GEA Reports Good Q2 Results; We Are Positive on Dairy for 2017; Shares Fairly Valued
GEA reported encouraging second-quarter results with 7% organic growth in its order book, which should flow through to revenue growth over the next four to six months, and a revenue rebound from the 3% year-over-year decline in the first half of 2016. Our full-year revenue growth estimate of 3% has been above consensus (2%), but we expect this gap to close with today’s results. Trading at 21 times our 2016 earnings estimate and close to our fair value estimate, we think the shares are fairly val...GEA Group focuses on the development and production of process technology and components for production methods. Co. segments include: GEA Food Solutions, which manufactures machinery for preparing, marinating, processing, cutting, and packaging meat, poultry, and other foods; GEA Farm Technologies, which manufacturers product solutions for milk production and livestock farming; GEA Mechanical Equipment, which concentrates in separators, decanters, valves, pumps, and homogenizers; GEA Process Engineering, which designs and develops of process solutions for the pharmaceutical, and chemical industries; and GEA Refrigeration Technologies, which concentrates in refrigeration technology.
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