|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||47.04 - 47.04|
|52-week range||36.80 - 60.00|
|Beta (5Y monthly)||2.01|
|PE ratio (TTM)||27.44|
|Forward dividend & yield||1.22 (2.59%)|
|Ex-dividend date||03 Jun 2021|
|1y target est||N/A|
French car parts company Faurecia lowered its main 2021 financial targets on Thursday, saying it was adapting them due to the new forecasts for the global automotive market published last week by information provider IHS Markit. Faurecia noted IHS Markit now estimated worldwide car production at 72 million vehicles this year versus 76.8 million previously, adding this sharp reduction was primarily attributable to a higher than expected impact from semiconductor shortages. "Faurecia's financial guidance for 2021 was explicitly based on the assumption of 76.6 million vehicles produced in the full year", the company said.
(Reuters) -Faurecia forecast robust current-quarter sales growth on Monday, after surging sales in China helped the French car parts maker beat market expectations in the first three months of the year. The firm, which supplies car seats, dashboards and fuel systems to automakers, posted double-digit organic sales growth across its major divisions, with an 88% jump in China from the year-earlier period taking sales there to significantly above pre-pandemic levels. In a call with analysts, finance chief Michel Favre noted that car production was still very low compared to 2019, before the pandemic shut factories, restricted travel and triggered a global shortage in semiconductor chips.
Stellantis on Thursday announced distribution of the stake it still holds in auto parts maker Faurecia to its shareholders. Stellantis shareholders will decide on the distribution of the shares and up to 308 million euros ($368.46 million) raised from a previous equity sale in Faurecia, in a meeting on March 8, the group said in a statement. The stake in Faurecia was previously held by the former PSA, which merged with Fiat Chrysler (FCA) earlier this year to create Stellantis, the world's fourth largest car maker.