MXG - Multiplex Group
- Thread starter el_ninj0
- Start date
-
- Tags
- multiplex group mxg
doctorj
Hatchet Moderator
- Joined
- 3 January 2005
- Posts
- 3,271
- Reactions
- 8
Re: MXG
With the history of sport stadium projects around the world and MXG writedown of their project at Wembley to break even after telling investors justh how great it was going to be a month ago, understandably the market is a little upset at MXG.
Sunday Times in WA had it listed as a "buy" this week, I can't claim to be quite so confident in the near term.
With the history of sport stadium projects around the world and MXG writedown of their project at Wembley to break even after telling investors justh how great it was going to be a month ago, understandably the market is a little upset at MXG.
Sunday Times in WA had it listed as a "buy" this week, I can't claim to be quite so confident in the near term.
Re: MXG looks strong
Its already bounced back today to a degree. It was down to $4.22 on monday, I would have invested then, but I was in the process of pulling out of MUL. Definetely a strong company and worth investing in. Not as stable as MAP though.
Its already bounced back today to a degree. It was down to $4.22 on monday, I would have invested then, but I was in the process of pulling out of MUL. Definetely a strong company and worth investing in. Not as stable as MAP though.
Re: MXG looks strong
volume has been alot higher today for it, so things are looking up. I made a few dollars off them when they first dropped and them went back up. Sold before they crashed again. But i agree, they should be back up at around $5 within a month I think.
volume has been alot higher today for it, so things are looking up. I made a few dollars off them when they first dropped and them went back up. Sold before they crashed again. But i agree, they should be back up at around $5 within a month I think.
- Joined
- 17 November 2004
- Posts
- 333
- Reactions
- 2
Re: MXG looks strong
Personaly i like MXG..and MGX must be the X Factor
Personaly i like MXG..and MGX must be the X Factor
- Joined
- 27 January 2005
- Posts
- 20
- Reactions
- 0
Re: MXG looks strong
Hi..Anyone know what the reasons were that caused the price to fall about $1 in early jan and again in mid feb 2005?
Hi..Anyone know what the reasons were that caused the price to fall about $1 in early jan and again in mid feb 2005?
Re: MXG looks strong
After an initial selloff this morning, MXG found good support at $4.25 and the buy side depth has strengthened considerably in the last hour.
Price has pushed back over $4.30 on solid volume, including a one million share cross trade.
Keep an eye on this one.
After an initial selloff this morning, MXG found good support at $4.25 and the buy side depth has strengthened considerably in the last hour.
Price has pushed back over $4.30 on solid volume, including a one million share cross trade.
Keep an eye on this one.
Re: MXG looks strong
http://au.biz.yahoo.com/050224/19/3h8k.html
Take a look at this:Bodhi2500 said:
http://au.biz.yahoo.com/050224/19/3h8k.html
Re: MXG looks strong
Multiplex Offers 21.3% Potential Upside, Merrills Says
Wednesday March 23, 2005, 9:32 am
The analysts at Merrill Lynch have upgraded their recommendation on Multiplex (ASX: MXG.ax) to Buy, Medium Risk, while pointing to 21.3% potential upside in the stock.
At current levels the analysts feel the share price has overreacted to issues highlighted in the first half result, including Wembley Stadium, concluding that risks to their view are typical of the industry groups in which the company operates, namely construction, development and residential communities.
Merrill Lynch’s valuation methodology results in a target of $4.85 on the stock.
However, this positive stance is not supported by all the country’s leading brokers and analysts.
UBS, Macquarie and Aspect Huntley all have positive recommendations on the stock, CSFB rates it a Neutral, while GSJB Were, Citigroup and Deutsche Bank rate the stock a Sell.
Multiplex Offers 21.3% Potential Upside, Merrills Says
Wednesday March 23, 2005, 9:32 am
The analysts at Merrill Lynch have upgraded their recommendation on Multiplex (ASX: MXG.ax) to Buy, Medium Risk, while pointing to 21.3% potential upside in the stock.
At current levels the analysts feel the share price has overreacted to issues highlighted in the first half result, including Wembley Stadium, concluding that risks to their view are typical of the industry groups in which the company operates, namely construction, development and residential communities.
Merrill Lynch’s valuation methodology results in a target of $4.85 on the stock.
However, this positive stance is not supported by all the country’s leading brokers and analysts.
UBS, Macquarie and Aspect Huntley all have positive recommendations on the stock, CSFB rates it a Neutral, while GSJB Were, Citigroup and Deutsche Bank rate the stock a Sell.
Re: MXG looks strong
Anyone else think this one has been oversold?
First there was the Wembley project debacle, then there were the threats to shoot the crane operators.
Lately of course, it has been battered by the recent downturn in the market.
