Sacyr is the parent company of a group engaged in the acquisition, development and construction of urban properties for their subsequent rental or resale. Co. primarily leases and sells office buildings and complexes, housing units, and shopping centers. Co. is also engaged in the operation of urban car parking facilities. Co. offers services related to the real estate industry such as technical assistance in energy savings, inventory management, architectural design, telecommunications management, property maintenance, as well as gardening and landscaping. Co. also provides consulting services in the real estate fund management sector.
  • TickerSYV
  • ISINES0182870214
  • ExchangeMadrid Stock Exchange
  • SectorConstruction & Materials
  • CountrySpain

Sacyr S.A.: 1 director bought

A director at Sacyr S.A. bought 30,000 shares at 1.870EUR and the significance rating of the trade was 56/100. 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...

Research Department

IBERIAN DAILY 12 JUNE (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: BANKING SECTOR, CELLNEX, CHANGES IBEX ENDESA, FCC, MASMOVIL, RED ELÉCTRICA, SACYR. MARKETS YESTERDAY AND TODAY Profit taking after the Fed Sharp falls in European markets >-4% dragged down by the Fed’s dovish stance and fears about a second round of contagion mainly in the US following the recent rallies. In the Euro STOXX, all sectors ended in negative territory, with Consumer Goods and Pharma being the best performers vs. Automobiles and Banks that saw the biggest losses. On the macroeconomic level, in Italy, April’s industrial output fell more than expected to -42.5% YoY. In...

Research Department

INFORME DIARIO 12 JUNIO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: AEDAS, CELLNEX, ENDESA, FCC, MASMOVIL, RED ELÉCTRICA, SACYR, SECTOR BANCOS. EUROPA: INTESA, SAFRAN, UNILEVER. Toma de beneficios de los mercados tras la Fed Caídas pronunciadas en los mercados europeos por encima del -4% lastradas por la visión muy dovish de la Fed y los miedos a una segunda oleada de contagios sobre todo en EE.UU. tras los fuertes rebotes recientes. Dentro del Euro STOXX todos los sectores cerraron con pérdidas, con Bienes de Consumo y Farma mostrando el mejor comportamiento relativo frente a Autos y Bancos que sufrieron las may...

Expert Corporate Governance Service (ECGS)

Sacyr – AGM 10 june 2020

It is proposed to re-elect two proprietary Directors in items 6.1 and 6.2, as well as to ratify the appointment of Mr. Luis Javier Cortés Dominguez as other external Director in item 6.3. ECGS has concerns over the lack of independence on the Board (46.2%), therefore we recommend that shareholders oppose these resolutions.   In item 7, shareholders are called for an advisory vote on the 2019 Directors'Annual Remuneration Report. Concerns may arise over the excessive power of the Board to increase all of the Chairman-CEO's remuneration components at their discretion, in particular his bonus a...

Ignacio Romero

SACYR: MENSAJES DE LA CONFERENCE CALL RDOS. 1T’20 (ANÁLISIS BANCO SABADELL)

Los principales mensajes de la conference call:  Posición de liquidez. En las últimas semanas han aumentado las disponibilidades en 300 M euros. Sus previsiones para 2020 muestran disponibilidad de liquidez sin tensiones, tienen cubiertos los vencimientos de este año. La subida de deuda con recurso se debe a un tema estacional (1T suele ser el peor del año).  Política de dividendos. El scrip dividend (anunciado pero todavía no aprobado en JGA) quedará supeditado a la situación de la crisis de manera que en vez de proceder a su ejecución en julio (como se hizo el año pasado) tomarán una deci...

