Diebold Nixdorf (NYSE:DBD) Shares Gap Down – Here’s What Happened

Diebold Nixdorf, Incorporated (NYSE:DBD) gapped down before the market opened on Wednesday. The stock had previously closed at $66.68, but opened at $60.48. Diebold Nixdorf shares last traded at $59.88, with a volume of 545,906 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. DA Davidson reissued a “buy” rating and set a $100.00 price objective on shares of Diebold Nixdorf in a report on Tuesday. Weiss Ratings downgraded Diebold Nixdorf from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday. Wedbush lowered their price target on Diebold Nixdorf from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Wall Street Zen cut shares of Diebold Nixdorf from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 1st. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Diebold Nixdorf currently has an average rating of “Moderate Buy” and an average price target of $95.00.

Diebold Nixdorf Stock Down 6.8%

The stock has a fifty day moving average price of $65.43 and a 200 day moving average price of $74.98. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.27 and a quick ratio of 0.83. The stock has a market capitalization of $1.87 billion, a P/E ratio of 25.75 and a beta of 1.19.

Diebold Nixdorf (NYSE:DBD) last issued its quarterly earnings results on Wednesday, October 28th. The technology company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. The firm had revenue of $990.90 million for the quarter, compared to analyst estimates of $971.70 million. Diebold Nixdorf had a net margin of 1.96% and a return on equity of 21.53%. On average, research analysts forecast that Diebold Nixdorf, Incorporated will post 4.68 earnings per share for the current year.

Diebold Nixdorf announced that its board has approved a stock repurchase program on Wednesday, October 28th that authorizes the company to repurchase $250 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 12.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Diebold Nixdorf

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE grew its stake in shares of Diebold Nixdorf by 15.8% during the first quarter. Bank of America Corp DE now owns 122,840 shares of the technology company’s stock worth $9,267,000 after acquiring an additional 16,751 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Diebold Nixdorf in the second quarter valued at approximately $1,516,000. Hennessy Advisors Inc. purchased a new position in Diebold Nixdorf during the second quarter valued at $10,857,000. Ancora Advisors LLC purchased a new stake in shares of Diebold Nixdorf during the second quarter worth approximately $2,651,000. Finally, Bank of New York Mellon Corp acquired a new position in Diebold Nixdorf during the second quarter worth about $14,740,000. Hedge funds and other institutional investors own 97.04% of the company’s stock.

About Diebold Nixdorf

Diebold Nixdorf, Incorporated provides technology, software and services for the banking and retail industries. Its portfolio includes automated teller machines (ATMs), cash-management systems, self-service kiosks, branch-automation solutions and software designed to support transactions, payments and customer interactions.

For retailers, the company offers point-of-sale systems, self-checkout solutions, payment technologies, software and related services. Diebold Nixdorf also provides professional services, maintenance, monitoring and managed services to help financial institutions and retailers operate and modernize their in-person and self-service channels.

The company traces its history to Diebold, founded in 1859, and Wincor Nixdorf, which was established in Germany in 1952.