Morgans Blog | Morgans

Magellan Financial Group 1Q22: waiting for a turning point

07 October 2021, 8:30 AM

Magellan Financial Group (ASX:MFG) closed Sept-22 with A$113.3bn FUM, relatively flat for the quarter and down 3.9% on Aug-21. FUM composition comprised Retail FUM of A$29.9bn (down 3% for the quarter); and Institutional FUM of A$83.3bn (+0.4% for the quarter).

Swoop: Diving into Newcastle

By Nick Harris

07 October 2021, 8:00 AM

Swoop (ASX:SWP) has announced the acquisition of Newcastle based telco Countrytell. Strategically the deal makes sense and financially it is highly accretive. SWP is paying 4.2x FY22F EBITDA vs trading on ~35x (yesterdays close and excluding earnings from todays acquisitions).

Centuria Industrial REIT: Upside potential in new acquisitions

By Fiona Buchanan

06 October 2021, 9:30 AM

Centuria Industrial REIT (ASX:CIP) has announced further acquisitions valued at $351.3m which will be funded via new equity ($300m placement competed) and debt.

Whitehaven Coal: Upside price scenarios unfolding

By Tom Sartor

06 October 2021, 9:00 AM

Physical market feedback suggests that upside risk to our (conservative) base case coal price forecasts for Whitehaven Coal (ASX:WHC) will persist into 2022. Spot thermal coal prices continue to far exceed our expectations.

Baby Bunting Group: Born Ready

By Alexander Mees

06 October 2021, 8:30 AM

At its AGM, Baby Bunting Group (ASX:BBN) indicated that comp store sales growth (LFLs) strengthened to negative -1.3% for the 14 weeks to 3 October (+4.7% excluding NSW and ACT).

Retail: Australian Retail Sales: August 2021

By Alexander Mees

06 October 2021, 8:00 AM

COVID lockdowns continue to dominate the landscape when it comes to retail spending in Australia. With NSW, Victoria, and the ACT all in lockdown during August, seasonally adjusted (s/a) Australian retail sales were down -0.7% yoy and -1.7% mom to A$29.3bn. With vaccination rates climbing and lockdowns coming to an end, the outlook is improving.

Virgin Money UK: Another increase to restructuring cost guidance

05 October 2021, 10:00 AM

Virgin Money UK (ASX:VUK) have increased their FY21 restructuring cost guidance from c.£74m to c.£100m at the release of the 1H21 results, VUK last week revised this guidance to c.£145m.

Morgans Best Ideas: October 2021

By Andrew Tang

05 October 2021, 9:30 AM

New additions this month include Woodside (ASX:WPL) and Endeavour Group (ASX:EDV). Removals Coles (ASX:COL), Magellan Financial (ASX:MFG) and AusNet Services (ASX:AST).