[ET Net News Agency, 23 August 2019] HSBC Global Research lowered its target price for
Henderson Land (HLD)(00012) to HK$37.6 from HK$47.55 and maintained its "hold" rating.
The research house said HLD reported weak results for 1H primarily due to the absence of
sizeable asset disposals in the financial period. Stripping out contributions from asset
disposals, its profit was down by 30% to HK$5.3bn.
HSBC suggested that investors reset their growth expectations for HLD's dividend, which
is related to its 1-for-10 bonus share issuance strategy. It noted that Hong Kong & China
Gas (00003) had also adopted this dividend strategy, and suspended it in 2008 when its
earnings declined.
HSBC revised its FY2019-21 estimates forecasts by -4% to +7% to reflect its now lower
sales assumptions and disposal sale assumptions. (KL)
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00012 HENDERSON LAND
Nominal 
22.300 -0.050 (-0.224%) Others
23/08/2019 15:32
{I-bank focus}HSBC cuts Henderson Land (00012) to HK$37.6
| Remark: | Real time quote last updated: 18/04/2024 17:59 |
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