Beaufort Securities Equity Research & Stock Reports
- Professional research and all the latest forecasts, valuation opinions and multiples from Beaufort Securities's expert analysts.
- Real-time updates from analysts following company announcements and other events.
- Near-live share prices, user-friendly dashboard, charting and company content.
GlaxoSmithKline (GSK.L) will report Q3-17 figures on 25 October. We look for total quarterly revenues of around US$ 7.9bn, up around 4% on last year driving Adj. EPS of around 32p. Key focus areas will be the performance of GSK’s Consumer Health division, which has experienced weakening organic sales growth, in line with many other Consumer Healthcare portfolios, such as those of Reckitt Benckiser and J&J. Consolidation amidst this part of the industry looks inevitable with GSK potentially acting as a consolidator given CEO Emma Walmsley's previous role as head of GSK’s Consumer Health division. GSK has already stated that its full year dividend will be 80p per share, flat on last year, which puts the stock on a prospective yield of 5.3%. GSK’s valuation is undemanding in relation to its peers, so upside exists if it can deliver growth and upon the stipulated cost savings programme.
23 Oct 17
Land Securities Group
Waiting To Pounce
Land Securities (LAND) is the UK’s largest commercial property landlord, focused upon London Offices and Retail Property in key UK locations. The quality of the portfolio has increased over the past few years, with the average office lease length now 10.3 years - its longest ever - and with an overall loan-to-value ratio (LTV) at c21%, the business is well positioned to take advantage of weakening commercial property prices. Trading on a 32% discount to FY-18E Net Asset Value, and yielding over 4%, we believe that the current share price is excessively factoring in the Brexit effect on UK commercial property. We look for a double- digit total return over the coming 12 months, although can see no obvious catalyst for the share price today. We thus ascribe a Long Term Buy recommendation with target price of 1150p.
20 Oct 17
Beaufort Securities Research and Daily Commentaries
Research Tree offers Beaufort Securities research, providing ongoing coverage of 294 shares , as well as macro-economic categories including: Foreign Exchange and Indices and Markets. We offer 547 reports from Beaufort Securities on Research Tree.
Research reports provided by Beaufort Securities
Companies covered by Beaufort Securities
Sectors covered by Beaufort Securities