Macquarie updates Q4 guidance

After previously expecting profits from the Fixed Income, Currencies and Commodities division to fall in 2014 (Macquarie has a 31 March year end), Macquarie Group has announced that it expects profits from this division to be flat or slightly in the black. Combined with patches of increased corporate activity full year profit should increase 40-45% to around $1.2bn, the company’s largest profit since the $1.8bn achieved in 2008. But with a forecast return on equity of around 10% and a current price-to-tangible-book ratio of 1.5 Macquarie appears fairly valued. For the share price to increase substantially from here Macquarie’s...

After previously expecting profits from the Fixed Income, Currencies and Commodities division to fall in 2014 (Macquarie has a 31 March year end), Macquarie Group has announced that it expects profits from this division to be flat or slightly in the black. Combined with patches of increased corporate activity full year profit should increase 40-45% to around $1.2bn, the company’s largest profit since the $1.8bn achieved in 2008. But with a forecast return on equity of around 10% and a current price-to-tangible-book ratio of 1.5 Macquarie appears fairly valued.

{{content.question}}

Mastercard

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to proceed...

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access

Mastercard

Updating information

Please wait ...

Trial

Mastercard
{{ productPrice }} / day
( GST included )
Price $0
GST $0
Discount -{{productDiscount}}
TOTAL {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership

Mastercard

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device


Register as a new member

(using a different email)

Related Articles