Alstom Shares Slide to €16.69, Down 43% Over Three Months
The stock of the railway manufacturer fell by 2.11% to €16.69 on Monday midday in a declining Paris market. The CAC 40 dropped by 0.7% during the session, and the SBF 120 lost 0.74%. The stock has sunk further after a weekly decline of 3.55% and a three-month drop of 43.19%.
The Stock Falls Below All Moving Averages and Nears its Support at €16.32
Alstom's stock is now trading below its three reference moving averages. The price is below the MM20 at €17.00, with a gap of -1.82%. The drop is more pronounced compared to the MM50 (€21.12) and MM200 (€22.94), which are 20.98% and 27.24% above the current price, respectively.
The stock is approaching the support at €16.32, now about 2% below the current price. The Bollinger Bands place the stock in the lower part of the channel, at 30%, with the lower boundary set at €16.22. The RSI at 37 reflects the exhaustion of the buying momentum without yet tipping into oversold territory.
Regarding positioning, the declared net short positions reach 3.11% of the capital, up by 0.42 point over thirty days, according to the reviewed declarations. KINTBURY CAPITAL (1.15%), AKO CAPITAL (0.79%), and D. E. SHAW (0.59%) are among the main sellers.
Valuation Falls Below Industry Average After Annual Accounts Release
The day's decline continues a trend that began with the publication of the annual accounts for 2025/26 on May 13. The group reported €27.6 billion in order intake (+39%) but a decline in adjusted operating margin to 6.1%, down from 6.4% a year earlier. Following this, Deutsche Bank lowered its price target.
Based on the consensus of ten analysts updated on May 15, the stock trades at about 10.5 times current fiscal year earnings and 9 times those of the next year, compared to 17.3 times for the industry average. The expected growth in earnings per share from one year to the next is 16.5%.
The market context remains challenging: U.S. bond yields have reached their highest since February 2025 and Brent crude is trading above $110 per barrel, weighing on stocks sensitive to interest rates and cost inflation. The next key date in the financial calendar is the general meeting of shareholders scheduled for July 9, 2026.
