Randstad NV

Randstad is a global staffing and recruitment company, providing various solutions in the human resources (HR) services space. Co.'s services include regular temporary staffing and permanent placement of candidates. In addition, Co. provides several other HR solutions, such as Recruitment Process Outsourcing (RPO), Managed Services Programs (MSP), payroll services, and outplacement. Co. provides four distinct service concepts: Staffing, Inhouse Services, Professionals and HR Solutions.
  • TickerRAND
  • ISINNL0000379121
  • ExchangeEuronext Amsterdam
  • SectorSupport Services
  • CountryNetherlands
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Benelux Morning Notes

Adecco (Not Rated): 2Q20 results review; beat vs consensus. Euronav: 2Q20 results fine but uncertainty rising. Euronext: July shows mid-single digit YoY growth. Fagron: In-line 1H20, Covid-19 boost offsets weakening Compounding trends K. BC: Ups NII guidance (€4.4bn), maintains impairment outlook (€1.1bn). Kinepolis: Mulan Disney+ release another blow to Cinema chains . NN GROUP: Operating results, OCG and solvency beat . SBM Offshore: Good contracts supportive to 1H20. Sligro Food Group: Foodstep stats improving, but still a long way to go

Alan Vandenberghe ...
  • Bart Cuypers
  • Ruben Devos
  • Thomas Couvreur
  • Wim Hoste

Morning Note: AD NA, AKZA NA, KPN NA, RAND NA, VPK NA

Ahold Delhaize: Changes to pension plan flag strong underlying FCF Akzo Nobel: 2Q results surprise on divisional performances KPN: Acquires 75MHz of spectrum in 5G auction Randstad: 2Q20: surprisingly Corona resilient Vopak: $ 500m equivalent USPP placement

ING
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Benelux Morning Notes

Aalberts: A tumultuous first half of the year. ABN AMRO: CIB review outcome and impairments in focus. KBC: 2Q20 preview; expect 2020 guidance to be upheld. Marel: Preview - a volatile second quarter. Randstad: strong beat on 2Q20, strong FCF, comforting trends in Q2 and into Q3. Unilever: 1H results set to disappoint. Van Lanschot Kempen: In profit after 1Q20 loss -capital return in hands of the regulator

ING
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Benelux Morning Notes

Colruyt: Small data-mining venture. Econocom: Preliminary H1 update, closing the EBC sale reassuring. Randstad: preview 2Q20. Recticel: Divestments completed. Sligro: Guidance update

Expert Corporate Governance Service (ECGS)

Randstad – AGM 18 June 2020

electronic meeting only. Consequently, it will not be possible to attend the AGM in person.In general, Randstad is in compliance with the Dutch regulations relating to the organisation and procedures of the Annual General Meeting.Under ITEM 4a approval is sought for the Company's remuneration policy. The maximum variable compensation, corresponding to 350% of annual base salary (100% ST and 250% LT), is in excess of ECGS' guidelines. Accordingly, ECGS recommends to vote OPPOSE.Under ITEM 6a it is proposed to newly appoint Ms. Hélène Auriol Potier as Member of the supervisory board. Based on th...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish HR & Staffing Stocks

Int'l Human Resources & Employment Services Groups are bottoming -- add exposure Our international Human Resources & Employment Services Groups (SV-10, -11, and -12) are showing signs of price and RS bottoms throughout Japan, Europe, and the UK... see charts below. We believe short-term pullbacks in the names highlighted today should be bought, particularly in light of the Fed hinting at increased flexibility and the potential for improving trade headlines. Today we highlight our favorite setups within our int'l HR & Employment Services Groups: Recruit Holdings Co., Ltd. (6098-JP), PERSOL ...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Developed Markets Leadership Chart Book

Europe in focus The U.S. dollar continues to grind marginally higher, and EM equities have suffered as a result. Meanwhile, RS for the MSCI EAFE index is bottoming when compared to the MSCI EM index, largely due to outperformance in Europe. With developed int'l markets beginning to outperform emerging markets, we recommend adding exposure to the developed int'l space. Below we highlight attractive and actionable themes within developed int'l: • Europe & Japan: Though this is an all-encompassing bottoms-up chart book for developed ex-U.S., make no mistake, the vast majority of today's buy rec...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Opportunities in Europe, Japan As markets pull back amid the tariff saga we continue to believe this is an attractive time to add exposure. This view is supported by the technicals with all major global indexes (MSCI ACWI, ACWI ex-U.S., EAFE, and EM) pulling back to their respective 200-day moving averages... see charts below. • Actionable Sectors: Services and Consumer Staples in Europe and Japan. We often view the Services Sector as a defensive way to invest in Technology. We also highlight several Consumer Staples stocks within Europe (the STOXX 600 Food & Beverage index remains leadersh...

Jérôme VINERIER

Analyse court terme - RANDSTAD : La reprise est une consolidation.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 44,80 € prochainement. Le prochain objectif est à 40,84 €, puis 39,01 €. Le franchissement de 46,70 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - RANDSTAD : Rising consolidation.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €44.80. The next target is at €40.84, then €39.01. Passing €46.70 would question the continuation of the fall.

Randstad Holding N.V.: 1 director sold

A director at Randstad Holding N.V. sold 10,000 shares at 51.210EUR and the significance rating of the trade was 62/100. 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 rules. The names o...

