Vodafone share price: what’s the latest after posting €1.9 billion loss?

The telecoms company continues to see its share price slide despite upgrading its full-year earnings guidance last month, with stiff competition and high levels of expenditure weighing on the stock.

Vodafone Group continues to see its share price slide despite upgrading its full-year earnings guidance last month, with competition in the telecoms sector remaining intense, hindering it from reigning in its spending.

Despite the earnings upgrade, investor sentiment was weakened by Vodafone announcing a €1.9 billion loss for the six months to end September.

The loss led Vodafone to slash its interim dividend by 7% to 4.50 euro cents per share compared with last year, representing a yield of 5.46%.

The telecoms company has seen its share price fall 12% since unveiling its half-year results last month, where it upgraded its full-year earnings guidance to between €14.8bn and €15bn, up from its previous range of €13.8bn to €14.2bn.

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Analysts downgrade price targets but remain upbeat

Analysts at UBS, JP Morgan and Deutsche Bank all lowered their price targets for the stock in November to 200p, 220p and 240p respectively.

However, all three banks still see Vodafone’s share price as undervalued at 145p as of 15:35 GMT on Tuesday.

Based on the company’s current share price, analysts believe that the stock has a potential upside of 37.9% to 65%.

You can go long or short Vodafone with IG using derivatives like CFDs.

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