ISS A/S : Profit warning on 2019, little visibility on operating outlook subsequently – Rating lowered to Neutral vs Buy
>Downward revision to 2019 guidance... - ISS published its Q3 2019 trading update early, with the group significantly lowering its targets for margins and FCF for 2019 while the organic growth guidance of 6.5-7.5% is maintained (ODDO BHF estimate of 7.1% after 6.8% for the first nine months). Accordingly, ISS now forecasts an EBIT margin of over 4.2% (vs 5.0/5.1% previously, ODDO BHF estimate of 4.2%), impacted by operating issues in various regions (more challenging ...ISS is a Facility Services company based in Denmark. Co.'s focus of operations is on providing its customers a full range of facility services required to meet each customers needs. Co. offers a wide range of services such as: Facility Management, Cleaning Services, Support Services, Property Services, Catering Services and Security Services. Co. maintains operations in more than 50 countries across Europe, Asia, North America, Latin America and Pacific, serving public and private sector customers in business services and information technology, manufacturing, healthcare, retail, transportation and infrastructure, energy, leisure, food and beverage, pharmaceutical, and other sectors.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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