The Motley Fool

Macquarie tips Crown share price to hit $12

The Crown Resorts Ltd (ASX: CWN) share price has hit some turbulence recently on the back of news that its founder’s son and major shareholder James Packer had agreed to sell 19.99% of his stake in Crown to fellow casino magnate Lawrence Ho for $1.76 billion or around $13 per share. 

Moreover, just yesterday rival casino operator Star Entertainment Group Ltd (ASX: SGR) flagged that softer-than-expected revenue growth over the second half of FY 2019 meant that it was downgrading its full year EBITDA guidance to below that achieved in FY 2018. In so doing it also blamed falling VIP or high roller revenues which is an area Crown Melbourne is also leveraged too. 

As a result of Star’s update the Crown share price gave up 1.7% yesterday and is down a little further today to change hands for just $12.11 per share, which is only a little above the $12 valuation that financial news wires are reporting Macquarie Group Ltd (ASX: MQG) has slapped on the stock.

If Macquarie Group is on the money in its assessment then today’s buyers will have to rely on Crown’s dividend (60 cents per on a trailing basis) to deliver most of its return over the year ahead.

One ASX Stock For An Estimated $US22 Billion Marijuana Market

A little-known ASX company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.

And make no mistake – it is coming. To the tune of an estimated $US22 billion.

Cannabis legalisation is sweeping over North America, and full legalisation arrived in Canada in October 2018.

Here's the best part: we think there's one ASX stock that's uniquely positioned to profit immensely from this explosive new industry... taking savvy investors along for what could be one heck of a ride.

AND, this is the first time The Motley Fool Australia has EVER put a BUY recommendation on a marijuana stock.

Simply click below to learn more on how you can profit from the coming cannabis boom.

Click here to find out more


Motley Fool contributor Tom Richardson owns shares of Macquarie Group Limited. The Motley Fool Australia owns shares of and has recommended Crown Resorts Limited. The Motley Fool Australia has recommended Macquarie Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

FREE REPORT: Five Cheap and Good Stocks to Buy now…

Our Motley Fool experts have FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.7% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.