Lexmark International (NYSE:LXK)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Friday, Analyst Ratings Network reports. They currently have a $42.00 price objective on the stock. Zacks‘ target price suggests a potential upside of 5.63% from the company’s current price.
Zacks‘ analyst wrote, “Lexmark’s second quarter results were impressive with both the top and bottom lines surpassing the Zacks Consensus Estimates. Revenues came below the year-ago period but were better than expected. Guidance for the third quarter was deterring, reflecting inkjet exit and macro uncertainty. Though acquisitions (Twistage and AccessVia) made during the quarter, renewed focus on the software space and growing demand for its MPS solutions could win back lost market share, their impact on results could still be some way off. But, stiff competition from key players such as Hewlett-Packard Company, Canon Inc., Epson and Samsung, advent of digital technology and e-commerce and board-based weakness in the printing market are major concerns. We maintain our Neutral recommendation on the stock.”
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Lexmark International from $22.00 to $28.00 in a research note to investors on Wednesday, July 24th. Separately, analysts at Deutsche Bank raised their price target on shares of Lexmark International from $18.00 to $26.00 in a research note to investors on Wednesday, July 24th. They now have a “sell” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Lexmark International from $24.00 to $30.00 in a research note to investors on Wednesday, July 24th.
Five equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $29.50.
Shares of Lexmark International (NYSE:LXK) traded up 0.88% on Friday, hitting $40.11. 318,871 shares of the company’s stock traded hands. Lexmark International has a 52-week low of $18.86 and a 52-week high of $41.45. The stock’s 50-day moving average is $35.49 and its 200-day moving average is $29.26. The company has a market cap of $2.535 billion and a price-to-earnings ratio of 20.10.
Lexmark International (NYSE:LXK) last released its earnings data on Tuesday, July 23rd. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.88 by $0.07. The company had revenue of $890.00 million for the quarter, compared to the consensus estimate of $858.96 million. During the same quarter in the prior year, the company posted $0.89 earnings per share. The company’s quarterly revenue was down 3.1% on a year-over-year basis. Analysts expect that Lexmark International will post $3.85 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Wednesday, August 28th.
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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