Edenred among the biggest decliners in the SBF 120, down 10.5% over three months
The provider of employee benefits and dedicated payment solutions is falling again after the previous day's rebound. It is trading in a Paris market that is slightly higher, which widens the gap with the index.
A pullback below short-term averages, at a distance from the MM200
Shortly before midday, Edenred shares are down 2.16% at €25.33, while the SBF 120 is up 0.33%. The stock is thus among the biggest decliners in the index, with a session down more than two points for the most affected stock, EssilorLuxottica.
The share price has fallen back below its 20-day moving average (MM20) at €25.89, a gap of 2.16%, and its 50-day moving average (MM50) at €27.34, but it remains above its 200-day moving average (MM200) at €23.51, a gap of 7.74% in its favour.
The price therefore retains a cushion relative to its long-term trend, while the short-term averages are now above it. This session follows a 3% rebound the previous day, which was not enough to erase a 10.53% decline over three months.
Third-quarter results still weighing on the stock
On October 21, Edenred reported stable operating revenue of €667 million for the third quarter, down 1.2% on a like-for-like basis.
The group attributes this to stricter regulation of meal vouchers in Italy and Brazil, which it expects to have a negative impact of 7% to 10% on EBITDA for the activity in 2026. At the same time, it confirmed its 2026 EBITDA target of €1,240 million.
On October 28, it raised €800 million through a two-tranche bond issue, which brings the average maturity of its debt to 4.4 years. On the market side, the 10-year French government bond (OAT) stood at 4.66% according to the Banque de France data released on November 10.
Over one month, the stock has fallen 10.34%, but it still shows a 19.42% gain over one year. The RSI at 45 remains neutral, with no overbought or oversold signal.
