Casino Guichard-Perrachon et Cie. S.A.

Casino Guichard-Perrachon is a food retailer based in France. Co. operates hypermarkets, supermarkets, discount stores, convenience stores and cafeterias. Co.'s stores are discount stores selling groceries and consumer goods, and providing services like financial and insurance services, real estate, and restaurants. Co. operates hypermarkets under the brand Geant Casino; urban and rural supermarkets under the brand Casino Supermarches; city-centre supermarkets under the brand Monoprix; convenience/national superettes under the brands Petit Casino, Vival and Spar; covenience-paris area stores under the brand Marche Franprix; and discount stores under the brand Leader Price.
  • TickerCO
  • ISINFR0000125585
  • ExchangeEuronext Paris
  • SectorFood & Drug Retailers
  • CountryFrance
Clement Genelot

CASINO GUICHARD: Let the auctions start at LatAm, but beware of the Dec 2020 covenant | SELL | EUR23(+2%)

CASINO GUICHARD - SELL | EUR23(+2%) Let the auctions start at LatAm, but beware of the Dec 2020 covenant GPA about to spin-off its cash-and-carry unit Assaí Positive theoretical impact on the SOTP Paving the way to sell Assai in 2021-22 Sell reiterated as it doesn’t erase short-term concerns about covenants

Christian Guyot ...
  • Ludovic Martin

INVEST SECURITIES - CASINO : La chute des cours de bourse va-t-elle trop loin ? - NEUTRE vs VENTE, OC 23,5€ (vs 31€)

Valérie GASTALDY

Analyse court terme - CASINO : Baisse en cours.

La tendance est haussière. La baisse en cours s'apparente à une consolidation. Le support à 32,70 € pourrait relancer le mouvement haussier vers 41,61 €. La rupture de 25,30 € mettrait la tendance en danger.

Valérie GASTALDY

Short term view - CASINO : Falling.

The trend is bullish. The current fall looks like a consolidation. The support at €32.70 could cause a bullish reaction towards €41.61. The break of €25.30 would endanger the trend.

Valérie GASTALDY

Short term view - CASINO : The trend is bullish.

The trend is bullish. Prices are still making progress but the trend is slowing down. The next resistance is at €41.61. The break of €25.30 would endanger the trend.

Valérie GASTALDY

Analyse court terme - CASINO : La tendance est haussière.

La tendance est haussière. Les cours progressent encore, mais la tendance s'affaiblit. La prochaine résistance est à 41,61 €. La rupture de 25,30 € mettrait la tendance en danger.

Jérôme VINERIER

Analyse moyen terme - CASINO : Le rebond gagne en vigueur.

La tendance de fond est clairement orientée à la baisse. Le rebond gagne en vigueur. Il est trop tôt pour parler de retournement haussier. La tendance de fond serait remise en cause en cas de franchissement de 52,72 €.

Clement Genelot

CASINO GUICHARD GreenYellow to undertake a EUR150m capital increase

GreenYellow to undertake a EUR150m capital increase GreenYellow to undertake a EUR150m capital increase with two funds Operation reducing Casino's need for financing Also waiting for the disposal of Viavarejo!

Clement Genelot

CASINO GUICHARD: Let the auctions start at LatAm, but beware of the Dec 2020 covenant | SELL | EUR23(+2%)

CASINO GUICHARD - SELL | EUR23(+2%) Let the auctions start at LatAm, but beware of the Dec 2020 covenant GPA about to spin-off its cash-and-carry unit Assaí Positive theoretical impact on the SOTP Paving the way to sell Assai in 2021-22 Sell reiterated as it doesn’t erase short-term concerns about covenants

Christian Guyot ...
  • Ludovic Martin

INVEST SECURITIES - CASINO : La chute des cours de bourse va-t-elle trop loin ? - NEUTRE vs VENTE, OC 23,5€ (vs 31€)

Laurence Hofmann

Casino : Better than decent H1 2020 results – the scale of the fall in the share price looks excessive relative to fundamentals

>Good commercial momentum in Q2 (+10.4% l-f-l) - Sales were € 16,140m in H1, down -4.2% reported but up 5.9% on an organic basis (with +10.8% in Q2). In Q2, l-f-l growth was higher than we expected: +10.4% on a consolidated basis (vs +5.9%e) with +6% in France (vs 2.9%e) and +12.5% in Latam (vs +8%e). The performance of the banners in France was particularly good: supermarkets and convenience stores took full advantage of the health crisis: +9.9% l-f-l for supermarket...

