Moneysupermarket expects profit to meet market forecasts after solid first half
Analysts at Peel Hunt were hoping for an upgrade to the full-year guidance so downgraded its recommendation on the shares to 'hold' from 'add'
Company
LON:MONY
MONY Group PLC is the parent company of Moneysupermarket.com, the price comparison site, Money Saving Expert, Ice Lolly and Quidco. It offers online services to consumers enabling them to search for and compare a wide range of products across money, insurance, travel and home services, and assists them in finding the product most suited to their requirements. Moneysupermarket.com's price comparison services offer a compelling value proposition to both consumers and product providers, by simplifying consumers' research, improving consumers' shopping experience and enabling product providers and advertisers to effectively target their marketing spend. The Group operates two flagship websites, moneysupermarket.com and travelsupermarket.com. The Group's websites attracted approximately 64 million visitors and 523 million page impressions during 2006.
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Analysts at Peel Hunt were hoping for an upgrade to the full-year guidance so downgraded its recommendation on the shares to 'hold' from 'add'
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Along with easyJet, there are also company updates due from Royal Mail and Anglo American, plus UK retail sales data
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It looks set to be a busy week of corporate announcements and UK economic data
The benefits of recent investments should start to come through soon, competitive threats are receding, and insurance premiums look set to rise throughout this year
The group also announced it was exiting Australia and placing its US business under review.
The price comparison site said revenues had risen 19% to £104.9mln in the quarter, boosted by a 70% jump in its Home Services arm as a result of the uptick in switching numbers
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The UK's premier stock index finished down around 11 points at 7,459
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Its an early finish for the market this week, but, there's a little bit more news to come.
Liberum’s analysts said: “We expect Q1’s like for like growth rate to be c.5% vs 4% for Q1'18, with a different mix of revenues and reported numbers benefiting from the inclusion of the Decision Technologies acquisition”
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There will be plethora of UK data - jobs, inflation, and retail sales - plus corporate updates from the likes of Unilever, BHP Rio Tinto, Bunzl and Rentokil Initial
Liberum raised its rating on GoCompare to ‘buy’ from ‘hold’ and hiked its target price to 100p from 75p
Analysts said “weakening end markets, growing margin pressures and intensifying competition in its core verticals” meant the FTSE 250 price comparison website would struggle to increase its low single-digit profit growth trajectory
The core UK business is still doing well, but, Canada aside, Purplebricks seems to be struggling with its overseas expansion
For the year ended 31 December 2018, the FTSE 250-listed group saw its adjusted underlying earnings (EBITDA) increase by 2% to £129.4mln, a touch above forecasts
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FTSE 100 closed up just over six points at 7,197, while FTSE 250 shed over 74 at 18,898
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AstraZeneca, Indivior and Coca-Cola HBC are among the higher profile names in the schedule for Thursday.
Cat Rock wants Just Eat to explore a merger with a “well-run industry peer” rather than appoint a new boss, blaming the board’s poor track record of CEO selection
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Aside from all the company news, the Week Ahead also brings the latest UK inflation and GDP growth data for investors to digest, while the Brexit saga will continue to roll on
The broker also slapped a downgrade on Moneysupermarket, while YouGov and Huntsworth were given better treatment and upgraded to 'buy' ratings
Liberum raised its recommendation on the company to ‘buy’ from ‘hold’ and raised its target price to 500p from 295p