Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James, Thanks for your excellent commentary and advice. Last year you were positive on MNY. They have since reported strong results and a positive outlook for FY22, and yet experienced a sharp fall in share price. Can you please update your opinion?
Hi Ian,
Thanks for the thumbs up, always much appreciated.
Consumer lending business MNY has struggled through 2022 but no more than many smaller companies on the ASX – its market cap is $580mn. The companies paying a solid 4.8% fully franked yield which we believe is largely sustainable as the companies earnings remain strong and although the shares keep slipping lower we like the risk reward as the shares drift towards $2.50. Our analyst at Shaw has a $4.49 PT which is pretty much aligned with the other firms that cover it – Canaccord at $4.25 & Bells at $4.60.
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