Edenred designs and delivers services to clients, companies or public sectors, enabling them to offer beneficiaries additional purpose-directed purchasing power, such as the Ticket Restaurant® meal voucher, and provides prepaid corporate services. Co.'s product offering ensures that allocated funds are used as intended, allowing its clients to manage: Employee benefits (Ticket Restaurant®, Ticket Alimentacion®, Ticket CESU, Childcare Vouchers®, etc.); Expense management process (Ticket Car®, Ticket Clean way®, Repom®, etc.); and Incentive and rewards programs (Ticket Compliments®, Ticket Kadeos®, etc.). Co. also supports public institutions in managing their social benefits programs.
  • TickerEDEN
  • ISINFR0010908533
  • ExchangeEuronext Paris
  • SectorSupport Services
  • CountryFrance

Analysts

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Bruno Cavalier
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender
  • Steven Gould
  • Sylvain Goyon
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/18/2019

With unanswered questions accumulating every day on the theme of Brexit, one thing seems certain: the market, without having fallen into blissful optimism, is far from having priced in a hard Brexit. Recent history (the 2016 referendum) shows that the immediate shock in the event of an unanticipated disorderly exit would be around 11% on the eurozone indices. The European political discount indicates a relative, in euros, drop of 7% vs the US. The impact on the markets would not be un...

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Bruno Cavalier
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender
  • Steven Gould
  • Sylvain Goyon
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 18/02/2019

Si les questions sans réponse s’accumulent chaque jour sur la thématique du Brexit, une chose semble certaine : le marché, sans avoir versé dans l’optimisme béat, est loin d’avoir pricé un « hard Brexit ». Par référence historique (référendum 2016), le choc instantané dans le cas d’une sortie désordonnée non anticipée, est de l’ordre de 11 % sur les indices de la zone euro. La décote politique européenne milite pour un décrochage relatif en euro de 7% vs Etats-Unis. Tous les marchés n...

Johanna Jourdain ...
  • Matthias Desmarais

Edenred : Preview FY18 (22/02): Solid results expected for 2018, the tone should be confident for 2019

>Solid results expected for 2018 - Edenred will publish its 2018 results on 22/02 before trading. We expect them to be solid, buoyed notably by Europe and the gradual recovery of Brazil in employee benefits. 2018 results are expected to be significantly above the group’s guidance with organic growth in operating revenues of 12.1% (consensus 12.3%, guidance >7%), organic growth in operating EBIT of 20.4% (consensus 19.3%, guidance >9%) and EBIT of € 461m, at the upper ...

Johanna Jourdain ...
  • Matthias Desmarais

Edenred : Preview 2018 (22/02) : de solides résultats attendus pour 2018, le ton devrait être confiant pour 2019

>De solides résultats attendus pour 2018 - Edenred publiera ses résultats annuels 2018 le 22/02 avant Bourse, que nous attendons solides, soutenus notamment par l’Europe et le rebond progressif du Brésil en Employee Benefits. Les résultats 2018 sont attendus significativement au-dessus de la guidance du groupe avec une croissance organique du CA opérationnel de 12.1% (consensus à 12.3%, guidance >7%), une croissance organique de l’EBIT opérationnel de 20.4% (consensus...

Edenred – Proxinvest Corporate Governance Rating ® : B

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...

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Bruno Cavalier
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender
  • Steven Gould
  • Sylvain Goyon
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/18/2019

With unanswered questions accumulating every day on the theme of Brexit, one thing seems certain: the market, without having fallen into blissful optimism, is far from having priced in a hard Brexit. Recent history (the 2016 referendum) shows that the immediate shock in the event of an unanticipated disorderly exit would be around 11% on the eurozone indices. The European political discount indicates a relative, in euros, drop of 7% vs the US. The impact on the markets would not be un...

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Bruno Cavalier
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender
  • Steven Gould
  • Sylvain Goyon
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 18/02/2019

Si les questions sans réponse s’accumulent chaque jour sur la thématique du Brexit, une chose semble certaine : le marché, sans avoir versé dans l’optimisme béat, est loin d’avoir pricé un « hard Brexit ». Par référence historique (référendum 2016), le choc instantané dans le cas d’une sortie désordonnée non anticipée, est de l’ordre de 11 % sur les indices de la zone euro. La décote politique européenne milite pour un décrochage relatif en euro de 7% vs Etats-Unis. Tous les marchés n...

Johanna Jourdain ...
  • Matthias Desmarais

Edenred : Preview FY18 (22/02): Solid results expected for 2018, the tone should be confident for 2019

>Solid results expected for 2018 - Edenred will publish its 2018 results on 22/02 before trading. We expect them to be solid, buoyed notably by Europe and the gradual recovery of Brazil in employee benefits. 2018 results are expected to be significantly above the group’s guidance with organic growth in operating revenues of 12.1% (consensus 12.3%, guidance >7%), organic growth in operating EBIT of 20.4% (consensus 19.3%, guidance >9%) and EBIT of € 461m, at the upper ...

Johanna Jourdain ...
  • Matthias Desmarais

Edenred : Preview 2018 (22/02) : de solides résultats attendus pour 2018, le ton devrait être confiant pour 2019

>De solides résultats attendus pour 2018 - Edenred publiera ses résultats annuels 2018 le 22/02 avant Bourse, que nous attendons solides, soutenus notamment par l’Europe et le rebond progressif du Brésil en Employee Benefits. Les résultats 2018 sont attendus significativement au-dessus de la guidance du groupe avec une croissance organique du CA opérationnel de 12.1% (consensus à 12.3%, guidance >7%), une croissance organique de l’EBIT opérationnel de 20.4% (consensus...

