Monday, January 25, 2021
Home Covid-19 ACS resumes the price prior to Covid-19 with losses of 16.5%

ACS resumes the price prior to Covid-19 with losses of 16.5%

ACS has just closed two more than important contracts in #Australia. #Specifically, its subsidiary #Cimic has achieved two operations totaling 488 million euros with the #Aussie telecommunications company #Telstra and the #Anglo #American’s #Metallurgical #Coal.

#While advancing its divestment policy. #On the one hand, it has sold its last toll road in #Portugal, #Baixo #Alentejo, to #Vauban for a figure that could be around 100 million euros. #On the other, also in #Australia, closes the operation announced in #October with the sale of 50% of the #Thiess mining company to the #British #Elliot for an amount that will mean a gross income of 1,150 million euros.

#If we look at the value from the inside, we see that in its price graph it returns to levels lost since #February, only registered momentarily at the end of #November, consolidating the 27.30 euros per share. #This means that it remains positive in #December with an advance of%. #In fact, since the vaccine rally, the value has recovered consistency in the market and capitalization that is already around 8,500 million euros. #While, about to close 2020 remains negative, with losses since #January 1 of 16.5%.

ACS Quote

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“The price registers a relative maximum at 28.19 euros, a level very close to the bottom downward guideline, a reference that technical reached with a reduction in contracting activity. #In this context, consolidation symptoms accumulate that allow the start to normalize accumulated overbought readings in oscillators, a process that for now does not alter the growing structure of the fund.

ACS on daily chart with average amplitude range in percentage, MACD oscillator and trading volume

ACS technical analysis

#If we pay attention to what our premium technical indicators provide us, we see that ACS reaches, in bullish mode and improvement by one point, a note of 8 out of a total score of 10. #On the favorable side, the upward trend in the medium and long term stands out, the total slow and fast positive moment and the long-term increasing volume. #On the other hand, the volume in the medium term is decreasing and the range of amplitude, in the medium and long term, remains increasing.
“In a valuation by ratios and based on the average market results forecast for the end of 2020, the market undervalues ​​the company. #With growth margin by multiples, PER 9.78vv, compared to a historical average ratio for the group of 10.89v and a half for the 24v #Ibex 35. #Discount for P / sales and very moderate EV / EBITDA multiple, <4v ”, says #María #Mira.
#And it also highlights that “based on the forecast for 2021 results, with an expected EPS of € 2.57 / share, the PEG ratio remains very controlled, showing the potential of the value in the medium / long term. #Also coupled with a very remarkable yield on dividend-Yield (#Yield> 8.5%). #Based on our fundamental valuation we are positive with the value in the medium / long term ”.

ACS fundamental analysis

“Among the risks to value, the fundamental analyst at #Ei points out the risk due to stiff competition from large #Asian construction groups (mainly #Chinese) that are strengthening in #Latin #America and hindering ACS’s growth in that region. #Also noteworthy is the currency risk, which has eaten € 717 million in revenue up to #September, 75 million from EBITDA and € 20 million in net income ”.

#And the expert adds another “of course, the main point of uncertainty and risk is in the evolution of the COVID-19 pandemic, which is still far from being controlled. #Abertis is the business most impacted and contributes 25% of sales to the group ”.
#While on the positive side, #María #Mira highlights “a solid balance sheet, with a controlled debt and a dividend that for the moment is not in danger.”

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#ACS #resumes #price #prior ##Covid19 #losses


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