Hays (HAS)

Sector:

Support

Index:

FTSE 250

69.60p
   
  • Change Today:
    -1.35p
  • 52 Week High: 107.70
  • 52 Week Low: 65.00
  • Currency: UK Pounds
  • Shares Issued: 1,591.90m
  • Volume: 368,391
  • Market Cap: £1,107.96m
  • RiskGrade: 145

RBC Capital trims Hays price target

By Michele Maatouk

Date: Friday 12 Jul 2024

LONDON (ShareCast) - (Sharecast News) - RBC Capital Markets cut its price target on Hays on Friday after the recruiter said a day earlier that full-year profit was set to be around the bottom end of the market consensus range of £106m to £113m as it posted a drop in fourth-quarter net fees.
In an update for the three months to the end of June, the company said group net fees declined 15%. Fees were down 17% in the UK and Ireland, 22% in Australia and New Zealand and 17% in Germany. Meanwhile, rest of world fees were 11% lower.

Hays also said that the June exit rate was down 18%, hit by "challenging" conditions in Germany and Australia, and the negative effects of elections in the UK and France.

"Reflecting the increasingly challenging trading conditions as fiscal Q4 progressed and management's latest prognosis for near-term profitability, we lower our FY24 and FY25 EPS estimates by 6% and 36% respectively," RBC said.

In turn, it reduced its price target to 125p from 130p, but said it still sees an attractive longer term risk-reward profile.

"On a through-cycle basis, we expect meaningful shareholder returns via special dividends, albeit on our current estimates, we assume no specials will be proposed for FY24 or FY25," RBC said.

"We believe HAS looks attractive versus history on the EV/net fees metric in particular, which has historically helped to put a 'floor' under the share price."

RBC rates the stock at 'outperform'.

Email this article to a friend

or share it with one of these popular networks:


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

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Hays Market Data

Currency UK Pounds
Share Price 69.60p
Change Today -1.35p
% Change -1.90 %
52 Week High 107.70
52 Week Low 65.00
Volume 368,391
Shares Issued 1,591.90m
Market Cap £1,107.96m
RiskGrade 145

Hays Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
63.21% below the market average63.21% below the market average63.21% below the market average63.21% below the market average63.21% below the market average
57.78% below the sector average57.78% below the sector average57.78% below the sector average57.78% below the sector average57.78% below the sector average
Price Trend
57.74% below the market average57.74% below the market average57.74% below the market average57.74% below the market average57.74% below the market average
56.7% below the sector average56.7% below the sector average56.7% below the sector average56.7% below the sector average56.7% below the sector average
Income
1.09% above the market average1.09% above the market average1.09% above the market average1.09% above the market average1.09% above the market average
8.47% above the sector average8.47% above the sector average8.47% above the sector average8.47% above the sector average8.47% above the sector average
Growth
61.35% below the market average61.35% below the market average61.35% below the market average61.35% below the market average61.35% below the market average
65.22% below the sector average65.22% below the sector average65.22% below the sector average65.22% below the sector average65.22% below the sector average

What The Brokers Say

Strong Buy 5
Buy 2
Neutral 3
Sell 0
Strong Sell 0
Total 10
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Hays Dividends

  Latest Previous
  Interim Final
Ex-Div 27-Feb-25 17-Oct-24
Paid 09-Apr-25 25-Nov-24
Amount 0.95p 2.05p

Trades for 03-Jun-2025

Time Volume / Share Price
11:17 80 @ 69.65p
11:17 112 @ 69.60p
11:14 2 @ 69.75p
11:14 326 @ 69.70p
11:14 218 @ 69.70p

Hays Key Personnel

CEO Dirk Hahn

Top of Page