Lexmark International CEO Sells $653,659 in Stock (LXK)
Lexmark International (NYSE:LXK) CEO Paul A. Rooke sold 15,649 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $41.77, for a total value of $653,658.73. Following the sale, the chief executive officer now directly owns 78,319 shares of the company’s stock, valued at approximately $3,271,385. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
LXK has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Lexmark International in a research note on Thursday, January 30th. They now have a $41.00 price target on the stock. Separately, analysts at Ned Davis Research upgraded shares of Lexmark International from a “neutral” rating to a “buy” rating in a research note on Monday, December 23rd. Finally, analysts at Barclays upgraded shares of Lexmark International from an “underweight” rating to an “equal weight” rating in a research note on Friday, December 20th. They now have a $37.00 price target on the stock. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $31.14.
Shares of Lexmark International (NYSE:LXK) traded up 1.18% during mid-day trading on Tuesday, hitting $42.73. The stock had a trading volume of 1,425,652 shares. Lexmark International has a 52-week low of $21.65 and a 52-week high of $42.95. The stock has a 50-day moving average of $38.41 and a 200-day moving average of $36.11. The company has a market cap of $2.662 billion and a P/E ratio of 10.35.
Lexmark International (NYSE:LXK) last announced its earnings results on Tuesday, January 28th. The company reported $1.18 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.10 by $0.08. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $929.45 million. During the same quarter in the prior year, the company posted $0.86 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts expect that Lexmark International will post $3.90 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, March 14th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Thursday, February 27th.
Lexmark International, Inc (NYSE:LXK) is a developer, manufacturer and supplier of printing, imaging, device management, managed print services, document workflow, and also provides business process and content management solutions.
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