Publicis Groupe S.A.,

Publicis is holding company. Through its subsidiaries, Co. is engaged in marketing, communication and digital transformation. Co. designs a customized package of services to meet each client's particular needs through a holistic and global approach. In addition, Co. provides financial markets with information concerning the relative size of each of the different business sectors for the sole purpose of allowing sector comparisons. Co.'s principal activities comprise four main categories: Digital, Advertising, Specialized Agencies and Marketing Services (SAMS) and Media.
  • TickerPUB
  • ISINFR0000130577
  • ExchangeEuronext Paris
  • SectorMedia
  • CountryFrance

Publicis Groupe Sa: 8 directors sold

Eight Directors at Publicis Groupe Sa sold 44,555 shares at between 28.985EUR and 29.247EUR. The significance rating of the trade was 77/100. 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...

Antoine Boivin-Champeaux ...
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/24/2020

The shock caused by the COVID-19 pandemic is much bigger than the previous impacts seen since the Bureau Veritas IPO (October 2007), whether from the financial crisis (2008-2009), the sudden drop in oil prices (2014-2015) or the trade war (2019). Q2 2020 results will show historically large organic declines (double digits in some cases) even though sector groups theoretically have resilient and diversified profiles. Eurofins and Bureau Veritas are our Top Picks. We downgrade Applus to...

Antoine Boivin-Champeaux ...
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 24/07/2020

Le choc du COVID-19 dépasse largement les précédents impacts négatifs rencontrés depuis l’introduction en Bourse de Bureau Veritas (octobre 2007), que ce soit la crise financière (2008-2009), la chute brutale du cours du pétrole (2014-2015) ou la guerre commerciale (2019). Ces T2 2020 auront un caractère historique par l’ampleur de leur régression organique (à deux chiffres parfois) malgré des profils théoriquement résilients et diversifiés. Eurofins et Bureau Veritas sont nos valeurs...

Jerôme Bodin

Publicis : Visibility is limited but risk on EBIT is low

>Poor visibility on activity but we remain confident on the 2020 margin - Publicis held its conference call following the publication of its interim results that topped expectations (EBIT of an estimated € 622m vs € 459m forecast). The group delivered a cautious message on H2, opting not to provide any quantified indications. However, the advertising trend will likely improve slightly in Q3 then in Q4. This is why, we are now forecasting a 7.7% contraction in Publicis...

Jerôme Bodin

Publicis : La visibilité est limitée mais le risque sur l’EBIT est faible

>Peu de visibilité sur l’activité mais nous restons confiants sur la marge 2020 - Publicis a tenu hier sa conférence téléphonique suite à ses résultats S1 ressortis au-dessus des attentes (EBIT de 622 M€ vs 459 M€ attendus). Le groupe a délivré un message prudent sur le S2 ne souhaitant pas donner d’indication chiffrée. Il nous semble toutefois probable que la tendance publicitaire s’améliore légèrement au T3 puis au T4. C’est pourquoi nous tablons dorénavant sur une ...

Valérie GASTALDY

Short term view - PUBLICIS SA : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €50.28. The background trend would be questioned should prices rise above €56.26.

Valérie GASTALDY

Analyse court terme - PUBLICIS SA : Les prix baissent.

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 50,28 €. La tendance de fond serait remise en cause en cas de franchissement de 56,26 €.

Valérie GASTALDY

Short term view - PUBLICIS SA : 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 €50.28. The background trend would be questioned should prices rise above €56.26.

Valérie GASTALDY

Analyse court terme - PUBLICIS SA : 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 50,28 €. La tendance de fond serait remise en cause en cas de franchissement de 56,26 €.

Valérie GASTALDY

Analyse moyen terme - PUBLICIS SA : Le mouvement se poursuit.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 44,75 €, puis 39,00 €. Le franchissement de 66,31 € remettrait en cause la suite de la baisse.

Publicis Groupe Sa: 8 directors sold

Eight Directors at Publicis Groupe Sa sold 44,555 shares at between 28.985EUR and 29.247EUR. The significance rating of the trade was 77/100. 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...

Jerôme Bodin

Publicis : Visibility is limited but risk on EBIT is low

>Poor visibility on activity but we remain confident on the 2020 margin - Publicis held its conference call following the publication of its interim results that topped expectations (EBIT of an estimated € 622m vs € 459m forecast). The group delivered a cautious message on H2, opting not to provide any quantified indications. However, the advertising trend will likely improve slightly in Q3 then in Q4. This is why, we are now forecasting a 7.7% contraction in Publicis...

