Accor Shares Drop 1.4% to €42.83 Amid Brent Pressure and US Rates
Mid-session, the hotel group's stock (FR0000120404) falls by 1.4% to €42.83, while the CAC 40 is down 0.62% at 7,903.27 points. Brent crude remains above $110, and US bond yields hit a high not seen since February 2025. Accor's stock is among the biggest losers in the CAC 40.
Unfavorable Macro Context for the Tourism and Hospitality Sector
The session's backdrop is challenging for sectors sensitive to energy and rates. Brent crude hovers around $111, up more than 50% since late February, and the Strait of Hormuz remains largely restricted. Concurrently, the yield on the 10-year Treasury climbs to 4.63%, its highest since February 2025, reviving the scenario of 'higher for longer' interest rates.
This context extends the negative streak that began last Friday, when the stock had already dropped 2.45% to €43.44 following the surge in Brent prices. Over one year, the stock is down 9.55%, and 13.96% over three months.
The group had also noted the impact of the Middle East conflict on its activities in the region during its first quarter revenue report in late April, with a RevPAR decline of 9% in the United Arab Emirates. The G7 Finance Ministers meeting opening in Paris this Monday has notably included the Hormuz issue on its agenda.
The Stock Falls Below Its Moving Averages as Dividend Detachment Approaches
At €42.83, the stock is trading below the MM20 (€43.53) and touching the MM50 (€42.87). The MM200 at €44.41 remains 3.56% above the current price, with the stock notably falling below this average again after briefly surpassing it last Thursday, May 14. The price is positioned in the lower part of the Bollinger Bands, at 37% of the range, without reaching the lower boundary at €40.86. The RSI at 49 is neutral.
The support at €41.18 becomes the first reference level in case of further decline. In terms of valuation, the stock is trading at about 19.2 times the earnings expected for the current fiscal year according to the consensus of 16 analysts, compared to 14.3 times for the average of the Consumer Discretionary sector, with an estimated EPS growth of +19.1% year over year.
The next key dates are approaching: the general meeting of shareholders will be held on May 27, followed by the dividend detachment on June 1 and its payment on June 3.
