Hermès Shares Drop 2% to €1,588: Down 37% Over the Year, China Weighs In
Hermès International shares fell by 1.94% to €1,590.50 at midday, while the CAC 40 index dropped by 0.57% during the session. The luxury brand is among the biggest losers in the Parisian index, in a sector where Kering is down 2.38% and LVMH 0.92%. This decline is part of an unfavorable medium-term dynamic, with a loss of over 37% over the year.
Avior Capital Markets Lowers Price Target on Hermès While Maintaining Positive Recommendation
Avior Capital Markets released a new review on the luxury house this Thursday, lowering its price target from €2,223.73 to €2,152.18. The analysis firm maintains its outperform rating. Based on the current price of €1,590.50, the new target offers a theoretical potential of around 35%. This revision occurs in a context of sustained pressure on the luxury sector exposed to China. Official Chinese figures show a 21.3% year-on-year decline in jewelry and gold sales in April 2026, while Swiss watch exports to Hong Kong have only increased by 0.5%. The company, which had confirmed during the announcement of the 2025 annual results (on February 11, 2026) an ambitious medium-term constant currency revenue growth target, is trading at approximately 35.6 times the expected earnings for the current fiscal year according to the consensus of analysts surveyed.
The Stock Dips Below its 200-Day Average and Hovers Near Its €1,571.50 Support
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From a technical perspective, the price is now 20.58% below its 200-day moving average, which is at €2,002.55. The decline is also significant compared to the MM50 at €1,692.71 (a gap of 6.04%) and the MM20 at €1,621.83. The session on May 20 had already briefly tested the support threshold of €1,571.50, with a low at €1,563.50 before a technical rebound. The RSI at 46 remains in a neutral zone, with no sign of seller exhaustion. The MACD continues to trend negatively, with a line at -16.77 below its signal line at -14.90. The next area to watch remains the €1,571.50 support, whose clear break would pave the way for a continued decline. The major resistance lies far above, at €1,783.
Le modèle Hermès, fondé sur une distribution exclusive et qualitative, a une nouvelle fois porté ses fruits. Hermès aborde l’année 2026 avec confiance.
Résultats annuels 2025 solides: chiffre d’affaires de 16 002 millions d’euros, croissance à taux constants de 8,9 % et croissance à taux courants de 5,5 %. Résultat opérationnel courant de 6 569 millions d’euros (41,0 % du chiffre d’affaires) et résultat net de 4 524 millions d’euros. Cash flow disponible ajusté de 3 880 millions d’euros; trésorerie nette retraitée à 12 773 millions d’euros. Propositions de dividendes et actions nouvelles pour 2026, avec un accent sur le développement et l’emploi.
Outlook / guidance
Expected revenue: Le chiffre d’affaires 2026 est attendu en progression à taux constants sans chiffre précis communiqué.
Expected EBITDA: Non précisé dans le communiqué.
Expected net income: Non précisé dans le communiqué.
Management commentary: Perspectives positives pour 2026, grâce au modèle d’entreprise intégré et à la fidélité de la clientèle, malgré un contexte économique et géopolitique incertain.
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