German stock report - Bayerische Motoren Werke AG

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Bayerische Motoren Werke increases - at bullish turning point October 17, 2017 20:00 CEST

NEWS BITES - EUROPE

Bayerische Motoren Werke AG (ETR:BMW) has reached a bullish turning point. The P/MAP [Price/Moving Average Price] was previously below 1 and falling. These were bearish indicators. Both indicators are now bullish with P/MAP greater than 1 and MAP rising. The price to 200-day MAP ratio is 1.06, a bullish indicator. In the past 200 days this ratio has exceeded 1.06 71 times suggesting further upside. The stock is trading above both its MAPs and the 50-day MAP of EUR84.85 is higher than the 200-day MAP of EUR82.81, a bullish indicator. The 200-day MAP has increased to EUR82.81. An increase is another bullish indicator. The stock price has increased 36.0c (0.4%) from its last trading session of October 16 to close at EUR87.44. Compared with the DAX Index which fell 8.6 points (0.07%) in the day, the relative price increase was 0.5%.

BAYERISCHE MOTOREN WERKE ISSUED 5 NEW PATENTS IN THE WEEK OF OCTOBER 17, 2017

Bayerische Motoren Werke (BMW) has been issued 5 new patents by the USPTO and EPO.

Highlights in today's Report:

SECTION 1 BULLISH SIGNALS

Fundamentals, Technicals, High Performance Indicators

SECTION 2 BEARISH SIGNALS

Fundamentals, Technicals, Low Performance Indicators

SECTION 3 PRICE VOLUME DYNAMICS

Momentum, Moving Annual Return, Beta

SECTION 4 RANKING

Global, Independent Ratings

SECTION 5 FINANCIALS

Financials Summary, Annual Report for the year ended December 31, 2016 (year-on-year comparisons with previous corresponding period)-, Trailing 12 Months Dividends

SECTION 6 PROFILE

Activities, Top Management, Issued Capital

SECTION 7 PATENTS

SECTION 8 STOCK BUZZ

SECTION 1 BAYERISCHE MOTOREN WERKE BULLISH SIGNALS

1.1 Fundamentals:

+ The P/E of 8.4 multiplied by the P/NTA of 1.4 is 11.4. Being less than the Benjamin Graham benchmark of 22.5 the stock appears undervalued.

+ The relative yield of the stock, defined by its yield of 4%, divided by average yield of dividend yielding stocks in the DAX Index of 2.0% is 200.0%. This suggests the stock is undervalued in dividend yield terms.

+ Tobin's Q Ratio, defined as MCap divided by Total Assets, is 0.3. Compared with the rest of the market the stock is undervalued and ranks in the top quartile of stock by value of Q Ratio.

+ The company is cash rich with Cash to Market Capitalisation at 13.4%.

+ Interest cover defined by EBIT/I is 20.8 times. This indicates it is less leveraged.

+ Brandirectory have estimated Bayerische Motoren Werke brand value at EUR19.8 billion (US$23.2 billion). The Brand Value represents an impressive 13.4% of the estimated Enterprise Value of EUR147.3 billion (US$173 billion).

+ As per the Du Pont analysis, Return on Equity of 14.8% is better than sector average of 9.1%. This is computed as net profit margin of 7.3% times asset turnover [sales/assets] of 0.5 times leverage factor [total assets/shareholders' equity] of 4.0.

1.2 Technicals:

Uptrend: The stock rose on high volatility today and expanding price range.

+ The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 87.29 minus the 26-day EMA of 85.94 is positive 1.36 suggesting a bullish signal. Both EMA prices are rising, another bullish signal.

+ The 2.1% discount to 12-month high of EUR89.35 against the 23.9% premium to 12-month low of EUR70.55 suggests the stock continues to push for new highs.

+ In the last three months the stock has hit a new 52-week high thrice.

+ The present value of EUR1,000 (PV1000) invested one year ago in Bayerische Motoren Werke is EUR1,240, comprising a capital gain of EUR192 and dividend reinvested of EUR48.

