Orange provides consumers, businesses and other telecommunications operators with a wide range of services including fixed telephony and mobile telecommunications, data transmission, Internet and multimedia, and other services. Co.'s portfolio comprises business lines (fixed-line, mobile, Internet), focusing on all customer segments (small and medium-sized businesses, multinationals), and personal and professional services for home, office, travel, and mobile. Co. manages eight operating segments: France, Poland, Spain, Rest of the Europe, Africa and Middle East, Other non-controlling equity interests, Enterprise Communication Services, and International Carriers and Shared Services.
  • TickerORA
  • ISINFR0000133308
  • ExchangeEuronext Paris
  • SectorFixed Line Telecommunications
  • CountryFrance
Andrew Entwistle

New Street: Huawei impact: Don't read too much into operators' rip-and-replace costs

Vodafone warned UK MPs today that it could cost “low single digit billions” (of GBP) to get rid of all the Huawei equipment in UK networks. BT warned of blackouts for customers if the timetable for removal was too tight.

Russell Waller

New Street: W. Europe Fixed Tariff Tracker June 2020: Encouraging moves in Germany and France

Average price growth declined slightly to -1.7% YoY in May (from -1.0% YoY in May), with FTTP price reductions in Austria offsetting improving trends in other markets.

Jérôme VINERIER

Short term view - ORANGE : The trend is uncertain.

The trend is uncertain. Prices have recovered but the trend lacks power for the time being. The next resistance is at €14.440.

Jérôme VINERIER

Analyse court terme - ORANGE : La tendance est incertaine.

La tendance est incertaine. Les cours se sont repris, mais la tendance manque de puissance pour le moment. La prochaine résistance est à 14,440 €.

Jérôme VINERIER

Short term view - ORANGE : The background trend is clearly bearish.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €13.29. The background trend would be questioned should prices rise above €14.44.

Jérôme VINERIER

Analyse court terme - ORANGE : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 13,29 €. La tendance de fond serait remise en cause en cas de franchissement de 14,44 €.

Valérie GASTALDY

Medium term view - ORANGE : Falling prices.

The trend is uncertain. Prices are falling and they may accelerate to the downside. A new bearish trend is attempting to emerge.

Thomas Coudry

ORANGE - BUY | EUR17.5 (+17%) Orange set to accelerate in financial services

ORANGE - BUY | EUR17.5 (+17%) Orange set to accelerate in financial services Strong ambitions in diversification, leveraging on core business Orange bank set to keep on growing in Europe, at a cost Africa and Middle East still paving the way in financial services

Andrew Entwistle

New Street: Huawei impact: Don't read too much into operators' rip-and-replace costs

Vodafone warned UK MPs today that it could cost “low single digit billions” (of GBP) to get rid of all the Huawei equipment in UK networks. BT warned of blackouts for customers if the timetable for removal was too tight.

Russell Waller

New Street: W. Europe Fixed Tariff Tracker June 2020: Encouraging moves in Germany and France

Average price growth declined slightly to -1.7% YoY in May (from -1.0% YoY in May), with FTTP price reductions in Austria offsetting improving trends in other markets.

Thomas Coudry

Telecom: Top picks Q3: Playing catch up

Telecom Top picks Q3: Playing catch up A look back at Q2 2020 What do we see for Q3 2020 Our top picks for Q3: Orange and Bouygues; Iliad downgraded to Neutral

Russell Waller

New Street: Orange (Buy): 5 things Orange should do to support its share price

Orange shares are c-19% YTD vs the sector c-13%. It now even trades at a -10% discount on EV/ FCF despite heavy FTTH spend.

Stephane Houri

Accor : Digitisation post-COVID: what consequences for our sectors and stocks?

This cross-sector report from ODDO BHF equity research aims to identify the sectors and stocks positively affected by or at risk from an acceleration in the digitisation of society and the economy post COVID-19. We arrive at a list of 16 attractive stocks and 12 stocks that we see as being at risk. - >Accelerated digitisation, no turning back - The COVID-19 crisis will without a doubt accelerate use of digital in society in general. The effectiveness of teleworking has...

Orange: Key Facts and Statistics - H1 June 2019

A summary company profile, detailing Orange’s business operations and financial highlights.

