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<Foresight>Brokers Expect HSBC HOLDINGS (00005.HK) 1Q Reported PBT to Fall 0.8-6.8%; Focus on Buyback, Div. Guidance
Recommend 13 Positive 27 Negative 16 |
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HSBC HOLDINGS (00005.HK) will announce its 1Q results next Tuesday (30 Apr), dragged by unfavourable interest rate spreads due to falling HIBOR, as well as slow loan growth, but partly offset by strong wealth management revenue. Investors will be watching for share buybacks, business operations and dividend guidance from the group. ---------------------------------------- According to the forecasts of 3 brokers as complied by our reporters, HSBC's profit before tax (PBT) on a reported basis for 1Q24 is expected to be in the range of US$12.006 billion to US$12.784 billion, a YoY decline of 0.8% to 6.8% from US$12.886 billion in 1Q23. Broker│1Q24 PBT (Reported Basis)│YoY Change Goldman Sachs│US$12.784 billion│-0.8% JPMorgan│US$12.247 billion│-5% Morgan Stanley│US$12.006 billion│-6.8% ---------------------------------------- HSBC announced earlier a proposed special dividend of USD21 cents per share due to the completion of its sale of HSBC Canada. Based on this, the 3 brokers all estimated that HSBC will pay a total dividend of US$0.31 per share in 1Q24, including both quarterly and special dividends. This represented a YoY surge of 2.1x compared to the US$0.1 in 1Q23. Broker│1Q24 DPS (US$)│YoY Change Goldman Sachs│US$0.31│+2.1x JPMorgan│US$0.31│+2.1x Morgan Stanley│US$0.31│+2.1x ---------------------------------------- The 3 brokers predicted that HSBC will announce additional share buybacks totalling US$2.0 billion to US$2.5 billion in 1Q. Broker│Buyback Amount Forecast JPMorgan│US$2.5 billion Goldman Sachs│US$2 billion Morgan Stanley│US$2 billion AAStocks Financial News |
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