Laurence Hofmann

Casino : Des semestriels plus qu’honorables au S1 2020 – l’ampleur de la chute boursière nous semble excessive par rapport aux fondamentaux

>Bonne dynamique commerciale au T2 (+10.4% en LFL) - Ventes de 16 140 M€ au S1, -4.2% en déclaré mais en progression de 5.9% en organique au (dont +10.8% au T2). Au T2, la dynamique en LFL a été au-delà de nos attentes : +10.4% en consolidé (vs +5.9%e), dont +6% en France (vs 2.9%e) et +12.5% au Latam (vs +8%e). La performance des enseignes France est particulièrement bonne : les supermarchés et la proximité profitant pleinement de la crise sanitaire : +9.9% en LFL po...

Laurence Hofmann

Casino : Casino should post decent H1 2020 results. No risks on the quarterly covenants, but no triggers on the stock in the short term

>Q2 2020 still buoyed by the Covid-19 crisis: +7.2%e in organic terms. - Q2 2020 sales: consolidated sales of € 7.65bne, -9.9%e reported (forex effect -13%e, fuel impact -1.9%e, scope -1.8%e). In organic terms, Q2 was along the same lines as in Q1, i.e. +7.2%e vs +7.9% (with the Covid-19 crisis continuing to benefit the group thanks to its convenience formats). France: € 3.813bn, -8.1%e reported and +0.5%e organically (hypermarkets affected l-f-l, at -4.6%e, Monoprix,...

Anne-Barbara Nicco

Casino : Recommendations left unchanged in the light of recent developments

In this new report, we discuss the recent newsflow, mainly the draft safeguard plan for Rallye announced in December and Casino's profit warning in January, as a direct result of transport strikes. In light of these developments and current yield levels, we are leaving unchanged our recommendations (Buy 2021 to 03/2024 notes, Neutral on other notes). - >A revision of France Retail trading profit guidance, which should undermine the free cash flow target though this should...

Anne-Barbara Nicco

Casino : Recommandations inchangées à la lumière des développements récents

Nous revenons, dans cette nouvelle note, sur le newsflow récent autour du groupe, à savoir principalement le projet de sauvegarde de Rallye dévoilé début décembre et le profit warning de janvier, conséquence directe des grèves de transport. A la lumière de ces développements et des niveaux de rendements actuels, nous ne modifions pas nos recommandations (Achat des maturités 2021 à 2024, Neutre sur les autres souches). - >Une révision de la guidance de ROC France Retail qui...

Marnik Hinnekens

TP ICAP - Europe - Focus High Yield 04/12/2019 - Casino- FR

TP ICAP - Europe - Focus High Yield 04/12/2019 - Casino- FR

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 19/11/2019 - Aroundtown - FR

Aroundtown (Conserver) : Fusion avec TLG Immobilien (Achat) Erste Group Bank (Achat) : Emission d'un nouveau titre Tier 2 à mid-swap+130pbs Accor (Achat) : Cède 5,2% de sa filiale AccorInvest pour €204m Casino (Achat souches courtes, Conserver souches longues) : Nouvelle ligne de crédit syndiquée de €2 mds ArcelorMittal (Achat) : Finalise l'acquisition d'Essar Steel d’un montant de $5,8 mds Coty (Achat) : Acquisition de 51% du groupe Kylie Jenner pour $600m Volkswagen (Achat) : Revoit à la baisse ses perspectives de moyen-terme 2016-2020 ...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 13/11/2019 - Heimstaden Bostad - EN

Heimstaden Bostad (Conserver) : Nouvelle émission hybride ABN Amro (Achat) - 9M-19 : RN de €1,7 md (-14%) Casino (Achat souches courtes, Conserver souches longues) : ~€784m apportés aux offres de rachats Saint-Gobain (Achat) : Accord pour l’acquisition de Continental Building Products pour une valeur d’entreprise de $1,4 md Continental (Achat) - 9M-19 : EBITDA de €4,0 mds (-13,9%) Gestamp (Achat) - 9M-19 : EBITDA de €755m (+10,8%) Prysmian (Vente) - 9M-19 : EBITDA pro-forma de €773m (+18,8%) Enel (Achat) : Relève ses objectifs po...

