Zacks Investment Research Downgrades Diebold Inc. (DBD) to Strong Sell
Diebold Inc. (NYSE:DBD) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday.
According to Zacks, “Diebold Incorporated develops, manufactures, sells and services automated teller machines, electronic and physical security systems, various products used to equip bank facilities, software and integrated systems for global financial and commercial markets. Sales of systems and equipment are made directly to customers by the company’s sales personnel and by manufacturer’s representatives and distributors. The sales/support organization works closely with customers and their consultants to analyze and fulfill the customers’ needs. “
Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. upgraded Diebold from a “neutral” rating to an “overweight” rating and set a $33.00 price target on the stock in a research report on Monday. Pacific Crest restated a “hold” rating on shares of Diebold in a research report on Friday, September 23rd. Finally, Wedbush restated an “outperform” rating and set a $40.00 price target on shares of Diebold in a research report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Diebold presently has an average rating of “Hold” and an average target price of $32.50.
Diebold (NYSE:DBD) opened at 24.45 on Wednesday. The stock has a 50 day moving average of $26.73 and a 200 day moving average of $26.30. Diebold has a 52-week low of $22.84 and a 52-week high of $37.98. The stock has a market capitalization of $1.59 billion, a P/E ratio of 8.00 and a beta of 1.68.
Diebold (NYSE:DBD) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.20 by $0.23. The firm had revenue of $580 million for the quarter, compared to analyst estimates of $594.01 million. Diebold had a return on equity of 19.56% and a net margin of 8.57%. The company’s revenue was down 10.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 EPS. On average, equities research analysts forecast that Diebold will post $1.50 EPS for the current year.
Several large investors have recently modified their holdings of DBD. Point72 Asset Management L.P. acquired a new stake in shares of Diebold during the second quarter worth $34,092,000. Emerald Acquisition Ltd. acquired a new stake in shares of Diebold during the second quarter worth $28,000,000. Renaissance Technologies LLC raised its stake in shares of Diebold by 634.6% in the first quarter. Renaissance Technologies LLC now owns 437,800 shares of the company’s stock worth $12,657,000 after buying an additional 378,200 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Diebold by 27.9% in the first quarter. Royal Bank of Canada now owns 935,235 shares of the company’s stock worth $27,037,000 after buying an additional 204,072 shares in the last quarter. Finally, Tocqueville Asset Management L.P. raised its stake in shares of Diebold by 52.1% in the second quarter. Tocqueville Asset Management L.P. now owns 539,883 shares of the company’s stock worth $13,405,000 after buying an additional 184,885 shares in the last quarter. Hedge funds and other institutional investors own 82.27% of the company’s stock.
Diebold, Incorporated is engaged in the business of financial self-service (FSS) and security solutions. The Company’s segments include North America (NA), Asia Pacific (AP), Europe, Middle East and Africa (EMEA), and Latin America (LA). It offers an integrated line of self-service solutions and technology, including automated teller machine (ATM) outsourcing, ATM security, deposit automation, recycling and payment terminals and software.
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