FDJ United Shares Drop Nearly 8% After Tax-Burdened Results
The stock of the gaming and betting operator sharply declined this Wednesday, following the release of disappointing quarterly results. The drop occurs in an already weakened market context, with the CAC 40 down 0.39% during the session, at 8,203 points.
Significant Drop in Share Price Following Quarterly Results
FDJ United shares fell by 7.84% to 24.34 euros in mid-afternoon, after closing at 26.41 euros the previous day. The release on Monday of the first quarter 2026 results heavily impacted the stock price. The company reported revenue of 895 million euros, down 3% year-over-year, primarily due to increased taxation on gaming and betting, estimated at 24 million euros. However, the gross gaming revenue (GGR) increased by 1% to 2.175 billion euros, indicating resilient operational activity but insufficient to offset the tax pressure. On the same day, the company's 2026 general meeting is held. The dividend detachment is scheduled for April 28, with payment set for April 30. Additionally, Oddo BHF revised its price target today from 28 to 27 euros, while maintaining a neutral rating on the stock. This target represents a potential upside of about 11% from the current price.
Technical Analysis Shows Potential Overselling
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Technically, today's drop brings the stock below the lower boundary of the Bollinger Bands, set at 24.36 euros, indicating a potential oversold situation. The price is now significantly below its 20-day (25.57 euros) and 50-day (25.09 euros) moving averages, confirming a short-term trend deterioration. The support threshold identified at 24.50 euros has already been breached, with the stock trading below this level. Over one year, FDJ United's performance stands at -19.51%, although the stock still showed a gain of 7% over three months before today's decline. The market environment provides little support: the SBF 120, which includes the stock, is down 0.36% in session, while the Dow Jones closed down 0.59% earlier in the day.
Vise désormais une stabilité du PBJ et une baisse low single digit du chiffre d'affaires ; maintient un objectif de marge d'EBITDA courant entre 23% et 24%
Outlook / guidance
Management commentary: Un objectif de marge d'EBITDA courant comprise entre 23 % et 24 %
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