Experian share price surges as group flags growth at top end of range

Credit checking firm hikes half-year payout

Experian share price surges as group flags growth at top end of range

Shares in Experian (LON:EXPN) have climbed higher in London in today’s session as the company flagged organic revenue growth at the top end of its guidance range. The news came as the blue-chip credit checking company updated investors on its half-year performance this morning, further hiking its payout to investors.

As of 10:33 GMT, Experian’s share price had added 4.46 percent to 1,873.00p, outperforming the broader UK market, with the benchmark FTSE 100 index currently standing 0.12 percent higher at 7,061.48 points. The group’s shares have added more than 15 percent to their value over the past year, as compared with about a 4.7-percent dip in the Footsie.

Experian posts half-year results

Experian announced in a statement this morning that its organic revenue had climbed eight percent to $2.36 billion in the six months ended September 30, while the group’s earnings before interest and taxes came in seven percent higher at actual rates at $649 million. The group lifted its dividend per share by four percent.

“We now expect full-year organic revenue growth in line with the first half, and at the top of our previous guidance range,” Brian Cassin, Experian’s chief executive officer Brian Cassin commented in the statement. “While foreign exchange translation remains a headwind, we expect EBIT growth at or above revenue growth and strong progress in Benchmark earnings per share, all at constant currency.”

Analysts on credit checking firm

Shore Capital reaffirmed Experian as a ‘buy’ this month, without specifying a valuation on the shares, while HSBC, which rates the company as a ‘hold,’ trimmed its price target on the stock from 1,700p to 1,500p. According to MarketBeat, the blue-chip group currently has a consensus ‘buy’ rating and an average price target of 1,881p.

As of 10:37 GMT, Tuesday, 13 November, Experian plc share price is 1,867.50p.

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