NCR Co. (NCR) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of NCR Co. (NYSE:NCR) from a buy rating to a hold rating in a research note released on Monday morning.
According to Zacks, “NCR is one of the world’s leading consumer transaction technology providers. The stock has outperformed the broader sector over the last one year. We believe, NCR’s growing exposure in the self-service kiosk space is encouraging, given the tremendous growth prospects. The company has also been the global leader in self-service ATMs for several years in terms of market share. NCR remains the largest supplier of ATM machines in Asia-Pacific and North America while maintaining its leadership in the Asian and European markets. By 2020, RBR Research expects India to install base similar to the size of the U.S., trailing only China. This creates huge opportunities for companies like NCR. Going ahead, continuous product launches, growing popularity of its self-service offerings and synergies from acquisitions are the catalysts. However, intense competition from peers and a high debt burden remain concerns.”
Several other research firms have also issued reports on NCR. Royal Bank of Canada restated a buy rating and issued a $51.00 price objective on shares of NCR in a research note on Friday, May 12th. Oppenheimer Holdings Inc. upgraded NCR from a market perform rating to an outperform rating and set a $51.00 target price on the stock in a research note on Thursday, March 16th. Benchmark Co. initiated coverage on NCR in a research note on Thursday, April 13th. They set a buy rating and a $55.00 target price on the stock. CIBC upgraded NCR from a market perform rating to an outperform rating in a research note on Thursday, March 16th. Finally, Citigroup Inc upgraded NCR to an outperform rating and set a $51.00 target price on the stock in a research note on Thursday, March 16th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. NCR currently has a consensus rating of Buy and a consensus target price of $46.29.
NCR (NCR) traded down 2.05% during midday trading on Monday, hitting $39.59. The stock had a trading volume of 924,321 shares. NCR has a 52 week low of $25.20 and a 52 week high of $49.90. The firm has a market cap of $4.80 billion, a P/E ratio of 27.70 and a beta of 1.82. The stock has a 50-day moving average of $41.40 and a 200-day moving average of $42.84.
NCR (NYSE:NCR) last posted its quarterly earnings data on Thursday, April 20th. The information technology services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.10. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. NCR had a negative return on equity of 11.13% and a net margin of 3.86%. NCR’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 earnings per share. Analysts forecast that NCR will post $3.37 EPS for the current fiscal year.
In related news, major shareholder Holdings L.P. Blackstone III sold 3,002,753 shares of the firm’s stock in a transaction on Friday, March 17th. The stock was sold at an average price of $48.47, for a total transaction of $145,543,437.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP J. Robert Ciminera sold 3,086 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $42.48, for a total value of $131,093.28. Following the transaction, the executive vice president now directly owns 9,888 shares of the company’s stock, valued at $420,042.24. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Weiss Asset Management LP acquired a new position in NCR during the third quarter valued at $237,000. Russell Investments Group Ltd. acquired a new position in NCR during the fourth quarter valued at $6,431,000. Cantab Capital Partners LLP raised its position in NCR by 417.5% in the fourth quarter. Cantab Capital Partners LLP now owns 8,269 shares of the information technology services provider’s stock valued at $335,000 after buying an additional 6,671 shares during the period. Bogle Investment Management L P DE acquired a new position in NCR during the fourth quarter valued at $13,816,000. Finally, Tudor Investment Corp Et Al acquired a new position in NCR during the fourth quarter valued at $1,303,000. 81.73% of the stock is owned by hedge funds and other institutional investors.
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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