MQG.AX - Macquarie Group Limited

ASX - ASX Delayed Price. Currency in AUD
135.50
+0.12 (+0.09%)
At close: 4:10PM AEDT
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Previous Close135.38
Open136.10
Bid135.48 x 0
Ask135.50 x 0
Day's Range134.24 - 136.20
52 Week Range103.30 - 139.10
Volume690,333
Avg. Volume869,493
Market Cap46B
Beta (3Y Monthly)0.93
PE Ratio (TTM)15.01
EPS (TTM)9.03
Earnings DateNov 1, 2019
Forward Dividend & Yield5.00 (3.69%)
Ex-Dividend Date2019-11-11
1y Target Est129.79
  • Bloomberg

    Macquarie Weighs $2 Billion Sale of Virginia Toll Tunnels

    (Bloomberg) -- Macquarie Group Ltd. and Skanska AB are weighing the sale of the Elizabeth River Tunnels, a toll road concession in southeastern Virginia that could fetch more than $2 billion, according to people familiar with the matter.Macquarie Infrastructure and Real Assets, the Australian bank’s infrastructure-investing arm, and Skanska are interviewing potential advisers ahead of a sale process for the project that could start next year, said the people, who asked to not be identified because the matter isn’t public. Skanska is a Stockholm-based construction company.The toll road is expected to draw interest from corporate buyers, pension funds and infrastructure funds, the people said. Many of the latter have amassed billions of dollars in capital to spend on North American infrastructure -- specifically, transportation, communications, energy and waste assets.“It is the policy of both Skanska and Macquarie not to comment on the divestment potential for individual assets,” the firms said in a joint statement. “The companies are continuously evaluating strategic alternatives for mature projects where construction is complete and operations are stable. If and when there is an agreement to sell an asset, the companies would make a formal disclosure to the market.”As part of a partnership with the Virginia Department of Transportation, Macquarie and Skanska have the right to operate the toll road until 2070, according to Skanksa’s website. Road improvements began in 2012 and tolling was put in place in 2014 for the route, which connects the cities of Portsmouth and Norfolk.While there has been a dearth of toll road dealmaking in the U.S. in 2019, activity in adjacent geographies has picked up recently. In October, Abertis Infraestructuras SA and Singapore sovereign wealth fund GIC Pte Ltd. agreed to buy Goldman Sachs Group Inc.’s infrastructure arm’s majority stake in one of Mexico’s largest private toll road operators. Separately, Goldman’s infrastructure arm is exploring the sale of its stake in a Puerto Rico toll road concession, Bloomberg News reported in October.To contact the reporter on this story: Gillian Tan in New York at gtan129@bloomberg.netTo contact the editors responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net, Matthew Monks, Michael HythaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Nintendo Will Prove the Switch’s Longevity This Holiday Season
    Bloomberg

