GlaxoSmithKline (GSK) Q1 2023 results preview, with broker ratings and price targets
The FTSE and NYSE listed GSK PLC is expected to report lower revenue and earnings for the first quarter, relative to the prior year's comparative period.
When is GlaxoSmithKline (GSK) earnings date?
The GlaxoSmithKline (GSK), the NYSE and FTSE listed global pharmaceutical company’s earnings release date is scheduled for the 26th of April 2023. The scheduled results will cover the groups first quarter of the 2023 fiscal year (Q1 2023).
GSK results preview: What does the street expect?
In terms of the upcoming results, a mean of analyst estimates compiled by Refinitiv data arrive at the following:
- Revenue GBP6.499bn (-33.59% year on year)
- Earnings per share (EPS) $0.34 (-17.07% year on year)
Q1 2023 results will find a strong base of comparison in Q1 2022 where COVID-19 solutions provided a meaningful contribution to both revenue and earnings. The group has stated that ‘based on known binding agreements with governments, GSK does not anticipate any significant COVID19 pandemic-related sales or operating profit in 2023’. Turnover and earnings are in turn expected to decline in both the first and second quarter of 2023.
How to trade the GlaxoSmithKline results
A Refinitiv poll of analyst ratings arrive have a long-term consensus rating of ‘hold’ for GlaxoSmithKline.
A consensus of analyst long-term price targets for GSK Plc (UK) arrives at a median price of GBP16.64.
A consensus of analyst long-term price targets for GSK Plc (US) arrives at a median price of $44.36.
GlaxoSmithKline (GSK) share price: technical analysis
GSK Plc (UK)
The share price of GSK continues to trade within a rangebound price environment between levels 1375 (support) and 1500 (resistance).
After a false break of range resistance, we see the price now retracing from overbought territory and towards the mid-point of the range at around 1440.
Traders who are short might consider using a close either above the 1500 or 1525 level as a stop loss indication for the trade (depending on threshold for risk).
Traders looking for long entry might instead wait for short term weakness to play out and end with a bullish price reversal around either the 1440 or 1375 support levels. Alternatively, a long breakout trade would be considered should wee see the price manage to close above resistance at 1525.
In summary
- GSK results are scheduled for the 26th of April 2023
- EPS and revenue are expected to decline against a a strong comparative quarter in the prior year’s comparative
- The broker consensus rating for GSK is a hold, although the share price continues to trade at a discount to the median of long-term price targets
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