Siemens Price & Technical Analysis - 17 November 2022
SIEMENS JUMPS, SEES RISING RETURNS FROM BULGING ORDERS. SIEMENS AG gained on expectations for higher margins from factory automation equipment and software products next year as order books rise to a record even as the global economy takes a turn for the worse. The shares jumped as much as 8% in early Frankfurt trading, the most since March. Orders during fiscal 2022 climbed 17%, taking the backlog to a record €102 billion ($106 billion), Siemens said Thursday. Siemens said it expects earnings per share to more than double in the year ending September 2023 to a range of around 8.95 euros a share, seeing strong growth in all its main industrial businesses. That confidence underpinned a 6% increase in its annual dividend to €4.25 a share from €4.00. Conspicuously, it forecast that orders would continue to outpace revenue over the last 12 months, a forecast that contrasts markedly with the sharp decline in orders to German manufacturers over recent months. It said its forecast assum...
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