QUOTATIONS
Italian post
The profit-season machine also turns on in Piazza Affari. In the coming weeks, the calendar is full, and Poste is one of the big names in the Ftse Mib
The season of accounts has officially started in Piazza Affari. In these hours, numerous Ftse Mib companies have released the numbers for the third quarter and 9 months of 2021. For Poste Italiane the results will be published on 11 November. The stock of the group led by Matteo Del Fante travels to an all-time high, with a positive performance in one year (approximately + 68%) and approximately + 15% in six months.
According to analyst consensus estimates following the Poste Italiane share (published on the company’s website), total revenues should amount to € 2.742 billion in the third quarter of 2021. In detail, revenues for correspondence, parcel and distribution services are expected to reach 842 million, while of Payment and mobile services to 213 million, those of financial services to 1,267 billion and finally those of insurance services to 419 million. The quarterly net profit, again according to consensus estimates, should be 389 million and Ebit 538 million.
In recent days, the analysts of Barclays they focused on Poste Ialiane, confirming the overweight recommendation and the target price of € 14. In view of the accounts, the experts of the English bank indicate a profit of 385 million. “We see confirmation of the shift of focus on revenue expansion, with turnover seen at 2.7 billion (-1% on a quarterly basis, + 6% on an annual basis), with Ebit at 553 million. Barclays does not expect a significant revision of the business plan.
The technical point on Poste (by the FOL study office)
Poste Italiane, which presents an upward-looking graph, hit a new all-time high at 12.73 euros on Wednesday. Then some profit-taking took place that led the stock to the test of the short-term support at 11.36 euros. The breaking of this level could open to further declines with a target of 12 and 11.63 euros, the price area where the bullish trend line built on the lows of October 2020 and then confirmed in January of this year passes. On the upside, however, we cannot exclude a new assault on new records in the 13 euro area and then targets to rise. RSI, which has not entered overbought with the previous highs, indicates that there is still room for prices to rise.