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DBD Mkt Edge - Market Edge Research Equity Research Report...

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Market Edge ® Research Equity Research Report DIEBOLD, INC BUY DBD-$36.91 · Exchange:NYSE June 23, 2008 Recommendation Opinion BUY Opinion Date 3/10/2008 Current Price 36.91 Opinion Price 37.51 Prior Opinion SELL Summary: The positive fundamental factors for DBD outweigh the negatives by a significant margin. The stock represents a good value when compared to other stocks in its industry group and appears likely to experience further price appreciation. DBD's management is effectively managing its total resources to generate profits for the company when compared to industry averages. The company’s long and short term debt ratios are in line with industry averages reflecting a solid financial condition. Operating margins declined last quarter but operating cash flow remains positive. Demand for the company’s products and services has been strong as sales for the last quarter grew 0.76% rising to $628.44 million. Looking forward, the analyst consensus forecast for revenue and earnings for the next two quarters is expected to show improvement versus the prior quarter. Price momentum has recently been soft while the stock has stayed in line with the market when compared to the S&P 500. As long as the positive fundamental outlook does not change, the market should recognize this strength and the stock should be a market performer over the intermediate term. Business Description: Diebold, Incorporated engages in the development, manufacture, sale, installation, and service of automated self-service transaction systems, electronic and physical security systems, and election systems and software worldwide. Economic Sector: Capital Goods Industry: Manf. Specialized Number of Employees: 15,451 Share Information 52-Week Range: $23.07-54.50 Market Capitalization: $2,504 mil Common Shares Outstanding: 66 mil Number of Institutional Shareholders: 560 Shares Held By Institutions: 52 mil % Held By Institutions: 79.79% Dividend: $1.00 Dividend Yield: 2.54% Last Stock Split 3 for 2 Last Split Date: 2/20/1997 Book Value Per Share: $16.24 EPS Estimate 2008: $2.02 EPS Estimate 2009: $2.64 P/E on Estimate 2008: 18.27 P/E on Estimate 2009: 13.98 DIEBOLD, INC Pg. 1
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Analysis Quarter EPS 2007 2006 2005 Q1 -0.09 0.17 0.39 Q2 0.26 0.44 Q3 0.45 0.19 Q4 0.41 0.15 Year 1.29 1.17 Annual EPS $ Yr. Over Yr. Growth % 2006 1.29 10.26% 2005 1.17 -53.75% 2004 2.53 5.42% 2003 2.40 31.15% 2002 1.83 Revenue mil$ Yr. Over Yr.
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