21% decline in three months: Eiffage share tests its support level

Support level of €99.26 approached as the three moving averages remain well above

The Eiffage share is down 2.06% to €99.90 and stands less than 1% from its support level of €99.26, a level the stock had not tested until now. The price is below the 20-day MA (gap of 4.78%), the 50-day MA (11.38%) and the 200-day MA (20.59%), a configuration that reflects a sustained decline over several months: the stock is down 21.21% over three months. The RSI at 37 remains neutral, with no signs of selling exhaustion. The €105.30 support broken on September 29 followed by the €102.75 level abandoned the next day paved the way for this new test.

Eiffage is in the lower half of the CAC 40, which is down 1.41% to 7,754.37 points. The construction sector backdrop remains weak: the construction climate in France stands at -17.2, order books at -33 and residential permits are down 9.5% year-on-year. Regarding rates, the 10-year OAT is at 4.83% according to the October 7 reading, 7 basis points from its recent peak, with a spread of 1.34 points against the Bund.

Order book for Works up 7%, but motorway traffic in decline

When publishing the H1 2026 results on August 27, the group highlighted a Works order book up 7% year-on-year, and current operating margin for Eiffage Energy Systems up 30 basis points to 5.2%. It also reported total traffic for APRR and AREA down 2.5%, affected by the rise in fuel prices. Brent is trading around 102 dollars, up 1.33% on Wednesday.

Eiffage anticipates activity growth of a lesser magnitude than in 2025. Based on expected earnings per share, the stock is trading at approximately 8.8 times the earnings of the current fiscal year, according to the consensus of analysts surveyed. The support level of €99.26 is now the level to watch in the coming sessions.