Jerôme Bodin

Publicis : La visibilité est limitée mais le risque sur l’EBIT est faible

>Peu de visibilité sur l’activité mais nous restons confiants sur la marge 2020 - Publicis a tenu hier sa conférence téléphonique suite à ses résultats S1 ressortis au-dessus des attentes (EBIT de 622 M€ vs 459 M€ attendus). Le groupe a délivré un message prudent sur le S2 ne souhaitant pas donner d’indication chiffrée. Il nous semble toutefois probable que la tendance publicitaire s’améliore légèrement au T3 puis au T4. C’est pourquoi nous tablons dorénavant sur une ...

Jerôme Bodin

Publicis : A quarterly performance that beat expectations at both the organic and margin level

>H1 far better than expected - The morning, Publicis published interim results which beat forecasts (EBIT of € 622m vs € 459m forecast), with an organic decline of 13% whereas we had forecast -18.2%, a forecast that was already above the consensus. The conference call should confirm a better-than-anticipated trend in the advertising market, particularly in the US. Once again, cost management proves to be Publicis strong point. We reiterate our Neutral recommendation o...

Jerôme Bodin

Publicis : Un trimestre nettement meilleur qu’attendu tant au niveau de la croissance qu'en termes de marge

>Un S1 nettement meilleur qu’attendu - Publicis a publié ce matin des résultats du 1er semestre supérieurs aux attentes (EBIT de 622 M€ vs 459 M€ attendus) sur la base d’une baisse organique de 13% alors que nous tablions sur -18,2% et que nous étions déjà supérieurs au consensus. La conférence téléphonique devrait confirmer une tendance meilleure qu’attendu sur le marché publicitaire, tout particulièrement aux USA. La gestion des coûts ressort une nouvelle fois comme...

Jerôme Bodin

ODDO : Q2 2020 media previews: favour stocks with exposure to advertising

>We favour TF1 and even Publicis although structural challenges persist - We recap here on our Q2 2020 results expectations for media groups. The first publication will be Publicis’ interim results due out on 23 July. Despite a highly challenging Q2 for all stocks, we anticipate a broadly more reassuring message from the various management teams on the advertising trend. The situation is likely to normalise given that a number of markets are already showing signs of g...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 17/10/2019 - Eurofins - FR

Eurofins (Achat) : Rapport ‘Shadowfall’ : les points abordés par le hedge fund semblent anciens ou faux Bank of America : RN de $19,3 mds (-2,1%) Informa : Emission de €550m à 8,5ans à ms+190bps Faurecia (Achat) - T3-19 : Ventes de €4,1mds (+4,3%, -3,7% à change constant) Bayer (Vente) : S’attend à une hausse du nombre de plaintes au sujet du Roundup Rexel (Conserver) - 9M-19 : CA de €10,2 mds (+3,6%, +2,1% en comparable) Publicis (Vente) : S&P dégrade la note d'un cran à BBB avec perspective stable

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 17/10/2019 - Eurofins - EN

Eurofins (O/P): Shadowfall Report: Adverse Conclusions Probably Based On Outdated And Inaccurate Information Bank Of America: 9M19 - Net Profit Of $19.3bn (-2.1%) Informa: New €550m Bond With A 8.5Y Maturity Issued At Ms+190bps Faurecia (O/P) - Q3-19: Sales Of €4.1bn (+4.3%, -3.7% At Constant Exchange Rates) Bayer (U/P): Expects An Increase In The Number Of Complaints About Roundup Rexel (M/P) - 9M-19: €10.2bn In Revenues (+3.6%, +2.1% On A Comparable Basis) Publicis (U/P): S&P Downgrades The Rating By One Notch To BBB With Stable Outlook

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 11/10/2019 - Automotive Parts Suppliers - EN

TP ICAP - Europe - Morning CreditUpdate 11/10/2019 - Automotive Parts Suppliers - EN

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 11/10/2019 - Equipementiers automobiles - FR

Equipementiers automobiles : Un secteur avec une marge attendue en léger recul, nous ajustons nos recommandations CNP Assurances (Achat Tier 2) : Pourrait se développer dans l’assurance dommages et prévoyance Banques américaines : La Fed allège les exigences de capitaux des banques UCB (Achat) : Acquisition de Ra Pharmaceuticals pour €2 mds Publicis (Vente vs. Achat) - 9M-19 : Revenus de €6,9 mds (+3,3% à tcc, -1,4% en organique) Suedzucker (Vente) -  S1-19/20 : EBITDA de €214m (-17,4%) Salini Impregilo (Achat) : Contrat de €388m en Norvèg...

