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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Compagnie Financière Richemont SA    CFR   CH0210483332

COMPAGNIE FINANCIÈRE RICHEMONT SA

(CFR)
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European Luxury Firms Trade Lower on Coronavirus Concerns

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01/21/2020 | 05:38am EST

By Mauro Orru

Stocks in the European luxury sector opened lower Tuesday as the spread of the coronavirus in China threatened consumer spending in the region, according to analysts.

Luxury companies such as Compagnie Financiere Richemont SA (CFR.EB) and Kering were trading 3.71% and 3.86% lower at 75.3 Swiss francs ($77.8) and 575.9 euros ($638.7), respectively, at 0953 GMT.

"This epidemic is also spreading close to the Lunar New Year festivity, which is an important festive period of spending and traveling for Chinese consumers," said Paola Carboni, analyst at Italian investment bank Equita Sim. The exposure of listed luxury players to Chinese consumers--estimated between 33% and 35%--is consistent with the sector average. The exceptions are Brunello Cucinelli SpA--estimated between 12% and 15%--and Burberry Group PLC--close to 40%.

The coronavirus, which originated in the central Chinese city of Wuhan, was reported by authorities on Monday to have spread to Beijing, Shanghai as well as in the southern province of Guangdong near Hong Kong. At least 218 cases had been confirmed on Monday and three people had been killed by the virus, according to Chinese state media and health authorities.

"Fears of being infected might impact on travel flows and spending," Ms. Carboni said, noting the luxury sector's stock performance Monday was weak, down 2% to 3%.

According to Flavio Cereda, analyst at Jefferies, the performance of luxury-sector shares is down to "the virus story," noting that "if the Chinese consumer does not travel, luxury spend will be affected."

Loic Morvan, an analyst at Bryan Garnier, said any further negative development from Asia may put pressure on luxury share prices given the rally that boosted luxury groups in 2019, when LVMH Moet Hennessy Louis Vuitton SE (MC.FR) gained roughly 60%.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

Stocks mentioned in the article
ChangeLast1st jan.
BRUNELLO CUCINELLI S.P.A. 3.75% 34.9 Delayed Quote.5.83%
BURBERRY GROUP PLC 1.74% 2013 Delayed Quote.-10.27%
CHRISTIAN DIOR SE 2.58% 445.6 Real-time Quote.-4.90%
COMPAGNIE FINANCIÈRE RICHEMONT SA 0.86% 72.92 Delayed Quote.-2.08%
KERING 3.04% 587 Real-time Quote.-2.65%
LVMH MOËT HENNESSY - LOUIS VUITTON SE 2.49% 419.05 Real-time Quote.-1.29%
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Financials (EUR)
Sales 2020 15 159 M
EBIT 2020 2 156 M
Net income 2020 1 608 M
Debt 2020 776 M
Yield 2020 2,92%
P/E ratio 2020 23,9x
P/E ratio 2021 21,6x
EV / Sales2020 2,60x
EV / Sales2021 2,45x
Capitalization 38 712 M
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Technical analysis trends COMPAGNIE FINANCIÈRE RICHE
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Mean consensus HOLD
Number of Analysts 28
Average target price 73,92  €
Last Close Price 68,54  €
Spread / Highest target 23,6%
Spread / Average Target 7,86%
Spread / Lowest Target -21,1%
EPS Revisions
Managers
NameTitle
Jérôme Lambert Group Chief Executive Officer & Executive Director
Johann Peter Rupert Executive Chairman
Burkhart Grund Group Chief Finance Officer & Executive Director
Alan Grant Quasha Non-Executive Director
Jan Rupert Non-Executive Director