NCR Corporation (NCR) Lowered to Hold at Zacks Investment Research
NCR Corporation (NYSE:NCR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday, June 5th.
According to Zacks, “NCR is one of the world’s leading consumer transaction technology providers. The stock has outperformed the broader sector over the last one year. We believe, NCR’s growing exposure in the self-service kiosk space is encouraging, given the tremendous growth prospects. The company has also been the global leader in self-service ATMs for several years in terms of market share. NCR remains the largest supplier of ATM machines in Asia-Pacific and North America while maintaining its leadership in the Asian and European markets. By 2020, RBR Research expects India to install base similar to the size of the U.S., trailing only China. This creates huge opportunities for companies like NCR. Going ahead, continuous product launches, growing popularity of its self-service offerings and synergies from acquisitions are the catalysts. However, intense competition from peers and a high debt burden remain concerns.”
NCR has been the subject of several other research reports. Benchmark Co. began coverage on shares of NCR Corporation in a report on Thursday, April 13th. They set a “buy” rating and a $55.00 price target for the company. Citigroup Inc. raised shares of NCR Corporation to an “outperform” rating and set a $51.00 price target for the company in a report on Thursday, March 16th. CIBC raised shares of NCR Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, March 16th. Royal Bank Of Canada reissued a “buy” rating on shares of NCR Corporation in a report on Tuesday, March 14th. Finally, TheStreet downgraded shares of NCR Corporation from a “b” rating to a “c+” rating in a report on Thursday, April 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $46.29.
NCR Corporation (NYSE:NCR) opened at 39.15 on Monday. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 27.40 and a beta of 1.91. The company’s 50-day moving average is $40.66 and its 200 day moving average is $42.91. NCR Corporation has a one year low of $25.20 and a one year high of $49.90.
NCR Corporation (NYSE:NCR) last released its earnings results on Thursday, April 20th. The information technology services provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.10. NCR Corporation had a net margin of 4.49% and a return on equity of 88.93%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts expect that NCR Corporation will post $3.37 EPS for the current year.
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In other NCR Corporation news, EVP J. Robert Ciminera sold 3,086 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $42.48, for a total value of $131,093.28. Following the completion of the sale, the executive vice president now directly owns 9,888 shares of the company’s stock, valued at approximately $420,042.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of NCR. BlackRock Inc. increased its stake in shares of NCR Corporation by 7,816.4% in the first quarter. BlackRock Inc. now owns 10,676,674 shares of the information technology services provider’s stock worth $487,709,000 after buying an additional 10,541,807 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of NCR Corporation by 386.3% in the first quarter. Wells Fargo & Company MN now owns 1,987,821 shares of the information technology services provider’s stock worth $90,804,000 after buying an additional 1,579,083 shares during the last quarter. Norges Bank acquired a new stake in shares of NCR Corporation during the fourth quarter worth $52,346,000. Morgan Stanley increased its stake in shares of NCR Corporation by 239.9% in the first quarter. Morgan Stanley now owns 1,000,742 shares of the information technology services provider’s stock worth $45,713,000 after buying an additional 706,292 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of NCR Corporation by 5.7% in the first quarter. Vanguard Group Inc. now owns 12,569,090 shares of the information technology services provider’s stock worth $574,156,000 after buying an additional 674,711 shares during the last quarter. 89.31% of the stock is owned by institutional investors.
About NCR Corporation
NCR Corporation is a provider of Omni-channel technology solutions that enable businesses connect, interact and transact with their customers. The Company operates through three segments: Software, Services and Hardware. It sells a portfolio of hardware, software and services that combine to provide businesses with solutions.
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