GTT Shares Dip at the Close to €182.70, Consolidating After Monday's Rise
Following a day of consolidation, the specialist in containment membranes for LNG carriers gives back some of the gains made during the previous session. The decline occurs in a weakened market where the CAC 40 also loses ground. This is a classic case of profit-taking after a strong rebound.
Market Performance and Share Dynamics
Gaztransport et Technigaz's stock fell by 2.09%, dropping to €182.70 after closing at €186.60 the previous day. Only 0.41% of the capital was traded during this session. However, this consolidation does not undermine the annual momentum: since the beginning of the year, the group has advanced by 36.34%, significantly outperforming the CAC 40, which has gained 8.89% over the same period. Over three months and seven days, the stock maintains a positive trajectory with gains of +9.73% and +9.08%, respectively, illustrating the persistence of the bullish trend even after today's profit-taking.
Financial Highlights and Future Outlook
This decline follows Monday's announcement of a robust operational performance that had boosted the stock by 8.74%. The company reported a revenue of €599.6 million for the first nine months, up by 29%. The third quarter alone accounted for €211 million, surpassing the analysts' consensus estimate of €202 million. The business of tank equipment for new LNG carriers, which represents 93% of the revenue, showed a growth of 30%. With these results, the group has raised its forecasts for the current year, now expecting revenue between €790 and €820 million, up from €750 to €800 million previously. EBITDA is projected to be between €530 and €550 million. This improvement in guidance reflects the vitality of the liquefied natural gas market and a backlog of 295 ships at the end of September.
Technical Analysis
Technically, the stock is retreating from its immediate resistance of €186.60. The Relative Strength Index (RSI) stands at 91, indicating overbought conditions that justify this profit-taking. The 50-day moving average is at €159.31, while the 200-day moving average is at €154.07, maintaining a bullish alignment. The MACD maintains a positive configuration with a main line at 4.67 points ahead of the signal line at 2.82 points. The immediate support is positioned at €151.30. The stock remains framed by the Bollinger Bands with an upper threshold at €178.16 and a lower threshold at €152.19.
