NCR (NYSE:NCR) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

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NCR (NYSE:NCR) announced its quarterly earnings data on Thursday. The information technology services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.06, Briefing.com reports. The business had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.62 billion. NCR had a return on equity of 86.80% and a net margin of 2.47%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period last year, the firm earned $0.58 earnings per share. NCR updated its FY19 guidance to $2.75-2.85 EPS.

Shares of NYSE NCR traded up $1.44 during midday trading on Friday, reaching $31.46. 2,374,264 shares of the company were exchanged, compared to its average volume of 956,911. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 6.05. NCR has a 1 year low of $20.93 and a 1 year high of $35.08. The stock has a fifty day simple moving average of $30.14 and a 200 day simple moving average of $30.85. The stock has a market cap of $3.88 billion, a P/E ratio of 12.01 and a beta of 1.62.

Several brokerages have recently issued reports on NCR. DA Davidson increased their price objective on NCR from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Wells Fargo & Co initiated coverage on NCR in a research note on Wednesday, September 18th. They issued an “outperform” rating and a $45.00 price target on the stock. ValuEngine cut NCR from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Morgan Stanley raised their price target on NCR from $31.00 to $34.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, TheStreet upgraded NCR from a “c” rating to a “b” rating in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. NCR has a consensus rating of “Hold” and an average target price of $38.00.

In related news, major shareholder Ncr Holdco L.P. Blackstone sold 9,129,966 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $32.75, for a total transaction of $299,006,386.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Paul Langenbahn sold 28,833 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $32.42, for a total value of $934,765.86. Following the transaction, the vice president now directly owns 86,925 shares in the company, valued at approximately $2,818,108.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,175,687 shares of company stock worth $300,453,197. Corporate insiders own 1.00% of the company’s stock.

About NCR

NCR Corporation provides software and services for the financial, retail, hospitality, telecommunications, and technology industries worldwide. The company's Software segment offers industry-based software platforms, 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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Earnings History for NCR (NYSE:NCR)

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