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N100:RNO, Feb 21, 08:35 UTC

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Sunday, February 16


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Renault (EPA:RNO) PT Set at €62.00 by Royal Bank of Canada – Enterprise Echo

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Renault (EPA:RNO) received a €62.00 ($72.09) price objective from research analysts at Royal Bank of Canada in a note issued to investors on Friday, Borsen Zeitung reports. JPMorgan Chase & Co. set a €42.00 ($48.84) price objective on shares of Renault and gave the company a “buy” rating in a research report on Friday. Nord/LB set a €45.00 ($52.33) price objective on shares of Renault and gave the company a “sell” rating in a research report on Friday, October 18th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. Renault has a consensus rating of “Hold” and an average price target of €54.31 ($63.15).

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Friday, February 14


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Renault: With profitability in mind, Renault plans slew of initiatives in India

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Renault, which is present in the country for over 8 years now with a market share of less than 3%, aims to bring in products in the fast selling segments to shore up volumes and enhance market share in the 3 million strong Indian passenger vehicle... By PTI | Feb 14, 2020, 06.38 PM IST. He was replying to a query on the measures the company was planning take to ensure steady growth in India. Elaborating on steps being taken to enhance presence in smaller towns, Mamillapalle said the company is taking various initiatives, including taking care of service needs in such areas by having mobile workshops. With a new product coming later this year in the volume segment, the company also expects the condition of its dealer partners to become better. When asked if all these measures would help the company move towards profitability in India, Mamillapalle said: "Off course, that is the whole objective".

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Renault plans $2.2 billion 'no taboos' cost cutting after first loss in a decade

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Renault plans $2.2 billion 'no taboos' cost cutting after first loss in a decade. PARIS — Renault's first loss in a decade triggered a no-taboos commitment on Friday to cut costs by 2 billion euros ($2.2 billion) over the next three years as the automaker tries to put the Carlos Ghosn affair behind it. As ex-Volkswagen brand manager Luca de Meo prepares to take over as chief executive of the French automaker, which has been rocked by the Ghosn scandal, it did not exclude job cuts in a promised review of its performance across all factories. Like many auto industry rivals, including its alliance partner Nissan, Renault is grappling with tumbling demand in key markets like China, and said it expects the sector to be hit further this year, including in Europe. In a reflection of this sobering assessment of the market outlook, Renault set a lower operating margin target of between 3% and 4% for 2020, down from 4.8% in 2019, and cut its proposed dividend against 2019 by almost 70% from a year earlier. While Renault faces high investment costs to produce cleaner car models and supply chain problems due to China's coronavirus outbreak, a major challenge remains moving on from the scandal involving former boss-turned fugitive Ghosn, which strained its relations with Nissan and paralyzed joint projects.

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Renault’s profit plunged 99% last year. Nissan was only partly to blame

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Renault turned in its worst financial performance in a decade in 2019 as plunging margins in its core business and a dramatic slump in contributions from alliance partner Nissan wiped out its earnings. Tensions within the alliance have coincided with an extended sales slump in China that threatens to keep the global car industry in recession for a third consecutive year in 2020. Clotilde Delbos, the company’s acting CEO, said in a statement that “visibility for 2020 remains limited due to expected volatility in demand, notably in Europe … and the possible impacts of the Corona virus.”. Yet Delbos said she was confident that a reboot of the alliance with Nissan will help improve the company’s fortunes. The Japanese company reported Thursday that its operating profit fell to 54.3 billion yen ($495 million) for the three months ended in December, a decline of 83% compared to the same period a year earlier.