Research Department

BANCO SABADELL RECOMMENDED PORTFOLIO WEEK 23 TO 30 OCTOBER 2019 (ANÁLISIS BANCO SABADELL)

European Portfolio We lower Volkswagen’s weight and raise that of Airbus. European High Yield Portfolio Air Liquide, Allianz, Daimler, SAP & Vivendi No changes this week. Spanish Recommended Portfolio No changes this week. 5-Stock Recommended Portfolio ACS, Caixabank, Cellnex, Ferrovial & Telefónica No changes this week. 5 High-Yield Stock Portfolio Iberdrola, Merlin, Repsol, Santander & Telefónica No changes this week. Mid&Small Recommended Portfolio Applus, CAF, Dominion, Enagás, Ence, Indra, Logista, Másmóvil, Sacyr & Unicaja No changes this week.

Research Department

BANCO SABADELL RECOMMENDED PORTFOLIO WEEK 06 TO 13 MARCH 2019 (ANÁLISIS BANCO SABADELL)

BANCO SABADELL RECOMMENDED PORTFOLIO WEEK 06 TO 13 MARCH 2019 (ANÁLISIS BANCO SABADELL)

Research Department

CAMBIO DE CARTERAS BANCO SABADELL SEMANA 06 A 13 MARZO 2019 (ANÁLISIS BANCO SABADELL)

CAMBIO DE CARTERAS BANCO SABADELL SEMANA 06 A 13 MARZO 2019 (ANÁLISIS BANCO SABADELL)

Research Department

BANCO SABADELL RECOMMENDED PORTFOLIO WEEK 27 FEBRUARY TO 06 MARCH 2019 (ANÁLISIS BANCO SABADELL)

BANCO SABADELL RECOMMENDED PORTFOLIO WEEK 27 FEBRUARY TO 06 MARCH 2019 (ANÁLISIS BANCO SABADELL)

Research Department

CAMBIO DE CARTERAS BANCO SABADELL SEMANA 27 FEBRERO A 06 MARZO 2019 (ANÁLISIS BANCO SABADELL)

CAMBIO DE CARTERAS BANCO SABADELL SEMANA 27 FEBRERO A 06 MARZO 2019 (ANÁLISIS BANCO SABADELL)

Louis-Clément AZAIS d'UHART

Short term view - SACYR SA : The ascending support has been reached, it causes the bounce.

The trend remains neutral. Prices will have to break above the peak at €2.459 for the trend to be positive again with an invalidation level below €2.238.Arguments :- The ascending support has been reached, it causes the bounce.- The moving average is supporting prices.

Louis-Clément AZAIS d'UHART

Analyse court terme - SACYR SA : Le support ascendant est atteint, il cause le rebond.

La tendance est toujours neutre. Il faut franchir le sommet à 2,459 € pour que la tendance devienne positive avec une invalidation sous 2,238 €.Arguments :- Le support ascendant est atteint, il cause le rebond.- La moyenne mobile sert de support.

Matthieu DRIOL

Analyse moyen terme - SACYR SA : La moyenne mobile sert de support.

La tendance est toujours haussière, mais elle pourrait ralentir. Les indicateurs sont surachetés. Le prochain objectif est à 3,500 € Le niveau d'invalidation est sous 1,900 €.Arguments :- La résistance est proche.- La moyenne mobile sert de support.

Matthieu DRIOL

Medium term view - SACYR SA : The moving average is supporting prices.

The trend is still bullish, but it could slow down. Indicators are overbought. The next target is at €3.500. The invalidation level is below €1.900.Arguments :- The resistance is close.- The moving average is supporting prices.

Louis-Clément AZAIS d'UHART

Short term view - SACYR SA : The major resistance has been breached.

In our previous short term analysis (24/08/2016), we were positive. We remain positive with a target at 2,6 € and an invalidation level at 2,29 €. The bullish trend unfolds. Arguments : - The major resistance has been breached.

Sacyr S.A.: 1 director bought

A director at Sacyr S.A. bought 30,000 shares at 1.870EUR and the significance rating of the trade was 56/100. 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...

