Compagnie de Saint-Gobain S.A.

Compagnie de Saint-Gobain manufactures, produces, and distributes industrial materials. Co.'s activities are divided into four sectors: Innovative Materials (Co. makes, processes and sells glass and glazing products for the building, the automotive and solar energy industries; Co. also manufactures Ceramics and Plastics, Abrasives, and Textiles), Construction Products (Co. offers products for the Insulation, Gypsum, Exterior Products, Pipe and Industrial Mortars), Building Distribution (Co. distributes building materials (plumbing, heating and sanitaryware products) and ceramic tiles), and Packaging - Verallia (Co. manufactures glass containers and jars for foodstuffs and beverages).
  • TickerSGO
  • ISINFR0000125007
  • ExchangeEuronext Paris
  • SectorConstruction & Materials
  • CountryFrance
Ahmed Ben Salem ...
  • Louis Boujard, CFA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10 Dear clients, We are very pleased to officially announce a partnership agreement between our group and BBVA in equity brokerage. In adding a new domestic market to its platform, ODDO BHF is looking t

With 40% upside, Eiffage is our Top Pick in the construction/concessions sector: whilst the contracting business should prove resilient thanks to alternative growth drivers (the “France Relance” stimulus plan in particular) and leverage on margins, cash flow generation (+35% estimated between 2019 and 2022) will be supported by higher dividends from motorway concessions. The group has 15 years to find an alternative to APRR and we have already identified numerous potential M&A possibi...

Ahmed Ben Salem ...
  • Louis Boujard, CFA

Total : Chers clients, Nous sommes très heureux de vous annoncer l’officialisation d’un accord de partenariat entre notre Groupe et BBVA dans les métiers de l’intermédiation actions. En ajoutant un nouveau marché domestique à sa plateforme, ODDO BHF souha

Avec 40% de potentiel, Eiffage est notre valeur préférée dans le secteur construction / concessions : alors que l’activité Travaux devrait s’avérer résiliente grâce aux relais de croissance (France Relance notamment) et au levier sur les marges, la génération de cash-flow (+35%e entre 2019 et 2022) va être soutenue par la hausse des dividendes des concessions autoroutières. Le groupe dispose de 15 ans pour trouver une alternative à APRR avec d’ores et déjà de nombreuses opportunités d...

Sven Edelfelt ...
  • Virginie Rousseau

Saint-Gobain : A good quarter driven by the strength of the recovery

>Q3 2020 sales: a very positive surprise in prospect - Q3 2020 sales, on 29 October after the market close and the conference call at 6.30p.m. CET (+33 (0) 1 72 72 74 03 followed by the code 84352912#). We think that the trends unveiled by the group at end June have broadly continued in Q3. Recap on the trends: HPS: June at -8.2% and -27% in Q2, northern Europe, June at +4.9% and -15.6% in Q2, southern Europe: +7% in June, i.e. -22.7% in Q2, Americas: +6.7% in June an...

Sven Edelfelt ...
  • Virginie Rousseau

Saint-Gobain : Un bon trimestre porté par la vigueur de la reprise

>CA T3 2020 : vers une bonne surprise - Chiffre d’affaires T3 2020 le 29/10 après clôture et conférence téléphonique à 18h30 CET (+33 (0) 1 72 72 74 03 suivi du code 84352912#). Nous pensons que les tendances dévoilées par le groupe à fin juin ont globalement perduré lors du T3. Rappel des tendances : SHP : juin à -8.2% et -27% au T2 ; Europe du Nord ; juin à +4.9% et -15.6% au T2 ; Europe du Sud : +7% en juin et -22.7% au T2 ; Amériques : +6.7% en juin et -11.9% au T...

Moody's announces completion of a periodic review of ratings of Compagnie de Saint-Gobain SA

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Compagnie de Saint-Gobain SA. Global Credit Research- 28 Sep 2020. Frankfurt am Main, September 28, 2020-- Moody's Investors Service has completed a periodic review of the ratings of Compagnie de Saint-Gobain SA and other ratings that are associated with the same analytical unit.

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Global equities consolidating We remain constructive on global equities as the MSCI ACWI, ACWI ex-U.S., and EAFE indexes consolidate above their respective 200-day moving averages. On the other hand, the MSCI EM index is breaking below its 200-day moving average and is flirting with a breakdown below 56,000 support (local currency). Weakness within EM raises concerns that global equities may also succumb to weakness... see charts below. • Global equities consolidating. We take a look at the big picture, providing overviews on broad MSCI indexes (ACWI, ACWI ex-U.S., and EAFE)... see page 2...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Add exposure to cyclicals Our positive outlook on global equities (both the MSCI ACWI and ACWI ex-US) remains intact and we believe a “buy the dip” strategy is warranted. We recommend taking advantage of recent weakness -- where applicable -- by adding exposure to cyclical Sectors. • Actionable Sectors: Consumer Discretionary and Manufacturing. Today's recommendations focus on autos, auto parts, and machinery which span the Discretionary and Manufacturing Sectors. We initially recommended adding exposure to autos and auto parts in our 3/14/19 Int'l Compass, and we view the recent mild...