    Nintendo Will Prove the Switch’s Longevity This Holiday Season

    (Bloomberg) -- Nintendo Co.’s Switch console is poised for its best holiday shopping season yet.The company will probably sell 9.46 million units of Switch hardware and 64.73 million units of software in the quarter ending December, according to analyst estimates compiled by Bloomberg. While the forecast console numbers mark only a slight improvement on last year’s results, it’s games that deliver most of Nintendo’s profit, and software sales may climb about 23%.Achieving those numbers could prompt Nintendo to revise its conservative earnings outlook for the year ending March 2020. The Switch’s performance in its third holiday season will also hold clues for the console’s longevity in an industry where hardware is typically overhauled every five years and rivals Microsoft Corp. and Sony Corp. are already planning new machines for the end of 2020.“This is typically where sales begin to peak out, but it looks like the Switch may have a longer life cycle,” said Kazunori Ito, an analyst at Morningstar Investment Services in Tokyo. “With a desktop console and a portable player in a single machine, Nintendo has a very effective platform for selling game software.”Nintendo designed the console so that it can be used on the big living room screen as well as on the go, and in September it also introduced a cheaper Switch Lite focused on expanding the mobile market. Combined sales have already topped 40 million units since launch in March 2017 and many analysts expect the Switch will last long enough to reach the 100 million record set by the Nintendo Wii.There’s More to Nintendo’s Game Than Gadget Sales: Tim CulpanThe Kyoto-based company has stuck with a conservative forecast for operating profit of 260 billion yen ($2.4 billion) on 1.25 trillion yen in revenue for the year ending March 2020. That’s short of analysts’ expectations of 308.8 billion yen and 1.28 trillion yen, respectively.Nintendo also expects to sell 18 million Switch units and 125 million new software titles this fiscal year. That compares with the average of four analysts’ estimates for 19.07 million, and the 147.43 million average of nine estimates.“Last year’s holidays is a high hurdle to clear,” said Masaru Sugiyama, an analyst at Goldman Sachs Group Inc. “But there is a good chance for year-on-year growth.”The 2018 lineup included a Pokemon double-issue that sold a combined 10 million units in a month and a half to the end of the year. Super Smash Bros. Ultimate launched on Dec. 7 and raked in sales of over 12 million units. Nintendo sold 9.42 million Switch consoles in that holiday quarter and a total of 52.5 million units of software.This year, Nintendo is again targeting the Pokemon fan base with two new titles -- Pokemon Sword and Pokemon Shield. The games, which debuted on Nov. 15, have come under criticism from fans unhappy with the quality of graphics and animations and the lack of the full stable of “pocket monsters.” Still, sales exceeded 6 million units during the launch weekend, making it the fastest-selling Switch game to date.“It’s a Pokemon title, so unless you are giving up on the franchise, it’s hard to imagine fans not buying it,” said Damian Thong, an analyst at Macquarie Group Ltd. “Pokemon Sword and Shield will probably end up being the single largest game in terms of launch year revenue, probably bigger than Smash Bros.”In October, Nintendo released Ring Fit Adventure, an $80 exercise game that comes with a flexible plastic ring that tracks the player’s motion by slotting in one of the Switch’s Joy-Con controllers and having the user strap the other to their leg. With that basic motion-capture setup, gamers wage heroic battles and clear stages by jogging and doing squats.Nintendo is looking to repeat the success of the Wii Fit -- the exercise game that broke new ground when it was introduced in 2012 along with a Balance Board peripheral. It sold more than 50 million units and was key to broadening the appeal of the Wii console to new audiences. Ring Fit Adventure is off to a promising start, as Nintendo on Friday apologized for being unable to keep up with overwhelming demand.The Wii went on to sell over 101 million units of hardware and 900 million games, setting a high standard of success that Nintendo has struggled to live up to since. The company’s share price hit its peak in the year following the Wii’s 2006 launch and the stock now trades about 40% below its 2007 record.So far, the Switch has held its own against its storied predecessor and has even done better in hardware sales during its first two holiday seasons.“The Switch can sell 20 million units annually for the next three years,” said Michael Pachter, an analyst at Wedbush Securities Inc. “So it should easily get to 100 million.”Not everyone agrees. Macquarie’s Thong thinks a lot of the casual gamers that helped power the Wii’s runaway success have moved on to free-to-play games on smartphones, such as Nintendo’s own wildly popular Mario Kart Tour. There is also a lot more competition for people’s free time from social media and streaming video. Still, Nintendo’s prospects remain bright in the near-term.“The focus is the game, not the console itself,” Thong said. “2021 might be an even bigger year for title launches. There is a new Zelda game and it will be time for a mid-cycle refresh for all major Nintendo titles.”To contact the reporters on this story: Pavel Alpeyev in Tokyo at palpeyev@bloomberg.net;Yuki Furukawa in Tokyo at yfurukawa13@bloomberg.netTo contact the editors responsible for this story: Edwin Chan at echan273@bloomberg.net, Vlad SavovFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Is Macquarie Group Limited (ASX:MQG) An Attractive Dividend Stock?
    Simply Wall St.

