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Ocado Q4 trading statement: will M&S deal help drive revenues higher?

Ocado group has been enjoying a great year, yet with the latest trading statement due, will the company continue to outperform the industry?

When is the Ocado group trading statement due?

Ocado Group will provide a trading statement on Thursday 12 December.

Ocado group trading statement preview: main talking points

Ocado group has enjoyed a great year, with the firm currently trading 54% higher over the course of the past year. Much of this is based on expectations rather than earnings themselves, with a rise in debt highlighting the fact that this company is very much in its expansion phase which typically comes with added expenditure and lower profits. While many will be interested in the latest deal between Ocado and Japanese retailer Aeon, yet the most likely deal to impact Thursday’s number will be the deal with Marks & Spencer. Each trading statement provides a focus on the three specific indicators; retail revenue, average orders per week, and average order size. We have regularly seen circa 11% gains for the retail revenues and average weekly orders, yet we continue to see slight declines in the order size over recent quarters.

What do the analysts say?

There are currently 19 analysts covering the stock, with six ‘Buy’, six ‘Hold’ and seven ‘Sell’. The current median target price of £12.00 is 0.37% below the current £12.01 price.

Ocado group share price: technical analysis

Looking at the daily chart, Ocado has been turning lower from the £13.93 resistance level. That gap into an evening star candle on 29 November ultimately resulted in a gap lower, to form an abandoned baby pattern. With price turning lower since, there is a chance we could see a continuation of this recent weakness. Watch for a break below £11.74 to bring about a bearish signal to point towards a move into the £10.72-£10.54 support zone.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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