Rothschild & Co : Q3 2019 – Low point for M&A
>Q4 2019 trend indicators more favourable than expected - Q3 2019 results are unlikely to prompt a significant revision of the consensus forecasts inasmuch as the decline in M&A revenues (Q3/Q3 = -25.8%) was largely expected. In contrast, the positive guidance for M&A in Q4 was probably not anticipated.We think that the current valuation is based on assumptions that we do not share: 1/ M&A revenues will continue to decline fairly sharply in 2020-2021; 2/ private ...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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