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NCR to Enhance Self-Service Banking Channel for First Bank
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NCR Corporation recently announced that First Bank has joined its Allpoint Network, which will help the bank further improve the self-service banking channel. This collaboration will provide self-service financial solutions to First Bank customers across the United States for both cash-in and cash-out transactions.
NCR's Allpoint Network is an ATM network solution that offers on-demand cash access solutions for banks, credit unions, prepaid programs and fintechs. The latest partnership will also provide First Bank customers with access to NCR’s Allpoint+ cash-accepting ATMs at nearly 2,000 locations in the United States, which will not only allow cash withdrawals but also cash deposits.
Apart from this, First Bank has chosen NCR to transform its branch model by installing almost 200 Interactive Teller Machines. With this, First Bank will be able to enhance its self-service banking options and extend hours select services for customers.
With this collaboration, First Bank will be able to offer more convenient banking services to its customers by providing access to surcharge-free cash even when they’re not near a First Bank branch.
NCR has been witnessing the strong adoption of its Allpoint ATM network solution. In April 2023, the company revealed that Canada-based Payfare Inc. is leveraging its Allpoint ATM network Allpoint+ solutions.
Of late, NCR has been focusing more on providing ATM as a service rather than offering hardware. For this, 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, which is anticipated to be complete in the fourth quarter of 2023, 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 macroeconomic headwinds, NCR managed to deliver better-than-expected second-quarter 2023 results. The enterprise technology provider’s second-quarter non-GAAP earnings increased 3% year over year to 63 cents per share and surpassed the Zacks Consensus Estimate of 43 cents.
Lower direct costs, such as reductions in fuel, shipping and component costs, along with a higher-margin revenue mix and indirect cost mitigation actions, were accretive to the company’s second-quarter bottom line. However, the strong U.S. dollar and a higher tax rate reduced non-GAAP earnings by 5 cents and 9 cents per share, respectively.
In the second quarter of 2023, NCR reported revenues of $1.99 billion, beating the consensus mark of $1.95 billion. However, the top line witnessed a year-over-year decrease of 1%. Unfavorable currency exchange rates negatively impacted second-quarter revenues by approximately $18 million. NCR stated that the second-quarter top line was flat year over year on a constant-currency basis.
NCR progressed significantly with its strategic growth initiatives, which are transforming it into a software platform and payments company. The company’s recurring revenues improved by 4% to $1.26 billion in the last reported quarter.
Zacks Rank & Other Stocks to Consider
Currently, NCR carries a Zacks Rank #2 (Buy). Shares of NCR have increased 23% year to date (YTD).
The Zacks Consensus Estimate for NVIDIA's second-quarter fiscal 2024 earnings has been revised upward by a couple of cents to $2.06 per share in the past 30 days. For fiscal 2024, earnings estimates have increased by 11 cents to $7.79 per share in the past 30 days.
NVIDIA’s earnings beat the Zacks Consensus Estimate twice in the preceding four quarters while missing the same on two occasions, the average surprise being 0.3%. Shares of NVDA have surged 190% YTD.
The Zacks Consensus Estimate for CrowdStrike’s second-quarter fiscal 2024 earnings has been revised a penny northward to 56 cents per share in the past 60 days. For fiscal 2024, earnings estimates have moved a penny upward to $2.39 per share in the past 60 days.
CrowdStrike’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 19.2%. Shares of CRWD have rallied 40.4% YTD.
The Zacks Consensus Estimate for Salesforce's second-quarter fiscal 2024 earnings has been revised upward by a penny to $1.90 per share in the past 60 days. For fiscal 2024, earnings estimates have moved upward by a couple of cents to $7.44 per share in the past 60 days.
Salesforce's earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 15.5%. Shares of CRM have surged 57% YTD.
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NCR to Enhance Self-Service Banking Channel for First Bank
NCR Corporation recently announced that First Bank has joined its Allpoint Network, which will help the bank further improve the self-service banking channel. This collaboration will provide self-service financial solutions to First Bank customers across the United States for both cash-in and cash-out transactions.