Research Department

IBERIAN DAILY 12 JUNE (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: BANKING SECTOR, CELLNEX, CHANGES IBEX ENDESA, FCC, MASMOVIL, RED ELÉCTRICA, SACYR. MARKETS YESTERDAY AND TODAY Profit taking after the Fed Sharp falls in European markets >-4% dragged down by the Fed’s dovish stance and fears about a second round of contagion mainly in the US following the recent rallies. In the Euro STOXX, all sectors ended in negative territory, with Consumer Goods and Pharma being the best performers vs. Automobiles and Banks that saw the biggest losses. On the macroeconomic level, in Italy, April’s industrial output fell more than expected to -42.5% YoY. In...

Research Department

INFORME DIARIO 12 JUNIO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: AEDAS, CELLNEX, ENDESA, FCC, MASMOVIL, RED ELÉCTRICA, SACYR, SECTOR BANCOS. EUROPA: INTESA, SAFRAN, UNILEVER. Toma de beneficios de los mercados tras la Fed Caídas pronunciadas en los mercados europeos por encima del -4% lastradas por la visión muy dovish de la Fed y los miedos a una segunda oleada de contagios sobre todo en EE.UU. tras los fuertes rebotes recientes. Dentro del Euro STOXX todos los sectores cerraron con pérdidas, con Bienes de Consumo y Farma mostrando el mejor comportamiento relativo frente a Autos y Bancos que sufrieron las may...

Ignacio Romero

SACYR: MENSAJES DE LA CONFERENCE CALL RDOS. 1T’20 (ANÁLISIS BANCO SABADELL)

Los principales mensajes de la conference call:  Posición de liquidez. En las últimas semanas han aumentado las disponibilidades en 300 M euros. Sus previsiones para 2020 muestran disponibilidad de liquidez sin tensiones, tienen cubiertos los vencimientos de este año. La subida de deuda con recurso se debe a un tema estacional (1T suele ser el peor del año).  Política de dividendos. El scrip dividend (anunciado pero todavía no aprobado en JGA) quedará supeditado a la situación de la crisis de manera que en vez de proceder a su ejecución en julio (como se hizo el año pasado) tomarán una deci...

Ignacio Romero

SACYR: 1Q’20 RESULTS AND CHANGE OF T.P. TO UNDER REVISION (ANÁLISIS BANCO SABADELL)

1Q'20 vs. 1Q'19 Results Sales: € 985.39 M (+1.4% vs. +1.2% BS(e)); EBITDA: € 165.66 M (+15.8% vs. +3.8% BS(e)); Net Profit: € 32.17 M (-15.3% vs. +28.2% BS(e)); The results came in as expected in revenues, above in EBITDA and below in Net Profit. In general terms, we believe that these results, which were difficult to estimate due to the impact from Covid-19, the changes made in the scope of consolidation (with the sale of the Guadalmina motorway, 9 energetic plants, and several water concessions in Portugal), and the provisioning moves in Repsol, are not surprising and do not change our view...

Ignacio Romero

SACYR: RDOS. 1T’20 Y CAMBIO DE P.O. A BAJO REVISIÓN (ANÁLISIS BANCO SABADELL)

Rdos. 1T'20 vs 1T'19: Importe neto de la cifra de negocio: 985 M euros (+1,4% vs +1,2% BS(e)); EBITDA: 166 M euros (+15,8% vs +3,8% BS(e)); BDI: 32 M euros (-15,3% vs +28,2% BS(e)). Los Rdos están en línea con lo previsto en ingresos, por encima en EBITDA pero por debajo en BDI. En líneas generales vemos que los Rdos, que eran difíciles de estimar por el impacto de Covid-19, cambios en el perímetro (por la venta de la Autovía del Guadalmina. 9 plantas energéticas y activos de agua en Portugal) y el juego de las provisiones en Repsol, no contienen sorpresas y no cambian nuestra opinión sobre la...

Tony Lebon

Sacyr : ¿ La remontada ?