My view is that all of the bad news has already been factored into MXG's stock price and if market conditions improve in the short term we may see a bit of a turnaround.
A solid international focus and plenty of quality projects on the go, this may be one to investigate further for those taking a long term view.
Just my opinion though. Please do your own research.
Anyone else think this one has been oversold?
First there was the Wembley project debacle, then there were the threats to shoot the crane operators.
Lately of course, it has been battered by the recent downturn in the market.
My view is that all of the bad news has already been factored into MXG's stock price and if market conditions improve in the short term we may see a bit of a turnaround.
A solid international focus and plenty of quality projects on the go, this may be one to investigate further for those taking a long term view.
Just my opinion though. Please do your own research.
Re: MXG looks strong
I do not hold, but I agree that it has been oversold. It was dumped along with mirvac after mirvac's downgrade and the soft appartment starts figures. However, I read somewhere (fin review?) that only 15% of it's earnings (or portfolio or something) was from apartments.
I do not hold, but I agree that it has been oversold. It was dumped along with mirvac after mirvac's downgrade and the soft appartment starts figures. However, I read somewhere (fin review?) that only 15% of it's earnings (or portfolio or something) was from apartments.
Re: MXG looks strong
I don't know the answer, but
1. Could there be tax advantages?
2. Could it be to reassure the market (which has happened), because a bank cannot come in and send to the receivers (ala SGW, ION, and a small example SSS)? (If mxg starts to look shaky, the bond price will drop and yeild will go up, particularly on the lesser rated bonds).
Basically, it doesn't matter why. The market has no objections as the SP is going up.
I don't know the answer, but
1. Could there be tax advantages?
2. Could it be to reassure the market (which has happened), because a bank cannot come in and send to the receivers (ala SGW, ION, and a small example SSS)? (If mxg starts to look shaky, the bond price will drop and yeild will go up, particularly on the lesser rated bonds).
Basically, it doesn't matter why. The market has no objections as the SP is going up.
- Joined
- 15 September 2004
- Posts
- 364
- Reactions
- 2
Re: MXG looks strong
Looks to me as if the Bank wants its money back. The detail of the loan arrangement would shed some light as to what/how this was triggered - either by Multiplex or the banks. The bank may not be happy with the rate that its getting for its risk or Multiplex may not be happy with the rate its paying. Or maybe the bank just needs the its capital?? Has there been a change in Multiplex's circumastances that triggered the event?
...... After looking into it a bit further its seems as if this relates to the announcement made on the 3rd March regarding funding arrangements. It has been triggerd by the aquisition of the Ronin Property Group.
It appears as if the banks involved have provided bridging finance and were intending to issue the debt onto the debt market. The reason for doing this on the companies side could be to access capital at cheaper rates or have access to more flexible financing for further developments (ie just issue more CMBS) without having to negotiate on terms (ie with a bank).
Using the debt market to access debt rather than through banks has been a growing trend for corporations over the last few decades. You would have to look at the interest rates of the securities being issued compared to its current financing to see whether multiplex is materially better/worse off (im sure it will be only a small change either way)
TJ
skin said:
Looks to me as if the Bank wants its money back. The detail of the loan arrangement would shed some light as to what/how this was triggered - either by Multiplex or the banks. The bank may not be happy with the rate that its getting for its risk or Multiplex may not be happy with the rate its paying. Or maybe the bank just needs the its capital?? Has there been a change in Multiplex's circumastances that triggered the event?
...... After looking into it a bit further its seems as if this relates to the announcement made on the 3rd March regarding funding arrangements. It has been triggerd by the aquisition of the Ronin Property Group.
It appears as if the banks involved have provided bridging finance and were intending to issue the debt onto the debt market. The reason for doing this on the companies side could be to access capital at cheaper rates or have access to more flexible financing for further developments (ie just issue more CMBS) without having to negotiate on terms (ie with a bank).
Using the debt market to access debt rather than through banks has been a growing trend for corporations over the last few decades. You would have to look at the interest rates of the securities being issued compared to its current financing to see whether multiplex is materially better/worse off (im sure it will be only a small change either way)
TJ
- Joined
- 15 September 2004
- Posts
- 364
- Reactions
- 2
Re: MXG looks strong
This sounds pretty right to me, the rating agencies will now be the assesors of risk held by bondholders rather than the banks being the assesors of their own risk at, their own terms. And the bondholders wont be able to trigger a repayment of their debt at anywhere near the same terms as the banks can.
TJ
markrmau said:
This sounds pretty right to me, the rating agencies will now be the assesors of risk held by bondholders rather than the banks being the assesors of their own risk at, their own terms. And the bondholders wont be able to trigger a repayment of their debt at anywhere near the same terms as the banks can.
TJ
Similar threads
