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NCR Corporation (NCR) & Payfare Extend Partnership Agreement

NCR Corporation NCR recently strengthened its collaboration with Canada-based Payfare Inc. This collaboration will provide self-service financial solutions to the Payfare cardholders across the United States for both cash-in and cash-out transactions.

Payfare currently leverages NCR's Allpoint ATM network solution, an on-demand cash access solution for banks, credit unions, prepaid programs and fintechs. The latest move will enable Payfare cardholders to get access to the company’s Allpoint+ cash-accepting ATMs, which will not only allow cash withdrawals but also cash deposits.

Further, Payfare gig workers will be able to use NCR’s Pay360 solution, an application programing interface platform that will let the cardholders access cash in their account with a simple and secure code through Payfare’s digital banking apps. This functionality will enable debit cardless cash withdrawals for the cardholders.

Payfare provides gig workers with instant access to their earnings and a full-featured digital banking experience. This enables the workers to thrive financially instead of depending on the traditional banking system, payday loans, overdraft and credit cards. The extension will enhance flexibility, ease and speed to access cash at convenient locations among the gig workers.

NCR Corporation Price and Consensus

NCR Corporation Price and Consensus
NCR Corporation Price and Consensus

NCR Corporation price-consensus-chart | NCR Corporation Quote

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Of late, NCR has been focusing more on providing ATM as a service rather than offering hardware. In January, the United Heritage Credit Union (UHCU) selected NCR’s ATM-as-a-Service solution to run its ATM fleet. The solution intends to help UHCU upgrade its ATM infrastructure and streamline operations by enabling it to offer interactive teller capabilities.

NCR has been one of the world's largest and leading suppliers of multi-vendor ATM hardware and applications for more than 30 consecutive years. In September 2022, the company revealed its plan about spinning 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 enterprise technology provider reported revenues of $2 billion, witnessing a year-over-year increase of only 2% in the fourth quarter of 2022. Supply-chain disruptions, Russia-Ukraine conflict, inflationary pressure, rising interest rates and unfavorable currency exchange rates remained headwinds. Non-GAAP earnings rose 3.9% year over year to 79 cents per share.

However, NCR's near-term prospects look gloomy as organizations are pushing back its investments in big and expensive technology products due to global economic slowdown concerns. 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

NCR currently has a Zacks Rank #5 (Strong Sell). Shares of NCR have plunged 44.1% in the past year.

Some better-ranked stocks from the broader Computer and Technology sector are Airbnb ABNB, Baidu BIDU and Meta Platforms META. While Baidu and Meta Platforms flaunt a Zacks Rank #1 (Strong Buy), Airbnb carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Baidu’s first-quarter 2023 earnings has been revised 39 cents southward to $2.21 per share over the past 30 days. For 2023, earnings estimates have risen by a penny to $11.54 per share over the past 30 days.

BIDU’s earnings beat the Zacks Consensus Estimate in all the preceding four quarters, the average surprise being 45.5%. Shares of the company have gained 1.3% in the past year.

The Zacks Consensus Estimate for Meta Platforms' first-quarter 2023 earnings has been revised a penny upward to $1.97 per share over the past seven days. For fiscal 2023, earnings estimates have moved north by a penny to $10.23 in the past seven days.

META’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, missing twice, the average surprise being 8.6%. Shares of the company have fallen 0.4% in the past year.

The Zacks Consensus Estimate for Airbnb’s first-quarter 2023 earnings has been revised northward from breakeven to 14 cents per share over the past 60 days. For 2023, earnings estimates have moved up by 52 cents to $3.38 in the past 60 days.

ABNB's earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 57.2%. Shares of the company have declined 34.5% in the past year.

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Meta Platforms, Inc. (META) : Free Stock Analysis Report

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