Rothschild & Co

Rothschild & Co SCA is a holding company. Through its subsidiaries, Co. is engaged in banking activities and private equity. Co.'s banking activities include Investment Banking which comprises advisory services for mergers and acquisitions, advisory services for finance and restructuring, the primary equity capital market and the private placement of loans and shares; Corporate banking which comprises direct loans and structuring of financing packages; Private banking which comprises trust services, asset management and strategic planning; and Merchant Banking. Co.'s private equity activities involve investing in essentially medium-sized French companies, alongside a financial partner.
  • TickerROTH
  • ISINFR0000031684
  • ExchangeEuronext Paris
  • SectorFinancial Services
  • CountryFrance

Analysts

Charles Lepetitpas ...
  • Christophe Chaput
  • Emmanuel Matot
  • Geoffroy Michalet
  • Jean Sassus
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Martial Descoutures
  • Nicolas Thorez
  • Nicolas David
  • Oussema Denguir
  • Pierre Corby
  • Steven Gould

ODDO BHF Small & MIDCAP MORNING NEWS - 03/13/2019

Offshore and FPSO-type floating production systems will remain key for the future balance of the oil market. Between now and 2035, new offshore projects producing an additional 20 mb/d will have to be launched! We expect an acceleration in momentum in this segment after several years of underinvestment. SBM Offshore, on which we adopt a Buy recommendation (vs Neutral) with a target price of € 22, is the key player in this segment in our view. We remain more cautious on players with a ...

Jean Sassus ...
  • Steven Gould

Rothschild & Co : Résistance dans un contexte de fin d'année 2018 difficile

>Très bonne résistance par rapport à une base élevée - La performance T4 2018 et pour l’ensemble de l’année semble supérieure aux attentes :BN 2018 = 286 M€ vs consensus = 251 M€ (+14%) en hausse de 21% vs 2017 proforma.Dividende = 0.79 € soit légèrement au-dessus des attentes situées à 0.76 € et en hausse de 10% vs proforma 12m 17. La politique de croissance régulière devrait être maintenue.Conseil – Stabilisation sur un plateau très élevé - §se...

Charles Lepetitpas ...
  • Christophe Chaput
  • Emmanuel Matot
  • Geoffroy Michalet
  • Jean Sassus
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Martial Descoutures
  • Nicolas Thorez
  • Nicolas David
  • Oussema Denguir
  • Pierre Corby
  • Steven Gould

ODDO BHF Small & MIDCAP MORNING NEWS - 13/03/2019

...

Jean Sassus ...
  • Steven Gould

Rothschild & Co : Resilience in the context of a difficult end to 2018

>Very good resilience against a demanding comparison base - The Q4 2018 performance and that for the full year beat forecasts:2018 net profit = € 286m vs consensus = € 251m (+14%) up 21% vs 2017 pro forma.Dividend = € 0.79, i.e. a shade above forecasts of € 0.76 and up 10% vs pro forma 12 months 2017. The policy of regular growth should be maintained.Advisory - stable at a very high level - The 6.4% decline in revenues on a Q4/Q4 basis shoul...

Alfred Glaser ...
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Manuel Martin
  • Michael Foundoukidis
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/08/2019

An objective examination of the growth drivers of indices (macroeconomic growth expectations, EPS momentum, monetary conditions and the cost of capital) leads us to believe that the momentum observed since the start of the year cannot be maintained in the short term. In short, the market (Stoxx 600) is ahead of its transition times and should enter a fluctuation band that we estimate at between 355 and 384 points. Consequently, the most rational attitude consists in a total or partial...

Jean Sassus ...
  • Steven Gould

Rothschild & Co : Résistance dans un contexte de fin d'année 2018 difficile

>Très bonne résistance par rapport à une base élevée - La performance T4 2018 et pour l’ensemble de l’année semble supérieure aux attentes :BN 2018 = 286 M€ vs consensus = 251 M€ (+14%) en hausse de 21% vs 2017 proforma.Dividende = 0.79 € soit légèrement au-dessus des attentes situées à 0.76 € et en hausse de 10% vs proforma 12m 17. La politique de croissance régulière devrait être maintenue.Conseil – Stabilisation sur un plateau très élevé - §se...

Jean Sassus ...
  • Steven Gould

Rothschild & Co : Resilience in the context of a difficult end to 2018

>Very good resilience against a demanding comparison base - The Q4 2018 performance and that for the full year beat forecasts:2018 net profit = € 286m vs consensus = € 251m (+14%) up 21% vs 2017 pro forma.Dividend = € 0.79, i.e. a shade above forecasts of € 0.76 and up 10% vs pro forma 12 months 2017. The policy of regular growth should be maintained.Advisory - stable at a very high level - The 6.4% decline in revenues on a Q4/Q4 basis shoul...

Jean Sassus ...
  • Steven Gould

ODDO : The ECB helps those who help themselves - or does it?

