Oppenheimer analyst Ian Zaffino downgraded NCR Corp (NYSE: NCR) to Hold yesterday. The company’s shares closed yesterday at $30.67.
Zaffino noted:
“NCR missed 2Q18 revenues/EBITDA and beat EPS (lower taxes). Management cut FY18 guidance by even more than our below-guidance/Street model assumed. Challenges include product line-up, supply chain constraints, pricing pressure, unfavorable mix and higher costs necessary to address supply-chain issues. Revised guidance calls for FY18 non-GAAP EPS of $2.55-$2.75, vs. $3.30-$3.45 previously, and our previous estimate of $3.28. ATMs (hardware and software) remain challenged through 3Q18, owing to supply-chain constraints. SCO/POS remains challenged through 4Q18 on product lineup/pushouts. Cloud faces headwinds (across the board) with revenue guidance of 6%-7% (was 10%), on longer conversion times. Given the much weaker outlook and the substantial 4Q18 ramp needed to achieve full-year guidance, we move to until we gain more clarity/certainty.”
According to TipRanks.com, Zaffino is a 4-star analyst with an average return of 2.9% and a 55.1% success rate. Zaffino covers the Services sector, focusing on stocks such as Servicemaster Global Holdings, Wyndham Destinations Inc, and Peak Resorts.
Currently, the analyst consensus on NCR Corp is a Strong Buy with an average price target of $37.50.
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The company has a one-year high of $39.20 and a one-year low of $26. Currently, NCR Corp has an average volume of 1.11M.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NCR in relation to earlier this year. Most recently, in May 2018, Richard Clemmer, a Director at NCR bought 7,152 shares for a total of $180,016.
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NCR Corp. engages in the development, manufacture and sale of consumer transaction solutions. It operates through the following segments: Software, Services and Hardware. The Software segment includes industry-based software platforms, applications and application suites for the financial services, retail, hospitality and small business industries.
