Compagnie Plastique Omnium

Compagnie Plastic Omnium is a manufacturing and services company which partners with car manufacturers and local communities, through its two core businesses which are Automotive Equipment and Environment. Co.'s activities can be divided into two divisions: the Automotive division and the Environment division. The Automotive division designs, manufactures and sells vehicle body parts (exterior parts and modules) and plastic fuel systems. The Environment division provides products and services for local authorities, including waste pre-collection and management equipment and services, and road and highway signage.
  • TickerPOM
  • ISINFR0000124570
  • ExchangeEuronext Paris
  • SectorAutomobiles & Parts
  • CountryFrance

Analysts

Anne-Barbara Nicco

Plastic Omnium : A reassuring issuer in the current context but an M&A risk

The POMFP 2024 notes offer a yield of 2.3%, corresponding to the yield of a 5-year issue rated between 'BB+' (1.82%) and 'BB' (2.54%), according to our yield matrix, which we think is over done in relation to the company's credit quality and is due to the fact that it is not rated and is part of the Auto sector. By comparison, Valeo 2024 (Baa2 negative, BBB negative) offers a yield of 1.3% and Faurecia 2025 (Ba1/BB+), a yield of 2.9%. Despite this premium and the group's reassuri...

Anne-Barbara Nicco

Plastic Omnium : Un émetteur rassurant dans le contexte actuel mais un risque de M&A

L’obligation POMFP 2024 offre un rendement de 2.3%, correspondant à celui d’une émission sur 5 ans notée entre BB+ (1.82%) et BB (2.54%), selon notre matrice de rendements, un niveau qui nous semble excessif comparé à la qualité de crédit de la société et se justifie par son absence de notation et son secteur automobile. En comparaison, Valeo 2024 (Baa2 négatif, BBB négatif) offre ainsi un rendement de 1.3% et Faurecia 2025 (Ba1/BB+), de 2.9%. En dépit de cette prime et du positi...

1 director bought

A director at Plastic Omnium(Cie) bought 76,655 shares at 25.886EUR and the significance rating of the trade was 70/100. 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 o...

Plastic Omnium - Assemblée générale des actionnaires du 25 avril 2019

Proxinvest publiera une étude analysant les résolutions proposées lors de la tenue de l’assemblée générale des actionnaires. Vous pouvez l'acquérir dès à présent et elle vous sera adressée par ResearchPool une fois publiée.

Pierre Vaurice

PLASTIC OMNIUM - Caution remains (=)

PLASTIC OMNIUM - Caution remains (=)

Anne-Barbara Nicco, CFA

Plastic Omnium : Issuance Focus

Plastic Omnium is preparing a new offering of € 500m notes with a seven-year maturity (2025). We estimate the group's rating at BBB/stable. In the secondary market, the Plastic Omnium 2020 issue trades on a spread of ASW+29bp and Plastic Omnium 2024, ASW+125bp. After spread tightening of 10bp between its issuance in June 2017 and the end of 2017, the Plastic Omnium 2024 paper got off to a difficult start in 2018, seeing its spread widen by 40bp since the beginning of the year (vs. +17bp for the JPM BBB 5-7 Y index) including +10bp after the announcement of the acquisition of 33.33% of HBPO in ...

Anne-Barbara Nicco, CFA

Plastic Omnium : Focus Emission

Plastic Omnium s’apprête à émettre un nouvel emprunt obligataire de 500 m EUR sur 7 ans (2025). Nous estimons le rating du groupe à BBB/stable. Sur le marché secondaire, le titre Plastic Omnium 2020 traite à asw+29 bp et le titre Plastic Omnium 2024, à asw+125 bp. Après un resserrement de spread de 10 bp entre son émission en juin 2017 et la fin de l’année 2017, Plastic Omnium 2024 a connu un démarrage plus difficile en 2018, voyant son spread s’élargir de 40 bp depuis le début de l’année (vs. +17 bp pour l’indice JPM BBB 5-7 ans) dont +10 bp après l’annonce de l’acquisition de 33.33% de HBPO ...

