JCDecaux S.A.

JC Decaux specializes in outdoor advertising. Co.'s business mainly consists of the sale of advertising space for these activities: Street Furniture, Transport Advertising and Billboard. The Street Furniture segment covers the advertising agreements relating to public property entered into with cities and local authorities. It also includes advertising in shopping centers, renting of street furniture, sale and rental of equipment, cleaning and maintenance. The Transport Advertising segment covers advertising in airports, subways, buses, tramways and trains. The Billboard segment covers advertising on private property and neon-type activity.
  • TickerDEC
  • ISINFR0000077919
  • ExchangeEuronext Paris
  • SectorMedia
  • CountryFrance

Analysts

Anis Zgaya ...
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/15/2019

...

Anis Zgaya ...
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/05/2019

...

Jerôme Bodin

JCDecaux : Solid organic growth at 5.4%, unexpected mix between the divisions

>Brisk momentum across all regions - JCDecaux yesterday evening reported organic revenue growth of 5.4%, in line with consensus expectations (+5.3%) and our estimates (+5.6%). The quarter was buoyed by the very good performance in the transport division (+14.5% organic growth vs +7.5%e), which offset the disappointing showing in street furniture (+0.8% organic vs +5.5%e) and billboards (-4.6% vs +1.5%e). The group forecasts organic growth over 4% in Q2 (consensus +4....

Jerôme Bodin

JCDecaux : Croissance organique solide à 5.4%, mix inattendu entre les branches

>Bonne dynamique sur l’ensemble des zones - JCDecaux a publié hier soir un CA en croissance organique de 5.4%, en ligne avec les attentes du consensus (+5.3%) et nos estimations (+5.6%). Ce trimestre a été soutenu par la très bonne performance de la division Transport (+14.5% org. vs +7.5%e) qui compense la performance décevante dans le Mobilier Urbain (+0.8% org vs +5.5%e) et l’Affichage (-4,6% vs +1.5%e). Le groupe s’attend à une croissance organique supérieure à 4...

Expert Corporate Governance Service (ECGS)

JC Decaux - AGM 16 May 2019

ITEM 11: Last year, the 2018 executives remuneration policy was not described in the Annual Report, but shareholders were able to acknowledge a press release published in the Governance section of the company’s website (/sites/default/files/assets/document/2018/04/jcdsa-remunerationautitredelexercice2018_0.pdf) which presented amounts and structure at stake. For 2019, neither the Annual report, nor such a press release comprise this information. This lack of information is not acceptable for a SBF120 company which belongs to the major European indexes. ITEMS 13 and 14: This lack of disclosure...

JCDecaux S.A. - December 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

JCDecaux S.A.: Update to credit analysis

Our credit view of JCDecaux, reflecting its leadership in outdoor advertising and its performance in 2018, especially the improvements in its organic revenue growth.

Moody's affirms JCDecaux's Baa2 ratings; outlook stable

Rating Action: Moody's affirms JCDecaux's Baa2 ratings; outlook stable. Global Credit Research- 10 Apr 2019. Madrid, April 10, 2019-- Moody's Investors Service has today affirmed the Baa2 issuer rating of JCDecaux S.A., the world's largest outdoor advertising company.

JCDecaux S.A.: Update to credit analysis

Our credit view of JCDecaux, reflecting its key credit drivers, recent performance trends and outlook for 2018.

JCDecaux S.A.: JCDecaux's Potential Acquisition of APN Outdoor Would Strengthen Competitive Profile

The proposed acquisition of APN Outdoor would improve business profile and positioning of JCDecaux in Australia

Jerôme Bodin

JCDecaux : Solid organic growth at 5.4%, unexpected mix between the divisions

>Brisk momentum across all regions - JCDecaux yesterday evening reported organic revenue growth of 5.4%, in line with consensus expectations (+5.3%) and our estimates (+5.6%). The quarter was buoyed by the very good performance in the transport division (+14.5% organic growth vs +7.5%e), which offset the disappointing showing in street furniture (+0.8% organic vs +5.5%e) and billboards (-4.6% vs +1.5%e). The group forecasts organic growth over 4% in Q2 (consensus +4....

Jerôme Bodin

JCDecaux : Croissance organique solide à 5.4%, mix inattendu entre les branches

>Bonne dynamique sur l’ensemble des zones - JCDecaux a publié hier soir un CA en croissance organique de 5.4%, en ligne avec les attentes du consensus (+5.3%) et nos estimations (+5.6%). Ce trimestre a été soutenu par la très bonne performance de la division Transport (+14.5% org. vs +7.5%e) qui compense la performance décevante dans le Mobilier Urbain (+0.8% org vs +5.5%e) et l’Affichage (-4,6% vs +1.5%e). Le groupe s’attend à une croissance organique supérieure à 4...