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Renault's 2020 vision clouded as 'tough' year leads to first loss in a decade

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Renault interim CEO Clotilde Delbos poses before the French carmaker Renault's 2019 annual results presentation at their headquarters in Boulogne-Billancourt, near Paris, France, February 14, 2020. PARIS (Reuters) - Renault reported its first loss in a decade and cut its 2020 margin target on Friday, as it attempts to draw a line under the Carlos Ghosn affair and reboot its Nissan alliance. "It has been a tough year for Groupe Renault and the alliance," acting Chief Executive Clotilde Delbos told a conference call, adding that the broader autos downturn had hit the company "right when we were facing internal difficulties." Renault set a 2020 operating margin target of between 3% and 4%, down from 4.8% in 2019, and sliced its proposed dividend against 2019 by almost 70% from a year earlier.

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Stocks - Europe to Edge Higher, Helped by Banks; Renault Drags

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Investing.com - European stock markets are set to edge higher Friday, helped by gains in Asia overnight and better-than-expected bank earnings in both the U.K. and France. China’s Hubei province, the region at the epicenter of the coronavirus, reported almost 5,000 new cases, suggesting the surge to nearly 15,000 reported a day earlier was down to a new method for counting infections. At 2:10 AM ET (0710 GMT), China’s benchmark Shanghai index traded 0.4% higher, the Hang Seng in Hong Kong up 0.3%, while the KOSPI in South Korea closed 0.5% higher. Additionally, gold futures fell 0.1% to $1,578.15/oz while EUR/USD traded at $1.0840, just off the $1.0828 low seen over night, the lowest level since early 2017.

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Renault sets lower profit goal in crunch reboot year

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(Reuters) - French carmaker Renault (RENA.PA) on Friday posted its first profit loss in 10 years and set a lower operating margin goal for 2020, a crunch year for its planned reboot alongside partner Nissan (7201.T) after a scandal surrounding former boss Carlos Ghosn. The company is trying to move past internal turmoil with a management shake-up, but it is also grappling like some peers, including Japan's Nissan, with tumbling auto demand in some key markets like China. Renault made an annual profit loss of 141 million euros ($153 million) - its first in 10 years - for the group share of net income, penalized by charges linked to some of its Chinese joint ventures and as Nissan's contribution shrank. The company set an operating margin target for this year of between 3% and 4%, down from 4.8% in 2019, and sliced its proposed dividend against 2019 by almost 70% from a year earlier.

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Renault cuts dividend, slices profit goal for 2020

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Visit our Privacy Policy to learn more or manage your personal preferences in our Cookie Consent Tool. (Reuters) - French carmaker Renault warned that auto demand remained volatile, cut its dividend for 2019 and set a lower operating margin goal for 2020, a crunch year in which it wants to reboot its partnership with Japan's Nissan. The company posted an annual profit loss of 141 million euros (£117.3 million) - its first in 10 years - for the group share of net income, penalised by charges linked to some of its Chinese joint ventures and as Nissan's contribution shrank. It set an operating margin target for this year of between 3% and 4%, down from 4.8% in 2019.

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Renault sales and earnings drop in tough market – The Seattle Times

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February 14, 2020 at 12:49 am | Updated February 14, 2020 at 1:03 am. PARIS (AP) — France’s Renault saw its sales and earnings drop last year and says 2020 will be tough due to the need for investment in new technologies at a time when the market is shrinking. The company sold 3.8 million vehicles last year, down 3.4%, with revenue dropping about the same rate to 55.5 billion euros. That almost wiped out its net earnings, which amounted to just 19 million euros last year compared with 3.4 billion euros a year earlier.

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Thursday, February 13


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Renault sales and earnings drop in tough market

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PARIS (AP) - France's Renault saw its sales and earnings drop last year and says 2020 will be tough due to the need for investment in new technologies at a time when the market is shrinking. That almost wiped out its net earnings, which amounted to just 19 million euros last year compared with 3.4 billion euros a year earlier. Those uncertainties include EU limits on car emissions, which will require car companies to sell more battery-powered vehicles, as well as the impact of the new virus in China. Renault, which is in a global alliance with Japan's Nissan and Mitsubishi, said it expects the European car market to shrink 3% this year.

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