Siemens: Oddo provides earnings estimates
(CercleFinance.com) - Oddo expects a 10.
7% operating margin (-40bp) and net profit of 1,133m euros, Orders are expected to be satisfactory at 22.2 billion euros (vs. consensus of 23.8 billion euros) thanks to the PG, EM, MO and SHL divisions, said the broker.
Analysts expect revenue of 20.4 billion euros (bang in line with the consensus), including declining PG and PD, and MO, DF and SGRE significantly higher.
The 2019 annual guidance should be confirmed following Q1: it targets moderate organic sales growth (3-5% estimated by Oddo BHF), a book-to-bill ratio >1x, and an operating margin of 11% to 12% excluding restructuring costs. EPS should be between 6.30 euros and 7.00 euros, excluding severance costs. Comparable 2018 EPS is 6.01 euros. The broker added that this guidance does not seem particularly aggressive or artificially low.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
7% operating margin (-40bp) and net profit of 1,133m euros, Orders are expected to be satisfactory at 22.2 billion euros (vs. consensus of 23.8 billion euros) thanks to the PG, EM, MO and SHL divisions, said the broker.
Analysts expect revenue of 20.4 billion euros (bang in line with the consensus), including declining PG and PD, and MO, DF and SGRE significantly higher.
The 2019 annual guidance should be confirmed following Q1: it targets moderate organic sales growth (3-5% estimated by Oddo BHF), a book-to-bill ratio >1x, and an operating margin of 11% to 12% excluding restructuring costs. EPS should be between 6.30 euros and 7.00 euros, excluding severance costs. Comparable 2018 EPS is 6.01 euros. The broker added that this guidance does not seem particularly aggressive or artificially low.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.