PV10001-week1-month1-year
BMW.ETR9891,0331,240
DAX Index1,0041,0311,237

+ The present value of EUR1,000 (PV1000) invested ten years ago in Bayerische Motoren Werke is EUR2,418, including a capital gain of EUR953 and dividend reinvested of EUR465.

+ 10 years Multiplier in EUR = 2.418x

+ Compound Annual Growth Rate (CAGR) in EUR = 9.2%

Present Value of USD1,000 invested 10 years ago:

+ The present value of USD1,000 (PV1000) invested ten years ago in Bayerische Motoren Werke is $US2,000, including a capital gain of $US615 and dividend reinvested of $US384.

+ 10 years ago EUR 1 equalled USD 1.42

+ 10 years Multiplier in USD = 2.0x

+ Compound Annual Growth Rate (CAGR) in USD = 7.2%

Oct 17, 2017: EUR 1 equals USD 1.17

1.3 High Performance Indicators:

DescriptionValueRank In Market
Today's TurnoverEUR8.8 billion (US$10.4 billion)In Top 1%
Interest Cover20.8In Top Quartile
Price/MAP501.03In Top Quartile
Price to Sales0.6In Top Quartile
P/E * P/NTA11.38In Top Quartile
Earnings Yield %11.9In Top Quartile
Revenue Per EmployeeEUR754,941 (US$886,527)In Top Quartile
Price/MAP2001.06In Top Quartile

SECTION 2 BAYERISCHE MOTOREN WERKE BEARISH SIGNALS

2.1 Fundamentals:

+ Total Liabilities/EBITDA of 13.9 which compares unfavourably with the Joseph Piotroski benchmark of 5.

+ Net profit margin has averaged 7.2% in the last 3 years. This is lower than the sector average of 9.4% and suggests a low margin of safety.

2.2 Technicals:

+ The price decreased 1.1% in the last week.

2.3 Low Performance Indicators:

DescriptionValueRank In Market
Total Debt to Equity2.0In Bottom Quartile
EPS Growth %7.7In Bottom Quartile

SECTION 3 PRICE VOLUME DYNAMICS

3.1 Momentum:

+ Volume: there were 101,013,111 shares worth EUR8.8 billion (US$10.4 billion) traded today. In the past week, volume was 0.9 times average and the shares were down 1.1%. The rise has been propped up by firm volume of 1.3 times the average daily volume of 80.1 million shares.

3.2 Moving Annual Return

Based on a dynamic start date of 5 years ago, the Moving Annual Return has been positive in 3 of the last 5 years. An investment a year ago in BMW would have produced a return of 23.9%.

BMWClose (EUR)Dividends (EUR)Capital Gain / (Loss) %% YieldAnnual Return %
Oct 1787.443.519.24.823.9
1 Yr ago73.383.2(12.0)3.8(8.2)
2 Yrs ago83.372.911.43.915.3
3 Yrs ago74.832.6(5.3)3.3(2.0)
4 Yrs ago79.012.535.94.340.2

Close 5 years ago EUR58.15

3.3 Beta:

+ Beta: the Beta of Bayerische Motoren Werke stock is 1.4. A Beta greater than 1 suggests this is a high risk, high return stock with volatility greater than that of the market.

SECTION 4 RANKING

4.1 Global Rank [out of 47,797 stocks] and Rank in the Europe Region [out of 8,438 stocks]

DescriptionValueGlobal RankIn Eur Region
MCap (US$)61.8B19154
Total Assets (US$)222.5B30179
Revenue (US$)112.2B5518
Net Profit (US$)8.1B6711
Return on Equity %14.87,5661,542
Net Profit Margin %7.314,2942,287
Price to Book1.414,4792,458
Price/Earnings8.33,663803
Yield %4.05,9661,078
PV$1000 (1Year) US$*1,32812,9812,789
US$* Change (1Year) %26.913,4502,934

* 1 year ago EUR 1 = USD 1.1

Oct 17, 2017: EUR 1 equals USD 1.17

4.2 Independent Ratings

Bayerische Motoren Werke AG was ranked 7 in Boston Consulting Group's list of Top 50 Most Innovative Companies 2015; an improvement over a year from rank 18 in 2014.

