Market Overview

Wedbush's Luria: $10 Billion Bid For NCR 'May Be Too High'

Related NCR
Earnings Scheduled For July 20, 2017
Barron's Picks And Pans: Canadian Stocks, NCR, Gilead And More

Shares of NCR Corporation (NYSE: NCR) are soaring, up 11.2 percent on reports of a potential $10 billion dollar joint-bid from Blackstone Group LP (NYSE: BX) and The Carlyle Group LP (NASDAQ: CG), according to Reuters.

NCR Corp manufactures ATM machines, as well as cash registers.

In an exclusive interview with Benzinga, Gil Luria of Wedbush said, “It is likely there are multiple bids for NCR, however, a $10 billion bid may be too high considering it is 20 times cash flow.” Luria added that NCR holds inexpensive debt, making it harder for private equity firms to receive the benefits of refinancing.

NCR is expected to report earnings late next month, according to Estimize. The company last reported first quarter earnings per share of $0.43 versus estimates of $0.39, while booking a slight revenue miss.

Latest Ratings for NCR

Jul 2017Compass PointInitiates Coverage OnBuy
Apr 2017BenchmarkInitiates Coverage OnBuy
Mar 2017OppenheimerUpgradesPerformOutperform

View More Analyst Ratings for NCR
View the Latest Analyst Ratings

Posted-In: Gil Luria WedbushAnalyst Color Exclusives Analyst Ratings Movers Interview


Related Articles (BX + CG)

View Comments and Join the Discussion!