Jérôme VINERIER

Short term view - COMPAGNIE DE SAINT GOBAIN 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 €30.400. The background trend would be questioned should prices rise above €39.022.

Jérôme VINERIER

Analyse court terme - COMPAGNIE DE SAINT GOBAIN 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 30,400 €. La tendance de fond serait remise en cause en cas de franchissement de 39,022 €.

Jérôme VINERIER

Short term view - COMPAGNIE DE SAINT GOBAIN SA : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €30.400. The background trend would be questioned should prices rise above €39.022.

Sven Edelfelt ...
  • Virginie Rousseau

Saint-Gobain : A good quarter driven by the strength of the recovery

>Q3 2020 sales: a very positive surprise in prospect - Q3 2020 sales, on 29 October after the market close and the conference call at 6.30p.m. CET (+33 (0) 1 72 72 74 03 followed by the code 84352912#). We think that the trends unveiled by the group at end June have broadly continued in Q3. Recap on the trends: HPS: June at -8.2% and -27% in Q2, northern Europe, June at +4.9% and -15.6% in Q2, southern Europe: +7% in June, i.e. -22.7% in Q2, Americas: +6.7% in June an...

Sven Edelfelt ...
  • Virginie Rousseau

Saint-Gobain : Un bon trimestre porté par la vigueur de la reprise

>CA T3 2020 : vers une bonne surprise - Chiffre d’affaires T3 2020 le 29/10 après clôture et conférence téléphonique à 18h30 CET (+33 (0) 1 72 72 74 03 suivi du code 84352912#). Nous pensons que les tendances dévoilées par le groupe à fin juin ont globalement perduré lors du T3. Rappel des tendances : SHP : juin à -8.2% et -27% au T2 ; Europe du Nord ; juin à +4.9% et -15.6% au T2 ; Europe du Sud : +7% en juin et -22.7% au T2 ; Amériques : +6.7% en juin et -11.9% au T...

Sven Edelfelt ...
  • Virginie Rousseau

Saint-Gobain : Renovation stimulus plan à la Française to come into effect from October

>Interview with housing minister - In an interview with the housing minister in the Journal de Dimanche, Emmanuelle Wargon said that € 2bn in 2021 and 2022 will be allocated for housing in the private sector and € 0.5bn for social housing, of the € 6.7bn of funding in the stimulus plan earmarked for energy renovation. According to the minister, the € 2bn allocated for thermal renovation in private housing will generate € 6bn of work (taking account of the share paid b...

Sven Edelfelt ...
  • Virginie Rousseau

Saint-Gobain : Le plan de relance rénovation à la Française en place à partir d’octobre

>Interview de la ministre du logement - Dans un interview de la ministre du logement dans le JDD, Emmanuelle Wargon explique que 2 Md€ en 2021 et 2022 seront alloués pour les logements du parc privé et 0,5 Md€ pour les logements sociaux sur les 6,7 Md€ du plan de relance consacrés à la rénovation énergétique. Selon la ministre, les 2 Md€ alloués à la rénovation thermique des logements privés généreront 6 Md€ de travaux (en comptabilisant la part payée par les privés) ...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Bulls Lose The Upper Hand, Consolidation Likely Steep uptrends have been violated this week on several of the broad global indexes (notably the MSCI ACWI, ACWI ex-US, and EM indexes). As a result we are making a tactical shift to a neutral outlook as we believe consolidation is likely near-term as the market goes through a corrective phase -- potentially something similar to what the market experienced between June and early-July. · Index Overviews. As noted above, short-term uptrends have been violated for the MSCI ACWI, ACWI ex-US, and EM indexes, prompting our shift from bullish ...

Expert Corporate Governance Service (ECGS)

Saint Gobain – AGM 4 june 2020

ITEMS 11 and 12: In March 2020, the Chairman and CEO and the Deputy CEO informed the Board of Directors of their decision to waive 25% of their fixed compensation for 2020 and 25% of their variable compensation for 2019 for the period during which Group employees will be in partial employment due to the current health crisis. While it is regrettable that it is not clear how much the executives are giving up, this gesture is positively welcomed.   Thus, the company is not proposing any negative change to the compensation policies of its executives; we therefore support them. of its executives...

Jehanne Leroy

Compagnie de Saint-Gobain - Assemblée générale des actionnaires du 4 juin 2020

RémunérationsEn mars 2020, les dirigeants ont fait part au Conseil d’administration de leur décision de renoncer à 25 % de leur rémunération fixe pour 2020 et à 25 % de leur rémunération variable au titre de 2019 pour la durée durant laquelle des salariés du Groupe se trouveront en situation d’activité partielle suite à la crise sanitaire actuelle. Si l’on regrette ne pas pouvoir clairement établir la somme à laquelle les dirigeants renoncent, ce geste est positivement accueilli.Ainsi, la société ne propose pas de changement négatif à la politique de rémunération de ses dirigeants ; nous les s...

