Jefferies raises PT as HMC Capital's HY results beat consensus

HMC Capital

20/02/2024 19:03

** Jefferies says HMC Capital's  HMC.AX  HY operating
earnings of A$57.8 mln ($37.87 mln) was 14% over its estimates
and 29% over consensus
    ** Firm says "co delivered strong 1H24 beat in challenging
market, raising equity from new institutional investors &
growing FUM (funds under management) with EPS up 100% YoY"
    ** Company declared interim dividend of 6 AU cents/shr, in
line with Jefferies est.
    ** HMC reaffirms FY24 DPS forecast of 12 AU cents
    ** Brokerage upgrades rating to "buy" and ups PT to A$8.04
    ** Four of 10 analysts rate the stock "buy" or higher, four
"hold" and two "sell" or lower; their median PT is A$5.62 – LSEG
data
    ** Stock has risen over 11% this year, as of last close

($1 = 1.5263 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))