FlexiGroup's Australian and New Zealand Credit Cards to be A Key Driver of Future Growth
Our fair value estimate for no-moat FlexiGroup remains unchanged at AUD 1.90 following a change of analyst coverage. Our fair value estimate implies a forward 2018 price/earnings ratio of 8.4 times, and fully franked dividend yield of 4.2%. FlexiGroup’s share price is currently trading in line with our fair value.Our net profit after tax, or NPAT, forecast for fiscal 2018 is AUD 85 million, and remains at the lower end of management guidance of between AUD 85 to 90 million. Management is in the...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
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