Bank of America Initiates Coverage on Qurate Retail (NASDAQ:QRTEA)


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Stock analysts at Bank of America initiated coverage on shares of Qurate Retail (NASDAQ:QRTEA) in a research report issued to clients and investors on Thursday, Benzinga reports. The firm set a “buy” rating on the stock.

Separately, Zacks Investment Research downgraded Qurate Retail from a “hold” rating to a “sell” rating in a research note on Thursday, March 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $10.80.

QRTEA stock opened at $12.38 on Thursday. The stock has a 50-day moving average price of $12.19 and a 200-day moving average price of $10.72. Qurate Retail has a 1-year low of $4.47 and a 1-year high of $13.76. The company has a current ratio of 1.05, a quick ratio of 0.69 and a debt-to-equity ratio of 1.40. The firm has a market cap of $5.08 billion, a PE ratio of 7.64, a price-to-earnings-growth ratio of 0.92 and a beta of 2.03.

Qurate Retail (NASDAQ:QRTEA) last issued its earnings results on Friday, February 26th. The company reported $1.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.79. The company had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.41 billion. Qurate Retail had a return on equity of 18.08% and a net margin of 4.89%. Qurate Retail’s quarterly revenue was up 6.7% on a year-over-year basis. On average, analysts forecast that Qurate Retail will post 2.2 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in QRTEA. Marshall Wace LLP acquired a new position in Qurate Retail during the 1st quarter valued at about $182,000. Morgan Stanley boosted its stake in shares of Qurate Retail by 7.0% in the 3rd quarter. Morgan Stanley now owns 192,742 shares of the company’s stock worth $1,384,000 after buying an additional 12,576 shares during the last quarter. State of Tennessee Treasury Department purchased a new position in shares of Qurate Retail in the 3rd quarter worth approximately $154,000. California State Teachers Retirement System boosted its stake in shares of Qurate Retail by 2.4% in the 3rd quarter. California State Teachers Retirement System now owns 720,314 shares of the company’s stock worth $5,172,000 after buying an additional 16,792 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its stake in shares of Qurate Retail by 91.8% in the 3rd quarter. Voloridge Investment Management LLC now owns 175,928 shares of the company’s stock worth $1,263,000 after buying an additional 84,182 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Qurate Retail Company Profile

Qurate Retail, Inc, together with its subsidiaries, engages in the video and online commerce industries in North America, Europe, and Asia. The company markets and sells various consumer products primarily through live televised shopping programs, Internet, and mobile applications to approximately 218 million households.

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Analyst Recommendations for Qurate Retail (NASDAQ:QRTEA)

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