Shoprite results preview

Shoprite Holdings is set to release FY18 results on the 20th of August 2018.

Top Line estimates

Bloomberg consensus estimates are suggesting revenue for the twelve month period to be realised at R50.765bn and earnings (GAAP) to come in at around R11.09 per share or R10.81 per share (on an adjusted basis).

Shoprite BR 17082018

Average Broker Ratings (Institutional View)

The average broker rating for Shoprite (from a poll of twelve brokers surveyed by Thompsons Reuters) is hold. The long term price target (12 month), as gauged by a median of analyst estimates is considered at 24873c.

Shoprite SC 17082018

IG Client Positioning (Retail trader View)

Shoprite Holdings remains very popular amongst IG clients with 93% of traders holding the stock (as of Friday the 20th of August) expecting the price to rise over the near term. 55% of trading activity in the last week and 59% of trading activity over the last month has however been on the sell side.

Technical View

Shoprite 17082018

The near term price action of Shoprite Holdings is to trade within a range between the 20125 and 22200 levels. The current rangebound price environment is indicative of a market waiting for its next directional catalyst, which could be the upcoming results release. While range traders might look to capitalise on movements between these levels, trend followers might prefer to wait for a break of the 20125 level of support, or the 22200 level of resistance, before getting involved. Unfortunately the price currently trades in the middle of this range providing no directional conviction or trading opportunity right now. Short term traders might therefore hope for the results release to provide the catalyst for either a range trade or breakout trading opportunity.

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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This information has been prepared by IG, a trading name of IG Markets Limited and IG Markets South Africa 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. International accounts are offered by IG Markets Limited in the UK (FCA Number 195355), a juristic representative of IG Markets South Africa Limited (FSP No 41393). South African residents are required to obtain the necessary tax clearance certificates in line with their foreign investment allowance and may not use credit or debit cards to fund their international account.

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