Etablissements FR Colruyt is engaged in wholesale, food service, distribution of fuels, production of electricity and digital printing. Co. has three operating segments: retail, which relates to stores under Co.'s own management which directly sell to retail customers and bulk consumers; wholesale and foodservice, which supplies to wholesalers, commercial customers and affiliated independent merchants; and other activities, which operates gas stations, engaged in printing and document management and provides alternative energy.
  • TickerCOLR
  • ISINBE0974256852
  • ExchangeEuronext Brussels
  • SectorFood & Drug Retailers
  • CountryBelgium

Analysts

Ahmed Ben Salem ...
  • Baptiste Lebacq
  • Bruno Cavalier
  • Christophe Chaput
  • Emmanuel Matot
  • Jerôme Bodin
  • Laurence Hofmann
  • Martial Descoutures
  • Pierre Corby

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/26/2018

...

Laurence Hofmann

ODDO : A disrupted end to 2018 for French retail and clarity still lacking on the impacts of EGA in 2019

>The “Gilet Jaunes” (yellow vests) impact: -3% on FMCG in the first week - On Thursday 22 November, we had the opportunity to participate in the Retail Execution Forum in Paris, an event jointly-organised by Nielsen, Externis and Editions Dauvers.The “Gilets Jaunes” (yellow vests) social movement in France which began on the week of 12 November comes at a crucial period for retailers (the last quarter is indeed the most profitable) and in a context of already lac...

Ahmed Ben Salem ...
  • Baptiste Lebacq
  • Bruno Cavalier
  • Christophe Chaput
  • Emmanuel Matot
  • Jerôme Bodin
  • Laurence Hofmann
  • Martial Descoutures
  • Pierre Corby

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 26/11/2018

Neoen est en passe de devenir un des grands groupes de référence des énergies renouvelables. Centré sur deux technologies à parité réseau et sur des zones géographiques de l’OCDE, Neoen affiche d’ores et déjà une croissance historique remarquable et de solides perspectives à l’horizon 2021e (TMVA 17/21e RNpg +57%). Notre objectif de cours fondé sur la moyenne entre le DCF, la SOP et la valorisation parc/parc ressort à 19,7 €. Au regard de la performance du titre (+17,9% en absolue dep...

Laurence Hofmann

ODDO : Fin d’année 2018 perturbée pour la distribution française et encore beaucoup de flou sur les impacts des EGA en 2019

>Impacts “Gilets Jaunes” : -3% sur les PGC la 1ère semaine - Nous avons eu l’opportunité de participer, jeudi dernier, au Retail Execution Forum à Paris, évènement co-organisé par Nielsen, Externis et les Editions Dauvers. Le mouvement social des “Gilets Jaune” en France qui a commencé dans la semaine du 12 novembre intervient à une période cruciale pour les distributeurs (le dernier trimestre est, en effet, le plus rentable) et dans un contexte de consommation déjà m...

Valérie GASTALDY

Short term view - COLRUYT SA : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at €50.92. Breaking below the support at €47.21 would invalidate the trend.

Laurence Hofmann

ODDO : A disrupted end to 2018 for French retail and clarity still lacking on the impacts of EGA in 2019

>The “Gilet Jaunes” (yellow vests) impact: -3% on FMCG in the first week - On Thursday 22 November, we had the opportunity to participate in the Retail Execution Forum in Paris, an event jointly-organised by Nielsen, Externis and Editions Dauvers.The “Gilets Jaunes” (yellow vests) social movement in France which began on the week of 12 November comes at a crucial period for retailers (the last quarter is indeed the most profitable) and in a context of already lac...

Laurence Hofmann

ODDO : Fin d’année 2018 perturbée pour la distribution française et encore beaucoup de flou sur les impacts des EGA en 2019

>Impacts “Gilets Jaunes” : -3% sur les PGC la 1ère semaine - Nous avons eu l’opportunité de participer, jeudi dernier, au Retail Execution Forum à Paris, évènement co-organisé par Nielsen, Externis et les Editions Dauvers. Le mouvement social des “Gilets Jaune” en France qui a commencé dans la semaine du 12 novembre intervient à une période cruciale pour les distributeurs (le dernier trimestre est, en effet, le plus rentable) et dans un contexte de consommation déjà m...

