一文了解券商於渣打(02888.HK)公布中期業績後最新評級、目標價及觀點
渣打集團(02888.HK)今早股價靠穩,早市升0.2%收47.85元,渣打昨中午公布中期業績,基本表現除稅前溢利按年增長37%至26.82億美元,高於早前本網綜合3間券商介乎21.1億美元至24.22億美元的預測。經營收入及經營支出分別按年減少5%及8%,為76.18億美元及50.92億美元,成本對收入比率66.8%,高於去年同期的58.6%。
按法定表現計,渣打中期除稅前溢利按年增長57%至25.59億美元,高於早前本網綜合4間券商介乎20.1億美元至22.66億美元的預測。法定表現經營收入按年倒退6%至76.28億美元,介乎本網綜合4間券商74.18億美元至76.75億美元之預期區間,高於預測中位數的75.32億美元。期內淨利息收入按年減少4%至33.75億美元,經調整淨息差1.22%,較去年同期的1.4%收窄。而集團宣派中期股息每股3美仙,並將回購共值2.5億美元的股份,預期普通股權一級資本比率將於第三季度下降9個點子。
【業績勝預期 派息遜預期】
瑞信表示,渣打第二季利高於市場原預期58%,主要是撥備支出較低所帶動,指淨息利收入低預期2%,集團維持鵊指引不變,並指渣打派息比率遜預期,但回購股份規模則優預期,維持對其倫敦上市投資評級「中性」及目標價457便士。
摩根大通發表報告表示,渣打集團今年第二季業績好壞參半,指淨息差轉弱,抵銷了本季度強勁的貸款增長,而集團管理層重申2021財年的收入應與2020財年相約。該行估計市場對渣打每股盈利預測的調整變化有限,指目前估相相當於預測市盈率為6.8倍,市賬率為0.4倍,維持對其「增持」評級及目標價65港元。
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綜合2間券商列出對渣打集團的投資評級與目標價:
券商│投資評級│目標價
美銀證券│買入│66.8港元
摩根大通│增持│65港元
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下表列出6間券商對在倫敦上市渣打(STAN.L)評級與目標價:
券商│投資評級│目標價
高盛│買入│730便士
美銀證券│買入│620便士
傑富瑞│買入│610便士
花旗│中性│490便士
瑞銀│中性│490便士
瑞信│中性│457便士
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券商│觀點
高盛│上半年資本回報超預期
美銀證券│派息及股份回購預期前景正面
摩根大通│派息及股份回購有驚喜
傑富瑞│ 回購令人驚喜
花旗│收入前景樂觀,數字和虛擬銀行業務成催化劑
瑞銀│撥備前盈利符預期
瑞信│中期派息略遜較預期,回購規模則勝預期
(ta/w)
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