    Is Macquarie Group Limited (ASX:MQG) An Attractive Dividend Stock?

    Today we'll take a closer look at Macquarie Group Limited (ASX:MQG) from a dividend investor's perspective. Owning a...

  • Thomson Reuters StreetEvents

    Edited Transcript of MQG.AX earnings conference call or presentation 31-Oct-19 11:00pm GMT

    Half Year 2020 Macquarie Group Ltd Earnings Presentation

  • Moody's

    Macquarie Financial Holdings Pty Limited -- Moody's announces completion of a periodic review of ratings of Macquarie Financial Holdings Pty Limited

    Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Macquarie Financial Holdings Pty Limited and other ratings that are associated with the same analytical unit. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.

  • Equity trading to only get bloodier in Europe after Macquarie exit
    Reuters

    Equity trading to only get bloodier in Europe after Macquarie exit

    Macquarie Group's sudden exit from European and U.S. equity trading may just be the start of a large-scale retreat from the once-thriving business, as all but the biggest global banks struggle to make it pay. The cash equities business - servicing investors to buy and sell shares - is going through a shakeout as falling trade volumes and costly regulations bite. The changes have led to razor-thin margins at best and made it difficult for smaller rivals to compete with the leading Wall Street powerhouses such as JPMorgan , Goldman Sachs and Morgan Stanley .

  • Australia's Macquarie posts record first-half on trading, asset management gains
    Reuters

    Australia's Macquarie posts record first-half on trading, asset management gains

    Australian investment bank Macquarie Group Ltd posted a record first-half profit on Friday, driven by higher fees from its managed funds, but revealed a slump in traditional banking takings and forecast a weaker annual result. The bank's profit for the six months ending Sept. 30 rose to A$1.46 billion ($1.01 billion), a better-than-promised 11.2% jump despite a slump in M&A fees and losses from investments. The result benefited from Macquarie's diversified strategy, which allows it to offset underperformance in its traditional investment banking and advisory units with growth in its fund management businesses.

  • Reuters

    UPDATE 3-Australia's Macquarie to scale back U.S., European equities businesses

    Australian investment bank Macquarie Group said on Tuesday that it will scale back its cash equities businesses in most areas outside the Asia Pacific region as tougher regulations bite. The bank, which employs about 700 people in cash equities, is expected to cut 100 jobs in London and New York, a source with direct knowledge of the matter told Reuters, adding that it will have "smaller teams" in those locations to support its core Asia Pacific businesses.

  • Here's What Macquarie Group Limited's (ASX:MQG) P/E Ratio Is Telling Us
    Simply Wall St.

    Here's What Macquarie Group Limited's (ASX:MQG) P/E Ratio Is Telling Us

    Today, we'll introduce the concept of the P/E ratio for those who are learning about investing. We'll look at...

  • Business Wire

    Macquarie Capital Makes Four Senior Appointments to Enhance Leveraged Finance Business

    NEW YORK-- -- Vincent Repaci to head asset-based lending group as Managing Director Matt Magnuson named Managing Director, Head of Credit Analytics Chad Hersch, Jodi Joskowitz appointed to senior trading, sales roles Macquarie Capital, the corporate advisory, capital markets and principal investment arm of Macquarie Group , today announced that it has appointed Vincent Repaci as Managing Director and ...

  • Here's Why I Think Macquarie Group (ASX:MQG) Is An Interesting Stock
    Simply Wall St.

    Here's Why I Think Macquarie Group (ASX:MQG) Is An Interesting Stock

    Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...

  • Sinochem unit discussing blockchain platform with Shell, Macquarie - sources
    Reuters

    Sinochem unit discussing blockchain platform with Shell, Macquarie - sources

    Sinochem Energy Technology Co Ltd, a subsidiary of state oil and chemicals firm Sinochem Group, is in talks with Royal Dutch Shell and Macquarie Group to build an energy blockchain platform, three Beijing-based industry sources said. Shell and Macquarie entered a memorandum of understanding in July to explore building a blockchain platform for crude oil, one of the Sinochem unit's incubator projects with growth potential, said one of the sources who has direct knowledge of the matter. Shell and Macquarie both declined to comment.

