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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Nestlé S.A.    NESN   CH0038863350

NESTLÉ S.A.

(NESN)
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European stocks fall as healthcare, construction sectors drag

10/21/2020 | 04:52am EST

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

* STOXX 600 down 1.3%, at lowest in more than two weeks

* Ericsson, Vivendi boost STOXX 600

* Centamin slides after production update

Oct 21 (Reuters) - European shares fell for a third straight session on Wednesday, as losses in healthcare and construction stocks countered a lift from encouraging earnings from consumer giant Nestle and telecoms equipment maker Ericsson.

The pan-European STOXX 600 fell 1.3% to close at its lowest in more than two weeks.

Losses were broad-based with only the basic material sector in the green, supported by rising copper prices.

Nestle lifted its 2020 sales forecast following a quarterly beat, but shares inched lower after early gains.

Sweden's Ericsson jumped 9.6% as higher margins and China's 5G rollout helped the company beat quarterly core earnings estimates.

"Earnings have been generally well above expectations, and guidance has been a positive surprise," said Patrick Moonen, principal strategist in the multi-asset team at NN Investment Partners.

"But there are other elements that are currently at play and may have a bigger impact on the market performance than earnings," he said, pointing to many European countries reimposing mobility restrictions following a surge in COVID-19 cases that could weigh on fourth-quarter economic activity.

The STOXX 600 has struggled to break out of a trading range since June, when it recouped a large part of the early pandemic-driven losses. The benchmark is still about 16% below its all-time high.

Capital Economics expects the new containment measures to cause the euro-zone economy to stagnate over the next six months, resulting in only a slight increase in GDP on a quarter-on-quarter basis in the fourth quarter and zero growth in the first quarter of next year.

London's exporter-heavy FTSE 100 underperformed, marking its worst session in a month, hit by a surge in pound after bullish Brexit comments.

Vivendi rose 1.6% after the French media group reported a bigger-than-expected quarterly sales and unveiled plans to list its most-prized asset, Universal Music Group, in 2022.

Third-quarter profits for companies on the STOXX 600 are expected to drop 34.8%, according to Refinitiv data, a slight improvement from the 36.7% predicted at the start of the earnings season.

Of the 29 companies that reported so far, 75.9% have topped earnings expectations.

Gold miner Centamin Plc slumped 19% to the bottom of STOXX 600 after cutting its 2020 production forecast.

Construction companies also took a knocking, with Assa Abloy , the world's biggest lockmaker, falling 4.1% after it reported a drop in quarterly sales. (Reporting by Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila and Lisa Shumaker)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ASSA ABLOY AB -0.56% 213.3 Delayed Quote.-2.24%
CENTAMIN PLC -3.92% 104.25 Delayed Quote.-14.69%
ERICSSON AB -1.24% 104.05 Delayed Quote.27.08%
EURO / BRITISH POUND (EUR/GBP) 0.10% 0.89058 Delayed Quote.5.48%
MSCI UNITED KINGDOM (STRD, UHD) -0.16% 986.948 Real-time Quote.-16.96%
NESTLÉ S.A. -2.14% 101.46 Delayed Quote.-3.17%
NN, INC. -4.33% 6.63 Delayed Quote.-25.08%
STOXX EUROPE 600 -0.20% 391.28 Delayed Quote.-6.49%
VIVENDI SE 0.08% 25.34 Real-time Quote.-2.05%
All news about NESTLÉ S.A.
11/23Danone to cut jobs, product lines in virus-led restructuring
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11/12Nestle Appoints New Head of Strategic Business Units, Marketing and Sales
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11/12NESTLE S A : Changes in the Executive Board of Nestlé S.A.
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11/12NESTLE S A : Changes in the Executive Board of Nestlé S.A.
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11/12Alibaba, JD.com say U.S. was top seller to China during Singles' Day event
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11/09We may soon have a COVID-19 vaccine. But will enough people take it?
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11/09GLOBAL MARKETS LIVE: Berkshire Hathaway, Infineon, McDonald's…
11/09NESTLE S A : to acquire majority stake in UK's Mindful Chef
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11/06NESTLE S A : - Purina launches pet food with plant and insect proteins
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11/05NESTLE S A : Purina launches pet food with plant and insect proteins
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More news
Financials
Sales 2020 84 945 M 92 973 M 92 973 M
Net income 2020 11 697 M 12 802 M 12 802 M
Net Debt 2020 30 184 M 33 036 M 33 036 M
P/E ratio 2020 25,0x
Yield 2020 2,69%
Capitalization 283 B 309 B 309 B
EV / Sales 2020 3,68x
EV / Sales 2021 3,65x
Nbr of Employees 291 000
Free-Float 93,5%
Chart NESTLÉ S.A.
Duration : Period :
Nestlé S.A. Technical Analysis Chart | NESN | CH0038863350 | MarketScreener
Technical analysis trends NESTLÉ S.A.
Short TermMid-TermLong Term
TrendsBearishBearishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 117,02 CHF
Last Close Price 101,46 CHF
Spread / Highest target 28,1%
Spread / Average Target 15,3%
Spread / Lowest Target -7,35%
EPS Revisions
Managers
NameTitle
Ulf Mark Schneider Chief Executive Officer & Director
Paul Bulcke Chairman
Magdi Batato Executive Vice President-Operations
François-Xavier Michel Marie Roger Chief Financial Officer & Executive Vice President
Stefan Palzer Chief Technology Officer
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