CGG is a global participant in the geophysical seismic industry. Co. manufactures geophysical equipment and provides marine, land, and airborne data acquisition services. Co. also provides geosciences services, including data imaging, seismic data characterization, geosciences and petroleum engineering consulting services, and collecting, developing and licensing geological data. Co.'s clients are in oil and gas exploration and production industies. Co. divides its activities into four segments: Equipment, Contractual Data Acquisition, Geology, Geophysics and Reservoir (GGR), and Non-Operated Resources, including eight business lines, six Corporate functions, and four Group Departments.
  • TickerCGG
  • ISINFR0013181864
  • ExchangeEuronext Paris
  • SectorOil Equipment, Services & Distribution
  • CountryFrance

Analysts

Martin Huseby Karlsen

Takeaways from E&P conference

A key theme at last week’s Norwegian-focused E&P industry conference was leveraging on existing infrastructure, meaning there are mostly small-scale developments and tieback projects on the horizon, which implies smaller orders and short-term drilling programmes for the service industry. Hence, the oil companies remain confident in maintaining a favourable service pricing environment. Within subsea, early engagement and integrated alliances continue; of the companies we cover, this favours TechnipFMC and Subsea 7 over Aker Solutions. From an environmental focus, reducing carbon footprints thro...

Alain William ...
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Martial Descoutures
  • Nicolas David
  • Olfa Taamallah
  • Oussema Denguir
  • Stephane Houri
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 11/06/2019

...

Jean-François Granjon

CGG : Strong quarterly performance, FY targets confirmed

>Q3 results beat our expectations - CGG reported Q3 results ahead of our expectations and consensus, in line with the trends indicated in a previous trading update (early September, revenue > $ 350m). Segment revenue stood at $ 381.7m ($ 352.2m estimated, consensus $ 357m) vs $ 281.5m, up by nearly 36%. This revenue reflects robust Multi-client growth (+92%). EBITDA came in at $ 225.3m ($ 178.8m estimated, consensus $ 193m) vs $ 123.3m (+83%). Finally, operating profi...

Alain William ...
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Martial Descoutures
  • Nicolas David
  • Olfa Taamallah
  • Oussema Denguir
  • Stephane Houri
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 06/11/2019

...

Martin Huseby Karlsen

Takeaways from E&P conference

A key theme at last week’s Norwegian-focused E&P industry conference was leveraging on existing infrastructure, meaning there are mostly small-scale developments and tieback projects on the horizon, which implies smaller orders and short-term drilling programmes for the service industry. Hence, the oil companies remain confident in maintaining a favourable service pricing environment. Within subsea, early engagement and integrated alliances continue; of the companies we cover, this favours TechnipFMC and Subsea 7 over Aker Solutions. From an environmental focus, reducing carbon footprints thro...

Jean-François Granjon

CGG : Strong quarterly performance, FY targets confirmed

>Q3 results beat our expectations - CGG reported Q3 results ahead of our expectations and consensus, in line with the trends indicated in a previous trading update (early September, revenue > $ 350m). Segment revenue stood at $ 381.7m ($ 352.2m estimated, consensus $ 357m) vs $ 281.5m, up by nearly 36%. This revenue reflects robust Multi-client growth (+92%). EBITDA came in at $ 225.3m ($ 178.8m estimated, consensus $ 193m) vs $ 123.3m (+83%). Finally, operating profi...

Jean-François Granjon

CGG : Très bonne performance trimestrielle – Objectifs annuels confirmés

>Publication des résultats T3 2019 supérieurs à nos attentes - CGG publie des résultats T3 supérieurs à nos attentes et celles du consensus, en ligne avec les tendances indiquées dans le cadre d’un précédent trading update (cf. début septembre, CA > 350 M$). Le CA des activités ressort à 381,7 M$ (352,2 M$ estimé, 357 M$ pour le cs) en croissance de près de 36%. Ce CA traduit une très forte croissance Multi-clients (+92%). L’EBITDA ressort pour sa part à 225,3 M$ (178...

