BT Q3 results: how will they move the share price?

BT has recovered from a record low, but barring some impressive Christmas trading there is unlikely to be much good news in the upcoming Q3 results.

When is BT’s results announcement?

BT reports third-quarter (Q3) results on 30 January.

Get the latest updates on BT's earnings as they happen

BT results: what does the City expect?

Labour’s election defeat removed fears of nationalisation for its OpenReach infrastructure division, but this small piece of good news does little for the firm or for its beleaguered share price. Investors will want to see further progress on the new superfast broadband rollout, a key intiative in retaining customers, while signs of better trading over the last few months may help stem the losses in the shares. Forecasts point to a decline of 1.7% for Q3 revenue and 3.7% for earnings.

How to trade BT’s earnings

At 7.1 times forward earnings, BT shares are still cheap, but they have been getting cheaper since late 2015, with no sign that bargain hunters are going to be rewarded for their patience. A forward dividend yield of 7% is not excessively high, but so far there is at least no sign of a cut in the payout, even if an increase is even less likely. Continued pressure on cash flow does mean that the dividend is not a permanent fixture.

BT shares: technical analysis

BT hit an all-time low in August at 154p, and while a rebound has taken place since then it has been a choppy ride. Two attempts to clear 200p have failed, so further long-term upside requires a push above this level. January saw the price drop below the November support zone around 180p, so while it has stabilised for now at 170p, further declines bring 154p back into play.

BT: not for widows and orphans

To underperform the FTSE 100, is an achievement. To do it by such a wide margin is impressive. BT is down 60% over the past five years compared to a 10% gain for the FTSE 100 on price alone. There is no sign that this has changed, and so while investors look for renewed strength as the bull market moves into a new year, they are unlikely to find it in BT.

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

Please see important Research Disclaimer.

Seize a share opportunity today

Go long or short on thousands of international stocks.

  • Increase your market exposure with leverage
  • Get spreads from just 0.1% on major global shares
  • Trade CFDs straight into order books with direct market access

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.


Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.