Zacks Investment Research Downgrades LSC Communications Inc (LKSD) to Strong Sell
LSC Communications Inc (NASDAQ:LKSD) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “LSC Communications, Inc. provides traditional and digital print, print-related services and office products which serves publishers, merchandisers and retailers. The Company’s service offering includes e-services, warehousing and fulfillment and supply chain management. LSC Communications, Inc. is based in Chicago, United States. “
Several other research firms have also recently commented on LKSD. BidaskClub upgraded LSC Communications from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 28th. Citigroup Inc. cut LSC Communications from a “neutral” rating to a “sell” rating in a research report on Friday, September 29th. Finally, J P Morgan Chase & Co started coverage on LSC Communications in a research note on Friday, July 21st. They set a “neutral” rating for the company. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $24.00.
Shares of LSC Communications (NASDAQ:LKSD) traded down 3.68% during mid-day trading on Wednesday, hitting $17.27. The company had a trading volume of 235,005 shares. The company has a market capitalization of $602.57 million and a PE ratio of 11.35. LSC Communications has a one year low of $15.05 and a one year high of $30.74. The company’s 50-day moving average is $16.81 and its 200 day moving average is $16.81.
LSC Communications (NASDAQ:LKSD) last posted its earnings results on Thursday, August 3rd. The company reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.09). LSC Communications had a return on equity of 7.63% and a net margin of 0.59%. The business had revenue of $848.00 million for the quarter, compared to analysts’ expectations of $876.38 million. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, equities research analysts forecast that LSC Communications will post $2.15 EPS for the current fiscal year.
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In other news, Director Shivan S. Subramaniam purchased 3,500 shares of the company’s stock in a transaction on Monday, September 11th. The stock was purchased at an average price of $16.41 per share, with a total value of $57,435.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A number of hedge funds have recently modified their holdings of LKSD. SG Americas Securities LLC bought a new stake in LSC Communications during the second quarter worth about $138,000. Sei Investments Co. lifted its stake in LSC Communications by 53.3% during the second quarter. Sei Investments Co. now owns 6,508 shares of the company’s stock worth $139,000 after purchasing an additional 2,263 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in LSC Communications by 85.3% during the second quarter. State of Alaska Department of Revenue now owns 6,652 shares of the company’s stock worth $142,000 after purchasing an additional 3,062 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in LSC Communications by 32.1% during the second quarter. Municipal Employees Retirement System of Michigan now owns 8,020 shares of the company’s stock worth $172,000 after purchasing an additional 1,950 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. bought a new stake in LSC Communications during the second quarter worth about $205,000.
About LSC Communications
LSC Communications, Inc focuses on traditional and digital print, print-related services and office products. The Company’s segments are Print and Office Products. The Company, through its Print segment, provides a range of print product offerings, which include magazines, catalogs, retail inserts, books and directories.
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