Pluxee Shares Bounce Nearly 3%, Following Edenred
The employee benefits specialist regains momentum this afternoon in Paris, in a well-oriented Parisian market. The rebound occurs as the Parisian market welcomes the geopolitical relaxation in the Middle East, which affects the oil prices and supports European indices. However, the stock remains significantly down over the year.
The stock rebounds nearly 3% but remains below its three moving averages
Pluxee shares gain 2.96% at €11.48, in a SBF 120 up by 0.84%. The stock performs in the upper range of the index but does not reach the top positions, held by Imerys, Forvia, or Vicat. Its direct competitor Edenred advances 3.13% at the same time, indicating a common momentum in the employee benefits sector.
The rebound should be viewed in light of technical configurations. The price moves below the MM20 (€11.62, a gap of -1.20%) and the MM50 (€11.73, -2.13%), while the MM200 at €12.91 remains 11.08% above the current price, indicating a still deteriorating underlying trend. The RSI at 39 is just emerging from a weakness zone, and the resistance threshold identified at €12.52 remains distant.
The stock loses nearly 40% over a year despite a PER of 7.6 times
Over twelve months, the stock has lost 39.61%, having been penalized in May by a procedure from the Chilean competition authority targeting its local subsidiary. The 8.71% rebound over three months has not been enough to reverse the underlying trend, with the stock still down 3.61% over the past month. Over the week, the stock has gained 2.32%, in line with the broader rebound of European cyclical stocks observed since last Friday.
According to the consensus of surveyed analysts, the stock is trading at about 7.6 times the expected earnings for the current fiscal year, with a limited EPS growth of 1.2% from one year to the next. On May 19, Jefferies had raised its price target, without triggering a lasting bullish break. The support at €10.96 remains the reference level to watch below the short moving averages.
