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

2 directors bought

Two Directors at Colruyt Sa bought 19,600 shares at between 50.580EUR and 52.000EUR. The significance rating of the trade was 100/100. 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....

Ioannis Pontikis

Morningstar | Colruyt Reports Underwhelming FY19 as Competition Intensifies; Shares Down 15% but Still Rich

No-moat Colruyt issued fiscal 2019 results, with revenue at 4.5% growth versus the year-ago period, broadly in line with our expectations. Colruyt said it expects price and promotional pressure to intensify in a challenging Belgian retail market. We maintain our no-moat rating and do not anticipate altering our FVE of EUR 35.50 as we roll our model forward to account for fiscal 2019 results. Operating income was in line with our estimates but lower than consensus. EBIT was down 0.7% to EUR 485 million, implying a 5.1% margin, a function of lower gross margin (promotional pressure) and higher ...

Ioannis Pontikis

Colruyt Reports Underwhelming FY19 as Competition Intensifies; Shares Down 15% but Still Rich

No-moat Colruyt issued fiscal 2019 results, with revenue at 4.5% growth versus the year-ago period, broadly in line with our expectations. Colruyt said it expects price and promotional pressure to intensify in a challenging Belgian retail market. We maintain our no-moat rating and do not anticipate altering our FVE of EUR 35.50 as we roll our model forward to account for fiscal 2019 results. Operating income was in line with our estimates but lower than consensus. EBIT was down 0.7% to EUR 485 m...

Alan Vandenberghe ...
  • Alexander Makar
  • Bart Cuypers
  • Jan Opdecam

Morning Note: BAMNB NA, COLR BB, MONT BB, XIOR BB

BAM Group: IJmuiden sea lock on-site press visit Colruyt: Feedback analyst meeting Montea: First carbon free logistic building Xior: ROXI: the new way of living concept by Xior

Alan Vandenberghe ...
  • Guy Sips
  • Joachim Vansanten
  • Thomas Couvreur

Morning Note: ADYEN NA, COLR BB, OPTI BB , GIMB BB

Adyen: Facebook’s Libra coin / placement of 465k shares Colruyt: In line results, warns for increased competition Crescent: Bagaar will use Option’s communication technology Gimv: € 150m-€ 250m bond issue and investment in Alro

Ioannis Pontikis

Morningstar | Colruyt Reports Underwhelming FY19 as Competition Intensifies; Shares Down 15% but Still Rich

No-moat Colruyt issued fiscal 2019 results, with revenue at 4.5% growth versus the year-ago period, broadly in line with our expectations. Colruyt said it expects price and promotional pressure to intensify in a challenging Belgian retail market. We maintain our no-moat rating and do not anticipate altering our FVE of EUR 35.50 as we roll our model forward to account for fiscal 2019 results. Operating income was in line with our estimates but lower than consensus. EBIT was down 0.7% to EUR 485 million, implying a 5.1% margin, a function of lower gross margin (promotional pressure) and higher ...

Ioannis Pontikis

Colruyt Reports Underwhelming FY19 as Competition Intensifies; Shares Down 15% but Still Rich

No-moat Colruyt issued fiscal 2019 results, with revenue at 4.5% growth versus the year-ago period, broadly in line with our expectations. Colruyt said it expects price and promotional pressure to intensify in a challenging Belgian retail market. We maintain our no-moat rating and do not anticipate altering our FVE of EUR 35.50 as we roll our model forward to account for fiscal 2019 results. Operating income was in line with our estimates but lower than consensus. EBIT was down 0.7% to EUR 485 m...

Alan Vandenberghe ...
  • Alexander Makar
  • Bart Cuypers
  • Jan Opdecam

Morning Note: BAMNB NA, COLR BB, MONT BB, XIOR BB

BAM Group: IJmuiden sea lock on-site press visit Colruyt: Feedback analyst meeting Montea: First carbon free logistic building Xior: ROXI: the new way of living concept by Xior

Alan Vandenberghe ...
  • Guy Sips
  • Joachim Vansanten
  • Thomas Couvreur

Morning Note: ADYEN NA, COLR BB, OPTI BB , GIMB BB

Adyen: Facebook’s Libra coin / placement of 465k shares Colruyt: In line results, warns for increased competition Crescent: Bagaar will use Option’s communication technology Gimv: € 150m-€ 250m bond issue and investment in Alro

Ioannis Pontikis

Morningstar | Another Good Performance for Colruyt in the First Half Amid Soft Competition; Shares Overvalued

No-moat Colruyt issued fiscal 2019 half-year results, with revenue at 3% growth versus the year-ago period, broadly in line with our expectations. While we retain our no-moat rating, we are increasing our fair value estimate to EUR 35.50 from EUR 33.50 primarily to reflect better than expected performance in France and the time value of money. Operating income surprised on the upside. The company said the group’s good performance was mainly a function of improved gross margins in the first half, helped by a supportive Belgian CPI-PPI trend, with subdued competition and cost improvements ident...

2 directors bought

Two Directors at Colruyt Sa bought 19,600 shares at between 50.580EUR and 52.000EUR. The significance rating of the trade was 100/100. 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....

Alfred Glaser ...
  • Charles Lepetitpas
  • Delphine Brault
  • Jean Sassus
  • Jerôme Bodin
  • Laurence Hofmann
  • Nicolas David
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 12/12/2018

Are we about to see the deterioration of "actuarial" themes via a repricing linked to the rise in interest rates and therefore a value rotation, or the return to a lacklustre economic environment, resulting in an umpteenth phase where the growth style prevails in 2019? The European equation is particularly complex. While, in the context of monetary normalisation, the macro scenario argues in favour of a hike in interest rates (and therefore value exposure), the reality, which is curre...

Alfred Glaser ...
  • Charles Lepetitpas
  • Delphine Brault
  • Jean Sassus
  • Jerôme Bodin
  • Laurence Hofmann
  • Nicolas David
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 12/12/2018

Va-t-on assister à la dégradation des thématiques « actuarielles » via un repricing lié à la hausse des taux et donc à une rotation value, ou bien au retour d'une conjoncture médiocre menant à une nième phase de domination de la croissance en 2019 ? L’équation européenne est particulièrement compliquée. Alors que le scénario macroéconomique plaide, dans un contexte de normalisation monétaire, pour une hausse des taux (et donc une exposition value), la réalité, pour le moment médiocre ...

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 Neutral 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 defensive. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Neutral. As of the analysis date June 14, 2019, the closing price was EUR 62.48 and its target price was estimated at EUR 59.24.

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...

Colruyt – Proxinvest Corporate Governance Rating ® : E

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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 €.

ResearchPool Subscriptions

Get the most out of your insights

Get in touch