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The week ahead: Sky in focus
By Interactive Investor | Fri, 6th October 2017 - 16:18
Here are the big company events happening over the next week that investors need to know about.
Monday 9 October
XP Power, ICG Enterprise Trust, Centamin, YouGov, Plant Impact, CAP-XX, City of London Investment Group, Trinity Mirror
Tuesday 10 October
Ted Baker, 1Spatial, LiDCO Group, Vedanta Resources
Scancell Holdings, Mortice
Wednesday 11 October
PageGroup, Quiz, Mondi, Jupiter Fund Management, Dunelm
Thursday 12 October
Broadcaster Sky (SKY) dishes up first-quarter results Thursday, but we're unlikely to get a full break down of financials and KPIs. However, there should be enough meat on the bone to get investors interested.
"Overall, we expect decent growth in financials, solid KPIs and see upside risk to FY estimates," say analysts at UBS.
Look for underlying revenue growth of 4.7% to £3.31 billion, with the UK up 4.5%, Germany 9.5% and Italy 3%. Underlying cash profit is tipped to come in up 4.3% at £546 million and underlying operating profit up 4.7% at £353 million.
"The UK should benefit from communications price rises in the prior quarter and growth in Sky Mobile, partially offset by a weak advertising environment," the broker says.
Net adds in the UK are seen up 55,000 compared with 35,000 for the fourth quarter and 35,000 a year ago.
Sky currently trades on 13 times calendarised earnings per share based on 2018 estimates. "Near-term, investor focus is likely to remain on the Fox bid and the upcoming Premier League rights auction (likely calendar Q1 2018)," writes UBS. "We think regulatory hurdles for the Fox/Sky deal are surmountable and believe Sky could see a satisfactory outcome on the Premier League auction."
Sky, Booker, WH Smith
Friday 13 October
Man Group, Provident Financial, Ashmore
This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.