Morgan Stanley Trims NCR (NCR) Target Price to $30.00

NCR (NYSE:NCR) had its target price lowered by Morgan Stanley from $32.00 to $30.00 in a report issued on Wednesday. Morgan Stanley currently has an equal weight rating on the information technology services provider’s stock.

A number of other equities analysts have also issued reports on the company. Oppenheimer reaffirmed a hold rating on shares of NCR in a research note on Tuesday. Zacks Investment Research lowered NCR from a hold rating to a sell rating in a research note on Tuesday, October 23rd. ValuEngine raised NCR from a strong sell rating to a sell rating in a research note on Monday, October 22nd. TheStreet lowered NCR from a b- rating to a c- rating in a research note on Friday, July 27th. Finally, JPMorgan Chase & Co. reduced their price objective on NCR from $38.00 to $35.00 and set an overweight rating for the company in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $35.80.

NYSE NCR traded down $0.53 on Wednesday, reaching $27.50. 1,330,499 shares of the stock traded hands, compared to its average volume of 1,360,913. The company has a debt-to-equity ratio of 6.43, a quick ratio of 1.01 and a current ratio of 1.42. The firm has a market cap of $3.24 billion, a P/E ratio of 10.15, a PEG ratio of 2.63 and a beta of 1.73. NCR has a 12 month low of $23.41 and a 12 month high of $38.68.

NCR (NYSE:NCR) last issued its quarterly earnings results on Tuesday, October 30th. The information technology services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.58 billion. NCR had a positive return on equity of 75.44% and a negative net margin of 1.33%. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period last year, the company posted $0.93 EPS. On average, research analysts predict that NCR will post 2.62 earnings per share for the current fiscal year.

NCR announced that its board has authorized a stock repurchase program on Thursday, July 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the information technology services provider to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new stake in shares of NCR during the 2nd quarter worth $202,000. Dorsey & Whitney Trust CO LLC bought a new stake in shares of NCR during the 3rd quarter worth $222,000. Financial Counselors Inc. boosted its stake in shares of NCR by 29.6% during the 2nd quarter. Financial Counselors Inc. now owns 9,206 shares of the information technology services provider’s stock worth $276,000 after acquiring an additional 2,104 shares in the last quarter. GAM Holding AG bought a new stake in shares of NCR during the 2nd quarter worth $296,000. Finally, Bbva Compass Bancshares Inc. boosted its stake in shares of NCR by 37.8% during the 3rd quarter. Bbva Compass Bancshares Inc. now owns 12,341 shares of the information technology services provider’s stock worth $350,000 after acquiring an additional 3,388 shares in the last quarter. 91.26% of the stock is owned by institutional investors and hedge funds.

NCR Company Profile

NCR Corporation provides omni-channel technology solutions for businesses to connect, interact, and transact with their customers worldwide. The company's Software segment offers industry-based software platforms and applications and application suites for the financial services, retail, hospitality, and small business industries; and cash management software, video banking software, fraud and loss prevention, check and document imaging, remote-deposit capture, and customer-facing mobile and digital banking applications for the financial services industry.

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