NCR Corp. (NYSE:NCR) was downgraded by equities research analysts at Compass Point from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, TheFlyOnTheWall.com reports. They currently have a $40.00 target price on the stock, down from their previous target price of $47.00. Compass Point’s price objective indicates a potential downside of 1.31% from the stock’s previous close.
The analysts wrote, “Downgrading to Neutral. Lowering estimates. Lowering price target. We see reason to pause on this quarter’s weak revenue performance. We had upgraded NCR to Buy on April 17th at $27.16 for a total return of 49% versus the S&P 500 return of 10% over the comparable period. While NCR reported a better than expected third quarter in terms of earnings, management left the full year earnings outlook unchanged suggesting concerns about fourth quarter growth. We find this outlook particularly concerning given that revenue missed our estimate this quarter. As reflected in our updated estimates, lackluster revenue growth presents risk that the business meaningfully underperforms management’s 2015 targets of $7.5 billion in revenue and $3.65-$4.25 in Adjusted EPS. With an already debt heavy balance sheet and only meager free cash flow production, the implications of lost earnings momentum would be significant.”
NCR has been the subject of a number of other recent research reports. Analysts at Susquehanna raised their price target on shares of NCR Corp. from $40.00 to $47.00 in a research note to investors on Thursday, October 17th. They now have a “positive” rating on the stock. Separately, analysts at Zacks reiterated a “hold” rating on shares of NCR Corp. in a research note to investors on Monday, September 23rd. They now have a $38.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of NCR Corp. to $46.00 in a research note to investors on Monday, September 23rd. They now have an “overweight” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. NCR Corp. has an average rating of “Buy” and a consensus target price of $39.50.
NCR Corp. (NYSE:NCR) traded down 6.86% during mid-day trading on Friday, hitting $37.75. 2,302,730 shares of the company’s stock traded hands. NCR Corp. has a one year low of $20.92 and a one year high of $38.52. The stock has a 50-day moving average of $36.60 and a 200-day moving average of $31.87. The company has a market cap of $6.266 billion and a P/E ratio of 48.25.
NCR Corp. (NYSE:NCR) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.08. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis.
NCR Corporation (NYSE:NCR) is a technology company, which provides products and services, which enable businesses to connect, interact and transact with their customers and enhance their customer relationships by addressing consumer demand for convenience, value and individual service.
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