This Australian financial services company may be expensive at its current price but it has a solid reputation, good profit margins and significant competitive advantages, according to recent analysis.
The latest ASX activity report indicates new company listings on the ASX in June 2018 were up 2 per cent year-on-year. It has also shown there were 137 new listings in fiscal 2018, down from 152 in the prior year.
“The number of companies listed on the ASX in any given year stays fairly constant. A few list each year, and a few de-list. This was borne out by a recent report, which indicated 2285 companies were listed on the ASX as at June 2018, compared to 2239 as at June 2017.
ASX yesterday closed at $65, a 35 per cent premium to the fair value estimate of analysts at $48.