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    PSON   GB0006776081

PEARSON PLC

(PSON)
  Report
Delayed London Stock Exchange  -  11:35 2022-09-28 am EDT
856.40 GBX   -0.40%
09/27JPMorgan Keeps Pearson at Overweight, Raises PT
MT
09/21PEARSON PLC : Security operations
CO
09/19PEARSON PLC : Security operations
CO
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Energy stocks drag European shares lower, reversing earlier gains

08/01/2022 | 04:46am EDT

* Euro zone factory activity contracted in July

* German retail sales post biggest year-on-year slump since 1994

* HSBC rallies after rebuffing Ping An breakup call, profit beat

* STOXX snaps three-day win streak

Aug 1 (Reuters) - European shares edged down on Monday, dragged lower by energy stocks amid fears of a global economic slowdown fanned by disappointing Chinese economic data and figures showing contraction in euro zone manufacturing activity.

The pan-European STOXX 600 slipped 0.1% after a choppy trading day, reversing slim earlier gains.

Factories across the United States, Europe and Asia struggled for momentum in July as flagging global demand and China's COVID-19 restrictions slowed production, surveys showed, fanning fears of a recession.

Energy stocks shed 1.5%, snapping six straight days of gains, as crude prices dropped sharply after the weak factory data renewed demand concerns.

Meanwhile, euro zone unemployment was steady at 6.6% of the workforce in June, the European Union's statistics office said, in line with market expectations.

"The labour market will remain tight even as the economy heads into recession, maintaining the upward pressure on wage growth and inflation," said Jack Allen-Reynolds, senior Europe economist at Capital Economics.

"We expect (pay growth) to pick up further as workers facing record inflation push for bigger wage increases. That will add to the cost pressures facing companies, which in turn is likely to keep consumer price inflation strong next year."

European stocks posted their best monthly performance on Friday since November 2020 helped by strong earnings from corporate Europe, even as broader sentiment remained fragile.

"The picture being painted is looking increasingly bleak for the EU, and a drill down of the numbers shows lower sales, declining rates of new orders and exports, and large rises in stocks," said Stuart Cole, head macro economist at Equiti Capital.

"The expectation has to be that manufacturers will be cutting output further going forward."

In Germany, the powerhouse of the European economy, data showed retailers ended the first half of 2022 with the sharpest year-on-year sales drop in nearly three decades, as inflation, the Ukraine conflict and the pandemic take their toll.

Heineken NV slipped 0.4% as the world's second-largest brewer shelved its margin target for 2023 as costs spiked.

Pearson jumped 12.7% to top the benchmark index after the British education group reiterated its full-year profit outlook.

Other boosts came from banking stocks after London-listed HSBC jumped 6.1% on a profit beat and prospects for chunkier dividends.

Europe's largest bank also pushed back on a proposal by top shareholder Ping An Insurance Group Co of China to split the lender, arguing the move would be costly.

(Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Shounak Dasgupta and Tomasz Janowski)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
HEINEKEN HOLDING N.V. -0.21% 70.35 Real-time Quote.-13.12%
HEINEKEN N.V. -0.33% 89.84 Real-time Quote.-8.82%
PEARSON PLC -0.40% 856.4 Delayed Quote.40.22%
PING AN INSURANCE GROUP COMPANY -4.18% 39 Delayed Quote.-27.52%
STOXX EUROPE 600(EUR)(TR) 0.31% 897.15 Delayed Quote.-18.59%
All news about PEARSON PLC
09/27JPMorgan Keeps Pearson at Overweight, Raises PT
MT
09/21PEARSON PLC : Security operations
CO
09/19PEARSON PLC : Security operations
CO
09/16PEARSON PLC : Security operations
CO
09/15PEARSON PLC : Security operations
CO
09/14PEARSON PLC : Security operations
CO
09/13Pearson plc Declares Interim Dividend for the Year 2022, Payable on 20 September 2022
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09/13PEARSON PLC : Security operations
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09/13PEARSON PLC : Dividends
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09/12PEARSON PLC : Security operations
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Analyst Recommendations on PEARSON PLC
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Financials
Sales 2022 3 745 M 4 028 M 4 028 M
Net income 2022 255 M 274 M 274 M
Net Debt 2022 622 M 669 M 669 M
P/E ratio 2022 24,1x
Yield 2022 2,59%
Capitalization 6 225 M 6 695 M 6 695 M
EV / Sales 2022 1,83x
EV / Sales 2023 1,69x
Nbr of Employees 21 350
Free-Float 99,1%
Chart PEARSON PLC
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Technical analysis trends PEARSON PLC
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 16
Last Close Price 859,80 GBX
Average target price 909,27 GBX
Spread / Average Target 5,75%
EPS Revisions
Managers and Directors
Andrew Bird Chief Executive Officer & Non-Executive Director
Sally Kate Miranda Johnson Chief Financial Officer & Executive Director
Omid R. Kordestani Non-Executive Chairman
Linda Koch Lorimer Independent Non-Executive Director
Tim Score Deputy Chairman
Sector and Competitors