Hargreaves Lansdown (HL.)

Sector:

Financials

Index:

FTSE 100

956.20p
   
  • Change Today:
    -15.80p
  • 52 Week High: 1,598.00
  • 52 Week Low: 762.60
  • Currency: UK Pounds
  • Shares Issued: 474.32m
  • Volume: 590,932
  • Market Cap: £4,535.43m
  • RiskGrade: 176

Berenberg downgrades Hargreaves Lansdown to 'hold', slashes target price

By Iain Gilbert

Date: Thursday 24 Feb 2022

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg slashed their target price on financial services firm Hargreaves Lansdown from 1,700.0p to 1,250.0p and downgraded the stock to 'hold' on Thursday, stating catalysts appeared to be limited, for now.
Berenberg noted that Hargreaves Lansdown's share price was down roughly 14% since its interim results on Tuesday due to a combination of lighter-than-expected net new business and earnings per share, alongside a suspension of special dividends and a higher cost trajectory than its analysts had predicted.

The German bank said it still thinks Hargreaves Lansdown's strategic plan to future-proof the business was "logical", that the group remains "favourably exposed" to UK retail wealth structural growth trends and that its first-half results likely drove a material reset of investor expectations.

However, Berenberg highlighted that it now struggles to find a near-term catalyst to drive outperformance, given increased outlook and execution uncertainty.

"As such, although HL trades at a discount to long-run consensus multiples, on circa 20x our full-year 2024 earnings per share, we downgrade to 'hold'," concluded the analysts.

Email this article to a friend

or share it with one of these popular networks:


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 956.20p
Change Today -15.80p
% Change -1.63 %
52 Week High 1,598.00
52 Week Low 762.60
Volume 590,932
Shares Issued 474.32m
Market Cap £4,535.43m
RiskGrade 176

HL. Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
73.75% below the market average73.75% below the market average73.75% below the market average73.75% below the market average73.75% below the market average
80.95% below the sector average80.95% below the sector average80.95% below the sector average80.95% below the sector average80.95% below the sector average
Price Trend
69.94% below the market average69.94% below the market average69.94% below the market average69.94% below the market average69.94% below the market average
70.15% below the sector average70.15% below the sector average70.15% below the sector average70.15% below the sector average70.15% below the sector average
Income
32.10% above the market average32.10% above the market average32.10% above the market average32.10% above the market average32.10% above the market average
45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average
Growth
98.96% above the market average98.96% above the market average98.96% above the market average98.96% above the market average98.96% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

What The Brokers Say

Strong Buy 8
Buy 1
Neutral 6
Sell 0
Strong Sell 5
Total 20
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 17-Aug-2022

Time Volume / Share Price
17:04 1,023 @ 961.72p
17:04 12 @ 961.75p
17:04 1,023 @ 961.92p
17:04 12 @ 961.92p
16:35 243,960 @ 956.20p

HL. Key Personnel

CEO Christopher Hill
CFO Amy Stirling

Top of Page