Publicis Groupe S.A.,

Publicis is holding company. Through its subsidiaries, Co. is engaged in marketing, communication and digital transformation. Co. designs a customized package of services to meet each client's particular needs through a holistic and global approach. In addition, Co. provides financial markets with information concerning the relative size of each of the different business sectors for the sole purpose of allowing sector comparisons. Co.'s principal activities comprise four main categories: Digital, Advertising, Specialized Agencies and Marketing Services (SAMS) and Media.
  • TickerPUB
  • ISINFR0000130577
  • ExchangeEuronext Paris
  • SectorMedia
  • CountryFrance

Analysts

Increased risk weighs on PUBLICIS GROUPE SA, penalising its rating down to Slightly Negative

The independent financial analyst theScreener just lowered the general evaluation of PUBLICIS GROUPE SA (FR), active in the Media Agencies industry. As regards its fundamental valuation, the title still shows 1 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date October 22, 2019, the closing price was EUR 38.62 and its target price was estimated at EUR 35.60.

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 17/10/2019 - Eurofins - FR

Eurofins (Achat) : Rapport ‘Shadowfall’ : les points abordés par le hedge fund semblent anciens ou faux Bank of America : RN de $19,3 mds (-2,1%) Informa : Emission de €550m à 8,5ans à ms+190bps Faurecia (Achat) - T3-19 : Ventes de €4,1mds (+4,3%, -3,7% à change constant) Bayer (Vente) : S’attend à une hausse du nombre de plaintes au sujet du Roundup Rexel (Conserver) - 9M-19 : CA de €10,2 mds (+3,6%, +2,1% en comparable) Publicis (Vente) : S&P dégrade la note d'un cran à BBB avec perspective stable

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 17/10/2019 - Eurofins - EN

Eurofins (O/P): Shadowfall Report: Adverse Conclusions Probably Based On Outdated And Inaccurate Information Bank Of America: 9M19 - Net Profit Of $19.3bn (-2.1%) Informa: New €550m Bond With A 8.5Y Maturity Issued At Ms+190bps Faurecia (O/P) - Q3-19: Sales Of €4.1bn (+4.3%, -3.7% At Constant Exchange Rates) Bayer (U/P): Expects An Increase In The Number Of Complaints About Roundup Rexel (M/P) - 9M-19: €10.2bn In Revenues (+3.6%, +2.1% On A Comparable Basis) Publicis (U/P): S&P Downgrades The Rating By One Notch To BBB With Stable Outlook

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 17/10/2019 - Eurofins - FR

Eurofins (Achat) : Rapport ‘Shadowfall’ : les points abordés par le hedge fund semblent anciens ou faux Bank of America : RN de $19,3 mds (-2,1%) Informa : Emission de €550m à 8,5ans à ms+190bps Faurecia (Achat) - T3-19 : Ventes de €4,1mds (+4,3%, -3,7% à change constant) Bayer (Vente) : S’attend à une hausse du nombre de plaintes au sujet du Roundup Rexel (Conserver) - 9M-19 : CA de €10,2 mds (+3,6%, +2,1% en comparable) Publicis (Vente) : S&P dégrade la note d'un cran à BBB avec perspective stable

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 17/10/2019 - Eurofins - EN

Eurofins (O/P): Shadowfall Report: Adverse Conclusions Probably Based On Outdated And Inaccurate Information Bank Of America: 9M19 - Net Profit Of $19.3bn (-2.1%) Informa: New €550m Bond With A 8.5Y Maturity Issued At Ms+190bps Faurecia (O/P) - Q3-19: Sales Of €4.1bn (+4.3%, -3.7% At Constant Exchange Rates) Bayer (U/P): Expects An Increase In The Number Of Complaints About Roundup Rexel (M/P) - 9M-19: €10.2bn In Revenues (+3.6%, +2.1% On A Comparable Basis) Publicis (U/P): S&P Downgrades The Rating By One Notch To BBB With Stable Outlook

