Jupiter Fund Management (JUP)

Sector:

Financials

Index:

FTSE 250

203.20p
   
  • Change Today:
      12.10p
  • 52 Week High: 432.00
  • 52 Week Low: 164.70
  • Currency: UK Pounds
  • Shares Issued: 447.30m
  • Volume: 305,130
  • Market Cap: £908.91m

Canaccord cuts target for Jupiter Fund Management on M&A risk

By Alexander Bueso

Date: Tuesday 11 Feb 2020

LONDON (ShareCast) - (Sharecast News) - Canaccord Genuity cut its target price for shares of Jupiter Fund Management from 415.0p to 362.0p after the firm modified its capital allocation policy to include inorganic growth - before dividends.
The Canadian broker was projecting a payout ratio of 85.0% and 90.0% for 2020 and 2021.

That, analysts Portia Patel and Justin Bates said, was consistent without its historical target range, but now " shareholders must weigh up the value creation from potential accretive M&A against extraordinary distributions."

Since that will depend on the merits of the deals identified by management, at this point in time they could "flag only potential downside risk to our DPS forecasts".

"We value JUP at a 10% discount to the peer average to reflect this risk [resulting in a 2020 price-to-earnings multiple of 14.0], coupled with an uncertain net flow and EPS outlook, which results in a 362p target price, -1% TSR. Maintain HOLD."

Their projections were for flat net flows in 2020 and 3.0% growth in 2021, versus the 5.0% for both years which they had previously anticipated.

Market growth on the other hand was now pegged at 5% for 2020-21, where as previously they had been expecting 0.0% and 5.0% growth.

Furthermore, the analyts lowered their estimates for Jupiter's earnings per share in 2020-21 by 10.0% and 15.0%, respectively, to reflect lower net management fees and reduced scope for cost cutting.



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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

JUP Market Data

Currency UK Pounds
Share Price 203.20p
Change Today 12.10p
% Change 6.33 %
52 Week High 432.00
52 Week Low 164.70
Volume 305,130
Shares Issued 447.30m
Market Cap £908.91m

JUP Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
80.28% above the market average80.28% above the market average80.28% above the market average80.28% above the market average80.28% above the market average
84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average
Price Trend
60.87% below the market average60.87% below the market average60.87% below the market average60.87% below the market average60.87% below the market average
53.42% below the sector average53.42% below the sector average53.42% below the sector average53.42% below the sector average53.42% below the sector average
Income
82.61% above the market average82.61% above the market average82.61% above the market average82.61% above the market average82.61% above the market average
79.75% above the sector average79.75% above the sector average79.75% above the sector average79.75% above the sector average79.75% above the sector average
Growth
88.15% below the market average88.15% below the market average88.15% below the market average88.15% below the market average88.15% below the market average
94.87% below the sector average94.87% below the sector average94.87% below the sector average94.87% below the sector average94.87% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 5
Sell 1
Strong Sell 6
Total 13
sell
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

JUP Dividends

  Latest Previous
  Final Interim
Ex-Div 12-Mar-20 08-Aug-19
Paid 09-Apr-20 28-Aug-19
Amount 17.10p 7.90p

Trades for 07-Apr-2020

Time Volume / Share Price
10:59 994 @ 203.20p
10:59 1,116 @ 203.20p
10:56 781 @ 203.00p
10:56 248 @ 203.00p
10:56 26 @ 202.80p

JUP Key Personnel

CEO Andrew Formica
CFO Wayne Mepham

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