Citywire money2 Aug 2018 10:21
The Expert View: Next, Lloyds and Capita
by Michelle McGagh Aug 02, 2018 at 05:00
Market capitalisation £45,459m
No. of shares out 71,522m
No. of shares floating 71,312m
No. of common shareholders not stated
No. of employees 67905
Trading volume (10 day avg.) 140m
Turnover £16,006m
Profit before tax £11,652m
Earnings per share 4.34p
Cashflow per share 8.17p
Cash per share 90.47p
Lloyds in ‘rude health’, says Hargreaves Lansdown
Hargreaves Lansdown believes Lloyds (LLOY) is in ‘rude health’ after the bank hiked its dividend following a 23% jump in profits over the first half of the year.
Analyst Laith Khalaf said while the numbers were ‘heavily skewed by PPI, Lloyds’ underlying profit growth shows the bank is in rude health’.
‘Revenues are up, costs are flat and bad loans are very low and expected to remain so,’ he said.
The shares rose 1.8% to 63.5p yesterday, as investors cheered news of a 1.07p interim dividend, up from 1p last year.
Lloyds shares have drifted over Brexit fears and Khalaf said ‘while this sentiment doesn’t look like shifting any time soon, Lloyds’ shareholders are being paid to wait’.
‘The bank is expected to deliver a total dividend of 3.44p this year, equivalent to a 5.5% income yield. Not bad, if you can get it,’ said Khalaf.