Following the negative ruling on the Panama Canal advances in December, the price of the 2019 convertible bond has decreased by 2 figures (from c. 99% to c. 97% currently, with a low point at 95%). This was one of the risks surrounding Sacyr’s liquidity position that we highlighted in our last credit reports (see our Special Comments published on 9 and 12 October 2018). However, the group managed to finance this cash-out with a new loan. - The most immediate sources of liquidity a...

Tony Lebon

Sacyr : ¿ La remontada ?

Following the negative ruling on the Panama Canal advances in December, the price of the 2019 convertible bond has decreased by 2 figures (from c. 99% to c. 97% currently, with a low point at 95%). This was one of the risks surrounding Sacyr’s liquidity position that we highlighted in our last credit reports (see our Special Comments published on 9 and 12 October 2018). However, the group managed to finance this cash-out with a new loan. - The most immediate sources of liquidity a...

Tony Lebon

Sacyr : Addendum to our report published on 9 October

After our update (Special Comment) on Sacyr on 9 October, we had another call with the company, following which we would like to clarify two points. - >Cash linked to the Pedemontana-Veneta project - There has been some misunderstanding in our previous discussions with the company related to the cash in the construction division that is related to the Pedemontana-Veneta project and therefore not available: Sacyr told us that the related cash is EUR 1,369bn, instea...

Tony Lebon

Sacyr : Addendum to our report published on 9 October

After our update (Special Comment) on Sacyr on 9 October, we had another call with the company, following which we would like to clarify two points. - >Cash linked to the Pedemontana-Veneta project - There has been some misunderstanding in our previous discussions with the company related to the cash in the construction division that is related to the Pedemontana-Veneta project and therefore not available: Sacyr told us that the related cash is EUR 1,369bn, instea...

Tony Lebon

Sacyr : ¿Quizás, Quizás, Quizás?

Sacyr intends to issue an inaugural sub-benchmark EUR-denominated senior unsecured straight bond with “intermediate” maturity. This bond would be issued under the company’s EMTN program (the programme’s size is EUR 500m). The prospectus of the latter was published in May 2018 and we understand that there will be a simple termsheet on the new bond. This process is fairly uncommon for a shadow single-B name and the prospectus of the programme is surprisingly short. - After talking to...

SACYR SA sees an upgrade to Slightly Negative thanks to a better star rating, but the title remains unattractive

The independent financial analyst theScreener just awarded an improved star rating to SACYR SA (ES), active in the Heavy Construction industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 2 out of 4 possible stars. Given its market behaviour as risky, theScreener considers that these elements allowing slightly upgrading its general evaluation to Slightly Negative; the title, however, remains unattractive. As of the analysis date April 14, 2020, the closing price was EUR 1.63 and its target price was estimated at EUR 1.30.

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)

Sacyr – AGM 10 june 2020

It is proposed to re-elect two proprietary Directors in items 6.1 and 6.2, as well as to ratify the appointment of Mr. Luis Javier Cortés Dominguez as other external Director in item 6.3. ECGS has concerns over the lack of independence on the Board (46.2%), therefore we recommend that shareholders oppose these resolutions.   In item 7, shareholders are called for an advisory vote on the 2019 Directors'Annual Remuneration Report. Concerns may arise over the excessive power of the Board to increase all of the Chairman-CEO's remuneration components at their discretion, in particular his bonus a...

Expert Corporate Governance Service (ECGS)

Sacyr - AGM 12 June 2019

We have concerns over the composition of the Board of Directors, because the Chair and CEO positions are combined, there is not a majority of independent members (46% according to both the Company's self-assessment and ECGS guidelines) and significant shareholders are overrepresented (on aggregate 38% of Board members with 29% of the share capital). Therefore, we recommend that shareholders oppose the re-appointment of the Chairman-CEO Mr. Manuel Manrique Cecilia (item 5.1) and the proprietary Director Prilou SL (item 5.3). In item 6, shareholders are called to approve the Company's remunerat...

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