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Prices & Quotes - UK Markets - TP Icap Group (TCAP)

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:
Down 127.18p
Change Today:
-2.26p
Market Cap:
1,003.03m
Sector:
Financial Services

Shore Capital downgrades TP Icap to 'hold'

By Abigail Townsend

Date: Monday 22 Mar 2021

LONDON (ShareCast) - (Sharecast News) - Shore Capital has downgraded TP Icap Group to 'hold' after cutting its full-year forecasts for the broker.
Following the publication of Icap's final results last week, Shore Capital said it had downgraded forecasts for earnings per share in 2021 by 6%, to 27.5p, and by 7% in 2022 to 29.6p, which in turn reduced its fair value estimate to 255.0p from 270.0p.

The analysts also reduced their recommendation for the shares from 'buy' to 'hold'.

However, analyst Vivek Raja noted: "Following recent yield curve steepening and oil price inflation, we think the outlook has improved for the standalone business, excluding Liquidnet, after a tough year ending December 2020.

"As such, new guidance for the standalone business of low single-digit revenue growth in the current year ending December 2021 in constant currency terms struck us as cautious. We have reduced revenue estimates for the standalone business, which we now envisage producing 1.5% growth year-on-year, apparently still ahead of guidance if we factor in a forex translation headwind, currently running at an estimated 7%.

"We cut Icap to 'hold', but could take a more positive view if inflation expectations persist, and the recovery in activity levels during the early part of 2021 is sustained, providing scope for an improvement in revenue guidance and EPS upgrades after the tough first quarter comp is lagged."

As at 1445 GMT, shares in Icap were trading largely flat at 250.9p.

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

 

TP Icap Group Market Data

Currency UK Pounds
Price 127.18p
Change Today -2.26p
52 Week High 262.50p
52 Week Low 125.89p
Volume 663,065
Shares Issued 788.67m
Market Cap 1,003.03m
Beta 1.10

Performance Indicators

Compare performance with the sector and the market.

Key
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Value
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Price Trend
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Income
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Growth
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Price Chg 6m
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P/E
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PEG
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Dividend Yield
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EPS Growth
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Operating Margin
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sector
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What The Brokers Say

Strong Buy 5
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 6
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

TP Icap Group Dividends

  Latest Previous
  Interim Final
Ex-Div 30-Sep-21 08-Apr-21
Paid 05-Nov-21 18-May-21
Amount 4.00p 2.00p

Trades for 03-Dec-2021

Time Volume / Share Price
16:20 10,000 @ 125.89p
14:45 15,714 @ 127.18p
16:35 306,728 @ 127.18p
16:29 131 @ 126.74p
16:29 2 @ 126.44p

TP Icap Group Key Personnel

CEO Nicolas Breteau
CFO Robin Stewart
Chair Richard Berliand