  • Reuters

    Sinochem unit discussing blockchain platform with Shell, Macquarie -sources

    Sinochem Energy Technology Co Ltd, a subsidiary of state oil and chemicals firm Sinochem Group, is in talks with Royal Dutch Shell and Macquarie Group to build an energy blockchain platform, three Beijing-based industry sources said. Shell and Macquarie entered a memorandum of understanding in July to explore building a blockchain platform for crude oil, one of the Sinochem unit's incubator projects with growth potential, said one of the sources who has direct knowledge of the matter. Shell and Macquarie both declined to comment.

  • Bloomberg

    Tiny Japan Firm Helps to Crack Code for Next-Gen Computer Chips

    (Bloomberg) -- Chipmakers have spent two decades pouring investment into a revolutionary new technique to push the limits of physics and cram more transistors onto slices of silicon. Now that technology is on the cusp of going mainstream, thanks to a secretive Japanese company that’s mastered the skill of manipulating light for applications from squid fishing to cinema projection.Ushio Inc. announced July it had cleared a key milestone, perfecting the powerful, ultra-precise lights needed to test chip designs based on extreme ultraviolet lithography or EUV, the process through which the next generation of semiconductors will be made. With that, the Japanese company became a major player in future chipmaking.“The infrastructure is now mostly ready,” Chief Executive Officer Koji Naito said in an interview. “Testing equipment was one of the things holding back EUV. With that piece in place, production efficiency and yields can go up.”Read more: How an Obscure Rubber Company Became a Linchpin of Tech IndustryUshio’s advances cement its position among a coterie of little-known Japanese companies indispensable to the production of the world’s consumer electronics. The Tokyo-based company developed a light source for equipment used to test what are known as masks: glass squares slightly bigger than a CD case that act as a stencil for chip designs. These templates have to be absolutely perfect, as even a tiny defect in one of them can render every chip in a large batch unusable.That’s where Ushio comes in. Its technology uses lasers to vaporize liquid tin into plasma and produce light closer in wavelength to X-rays than the spectrum visible to the human eye. That light helps chipmakers spot potential defects in the product. This process takes a room-sized machine that looks like a sci-fi death ray and requires a team of people to operate. After 15 years in development, the EUV business will start contributing to profit from the next fiscal year, Naito said, without giving further details.The move to EUV is the culmination of a decades-old trend. The push for smaller geometries that started when integrated circuits replaced vacuum tubes in the 1970s is approaching its final stages, and the number of companies that can compete in that space has been whittled down to a handful. Only Intel Corp., Samsung Electronics Co. and Taiwan Semiconductor Manufacturing Co. have plans to use EUV to go smaller than the 7-nanometer processes that are the current cutting edge of CPU design. All three will use lithography machines from ASML Holding NV, and for a few specialist suppliers like Ushio, that means a chance to have a 100% share of their respective markets.“We don’t chase the mass market, even though there is potentially a ton of money to be made in home lighting or automotive,” Naito said. “Instead, we want to focus on niche areas and do things that others can’t.”Naito believes Ushio is positioned to control the market for light sources used in testing of patterned EUV masks, while a small group of fellow Japanese companies specialize in other aspects of the technology. JSR Corp. and Tokyo Ohka Kogyo Co., for instance, control production of the light-sensitive resins required to print the designs, while the blank masks are made by only two companies, AGC Inc. and Hoya Corp., which both use Lasertec Corp.’s machines to test for flaws. All are based in the greater Tokyo area and espouse an almost artisanal commitment to high-precision manufacturing.Why Japan and South Korea Have Their Own Trade War: QuickTakeThe fact that much of the EUV supply chain hails from a single country was seized upon by Japan in its trade spat with South Korea. Tokyo slapped export restrictions on key materials heading to Korea, giving undesired attention to companies that prefer to operate behind the scenes. While Ushio’s machines were not targeted, photo-resists made by JSR and Tokyo Ohka made the sanctions list. The government has since relented, but concern lingers that the industry’s delicate balance may be again disrupted in the future.“There hasn’t been a direct impact for us yet,” Naito said. “But because we have such a high market share for our products, we feel a responsibility to absolutely make sure our customers’ production lines do not stop.”Alongside its EUV ambitions, Ushio commands an 80% share of the market for lithography lamps used to make liquid crystal displays and controls 95% of the supply of excimer lamps used in silicon wafer cleaning. The key to its success is balancing mass production with craftsmanship. Materials like quartz glass are difficult to handle and have different thermal expansion properties from metals like the molybdenum in which they are housed. Some of the lamps still have to be finished by hand.“Wherever you have a manufacturing process that needs to shine a very bright light, you will find Ushio,” said Damian Thong, an analyst at Macquarie Group Ltd.Ushio’s expertise also extends beyond semiconductors. Founded in 1964, it was the first Japanese company to develop and produce halogen lamps. From 1973, fishermen began to use its lights to catch squid -- -- a controversial technique in many countries. Finding new uses for its technology, from tanning salons to movie projectors, helped Ushio more than triple its sales over the past 25 years. The company is now experimenting with the use of sodium lamps to nurture plants and using ultraviolet light calibrated to such a precise wavelength as to kill bacteria without damaging human skin.“For Japanese firms with strong legacy manufacturing technology, the bigger danger is being trapped in them,” Thong said. “You have to give Ushio credit for moving further downstream, away from manufacturing toward something that requires more system integration.”To contact the reporters on this story: Pavel Alpeyev in Tokyo at palpeyev@bloomberg.net;Yuki Furukawa in Tokyo at yfurukawa13@bloomberg.netTo contact the editors responsible for this story: Edwin Chan at echan273@bloomberg.net, Vlad SavovFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • U.S. Firms Steer Clear of Europe's Big Mobile Tower Sell-Off
    Bloomberg

