They were key accounts. The first ones that really began to count since he made his jump onto the trading floor. This Tuesday, Puig presented the results for the third quarter of the year and investors have added to the good smell of its figures. In the first moments of the session, The Catalan company soars 10% on the stock market, its biggest rise in a session in its short stock market history.
The premium beauty company’s sales grew by around 12% year-on-year in the third quarter of the year, essentially driven by the good performance of the fragrance segment (11% growth). increasing quarterly revenues to 1,257 million euros already 3,428 million euros in the first nine months of the year. In addition, the company confirms its sales growth targets in the high single digits.
These results were really relevant because they were the accounts that began to demonstrate the growth of the company after its jump to the stock market and after the previous ones that were burdened by the expenses of the IPO. Investors have not been slow to join in with this good tone of Puig’s accounts and the company soars on the stock market, recovering the level of 20 euros per share and returning to the levels seen at the beginning of September.
“We expect a positive reception both for the acceleration shown in the quarter and for the strength that the Fragrances segment continues to show, with double-digit growth, increased market share and positive comments for the fourth quarter (seasonally the most relevant)”, say from Banco Sabadell. From Jefferies, who advise buying the company’s shares, they also believe that sales are solid and reassuring compared to the results of the first half of the year amid growing nervousness about the growth of the fragrance market.
For their part, Renta 4 alleges that “pthat to the difficulties in Asia-Pacific [allí las ventas apenas aumentaron un 1% a nivel interanual]the company’s limited exposure to the region [representa un 8% de los ingresos] and the good performance of the rest of the markets, with the fragrance business growing by above the beauty market premiumskin care growing by double digits and the makeup sector reaccelerating after the bad data of the second quarter due to stockouts in Charlotte Tilbury (which they hope to complete by the end of the year) Puig’s business shows a sales growth of 9.6% like for like in the nine months of 2024, which allows the management team to reiterate guidance and to be confident about achieving their medium-term objectives.
On November 3, the Catalan firm celebrates six months in the Spanish market. The optimism of the stock market debut (which was the highest in the world in 2024, inaugurating the company with a capitalization of 13.9 billion euros) led its shares to the level of 27.60 euros, compared to 24.50 with those who began their journey on the stock market. However, the disappointment of its second quarter results caused distrust among its investors who undid positions in the company until it fell below even 19 euros. Now, it rebounds about 15% from that minimum that it marked on October 21 and reduces his losses since his bell ring to less than 13%.
Up to five analysts have revised their valuations for Puig’s shares this Wednesday. Grupo Santander, which recently lowered its target price, has increased it again from 27 euros to 27.50. The rest have kept their forecasts for Puig intact and, currently, the average valuation for the premium beauty company’s shares stands at 27.3 euros, which leaves its price an upward potential of 28% for the following months. 82% of experts recommend buying their titles.
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