The Week Ahead: Worldpay, Standard Life, Prudential

Monday 8 August

Trading statements

Telit Communications

AGM/EGM

Tau Capital, Obtala Resources, Lekoil

Tuesday 9 August

Investors will go through Worldpay Group's first-half results with a fine-tooth comb on Tuesday, as the payments processor hasn't reported since its March annual results, before the referendum.

Early numbers from Barclays suggest volumes remained subdued in the first half, with little impact from Brexit so far. Expecting soft volumes to be offset by strong pricing, Barclays analyst Gerardus Vos reckons the flagship e-commerce division will remain the gem of the portfolio, with market-leading performance.

The analyst pencils in organic growth of 9.5%, with a 38.8% cash profit margin reflecting double-digit growth on the year. Revenue is expected to rally 12.2% to £522.3 million with earnings per share reaching 4.67p.

With the market poised for 9% compound annual growth over the next decade, Vos is 'overweight' Worldpay, valuing the shares at 315p - that's 6% upside.

Standard Life will also report its first-half results on Tuesday. The group has been hit hard in the post-Brexit financial fall-out and has failed to recover with the market.

Panmure Gordon is looking forward to a good underlying performance in the results, with operating profit up 9% at £315 million and a 7.6% boost to the interim dividend to 6.48p, which should pull the full-year pay-out up by a similar rate. Assets under administration are expected to have inched higher to £320 million from the £314 million at the end of March.

With a 433p price target representing 30% upside, of course Panmure's analyst Barrie Cornes rates the shares a 'buy'.

"Trading on 2016/17F PE multiples of only 11.0x and 10.1x respectively and yet delivering a 2016F dividend yield of 6.6%, we view the valuation as a buying opportunity and reiterate our 433p/share target price," he says.

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Regus, Quarto Group, Standard Life, Legal & General Group, GW Pharmaceuticals

AGM/EGM

Wednesday 10 August

Clearly, it's that time of year: financial services group Prudential will also release its first-half results this week. Unfortunately, they aren't expected to hit the lights out, with broker Panmure forecasting a flat performance as underlying growth and foreign exchange tailwinds are offset by lower US sales and a number of UK one-offs not being repeated.

Growth in Asia and the US should offset UK weakness, giving operating profit of £1.9 billion, on first-half sales of £2.8 billion. The analyst pencils in a 4.8% boost to the interim dividend to 12.91p per share.

Although there are headwinds, Cornes is optimistic: "We remain positive on Pru given the long term growth opportunities in Asia from the emerging middle classes and from the US from the retirement plans of the baby boomers whilst the UK remains a cash cow."

Still, with operational headwinds facing its three key business areas, Panmure Gordon has trimmed its target price from 1,545p to 1,891p, but retains his 'buy' rating.

Trading statements

Trafalgar New Homes

AGM/EGM

Triad Group, Rurelec

Thursday 11 August

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Aldermore Group, Coca-Cola, TUI, Derwent London, Grupo Clarin, Old Mutual Group, Pagegroup, Tritax Big Box Reit, Hastings Group, UK Select Trust, Glencore

AGM/EGM

Federal Bank, Boxhill Technologies

Friday 12 August

Trading statements

FBD Holdings, JSC TBC Bank, Volution Group

AGM/EGM

Central Rand Gold, iEnergizer

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.