    U.S. Firms Steer Clear of Europe's Big Mobile Tower Sell-Off

    (Bloomberg) -- European phone companies are selling their mobile masts and growth-hungry U.S. tower companies have money to spend -- it looks like a marriage made in heaven.Instead, firms like American Tower Corp. and Crown Castle International Corp. are largely staying away, making it easier for Spain’s Cellnex Telecom SA and infrastructure funds managed by Macquarie Group Ltd., KKR & Co. and others to sweep up the region’s tower assets.Their hesitation is driven partly by price: the global hunt for yield has driven up the premium for these assets, which offer reliable, steady income streams. Independent tower companies also won’t pay top dollar unless they see a path to significant revenue growth -- and that’s where they have a problem with Europe.“The American tower companies say, ‘OK, Europe is fine at the right price, but prices are not where we need them to be, so we think the opportunities elsewhere are more attractive,”’ said Nick Del Deo, senior analyst at U.S. research firm MoffettNathanson.Tens of thousands of European masts are expected to see ownership changes in the next two years as companies such as Iliad SA, Vodafone Group Plc and Telecom Italia SpA bring in new investors to reduce debt and share the heavy cost of rolling out 5G technology.But only a quarter are likely to end up with independent operators, according to TowerXchange. Vodafone and CK Hutchison Holdings Ltd. are creating separate units for almost 90,000 towers and the consultancy expects them to maintain control over those businesses. That’s a turn-off for independent companies, which try to maximize revenue by leasing mast space to as many network operators as possible.Many European carriers want to keep some hold on their towers because they see mobile infrastructure as a strategic asset that can help them manage costs and perhaps gain a competitive edge. They’re also mindful of what happened in the U.S., where operators rushed to sell their towers more than a decade ago only to find themselves stuck with a big bill for leases and capacity rights.Vodafone Surges on Possible IPO, Stake Sale of Towers UnitVodafone and Telefonica Ink 5G Terms in Move to U.K. Tower SalesNiel Agrees to $3 Billion of Phone Tower Sales to CellnexCK Hutchison to Separate Out European Phone Towers BusinessSelling full ownership of towers to independent players can spur innovation and reduce expenses by encouraging carriers to share infrastructure, avoiding costly duplication. European carriers’ insistence on maintaining control means the continent’s progress in rolling out 5G will likely continue to be slower compared to the U.S., where towers are largely in independent hands.“There is a risk that the European carriers go too far the other way,” Del Deo said. “The captive tower model, if you look globally, has never proven to be that effective.”For now, American Tower is mostly relying on building towers in Africa, Latin America and India for its international growth.Crown Castle didn’t respond to a request for comment on its future European asset bidding plans. American Tower declined to comment. Its chief executive officer, James Taiclet, told analysts last month that recent large European tower sales didn’t meet its bar for growth prospects and asset costs.Here are some other reasons why