《業績前瞻》券商料匯控(00005.HK.HK)中期多賺8%至13%聚焦股份回購
重磅股匯豐控股(00005.HK.HK)將於下周一(8月5日)公布截至6月底止中期業績，市場預期集團今年第二季收入增長仍可高於支出增長，本網綜合4間券商預測，匯控上半年列帳基準除稅前利潤料介乎115.76億至121.47億美元，按年增加8.1%至13.4%，中位數為119.41億美元，按年增加11.5%。
綜合3間券商預測，匯控今年上半年列帳基準收入料介乎281.46億至287.31億美元，按年增加3.1%至5.3%。市場關注匯控於中期業績時會否公布股份回購計劃。
【高盛最樂觀 料多賺半成】
高盛估計，匯控今年上半年列帳基準除稅前利潤為121.47億美元按年升13.4%，屬券商中最樂觀，估計中期收入按年升5.3%至287.31億美元，料中期淨利息收入150.46億美元、淨利息收入61.83億美元。該行料匯控今年第二季列帳基準除稅前利潤59.34億美元按年近持平(按季跌4%)，料次季淨利息收入按年跌1%至75.78億美元，料淨手續費收入按年下滑3%至31.57億美元，料至6月底普通股權一級比率達到14.6%，料第二季每股派息維持0.1美元。
該行認為，匯控決定回購與否為中期業績的重要關注點。該行指匯控已逾一年沒有進行回購，但仍繼續在指引中提及回購。該行料匯控會有25億美元股份計劃，基於業績公布時將宣布有剩餘資本，但該行指，英國「硬脫歐」可能性或導致匯控選擇不進行回購。而高盛料匯控今年第二季收入增長仍可高於支出增長。
【將聚焦回購 若削呈利淡】
Jefferies上周報告表示，料匯控中期列帳基準除稅前利潤為121.32億美元按年升13.3%，料收入284.6億美元按年增長5.3%。該行指，加息周期帶來的利潤上行空間已大致完結，該行關注股份回購計劃，若有所削減即為負面信號。
--------------------------------------
本網綜合4間券商預測，匯控上半年列帳基準除稅前利潤料介乎115.76億至121.47億美元，按年增加8.1%至13.4%，中位數為119.41億美元，按年增加11.5%。
券商│今年中期列帳基準除稅前利潤預測│按年變幅
高盛│121.47億美元│+13.4%
Jefferies│121.32億美元│+13.3%
摩根士丹利│117.5億美元│+9.7%
美銀美林│115.76億美元│+8.1%
按匯控對2018年上半年列帳基準除稅前利潤107.12億元計算
--------------------------------------
綜合3間券商預測，匯控今年上半年列帳基準收入料介乎281.46億至287.31億美元，按年增加3.1%至5.3%。
券商│今年上半年列帳基準收入預測│按年變幅
高盛│287.31億美元│+5.3%
Jefferies│284.6億美元│+4.3%
美銀美林│281.46億美元│+3.1%
按匯控2018年上半年列帳基準收入272.87億元計算
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app！
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of this article is for reference only. It does not constitute an offer, solicitation, recommendation, opinion or guarantee of any securities, financial products or instruments.The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance.
