Hermès Shares Drop 2.32% to €1,622.50, Down -33.86% Over One Year
Hermès International shares fell by 2.32% to €1,622.50 at midday, in a CAC 40 down by 0.97%. The stock is among the five biggest declines in the Paris index, alongside LVMH (-3.59%) and Kering (-1.55%). The luxury sector is feeling the impact of a session marked by geopolitical tensions in the Middle East.
The saddler is falling within a heavily penalized luxury segment. LVMH is down 3.59%, Christian Dior 3.41%, and Kering 1.55%. The sector is suffering from the diplomatic deadlock between Washington and Tehran, keeping Brent crude above $103 (+2.24%). In China, the world's leading luxury market, producer prices jumped 2.8% year-over-year in April, their highest increase since July 2022. Hermès now shows a three-month decline of -23.61% and -33.86% over one year. Recall that the group posted a quarterly revenue of €4.1 billion on April 15, marked by organic growth of 6% at constant exchange rates but a negative currency effect of €290 million, triggering a drop of more than 10% during the session. The sector context remains mixed: Swiss watch exports to China increased by 4.2% year-over-year, but Chinese retail only grew by 1.7% in March.
Below All Moving Averages, Support at €1,588 in Sight
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The price is moving below all its moving averages: it is 2.86% below the MA20 (€1,670.31), 7.45% below the MA50 (€1,753.03), and more than 20% below the MA200 (€2,029.29). This configuration confirms the worsening trend that began since the first quarter's publication. The RSI at 47 remains neutral and does not send a signal of exhaustion. In the Bollinger Bands, the price is in the lower part at 29% of the range, close to the lower boundary (€1,556.21). The technical support at €1,588 is now about 2% from the current price. In terms of valuation, the stock is trading at 36 times the expected earnings for the current fiscal year according to the consensus of 21 analysts, compared to a sector average for 'Consumer Discretionary' of 14.5 times. The next key date on the financial calendar is the publication of the first half 2026 results, expected on July 29, 2026.
Le modèle Hermès, fondé sur une distribution exclusive et qualitative, a une nouvelle fois porté ses fruits. Hermès aborde l’année 2026 avec confiance.
Résultats annuels 2025 solides: chiffre d’affaires de 16 002 millions d’euros, croissance à taux constants de 8,9 % et croissance à taux courants de 5,5 %. Résultat opérationnel courant de 6 569 millions d’euros (41,0 % du chiffre d’affaires) et résultat net de 4 524 millions d’euros. Cash flow disponible ajusté de 3 880 millions d’euros; trésorerie nette retraitée à 12 773 millions d’euros. Propositions de dividendes et actions nouvelles pour 2026, avec un accent sur le développement et l’emploi.
Outlook / guidance
Expected revenue: Le chiffre d’affaires 2026 est attendu en progression à taux constants sans chiffre précis communiqué.
Expected EBITDA: Non précisé dans le communiqué.
Expected net income: Non précisé dans le communiqué.
Management commentary: Perspectives positives pour 2026, grâce au modèle d’entreprise intégré et à la fidélité de la clientèle, malgré un contexte économique et géopolitique incertain.
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