BT share price: what’s the latest ahead of its Q3 results?

The telecoms provider will unveil its third quarter results next week, with investors hoping for a positive trading update capable of lifting its share price after tumbling more than 10% since the beginning of January.

BT Group will unveil its third quarter (Q3) results on Thursday 30 January, with investors hoping for a positive update capable of reversing the early losses the stock has sustained since starting the new year.

The telecoms provider has seen its share price tumble more than 10% since the beginning of January, with it trading at 175p a share as of 15:25 (GMT) on Wednesday.

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BT sees margins squeezed amid tighter regulation

BT had a disappointing set of half-year results in October, with revenue sliding 2% to £11.5 billion and cash profits down 3% to £3.9 billion.

Its poor performance is due, in part, to the company seeing its margins squeezed by the regulator, Ofcom, which has demanded BT and its peers provide more high-speed internet connections at lower prices.

Openreach has great growth potential

Since being appointed as CEO back in February last year, Philip Jansen has looked to expand BT's Openreach business, which is responsible for rolling out the fibre cables that connect homes and businesses with super-fast internet.

Openreach has major growth potential and could deliver significant returns for BT in the coming years, with it tasked with providing the fibre infrastructure for the UK.

Thankfully, the telecoms provider will have a strong balance sheet capable of funding its growth ambitions after selling its Spanish operations in December to private equity firm Portobello Capital.

Deutsche Bank reiterates ‘sell’ rating in January

Analysts at Deutsche Bank remain pessimistic about BT, reiterating their ‘sell’ rating for the stock in January and leaving the price target unchanged at 169p a share.

Barclays Capital also reiterated their ‘underweight’ rating for the stock, with its analysts taking an even dimmer view than their German counterparts, issuing a 155p price target for BT.

Based on BT trading at 175p, Deutsche Bank and Barclays Capital believe the stock has a potential downside of -3.9% and -11.9% respectively.

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