Jerôme Bodin

JCDecaux : Feedback from road show in Paris: confident message on the beginning of the year

>Buy recommendation reiterated with a target price unchanged at € 37 - We organised a road show with Jean-Charles Decaux, chairman of JCDecaux’s management board and the group’s co-chief executive officer. He delivered a confident message on the advertising trend at the beginning of the year, with positive growth on the group key geographic areas. The group should, notably, benefit from excellent momentum on airports in China (Canton in H1 then Beijing in as of Septe...

Jerôme Bodin

JCDecaux : Feedback de roadshow à Paris : message de confiance sur le début d'année

>Opinion Achat réitérée avec un objectif de cours inchangé de 37 € - Nous avons organisé un roadshow avec Jean-Charles Decaux, président du directoire de JCDecaux et co-directeur général. Ce dernier a véhiculé un message de confiance sur la tendance publicitaire de début d’année, avec une croissance positive observée sur les principales géographies. Le groupe va notamment tirer profit d’une excellente dynamique sur les aéroports en Chine (Canton au S1 puis Pékin à par...

Jerôme Bodin

JCDecaux : Brisk momentum in the short term and margin growth in 2019

>Buy recommendation reiterated - Yesterday, JCDecaux held its analysts’ meeting following the publication of its 2018 earnings. Growth was particularly dynamic in China and the US in Q1 and the margin should reflect growth after five years of decline. The group should thus benefit from the many contracts won since 2017 and the continued pace of digitisation. After an exceptional 2017 and gains or renewals of prized contracts in 2018, 2019 looks set to be less dense fr...

1 director bought

A director at Jc Decaux Sa bought 1,000 shares at 29.440EUR and the significance rating of the trade was 53/100. 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 ...

Anis Zgaya ...
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/15/2019

...

Anis Zgaya ...
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/05/2019

...

Alfred Glaser ...
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Delphine Brault
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Khaled Ben Amor
  • Louis Boujard
  • Olivier Lebrun
  • Philippe Ourpatian
  • Sylvain Goyon
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/03/2019

La probabilité d’occurrence des risques majeurs identifiés par le marché (guerre commerciale, hard landing chinois, resserrement monétaire) a effectivement reculé. Le début d’année très dynamique des indices reconnait cet état de fait avec des niveaux qui flirtent avec nos objectifs de fin d’année (Stoxx 600 revu à 379 points). Dans ce contexte, favoriser les secteurs qui combinent : rerating des PE inférieurs à celui du marché, résilience des prévisions de BPA 2019e et 2020e non refl...

Alfred Glaser ...
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Delphine Brault
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Khaled Ben Amor
  • Louis Boujard
  • Olivier Lebrun
  • Philippe Ourpatian
  • Sylvain Goyon
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/14/2019

The likelihood of the major risks identified by the market actually materialising (trade war, Chinese hard landing, monetary tightening) has receded. The dynamic gains by the indexes at the start of the year reflect this and they are flirting with our year-end targets (Stoxx 600 revised to 379 points). Against this backdrop, investors should favour sectors that combine: re1eratings in terms of PE lower than that for the market, and resilience in 2019e and 2020e EPS forecasts not reflec...

Alfred Glaser ...
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Manuel Martin
  • Michael Foundoukidis
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/08/2019

An objective examination of the growth drivers of indices (macroeconomic growth expectations, EPS momentum, monetary conditions and the cost of capital) leads us to believe that the momentum observed since the start of the year cannot be maintained in the short term. In short, the market (Stoxx 600) is ahead of its transition times and should enter a fluctuation band that we estimate at between 355 and 384 points. Consequently, the most rational attitude consists in a total or partial...

With a more favourable environment, JCDECAUX improves to Slightly Positive

JCDECAUX (FR), a company active in the Media Agencies industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date April 23, 2019, the closing price was EUR 28.90 and its potential was estimated at EUR 31.40.

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...

Carole Braudeau

Accor : Credit Feedback – Oddo BHF Forum 10 and 11 January

Our annual Forum in Lyon brought together 263 companies, including 41% of foreign companies, nearly 545 investors (33% foreigners), almost 6,500 one-to-one meetings. - This document gathers a brief feedback from the bond issuers and CB underlying companies in attendance. - - - - >Investment Grade - Accorhotels, Aéroports de Paris, Arkema, Buzzi Unicem, Carmila, Coface, Easyjet, Edenred, Fresenius Medical Care, Grand City Properties, Icade, JCDecaux, Klépierre, Lanxess, MT...

