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    SIE   DE0007236101

SIEMENS AG

(SIE)
  Report
Real-time Estimate Tradegate  -  03:59 2022-10-04 pm EDT
105.98 EUR   +5.01%
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U.S. business borrowing for equipment falls 1% in June - ELFA

07/25/2022 | 03:02pm EDT

(Reuters) - U.S. companies borrowed 1% less in June to finance their investments in equipment compared with a year earlier, the Equipment Leasing and Finance Association (ELFA) said on Monday.

The companies signed up for $10.3 billion in new loans, leases and lines of credit last month, compared with $10.4 billion a year earlier. However, borrowings rose 6% from January.

"Inflation continues to provide a headwind in an otherwise benign economy. The Fed has signaled its resolve to meet these inflationary pressures by steadily increasing short-term interest rates, without throwing cold water on our post-pandemic economic recovery," ELFA Chief Executive Ralph Petta said in a statement.

ELFA, which reports economic activity for the nearly $1 trillion equipment finance sector, said credit approvals totaled 78.1%, up from 76.8% in May.

The Washington-based body's leasing and finance index measures the volume of commercial equipment financed in the United States.

The index is based on a survey of 25 members, including Bank of America Corp, and financing affiliates or units of Caterpillar Inc, Dell Technologies Inc, Siemens AG, Canon Inc and Volvo AB.

The Equipment Leasing & Finance Foundation, ELFA's non-profit affiliate, said its confidence index in July is 46.1%, a decrease from 50.9% in June. A reading above 50 indicates a positive business outlook.

(Reporting by Kannaki Deka in Bengaluru; Editing by Devika Syamnath)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AB VOLVO 4.12% 166.44 Delayed Quote.-23.75%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.06% 0.65034 Delayed Quote.-11.58%
BANK OF AMERICA CORPORATION 4.02% 32.38 Delayed Quote.-32.12%
BRITISH POUND / US DOLLAR (GBP/USD) 1.23% 1.1479 Delayed Quote.-17.70%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.83% 0.74013 Delayed Quote.-8.29%
CANON INC. 3.21% 3281 Delayed Quote.13.50%
CATERPILLAR INC. 4.91% 179.72 Delayed Quote.-20.63%
DELL TECHNOLOGIES INC. 4.06% 37.4 Delayed Quote.-36.12%
EURO / US DOLLAR (EUR/USD) 1.57% 0.99929 Delayed Quote.-13.52%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.11% 0.012285 Delayed Quote.-8.63%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.19% 0.57345 Delayed Quote.-17.80%
SIEMENS AG 5.35% 106.32 Delayed Quote.-33.90%
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Analyst Recommendations on SIEMENS AG
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Financials
Sales 2022 70 324 M 70 086 M 70 086 M
Net income 2022 3 976 M 3 962 M 3 962 M
Net Debt 2022 37 999 M 37 871 M 37 871 M
P/E ratio 2022 21,2x
Yield 2022 4,13%
Capitalization 83 948 M 83 663 M 83 663 M
EV / Sales 2022 1,73x
EV / Sales 2023 1,62x
Nbr of Employees 308 000
Free-Float 88,4%
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Number of Analysts 22
Last Close Price 100,92 €
Average target price 147,83 €
Spread / Average Target 46,5%
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Managers and Directors
Roland Emil Busch President & Chief Executive Officer
Ralf Peter Thomas Head-Corporate Finance, Accounting & Controlling
Jim Hagemann Snabe Chairman-Supervisory Board
Hanna Hennig Chief Information Officer
Bernhard Wardin Head-Technology & Innovation
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