Puig’s shares lost 1.9% in Tuesday’s session and remained the most bearish company on the Ibex 35. Furthermore, in recent days Morninstar, which is one of the analysis firms that monitor its behavior on the stock market, has worsened his recommendation and changes the advice from buying to holding. Furthermore, in recent days Morninstar, which is one of the analysis firms that monitors its behavior on the stock market, worsens its recommendation and changes the advice from buy to hold.
This correction is the fourth consecutive that the company’s shares have suffered. premium beautywhich remains just over 7% from the price lows it reached in October, at 18.67 euros.
Last Wednesday, Puig soared 10% on the stock market after presenting the results for the third quarter of the year, which represented the largest increase in a single session in its short stock market life. The company reported sales growth of around 12% year-on-year in the third quarter of the year, essentially driven by the good performance of the fragrance segment (11% growth), raising quarterly revenues to 1,257 million euros. 3,428 million euros in the first nine months of the year. In addition, the company confirmed its sales growth targets in the high single digits.
“Management is confident in the underlying growth of the prestige beauty market in fiscal 2025 (6-7%), which should support market expectations. Despite the strong third quarter results, we expect limited changes in the consensus expectations for fiscal year 2024. More importantly, we believe that the third quarter results mark a strong turning point in Puig’s results after the weak first half, which should help reinforce investor confidence in the management of the fourth quarter of 2024 and 2025”, they explain in a report from JP Morgan.
Puig has just completed its sixth month as a listed company, since it was last May 3 when the Catalan firm kicked off the Continuous Market, with a price of 24.5 euros per share. Thus, it only took Puig two months to be part of the national index par excellence, the Ibex 35, and on July 22 he became part of the reference instead of Meliá.
The company followed the trend of the European luxury segment, which lost 1.7% yesterday, which is the largest drop in the last month. In the year, Puig already corrects 18% and is among the most bearish firms in the index.
#Puig #fights #stay #euros #days #red
