Lexmark International Given “Neutral” Rating at Zacks (LXK)
Lexmark International (NYSE:LXK)‘s stock had its “neutral” rating restated by Zacks in a note issued to investors on Friday, AnalystRatingsNetwork reports. They currently have a $44.00 price target on the stock. Zacks‘s price target would suggest a potential upside of 4.24% from the stock’s previous close.
Zacks’ analyst wrote, “Lexmark’s first-quarter results were better-than-expected wherein both the top and bottom lines beat the Zacks Consensus Estimate despite declining on a year-over-year basis. Guidance for the second quarter was tepid, reflecting the Inkjet exit and macro uncertainty. Though synergies from the acquisitions and renewed focus on the software space could set it back on the growth trajectory, their impact on results could still take some time to materialize. Moreover, constant pricing pressure from competitors such as Canon Inc., Xerox and Hewlett-Packard Co. and a high debt burden remain concerns. Thus, we maintain our Neutral recommendation on Lexmark.”
Shares of Lexmark International (NYSE:LXK) traded down 1.45% during mid-day trading on Friday, hitting $41.60. 523,094 shares of the company’s stock traded hands. Lexmark International has a one year low of $27.49 and a one year high of $47.98. The stock has a 50-day moving average of $44.5 and a 200-day moving average of $38.70. The company has a market cap of $2.561 billion and a price-to-earnings ratio of 10.35.
Lexmark International (NYSE:LXK) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.92 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.87 by $0.05. The company had revenue of $877.70 million for the quarter, compared to the consensus estimate of $855.80 million. During the same quarter last year, the company posted $0.88 earnings per share. Lexmark International’s revenue was down .7% compared to the same quarter last year. Analysts expect that Lexmark International will post $3.92 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.41%.
Separately, analysts at Citigroup Inc. reiterated a “sell” rating on shares of Lexmark International in a research note on Wednesday. They now have a $36.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $32.43.
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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