Macquarie Group Ltd
MQG: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$282.00 | Crrqxsq | Gwgwhkryj |
Despite Multiple Earnings Upgrades Macquarie's Fiscal 2015 Earnings Still Provide Welcome Surprise
Macquarie Group surprised with a higher-than-expected net profit of AUD 1.6 billion for fiscal 2015, up an impressive 27% on a year ago. Earnings beat our forecast and consensus of AUD 1.5 billion by 7%. Five of the six divisions contributed with strong performances. A significant increase in performance fees boosted the bottom line. Macquarie's guidance for fiscal 2016 is for profit to be "slightly up" on fiscal 2015. The 40% franked final dividend of AUD 2.00 per share takes total dividends to AUD 3.30 per share (40% franked) up an impressive 27%.