Ryanair Holdings PLC

Ryanair Holdings is a holding company. Through its subsidiaries, Co. operates an ultra-low cost, scheduled-passenger airline serving short-haul, point-to-point routes between Ireland, the U.K., Continental Europe, and Morocco. Co. offers over 2,000 scheduled short-haul flights per day serving approximately 210 airports throughout Europe, and flying approximately 1,600 routes. In addition, Co. provides various ancillary services and engages in other activities connected with its core air passenger service, including non-flight scheduled services, Internet-related services, and the in-flight sale of beverages, food, and merchandise.
  • TickerRY4C
  • ISINIE00BYTBXV33
  • ExchangeIrish Stock Exchange
  • SectorTravel & Leisure
  • CountryIreland
Emmanuel Matot ...
  • Tony Lebon

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/04/2020

Discussions are underway to devise a methodology that factors in CO2 emissions avoided thanks to insulation products in a possible scope 4. Saint-Gobain harbours greater avoided emissions potential than its rivals, which we value at € 8 per share. In the shorter term, the group is likely to announce an exceptional dividend (Q3), appoint Benoit Bazin as CEO (H1 2021) and revive its underperforming asset divestment programme (2021). (See report published yesterday) - ...

Emmanuel Matot ...
  • Tony Lebon

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 04/09/2020

Des discussions seraient en cours pour définir une méthodologie intégrant les émissions de CO2 évitées par les produits isolants dans un possible scope 4. Saint-Gobain dispose d’un potentiel supérieur à celui de ses concurrents. Nous l’évaluons à 8 € par action. A plus court terme, le groupe devrait annoncer un dividende exceptionnel (T3), nommer Benoit Bazin au poste de CEO (S1 2021) et relancer son programme de cessions d’actifs sous-performants (2021). (Cf étude publiée hier) - ...

Olfa Taamallah ...
  • Yan Derocles

Ryanair : Successful placement of € 400m with a limited share discount

>Successful placement of € 400m among investors with a 3.2% discount - Following yesterday’s announcement, Ryanair announced this morning the successful placing of a total of 35,242,291 new ordinary shares at a price of €11.35 per share, raising gross proceeds of approximately € 400m. The placing shares represent approximately 3.2% of the company's issued share capital immediately prior to the placing. The placing price represents a discount of approximately 2.6...

Olfa Taamallah ...
  • Yan Derocles

Ryanair : Successful placement of € 400m with a limited share discount

>Successful placement of € 400m among investors with a 3.2% discount - Following yesterday’s announcement, Ryanair announced this morning the successful placing of a total of 35,242,291 new ordinary shares at a price of €11.35 per share, raising gross proceeds of approximately € 400m. The placing shares represent approximately 3.2% of the company's issued share capital immediately prior to the placing. The placing price represents a discount of approximately 2.6...

Thanks to a better fundamental star rating, RYANAIR HOLDINGS sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to RYANAIR HOLDINGS (IE), active in the Airlines 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 July 28, 2020, the closing price was EUR 11.20 and its expected value was estimated at EUR 10.86.

Matthieu DRIOL

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

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 €12.095. The next target is at €10.896, then €10.400. Passing €14.600 would question the continuation of the fall.

Matthieu DRIOL

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

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 12,095 € prochainement. Le prochain objectif est à 10,896 €, puis 10,400 €. Le franchissement de 14,600 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Short term view - RYANAIR HOLDINGS : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €10.896. The background trend would be questioned should prices rise above €14.600.

Matthieu DRIOL

Analyse court terme - RYANAIR HOLDINGS : 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 10,896 €. La tendance de fond serait remise en cause en cas de franchissement de 14,600 €.

Jérôme VINERIER

Medium term view - RYANAIR HOLDINGS : The movement goes on.

The trend is bearish. The movement goes on. The next target is at €10.90, then €7.60. Passing €17.00 would question the continuation of the fall.

