|Bid||158.44 x 44200|
|Ask||158.48 x 100000|
|Day's range||156.54 - 159.22|
|52-week range||93.67 - 161.02|
|Beta (5Y monthly)||1.17|
|PE ratio (TTM)||20.71|
|Earnings date||10 Aug 2023|
|Forward dividend & yield||4.25 (2.71%)|
|Ex-dividend date||10 Feb 2023|
|1y target est||140.00|
German conglomerate coordinating letter of support for crisis-hit UK lobby group ahead of vote of confidence on Tuesday
Siemens Energy is considering setting up production in the United States to help modernise the country's power grid, keen for a slice of what is expected to be a multitrillion-dollar market following the Inflation Reduction Act (IRA). The deliberations are part of a broader rethink at the German power conglomerate to expand its foothold in the United States, where it makes 15% of sales, as favourable regulation is providing a boost to renewables and hydrogen capacity that requires state-of-the-art energy networks. It also comes at a time when the United States and Europe are drawing up competing plans to make it more lucrative for industry, ranging from utilities to steelmakers, to expand businesses despite soaring energy and raw materials costs.
Investing.com -- Deutsche Bank has raised its price target for Siemens (ETR:SIEGn) (OTC:SIEGY) shares by €10 to €185 (€1=$1.0776) in a statement released on Wednesday. This results in an earnings potential of around 19%, based on yesterday's closing price.
The following three international companies have great exposure to exciting growth trends and each has shares traded as American depositary receipts (ADRs). This makes it easy for investors to buy into German industrial giant Siemens (OTC: SIEGY), French industrial software company Dassault Systemes (OTC: DASTY), and Swedish mining and engineering equipment company Sandvik (OTC: SDVKY). This industrial company recently raised its full-year 2023 guidance for revenue growth and earnings, making the second raise this year.
FRANKFURT (Reuters) -German power equipment and service group Siemens Energy is close to selling its minority stake in a Spanish wind turbine towers joint venture to British fund Bridgepoint, two people familiar with the matter said. Siemens Energy Chief Executive Christian Bruch said this week that the company was looking to exit "peripheral" activities in the supply chain, most notably where it is only a partial owner. Supply chain problems, competition and soaring raw materials prices have made manufacturing wind turbine components challenging in recent years, despite demand from governments banking on wind energy to wean themselves off fossil fuels.
(Reuters) -Siemens raised its full year sales and profit guidance on Wednesday after the German engineering and technology group beat sales forecasts during its second quarter. The maker of products ranging from trains and industrial software was in confident mood, boosted by its enormous order book which continued to expand, and a further easing in supply chain bottlenecks. Continued strong demand also helped its factory automation and smart buildings divisions to their highest ever quarterly profit, while the mobility business, which encompasses trains, rolling stock and transport systems, returned to profit after last year's hit from the group's withdrawal from Russia.
(Reuters) -European stocks climbed on Monday as investors assessed uncertainties around U.S. debt ceiling talks and a runoff election in Turkey, while parsing data for clues on the state of the global economy. The pan-European STOXX 600 index closed 0.3% higher, after hitting a two-week high during the session. The benchmark index has largely traded in a tight range this month as investors seek hints on how long major central banks will keep hiking interest rates to tame inflation.
Does Siemens AG (SIEGY) have what it takes to be a top stock pick for momentum investors? Let's find out.
Siemens Energy has signed a $200 million deal with Brazil's Eletrobras to modernize a key electricity transmission line that runs from the gigantic Itaipu hydroelectric plant, a Siemens executive told Reuters. The project, worth some 1 billion reais ($199.87 million) and expected to be completed by 2026, will upgrade over 800 kilometers of the energy transmission line that connects the Itaipu plant with the key states of Sao Paulo and Parana. The move to upgrade the line, operated by Eletrobras subsidiary Furnas, is needed as Brazil is increasing its generation of wind and solar power, said Andre Clark, Siemens Energy vice president for Latin America.
U.S.-German medical device maker Siemens Healthineers on Wednesday said it was discontinuing its heart surgery robot business as it posted a 30% drop in second-quarter operating profit on shrinking demand for COVID-19 tests. The group said it would take a 329-million euro ($362 million) writedown on the robot-assisted endovascular cardiology business, which it acquired as part of the 1 billion-euro Corindus acquisition in 2019. The "use of Corindus robots for cardiology operations did not fulfill our expectations," Chief Financial Officer Jochen Schmitz said on a press call.
