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Next week on the stock market

What to expect from a selection of FTSE 100, FTSE 250 and selected other companies reporting next week.

Important notes

This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

Aarin Chiekrie
Equity Analyst

Published on 17 November 2023

This article is more than 6 months old

It was correct at the time of publishing. Our views and any references to tax, investment and pension rules may have changed since then.

What to expect from a selection of FTSE 100, FTSE 250 and selected other companies reporting next week:

Compass Group's 18% revenue growth target is in the spotlight
Will Polar Capital half-year results get a frosty reception?
Another record quarter expected for NVIDIA

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Among those currently scheduled to release results next week:

*Events on which we will be updating investors

20-Nov
Big Yellow Group	Half Year Results
Compass Group*	Full Year Results
Diploma	Full Year Results
Polar Capital Holdings*	Half Year Results
Sirius Real Estate	Half Year Results

21-Nov
Caledonia Investments	Half Year Results
Cranswick	Half Year Results
Nvidia*	Q3 Results
Petershill Partners	Q3 Trading Statement
Telecom Plus	Half Year Results
Workspace Group	Half Year Results
Worldwide Healthcare	Half Year Results

22-Nov
Britvic	Full Year Results
Coats Group	Trading Statement
Grainger	Full Year Results
HICL Infrastructure	Half Year Results
Johnson Matthey	Half Year Results
Kingfisher	Q3 Trading Statement
NextEnergy Solar Fund	Half Year Results
Rotork	Q3 Trading Statement
Sage Group	Full Year Results
Severn Trent	Half Year Results

23-Nov
FirstGroup	Half Year Results
Intertek Group	Trading Statement
Londonmetric Property	Half Year Results
Mitie Group	Half Year Results
Virgin Money	Full Year Results

24-Nov
No FTSE 350 Reporters

Compass Group – Sophie Lund-Yates, Lead Equity Analyst

As a catering supplier for large spaces and events (think stadiums, offices and campuses), Compass Group is benefitting from the return to normal life. Full-year organic revenue growth’s expected to rise 18%, with operating profit growth nearing 30%. Any deviation from these goalposts in next week’s results will cause a wobble from the market. We remain optimistic in the outlook but remember there are no guarantees.

We’ll be especially interested to see how demand from offices has been. This is an area of the economy that’s bouncing back in a different and hard-to-map way. There’s potential for the group to reprioritise other areas depending on how this shapes up over the medium term.

Outlook-wise, it will be important to understand how margins are faring. That will rest on how Compass expects companies and large-scale events to be affected by the economy. Outsourcing things like catering is a lever that businesses can pull when the going gets tough to get a better handle on costs.

See the Compass Group share price, charts and our latest view

Polar Capital – Derren Nathan, Head of Equity Research

We’ve already heard that Polar Capital's Assets under Management (AuM) of £19.1bn were broadly flat at the halfway point of the financial year. That should mean that management fees to be reported in next week’s interim results probably haven’t moved much either. But flat can still be complicated. Investors in Polar’s funds withdrew £581m in the first half. It was investment performance that propped up AuM. That bodes well for performance fees in the half just gone.

But we’ll be looking out for a further steer on fund flows which are critical for the long-term health of the business. Polar Capital held its dividend flat at both the halfway and endpoint last year, despite a challenging 12 months. We have some questions as to whether that’s sustainable so will also be keeping an eye out for any update on payments to shareholders.

See the Polar Capital share price, charts and our latest view

NVIDIA – Derren Nathan, Head of Equity Research

NVIDIA is expecting to break further records when it reports its third-quarter results next week. Market forecasts are looking for the boom in generative AI to drive a near three-fold uplift in sales, almost entirely because of increased Data Centers revenue. At the bottom line, growth is expected to be even faster although there are no guarantees.

We certainly see no shortage of demand for the Company’s high-speed processors which continue to evolve rapidly. But supply chain issues and export restrictions to China could act as brakes on growth so we’ll be looking out for updates on both issues. Investors have seen very strong capital growth in the shares of late, but earnings forecasts have more than kept up meaning the valuation is a little below the long-term average. Given the attention on the stock however, the market is likely to be sensitive to any change in the outlook.

See the NVIDIA share price, charts and our latest view

Unless otherwise stated estimates are a consensus of analyst forecasts provided by Refinitiv. These estimates are not a reliable indicator of future performance. Past performance is not a guide to the future. Investments rise and fall in value so investors could make a loss.

This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment. This article has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is considered a marketing communication. Non-independent research is not subject to FCA rules prohibiting dealing ahead of research, however HL has put controls in place (including dealing restrictions, physical and information barriers) to manage potential conflicts of interest presented by such dealing. Please see our full non-independent research disclosure for more information.

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