Eurazeo is a listed investment company in Europe. Co. invests in French or other European companies in which it can exercise influence. Co. divides its operaion in five divisions: Holding company, Eurazeo Capital, Eurazeo PME, Eurazeo Croissance, and Eurazeo Patrimoine. Holding company focuses on investment in non-consolidated fund business; Eurazeo Capital invests in companies valued over Euro150,000,000 to Euro200,000,000; Eurazeo PME invests in enterprises valued at less than Euro150,000,000 to Euro200,000,000; Eurazeo Croissance targets companies with high growth potential in promising markets; and Eurazeo Patrimoine groups Co.'s real estate asset management and investment activities.
  • TickerRF
  • ISINFR0000121121
  • ExchangeEuronext Paris
  • SectorFinancial Services
  • CountryFrance
Geoffroy Michalet

Eurazeo : Some additional elements – the discount is attractive

>Some key points - Following the conference call held by Eurazeo yesterday morning, we have the following main takeaways.On its ambitions in third-party asset managementThe group now has a team of 25 people focused on fund raising, which represents a substantial increase on the last few years (particularly with the integration of Idinvest). The team could expand a little further with some selective hires, particularly in some key geographic zones (47% of fun...

Geoffroy Michalet

Eurazeo : Quelques éléments complémentaires – la décote est attractive

>Des ambitions en gestion pour compte de tiers. Les moyens de soutenir les sociétés en portefeuille. Une NAV conservatrice - Suite à la conférence téléphonique tenue hier matin par Eurazeo, nous retiendrons principalement les éléments complémentaires suivants.Sur les ambitions en gestion d’actifs pour compte de tiers.Le groupe possède aujourd’hui une équipe de 25 personnes dédiées au fundraising, en augmentation substantielle ces dernières années (notamment...

Geoffroy Michalet

Eurazeo : H1 NAV: € 70.7, -12% vs end-2019, resilience from third party AM

>NAV: € 70.7, i.e. -12% - Eurazeo’s NAV per share came out at € 70.7, -12% versus the FY 2019 figure. NAV is described as having been stable for 90% of the scope in value terms (excluding the Travel & Leisure segment). LTV remained robust (i.e. negative) as Eurazeo has structurally no net debt on the balance sheet. The group has a net cash position of € 187m, capacity to draw an additional € 1.1bn and dry powder of € 4.0bn in its funds. Furthermore, economic EBI...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Europe & the UK remain in focus The MSCI ACWI ex-U.S. is breaking topside its nearly 14-month downtrend and above key resistance. The move is being fueled by improvements throughout most of Europe and the UK, along with strength in China over the past 2-3 months. We believe these positive developments are supportive of higher equity prices moving forward. As a result of these and several other observations highlighted below, our outlook on global equities is positive. • Europe & the UK. As has been the case over the last several weeks, a major focus of ours within global equities (ex-U.S.) h...

Jérôme VINERIER

Short term view - EURAZEO : 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 €65.20. The next target is at €60.99, then €59.00. Passing €69.20 would question the continuation of the fall.

Jérôme VINERIER

Analyse court terme - EURAZEO : 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 65,20 € prochainement. Le prochain objectif est à 60,99 €, puis 59,00 €. Le franchissement de 69,20 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - EURAZEO : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €60.99. The background trend would be questioned should prices rise above €69.20.

Jérôme VINERIER

Analyse court terme - EURAZEO : 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 60,99 €. La tendance de fond serait remise en cause en cas de franchissement de 69,20 €.

Eurazeo: 1 director bought

A director at Eurazeo bought 110,000 shares at 44.960EUR and the significance rating of the trade was 100/100. 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 of board me...

Geoffroy Michalet

Eurazeo : Some additional elements – the discount is attractive

>Some key points - Following the conference call held by Eurazeo yesterday morning, we have the following main takeaways.On its ambitions in third-party asset managementThe group now has a team of 25 people focused on fund raising, which represents a substantial increase on the last few years (particularly with the integration of Idinvest). The team could expand a little further with some selective hires, particularly in some key geographic zones (47% of fun...

Geoffroy Michalet

Eurazeo : Quelques éléments complémentaires – la décote est attractive

>Des ambitions en gestion pour compte de tiers. Les moyens de soutenir les sociétés en portefeuille. Une NAV conservatrice - Suite à la conférence téléphonique tenue hier matin par Eurazeo, nous retiendrons principalement les éléments complémentaires suivants.Sur les ambitions en gestion d’actifs pour compte de tiers.Le groupe possède aujourd’hui une équipe de 25 personnes dédiées au fundraising, en augmentation substantielle ces dernières années (notamment...