Antoine Boivin-Champeaux ...
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/24/2020

The shock caused by the COVID-19 pandemic is much bigger than the previous impacts seen since the Bureau Veritas IPO (October 2007), whether from the financial crisis (2008-2009), the sudden drop in oil prices (2014-2015) or the trade war (2019). Q2 2020 results will show historically large organic declines (double digits in some cases) even though sector groups theoretically have resilient and diversified profiles. Eurofins and Bureau Veritas are our Top Picks. We downgrade Applus to...

Antoine Boivin-Champeaux ...
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 24/07/2020

Le choc du COVID-19 dépasse largement les précédents impacts négatifs rencontrés depuis l’introduction en Bourse de Bureau Veritas (octobre 2007), que ce soit la crise financière (2008-2009), la chute brutale du cours du pétrole (2014-2015) ou la guerre commerciale (2019). Ces T2 2020 auront un caractère historique par l’ampleur de leur régression organique (à deux chiffres parfois) malgré des profils théoriquement résilients et diversifiés. Eurofins et Bureau Veritas sont nos valeurs...

Louis Boujard, CFA ...
  • Philippe Ourpatian

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/23/2020

...

Louis Boujard, CFA ...
  • Philippe Ourpatian

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 23/07/2020

...

Bruno Cavalier ...
  • Jerôme Bodin
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/20/2020

Discussing a return of inflation may seem irrelevant at a time when there is so much downward pressure on prices (unemployment, raw materials). Inflation swaps are nonetheless picking up. Perhaps this is due to the effects of several long-term trends (ageing of the population, de-globalisation, etc.) combined with base effects on raw materials. While this return is likely to be gradual, it will imply an adjustment of portfolios. Value (banks) and commodities (mining) should benefit, e...

Thanks to a better fundamental star rating, PUBLICIS GROUPE SA sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to PUBLICIS GROUPE SA (FR), active in the Media Agencies industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date June 16, 2020, the closing price was EUR 30.06 and its expected value was estimated at EUR 27.25.

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)

Publicis Groupe – AGM 27 May 2020

ITEMS 6, 10 and 12: Despite the planned reduction in compensation for 2020 (which justifies our support for Resolution 6), the compensation policy for the Chairman of the Board does not respect our principles since it remains excessive. Similarly, the compensation policy for the Members of the Management Board provides for performance share plans allowing for vesting in the event of performance below the median (see resolution 12), which is not acceptable for a CAC 40 company. However, by virtue of paragraph 2 of II of article L. 225-100 of the French Commercial Code, only the rejection of res...

Jehanne Leroy

Publicis Groupe - Assemblée Générale du 27 mai 2020

Rémunérations : Malgré la baisse de rémunération prévue pour 2020 (qui justifie notre soutien à la résolution 6), la politique de rémunération du président du Conseil ne respecte pas nos principes puisqu’elle demeure excessive. De la même façon, la politique de rémunération des Membres du Directoire prévoit des plans d’actions de performance permettant l’acquisition en cas de performance inférieure à la médiane (voir résolution 12), ce qui n’est pas acceptable pour une société du CAC 40. Or, en vertu de l'alinéa 2 du II de l'article L. 225-100 du Code de commerce, seul le rejet de la résolutio...

Expert Corporate Governance Service (ECGS)

Publicis Groupe - AGM and EGM 29 May 2019

ITEM 10: The remunerations granted to Mr. Sadoun in 2018 are quite balanced and the amounts are reasonable. Despite certain breaches concerning the Company’s disclosure regarding the weightings of the EPS and TSR criteria for calculating the bonus, the bonus seems aligned with the Company’s performance. Furthermore, criteria for the exceptional performance share plan related to the strategic plan “Sprint to the Future” are quite demanding and, especially, there is no grant if performance is below the median (which was not the case for the previous plans). Accordingly, we recommend to approve. ...

Jehanne Leroy

Publicis Group - Assemblée générale des actionnaires du 29 mai 2019

GouvernanceLa société propose la nomination de 3 membres du conseil indépendants ; Cela porte le taux d’indépendance du conseil selon Proxinvest de 41,7% à 61,5% et nous accueillons favorablement ce changement. RémunérationsLes rémunérations 2018 de M. Sadoun sont plutôt équilibrées et les montants en jeu raisonnables. Par ailleurs, malgré certaines faiblesses en termes de communication, notamment la non communication des poids respectifs des critères de BPA et TSR dans le calcul du bonus, le bonus semble bien aligné avec les performances réalisées. De plus, les critères du plan de d’actions ...

Publicis Groupe – 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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