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    SIE   DE0007236101

SIEMENS AG

(SIE)
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Real-time Estimate Tradegate  -  01:47:38 2023-02-07 pm EST
141.04 EUR   -1.34%
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U.S. business equipment borrowings grew 6% in October- ELFA

11/21/2022 | 03:18pm EST
FILE PHOTO: People enjoy the Manhattan skyline during sunset in New York

(Reuters) - U.S. companies borrowed 6% more in October to finance equipment investments compared with a year earlier, industry body Equipment Leasing and Finance Association (ELFA) said on Monday.

The companies signed up for $11.3 billion in new loans, leases and lines of credit last month, compared with $10.7 billion a year earlier, according to ELFA. Borrowings were up nearly 6% from January.

"We see the economic tightening as an opportunity for carriers to get back on track with normal equipment replacement cycles that have been postponed and explore new verticals." Finloc USA Inc's Chief Revenue Officer James Currier said in a statement.

"Business reorganizations will require lenders to adapt to changing practices and operations," Currier added.

ELFA, which reports economic activity for the nearly $1-trillion equipment finance sector, said credit approvals totaled 77%, marginally down from 77.3% in September.

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 November stood at 43.7%, down from 45% in October. A reading above 50 indicates a positive business outlook.

(Reporting by Nathan Gomes in Bengaluru; Editing by Krishna Chandra Eluri)


ę Reuters 2022
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CANON INC. -0.63% 2914 Delayed Quote.2.70%
CATERPILLAR INC. -2.02% 245.91 Delayed Quote.3.42%
DELL TECHNOLOGIES INC. 1.09% 41.34 Delayed Quote.1.84%
SIEMENS AG -1.47% 140.86 Delayed Quote.10.27%
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Analyst Recommendations on SIEMENS AG
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Financials
Sales 2023 75 784 M 81 366 M 81 366 M
Net income 2023 6 391 M 6 862 M 6 862 M
Net Debt 2023 37 522 M 40 286 M 40 286 M
P/E ratio 2023 18,1x
Yield 2023 3,09%
Capitalization 113 B 122 B 122 B
EV / Sales 2023 1,99x
EV / Sales 2024 1,86x
Nbr of Employees 311 000
Free-Float 88,4%
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 142,96 €
Average target price 156,79 €
Spread / Average Target 9,67%
EPS Revisions
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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