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Research Alert: CFRA Maintains Hold Opinion On Shares Of Diebold Nixdorf, Inc.

05/11/2021 20:18

12:10 AM EDT, 05/12/2021 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our 12-month target price at $15, applying an EV/EBITDA multiple of 6.5x to our '21 estimate, a discount to its three-year historical average multiple at 8.5x, reflecting our slow growth outlook. We trim our '21 EPS estimate by $0.04 to $2.07 and cut '22's by $0.03 to $2.42. DBD reported Q1 operating EPS of $0.44 vs. a loss of $0.34, $0.23 above the consensus. Q1 revenue increased 3.6%, driven by 19.1% growth in the Retail segment on continued strength in self-checkout solutions and mild growth from point-of-sale products, and a 5.6% increase in the Eurasia Banking segment, on higher product volume due to backlog conversion, partially offset by a 9.6% decline in the Americas Banking segment, due to lower product volumes and installation activities. So far component shortages have had a minimal impact on results due to substantial inventory level, but we note it may become an issue for DBD in the coming quarters once it works through excess supply.