Olfa Taamallah ...
  • Yan Derocles

Ryanair : Successful placement of € 400m with a limited share discount

>Successful placement of € 400m among investors with a 3.2% discount - Following yesterday’s announcement, Ryanair announced this morning the successful placing of a total of 35,242,291 new ordinary shares at a price of €11.35 per share, raising gross proceeds of approximately € 400m. The placing shares represent approximately 3.2% of the company's issued share capital immediately prior to the placing. The placing price represents a discount of approximately 2.6...

Olfa Taamallah ...
  • Yan Derocles

Ryanair : Successful placement of € 400m with a limited share discount

>Successful placement of € 400m among investors with a 3.2% discount - Following yesterday’s announcement, Ryanair announced this morning the successful placing of a total of 35,242,291 new ordinary shares at a price of €11.35 per share, raising gross proceeds of approximately € 400m. The placing shares represent approximately 3.2% of the company's issued share capital immediately prior to the placing. The placing price represents a discount of approximately 2.6...

Olfa Taamallah ...
  • Yan Derocles

Ryanair : A lack of visibility but the stance is reassuring

>Q1 2020-21 slightly better than expected - Ryanair's Q1 2020-21 figures (to end-June), reported yesterday, slightly beat consensus expectations, with a net loss of € 185m vs -€ 232m for the consensus (vs a net result of € 243m for the previous year), on sales down 95% at € 125m (including revenue from unused tickets). FCF consumption came in at -€ 484.6m, with -€ 137.4m of capex As expected, Ryanair is not giving detailed guidance for FY 2020-21 but it anticipat...

Olfa Taamallah ...
  • Yan Derocles

Ryanair : Manque de visibilité mais discours rassurant

>Un T1 légèrement au-dessus des attentes - Ryanair a publié hier un T1 à fin juin 2020 légèrement au-dessus des attentes du consensus avec une perte nette de 185 M€ vs -232 M€ pour le consensus (contre un résultat net de 243 M€ une année auparavant) pour un CA en recul de 95% à 125 M€ (y compris recettes liées aux billets non utilisés). La consommation de FCF s'est élevée à -484.6 M€ dont -137.4 M€ de Capex. Sans surprise, Ryanair ne donne pas de guidanc...

Olfa Taamallah ...
  • Yan Derocles

Ryanair : A slightly-better-than-expected release - not much details on guidance

>Q1 2020-21 slightly ahead of estimates - Ryanair has just published Q1 2020-21 results above expectations with a net loss of -€ 185m (Oddo BHF: -€ 268m, consensus -€ 232m) vs € 243m net income in FY 2019-20. Main points to highlight: Revenue fell by 95% (almost € 2.2bn) to just € 125m o/w ancillary revenues decreased by 97% to € 24.5m as traffic dropped 99% at just 0.5m.Load factor was down 35pts to 61% vs 96% in Q1 2019-20.An 85% reduction in costs d...

Delphine Chauvin

Air France-KLM : Le secteur a besoin d’être réanimé

L’IATA estime que le Covid-19 va faire perdre plus de 300 mds USD de revenus au transport aérien en 2020 et il est évident que les compagnies européennes font face à une crise d’une violence difficilement imaginable il y a quelques mois, sans commune mesure avec l’impact du SRAS en 2003 ou de la crise financière en 2008, pour lesquelles elles avaient déjà mis plusieurs années à se remettre. - Sans aides, plusieurs d’entre elles risquent la faillite, et même les plus solides prédis...

Delphine Chauvin

Air France-KLM : The sector needs reviving

With the IATA estimating that Covid-19 will result in more than $ 300bn of lost revenues for the air transport sector in 2020, European airlines clearly face a crisis of a severity hard to imagine a few months ago, far surpassing the impacts of SARS in 2003 or the financial crisis in 2008, which took them several years to recover from. - Without aid, several of them are at risk of going out of business, and even the most solid carriers forecast unprecedented cash burn. - There are a...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 13/01/2020 - Industrie Pharmaceutique

