Experian plc
Experian plc instruments
| Code | Instrument name |
|---|---|
| EXPN | ORD USD0.10 |
Price information
Instrument information
Last 5 trades
| Date | Time | Price | Currency | Volume | Trade Value | Trade type | Trade flag | MIC |
|---|---|---|---|---|---|---|---|---|
| 01.06.20 | 17:09:57 | 2,811.00 | GBX | 1,961 | 55,123.71 | Off-Book | TNCP | XOFF |
| 01.06.20 | 18:14:20 | 2,811.00 | GBX | 1,058 | 29,740.38 | Off-Book | TNCP | XOFF |
| 01.06.20 | 18:02:02 | 2,824.78 | GBX | 150 | 4,237.17 | Off-Book | TNCP | XOFF |
| 01.06.20 | 18:02:03 | 2,812.06 | GBX | 46,078 | 1,295,741.01 | Off-Book | TNCP | XOFF |
| 01.06.20 | 18:01:11 | 2,839.06 | GBX | 908 | 25,778.68 | Off-Book | TNCP | XOFF |
Equity Research
from Experian plc
Resilient North America provides Experian confidence
Experian clocked strong organic revenue growth in FY19/20 (although the profitability target missed a tad). However, as expected, moving into the first full month of the COVID-19 crisis, its top-line slipped into negative territory – challenges are likely to persist at least during Q1 FY20/21 (ending in June 2020). Still, the company’s relatively stronger show (vs its competitors) and robust balance sheet are encouraging.
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Full-year guidance maintained
Experian maintained strong growth momentum in Q3 FY19/20, driven by ‘Data’ business across the key geographies, especially North America. Robust demand in Brazil also underpinned the group’s performance. Management has maintained the full-year guidance of 7-8% yoy organic revenue growth.
View reportConsumer business shines in H1
In Q2 FY19/20, Experian progressed well on the top-line front – both the B2B and Consumer Services were healthy. Although profitability and cash conversion was poor, management remains confident in bridging the gap in H2 FY19/20. For the full-year, organic revenue growth guidance has been moved towards the higher-end of the previous range. Other targets have been maintained.
View reportDespite a soft start, the full-year guidance remains unchanged
Experian’s top-line growth moderated in Q1, largely due to the tough comparable in the‘Decisioning’ segment. Despite this soft start, management remains confident about the business prospects, maintaining its full-year guidance. We will tweak our estimates slightly, but do not expect a material change in the target price.
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Good finish to the year
Experian maintained its strong organic revenue growth momentum in FY18/19. FX headwinds, however, impacted both the reported top-line and profitability. We expect the strong demand of the company’s recently launched products to last, at least in the near term. Positive data regulation in Brazil should also lend some support, in our opinion. We will revise our target price upwards.
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