Qurate Retail, Inc. (NASDAQ:QRTEA – Get Rating)’s stock price gapped down prior to trading on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $2.11, but opened at $1.97. Qurate Retail shares last traded at $1.74, with a volume of 2,795,471 shares changing hands.
The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.19). Qurate Retail had a negative net margin of 21.82% and a positive return on equity of 9.86%. The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The business’s revenue for the quarter was down 13.1% on a year-over-year basis.
Analyst Upgrades and Downgrades
Several brokerages recently commented on QRTEA. StockNews.com lowered shares of Qurate Retail from a “hold” rating to a “sell” rating in a report on Thursday. Bank of America lowered shares of Qurate Retail from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $4.00 to $1.20 in a report on Friday, November 4th.
Institutional Investors Weigh In On Qurate Retail
A number of large investors have recently modified their holdings of the business. Natixis purchased a new stake in shares of Qurate Retail during the fourth quarter worth $189,000. Wallace Advisory Group LLC purchased a new stake in shares of Qurate Retail in the fourth quarter valued at about $32,000. Equitable Trust Co. grew its holdings in shares of Qurate Retail by 22.7% in the fourth quarter. Equitable Trust Co. now owns 25,194 shares of the company’s stock valued at $41,000 after purchasing an additional 4,664 shares during the period. Permit Capital LLC grew its holdings in shares of Qurate Retail by 3.7% in the fourth quarter. Permit Capital LLC now owns 4,098,585 shares of the company’s stock valued at $6,681,000 after purchasing an additional 145,455 shares during the period. Finally, Point72 Middle East FZE purchased a new stake in shares of Qurate Retail in the fourth quarter valued at about $143,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.
Qurate Retail Price Performance
The company has a debt-to-equity ratio of 15.24, a current ratio of 1.31 and a quick ratio of 0.67. The stock’s fifty day moving average is $2.09 and its 200-day moving average is $2.29. The stock has a market cap of $607.71 million, a PE ratio of -0.22 and a beta of 2.02.
About Qurate Retail
Qurate Retail, Inc engages in the business of video and online commerce industries. It operates through the following segments: QxH, QVC International, and Corporate and Others. The QxH segment includes the distribution of live programming, 20 hours per day, 364 days per year, to television households.
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