Schroders (SDR)

Sector:

Financials

Index:

FTSE 100

370.80p
   
  • Change Today:
    -2.60p
  • 52 Week High: 464.60
  • 52 Week Low: 347.20
  • Currency: UK Pounds
  • Shares Issued: 1,612.07m
  • Volume: 1,246,139
  • Market Cap: £5,978m
  • RiskGrade: 108

Citigroup downgrades Schroders as it forecasts drop in 2016 EPS

By Michele Maatouk

Date: Friday 04 Mar 2016

LONDON (ShareCast) - (ShareCast News) - Shares in asset manager Schroders slumped on Friday as Citigroup downgraded the stock to 'neutral' from 'buy'.
The bank continues to like Schroders' diversified assets under management mix, growth potential and ability to cope with regulatory hurdles.

However, on a 12-month view, challenging markets and the company's "commendable commitment" to investing in its future mean Citi forecasts a 5% drop in earnings per share this year.

"We downgrade SDR today to reflect our more conservative expectations for earnings and our view that the current valuation adequately reflects this."

The bank pointed out that the rating change was not related to the announcement on Thursday that chief executive Michael Dobson would step down from his role but stay on as chairman.

He will be replaced by Peter Harrison, who is head of investment.

"Whilst Dobson's departure is the end of an era, we see Peter Harrison as experienced and well qualified," said Citi.

"If there is a definition of an orderly CEO handover then this is it, in our view."

However, news of the handover did not go down as well in the City, with business lobby groups accusing Schroders of violating the UK code of governance, which recommends firms only switch a chief executive to the supposedly independent role of chairman in exceptional circumstances.

According to the code, a company should also explain to its shareholders why it has done so.

At 1005 GMT, Schroders shares were down 3.5% to 2,643p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Schroders Market Data

Currency UK Pounds
Share Price 370.80p
Change Today -2.60p
% Change -0.70 %
52 Week High 464.60
52 Week Low 347.20
Volume 1,246,139
Shares Issued 1,612.07m
Market Cap £5,978m
RiskGrade 108

Schroders Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
85.66% above the market average85.66% above the market average85.66% above the market average85.66% above the market average85.66% above the market average
29.63% above the sector average29.63% above the sector average29.63% above the sector average29.63% above the sector average29.63% above the sector average
Price Trend
55.52% below the market average55.52% below the market average55.52% below the market average55.52% below the market average55.52% below the market average
44.83% below the sector average44.83% below the sector average44.83% below the sector average44.83% below the sector average44.83% below the sector average
Income
78.06% above the market average78.06% above the market average78.06% above the market average78.06% above the market average78.06% above the market average
27.27% above the sector average27.27% above the sector average27.27% above the sector average27.27% above the sector average27.27% above the sector average
Growth
93.43% below the market average93.43% below the market average93.43% below the market average93.43% below the market average93.43% below the market average
87.16% below the sector average87.16% below the sector average87.16% below the sector average87.16% below the sector average87.16% below the sector average

What The Brokers Say

Strong Buy 1
Buy 2
Neutral 6
Sell 4
Strong Sell 0
Total 13
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Schroders Dividends

  Latest Previous
  Final Interim
Ex-Div 21-Mar-24 17-Aug-23
Paid 02-May-24 21-Sep-23
Amount 15.00p 6.50p

Trades for 14-Jun-2024

Time Volume / Share Price
16:35 30,359 @ 370.80p
16:35 747,999 @ 370.80p
16:35 1 @ 370.80p
16:35 4,901 @ 370.80p
16:35 19,758 @ 370.80p

Schroders Key Personnel

CFO Richard Oldfield

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