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<Foresight>Brokers Foresee HKEX 2024 NP to Rise ~10%; Focus on Mgmt Strategic Guidance
Recommend 11 Positive 19 Negative 7 |
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HKEX (00388.HK) will announce its full-year 2024 results on Thursday (27th). On the back of a sustained rebound in Hong Kong stock market trading activity in the last quarter (with an ADT of HKD187 billion in 4Q24), this website compiled forecasts from 11 brokers, projecting HKEX’s 2024 net profit to range between HKD12.899 billion and HKD13.188 billion. This represents an increment of 8.7%-11.2% compared to HKD11.862 billion in 2023, with a median of HKD13.026 billion, up 9.8% YoY. Based on estimates from seven brokers compiled by this website, HKEX’s DPS for 2024 was forecast to range from HKD9.05 to HKD9.35, compared to HKD8.41 in 2023, reflecting a YoY rise of 7.6%-11.2%. The median is HKD9.22, up 9.6% YoY. Given the persistently high market activity, investors will be focused on guidance from HKEX management regarding the latest operational updates, including IPO growth, plans to enhance the Southbound Bond Connect, the London Metal Exchange’s (LME) confirmation of Hong Kong as a warehousing location to boost metal trading in the region, and progress on the company’s new office in Riyadh to strengthen ties in the Middle East. Brokers│2024 Net Profit Forecast (HKD)│YoY Change Citi│13.188 billion│+11.2% UBS│13.169 billion│+11% HSBC Global Research│13.117 billion │+10.6% Huatai Securities│13.11 billion │+10.5% Haitong International│13.088 billion │+10.3% JP Morgan│13.026 billion│+9.8% UOB Kay Hian│12.989 billion│+9.5% BofA Securities│12.978 billion│+9.4% CICC│12.974 billion│+9.4% Goldman Sachs│12.94 billion │+9.1% Morgan Stanley│12.899 billion│+8.7% Based on HKEX's net profit of $11.862 billion in 2023 AAStocks Financial News |
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