Zacks Investment Research Downgrades Qurate Retail Inc Series A (QRTEA) to Hold
Qurate Retail Inc Series A (NASDAQ:QRTEA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “Qurate Retail, Inc. operates and owns interests in digital commerce businesses. The company’s business and asset consist of its subsidiaries QVC Inc., HSN Inc., and zulily, llc as well as its interests in ILG and FTD, among other things. Qurate Retail Inc., formerly known as Liberty Interactive Corporation, is based in Colorado, United States. “
A number of other brokerages also recently weighed in on QRTEA. ValuEngine raised shares of Qurate Retail Inc Series A from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 8th. Citigroup increased their price target on shares of Qurate Retail Inc Series A from $18.00 to $19.00 and gave the company a “sell” rating in a report on Friday, August 17th. Finally, Aegis reissued a “buy” rating and issued a $30.00 price target on shares of Qurate Retail Inc Series A in a report on Tuesday, August 21st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $30.60.
Qurate Retail Inc Series A (NASDAQ:QRTEA) last posted its quarterly earnings data on Friday, November 9th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.04. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.19 billion. Qurate Retail Inc Series A had a net margin of 9.88% and a return on equity of 22.24%. Qurate Retail Inc Series A’s quarterly revenue was up 35.7% on a year-over-year basis. On average, equities research analysts expect that Qurate Retail Inc Series A will post 2.04 earnings per share for the current year.
In other news, Director Mark C. Vadon sold 122,574 shares of the firm’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $22.05, for a total transaction of $2,702,756.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael A. George acquired 220,600 shares of Qurate Retail Inc Series A stock in a transaction dated Thursday, August 30th. The shares were acquired at an average cost of $20.40 per share, with a total value of $4,500,240.00. The disclosure for this purchase can be found here. 0.01% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in QRTEA. BlackRock Inc. bought a new position in shares of Qurate Retail Inc Series A during the 2nd quarter worth about $464,441,000. Dodge & Cox lifted its holdings in shares of Qurate Retail Inc Series A by 35.3% during the 3rd quarter. Dodge & Cox now owns 52,572,349 shares of the company’s stock worth $1,167,632,000 after acquiring an additional 13,722,089 shares during the period. FMR LLC bought a new position in shares of Qurate Retail Inc Series A during the 2nd quarter worth about $265,833,000. Artisan Partners Limited Partnership bought a new position in shares of Qurate Retail Inc Series A during the 2nd quarter worth about $194,682,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Qurate Retail Inc Series A during the 2nd quarter worth about $150,218,000. 84.77% of the stock is owned by institutional investors.
About Qurate Retail Inc Series A
Qurate Retail, Inc, through its subsidiaries, engages in the video and online commerce industries in North America, Europe, and Asia. It markets and sells various consumer products primarily through live televised shopping programs, Websites, and mobile applications to 374 million households worldwide each day.
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