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 11/10/2019 - Automotive Parts Suppliers - EN

TP ICAP - Europe - Morning CreditUpdate 11/10/2019 - Automotive Parts Suppliers - EN

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 11/10/2019 - Equipementiers automobiles - FR

Equipementiers automobiles : Un secteur avec une marge attendue en léger recul, nous ajustons nos recommandations CNP Assurances (Achat Tier 2) : Pourrait se développer dans l’assurance dommages et prévoyance Banques américaines : La Fed allège les exigences de capitaux des banques UCB (Achat) : Acquisition de Ra Pharmaceuticals pour €2 mds Publicis (Vente vs. Achat) - 9M-19 : Revenus de €6,9 mds (+3,3% à tcc, -1,4% en organique) Suedzucker (Vente) -  S1-19/20 : EBITDA de €214m (-17,4%) Salini Impregilo (Achat) : Contrat de €388m en Norvèg...

Jerôme Bodin

Publicis : More disappointment in Q3 2019 and a very challenging outlook

>Organic growth disappoints again - Publicis reported its Q3 2019 gross margin yesterday evening, whereas it was initially due to be released on 16 October. Q3 2019 and particularly the organic outlook for Q4 and 2020 are much weaker than expected. The one positive point is that the group confirmed its operating margin guidance of around 17% in 2020 whereas a portion of the consensus had expected a sharp drop. As much as the visibility is non-existent on growth, we ar...

Jerôme Bodin

Publicis : Nouvelle déception au T3 2019 et perspectives très difficiles

>Nouvelle déception sur la croissance organique - Publicis a publié hier soir sa marge brute T3 alors que la publication était initialement prévue le 16/10. Le T3 et surtout les perspectives organiques du T4 et pour 2020 sont nettement inférieures aux attentes. Le seul point positif concerne la confirmation d’une marge opérationnelle autour de 17% en 2020 alors qu’une partie du consensus tablait sur une forte baisse. Autant la visibilité est nulle sur la croissance, ...

Ng Adrian
Ng Adrian
Ng Adrian

Publicis Groupe S.A.

1 director sold

A director at Publicis Groupe Sa sold 1,127 shares at 46.440EUR and the significance rating of the trade was 54/100. 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 bo...

Emmanuel Matot ...
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Martial Descoutures
  • Oussema Denguir
  • Stephane Houri
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/11/2019

At the CMD on 13 November, the group will demonstrate that the price it paid for Medidata was worth it given the strategic rationale and profitable growth outlook. Medidata’s integration is set to have an accretive impact of +100bp on DSY’s structural organic growth profile and +10% on its 2020e EPS. On this basis, we have raised our target price to € 170. The recent pressure on valuation multiples offers a good entry point as the Q3 2019 results should be solid. - ...

Emmanuel Matot ...
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Martial Descoutures
  • Oussema Denguir
  • Stephane Houri
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 11/10/2019

Lors du CMD du 13 novembre, Dassault Systèmes démontrera que le prix payé pour Medidata se justifie par son intérêt stratégique et ses perspectives de croissance rentables. Son intégration devrait avoir un impact relutif de 100 pb sur la croissance org. structurelle de DSY et de 10% sur le BPA 2020e. Cela nous amène à relever notre OC à 170 €. La récente baisse des multiples offre un bon point d’entrée alors que les résultats T3 devraient être solides. - ...

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

...

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 – COMMENTAIRES DETAILLES 23/07/2019

Le CMD de juin nous a donné des objectifs 2022/23 ambitieux mais atteignables, nous permettant de prévoir 17% de croissance de l’EBIT par an. Le titre reste peu cher (VE/CA ajusté 0.8x et VE/EBIT ajusté 10.9x pour mars 2020e). Nous restons à l’Achat avec un nouvel OC de 43.5 € après versement du dividende de 5.50 € en juillet. - Cf. étude publiée ce jour. - ...

