Eutelsat Shares Drop Another 2% Threatening Support at €2.16
The satellite operator continues its slide in the mid-afternoon on the Parisian market, while the CAC 40 remains stable. The stock is now at the bottom of the SBF 120 and struggles to break out of the downward spiral that began in late May. Technical indicators remain significantly degraded.
A Decline that Extends the Slide and Pushes the Stock Below its Moving Averages
Eutelsat loses 2.19% to €2.37, down from €2.42 the previous day. The drop brings the monthly decline to 17.34%, while the stock has fallen 6.4% over the week. Over three months, the performance remains marginally positive (+4.32%), but the magnitude of the recent drop nearly wipes out all the gains accumulated in the spring.
The price is now below its three moving averages: 3.70% below the MM20 (€2.46), 19.42% below the MM50 (€2.94), and 10.27% below the MM200 (€2.64). The MM50 being significantly above the other two reflects the severity of the June decline. The RSI at 41 remains in a neutral zone and does not send a signal of seller exhaustion, while the support at €2.16 is getting closer.
Persistent Selling Pressure Despite LEO Contracts Signed in June
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In June, Eutelsat had nevertheless made several announcements about its low-earth orbit constellation: the Centaur contract signed with the French Ministry of the Armed Forces, worth up to €350 million over eight years, and the expansion of its maritime partnership with AST Networks. During the nine-month financial report for the fiscal year 2025/2026 (published on May 12, 2026), the group highlighted a 50% increase in revenue from its LEO activities year-on-year, while also noting a negative currency impact of €42 million for the period. The next key point to watch is the behavior of the support at €2.16, a now crucial threshold close to the current price.
SectorTélécommunications›Satellite et connectivité
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Context
Period
Period: FY2027
Guidance from the release
« Eutelsat confirme également ses objectifs pour l'exercice 2028-29 [...] grâce à la forte dynamique des ventes LEO. »
Outlook / guidance
Management commentary: « Eutelsat confirme également ses objectifs pour l'exercice 2028-29, avec des prévisions de chiffre d'affaires des quatre activités opérationnelles comprises entre 1,5 et 1,7 milliard d'euros pour l'exercice clos au 30 juin 2029 grâce à la forte dynamique des ventes LEO. »
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