TECHNIP : Perfect timing for a technical rebound
In the past few sessions, Technip shares have suffered from a sharp fall and is now coming back on significant level support.
From a fundamental viewpoint, the security is cheap with a PER of 17.18x for 2012 and 13.45x for 2013. Besides, EV/Sales is low with a ratio at 1.01x for this year.
Technically, in daily data, even if moving averages are still in a downtrend, a positive reaction in the EUR 77.45 area should stop this trend and allow a technical rebound towards EUR 82.75. Moreover, technical indicators show a significant oversold condition which strengthens this bullish scenario.
Therefore, the proximity of the EUR 77.45 support is an opportunity to take a long position in Technip. The first goal is a return in the EUR 82.75 resistance area. In fact, the security has to cross this area in order to re-establish a bullish trend in the short term. A stop loss order can be placed under the support currently tested.
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Valuation |
2013e |
2014e |
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PER (Price / EPS)
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15,7x |
12,6x |
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Capitalization / Revenue
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1,03x |
0,91x |
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EV / Revenue
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1,02x |
0,89x |
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EV / EBITDA
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8,11x |
6,60x |
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Yield (DPS / Price)
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2,17% |
2,54% |
| Profitability |
2013e |
2014e |
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Operating Margin (EBIT / Sales)
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10,1% |
11,0% |
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operating laverage (Delta EBIT / Delta Sales)
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1,07x |
1,76x |
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Net Margin (Net Profit / Revenue)
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6,97% |
7,65% |
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ROA (Net Profit / Asset)
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6,35% |
7,40% |
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ROE (Net Profit / Equities)
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15,2% |
16,9% |
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Rate of Dividend
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34,0% |
32,0% |
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