The concurrent trends of grid modernization and the "electrification of everything" are arguably still in their early innings. The results and earnings momentum of some of the leading players in the field, including General Electric (NYSE: GE), ABB (NYSE: ABB), and Siemens (OTC: SIEGY), are excellent, and there's a host of other smaller companies to consider investing in for more pure-play exposure. In truth, GE, ABB, and Siemens are far too large to have the needle moved on their earnings by their electrification exposure alone.
THE HAGUE, The Netherlands, April 26, 2023--Siemens Netherlands and Infinite Acres, the technology company of 80 Acres Farms, are one step closer to building a vertical farming Field-Lab and Experience Center in The Hague, featuring Siemens technology and services. The two companies have signed a Memorandum of Understanding (MoU) in which they agreed to jointly open a multi-part research center at Infinite Acres’ headquarters in The Hague.
SIEGY vs. GWW: Which Stock Is the Better Value Option?
WOR, RYI, ANVS, ACLX and SIEGY have been added to the Zacks Rank #1 (Strong Buy) List on April 21, 2023.
RYI, WOR and SIEGY made it to the Zacks Rank #1 (Strong Buy) value stocks list on April 21, 2023.
WOR, RYI and SIEGY made it to the Zacks Rank #1 (Strong Buy) income stocks list on April 21, 2023.
Siemens Energy has won contracts worth almost 7 billion euros ($7.68 billion) as part of a consortium with Spain's Dragados Offshore to transport wind farm power to northern Germany, the German company announced on Thursday. Under the deal with Dutch electric grid company TenneT, the companies will supply technology for three offshore grid connections in the North Sea, Siemens Energy said in a statement. The grid connections, named BalWin3, LanWin2, and LanWin4, will transport a total of of 6 gigawatts (GW) onshore using high-voltage direct current (HVDC) transmission technology, according to the statement.
Oracle (ORCL) and Zoom enter a partnership to connect patients and their records with doctors seamlessly.
Luxembourg-based Freyr Battery sealed its partnership with Siemens at the Hannover Messe conference on Monday, making the German technology company its preferred supplier in automation and digitalization technology. Freyr plans to equip its planned gigafactories in Norway and the United States with Siemens technology, and the two companies will join forces along the entire battery design and manufacturing process, the firms said in a statement. "This relationship is much broader than the usual customer-supplier relationship and is strategic in nature," Freyr chief executive Tom Einar Jensen told Reuters.
Germany's engineering firm Siemens wants to raise the share of software and digital business sales in the group to around 20% in the long term, its Chief Executive Roland Busch was quoted as saying as the company seeks growth in that market. Busch said he was very confident that the company could reach its target of digital growth of more than 10% this year, despite the ongoing switch to a "Software-as-a-Service" rental model. "We have gained new customers and additional sales, especially from small and medium-sized companies, via the Siemens Xcelerator platform," Busch was quoted as saying by Handelsblatt newspaper on Wednesday.
Siemens AG (SIEGY) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Leonardo and Siemens on Thursday said they signed a memorandum of understanding to offer cybersecurity solutions for infrastructure in the energy, oil and gas and industrial sectors. "The main area of intervention will concern the resilience against accidents and cyber attacks to automation and connectivity systems that monitor and supervise assets, equipment and processes of critical infrastructures," they said in a joint statement. The Italian aerospace group and German technology company will aim to offer "complete protection" from threats on infrastructure, which could have serious impact on "essential" public services.
Demand for automation will likely stay strong, even during an economic slowdown, because it enhances productivity. In addition, after a few years where industrial companies have struggled with overly complex supply chains stretched across far-flung corners of the world using multiple suppliers, it makes sense to invest in technology that makes it easier to re-shore production. It's no secret that growth is slowing in 2023, and that's usually bad news for automation companies that rely on their customers' capital spending plans -- which are among the first things that tend to get cut in a slowdown.
Siemens has launched an investigation after Der Spiegel reported a former programmer from Russian IT company NTC Vulkan - which has reported links to Russian security services - worked for the German engineering and tech company. The German news magazine said the worker was now employed by Siemens in Munich. Der Spiegel reported on Friday that more than 90 former staff of NTC Vulkan worked for a several other European companies.
Artificial intelligence (AI), machine learning, automation, and the industrial internet of things (IIoT) are all centered around using technology to improve processes and drive efficiency. Robotics can incorporate all four of these technologies. In many cases, companies invest in robotics by collecting and managing data and then applying that data to automate repetitive processes.