Traders Purchase Large Volume of Call Options on Lexmark International (LXK)
Shares of Lexmark International (NYSE:LXK) were the target of some unusual options trading activity on Wednesday. Investors acquired 1,083 call options on the company, Analyst Ratings News reports. This represents an increase of 168% compared to the average daily volume of 404 call options.
LXK has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Lexmark International from a “neutral” rating to an “outperform” rating in a research note on Monday, July 28th. They now have a $57.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of Lexmark International from $42.00 to $51.00 in a research note on Wednesday, July 23rd. They now have an “equal weight” rating on the stock. Finally, analysts at Raymond James downgraded shares of Lexmark International from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 23rd. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $44.80.
Lexmark International (NYSE:LXK) traded up 0.83% during mid-day trading on Wednesday, hitting $50.78. The stock had a trading volume of 677,872 shares. Lexmark International has a 52-week low of $32.57 and a 52-week high of $50.60. The stock’s 50-day moving average is $48.13 and its 200-day moving average is $44.46. The company has a market cap of $3.154 billion and a price-to-earnings ratio of 16.50.
Lexmark International (NYSE:LXK) last announced its earnings results on Tuesday, July 22nd. The company reported $0.99 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.93 by $0.06. The company had revenue of $892.00 million for the quarter, compared to the consensus estimate of $867.09 million. During the same quarter last year, the company posted $0.95 earnings per share. Lexmark International’s revenue was up .6% compared to the same quarter last year. On average, analysts predict that Lexmark International will post $4.04 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Saturday, September 13th. Shareholders of record on Friday, August 29th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Wednesday, August 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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