Carole Braudeau

Accor : Feedback Crédit Forum des 10 et 11 janvier 2019

Notre Forum annuel Oddo BHF 2019 vient de se dérouler à Lyon : il a réuni 263 sociétés, dont 41% étrangères, près de 545 investisseurs (33% étrangers), soit près de 6 500 one-to-one. - Ce document synthétise nos feed-back concernant les émetteurs obligataires présents et sous-jacents d’obligations convertibles. - - - >Investment Grade - Accorhotels, Aéroports de Paris, Arkema, Buzzi Unicem, Carmila, Coface, Easyjet, Edenred, Fresenius Medical Care, Grand City Properties,...

Expert Corporate Governance Service (ECGS)

JC Decaux - AGM 16 May 2019

ITEM 11: Last year, the 2018 executives remuneration policy was not described in the Annual Report, but shareholders were able to acknowledge a press release published in the Governance section of the company’s website (/sites/default/files/assets/document/2018/04/jcdsa-remunerationautitredelexercice2018_0.pdf) which presented amounts and structure at stake. For 2019, neither the Annual report, nor such a press release comprise this information. This lack of information is not acceptable for a SBF120 company which belongs to the major European indexes. ITEMS 13 and 14: This lack of disclosure...

Jehanne Leroy

JC Decaux - Assemblée générale des actionnaires du 16 mai 2019

Rémunérations : Contrairement à l'année dernière, la société n'a pas publié de communiqué séparé sur son site présentant les éléments de rémunérations pour 2019. Ainsi, aucune information sur les montants et structures en jeu n'est disponible, ce qui ne permet pas à l'actionnaire de voter en toute connaissance sur la politique de rémunération 2019. Cette pratique est très surprenante de la part d'une société du SBF 120 et appartenant aux plus grands indices européens. En raison de cette absence de communication, nous ne soutenons pas la résolution 11. Ce manque de communication se retrouve...

JC Decaux – Proxinvest Corporate Governance Rating ® : C

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...

Proxy Report - 17/05/2018

The company proposes to shareholders to approve the 2018 executives’ remuneration policy. Amounts to be granted (disclosed on a separate press release) are acceptable. However, the company does not disclose performance condition of the annual bonus or options. Regarding the latest, the company’s practice is far from French and European practice. For example, Mr Hofer received 9,394 stock options in February 6, 2017, valued at €21,826 by the company. At its meeting on December 6, 2017, the Board considered that performance targets were achieved and all options granted can be vested (less than ...

Proxy Report - 17/05/2018

La société met au vote la politique de rémunérations de ses dirigeants pour 2018. Si les montants sont bien communiqués (dans un communiqué à part disponible sur le site de la société en section gouvernance), elle ne communique en revanche pas les critères de performance du bonus annuel ou des stock-options. Concernant ces dernières, on notera que la pratique de la société est très étonnante et bien en deçà des pratiques françaises et européennes. Par exemple, M. Hofer s’est vu attribuer 9 394 options le 13 février 2017, valorisées par la société 21 826 €. Lors de son conseil du 6 décembre 2...

Valérie GASTALDY

Short term view - JC DECAUX : The background trend is clearly bullish.

The background trend is clearly bullish. The correction is gaining traction. It is too early to qualify this action as a bearish reversal. The trend would be invalidated below the support at €25.60.

Valérie GASTALDY

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

La tendance de fond est clairement orientée à la hausse. La correction en cours gagne en vigueur. Il est trop tôt pour parler de retournement baissier. La tendance serait invalidée sous le support à 25,60 €.

Valérie GASTALDY

Short term view - JC DECAUX : The trend is bearish.

The trend is bearish. The movement goes on. The next target is at €27.68, then €25.60. Passing €30.74 would question the continuation of the fall.

Valérie GASTALDY

Analyse court terme - JC DECAUX : La tendance est baissière.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 27,68 €, puis 25,60 €. Le franchissement de 30,74 € remettrait en cause la suite de la baisse.

Valérie GASTALDY

Medium term view - JC DECAUX : The movement goes on.

The background trend is clearly bearish. The movement goes on. The next target is at €25.58, then €23.02. Passing €38.79 would question the continuation of the fall.

ResearchPool Subscriptions

Get the most out of your insights

Get in touch