Randstad NV

Randstad is a global staffing and recruitment company, providing various solutions in the human resources (HR) services space. Co.'s services include regular temporary staffing and permanent placement of candidates. In addition, Co. provides several other HR solutions, such as Recruitment Process Outsourcing (RPO), Managed Services Programs (MSP), payroll services, and outplacement. Co. provides four distinct service concepts: Staffing, Inhouse Services, Professionals and HR Solutions.
  • TickerRAND
  • ISINNL0000379121
  • ExchangeEuronext Amsterdam
  • SectorSupport Services
  • CountryNetherlands

Analysts

ING
Research Department

Benelux Morning Notes

ASML: Strength in Logic offsets Memory weakness. Basic-Fit: 2Q/1H19 results preview - strong yield per member expected. Randstad: 2Q19 preview - consensus 2H revenue growth estimates seem ambitious. TomTom: Operational strength blurred by accounting changes

Charles Lepetitpas ...
  • Christophe Chaput
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • Hela Zarrouk
  • Jeremy Garnier
  • Jerôme Bodin
  • Nicolas David
  • Nicolas Thorez
  • Olivier Lebrun

ODDO BHF Small & MIDCAP MORNING NEWS - 07/11/2019

We have probably reached the bottom of the cycle in the semiconductors sector. The slope of the recovery in H2 remains uncertain. We prefer stocks with their own specific drivers for H2 like ASML, STMicroelectronics and ams. We are downgrading our recommendation for Aixtron to Neutral (vs Buy). - ...

Christophe Chaput ...
  • Emira Sagaama
  • Jerôme Bodin
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/11/2019

We have probably reached the bottom of the cycle in the semiconductors sector. The slope of the recovery in H2 remains uncertain. We prefer stocks with their own specific drivers for H2 like ASML, STMicroelectronics and ams. We are downgrading our recommendation for Aixtron to Neutral (vs Buy). - ...

Christophe Chaput ...
  • Emira Sagaama
  • Jerôme Bodin
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 11/07/2019

Nous sommes probablement arrivés au point bas du cycle des semi-conducteurs. La pente de la reprise au S2 reste incertaine. Nous jouons les valeurs ayant des moteurs propres comme ASML, STM ou ams. Nous dégradons Aixtron à Neutre (vs Achat). - ...

Charles Lepetitpas ...
  • Christophe Chaput
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • Hela Zarrouk
  • Jeremy Garnier
  • Jerôme Bodin
  • Nicolas David
  • Nicolas Thorez
  • Olivier Lebrun

ODDO BHF Small & MIDCAP MORNING NEWS - 11/07/2019

Nous sommes probablement arrivés au point bas du cycle des semi-conducteurs. La pente de la reprise au S2 reste incertaine. Nous jouons les valeurs ayant des moteurs propres comme ASML, STM ou ams. Nous dégradons Aixtron à Neutre (vs Achat). - ...

ING
Research Department

Benelux Morning Notes

ASML: Strength in Logic offsets Memory weakness. Basic-Fit: 2Q/1H19 results preview - strong yield per member expected. Randstad: 2Q19 preview - consensus 2H revenue growth estimates seem ambitious. TomTom: Operational strength blurred by accounting changes

Emira Sagaama

ODDO : Caution on the growth outlook in the short term We downgrade Adecco to Reduce vs Neutral

>Uninspiring trends in Europe and North America - After nearly stabilising in Europe in Q1, and showing growth in line with the quarter in March, temporary employment markets in Europe are slowing. Trends in the main activity indicators (temporary employment market in terms of the number of hours worked or employee numbers, trend in manufacturing PMIs, see page 2) as well as our recent discussions with Adecco and Randstad show that the decline has gathered pace in Ger...

Emira Sagaama

ODDO : Prudence sur les perspectives de croissance à court terme Nous dégradons Adecco à Alléger vs Neutre

>Des tendances peu encourageantes en Europe et en Amérique du Nord - Après une quasi stabilisation en Europe au T1, et un rythme dans la lignée du trimestre en mars, les marchés de l’intérim en Europe ralentissent. L’évolution des principaux indicateurs d’activité (marché de l’intérim en nombre d’heures travaillées ou en effectif, évolution des PMI manufacturiers, voir en page 2) ainsi que nos échanges récents avec Adecco et Randstad indiquent qu’aussi bien l’Allemagn...

ING
Marc Zwartsenburg, CEFA

Randstad/Pre-earnings call; preview 2Q19; softening trend expected/HOLD

Event: Pre-earnings call/preview 2Q19. Outcome: Neutral. Conclusion: We just had our pre-earnings call with Randstad to discuss the latest market data. We flagged in previous reports the softening of some key end-markets like NL and Belgium while France and the US remain stable. However, in general, the Benelux is a large region for Randstad and highly profitable while also other EU markets seem to soften a bit. Hence we conclude that 2Q is likely to see a weakening in the revenue trend and for 2H it remains to be seen if the easier comps will provide some comfort. It seems that the risk for n...

ING
Research Department

Benelux Morning Notes

AMG: Feedback from Capital Markets Day. Eurocommercial Prperties: €20m / 1.7% share buyback. Royal Dutch Shell A: Divestment programme continues. Staffing sector: Dutch figs; period 5: vol -10%, rev -6% (was -6%, -3%) on tough comps. Staffing sector: French data - April trend and May outlook a touch better underlying. TKH Group: Raising group targets

1 director sold after exercising options/sold

A director at Randstad Holding N.V. sold after exercising options/sold 8,100 shares at 46.460EUR and the significance rating of the trade was 50/100. 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...

