Whoa, Nelly! Hold onto your hats because Renault (tip your cap to EPA:RENA), the big-shot French carmaker, hit a bit of a speed bump. Their shares took a nosedive by 7.5% to EUR33.37 on Thursday. What’s the fuss? Well, they pulled the curtain back on their third-quarter numbers, and while they had a solid boost from last year, they came up a smidge short of the big wigs’ predictions.
Stifel and AlphaValue, the money gurus, said Renault revved up to €10.51 billion ($11.08 billion) this quarter. Sure, that’s a 7.6% climb from last year, but it’s like forgetting the cherry on top – they were off by 1%. The culprits? A combo of selling off more stock and some pesky supply chain speed bumps that have carmakers everywhere breaking a sweat.
But let’s pump the brakes and peek under the hood with some help from our pals at InvestingPro. Renault’s still cruising with a meaty market cap of $9.621 billion. And with a low P/E ratio of 2.92, it seems like their shares are on a bargain rack. Add to that a solid 25.09% revenue growth spurt in the last year, and things don’t look so gloomy!
Despite the rocky road, Renault’s not waving the white flag. They’re revving up for more action in 2023. The folks over at AlphaValue are nodding in agreement, saying, “Yeah, Renault’s hit a pothole, but they’ve got the engine to go the distance.”
From InvestingPro’s bird’s-eye view, Renault’s still a hot rod in the car biz. And guess what? They’ve got the dough to keep shareholders grinning, and there’s buzz they’ll be ringing the cash register this year. If you’re itching for more inside scoops, pop over to InvestingPro’s spot on the web.
So, while Renault’s share price hiccup has raised a few eyebrows, they’ve still got their pedal to the metal. With the engine roaring, renewed goals, and a thumbs-up from InvestingPro, we’re all waiting to see what’s around the bend for this car giant! 🚗💨📉🔧🏁🌍🚀👀🔍🎢🏎️💰🔥🤔