Orange: Update following ratings affirmation

Our credit view of Orange, reflecting its moderate, although sustained, operating performance improvements and the expected increase in adjusted net leverage towards 2.7x by 2021.

Moody's affirms Orange's Baa1 ratings; stable outlook

Rating Action: Moody's affirms Orange's Baa1 ratings; stable outlook. Global Credit Research- 18 Sep 2019. Madrid, September 18, 2019-- Moody's Investors Service has affirmed the Baa1 issuer rating, the Baa1 senior unsecured rating, the Baa1 senior unsecured MTN rating, Baa1 Senior Unsecured Shelf and the Baa3 junior subordinate rating of Orange, France's leading integrated telecommunications operator.

Orange - June 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Orange: Update to credit analysis - Sustained capex for longer

Our credit view of Orange, reflecting improving operating performance despite increased competitive pressures in the domestic market

Alexandre Iatrides ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Martial Descoutures
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Samantha Jeary
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/30/2020

...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Martial Descoutures
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Samantha Jeary
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 30/04/2020

...

Alexandre Iatrides ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Danjou
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Matthias Desmarais
  • Michael Foundoukidis
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/13/2020

...

Alexandre Iatrides ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Danjou
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Matthias Desmarais
  • Michael Foundoukidis
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 13/02/2020

...

Alexandre Iatrides ...
  • Alfred Glaser
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jean Sassus
  • Manuel Martin, CEFA,CREA
  • Martial Descoutures
  • Oussema Denguir
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/29/2019

...

Increased risk weighs on ORANGE SA, penalising its rating down to Neutral

The independent financial analyst theScreener just lowered the general evaluation of ORANGE SA (FR), active in the Integrated Telecommunications 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 May 22, 2020, the closing price was EUR 10.28 and its target price was estimated at EUR 9.45.

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...

Expert Corporate Governance Service (ECGS)

Orange – AGM 19 May 2020

ITEMS 3, 16, 21 and A: The company proposes a dividend of €0.50 per share (i.e. €1,330 M) (resolution 3). This is significantly more sustainable for the company than the initial proposal (€0.70 per share). Indeed, in view of the group's future investment needs (particularly in the face of the 5G challenge), but also the need to control or even reduce its debt, this proposal seemed excessive to us, and we therefore prefer the new proposal.   Regarding the share buyback authorization (resolution 16), the company's practice in this area is rather reasonable since 91% of the shares bought back a...

Jehanne Leroy

Orange - Assemblée Général des Actionnaires du 19 Mai 2020

Dividende et rachat d’actions: La société propose un dividende de 0,50 €/action (soit 1 330 M€) (résolution 3). Celui-ci est nettement plus soutenable par la société que la proposition précédente (0,70 €/action). En effet, au regard des futurs besoins en investissements du groupe (notamment face au défi de la 5G), mais également de la nécessité de maitriser voire réduire son endettement, cette proposition nous semblait excessive, et on lui préfère donc la nouvelle proposition. Concernant le rachat d’actions (résolution 16), la pratique de la société en la matière est plutôt raisonnable puisque...

Expert Corporate Governance Service (ECGS)

Orange - AGM 21 May 2019

On 26 April 2019, the Company published a convening notice which included 4 external proposals and one non-voting item.ITEM 3: The Company proposes to increase to €0.70 per share (€ 1,862 million). The dividend will be covered neither by the Group’s earnings per share (€ 0.63) nor by its free cash flows (defined by ECGS as being cash flow – investing cash flow i.e € 954 million). Hence, taking into account future investments that the Company will require (mainly regarding the 5G technology challenge), and its will to maintain or reduce its indebtedness, ECGS chooses to support the employees’ p...

Jehanne Leroy

Orange - Assemblée Générale du 21 Mai 2019

Le 26/04/2019, la société a publié un avis de convocation comportant 4 résolutions externes et 1 point à l'ordre du jour : Dividende : La société propose d'augmenter son dividende à 0,70 €/action (soit 1 862 M€). Celui-ci ne sera donc couvert ni par le bénéfice par action du groupe (0,63 €), ni par les cash flow opérationnels net des cash flow d'investissements (954 M€). Aussi, au regard des futurs besoins en investissements du groupe (notamment face au défi de la 5G), mais également de la nécessité de maitriser voire réduire son endettement, cette proposition nous semble excessive, et on ...

Orange – 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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