Charles Lepetitpas ...
  • Christophe Chaput
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • Hela Zarrouk
  • Jeremy Garnier
  • Jerôme Bodin
  • Nicolas David
  • Nicolas Thorez
  • Olivier Lebrun

ODDO BHF Small & MIDCAP MORNING NEWS - 07/11/2019

We have probably reached the bottom of the cycle in the semiconductors sector. The slope of the recovery in H2 remains uncertain. We prefer stocks with their own specific drivers for H2 like ASML, STMicroelectronics and ams. We are downgrading our recommendation for Aixtron to Neutral (vs Buy). - ...

Christophe Chaput ...
  • Emira Sagaama
  • Jerôme Bodin
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/11/2019

We have probably reached the bottom of the cycle in the semiconductors sector. The slope of the recovery in H2 remains uncertain. We prefer stocks with their own specific drivers for H2 like ASML, STMicroelectronics and ams. We are downgrading our recommendation for Aixtron to Neutral (vs Buy). - ...

Christophe Chaput ...
  • Emira Sagaama
  • Jerôme Bodin
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 11/07/2019

Nous sommes probablement arrivés au point bas du cycle des semi-conducteurs. La pente de la reprise au S2 reste incertaine. Nous jouons les valeurs ayant des moteurs propres comme ASML, STM ou ams. Nous dégradons Aixtron à Neutre (vs Achat). - ...

Charles Lepetitpas ...
  • Christophe Chaput
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • Hela Zarrouk
  • Jeremy Garnier
  • Jerôme Bodin
  • Nicolas David
  • Nicolas Thorez
  • Olivier Lebrun

ODDO BHF Small & MIDCAP MORNING NEWS - 11/07/2019

Nous sommes probablement arrivés au point bas du cycle des semi-conducteurs. La pente de la reprise au S2 reste incertaine. Nous jouons les valeurs ayant des moteurs propres comme ASML, STM ou ams. Nous dégradons Aixtron à Neutre (vs Achat). - ...

Ahmed Ben Salem ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Sassus
  • Laurence Hofmann
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/25/2019

...

For RANDSTAD NV, the environment deterioration entails a downgrade to Neutral

RANDSTAD NV (NL), a company active in the Business Training & Employment Agencies industry, now shows a lower overall rating. The independent financial analyst theScreener just confirmed the fundamental rating of 4 stars out of 4, as well as the stock market behaviour of the title as moderately risky. However, environmental deterioration penalises the general evaluation, which is downgraded to Neutral. As of the analysis date May 17, 2019, the closing price was EUR 47.80 and its expected value was estimated at EUR 48.51.

Ibrahim Firdaus

Randstad Holding NV

Ibrahim Firdaus

Randstad Holding NV

Ibrahim Firdaus

Randstad Holding NV

Ibrahim Firdaus

Randstad Holding NV

MarketLine Department

Robert Half International Inc. - Strategy, SWOT and Corporate Finance Report

Robert Half International Inc. - Strategy, SWOT and Corporate Finance Report Summary Robert Half International Inc. - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Robert Half International Inc. (RHI or "the company") is a provider of specialized staffing, risk consulting and internal audit services. The company offers temporary and full-time staffing services ...

MarketLine Department

Adecco Group AG - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Adecco Group AG 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 Adecco Group AG 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 Hi...

Expert Corporate Governance Service (ECGS)

Randstad, March 26 2019

In general, Randstad is in compliance with the Dutch regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 5b, it is proposed to re-appoint Ms. Barbara Borra as Member of the supervisory board. Although Ms. Borra is considered independent, ECGS has concerns  over her aggregate time commitments. Ms. Borra is serving as CEO of Franke Kitchen  Systems (substantial non-listed company) and non-executive director of Brembo S.p.A. and Randstad N.V. (both listed), which exceeds ECGS' guidelines. Accordingly, ECGS recommends to vote OPPOSE. There are no fur...

Randstad – 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...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish HR & Staffing Stocks

Int'l Human Resources & Employment Services Groups are bottoming -- add exposure Our international Human Resources & Employment Services Groups (SV-10, -11, and -12) are showing signs of price and RS bottoms throughout Japan, Europe, and the UK... see charts below. We believe short-term pullbacks in the names highlighted today should be bought, particularly in light of the Fed hinting at increased flexibility and the potential for improving trade headlines. Today we highlight our favorite setups within our int'l HR & Employment Services Groups: Recruit Holdings Co., Ltd. (6098-JP), PERSOL ...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Developed Markets Leadership Chart Book

Europe in focus The U.S. dollar continues to grind marginally higher, and EM equities have suffered as a result. Meanwhile, RS for the MSCI EAFE index is bottoming when compared to the MSCI EM index, largely due to outperformance in Europe. With developed int'l markets beginning to outperform emerging markets, we recommend adding exposure to the developed int'l space. Below we highlight attractive and actionable themes within developed int'l: • Europe & Japan: Though this is an all-encompassing bottoms-up chart book for developed ex-U.S., make no mistake, the vast majority of today's buy rec...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Opportunities in Europe, Japan As markets pull back amid the tariff saga we continue to believe this is an attractive time to add exposure. This view is supported by the technicals with all major global indexes (MSCI ACWI, ACWI ex-U.S., EAFE, and EM) pulling back to their respective 200-day moving averages... see charts below. • Actionable Sectors: Services and Consumer Staples in Europe and Japan. We often view the Services Sector as a defensive way to invest in Technology. We also highlight several Consumer Staples stocks within Europe (the STOXX 600 Food & Beverage index remains leadersh...

Jérôme VINERIER

Analyse court terme - RANDSTAD : La reprise est une consolidation.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 44,80 € prochainement. Le prochain objectif est à 40,84 €, puis 39,01 €. Le franchissement de 46,70 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - RANDSTAD : Rising consolidation.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €44.80. The next target is at €40.84, then €39.01. Passing €46.70 would question the continuation of the fall.

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