NCR Corp. (NCR) Stock Rating Lowered by Zacks Investment Research
NCR Corp. (NYSE:NCR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Estimates for NCR have gone up since the company raised its full-year revenue guidance and provided an encouraging third-quarter revenue outlook. Further, NCR’s growing exposure in the ATM and self-service kiosk spaces is encouraging, given tremendous growth prospects in the respective markets. Continuous product launches, growing popularity of its self-service offerings and synergies from acquisitions are the catalysts. Continuous deal wins also drive growth. Moreover, NCR strengthened its position in the POS market through the integration of Radiant Systems. However, softness in the ATM business in mature markets, competition from Diebold Incorporated and HP Inc., and a high debt burden remain concerns.”
NCR has been the topic of several other reports. JPMorgan Chase & Co. reissued a “buy” rating and issued a $35.00 price objective on shares of NCR Corp. in a research report on Wednesday, July 20th. Wedbush raised their price objective on NCR Corp. from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Finally, TheStreet raised NCR Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, July 27th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $31.88.
Shares of NCR Corp. (NYSE:NCR) opened at 32.14 on Tuesday. The company has a 50 day moving average price of $32.93 and a 200-day moving average price of $30.55. NCR Corp. has a 12 month low of $18.02 and a 12 month high of $34.99. The firm has a market capitalization of $3.98 billion, a PE ratio of 22.89 and a beta of 1.66.
NCR Corp. (NYSE:NCR) last issued its earnings results on Tuesday, July 26th. The company reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.08. NCR Corp. had a return on equity of 52.33% and a net margin of 3.68%. The firm had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the firm earned $0.66 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts expect that NCR Corp. will post $2.95 EPS for the current fiscal year.
In related news, SVP Andrew S. Heyman sold 16,119 shares of NCR Corp. stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $31.17, for a total value of $502,429.23. Following the completion of the transaction, the senior vice president now directly owns 24,396 shares in the company, valued at $760,423.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrea Ledford sold 6,455 shares of NCR Corp. stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $34.02, for a total value of $219,599.10. Following the completion of the transaction, the executive vice president now owns 93,454 shares of the company’s stock, valued at $3,179,305.08. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC increased its position in NCR Corp. by 0.4% in the second quarter. ProShare Advisors LLC now owns 14,992 shares of the company’s stock worth $416,000 after buying an additional 57 shares during the period. First Allied Advisory Services Inc. increased its position in NCR Corp. by 0.7% in the second quarter. First Allied Advisory Services Inc. now owns 9,250 shares of the company’s stock worth $259,000 after buying an additional 62 shares during the period. Hsbc Holdings PLC increased its position in NCR Corp. by 0.8% in the second quarter. Hsbc Holdings PLC now owns 28,497 shares of the company’s stock worth $792,000 after buying an additional 218 shares during the period. Eagle Boston Investment Management Inc. increased its position in NCR Corp. by 1.1% in the second quarter. Eagle Boston Investment Management Inc. now owns 22,190 shares of the company’s stock worth $616,000 after buying an additional 247 shares during the period. Finally, Mackenzie Financial Corp increased its position in NCR Corp. by 6.2% in the second quarter. Mackenzie Financial Corp now owns 10,731 shares of the company’s stock worth $298,000 after buying an additional 625 shares during the period. Institutional investors and hedge funds own 83.93% of the company’s stock.
NCR Corp. Company Profile
NCR Corporation is a technology company that provides products and services that enable businesses to connect, interact and transact with their customers. The Company operates through four segments: Financial Services, Retail Solutions, Hospitality and Emerging Industries. Its portfolio of self-service and assisted-service solutions serve customers in the financial services, retail, hospitality, travel and telecommunications and technology industries.
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