Increased risk weighs on PUBLICIS GROUPE SA, penalising its rating down to Slightly Negative

The independent financial analyst theScreener just lowered the general evaluation of PUBLICIS GROUPE SA (FR), active in the Media Agencies industry. As regards its fundamental valuation, the title still shows 1 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date October 22, 2019, the closing price was EUR 38.62 and its target price was estimated at EUR 35.60.

Ng Adrian
Ng Adrian
Ng Adrian
Ng Adrian
MarketLine Department

Dentsu, Inc. - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Dentsu, Inc. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Dentsu, Inc. since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlight...

Expert Corporate Governance Service (ECGS)

Publicis Groupe - AGM and EGM 29 May 2019

ITEM 10: The remunerations granted to Mr. Sadoun in 2018 are quite balanced and the amounts are reasonable. Despite certain breaches concerning the Company’s disclosure regarding the weightings of the EPS and TSR criteria for calculating the bonus, the bonus seems aligned with the Company’s performance. Furthermore, criteria for the exceptional performance share plan related to the strategic plan “Sprint to the Future” are quite demanding and, especially, there is no grant if performance is below the median (which was not the case for the previous plans). Accordingly, we recommend to approve. ...

Jehanne Leroy

Publicis Group - Assemblée générale des actionnaires du 29 mai 2019

GouvernanceLa société propose la nomination de 3 membres du conseil indépendants ; Cela porte le taux d’indépendance du conseil selon Proxinvest de 41,7% à 61,5% et nous accueillons favorablement ce changement. RémunérationsLes rémunérations 2018 de M. Sadoun sont plutôt équilibrées et les montants en jeu raisonnables. Par ailleurs, malgré certaines faiblesses en termes de communication, notamment la non communication des poids respectifs des critères de BPA et TSR dans le calcul du bonus, le bonus semble bien aligné avec les performances réalisées. De plus, les critères du plan de d’actions ...

Publicis Groupe – 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 - 30/05/2018

Following the 2017 general meeting, long-time Publicis boss Maurice Lévy stepped down as CEO and was replaced by Arthur Sadoun. Maurice Lévy is now being nominated for the position of Chairman of the Supervisory Board replacing, Elisabeth Badinter, the Company's shareholder, who will become Vice-Chairman. Following his nomination as Chairman, Maurice Lévy will be paid €2.8 million per year; an amount particularly excessive for a non-executive chairman. More generally, Publicis’ compensation policy is very generous, and the amounts granted to the Deputy CEOs are on par with CEO compensation a...

Proxy Report - 30/05/2018

En 2017, Arthur Sadoun est devenu Président du Directoire en succédant à Maurice Lévy, 75 ans, qui est aujourd’hui Président du Conseil de Surveillance en remplacement d'Elisabeth Badinter, principale actionnaire. Pour les fonctions de Président du Conseil, la Société propose à Maurice Lévy une rémunération fixe de 2,8 M€, ce qui est inhabituellement élevé pour un Président non exécutif et 9,5 fois plus élevé que la rémunération perçue par Elisabeth Badinter en 2016 en tant que Présidente du Conseil. De manière générale, les rémunérations des mandataires sociaux dirigeants de Publicis sont g...

Valérie GASTALDY

Short term view - PUBLICIS SA : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €50.28. The background trend would be questioned should prices rise above €56.26.

Valérie GASTALDY

Analyse court terme - PUBLICIS SA : Les prix baissent.

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 50,28 €. La tendance de fond serait remise en cause en cas de franchissement de 56,26 €.

Valérie GASTALDY

Short term view - PUBLICIS SA : 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 €50.28. The background trend would be questioned should prices rise above €56.26.

Valérie GASTALDY

Analyse court terme - PUBLICIS SA : 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 50,28 €. La tendance de fond serait remise en cause en cas de franchissement de 56,26 €.

Valérie GASTALDY

Analyse moyen terme - PUBLICIS SA : Le mouvement se poursuit.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 44,75 €, puis 39,00 €. Le franchissement de 66,31 € remettrait en cause la suite de la baisse.

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