Derichebourg Shares Drop 2.38% to €10.24 After a 63% Yearly Rally
The metal recycler's stock takes a breather midday. After reaching €10.69 the previous day, the share price falls by 2.38% to €10.24. This movement is part of a broadly lower trading session in Paris, with the CAC 40 down 1.38% and the SBF 120 down 1.37%.
Stock Moves Above Upper Bollinger Band into Overbought Territory
Derichebourg's stock is priced at €10.24, above the upper Bollinger Band set at €10.09. The stock is at 110% of the band, a clear overbought configuration. An RSI at 75 confirms this tension, following the rally that drove the stock up to €10.69 in Thursday's session. The gap with the 200-day moving average, at €7.12, is nearly 44%. The MM20 (€9.36) and MM50 (€8.79) remain significantly below the current price, indicating a bullish momentum that has been building for several weeks. Today's decline occurs as the SBF 120 index loses more than 1%, amidst tensions in the oil market, with Brent crude surpassing $109 per barrel.
Valuation at 11.4 Times Earnings, Below Sector Average
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Based on the consensus of five analysts, the stock is trading at approximately 11.4 times current year earnings and 9.7 times next year's earnings. The average for the Utilities sector is 16.9 times. The expected growth in earnings per share from one year to the next is 17.6%. The recent rally is supported by identified corporate operations. In early May, the group signed a contract for the acquisition of German-based Scholz Recycling, which has a revenue of €1.6 billion. Over one year, the stock has gained +63.32%, and +18.86% over three months.
Demande ferrailles meilleure grâce à quotas restrictifs et droits de douane UE
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