Eiffage share declines 17.5% over three months and approaches its support at €97.42
The construction and highway concessions group edges up slightly at midday, in a well-oriented Paris market. This recovery comes after a prolonged decline that has left it well below its long-term averages.
A still timid rebound against a quarterly decline of 17%
The Eiffage share gains 0.45% to €100.55 in trading, while the CAC 40 advances 0.89%. The stock remains in the middle of the index ranking and lacks the momentum of leading stocks.
Over the month, it loses another 5.14%, and its decline reaches 17.38% over three months. The rebound therefore only partially offsets a sharp pullback, especially as the group had pierced its 250-session floor on October 22, before recovering 2.5% on October 26.
The price stands 1.02% above its 20-day moving average at €99.53, but 4.21% below the 50-day average and 18.78% below the 200-day average. The RSI at 45 remains neutral.
Compared to its peers, Eiffage outperforms Bouygues (-0.19%) and moves in line with Vinci (+0.32%). Both groups show declines of 11.16% and 8.16% over three months.
Support at €97.42 and the sale of Stade Pierre-Mauroy in the background
The stock stands 3.2% from its support level at €97.42, a level that the recent decline has brought closer without breaching. The nearest resistance is at €108.
On the activity front, Eiffage has entered exclusive negotiations with LOSC to sell the management of the Decathlon Arena - Stade Pierre-Mauroy, according to a memorandum of understanding signed on October 21. On the concessions side, APRR published revenue excluding Construction of €2,487 million over nine months (+0.2%), with traffic down 2.9%.
In terms of valuation, the consensus of surveyed analysts places the stock at around 8.9 times current fiscal year earnings.
According to reviewed declarations, net short positions reach 1.13% of capital, spread between two funds, a 1.13 point increase in 30 days: a modest level, but rising rapidly. This is the first technical level to watch, in a context of elevated French rates: the 10-year OAT is at 4.94%.
