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- Please Change Name John C Forrey
- Richard Hilgert
Raising Delphi Fair Value Estimate to $69 From $66 on New Effective Ta...
We have raised our fair value estimate on the shares of narrow-moat-rated Delphi by $3, to $69. Morningstar now believes that tax reform under the Trump administration is more likely than not. We assumed a 25% statutory corporate tax rate on Delphi’s U.S. pretax income, down from the current tax rate of 35%. Delphi is a United Kingdom resident taxpayer and as such, has averaged a 16.6% effective tax rate since 2012. During the same time frame, while Delphi’s U.S. revenue and assets have aver...
- Please Change Name Timothy L. Harrod
Moody's says Delphi's Plan to Spin-off Powertrain Systems is Credit Ne...
Announcement: Moody's says Delphi's Plan to Spin-off Powertrain Systems is Credit Negative. Global Credit Research- 03 May 2017. New York, May 03, 2017-- Moody's Investors Service said that Delphi Automotive PLC's announcement today that it intends to spin-off its Powertrain Systems segment is credit negative, but does not impact Delphi's Baa2 Senior Unsecured Rating nor stable rating outlook at this time.
- Richard Hilgert
Delphi Reports Solid 1Q Results, Will Spin Off Powertrain in 2018; $66...
Narrow-moat-rated Delphi, which supplies the global automotive industry with electrical and electronic components and systems, reported earnings per share before special items of $1.59 for the first quarter. The result was $0.13 ahead of the consensus and $0.23 higher than the year-ago quarter. Revenue increased 6% to $4.3 billion but would have been 9% higher excluding currency, acquisitions, and divestitures. Adjusted EBITDA margin (before special items, acquisitions, and divestitures) of 16.3...
- Please Change Name Timothy L. Harrod
Delphi Automotive PLC: Delphi's Plan to Spin-off Powertrain Systems is...
CORPORATES ISSUER COMMENT 3 May 2017 RATINGS Delphi Automotive PLC Long Term Rating- Senior Unsecured Baa2 Outlook Stable Source: Moody's Investors Service Contacts Timothy L. Harrod 212-553-4488 VP-Sr Credit Officer [email protected] Robert Jankowitz 212-553-1318 MD-Corporate Finance [email protected] Delphi Automotive PLC Delphi’s Plan to Spin-off Powertrain Systems is Cre
- Richard Hilgert
Delphi FVE Raised to $66 from $62 on Higher Revenue, Margin Expansion,...
We have raised our fair value estimate on narrow moat-rated Delphi to $66 from $62 on slightly higher revenue (roughly $0.80 of the increase) and modestly improved margin assumptions (added approximately $1.80) as well as our DCF model’s time value of money component (added $1.40). We continue to expect Delphi revenue growth to exceed global light vehicle demand by 3 to 5 percentage points resulting from its “safe, green, and connected†technologies for the automotive industry. Unfortunate...
- Please Change Name Harrod
- Please Change Name Harrod
Delphi Automotive PLC: Update Following Upgrade to Baa2
CORPORATES CREDIT OPINION 3 February 2017 Update RATINGS Delphi Automotive PLC Domicile United Kingdom Long Term Rating Baa2 Type Senior Unsecured - Fgn Curr Outlook Stable Please see the ratings section at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Timothy L. Harrod 212-553-4488
Ford Equity US Rating and Forecast Report
Ford Equity Research covers more than 4,000 stocks using a proprietary quantitative model that evaluates a company’s earnings strength, its relative valuation and recent price movement. Ford’s five recommendation ratings include strong buy, buy, hold, sell, strong sell. For all stocks in our coverage universe, ratings are generated each week and reflect the fundamental and price data as of the last trading day of the week.
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
- Richard Hilgert
Delphi 3Q Results Up Double Digits, Guides Slightly Higher; Maintainin...
Narrow-moat-rated Delphi Automotive, the automotive electrical systems, electronics, powertrain components, and safety equipment supplier, reported third-quarter earnings per share adjusted for special items of $1.50, jumping $0.22 from $1.28 EPS reported a year ago and $0.02 ahead of the consensus EPS estimate of $1.48. Revenue rose by 13% to $4.1 billion from $3.6 billion in the third quarter of 2015. Excluding the impact of currency translation, commodity price changes, acquisitions, and dive...
- Richard Hilgert
Delphi and Mobileye Partner to Provide Turnkey Autonomous Driving Syst...
Narrow-moat rated Delphi Automotive and Mobileye (not covered) announced a partnership to jointly develop a turnkey self-driving platform that would readily integrate with a wide variety of vehicle models. The companies expect the complete automated driving system to be available to automakers in 2019. Given the lead time for vehicle development, the partners’ delivery date implies to us that, at the earliest, the turnkey system could potentially be used in 2021 model year vehicles. Our $62 fa...
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