It was ranked 29 by Newsweek and Corporate Knights Capital in the World's 500 Greenest Companies 2016. It had outstanding scores of 12.4% in Waste productivity, 11.9% in Water productivity and 11.2% in Carbon productivity.

It is the 42nd largest by revenue in the FT Global 500.

It is the 52nd largest by revenue in the Forbes Global 2000.

It is placed 391/738 in BSS News Bites' ranking of German performers in the past year, a percentile ranking of 47.

SECTION 5 BAYERISCHE MOTOREN WERKE FINANCIALS

5.1 Financials Summary

Year endedDec 2016Dec 2015Dec 2014
Sales (USD B)112.5110.597.3
Pretax (USD B)11.410.910.3
Net (USD B)8.17.56.9
EPS (EUR)10.459.78.83

Net profit was up 7.8% from US$7.5 billion in 2015 to US$8.1 billion in 2016. Earnings Per Share (EPS) was up 7.7% from EUR9.70 to EUR10.45.

5.2 Annual Report for the year ended December 31, 2016 (year-on-year comparisons with previous corresponding period)-

Favourable Changes:

+ Net profit up 7.8% from EUR6.4b ($US6.9b) to EUR6.9b ($US7.2b)

+ EPS up 7.7% from EUR9.7 ($US10.58) to EUR10.45 ($US11.02).

+ Interest cover up 30.3% from 15.9 to 20.8.

+ Profit before tax to Sales up from 10% to 10.3%.

+ Interest expenses to Sales down from 0.7% to 0.5%.

+ Current ratio up 4.3% from 0.9 to 1.0.

+ Non-current debtors to Total Assets up from 24.3% to 25.5%.

+ Net tangible assets per share up 10.8% from EUR53 ($US57.8) to EUR58.75 ($US62).

Unfavourable Changes:

+ EBIT to total assets down from 5.7% to 5.4%.

+ Sales and marketing expenses to Sales up from 9.4% to 9.7%.

+ Fixed Assets to Total Assets down from 30.6% to 29.6%.

+ Current Debtors to Total Assets down from 18% to 17.5%.

+ Total Liabilities to EBITDA of 13.9 compares unfavourably with the Joseph Piotroski benchmark of <5. This ratio has deteriorated by 5.7% from the previous year's ratio of 13.2.

+ Total Liabilities to Operating Cash Flow of 44.5 compares unfavourably with the Joseph Piotroski benchmark of <4. However, it has improved by 67% from the previous year's ratio of 134.8.

Note:

+ Total revenue steady at EUR95.0b ($US100.2b).

+ EBIT Margin steady at 10.8%.

+ Total revenue to total assets steady at 0.5.

+ Tax expenses to Sales down from 3.1% to 2.9%.

+ Debt to Equity steady at 2.0.

+ Retained earnings to total assets steady at 23.6%.

+ Total non-current assets to Total Assets up from 64.1% to 64.5%.

+ Total current assets to Total Assets down from 35.9% to 35.5%.

5.3 Trailing 12 Months Dividends

Trailing 12 Months ToValue (EUR)
17 Oct 20173.5
17 Oct 20163.2
17 Oct 20152.9
17 Oct 20142.6
17 Oct 20132.5

SECTION 6 BAYERISCHE MOTOREN WERKE PROFILE

6.1 Activities

Bayerische Motoren Werke (BMW) AG manufactures and sells luxury cars and motorcycles worldwide. The Company produces everything from convertible sports cars to luxury sedans to touring motorcycles with large displacement engines.

6.2 Top Management

The chairman is Harald Kruger.

6.3 Issued Capital

Based on 601,995,000 issued shares the market capitalisation is EUR52.6 billion (US$61.8 billion).

SECTION 7 BAYERISCHE MOTOREN WERKE PATENTS

Issued October 17, 2017

Injection device for an internal combustion engine [9,790,907]

The invention relates to an injection device for an internal combustion engine, comprising a needle and an armature, which is operatively connected to the needle in such a way that a movement of the needle can be produced by movement of the armature, the armature having at least one passage bore, through which fuel can be conducted to a needle tip, characterized in that a longitudinal axis of the needle and a longitudinal axis of the passage bore are oriented askew in relation to each other.

