The dividend yield is attractive, the valuations low and the outlook is good for the French telecommunications provider
share price fell 6.4 per cent in 2022. Though the ticker outperformed most equity markets, the stock was impacted by slowing economic activity in Europe, telecom sector weakness and a strong U.S. dollar that dragged the NYSE-listed ADR lower.
Not only is the company a big player in Europe, but it also has significant operations throughout the Middle East and Africa. This reach outside of Europe gives the enterprise great growth exposure to emerging markets. It also provides clients with cybersecurity, cloud storage and even banking services.
These caveats aside, Orange remains a solid dividend stock, and it is possible that owners will see more capital appreciation for the rest of 2023, as the corporation’s valuations are low and could reasonably move higher. Moreover, global equity markets are coming off a bad year, the economic situation in Europe could stabilize and the Euro may continue to rebound versus the U.S. dollar, which would help the U.S. dollar-denominated ADR.
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