Geoffroy Michalet

Eurazeo : H1 NAV: € 70.7, -12% vs end-2019, resilience from third party AM

>NAV: € 70.7, i.e. -12% - Eurazeo’s NAV per share came out at € 70.7, -12% versus the FY 2019 figure. NAV is described as having been stable for 90% of the scope in value terms (excluding the Travel & Leisure segment). LTV remained robust (i.e. negative) as Eurazeo has structurally no net debt on the balance sheet. The group has a net cash position of € 187m, capacity to draw an additional € 1.1bn and dry powder of € 4.0bn in its funds. Furthermore, economic EBI...

Geoffroy Michalet

Eurazeo : ANR S1 : 70.7€, -12% vs fin 2019, la gestion pour compte de tiers démontre sa résilience

>ANR : 70.7 € soit -12% - Eurazeo publie un ANR à 70.7 € par action, en baisse de 12% par rapport au FY 2019. L’ANR est indiqué comme étant stable sur 90% du périmètre en valeur (hors segment Voyages et Loisirs). La LTV reste robuste (négative donc), Eurazeo n’ayant structurellement pas de dette nette au bilan. Le groupe dispose de 187 M€ de cash net, une capacité à tirer encore 1.1 Md€ et de la dry powder dans les fonds à hauteur de 4.0 Md€. En outre, la croiss...

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...

Alain William ...
  • Alexandre Iatrides
  • Christophe-Raphaël Ganet
  • Geoffroy Michalet
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Olfa Taamallah
  • Pierre Tegner
  • Sebastien Malafosse
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/19/2020

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EURAZEO SE sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of EURAZEO SE (FR), active in the Speciality Finance industry. As regards its fundamental valuation, the title now shows 3 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date June 12, 2020, the closing price was EUR 46.08 and its target price was estimated at EUR 33.37.

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...

Jehanne Leroy

Eurazéo - AGM 30 April 2020

Press release of 8/4/20 (/assets-eurazeo/uploads/2020/04/CP-AG-Solidarite-FR-VDEF.pdf): Dividend is cancelled. ITEM 13: Ms. Morgon's total compensation for 2019 is far too generous compared to her peers in the SBF 120 and MSCI Europe Financial Services sector. Moreover, the performance conditions of the performance shares granted in 2019 allow for vesting in the event of underperformance, which is not acceptable for a company of Eurazeo's size. We therefore do not support resolution 13. ITEM 10: It seems that the company has heard our criticism of these performance conditions since the executi...

Jehanne Leroy

Eurazéo - AG 30 Avril 2020

Communiqué du 8/4/20 () : - Annulation du dividende Rémunérations La rémunération totale de Mme Morgon pour 2019 est bien trop généreuse par rapport à ses pairs du SBF 120 et du secteur financier du MSCI Europe. Par ailleurs les conditions de performance des actions de performance attribuées en 2019 permettent l'acquisition en cas de sous-performance, ce qui n'est pas acceptable pour une société de l'envergure d'Eurazeo. Nous ne soutenons donc pas la résolution 13. Il semblerait que la société ait entendu nos critiques concernant ces conditions de performance puisque la politique de rémun...

Expert Corporate Governance Service (ECGS)

Eurazéo SE - AGM 25 April 2019

ITEM 7: the 2019 remuneration policy of Members of the Management Board does not comprise any significant change compared to the previous one. Thus, concerns raised in previous years are still relevant: LTI could still vest in case of underperformance and amounts that could be granted are still excessive. Thus, overall, this new remuneration policy is not satisfactory and we do not support it. ITEM 9: the company’s disclosure of remunerations granted to the Members of the Management Board is satisfactory, as well as the structure of their remuneration; however, LTI could still vest in case of...

Jehanne Leroy

Eureazeo - Assemblée générale des actionnaires du 25 avril 2019

RémunérationsLa communication de la société sur les rémunérations attribuées à ses dirigeants est bonne, et permet une bonne compréhension des montants du bonus attribués. Cependant, les conditions de performance de la rémunération long-terme permettent l’acquisition en cas de sous-performance, ce qui n’est pas acceptable pour une société de l’envergure d’Eurazeo. Par ailleurs, les montants attribués à Mme Morgon (dont 22% sont une prime d’expatriation) sont excessifs. Aussi, nous ne soutenons pas la rémunération 9. Concernant les autres membres du Directoire, les montants qui leur ont été att...

Eurazéo – 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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