Diebold Inc. (DBD)(0.2%) (DBD - $33.01 - NYSE) is a global leader in the manufacture and servicing of ATM machines. It also provides security systems and services, primarily to the financial, commercial, government, and retail markets worldwide. In June 2013, Diebold appointed former Hewlett-Packard and Siemens executive Andy Mattes as its new CEO to lead a restructuring and turnaround of its operations. Andy immediately reduced the size of the workforce and is moving to standardize business practices globally to drive efficient operations. Returning margins to historical and peer levels should enable substantial upside for Diebold. At the same time, Diebold is targeting higher-margin growth opportunities that include expanded servicing of ATMs, a broader commercial security presence across verticals, and bank branch automation. Bank branch automation is the opportunity to replace tellers with high-tech ATMs that can handle check deposit and other advanced transactions, with online video support a key enabler. Altogether, we see Diebold as capable of more than doubling earnings over the next four years, while continuing to support a strong dividend.
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