Singapore Exchange - OCBC Investment 2024-07-01: Expecting Slightly Stronger Core Earnings Growth

Singapore Exchange - Expecting Slightly Stronger Core Earnings Growth

SGX (SGX:S68) | SGinvestors.ioSGX (SGX:S68)
  • For Singapore Exchange (SGX)’s upcoming FY24 results which is expected to be released around mid-Aug, we are forecasting its core PATMI to come in at S$530.1m, which is 2.6% higher than initially forecasted and implies expected growth of 5.3%.

Forecasting slightly stronger core PATMI growth in FY24 than previously expected

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  • We forecast SGX's dividends for FY24 to amount to S$0.345, which would translate to an increase of 6.2% and a dividend yield of 3.6%, based on SGX's share price of S$9.48.
  • - Read this at -

Robust market operating data trend

  • Based on SGX's announcement in early Jun, its market operating statistics showed a healthy trend for both securities and derivatives. This was one of the reasons driving our higher revenue forecasts.
  • SGX said that for May 2024, open interest (OI) rose to record highs across equity, foreign exchange (FX) and commodity derivatives.

SDAV jumped 22% y-o-y in May 2024

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Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @

OCBC Research Team OCBC Investment Research | 2024-07-01

Previous report by OCBC:
2024-02-01 Singapore Exchange - Controlling Costs Effectively.

Price targets by other brokers at SGX Target Prices.

Listing of research reports at SGX Analyst Reports.

Relevant links:
SGX Share Price History,
SGX Announcements,
SGX Dividends & Corporate Actions,
SGX News Articles


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