Rothschild & Co : Feedback from the road show: resilience of the model in the face of cyclical fluctuations
>Caution on earnings, but confidence on dividends - The road show with management underpins our dividend-based valuation approach even though the less favourable environment prompts us towards greater caution on earnings and growth in the long term.We are lowering our earnings per share estimates by 12% for 2019 and by 4% for 2020. These corrections mainly reflect market uncertainty at a time when Rothschild & Co’s intrinsic performances remain very good. This co...Rothschild & Co SCA is a holding company. Through its subsidiaries, Co. is engaged in banking activities and private equity. Co.'s banking activities include Investment Banking which comprises advisory services for mergers and acquisitions, advisory services for finance and restructuring, the primary equity capital market and the private placement of loans and shares; Corporate banking which comprises direct loans and structuring of financing packages; Private banking which comprises trust services, asset management and strategic planning; and Merchant Banking. Co.'s private equity activities involve investing in essentially medium-sized French companies, alongside a financial partner.
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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