Anne-Barbara Nicco, CFA

Plastic Omnium : Focus Emission

Plastic Omnium is preparing to issue a new € 500m bond with a seven-year maturity (2024). We estimate the group’s rating at BBB with a positive outlook. On the secondary market, the 2020 Plastic Omnium paper trades at ASW+52bp. Comparable unrated bonds are: 1/ the 2024 Lagardère bond issued at ASW+135bp two days ago (and trading at ASW+129bp today). However, given the spread on the 2019 Lagardère note (ASW+75bp, i.e. 23bp more than the 2020 Plastic Omnium bond), we believe that the new Plastic Omnium bond is likely to be issued at a tighter spread than the 2024 Lagardère bond.2/the 2024 Groupe...

Anne-Barbara Nicco, CFA

Plastic Omnium : Focus Emission

Plastic Omnium s’apprête à émettre un nouvel emprunt obligataire de 500 m EUR sur 7 ans (2024). Nous estimons le rating du groupe à BBB/outlook positif. Sur le marché secondaire, le titre Plastic Omnium 2020 traite sur la base d’un spread d’asw+52 bp. Les obligations non notées comparables sont : 1/ Lagardère 2024 qui a été émise à asw+135 bp il y a deux jours (et traite à asw+129 bp aujourd’hui). Toutefois, compte tenu du spread de Lagardère 2019 (asw+75 bp soit 23 bp de plus que Plastic Omnium 2020), nous estimons que la nouvelle obligation Plastic Omnium devrait sortir sur un spread plus se...

Pierre Vaurice

PLASTIC OMNIUM - Caution remains (=)

PLASTIC OMNIUM - Caution remains (=)

Pierre Vaurice

PLASTIC OMNIUM - La prudence demeure (=)

PLASTIC OMNIUM - La prudence demeure (=)

Michael Foundoukidis

ODDO : Brexit: auto parts makers in the firing line, tyre makers less affected

>Auto parts manufacturers amongst the hardest hit - As with carmakers, auto suppliers are likely to be in the front line in the event of a no-deal Brexit given the decline in automotive demand that we expect in this scenario (-15%e over 2 years) but also the significant flows to and from continental Europe, in terms of vehicles but most importantly components. The UK is, for example, the second-largest auto export market for Germany (~15%e of its export volumes),...

Michael Foundoukidis

ODDO : Brexit : équipementiers en première ligne, pneumaticiens moins touchés

>Les équipementiers parmi les plus touchés - A l’image des constructeurs automobiles, les équipementiers seraient également en première en ligne en cas de Brexit sans accord compte tenu du recul de la demande automobile que nous attendons dans ce scénario (-15%e sur 2 ans) mais aussi de l’importance des flux vers et depuis l’Europe continentale, à la fois de véhicules mais aussi et surtout de composants. Rappelons que le Royaume-Uni est, par exemple, le deuxième ...

Alexandre Iatrides ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Bruno Cavalier
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Olfa Taamallah
  • Olivier Lebrun
  • Roland Pfaender
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/15/2019

...

1 director bought

A director at Plastic Omnium(Cie) bought 76,655 shares at 25.886EUR and the significance rating of the trade was 70/100. 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 o...

Bruno Cavalier ...
  • Harald Eggeling
  • Jean Sassus
  • Johanna Jourdain
  • Matthias Desmarais
  • Michael Foundoukidis
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/11/2019

While the disappointments on Q4 2018 were largely due to the market environment, these results nonetheless raise more long-term questions on inflows, equity activities and litigation. Forecasts and target price lowered. Neutral recommendation reiterated. - ...

Alain William ...
  • Fatma Agnès Hamdani
  • Harald Eggeling
  • Laurence Hofmann
  • Michael Foundoukidis

ODDO BHF Small & MIDCAP MORNING NEWS - 02/11/2019

...

