BT Share Price Earnings Preview

Summary:

What is the forecast for the BT share price ahead of earnings? We explain what to expect later this week

The BT share price is in a consolidation phase as investors wait for the company’s trading update scheduled for Wednesday this week. The stock is trading at 182p, where it has been in the past few days. This values BT Group at more than £25 billion.

BT earnings. BT will be among many FTSE 100 index companies that will publish their quarterly results this week. Other top companies that will publish are BP, Shell, and British American Tobacco, among others. The firm’s earnings come at a time when the company is seeing strong demand for its phone and data services as the economy reopens.

Therefore, investors expect that it did well in the first quarter and the first half of the year as demand for its services rose. They also expect the company’s savings to help it emerge from the pandemic.

It is an interesting time for BT and most UK companies. For one, it seems like foreign investors are falling in love with UK companies like Morrisons and Avast. This could lead to more demand for BT, which is seen as a leading acquisition target. Indeed, recently, Patrick Drahi of Altice acquired the biggest stake in the firm. Meanwhile, the company is in the process of exiting or reducing its non-core BT Sports stake. So, what next for the BT share price?

BT share price analysis

Regular readers know that I am a bit biased about the BT stock. In my previous articles, I noted that the stock was forming the Elliot wave pattern. I said that it was in the fifth stage of this pattern. Therefore, I wrote that the stock would drop to 177p and then resume the upward trend. This prediction was fairly accurate, as shown in the chart below.

Therefore, the stock is about to start its fifth wave of the Elliot wave. This means that it will likely rise ahead or after its quarterly results later this week. If this happens, the next key level to watch will be 200p.