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Prices & Quotes - UK Markets - Investec (INVP)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 290.80p
Change Today:
3.60p
Market Cap:
2,024.21m
Sector:
Banks

BofA says 'sell-off' in Investec not justified, reiterates 'buy'

By Alexander Bueso

Date: Tuesday 24 Nov 2020

LONDON (ShareCast) - (Sharecast News) - Analysts at Bank of America sounded a very positive note on shares of Investec, highlighting a slew of factors which pointed to a potential total shareholder return of 17%, helped not least by a "now relevant" dividend yield of greater than 6%.
Indeed, in their judgement, the investment bank's ongoing efforts to "simplify volatile business lines may have caused some confusion", leading to selling pressure on the stock despite the firm having beat consensus estimates for first half profits.

Yet revenues were holding up, demonstrable progress had been made on costs, the potential existed for improved margins in the UK, cost savings from restructuring, and for better margins in South Africa on the back of the Covid-19 vaccine.

The miss on net interest income, with Investec reporting 359m against analysts' forecasts for 376m, was driven by "transient" weakness in South Africa, they added.

So too, losses and negative mark-to-markets on structured products were the result of "significant dislocations" caused by the pandemic "but should fade as stability continues to improve".

At 2.2 times' adjusted earnings per share, the reinstated dividend also looked "adequately" supported, they said.

All told, BofA bumped-up its estimates for Investec's earnings per share over 2021-23 by 14.2%, helped by a favourable tailwind worth 5.9 percentage points from the rebound in the South African rand.

In turn, their target price for the shares was revised from 180.0p to 212.0p and the recommendation kept at 'buy'.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Investec Market Data

Currency UK Pounds
Price 290.80p
Change Today 3.60p
52 Week High 293.50p
52 Week Low 127.05p
Volume 2,542,882
Shares Issued 696.08m
Market Cap 2,024.21m
Beta 0.03

Performance Indicators

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What The Brokers Say

Strong Buy 4
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 4
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Investec Dividends

  Latest Previous
  Interim Interim
Ex-Div 10-Dec-20 05-Dec-19
Paid 04-Jan-21 18-Dec-19
Amount 5.50p 11.00p

Trades for 07-May-2021

Time Volume / Share Price
16:35 536,520 @ 290.80p
16:29 109 @ 291.30p
16:29 4 @ 291.30p
16:29 327 @ 291.30p
16:29 108 @ 291.40p

Investec Key Personnel

CEO Fani Titi
Chair Peregrine Crosthwaite
Finance Director Nishlan Samujh