Emmanuel Matot ...
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 07/21/2020

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Emmanuel Matot ...
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 21/07/2020

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Alfred Glaser ...
  • Aurelien Sivignon
  • Baptiste Lebacq
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Martial Descoutures
  • Nicolas David
  • Nicolas Thorez
  • Oussema Denguir
  • Roland Pfaender,MBA,CFA,CCRA

ODDO BHF Small & MIDCAP MORNING NEWS - 04/24/2020

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Increased risk weighs on CASINO GUICHARD-P, penalising its rating down to Neutral

The independent financial analyst theScreener just lowered the general evaluation of CASINO GUICHARD-P (FR), active in the Food Retailers & Wholesalers 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 moderately risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Neutral. As of the analysis date August 14, 2020, the closing price was EUR 24.35 and its target price was estimated at EUR 22.38.

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 we...

Expert Corporate Governance Service (ECGS)

Casino Guichard Perrachon – AGM 17 June 2020

FINANCIAL SITUATION   On 23 May 2019, Casino was informed by its reference shareholder, Rallye, of the opening of safeguard proceedings related to respectively Rallye and its subsidiaries Cobivia and HMB, as well as Foncière Euris, Finatis and Euris. On 2 March 2020, Rallye, Foncière Euris, Finatis and Euris announced that the Paris commercial court had approved their safeguard plans on 28 February 2020.   In this context, no dividend is proposed in accordance with Proxinvest request for several years (resolution 3).   BOARD OF DIRECTORS   The elections and re-elections of directorship...

Charles Pinel

Casino Guichard-Perrachon - Assemblée Générale des actionnaires du 17 juin 2020

SITUATION FINANCIERE Par jugements du 28 février 2020, le Tribunal de commerce de Paris a arrêté les plans de sauvegarde de Rallye et de ses filiales ainsi que de leurs maisons-mères, les sociétés Foncière Euris, Finatis et Euris, sociétés constituant la cascade de holdings par laquelle Jean-Charles Naouri contrôle Casino. Dans ce cadre, il a enfin été mis fin au versement d’un dividende ainsi que le réclamait Proxinvest depuis plusieurs années. Cependant, cette décision n’interrompt pas le processus de cessions du groupe afin de désendetter les holdings de contrôle, processus qui rogne ainsi ...

Casino - Assemblée générale des actionnaires du 07 mai 2019

SITUATION FINANCIERE Casino fait l'objet de spéculations de la part de certains investisseurs en raison de l'endettement de la holding de contrôle de Jean-Charles Naouri, Président-Directeur général et principal actionnaire. Dans ce contexte, Casino a procédé à un plan de cession pour 1,5 Mds€ et a fixé une nouvelle cible d'au moins 2,5 Mds€ à réaliser d'ici le premier trimestre 2020. Cependant, le groupe a dégagé une perte de 54 M€ en 2018 et propose un dividende qui semble avant tout permettre à l'actionnaire de contrôle d'honorer sa dette financière. Il est temps que les actionnaires se mon...

Expert Corporate Governance Service (ECGS)

Casino Guichard Perrachon - AGM 07 May 2019

FINANCIAL SITUATION Casino is the subject of speculation by some investors due to the indebtedness of the controlling holding company of Jean-Charles Naouri, Chairman - CEO and main shareholder. In this context, Casino has implemented a disposal plan for € 1.5 billion and has set a new target of further asset disposal of at least € 2.5 billion to be achieved by the first quarter of 2020. However, the group generated a loss of € 54 million in 2018 and proposes a dividend that seems above all to allow the controlling shareholder to honour its financial debt. It is time for shareholders to act r...

Casino Guichard-Perrachon – 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...

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