Jehanne Leroy

Saint-Gobain - Assemblée générale des actionnaires du 06 juin 2019

La société a nommé, au 1er janvier 2019, Benoit Bazin comme Directeur général Délégué. Elle propose donc aux actionnaires d’approuver la politique de rémunération de ce nouveau mandataire pour 2019, ainsi que ses avantages postérieurs à l’emploi. Globalement, la politique de rémunération du DGD présente une structure plus en ligne avec nos préconisations que celle du PDG et les montants en jeu sont bien plus modérés. Ainsi, nous soutenons cette politique de rémunération. Concernant ses avantages postérieurs à l’emploi, si les indemnités de départ et clause de non-concurrence ne satisfont pas ...

Expert Corporate Governance Service (ECGS)

Saint Gobain - AGM and EGM 06 June 2019

ITEM 10: Benoit Bazin was designated Deputy CEO as of 1 January 2019. The company proposes therefore to approve its 2019 remuneration policy, as well as its post-employments benefits. Overall, his remuneration policy structure is more in line with our recommendations and amounts at stake are more moderate than the CEO’s. Thus we support it. Regarding his post-employments benefits, his severance indemnity and non-compete clause do not respect our Guidelines. However, his supplementary pension plan does. Thus, we support Item 12.

Saint-Gobain – 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...

Moody's announces completion of a periodic review of ratings of Compagnie de Saint-Gobain SA

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Compagnie de Saint-Gobain SA. Global Credit Research- 28 Sep 2020. Frankfurt am Main, September 28, 2020-- Moody's Investors Service has completed a periodic review of the ratings of Compagnie de Saint-Gobain SA and other ratings that are associated with the same analytical unit.

Compagnie de Saint-Gobain SA - June 2020 (LTM): Peer Snapshot

Peer Snapshot:  Compagnie de Saint-Gobain SA - June 2020 (LTM) 9 September 2020 (in US millions) FYE Dec-18 FYE Dec-19 LTM Jun-20 FYE Dec-18 FYE Dec-19 LTM Jun-20 FYE Dec-18 FYE Dec-19 LTM Jun-20

Compagnie de Saint-Gobain SA: Key Facts and Statistics - Q1 March 2020

A summary company profile, detailing Compagnie de Saint-Gobain’s business operations and financial highlights.

Compagnie de Saint-Gobain : Sale of Sika shares will improve credit metrics and liquidity, a credit positive

The sale of Sika shares improves Saint-Gobain's flexibility in highly a uncertain market environment

Compagnie de Saint-Gobain : Update to credit analysis

Our credit view of Saint-Gobain, reflecting its good performance in 2019, as well as its highly uncertain outlook for 2020-21.

Ahmed Ben Salem ...
  • Louis Boujard, CFA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10 Dear clients, We are very pleased to officially announce a partnership agreement between our group and BBVA in equity brokerage. In adding a new domestic market to its platform, ODDO BHF is looking t

With 40% upside, Eiffage is our Top Pick in the construction/concessions sector: whilst the contracting business should prove resilient thanks to alternative growth drivers (the “France Relance” stimulus plan in particular) and leverage on margins, cash flow generation (+35% estimated between 2019 and 2022) will be supported by higher dividends from motorway concessions. The group has 15 years to find an alternative to APRR and we have already identified numerous potential M&A possibi...

Ahmed Ben Salem ...
  • Louis Boujard, CFA

Total : Chers clients, Nous sommes très heureux de vous annoncer l’officialisation d’un accord de partenariat entre notre Groupe et BBVA dans les métiers de l’intermédiation actions. En ajoutant un nouveau marché domestique à sa plateforme, ODDO BHF souha

Avec 40% de potentiel, Eiffage est notre valeur préférée dans le secteur construction / concessions : alors que l’activité Travaux devrait s’avérer résiliente grâce aux relais de croissance (France Relance notamment) et au levier sur les marges, la génération de cash-flow (+35%e entre 2019 et 2022) va être soutenue par la hausse des dividendes des concessions autoroutières. Le groupe dispose de 15 ans pour trouver une alternative à APRR avec d’ores et déjà de nombreuses opportunités d...

Bruno Cavalier ...
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/28/2020

If one takes a pessimistic view of developments in the pandemic, considering a tactical “pause” in exposure to cyclicals may make sense. A temporary reduction in this position could be used to fund purchases of protection against an electoral outcome that takes time to become clear in the US, via, for example, building a long position on VIX/V2X contracts beyond the November maturity. But be careful, this reduction should be temporary! Neither the current epidemic nor the suspense ove...

Bruno Cavalier ...
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 28/09/2020

Si on souscrit à une vision pessimiste de l’évolution épidémique il n’est pas absurde de considérer une « pause » tactique à l’exposition cyclique. La réduction temporaire de cette position pourrait être utilisée pour financer l’achat de protection contre une issue électorale longue à se dessiner aux Etats-Unis, via, par ex, la constitution d’une position longue sur des contrats VIX/V2X au-delà de l’échéance de novembre. Mais attention, cette réduction doit être temporaire ! Ni l’épis...

Bruno Cavalier ...
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/03/2020

...

SAINT GOBAIN sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of SAINT GOBAIN (FR), active in the Building Materials & Fixtures 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 July 31, 2020, the closing price was EUR 31.17 and its target price was estimated at EUR 24.13.

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...

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