Alan Vandenberghe ...
  • Alexander Makar
  • Bart Cuypers
  • Jan Opdecam
  • Jason Kalamboussis
  • Lenny Van Steenhuyse
  • Sandra Cauwenberghs

KBC Securities Morning Note 27-9-2018 AED BB, COLR BB, FLUX BB, INGA NA, MITRA BB, RET BB

Aedifica: New acquisition in NL and delivery of 3 projects Colruyt: FY guidance consistent with our scenario Fluxys Belgium: Nice net profit evolution ING: Meeting CIO: innovation DNA in play Mithra: License and supply agreement for Myring in Chile Retail Estates: Capital increase via contribution in kind

Ioannis Pontikis

We've Increased Colruyt's FVE to EUR 33.50 From EUR 28; Bearish Thesis Intact; Shares Overvalued

No-moat Colruyt issued annual results for the 52 weeks to March 31, 2018, with revenue at 3.4% growth versus the year-ago period, in line with our expectations. While we retain our no-moat rating, we are increasing our fair value estimate to EUR 33.50 from EUR 28 to reflect higher wholesale segment profitability, a close to 100-basis-point upward revision of our inflation rate forecasts in Belgium (in line with our inflation rate forecasts in France), lower tax rates after the approval of the ne...

Laurence Hofmann

Colruyt : End of the share buyback plan: towards a return to a more rational valuation – the 27% premium vs the sector, looks excessive, in our view

>2017-18: a shade above expectations due to a more favourable competitive environment in H2 - Consolidated sales (€ 9,031m), +3.4%, incl. 2.8% organic excl. petrol, in line with our expectations. Growth of 10bp in market share in Belgium to 31.8% in 2017, but with a slight contraction in H2. Consolidated EBITDA (€ 734m), up 5.3% on an organic basis, 6.9% above our estimates of € 687m. Consolidated EBIT (€ 488m), +4.5% on an organic basis, 6.5% above our forecasts (€ 4...

1 director sold

A director at Colruyt Sa sold 10,417 shares at 51.770EUR and the significance rating of the trade was 93/100. 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. The names of board mem...

Ahmed Ben Salem ...
  • Baptiste Lebacq
  • Bruno Cavalier
  • Christophe Chaput
  • Emmanuel Matot
  • Jerôme Bodin
  • Laurence Hofmann
  • Martial Descoutures
  • Pierre Corby

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/26/2018

...

Ahmed Ben Salem ...
  • Baptiste Lebacq
  • Bruno Cavalier
  • Christophe Chaput
  • Emmanuel Matot
  • Jerôme Bodin
  • Laurence Hofmann
  • Martial Descoutures
  • Pierre Corby

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 26/11/2018

Neoen est en passe de devenir un des grands groupes de référence des énergies renouvelables. Centré sur deux technologies à parité réseau et sur des zones géographiques de l’OCDE, Neoen affiche d’ores et déjà une croissance historique remarquable et de solides perspectives à l’horizon 2021e (TMVA 17/21e RNpg +57%). Notre objectif de cours fondé sur la moyenne entre le DCF, la SOP et la valorisation parc/parc ressort à 19,7 €. Au regard de la performance du titre (+17,9% en absolue dep...

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

The independent financial analyst theScreener just lowered the general evaluation of COLRUYT (BE), active in the Food Retailers & Wholesalers industry. As regards its fundamental valuation, the title now shows 0 out of 4 stars while market behaviour can be considered moderately 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 September 21, 2018, the closing price was EUR 49.33 and its target price was estimated at EUR 46.63.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Colruyt - Proxy report - 26/09/2018

In general, Colruyt is in compliance with the Belgian regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 1, approval is sought for the report of the board of directors. Since ECGS has serious concerns over (executive) compensation and corporate governance at Colruyt, it recommends to vote OPPOSE. Under ITEM 2, the board of directors seeks approval for the Company's remuneration report. In light of insufficient disclosure and other concerns with regard to the executive compensation package, ECGS recommends to vote OPPOSE. Under ITEM 5, approval ...

Valérie GASTALDY

Short term view - COLRUYT SA : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at €50.92. Breaking below the support at €47.21 would invalidate the trend.

Valérie GASTALDY

Analyse court terme - COLRUYT SA : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 50,92 €. La rupture du support à 47,21 € invaliderait cette tendance.

Valérie GASTALDY

Analyse court terme - COLRUYT SA : Les cours progressent encore.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 50,92 €. La rupture du support à 47,21 € invaliderait cette tendance.

Valérie GASTALDY

Short term view - COLRUYT SA : Prices are still making progress

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at €50.92. Breaking below the support at €47.21 would invalidate the trend.

Valérie GASTALDY

Analyse moyen terme - COLRUYT SA : Les cours progressent toujours.

La tendance de fond est clairement orientée à la hausse. Les cours progressent toujours. Les objectifs suivants sont à 51,06 € et 55,25 €. La tendance serait invalidée sous le support à 41,29 €.

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