Alexandre Plaud ...
  • Jean-Baptiste Bouchet

EDENRED - After Fleet & Mobility Solutions, Edenred steps up the pace in B2B payments

1 director sold

A director at Edenred sold 10,571 shares at 33.251EUR and the significance rating of the trade was 78/100. 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 member...

Ahmed Ben Salem ...
  • Jean-Baptiste Rouphael
  • Jerôme Bodin
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Pierre Corby
  • Stephane Houri
  • Sven Edelfelt
  • Team Pharma
  • Valentin Pernet
  • Veysel Taze
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 12/14/2018

...

Ahmed Ben Salem ...
  • Jean-Baptiste Rouphael
  • Jerôme Bodin
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Pierre Corby
  • Stephane Houri
  • Sven Edelfelt
  • Team Pharma
  • Valentin Pernet
  • Veysel Taze
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/12/2018

...

Alex Koagne ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Christophe Chaput
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Hela Zarrouk
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Léopold Authié
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/09/2018

...

Alex Koagne ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Bruno Cavalier
  • Christophe Chaput
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Hela Zarrouk
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Léopold Authié
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Rémi Adam
  • Roland Pfaender
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 09/11/2018

...

Alexandre Iatrides ...
  • Alfred Glaser
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Nicolas David
  • Philippe Ourpatian
  • Roland Pfaender
  • Stephane Houri
  • Veysel Taze

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/25/2018

With 2018e FCF (£ 450m +/- £ 100m before restructuring costs) expected to reflect a significant upturn from the low point of 2016 (£ 100m), the group’s medium-term target FCF of £ 1.8bn appears realistic. On this basis, we value the group at 1,120p per share and we are upgrading our recommendation from Neutral to Buy. Cf report published yesterday night. - ...

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

The independent financial analyst theScreener just lowered the general evaluation of EDENRED (FR), active in the Business Support Services industry. As regards its fundamental valuation, the title now shows 1 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 November 27, 2018, the closing price was EUR 32.27 and its target price was estimated at EUR 28.70.

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,...

Edenred – Proxinvest Corporate Governance Rating ® : B

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...

Jehanne Leroy

Proxy Report - 03/05/2018

ITEM 6: the renewal of the Chairman and CEO’s mandate is proposed. Proxinvest supports this resolution taking into account counter powers implemented and the group’s market and environmental performances. However, we note that the double voting right has been maintained (even if only 2% of shares have double voting rights), creating a rights distortion between shareholders (precisely between registered shareholders who can have double voting rights and holder of bearer shares who cannot). ITEM 10: the 2018 Chairman and CEO remuneration policy is not supported considering structure and amounts...

Jehanne Leroy

Proxy Report - 03/05/2018

Le renouvellement du mandat du Président Directeur Général, M. Dumazy, est proposé en résolution 6. Proxinvest soutient ce renouvellement au regard des divers contre-pouvoirs mis en place et des performances du groupe tant boursières qu'environnementales depuis que M. Dumazy est Président Directeur Général. On notera toutefois que la société a maintenu le droit de vote double (et ce alors même que seulement 2% des actions en bénéficient), créant ainsi une différence de traitement entre tous les actionnaires (notamment entre les actionnaires au nominatif, qui peuvent en bénéficier, et ceux au p...

Etude de l'AG du 04/05/2017

Non-tax deductible expenses amounted to € 161,483 (€169,134 in the previous financial year) i.e. 0.9% of consolidated net income. These amounts exceed our limit of € 100,000 and the Company has not provided a justification for them (resolution 1).The remuneration of Chairman and Chief Executive Officer Bertrand Dumazy for 2016 is excessive (resolution 5), as well as his proposed remuneration for the financial year 2017 (resolution 6).

Etude de l'AG du 04/05/2017

Proxinvest regrette que la société ait encore une fois associé l'approbation des charges non déductibles à l'approbation générale des comptes. Selon la politique de vote de Proxinvest, sauf lors de montants non significatifs inférieurs à 100 000 €, les dépenses non déductibles non détaillées par nature et nombre de bénéficiaires, non quantifiées, ou mal justifiées feront l’objet d’une opposition. Or pour l'exercice 2016, les dépenses non déductibles ont représenté 161 483 € (169 134 lors de l'exercice précédent) sans que la société n'apporte de justification (résolution 1). La rémunération du ...

Valérie GASTALDY

Medium term view - EDENRED : 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 €25.21.

Valérie GASTALDY

Analyse moyen terme - EDENRED : 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 25,21 €.

Valérie GASTALDY

Analyse moyen terme - EDENRED : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. Les cours progressent toujours. Les objectifs suivants sont à 35,20 € et 37,55 €. La tendance serait invalidée sous le support à 25,21 €.

Valérie GASTALDY

Medium term view - EDENRED : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress. The following targets are at €35.20 and €37.55. The trend would be invalidated below the support at €25.21.

Valérie GASTALDY

Medium term view - EDENRED : Prices are still making progress.

The background trend is clearly bullish. Prices are still making progress. The following targets are at €35.20 and €37.55. The trend would be invalidated below the support at €25.21.

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