Citi trims earnings estimates, PT on Australia's McMillan Shakespeare

McMillan Shakespeare

15/11/2023 19:36

** Analysts at Citi lowers PT on Australia's salary
packaging services provider McMillan Shakespeare  MMS.AX  to
A$20.50 from A$20.70
    ** Brokerage cuts EBITDA forecasts in the range of 6-9% on
company's plan and support services segment across FY24 to FY26
    ** Estimates cut on the back of a reflection in lower plan
renewal fees and a slower participant growth outlook
    ** Brokerage trims net profit after tax estimate by 1%
across FY24-FY26
    ** Citi, however, maintains "buy" rating on stock
    ** Stock up 34.2% this year, as of last close

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))