Suncorp-Metway

Suncorp Metway (SUN)

Stock Code

SUN

Stock Exchange

ax

Suncorp-Metway Limited (SUN) is an Australian-based financial services group engaged in the provision of banking, superannuation, insurance, retail services, funds management products and corporate and commercial sector services. SUN was listed on the Australian Stock Exchange on the 7th of July 1988. Its average annual revenue reaches approximately $7 billion out of its issued capital of approximately $2 billion. Its headquarters is located in Brisbane, Australia and to date; around 16,000 people are employed in the company.

Suncorp-Metway Dividends

9 August, 2010 - 22:48

Study the historical dividends for SUNCORP-METWAY LIMITED.. Dividends are a portion of company profits paid out to shareholders. You are eligible to receive SUN dividends if you own the company's stock on the ex-dividend date. Investor's must have purchased the stock before the ex dividend date to be entitled to the dividend. The previous owner of the shares will receive the SUN dividend if you buy the stocks on or after the ex dividend date. The Pay Date or the Date Payable is the day when the dividend is paid to shareholders.

Aquarius Platinum: Winner of ASX100


Aquarius Platinum (AQP), a company that is engaged in exploration, development and acquisition of platinum group metals was the best performing stocks in ASX100 index for the 32nd week that saw a rise of 15.4 percent or 77 cents in its stock price closing the week at $5.74.

Suncorp to Raise $900 Million as CEO Departs


Suncorp (SUN) CEO John Mulcahy has announced that, after six years leading the group, he will step down from his current role – at the same time as the group slashed its profit forecast and unveiled a capital raise of up to $1.302 billion. The shares were placed in a trading halt at A$7.13 yesterday, which compares with the underwritten part of its offer at $4.50 apiece to raise $900m – a 37% discount. The group said it could also raise a further $402m via an offer to retail shareholders.

Australian Banking Sector Update


Here is an Australian banking sector update from Australian market analyst UBS.

Labor Govt keeps the Four Pillars Policy

Rudd Government is committed to the four pillars policy:

Suncorp-Metway Limited (SUN) Review


Suncorp-Metway Limited (SUN) has retained a $15.00 share price target and has a medium risk to buy from Australian stockmarket analysts from Citi.

Suncorp-Metway Ltd: Value Looks Appealing as Guidance Reiterated

Upgrade to BUY, slightly lower EPS — We roll forward our mark to market, and allow for higher bad debt charges and make the following EPS adjustments, FY08E: -5%; FY09E: -1%; FY10E: -2%. With risks seemingly priced in and guidance largely reiterated, we lift our recommendation from Hold, Medium Risk to Buy, Medium Risk, retaining our A$15.00 target price.

Australian Banking Sector Update


Here is an update on the Australian banking sector provided by Australian market analyst UBS.

Australian Banking Sector- Credit growth - is this the tipping point?

March credit growth: 0.8%: business 0.9%, personal -0.2%, housing 0.8%:

March system credit grew at 0.8%; driven by: (1) good headline growth in business lending 0.9%, although higher due to Feb revision down from 0.5% to 0.3%, (2) sharp slowing in personal credit growth - .2%, the second negative month this yr, (3) housing credit growth stable at 0.8%, with non-banks share continuing to slow.

Insurance Sector Update


Here is an insurance sector update from Australian market analyst UBS.

Insurance Sector

108 profitability better, cost inflation up
Gross underwriting margins improving in personal lines:

Suncorp-Metway Update


Suncorp-Metway has a $24 share price target and a retained Buy medium, Risk rating from Australian stocks analyst Citi Investment Research. Following today's update on the cost of the NSW storms the weekend before last, they lower their FY07E EPS another 3%. This is in addition to the 6% downgrade they posted last week. Suncorp's new belief is that it will hit the maximum retention for both Suncorp and Promina, whereas initially it thought the Suncorp retention was unlikely to be reached. So the new estimated loss of A$160m pre-tax is A$50m ahead of their initial expectations. This earnings downgrade reduces our spot valuation a further 3 cps to A$21.20ps but they retain our A$24.00ps target price and Buy, Medium risk call. Since its last update on 12 June, Promina's claims numbers have risen from 8,500 to 12,000, while the number of Suncorp/GIO claims is up from 3,000 to 7,000. Sentiment towards Suncorp's stock is poor but potential supports to profit include diversification benefits, the claims cost reduction project, a potential uplift to integration synergies and further reserve releases including ~A$170m pre-tax from lowering the probability of sufficiency to 90%. Add this to the strong possibility of a capital return later in the year. A catalyst for Suncorp-Metway stocks is currently lacking but may come as early as the full year results in August.

Suncorp-Metway (SUN) Stocks Recommendation


Suncorp-Metway (SUN) have an unchanged Neutral 2 shares recommendation and a steady price target of $23.20 per share from market analyst UBS. The banking company have made extensive changes to their executive management team. Suncorp-Metway have hired 3 managers from PMN (Belleville: personal insurance; Fox: WM; Bell: Vero NZ) & an external candidate (Smith: IT). Five SUN executives were retained (Foster: retail bank; McDonald: business banking; Milliner: commercial insurance; Inglis: strategy & HR; Blucher: integration), though there was a redistribution of responsibilities. PMN's West & SUN's Eilert have decided to leave new group. Today's broad restructure followed a similarly extensive redistribution of executive roles less than one year ago. Prior to that restructure, changes in the group executive were infrequent. With Blucher filling the newly created role of Integrations, we believe that management's prime focus will be on the PMN merger. (A similar role was created at the time of the GIO acquisition.) While the company today said that they would not be providing frequent synergy updates, there was a commitment to update investors on the integration progress at the FY07E result (27 August). The analyst estimates c2% FY09E EPS accretion (ex integration costs) & assuming targeted synergies of $225mn pre-tax. They valued SUN using a sum-of-the-parts methodology and estimate that SUN is trading on a 12.5x FY08E PE.

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