Pharma: Une première opération d’acquisition en 2020 pour Eli Lilly BBVA (Achat) : Emission d'€1md de titres Tier 2 à 2030 avec un coupon de 1% Atlantia (Conserver) : Envisage une cession de 49% de Telepass, le processus de révocation des concessions autoroutière est ralenti Ryanair (Conserver) : Revoit à la hausse sa prévision de RN pour 2020, compris entre €950m à €1,05 md Jaguar Land Rover (Vente) : Vente de 557.706 voitures en 2019 (-5,9%) Casino (Achat souches courtes, Conserver souches longues) : Envisage de céder son enseigne Leader Price à...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 04/11/2019 - Fiat Chrystler Automobiles - EN

TP ICAP - Europe - Morning CreditUpdate 04/11/2019 - Fiat Chrystler Automobiles - EN

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 04/11/2019 - Fiat Chrystler Automobiles - Fr

Fiat Chrysler Automobiles (Achat) : Confirme ses objectifs avant la fusion avec PSA ING (Achat) - 9M-19 : PNB de €13,9 mds (+2,1%) Lloyds Banking Group (Vente) - 9M-19 : RN de $2,0mds (-46,9%) Ryanair (Conserver) - S1/19-20 : Résultat opérationnel de €1,3md (-1%) Metro (Vente) : EP Global Commerce (EPGC) prévoit d’augmenter sa participation à ~30% Repsol (Achat) - 9M-19 : Résultat opérationnel de €2,9 mds (-6,5%) IAG (Achat) : Rachète la compagnie espagnole Air Europa pour €1 md Bombardier (Achat) : Cession de ses activités aérost...

Emmanuel Matot ...
  • Tony Lebon

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/04/2020

Discussions are underway to devise a methodology that factors in CO2 emissions avoided thanks to insulation products in a possible scope 4. Saint-Gobain harbours greater avoided emissions potential than its rivals, which we value at € 8 per share. In the shorter term, the group is likely to announce an exceptional dividend (Q3), appoint Benoit Bazin as CEO (H1 2021) and revive its underperforming asset divestment programme (2021). (See report published yesterday) - ...

Emmanuel Matot ...
  • Tony Lebon

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 04/09/2020

Des discussions seraient en cours pour définir une méthodologie intégrant les émissions de CO2 évitées par les produits isolants dans un possible scope 4. Saint-Gobain dispose d’un potentiel supérieur à celui de ses concurrents. Nous l’évaluons à 8 € par action. A plus court terme, le groupe devrait annoncer un dividende exceptionnel (T3), nommer Benoit Bazin au poste de CEO (S1 2021) et relancer son programme de cessions d’actifs sous-performants (2021). (Cf étude publiée hier) - ...

Jean Sassus ...
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 28/07/2020

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Bruno Cavalier ...
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/27/2020

After years of unrealised €/$ bullish forecasts the single currency is finally on an upward trajectory. This change of course reflects a radical shift in the perception of the political risk associated with the European Union. The starting point for the rise (17 May) corresponds, moreover to the Franco-German announcement of the stimulus plan project. The European agreement of 21 July to begin the implementation process argues in favour, in a context of an upturn in PMIs, in favour of...

Thanks to a better fundamental star rating, RYANAIR HOLDINGS sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to RYANAIR HOLDINGS (IE), active in the Airlines 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 July 28, 2020, the closing price was EUR 11.20 and its expected value was estimated at EUR 10.86.

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)

Ryanair Holdings - AGM 19 September 2019

Hard Brexit Loss of Voting Rights The Company provides that in the event of a hard or no-deal Brexit, UK shareholders will lose the voting rights of their shares, as the Company must be controlled by EU shareholders at all times to comply with its licences. In the meantime, the Company has applied for a UK Air Operator Certificate which it received in December 2018. Depending on the outcome of Brexit negotiations, there may be no flights, for an unknown period, between the UK and the EU. This may lead to the Company temporarily relocating its UK based aircraft (approximately 22% of its curren...

Rayanair Holdings PLC – Proxinvest Corporate Governance Rating ® : D

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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