Our Algo Engine triggered a buy signal in MQG near the recent low of $82.28.
During an outlook update provided to the market, MQG re-affirmed guidance for its FY18 result to be broadly in line with FY17. Management noted that, strong revenues in the FUM business will help underpin FY18 earnings.
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FY18 cash earnings of $2.3b, EPS $6.70 and DPS $4.70, represents 3 – 5% earnings growth on FY17 and places the stock on a forward yield of 5.4%.
There appears to be short-term upside price momentum from the recent signal, however, stop losses below the $82.28 low are advised.
