Magellan Keeps Bear Following Disappointing Quarter

Dow Jones

07/09

0221 GMT - Magellan Financial's bear at Macquarie reiterates an underperform rating on the Australian investment manager following its disappointing June quarter. The analyst tells clients in a note that funds under management of A$36.7 billion fell short of their forecast and consensus by about 4%. This was mostly driven by weaker flows but also by fund underperformance, the analyst writes. They lower their adjusted EPS forecasts by 2.9% for the current fiscal year, by 6.8% for fiscal 2027 and by 5.6% for fiscal 2028. Macquarie cuts its target price on the stock by 5.4% to 7.00 Australian dollars. Shares are down 3.5% at A$10.165. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

July 08, 2026 22:21 ET (02:21 GMT)

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The analyst tells clients in a note that funds under management of A$36.7 billion fell short of their forecast and consensus by about 4%. This was mostly driven by weaker flows but also by fund underperformance, the analyst writes. They lower their adjusted EPS forecasts by 2.9% for the current fiscal year, by 6.8% for fiscal 2027 and by 5.6% for fiscal 2028. Macquarie cuts its target price on the stock by 5.4% to 7.00 Australian dollars. Shares are down 3.5% at A$10.165. 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The analyst tells clients in a note that funds under management of A$36.7 billion fell short of their forecast and consensus by about 4%. This was mostly driven by weaker flows but also by fund underperformance, the analyst writes. They lower their adjusted EPS forecasts by 2.9% for the current fiscal year, by 6.8% for fiscal 2027 and by 5.6% for fiscal 2028. Macquarie cuts its target price on the stock by 5.4% to 7.00 Australian dollars. Shares are down 3.5% at A$10.165. (stuart.condie@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 08, 2026 22:21 ET (02:21 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MFG.AU","symbol_name":"MAGELLAN FINANCIAL GROUP LTD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2650968910","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2650968910","pubTimestamp":1783563660,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0221 GMT - Magellan Financial's bear at Macquarie reiterates an underperform rating on the Australian investment manager following its disappointing June quarter. The analyst tells clients in a note that funds under management of A$36.7 billion fell short of their forecast and consensus by about 4%. This was mostly driven by weaker flows but also by fund underperformance, the analyst writes. They lower their adjusted EPS forecasts by 2.9% for the current fiscal year, by 6.8% for fiscal 2027 and by 5.6% for fiscal 2028. Macquarie cuts its target price on the stock by 5.4% to 7.00 Australian dollars. Shares are down 3.5% at A$10.165.  Dow Jones NewswiresJuly 08, 2026 22:21 ET Copyright  2026 Dow Jones & Company, Inc.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"MFG.AU":"MAGELLAN FINANCIAL GROUP LTD","BK7062":"资产管理与托管银行"},"translate_title":"麦哲伦在令人失望的季度后继续看跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MFG.AU":0.9},"content_text":"0221 GMT - Magellan Financial's bear at Macquarie reiterates an underperform rating on the Australian investment manager following its disappointing June quarter. The analyst tells clients in a note that funds under management of A$36.7 billion fell short of their forecast and consensus by about 4%. This was mostly driven by weaker flows but also by fund underperformance, the analyst writes. They lower their adjusted EPS forecasts by 2.9% for the current fiscal year, by 6.8% for fiscal 2027 and by 5.6% for fiscal 2028. Macquarie cuts its target price on the stock by 5.4% to 7.00 Australian dollars. Shares are down 3.5% at A$10.165. (stuart.condie@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  July 08, 2026 22:21 ET (02:21 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"-1","news_tag":"express","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}