NCR's Allpoint Network is an ATM network solution that offers on-demand cash access solutions for banks, credit unions, prepaid programs and fintechs. The latest partnership will also provide First Bank customers with access to NCR’s Allpoint+ cash-accepting ATMs at nearly 2,000 locations in the United States, which will not only allow cash withdrawals but also cash deposits.
Apart from this, First Bank has chosen NCR to transform its branch model by installing almost 200 Interactive Teller Machines. With this, First Bank will be able to enhance its self-service banking options and extend hours select services for customers.
With this collaboration, First Bank will be able to offer more convenient banking services to its customers by providing access to surcharge-free cash even when they’re not near a First Bank branch.
NCR Corporation Price and Consensus
NCR Corporation price-consensus-chart | NCR Corporation Quote
NCR has been witnessing the strong adoption of its Allpoint ATM network solution. In April 2023, the company revealed that Canada-based Payfare Inc. is leveraging its Allpoint ATM network Allpoint+ solutions.
Of late, NCR has been focusing more on providing ATM as a service rather than offering hardware. For this, 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, which is anticipated to be complete in the fourth quarter of 2023, 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 macroeconomic headwinds, NCR managed to deliver better-than-expected second-quarter 2023 results. The enterprise technology provider’s second-quarter non-GAAP earnings increased 3% year over year to 63 cents per share and surpassed the Zacks Consensus Estimate of 43 cents.
Lower direct costs, such as reductions in fuel, shipping and component costs, along with a higher-margin revenue mix and indirect cost mitigation actions, were accretive to the company’s second-quarter bottom line. However, the strong U.S. dollar and a higher tax rate reduced non-GAAP earnings by 5 cents and 9 cents per share, respectively.
In the second quarter of 2023, NCR reported revenues of $1.99 billion, beating the consensus mark of $1.95 billion. However, the top line witnessed a year-over-year decrease of 1%. Unfavorable currency exchange rates negatively impacted second-quarter revenues by approximately $18 million. NCR stated that the second-quarter top line was flat year over year on a constant-currency basis.
NCR progressed significantly with its strategic growth initiatives, which are transforming it into a software platform and payments company. The company’s recurring revenues improved by 4% to $1.26 billion in the last reported quarter.
Zacks Rank & Other Stocks to Consider
Currently, NCR carries a Zacks Rank #2 (Buy). Shares of NCR have increased 23% year to date (YTD).
Some other top-ranked stocks from the broader technology sector are NVIDIA (NVDA - Free Report) , CrowdStrike (CRWD - Free Report) and Salesforce (CRM - Free Report) . NVIDIA sports a Zacks Rank #1 (Strong Buy), while CrowdStrike and Salesforce each carry a Zacks Rank #2 at present. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for NVIDIA's second-quarter fiscal 2024 earnings has been revised upward by a couple of cents to $2.06 per share in the past 30 days. For fiscal 2024, earnings estimates have increased by 11 cents to $7.79 per share in the past 30 days.
NVIDIA’s earnings beat the Zacks Consensus Estimate twice in the preceding four quarters while missing the same on two occasions, the average surprise being 0.3%. Shares of NVDA have surged 190% YTD.
The Zacks Consensus Estimate for CrowdStrike’s second-quarter fiscal 2024 earnings has been revised a penny northward to 56 cents per share in the past 60 days. For fiscal 2024, earnings estimates have moved a penny upward to $2.39 per share in the past 60 days.
CrowdStrike’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 19.2%. Shares of CRWD have rallied 40.4% YTD.
The Zacks Consensus Estimate for Salesforce's second-quarter fiscal 2024 earnings has been revised upward by a penny to $1.90 per share in the past 60 days. For fiscal 2024, earnings estimates have moved upward by a couple of cents to $7.44 per share in the past 60 days.
Salesforce's earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 15.5%. Shares of CRM have surged 57% YTD.