Liontrust has reported FY18e earnings in line with our expectations. The dividend beat our 18.0p forecast, coming in at 21.0p – however with no fixed guidance we have been consistently conservative. AuM has recovered YTD and stands at £11.3bn (25/6) benefiting from positive markets and the launch of Global Fixed Income funds (+c.£210m). We make no changes to earnings forecasts but now drive DPS using prospective EPS growth (+11-13% upgrade). We use a 12x FY19e PER to set our 572p 12m Target Pric ....
27 Jun 2018
PBT in line, dividend beat, earnings forecasts unch
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PBT in line, dividend beat, earnings forecasts unch
Liontrust Asset Management PLC (LIO:LON) | 689 20.7 0.4% | Mkt Cap: 447.4m
- Published:
27 Jun 2018 -
Author:
Andrew Watson -
Pages:
3
Liontrust has reported FY18e earnings in line with our expectations. The dividend beat our 18.0p forecast, coming in at 21.0p – however with no fixed guidance we have been consistently conservative. AuM has recovered YTD and stands at £11.3bn (25/6) benefiting from positive markets and the launch of Global Fixed Income funds (+c.£210m). We make no changes to earnings forecasts but now drive DPS using prospective EPS growth (+11-13% upgrade). We use a 12x FY19e PER to set our 572p 12m Target Pric ....