Consensus

Consensus

Analyst Ratings and Forecasts

Consensus estimates (as at 10 May 2022)

Basis of consensus

Consensus has been compiled from financial estimates (models) provided by third-party research analysts. Models which include material errors in calculation have been excluded.

Consensus is based on 11 analyst models updated and published since LSEG's Q1 2022 trading update (issued 27 April 2022) on a pro-forma and consistent basis.

To download LSEG's 2022-24 consensus, including highs and lows for each year, please click here.

Please note this consensus was published after our announcement to divest Beta+, and this is therefore reflected in estimates. A link to the announcement can be found here.

 

Analyst ratings Buy Hold Sell
14 4 0
Consensus target share price (p)            9,181
Share price as of 09/05/2022 (p)            7,050
£m 2022 2023 2024
Revenue Consensus Consensus Consensus
Trading & Banking Solutions 1,530 1,548 1,573
Enterprise Data Solutions 1,252 1,306 1,373
Investment Solutions 1,283 1,373 1,476
Wealth Solutions 267 281 296
Customer & Third-Party Risk Solutions 403 454 499
Data & Analytics 4,736 4,963 5,217
Equities 256 261 269
FX 240 253 264
Fixed Income, Derivatives & Other 946 1,040 1,141
Capital Markets 1,441 1,554 1,674
OTC Derivatives 380 412 434
Securities & Reporting 253 261 265
Non-Cash Collateral 99 105 110
Post Trade 731 776 810
NTI 235 258 271
Post Trade income 965 1,034 1,082
Other 31 35 37
Total Income (excl. recoveries) 7,173 7,586 8,008
Recoveries 324 335 338
Total Income (incl. recoveries) 7,497 7,921 8,346
Cost of Sales (975) (1,004) (1,038)
Gross Profit 6,522 6,917 7,309
Adjusted opex (3,077) (3,116) (3,167)
Income from equity investments 5 6 6
Share of profit / (loss) after tax of associates 1 3 2
Adjusted EBITDA 3,451 3,810 4,150
Adjusted EBITDA margin (%) ex-recoveries 48.1% 50.2% 51.8%
Underlying depreciation and amortisation (789) (803) (814)
Adjusted operating profit 2,662 3,006 3,336
Net finance expense (161) (161) (157)
Adjusted profit before tax 2,501 2,845 3,179
Tax (572) (663) (754)
Tax rate 22.9% 23.3% 23.7%
Adjusted profit after tax 1,929 2,183 2,425
Non-controlling interest (255) (276) (301)
Underlying profit from continuing operations 1,674 1,906 2,124
Weighted Average number of shares 555.1 550.0 548.8
Adjusted basic EPS 301.7 346.6 387.1
Total Dividend (p) 102.8 112.3 124.4



 The sell-side analysts who cover London Stock Exchange Group plc are listed here.

Please note that any opinions, estimates or forecasts regarding London Stock Exchange Group plc performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of the London Stock Exchange Group plc or its management. The number of analysts that are included in the above consensus may differ from the total number of analysts that cover the London Stock Exchange Group plc, due to out of date forecasts (from before the latest set of results) or change at the analysts' company.

Actuals
Continuing operations only: Income Adjusted operating profit Adjusted basic EPS Dividend
£m £m (pence) (pence)
Dec 2020 2,444 1,118 209.7 75.0
Dec 2019 2,314 1,065 200.3 70.0
Dec 2018 2,135 931 173.8 60.4
Dec 2017 1,955 812 148.7 51.6
Dec 2016^ 1,657 686 124.7 43.2
Dec 2015^ 1,419 585 103.4 36.0
Dec 2014* 1,381 558 103.3 22.5
Mar 2014 1,213 515 98.6 28.4
Mar 2013 853 430 97.0 27.2
Mar 2012 815 442 92.6 26.1
Mar 2011 675 341 67.9 24.7
Mar 2010 628 280 55.4 22.5
Mar 2009 671 341 68.3 22.5
Mar 2008 Pro Forma # 667 345 67.3 22.1
Mar 2007 350 188 51.8 16.6
Mar 2006 298 122 34.5 11.1

^ 2015 and 2016 continuing operations exclude businesses sold, being Russell Investment Management and Proquote 

* Change of financial year with effect from 1 April 2014, Dec 2014 dividend declared of 22.5p is in respect of 9 month period April to December 2014.

Adjusted earnings per share and dividends have been restated for the year ended 31 March 2014 and prior years, for the September 2014 rights issue

# Financial information for the year ended 31 March 2008 includes information for the Italian group and its subsidiaries on a pro forma basis as if Borsa Italiana was part of the Group since 1 April 2007 (actual merger date 1 October 2007).