>Normalisation of rates: the banks will have to wait… for longer - The ECB is now ruling out a normalisation of deposit rates by end-2019. What is more, Mr Draghi seems to be making this conditional on the inflation target. This might spark fears of a prolonged status quo since the ECB forecasts inflation of 1.5-1.6% in 2020-2021. Mr Draghi did not mention any measures intended to mitigate the impact of the negative rates on the sector. The cost for the entire sector ...

Jean Sassus ...
  • Steven Gould

ODDO : Aide-toi, la BCE t’aidera… ou pas

>Normalisation des taux : les banques attendront… encore - La BCE exclut dorénavant une normalisation des taux de dépôts d’ici fin 2019. De plus Mr Draghi semble la conditionner à l’objectif d’inflation. Cela peut faire craindre un statu quo prolongé puisque la BCE table sur une inflation de 1.5% à 1.6% en 2020-2021. Mr Draghi n’a pas évoqué de mesures destinées à mitiger l’impact des taux négatifs pour le secteur. Le coût pour l’ensemble du secteur serait d’environ 7...

Jean Sassus ...
  • Steven Gould

ODDO : CIB US: equity and M&A save Q4 vs fixed income

>Q4 2018 revenues close to historic levels despite fixed income - Q4 2017 CIB revenues for the five US banks are down -4.9% vs Q4 2017 but are just -0.6% below the average for Q4 revenues since 2009. All of the banks nonetheless underscored challenging market conditions, notably for fixed income.Morgan Stanley, Bank of America and Citi posted Q4 revenues above the average historic level for Q4. In contrast, Goldman Sachs and JP Morgan have still not managed to re...

1 director sold

A director at Rothschild & Co sold 7,500 shares at 33.858EUR and the significance rating of the trade was 80/100. 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...

Charles Lepetitpas ...
  • Christophe Chaput
  • Emmanuel Matot
  • Geoffroy Michalet
  • Jean Sassus
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Martial Descoutures
  • Nicolas Thorez
  • Nicolas David
  • Oussema Denguir
  • Pierre Corby
  • Steven Gould

ODDO BHF Small & MIDCAP MORNING NEWS - 03/13/2019

Offshore and FPSO-type floating production systems will remain key for the future balance of the oil market. Between now and 2035, new offshore projects producing an additional 20 mb/d will have to be launched! We expect an acceleration in momentum in this segment after several years of underinvestment. SBM Offshore, on which we adopt a Buy recommendation (vs Neutral) with a target price of € 22, is the key player in this segment in our view. We remain more cautious on players with a ...

Charles Lepetitpas ...
  • Christophe Chaput
  • Emmanuel Matot
  • Geoffroy Michalet
  • Jean Sassus
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Martial Descoutures
  • Nicolas Thorez
  • Nicolas David
  • Oussema Denguir
  • Pierre Corby
  • Steven Gould

ODDO BHF Small & MIDCAP MORNING NEWS - 13/03/2019

...

Alfred Glaser ...
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Manuel Martin
  • Michael Foundoukidis
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/08/2019

An objective examination of the growth drivers of indices (macroeconomic growth expectations, EPS momentum, monetary conditions and the cost of capital) leads us to believe that the momentum observed since the start of the year cannot be maintained in the short term. In short, the market (Stoxx 600) is ahead of its transition times and should enter a fluctuation band that we estimate at between 355 and 384 points. Consequently, the most rational attitude consists in a total or partial...

Alfred Glaser ...
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Manuel Martin
  • Michael Foundoukidis
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/03/2019

Un examen objectif des moteurs de progression des indices (anticipations de croissance macroéconomique, dynamique des BPA, évolution des conditions monétaires et coût du capital) nous amène à penser que la dynamique observée depuis le début de l’année ne peut se maintenir à court terme. Bref, le marché (Stoxx 600) est en avance sur ses temps de passage et devrait entrer dans une bande de fluctuation que nous estimons comprise entre 355 et 384 points. En conséquence, l’attitude la plus...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Laurence Hofmann
  • Olfa Taamallah
  • Stephane Houri
  • Steven Gould
  • Veysel Taze
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/21/2019

...

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...

Rothschild & Co - Assemblée générale des actionnaires du 16 mai 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.

Matthieu DRIOL

Short term view - ROTHSCHILD & CO : Prices are still making progress

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at €37.50. Breaking below the support at €30.00 would invalidate the trend.

Matthieu DRIOL

Analyse court terme - ROTHSCHILD & CO : Les cours progressent encore.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 37,50 €. La rupture du support à 30,00 € invaliderait cette tendance.

Matthieu DRIOL

Short term view - ROTHSCHILD & CO : 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 €30.00.

Matthieu DRIOL

Analyse court terme - ROTHSCHILD & CO : 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 30,00 €.

Matthieu DRIOL

Analyse moyen terme - ROTHSCHILD & CO : Les cours progressent toujours.

La tendance de fond est clairement orientée à la hausse. Les cours progressent toujours. Les objectifs suivants sont à 37,20 € et 40,00 €. La tendance serait invalidée sous le support à 28,25 €.

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