U.S. tower firms aren’t piling into Europe:Redundancy: Europe has more cases of towers operated by rival carriers sitting in close proximity. An independent owner may want to remove one to cut costs, but the tower often comes with a ground lease that they must keep paying for years.Less Potential: Europe has lots of rooftop antenna sites, which can’t accommodate as many customers as can a ground-based tower. Many European portfolios include broadcast towers in rural areas that may not be as valuable as mobile towers.Radio Emission Rules: In some countries, rules on maximum electromagnetic radio emissions limit the number of antennas a tower firm can install at a single site.\--With assistance from Scott Moritz.To contact the reporter on this story: Thomas Pfeiffer in London at tpfeiffer3@bloomberg.netTo contact the editors responsible for this story: Kenneth Wong at kwong11@bloomberg.net, Jennifer Ryan, Anthony PalazzoFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Macquarie finalises $675 million capital raising at small discount
    Reuters

    Macquarie finalises $675 million capital raising at small discount

    Australian investment bank Macquarie Group finalised its biggest ever capital raising of A$1 billion ($675.4 million) on Thursday at a small discount to its stock's closing price before the deal was launched. The final price of A$120 per share was 2.8% below the close on Tuesday, which, according to two investment banking sources, marks the smallest discount for a capital raising over A$800 million in Australian corporate history. The placement will increase Macquarie's total number of outstanding shares by about 2.5%.

  • Reuters

    UPDATE 2-Macquarie finalises $675 mln capital raising at small discount

    Australian investment bank Macquarie Group finalised its biggest ever capital raising of A$1 billion ($675.4 million) on Thursday at a small discount to its stock's closing price before the deal was launched. The final price of A$120 per share was 2.8% below the close on Tuesday, which, according to two investment banking sources, marks the smallest discount for a capital raising over A$800 million in Australian corporate history. The deal had a price guidance of A$118 to A$123.50.

  • Australia's Macquarie to raise $675 million for renewables, tech investment
    Reuters

    Australia's Macquarie to raise $675 million for renewables, tech investment

    Australian investment bank Macquarie Group Ltd has targeted A$1 billion ($675.4 million) in its biggest capital raising to ramp up investment and take advantage of expected asset price growth in renewable energy, infrastructure and tech. The raising comes just three months after Macquarie reported A$5 billion in excess capital, prompting UBS analysts to question the need to sell shares while Goldman Sachs analysts called the exercise a "surprise". The bank is offering shares to institutional investors priced A$118 to A$123.5 each, two people with direct knowledge of the matter told Reuters.

  • By 2H of 2020, Yuan Will Be at 6.80 to the Dollar: Macquarie’s Le
    Bloomberg

    By 2H of 2020, Yuan Will Be at 6.80 to the Dollar: Macquarie’s Le

    Nov.26 -- Trang Thuy Le, emerging Asia FX strategist at Macquarie Group, discusses China’s growth indicators, the yuan and her outlook for Asian currencies. She speaks on “Bloomberg Markets: Asia.”