Zacks Investment Research Lowers NCR Corporation (NCR) to Strong Sell
NCR Corporation (NYSE:NCR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Monday.
According to Zacks, “NCR is one of the world’s leading consumer transaction technology providers. The Zacks Consensus Estimate for the company moved down after it reported dismal top-line performance for the third quarter and lowered its outlook for the full year. The company’s third-quarter revenues were mainly impacted by weakness in the ATM business as large customers across North America, India, the Middle East and Africa delayed their spending. Additionally, a slow conversion to Windows 10 was the other primary reason behind the year-over-year decline in ATM business revenues. Considering the aforementioned factors to continue impacting its near-term results, NCR lowered its full-year revenues and earnings outlook. This makes us increasingly cautious about the company’s near-term prospects. The stock has underperformed the industry to which it belongs to in the year-to-date period.”
A number of other equities analysts have also commented on the company. J P Morgan Chase & Co set a $45.00 price objective on NCR Corporation and gave the stock a “buy” rating in a research note on Saturday. Royal Bank Of Canada reaffirmed an “average” rating and issued a $44.00 price objective on shares of NCR Corporation in a research note on Friday. They noted that the move was a valuation call. Morgan Stanley cut their price objective on NCR Corporation from $43.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Friday. BidaskClub lowered NCR Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Finally, TheStreet raised NCR Corporation from a “c+” rating to a “b” rating in a research note on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $45.38.
Shares of NCR Corporation (NYSE NCR) traded down 1.27% during mid-day trading on Monday, hitting $32.63. The stock had a trading volume of 915,757 shares. The stock’s 50-day moving average is $36.76 and its 200-day moving average is $39.15. The firm has a market capitalization of $3.96 billion, a PE ratio of 20.10 and a beta of 1.91. NCR Corporation has a 1-year low of $29.98 and a 1-year high of $49.90.
NCR Corporation (NYSE:NCR) last posted its quarterly earnings data on Thursday, October 19th. The information technology services provider reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.03. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. NCR Corporation had a return on equity of 89.68% and a net margin of 5.11%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 earnings per share. Equities analysts expect that NCR Corporation will post $3.36 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of NCR Corporation by 7,816.4% during the first quarter. BlackRock Inc. now owns 10,676,674 shares of the information technology services provider’s stock valued at $487,709,000 after acquiring an additional 10,541,807 shares in the last quarter. State Street Corp grew its holdings in NCR Corporation by 0.7% during the first quarter. State Street Corp now owns 3,579,155 shares of the information technology services provider’s stock worth $163,492,000 after buying an additional 23,783 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in NCR Corporation by 2.4% during the second quarter. Bank of New York Mellon Corp now owns 2,729,881 shares of the information technology services provider’s stock worth $111,488,000 after buying an additional 65,051 shares in the last quarter. Morgan Stanley grew its holdings in NCR Corporation by 239.9% during 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 in the last quarter. Finally, Geode Capital Management LLC grew its holdings in NCR Corporation by 15.9% during the first quarter. Geode Capital Management LLC now owns 971,310 shares of the information technology services provider’s stock worth $44,369,000 after buying an additional 133,110 shares in the last quarter. Hedge funds and other institutional investors own 88.13% of the company’s stock.
NCR Corporation Company Profile
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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