG: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$882.00 | Rmgdvz | Tjntcgspg |
Macquarie Earnings: The Hangover After a Record Year Is Expected to Pass
Narrow-moat Macquarie’s first-half fiscal 2024 profit of AUD 1.4 billion and short-term guidance prompts a 5% reduction in our fiscal 2024 forecast to AUD 3.8 billion. The key culprit is lower investment income as a result of fewer asset realizations. We expect a much stronger second half, with management commentary giving us comfort it has profitable assets in the pipeline to be sold soon that have strong buyer interest.