Motorcycle, toy, and/or replicas thereof [D800,023]

e (BMW) has been issued a new U.S. design patent titled "Motorcycle, toy, and/or replicas thereof" by the US Patent and Trademark Office. The patent number is D800,023 and was issued on October 17, 2017.

CLAIM

The ornamental design for a motorcycle, toy, and/or replicas thereof, as shown and described.

Provision of an efficient environmental map for a vehicle [9,792,819]

A method provides an environmental map for a vehicle, wherein the environmental map represents a section of the environment and includes cells which are each assigned to a subsection of the environment of the vehicle. Each cell is assigned occupancy information which is based on the probability of the presence of an object in the subsection assigned to the cell in question. The vehicle has a group of at least two driver assistance systems which are each configured to adopt an active and an inactive state and which, in the active state require occupancy information concerning sections of the environment which at least do not overlap completely. The method determines the driver assistance system(s) which is(are) in the active state; determines the section of the environment that the environmental map is intended to represent, on the basis of the section(s) about which the driver assistance system(s) in the active state require(s) occupancy information. In particular, the section of the environment that the environmental map is intended to represent includes the section(s) about which the driver assistance system or the driver assistance systems in the active state require(s) occupancy information when in the active state.

Apparatus for controlling an automatically shifting transmission [9,791,042]

The apparatus suppresses manual shifting options in an electronically controlled automatic transmission with a manual mode in the active transportation mode of a motor vehicle by appropriate programming of an electronic transmission control unit. The transmission can be operated only in the automatic mode. Preferably, only the forward gears can be selected in this case, the weakest shift element, in particular the weakest brake or clutch in an automatic transmission, always being closed in the forward gears.

Method and device for operating a head-up display for a vehicle [9,791,289]

Predefined route data for a driving route situated in front of the vehicle in the driving direction are provided. Further, at least one predefined predictive operating variable for the vehicle is provided. A three-dimensional model for a predefined environment of the vehicle is determined as a function of the route data. A graphic element is determined as a function of the three-dimensional model and of the at least one predictive operating variable. A head-up display of the vehicle has a predefined display field. The graphic element is displayed in the predefined display field. The graphic element is determined and displayed such that the graphic element is perceived by a viewer of the display field from a predefined viewing position with direct reference to the real environment of the vehicle.

To view more details on these Patents, click here

SECTION 8 STOCK BUZZ

Corporate Wire

To view Recent Company Headlines, click here

September 13: BMW Group sales achieve best-ever August

Munich. August saw a new record achieved in BMW Group sales with deliveries in the month totalling 169,913 worldwide, a 2.7% increase year-on-year. The company also sold more vehicles than ever before in the first eight months of the year, with a total of 1,571,467 (+4.2%) vehicles delivered to customers around the world.

"When we announced our second quarter results in early August, we reported yet another quarter within our profit guidance and profitability remains our clear focus," said Dr. Ian Robertson, Management Board Member for Sales and Brand BMW.

March 24: Bayerische Motoren Werke announces AGM

Bayerische Motoren Werke has announced its Annual General Meeting will take place on Thursday, May 11.

March 10: Bayerische Motoren Werke announces dividend

Bayerische Motoren Werke today announced a final dividend of EUR3.50 per share. The ex dividend date is Friday, May 12, 2017 and the record date is Monday, May 15, 2017 and it is payable on Tuesday, May 16.

Contact: 49-89-3820

Physical Address: Petuelring 130 Munich, 80788 Germany

State/Province/Country: Germany

Country of Incorporation: Germany

Exchange: Xetra Stock Exchange

ISIN: DE0005190003

DE:BMW; ETR:BMW; GR:BMW; BMWG.DE

PermID: 4295869227

Bayerische Motoren Werke Ag, Bayerische Motoren Werke Aktiengesellschaft

Source: www.BuySellSignals.com