Jon Masdal

CGG (Hold, TP: EUR2.30) - Solid late sales, no 2020e revisions

CGG reported Q3 EBITDA of USD225m, above our estimate of USD202m and consensus of USD193m, with the beat driven by strong late sales helped by one-off transfer fees. We expect no consensus revisions on the back of the report. Despite the shares being strong into the numbers we believe a small outperformance versus peers is warranted today.

Martin Huseby Karlsen

Looks like another soft cash flow quarter

Four oil majors have so far reported their Q3 results, with the other four due later this week. Based on the reports to date, the overspending in H1 looks to have continued in Q3, with combined overspending of 9% from the four majors. Adjusted for positive working capital changes, their overspending is 12%. The Q3 average oil price was USD62/bbl, versus the current spot of USD60/bbl. Should the oil price remain around current levels (USD60–65/bbl) we see limited room for oil companies to increase E&P spending given their continued high priorities of dividends and buybacks.

1 director bought

A director at Compagnie Generale De Geophysique bought 10,000 shares at 1.823EUR and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. ...

Alain William ...
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Martial Descoutures
  • Nicolas David
  • Olfa Taamallah
  • Oussema Denguir
  • Stephane Houri
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 11/06/2019

...

Alain William ...
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Martial Descoutures
  • Nicolas David
  • Olfa Taamallah
  • Oussema Denguir
  • Stephane Houri
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 06/11/2019

...

Eivind Sars Veddeng ...
  • Frank Maaø
  • Håkon Astrup
  • Joachim Gunell
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Niklas Wetterling
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Jon Masdal ...
  • Jørgen Lian
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Mats Bye
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Patrik Ling
  • Tomi Railo

Northern Lights

Jimi Lehtonen ...
  • Jon Masdal
  • Martin Huseby Karlsen
  • Ole-Andreas Krohn
  • Patrik Ling
  • Tomi Railo

Northern Lights

CGG sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of CGG (FR), active in the Oil Equipment & Services industry. As regards its fundamental valuation, the title now shows 2 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date October 1, 2019, the closing price was EUR 1.98 and its target price was estimated at EUR 1.38.

Charles Pinel

CGG - Assemblée générale des actionnaires du 15 mai 2019

A la suite du plan de restructuration financière et de la modification de l'actionnariat, la société a été marquée en 2018 par l'évolution de la gouvernance avec l'arrivée de Philippe Salles à la présidence du conseil en remplacement de Remi Dorval et la nomination de Sophie Zurquiyah comme Directeur général en remplacement de Jean-Georges Malcor. Par ailleurs, le nombre de membres au conseil sera réduit de 11 à 9 à l'issue de la présente assemblée générale. Les conditions de départ de Jean-Georges Malcor sont inacceptables. Proxinvest évalue l'ensemble de ses avantages à 5,5 M€ (estimation d...

Matthieu DRIOL

Short term view - CGG : The trend is bearish.

The trend is bearish. Prices are falling again, but the movement has become hesitant. The next support is at €1.952. The bearish trend would be challenged above €3.578.

Matthieu DRIOL

Analyse court terme - CGG : La tendance est baissière.

La tendance est baissière. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 1,952 €. La tendance baissière serait remise en cause au-dessus de 3,578 €.

Matthieu DRIOL

Short term view - CGG : The trend is bearish.

The trend is bearish. The movement goes on. The next target is at €1.952, then €1.700. Passing €3.578 would question the continuation of the fall.

Matthieu DRIOL

Analyse court terme - CGG : La tendance est baissière.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 1,952 €, puis 1,700 €. Le franchissement de 3,578 € remettrait en cause la suite de la baisse.

Valérie GASTALDY

Analyse moyen terme - CGG : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 2,000 €, puis 1,295 €. Le franchissement de 4,100 € remettrait en cause la suite de la baisse.

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