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

Alfred Glaser ...
  • Christophe Chaput
  • Delphine Brault
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Matthias Desmarais
  • Michael Foundoukidis
  • Pierre Tegner
  • Steven Gould
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/23/2019

At the CMD in June the management announced ambitious but achievable targets for FY 2022-23, allowing us to forecast 17% EBIT growth per year. The share is inexpensive (adjusted EV/Sales of 0.8x and adjusted EV/EBIT of 10.9x for March 2020e). We maintain our Buy rating with a new target price of € 43.5 after last week’s payment of the dividend of € 5.50. - Cf. company report published today. - ...

Hana Maalej ...
  • Jean-François Granjon
  • Jerôme Bodin
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 07/23/2019

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Jerôme Bodin

ODDO : Q2 2019 preview: what to expect from the publications of Vivendi, Lagardère, JCDecaux and TF1?

>Recap of our various Q2 2019 previews - This morning, we are publishing a recap of the various Q2 2019 results previews that we have published in recent weeks. TF1, JCDecaux, Vivendi and Lagardère will successively publish their results between July 24 and 25. For further details, see the detailed previews of recent weeks. To this end, we maintain our Buy recommendation on TF1, Lagardère and JCDecaux and our Neutral recommendation on Vivendi. Vivendi (N...

Jerôme Bodin

ODDO : Preview T2 2019 : qu’attendre des publications Vivendi, Lagardère, JCDecaux et TF1 ?

>Rappel de nos différents previews pour le T2 2019 - Nous publions ce matin un rappel des différents previews du T2 que nous avons publiés ces dernières semaines. TF1, JCDecaux, Vivendi et Lagardère publieront successivement leurs résultats entre le 24 et le 25 juillet. Pour plus de détails, voir les previews détaillés ces dernières semaines. Dans cette perspective, nous réitérons notre opinion Achat sur TF1, Lagardère et JCDecaux et Neutre sur Vivendi. ...

Hana Maalej ...
  • Jean-François Granjon
  • Jerôme Bodin
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 23/07/2019

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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

ODDO : Q2 2019 preview: what to expect from the publications of Vivendi, Lagardère, JCDecaux and TF1?

>Recap of our various Q2 2019 previews - This morning, we are publishing a recap of the various Q2 2019 results previews that we have published in recent weeks. TF1, JCDecaux, Vivendi and Lagardère will successively publish their results between July 24 and 25. For further details, see the detailed previews of recent weeks. To this end, we maintain our Buy recommendation on TF1, Lagardère and JCDecaux and our Neutral recommendation on Vivendi. Vivendi (N...

Jerôme Bodin

ODDO : Preview T2 2019 : qu’attendre des publications Vivendi, Lagardère, JCDecaux et TF1 ?

>Rappel de nos différents previews pour le T2 2019 - Nous publions ce matin un rappel des différents previews du T2 que nous avons publiés ces dernières semaines. TF1, JCDecaux, Vivendi et Lagardère publieront successivement leurs résultats entre le 24 et le 25 juillet. Pour plus de détails, voir les previews détaillés ces dernières semaines. Dans cette perspective, nous réitérons notre opinion Achat sur TF1, Lagardère et JCDecaux et Neutre sur Vivendi. ...

Jerôme Bodin

JCDecaux : Feedback from the road show in Canada

>Buy recommendation reiterated - We organised a road show with JCDecaux in Canada. The group delivered a confident message on the advertising trend in Q2, with positive growth on the group's key geographic areas despite a small sequential slowdown in China. This general momentum will support growth in the operating margin in 2019, which should also be boosted by the integration of APN over 12 months and the numerous new contracts gained in 2017 and 2018. This event un...

Jerôme Bodin

JCDecaux : Feedback de roadshow au Canada

>Opinion Achat réitérée - Nous avons organisé un roadshow avec JCDecaux au Canada. Ce dernier a véhiculé un message de confiance sur la tendance publicitaire du T2, avec une croissance positive observée sur les principales géographies du groupe malgré un petit ralentissement séquentiel en Chine. Cette dynamique générale va soutenir une progression de la marge opérationnelle en 2019, bénéficiant également de l’intégration d’APN sur 12 mois et des nombreux gains de cont...

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....

3 directors bought

Three Directors at JCDecaux Sa bought 36,218 shares at between 24.977EUR and 24.992EUR. The significance rating of the trade was 68/100. 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 rule...

Alfred Glaser ...
  • Christophe Chaput
  • Delphine Brault
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Matthias Desmarais
  • Michael Foundoukidis
  • Pierre Tegner
  • Steven Gould
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/23/2019

At the CMD in June the management announced ambitious but achievable targets for FY 2022-23, allowing us to forecast 17% EBIT growth per year. The share is inexpensive (adjusted EV/Sales of 0.8x and adjusted EV/EBIT of 10.9x for March 2020e). We maintain our Buy rating with a new target price of € 43.5 after last week’s payment of the dividend of € 5.50. - Cf. company report published today. - ...

Hana Maalej ...
  • Jean-François Granjon
  • Jerôme Bodin
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 07/23/2019

...

Hana Maalej ...
  • Jean-François Granjon
  • Jerôme Bodin
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 23/07/2019

...

Bruno Cavalier ...
  • Jerôme Bodin
  • Louis Boujard
  • Philippe Ourpatian
  • Stephane Houri
  • Veysel Taze

STMicroelectronics N.V. : ODDO BHF SThe 2019 Extel* survey has just named ODDO BHF “number 1 broker on French equities” for the fourth consecutive year. It has also ranked ODDO BHF “number 5 broker on German equities”, five places higher than last year. T

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Bruno Cavalier ...
  • Jerôme Bodin
  • Louis Boujard
  • Philippe Ourpatian
  • Stephane Houri
  • Veysel Taze

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 03/06/2019 L’enquête EXTEL* 2019 vient de désigner ODDO BHF « 1er broker sur les actions françaises » pour la 4ème année consécutive. Elle classe aussi ODDO BHF « 5ème broker sur les actions allema

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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.

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