Alain William ...
  • Fatma Agnès Hamdani
  • Harald Eggeling
  • Laurence Hofmann
  • Michael Foundoukidis

ODDO BHF Small & MIDCAP MORNING NEWS - 11/02/2019

...

Bruno Cavalier ...
  • Harald Eggeling
  • Jean Sassus
  • Johanna Jourdain
  • Matthias Desmarais
  • Michael Foundoukidis
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 11/02/2019

Alors que les déceptions sur T4 2018 sont largement conjoncturelles, ces résultats posent des questions à plus long terme sur la collecte, les métiers Equity et les litiges. Prévisions et OC abaissés. Opinion Neutre réitérée. - ...

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

...

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

The independent financial analyst theScreener just lowered the general evaluation of PLASTIC OMNIUM (FR), active in the Auto Parts industry. As regards its fundamental valuation, the title now shows 2 out of 4 stars while market behaviour can be considered 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 February 8, 2019, the closing price was EUR 21.20 and its target price was estimated at EUR 18.74.

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...

Anne-Barbara Nicco

Plastic Omnium : A reassuring issuer in the current context but an M&A risk

The POMFP 2024 notes offer a yield of 2.3%, corresponding to the yield of a 5-year issue rated between 'BB+' (1.82%) and 'BB' (2.54%), according to our yield matrix, which we think is over done in relation to the company's credit quality and is due to the fact that it is not rated and is part of the Auto sector. By comparison, Valeo 2024 (Baa2 negative, BBB negative) offers a yield of 1.3% and Faurecia 2025 (Ba1/BB+), a yield of 2.9%. Despite this premium and the group's reassuri...

Anne-Barbara Nicco

Plastic Omnium : Un émetteur rassurant dans le contexte actuel mais un risque de M&A

L’obligation POMFP 2024 offre un rendement de 2.3%, correspondant à celui d’une émission sur 5 ans notée entre BB+ (1.82%) et BB (2.54%), selon notre matrice de rendements, un niveau qui nous semble excessif comparé à la qualité de crédit de la société et se justifie par son absence de notation et son secteur automobile. En comparaison, Valeo 2024 (Baa2 négatif, BBB négatif) offre ainsi un rendement de 1.3% et Faurecia 2025 (Ba1/BB+), de 2.9%. En dépit de cette prime et du positi...

Plastic Omnium - Assemblée générale des actionnaires du 25 avril 2019

Proxinvest publiera une étude analysant les résolutions proposées lors de la tenue de l’assemblée générale des actionnaires. Vous pouvez l'acquérir dès à présent et elle vous sera adressée par ResearchPool une fois publiée.

Jehanne Leroy

Proxy Report - 26/04/2018

Proxinvest attire l'attention des actionnaires sur l'absence de montants dans politique de rémunération au titre de l'exercice 2018, rendant ainsi impossible une évaluation claire de la rémunération. Concernant la rémunération, au titre de l'exercice 2017, des dirigeants mandataires sociaux, Proxinvest souligne le fait que la structure de cette rémunération ne respecte pas ses recommandations, ni les pratiques de la place. Ainsi, la rémunération du Président Directeur Général est contestable pour sa transparence, pour sa structure ainsi que pour les montants engagés. Par ailleurs, la société e...

Matthieu DRIOL

Short term view - PLASTIC OMNIUM : The background trend is clearly bearish.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €22.07. The background trend would be questioned should prices rise above €35.12.

Matthieu DRIOL

Analyse court terme - PLASTIC OMNIUM : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 22,07 €. La tendance de fond serait remise en cause en cas de franchissement de 35,12 €.

Matthieu DRIOL

Analyse court terme - PLASTIC OMNIUM : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 22,07 €, puis 20,71 €. Le franchissement de 35,12 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Short term view - PLASTIC OMNIUM : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €22.07, then €20.71. Passing €35.12 would question the continuation of the fall.

Matthieu DRIOL

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