Nexans shares rebound 6.5% over the week but fall 8% over three months
The Courbevoie-based cable maker recovers mid-session in a well-oriented Paris market. It ranks in the upper part of its index, after a week in which the stock had already risen, but remains below two long-term moving averages.
A 2.15% rise to €128.50 brings the stock back above its 20-day moving average
Nexans shares gain 2.15% to €128.50 intraday, compared with 1.04% for the SBF 120. The stock ranks among the strongest gainers in the index. This rebound extends a 6.37% gain over the week, but the stock remains down 7.95% over three months.
The 20-day moving average at €122.12 has dropped back below the share price, with a gap of 5.2%, while the 50-day moving average at €130.20 remains 1.3% above.
The share price is therefore still below this average, and below the 200-day moving average at €136.44. The move follows the cable order in Greece announced on 6 November, which had already placed the stock at the top of the index.
The third quarter confirms the ramp-up of the grid and data centre business
During the publication of its third-quarter results, on 22 October, the group reported revenue up 21.4%, including 9.0% organic growth, and confirmed its annual targets. It targets adjusted EBITDA of €805 million in 2026.
PWR-Grid's organic growth reaches 14.8% in the third quarter, also driven by PWR-Connect, while PWR-Transmission declines 4.0% over the period.
Among the risks cited, the comparison remains very demanding in the fourth quarter, with organic growth of 40.0% a year earlier. Over twelve months, the share buyback represents €42 million, or 0.8% of market capitalisation. Above the 20-day moving average, the 50-day moving average at €130.20 is the next moving average level the stock has not yet regained.
