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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Afterpay Limited    APT   AU000000APT1

AFTERPAY LIMITED

(APT)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 01/18
132.01 AUD   -0.86%
01/15Australia shares pare gains as health stocks offset U.S. stimulus boost
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01/14AFTERPAY : Grows Canadian Footprint with Expansion into Quebec
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01/12Australia shares flat as markets eye stimulus, earnings
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Australian watchdog says some buy-now-pay-later users missing payments, facing hardship

11/15/2020 | 06:43pm EST

Nov 16 (Reuters) - Australia's corporate watchdog said on Monday that one in five consumers engaged in buy-now-pay-later (BNPL) transactions were missing payments and some were facing financial hardship, as part of a wider report published on the booming industry.

Some consumers who use BNPL arrangements were cutting back on or going without essentials, or taking out additional loans to make their BNPL payments on time, the Australian Securities and Investments Commission (ASIC) said it found in its research.

Australian BNPL firms, including heavyweight Afterpay Ltd , have benefited from a shift to online shopping during the coronavirus crisis in countries including the United States, where state aid has also boosted retail sales.

The boom in the industry has also led to increasing scrutiny in the so far largely unregulated sector.

ASIC's latest report follows an earlier one released in November 2018, looking into potential implications for regulation of the sector.

During 2018–19, missed payment fee revenue for all BNPL providers in the review was over A$43 million ($31.35 million), up 38% from the previous financial year, while the number of BNPL transactions nearly doubled to 32 million in 2018-19 from 16.8 million in 2017-18, ASIC said.

"Buy now pay later arrangements are clearly popular as a payment method. While working for the majority of users, some consumers are suffering harm", ASIC added.

The regulator said changes were on the horizon that would impact the industry, with design and distribution obligations coming into effect in October next year.

Afterpay and smaller peer Zip Co Ltd said in separate statements they welcomed the report, with Afterpay adding it would participate in the Australian government's upcoming review of the regulatory architecture of the payments system. ($1 = 1.3716 Australian dollars) (Reporting by Shruti Sonal in Bengaluru; Editing by Lincoln Feast)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY LIMITED -0.86% 132.01 End-of-day quote.11.87%
OPENPAY GROUP LTD 1.27% 2.4 End-of-day quote.6.19%
ZIP CO LIMITED 2.14% 5.73 End-of-day quote.8.32%
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Financials
Sales 2021 956 M 737 M 737 M
Net income 2021 14,3 M 11,0 M 11,0 M
Net cash 2021 381 M 293 M 293 M
P/E ratio 2021 1 431x
Yield 2021 -
Capitalization 37 643 M 28 925 M 29 013 M
EV / Sales 2021 39,0x
EV / Sales 2022 24,9x
Nbr of Employees 665
Free-Float 67,4%
Chart AFTERPAY LIMITED
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Technical analysis trends AFTERPAY LIMITED
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 105,14 AUD
Last Close Price 132,01 AUD
Spread / Highest target 6,05%
Spread / Average Target -20,4%
Spread / Lowest Target -77,3%
EPS Revisions
Managers and Directors
NameTitle
Anthony Mathew Eisen Co-CEO, Executive Director & Managing Director
Nicholas David Molnar Co-CEO, Executive Director & Managing Director
Elana Rubin Independent Chairman
Frerk-Malte Feller Global Chief Operating Officer
Rebecca Lowde Chief Financial Officer
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