一表归纳大行对汇控(00005.HK)业绩後最新目标价及评价
汇丰控股(00005.HK)今日早市股价造淡，处60元水平。汇控昨日(5日)开市前公布中期业绩，列账基准除税前利润升15.8%至124.07亿美元，高於本网早前综合4间券商介乎115.76亿至121.47亿美元预测，经调整除税前利润升6.8%至达到125亿美元。列账基准除税後利润增加18.1%至99亿美元。每股中期盈利42美仙，年度第二次股息每股普通股10美仙。有均有形股本回报(年率)增加150个基点至11.2%。集团拟进行总额最多10亿美元股份回购计划，预计短期内展开。
【行政总裁离任全球裁员2%】
汇控同时宣布上任年半的行政总裁范宁(John Flint)离任。汇控主席杜嘉祺表示，目前公司需要作出策略上的转变，料6至12个月内可觅得继任人选。汇控财务总监邵伟信披露，集团将全球裁减最多2%员工，按目前23.77万名员工计，全球裁员人数或达4,754人，以节省最多4%员工成本，料裁员及员工离职赔偿额介乎6.5亿美元至7亿美元。
对於范宁离任，瑞银认为汇控董事会表面上没有要求改变业务策略，但任何继任安排，尤其可能倾向外部招聘，汇控业务策略的实质改变可能发生。该行视成本及股息政府为两项最有可能改变的范畴。该行又指，汇控面对利率下降、波动性地缘政治因素影响其两大重要市场，中期盈利能力受虚拟银行发牌影响，预期对成本控制采取更主动做法将为重点。
【摩通：不预期业绩强劲趋势持续】
摩根大通认为，汇控纵使业绩强劲，但不预期今年次季的正面趋势会在未来季度延续，受制於宏观环境及资本市场的不确定性。管理层亦指美国减息、英国脱欧及地缘政治问题改变展望。该行预期汇控净息差面临债务息差收窄问题，英国及香港的信贷增长会受英国脱欧、宏观不确定性及地缘政治风险影响而变弱，资本市场或不会在下半年复苏，威胁管理层明年有形股本回报率11%的目标。
汇控股价在业绩公布後随大市下跌，本网最新综合7间券商对其投资评级及目标价：
券商│投资评级│目标价(港元)
国泰君安│收集│79.68元高盛│买入│79元
摩根大通│中性│73元
摩根士丹利│与大市同步│70元
瑞银│中性│64.8元
瑞信│中性│63.9元(670便士)
花旗│沽售│52.9元券商│评论
国泰君安│上半年业绩胜预期高盛│业绩符预期
摩根大通│次季强劲业务趋势不大可能维持
摩根士丹利│次季业绩稳固，关注行政总裁变更
瑞银│次季税前溢利改善，行政总裁变更令人意外
瑞信│行政总裁变更令人意外
花旗│收入面临不确定性
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 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. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
