|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||13.80 - 14.09|
|52-week range||10.15 - 23.91|
|Beta (5Y monthly)||0.90|
|PE ratio (TTM)||13.87|
|Forward dividend & yield||0.64 (4.56%)|
|Ex-dividend date||30 Jan 2020|
|1y target est||N/A|
French catering and food services group Sodexo on Wednesday suspended its annual forecast and said the coronavirus pandemic could impact its annual sales by 2 billion euros ($2.2 billion) (1.82 billion pounds).
Sodexo said it expects French strikes and unrest in Chile and Hong Kong to hit its second quarter results, knocking its shares 2% lower on Thursday. "We do not know yet what the impact of fires in Australia will be," CEO Denis Machuel told a media call. France has seen national protests against President Emmanuel Macron’s pension reform plans, while Hong Kong has been hit by at times violent anti-government protests.
French antitrust body Autorite de la Concurrence on Wednesday fined the main French meal voucher firms nearly 415 million euros (£356.52 million) for preventing rivals from entering the market. The companies targeted were Edenred France, Up, Natixis Intertitres, Sodexo Pass France and La Centrale de Reglement des Titres (CRT), the association that handles reimbursment of meal vouchers for the companies. Edenred, Sodexo and Natixis said they will appeal the decision.
Democratic officials are pushing for an end to a labor dispute that threatens the party's sixth presidential primary debate, scheduled for Thursday on a California university campus. Xochitl Hinojosa, the Democratic National Committee’s communications director and a lead debate organizer for DNC Chairman Tom Perez, said Monday that Perez “spent the entire weekend” urging stakeholders to engage in good-faith, mediated negotiations.
The competition for control of the burgeoning market for burger replacements (and other alternatives to animal proteins) continues to heat up. Beyond Meat and Impossible Foods, the two leading contenders for top purveyor of plant-based patties (and other formulations), have spent most of the typically sleepy summer months jockeying for position as top supplier to a food industry suddenly ravenous for alternatives to traditional meat products. As soon as the first Impossible Whoppers came off the flame broilers at Burger King, Beyond Meat was announcing a new fast food chain supply deal of its own with Subway.
Startups looking to expand the reach of financial services continue to receive a nod from investors. Zeta, a fintech firm that runs a full stack neo-banking platform and offers enterprise payments solutions, said today its valuation reached $300 million in its maiden outside funding. Sodexo BRS funded Zeta’s Series C round to take a minority stake in the company.
Shares in Sodexo slumped on Monday after the French food services group warned the loss of several contracts in healthcare and sports and leisure in North America would weigh on fourth-quarter sales and also impact the start of next year. Chief Executive Denis Machuel nevertheless struck a confident tone over prospects for next year as the world's largest catering services group after Britain's Compass beat market expectations for third quarter sales growth. Sodexo rattled investors' nerves last year after warnings related to weakness in North America, where cost savings have not been as high as expected and several large contracts have taken time to pay off.