Edenred shares dip below €23.92 intraday before rebounding nearly 3%
The employee benefits and dedicated payments specialist rebounded sharply late in the afternoon, in a Paris market buoyed by a broad rise in indices. The rebound follows a session in which the stock briefly fell below a technical threshold monitored for several weeks, a few days after a bond issue.
A support broken intraday then recovered, with the long moving average in the background
Edenred gained 2.76% to €24.61, after breaking through its €23.92 support intraday to a low of €23.79. The stock moved back above it shortly afterwards, which limits the breach to a test.
The share price nevertheless remains below its short-term moving averages: it is under the MA20 (a gap of 7.97%) as well as the MA50 (a gap of 11.63%), while it holds above the MA200, at €23.32 (a gap of 5.53%).
The RSI at 35 reflects a stock that has lost much ground in recent weeks, with a decline of 9.19% over one month and 13.16% over three months.
Over seven days, performance remains slightly positive, at 1.28%. Meanwhile, the CAC 40 rose 2.18% and the SBF 120 rose 2.07%, so Edenred is outpacing its index slightly.
A review of third-quarter accounts and an €800 million bond financing
On October 21, the group had published third-quarter revenue down 1.2% on a like-for-like basis, penalized by stricter regulation of meal vouchers in Italy and Brazil. Excluding this effect, underlying growth stood at 6.6%, and Mobility grew 10.7%.
On this occasion, Edenred confirmed its EBITDA target for 2026. The group then announced on October 28 an €800 million bond issue in two tranches, intended for general corporate purposes and the repayment of upcoming maturities, which brings the average maturity of its bond debt to 4.4 years.
On the capital side, the €50 million share buyback program announced on September 2 was approximately 100% executed as of October 28, and the group repurchased the equivalent of 11.0% of its market capitalization over twelve months. The €23.92 support remains the technical level to watch, with resistance at €30.05.
