Hargreaves Lansdown (HL.)

Sector:

Financials

Index:

FTSE 100

863.60p
   
  • Change Today:
      0.20p
  • 52 Week High: 1,457.50p
  • 52 Week Low: 740.80p
  • Currency: UK Pounds
  • Shares Issued: 474.32m
  • Volume: 762,262
  • Market Cap: £4,096.22m
  • RiskGrade: 176

Jefferies downgrades Hargreaves Lansdown on valuation

By Michele Maatouk

Date: Monday 23 Jul 2018

LONDON (ShareCast) - (Sharecast News) - Hargreaves Lansdown was under pressure on Monday as Jefferies downgraded the stock to 'underperform' from 'hold' on valuation grounds, saying the shares currently look overvalued.
"Even including 2019e total forecast dividend of 51.1p we have close to 15% downside from the current share price," Jefferies said.

In a note on asset managers and in light of last week's news that the Financial Conduct Authority is considering banning online investment platforms such as Hargreaves from charging exit fees, the bank pointed out that HL does not benefit greatly from exit fees.

"The point about HL is that in fact very few clients leave and therefore it is safe to assume that a fraction of a percent of revenue is derived from exit fees. On the negative side, we could say that anything that promotes greater switching is negative for HL's rating.

"We have always stated that its premium rating is in part explainable by the fact its clients are highly persistent. But on the positive side HL, given that it actually gains market share, is a beneficiary of industry transfers."

As far as the company's full-year results in August are concerned, Jefferies - which has a 1,650p price target on HL - expects reported pre-tax profit of £293.2m for 2018, up 9.5% year-on-year, and assets under management of £92.6bn.

At 1120 BST, the shares were down 1.8% to 2,085p.





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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.

 

HL. Market Data

Currency UK Pounds
Share Price 863.60p
Change Today 0.20p
% Change 0.02 %
52 Week High 1,457.50p
52 Week Low 740.80p
Volume 762,262
Shares Issued 474.32m
Market Cap £4,096.22m
RiskGrade 176

HL. Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
36.88% below the market average36.88% below the market average36.88% below the market average36.88% below the market average36.88% below the market average
64.52% below the sector average64.52% below the sector average64.52% below the sector average64.52% below the sector average64.52% below the sector average
Price Trend
28.37% below the market average28.37% below the market average28.37% below the market average28.37% below the market average28.37% below the market average
22.73% below the sector average22.73% below the sector average22.73% below the sector average22.73% below the sector average22.73% below the sector average
Income
34.80% above the market average34.80% above the market average34.80% above the market average34.80% above the market average34.80% above the market average
41.03% below the sector average41.03% below the sector average41.03% below the sector average41.03% below the sector average41.03% below the sector average
Growth
96.98% above the market average96.98% above the market average96.98% above the market average96.98% above the market average96.98% above the market average
96.67% above the sector average96.67% above the sector average96.67% above the sector average96.67% above the sector average96.67% above the sector average

What The Brokers Say

Strong Buy 7
Buy 1
Neutral 10
Sell 0
Strong Sell 3
Total 21
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

HL. Dividends

  Latest Previous
  Final Interim
Ex-Div 22-Sep-22 03-Mar-22
Paid 24-Oct-22 01-Apr-22
Amount 27.44p 12.26p

Trades for 25-Nov-2022

Time Volume / Share Price
17:01 4,150 @ 852.09p
17:01 4,150 @ 852.26p
16:59 5,140 @ 855.89p
16:45 181 @ 859.00p
16:45 181 @ 859.00p

HL. Key Personnel

CEO Christopher Hill
CFO Amy Stirling

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