Analysts forecast revenue increase, assets growth, EPS decline, and dividend raise for Hargreaves Lansdown in H1 2024. Key focus on new CEO strategy and technology spend.
Hargreaves Lansdown is set to announce its financial results for the first half of fiscal 2024. Here is a breakdown of what to expect:
The London-listed retail-investment platform is anticipated to reveal a surge in revenue for the first six months, reaching £367.8 million ($464.2 million) as per analysts surveyed by Visible Alpha. This is an increase from the previous year's £350 million.
Total assets under administration are projected to escalate to £134.3 billion from £127.1 billion during the same period last year, based on Visible Alpha's consensus estimate.
Analysts foresee a decline in first-half earnings per share to 31.1 pence, down from 33.1 pence, according to Visible Alpha.
Anticipated raise in the interim dividend payout to 14.12 pence per share from 12.70 pence per share for the first half of fiscal 2023, as indicated by Visible Alpha.
Despite a 7% decrease in shares over the past 12 months, the stock has seen an 8.7% rise since the beginning of 2024.
New CEO's Strategy:
This reporting period presents an important opportunity for the new Chief Executive, Dan Olley, to outline his vision regarding the company's strategy post-February 2022 and subsequent changes. Analysts at Barclays highlight the significance of strategic clarity as a potential catalyst for the stock, which is currently trading below long-term multiples.
Technology Spend and Cost Savings:
UBS analysts suggest that Hargreaves may provide additional insights on technology expenditures and cost-cutting initiatives. The ongoing fiscal program from 2022 to 2026 aims to achieve £55 million in savings.
Stay tuned for the latest updates on Hargreaves Lansdown's performance in the upcoming report.
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