Metro: Oddo still stearing clear, target maintained
(CercleFinance.com) - The German retailer has given a foresight for its Q3 2019/20 sales and EBITDA and announced new guidance for the fiscal year.
Consolidated revenues are down 19.8% to 5,568 million euros (under the 5,620 million euros expected by Oddo and 5,590 million euros forecast by the consensus). Consolidated EBITDA works out at 175 million euros against 373 million euros last year, -53.1% - in line with Oddo's expectations of 170 million euros (just like the consensus).
The broker says that it is expecting EBIT of -37 million euros (consensus: -42 million euros) and a net loss of -128 million euros for the quarter (consensus: -134 million euros).
The company has provided a new 2019/20 guidance of an expected decline 14% to 18% in EBITDA (Oddo expects -15%), against a flat result expected initially.
Oddo confirms its Reduce rating on the Metro AG share with a target price of 7.5 euros (10% downside).
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.