Hargreaves Lansdown to Report H1 Results, Anticipated Increase in Total Assets Under Administration
London, UK – September 17, 2024 – Leading retail-investment platform, Hargreaves Lansdown, is set to unveil its first-half fiscal 2024 results this week. Analysts are expecting positive growth, with the company’s total assets under administration predicted to rise to GBP134.3 billion, up from GBP127.1 billion recorded in the same period last year.
Decrease in Earnings Per Share Expected
While the anticipation is high for increased total assets, analysts are predicting a slight decrease in first-half earnings per share. The forecasts indicate a drop from 33.1 pence to 31.1 pence. However, this does not overshadow the overall positive expectations for the company’s financial performance.
Revenue Growth and Dividend Increase
It is anticipated that Hargreaves Lansdown will announce increased revenue for the first six months of fiscal 2024. The projection stands at 367.8 million pounds, compared to the previous year’s figure of GBP350 million. Additionally, shareholders can expect an uptick in the interim dividend payout, with the company planning to raise it to 14.12 pence per share, up from 12.70 pence per share in the first half of fiscal 2023.
Strategic Clarity Anticipated from New Chief Executive
This upcoming earnings report provides an opportunity for Hargreaves Lansdown’s recently appointed Chief Executive, Dan Olley, to share his vision and strategy for the group. Investors will be keen to gain insights into the company’s future direction, as the stock has been trading below long-term multiples. Strategic clarity is expected to act as a catalyst to boost investor confidence.
Technology Spend and Cost Saving Guidance Possible
In addition to financial performance, Hargreaves Lansdown might offer further guidance on technology spend and cost-saving measures. The company currently has a fiscal 2022-2026 program in place, targeting GBP55 million in savings.
Stock Performance Outlook
Over the past 12 months, Hargreaves Lansdown’s shares have experienced a 7% decline. However, since the start of 2024, there has been an encouraging upturn of 8.7%. Investors will be closely watching the earnings release for potential indicators of future stock performance.
Hargreaves Lansdown’s first-half results will provide valuable insights into the company’s performance in the current fiscal year. Stay tuned for the official announcement later this week.
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Analyst comment
Overall, the news can be evaluated as positive for Hargreaves Lansdown. The anticipated increase in total assets under administration and revenue growth indicate positive growth. Although there is a slight decrease in earnings per share expected, this is overshadowed by the overall positive expectations for the company’s financial performance. Shareholders can also expect an increase in the interim dividend payout. The strategic clarity from the new Chief Executive and potential guidance on technology spend and cost-saving measures are expected to boost investor confidence. The stock performance outlook has shown signs of improvement recently, and investors will be watching the earnings release for indicators of future stock performance.
