Hargreaves Lansdown (LON:HL.) has had quite a challenging last few months, especially in terms of dealing with regulators and politicians attacking the group's business model through its close connections with fund manager Neil Woodford and his stricken Equity Income fund.
On Thursday, the FTSE 100 group will hope for some less negative PR as it published its final results.
“Ultimately, we believe that HL will emerge relatively unscathed but undoubtedly this has knocked confidence in the short term,” said analysts at Peel Hunt.
Beyond this, the analysts expect a good set of results, with profits forecast to rise by 7% despite the stock market wobble during the period, with a boost coming from the new Active Savings service adding client numbers, with more banks signing up to the platform.
Starting to recover after dipping on the recent Woodford issues, the shares now trade at 29 times December 2019 earnings, though Peel Hunt expects rising equity markets to prove a tailwind for future consensus forecasts.
Major announcements expected:
Finals: Hargreaves Lansdown PLC (LON:HL)
Interims: Arrow Global PLC (LON:ARW), Aviva PLC (LON:AV.), Coca-Cola HBC PLC (LON:CCH), Hastings PLC (LON:HSTG), Tritax Big Box PLC (LON:BBOX), Telecom Egypt S (LON:TEEG), Temple Bar Investment Trust PLC (LON:TMPL)
FTSE 100 ex-dividends: BT Group PLC (LON:BT.A), Diageo plc (LON:DGE), Astrazeneca PLC (LON:AZN), GlaxoSmithKline PLC (LON:GSK)
Economic data: US weekly jobless claims, RICS UK housing market survey