Experian flips revenue guidance after better second quarter
Trading in the second quarter was boosted by strength in the US mortgage market
Company
LON:EXPN
Experian is a global leader in providing information, analytical tools and marketing services to organisations and consumers to help manage the risk and reward of commercial and financial decisions.
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Trading in the second quarter was boosted by strength in the US mortgage market
Organic revenue for the quarter to September 30 is expected to drop by 0-5%
The stock trades for around 30 times expected earnings per share in 2022, at the top end of the sector, which the analysts felt was justified
The credit check giant declared a full-year dividend of US$0.47 per share
In the three months ended 31 December, total revenue was up 9% at constant exchange rates, driven by North and Latin America
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The footsie closed up over 64 points at 7,674 on the day and was around 1.15% up on the week
The consumer credit ratings group expects organic revenues to grow 7-8% for the full year, the upper range of previous guidance
The credit checking giant reported revenues up 4% in the three months to 30 June, compared to the 6% reported growth in the past year
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The UK's premier share index finished around 45 points higher, at 7,577
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There’s a bit more for investors to get their teeth into on Tuesday
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It looks set to be a busy week of corporate announcements and UK economic data
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Footsie retailers did well, with B&Q owner Kingfisher (LON:KGF) top dog on the exchange
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Serco has already flagged that it expects its strong order intake to boost revenue in 2019 after several years of declines.
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Aside from the two mid-cap transport operators, blue chip contractor Bunzl will also issue a trading update, while the macro focus will be on the G20 meeting in Japan
Experian shares are up by almost a third so far this year, and Credit Suisse thinks most of the growth potential is now baked into the stock price
The US bank's analysts said: “With the shares having re-rated 25% over the last 12 months and upgrades unlikely we find it hard to be a buyer”
He will succeed Don Robert who, as previously announced on 14 December 2018, had notified the company of his intention to step down as chairman and as a director
The credit checker said it expects a "further strong performance" in fiscal year 2020
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The mid-cap FTSE 250 was also a shade higher - adding around two points at 19,369
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Aside from the TUI numbers, blue-chip firms including DIY stores group Kingfisher, contract caterer Compass Group and credit checking firm Experian will also issue updates on Wednesday