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Can Halma shares continue their impressive climb?

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Bar a brief wobble here and there, the last few years have been fantastic for Halma shares, and 2019 has been no different.

Starting at £13.78, the stock basically hasn’t stopped climbing, eventually reaching an all-time high of £18.42 at the end of May. Halma shares now sit at a current trading price of £18.12,

The firm’s last update was a no-nonsense statement in March. Announcing that it expects its full year results to be ‘in line with market consensus expectations’, the firm highlighted its ‘widespread revenue growth geographically’. The US and UK were the strongest regions, with more ‘moderate’ growth in Mainland Europe and Asia Pacific.

It went on to state that the Infrastructure Safety division has seen the strongest progress, boosted by its recent acquisitions, while Process Safety had delivered a ‘satisfactory’ year despite second half reorganisation costs. As for the Medical and Environmental & Analysis, they were only lightly covered, both on track to post ‘good full-year performances’.

In terms of Tuesday’s annual results, analysts are expecting revenue to climb 12.4% to £1.21 million, growth in line with what was posted in 2018, while adjusted operating profit is forecast to jump 13% to £252.7 million, an acceleration on the 10%-ish rise seen at the same time last year.

Halma shares have a consensus rating of ‘Hold’ alongside an average target price of £15.41.

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This article is brought to you in association with Spreadex. All opinions expressed in this article are from the author and do not necessarily represent the opinions of The Armchair Trader. You can find out more about Spreadex products and services here, or find more articles from Connor Campbell here.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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