Sainsbury’s share price: what to expect from its Q3 trading update?
The British supermarket chain will unveil its third quarter results on Wednesday, with investors hoping the festive season will give Sainsbury’s and its share price a boost.
Sainsbury's will unveil its third quarter (Q3) results on Wednesday, with investors expecting the supermarket chain to get a boost over the Christmas period that could send its share price higher.
A sales boost over the Christmas period will be welcomed by Sainsbury’s and investors alike after UK supermarkets saw revenue growth slow in the 12 weeks to December 1.
The slump in sales was caused by uncertainty over the general election, a ‘lacklustre’ Black Friday and a wet autumn delaying consumers Christmas preparations, according to research carried out by Kantar.
Morrisons performed worst out of the big four UK supermarkets, with sales down 2.9% over the 12-week period. Meanwhile, Asda saw sales fall 1.9%, Sainsbury's sales slipped 1.1% and Tesco's tumbled 0.8% lower.
Sainsbury’s is trading at 255p a share as of 13:35 GMT on Monday.
Looking to trade Sainsbury’s and other stocks? Open a live or demo account with IG.
BNP Paribas upgrades Sainsbury’s rating to ‘outperform’
Analysts at BNP Paribas are optimistic about Sainsbury’s, with the bank upgrading its rating for the stock from ‘neutral’ to ‘outperform’ in December, leaving its price target unchanged at 260p a share.
Based on Sainsbury’s trading at 255p, analysts at the French bank believe the stock has a potential upside of 1.9%.
If Sainsbury’s is able to produce a strong set of results in its upcoming trading update on Wednesday, the stock could potentially break through 260p levels.
You can go long or short Sainsbury’s with IG using derivatives like CFDs.
The information 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 Bank S.A. 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 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.
Act on share opportunities today
Go long or short on thousands of international stocks with CFDs.
- Get full exposure for a comparatively small deposit
- Trade on spreads from just 0.1%
- Get greater order book visibility with direct market access
See opportunity on a stock?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Take your position
- See whether your hunch pays off
See opportunity on a stock?
Don’t miss your chance – upgrade to a live account to take advantage.
- Trade a huge range of popular stocks
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See opportunity on a stock?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
