EPS CHANGE
CHANGE IN TARGET PRICE€ 48.6 vs 50.4 -3.61%
Target price is slightly down (€48.6 vs €50.4), as a consequence of some changes in our earnings assumptions.
CHANGE IN EPS2018 : € 1.51 vs 1.88 -19.5%
2019 : € 1.83 vs 2.01 -8.76%
The EPS changes stem from our new EBITDA 2018-20 estimates: in particular €4.5m in 2018 (vs €5.5m), and €9.5m in 2020 (vs €10m). In a fixed cost model, earnings can vary significantly more rapidly than sales, which we anticipate to be €1m lower than previ ....
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EPS cut (2018: -19.5%, 2019: -8.8%) (EasyVista)
- Published:
20 Sep 2018 -
Author:
Charles Edouard Boissy -
Pages:
2
EPS CHANGE
CHANGE IN TARGET PRICE€ 48.6 vs 50.4 -3.61%
Target price is slightly down (€48.6 vs €50.4), as a consequence of some changes in our earnings assumptions.
CHANGE IN EPS2018 : € 1.51 vs 1.88 -19.5%
2019 : € 1.83 vs 2.01 -8.76%
The EPS changes stem from our new EBITDA 2018-20 estimates: in particular €4.5m in 2018 (vs €5.5m), and €9.5m in 2020 (vs €10m). In a fixed cost model, earnings can vary significantly more rapidly than sales, which we anticipate to be €1m lower than previ ....