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Benelux Morning Notes

Adecco (Not Rated): 2Q20 results review; beat vs consensus. Euronav: 2Q20 results fine but uncertainty rising. Euronext: July shows mid-single digit YoY growth. Fagron: In-line 1H20, Covid-19 boost offsets weakening Compounding trends K. BC: Ups NII guidance (€4.4bn), maintains impairment outlook (€1.1bn). Kinepolis: Mulan Disney+ release another blow to Cinema chains . NN GROUP: Operating results, OCG and solvency beat . SBM Offshore: Good contracts supportive to 1H20. Sligro Food Group: Foodstep stats improving, but still a long way to go

Alan Vandenberghe ...
  • Bart Cuypers
  • Ruben Devos
  • Thomas Couvreur
  • Wim Hoste

Morning Note: AD NA, AKZA NA, KPN NA, RAND NA, VPK NA

Ahold Delhaize: Changes to pension plan flag strong underlying FCF Akzo Nobel: 2Q results surprise on divisional performances KPN: Acquires 75MHz of spectrum in 5G auction Randstad: 2Q20: surprisingly Corona resilient Vopak: $ 500m equivalent USPP placement

ING
ING Helpdesk

Benelux Morning Notes

Aalberts: A tumultuous first half of the year. ABN AMRO: CIB review outcome and impairments in focus. KBC: 2Q20 preview; expect 2020 guidance to be upheld. Marel: Preview - a volatile second quarter. Randstad: strong beat on 2Q20, strong FCF, comforting trends in Q2 and into Q3. Unilever: 1H results set to disappoint. Van Lanschot Kempen: In profit after 1Q20 loss -capital return in hands of the regulator

ING
ING Helpdesk

Benelux Morning Notes

Colruyt: Small data-mining venture. Econocom: Preliminary H1 update, closing the EBC sale reassuring. Randstad: preview 2Q20. Recticel: Divestments completed. Sligro: Guidance update

ING
ING Helpdesk

Benelux Morning Notes

Ahold Delhaize: King Kullen acquisition called off. DSM: Shopping spree. Just Eat Takeaway: Acquires GrubHub in all-share deal. Kinepolis: highlights of virtual management roadshow. Staffing: French data - April trend shows full Covid impact, May outlook slightly better. Unilever: Re-unification

Alain William ...
  • Alfred Glaser
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Jean Sassus
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Pierre Tegner
  • Samantha Jeary
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/23/2020

We estimate that net current cash flow per share for the property companies we cover will be reduced on average by -11.3% in 2020e and -6.0% in 2021e. Retail property companies are likely to be hit the hardest while office and healthcare property groups should prove more resilient. Our Top Picks against this backdrop are Gecina and Colonial in office property, Cofinimmo in healthcare property and Klépierre in retail property. We downgrade Merlin Properties from Buy to Neutral. - ...

Alain William ...
  • Alfred Glaser
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Jean Sassus
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Pierre Tegner
  • Samantha Jeary
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 23/04/2020

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Alain William ...
  • Alfred Glaser
  • Delphine Brault
  • Emira Sagaama
  • Florent Laroche-Joubert

ODDO BHF Small & MIDCAP MORNING NEWS - 04/08/2020

While the collapse in our groups' activity is fairly uniform (-70% to -90%), we believe that the pace of recovery will be much faster for motorway concessions and construction than for airports. This is not reflected in share price performances. We are downgrading Fraport to Reduce (target price € 41) and we remain on Reduce for ADP (target price € 100). We prefer Vinci (€ 85) and Eiffage (€ 86). - Cf. report published today. - ...

Alfred Glaser ...
  • Delphine Brault
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Jerôme Bodin
  • Laurence Hofmann
  • Samantha Jeary

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/08/2020

A state of rational panic has overtaken the world and the real economy. Investors are envisaging a worst-case scenario, whereby businesses very survival is under threat. We have set this scenario to music. Over and above the temporary effect of the shutdown of the construction industry, the stimulus plans announced in many countries are unlikely to enable a return to the 2019 level in 2021. We prefer the groups with the most solid balance sheets. We have upgraded our recommendations f...

Alain William ...
  • Alfred Glaser
  • Delphine Brault
  • Emira Sagaama
  • Florent Laroche-Joubert

ODDO BHF Small & MIDCAP MORNING NEWS - 08/04/2020

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RANDSTAD NV sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of RANDSTAD NV (NL), a company active in the Business Training & Employment Agencies industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date May 22, 2020, the closing price was EUR 36.71 and its potential was estimated at EUR 43.16.

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)

Randstad – AGM 18 June 2020

electronic meeting only. Consequently, it will not be possible to attend the AGM in person.In general, Randstad is in compliance with the Dutch regulations relating to the organisation and procedures of the Annual General Meeting.Under ITEM 4a approval is sought for the Company's remuneration policy. The maximum variable compensation, corresponding to 350% of annual base salary (100% ST and 250% LT), is in excess of ECGS' guidelines. Accordingly, ECGS recommends to vote OPPOSE.Under ITEM 6a it is proposed to newly appoint Ms. Hélène Auriol Potier as Member of the supervisory board. Based on th...

Expert Corporate Governance Service (ECGS)

Randstad, March 26 2019

In general, Randstad is in compliance with the Dutch regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 5b, it is proposed to re-appoint Ms. Barbara Borra as Member of the supervisory board. Although Ms. Borra is considered independent, ECGS has concerns  over her aggregate time commitments. Ms. Borra is serving as CEO of Franke Kitchen  Systems (substantial non-listed company) and non-executive director of Brembo S.p.A. and Randstad N.V. (both listed), which exceeds ECGS' guidelines. Accordingly, ECGS recommends to vote OPPOSE. There are no fur...

Randstad – Proxinvest Corporate Governance Rating ® : B

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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