Yahoo Finance NCR Digital Banking Solution to Enhance SECU's Online Services
NCR Corporation NCR recently announced that North Carolina State Employees’ Credit Union (“SECU”) has selected its Digital Banking platform to improve the latter’s mobile and online banking capabilities.
NCR’s digital banking platform will help SECU expand its online and mobile baking services, with a focus on enhanced account management, financial fitness, payment and security features for customers. The company stated that these digital services would supplement the in-person service SECU provides at its 274 branches across North Carolina.
We remain highly positive about NCR's Digital Banking, which is a cloud-native and application programming interface-based platform. The company has been one of the world's leading providers of digital banking solutions to more than 600 financial institutions and credit unions. We believe that NCR's commitment to protecting the trust and integrity of digital banking solutions has been inspiring banks and other financial institutions to choose its services.
NCR Corporation Price and Consensus
NCR Corporation price-consensus-chart | NCR Corporation Quote
In the first quarter of 2023, NCR’s Digital Banking Solution revenues remained flat at $136 million on a year-over-year basis despite ongoing macroeconomic headwinds and geopolitical issues.
In September 2022, NCR revealed that it is planning to spin off into two new publicly traded standalone companies. One of these will focus on the digital commerce business spearheading the retail, hospitality and digital banking industries. The other will provide solutions related to global ATM as a Service and ATM network businesses.
The separation intends to attract distinct shareholder bases, which are better aligned with each company’s value proposition and financial profile. Both companies will follow different business goals, capital structures and allocation strategies. These will help NCR deliver long-term growth with increased flexibility in separate sets of operations and sustainably create value for stockholders, offering them greater transparency.
Despite ongoing multiple macroeconomic headwinds, NCR managed to deliver better-than-expected first-quarter 2023 results. The enterprise technology provider reported revenues of $1.89 billion, which surpassed the Zacks Consensus Estimate of $1.84 billion and registered a 1% increase from the prior-year quarter. NCR’s first-quarter non-GAAP earnings rose 6% year over year to 56 cents per share and beat the consensus mark of 43 cents as well.
However, NCR's near-term prospect looks gloomy as organizations are pushing back their investments in big and expensive technology products due to global economic slowdown concerns.
Moreover, higher-than-expected inflationary pressure has led to a substantial increase in components, freight and fuel expenses, which are anticipated to continue hurting the company’s profitability in the next few quarters. Foreign exchange headwinds remain an added woe.
Zacks Rank & Stocks to Consider
Currently, NCR carries a Zacks Rank #3 (Hold). Shares of NCR have decreased 2.5% year to date.
Some better-ranked stocks from the broader technology sector are Meta Platforms META, Manhattan Associates MANH and Wix.com WIX. While Meta and Manhattan Associates each sport a Zacks Rank #1 (Strong Buy), Wix.com carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Meta's second-quarter 2023 earnings has been revised 36 cents northward to $2.79 per share in the past 30 days. For 2023, earnings estimates have been revised 12.6% upward to $11.76 per share in the past 30 days.
Meta’s earnings beat the Zacks Consensus Estimate twice in the preceding four quarters while missing the same on two occasions, the average surprise being 15.5%. Shares of META have surged 93.9% YTD.
The Zacks Consensus Estimate for Manhattan Associates' second-quarter 2023 earnings has been revised upward by a couple of cents to 72 cents per share for the past 30 days. For 2023, earnings estimates have moved upward by 17 cents to $2.87 per share in the past 30 days.
Manhattan Associates' earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 33.6%. Shares of MANH have soared 39.2% YTD.
The Zacks Consensus Estimate for Wix.com’s first-quarter 2023 earnings has been revised upward to 23 cents per share from 16 cents per share 60 days ago. For 2023, earnings estimates have been revised northward by 7 cents to $1.49 per share in the past 60 days.
Wix.com's earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while missing the same on one occasion, the average surprise being 225%. Shares of WIX have decreased 3.5% YTD.
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