Shares of Quad/Graphics, Inc. (NYSE:QUAD) shot up 4.3% during trading on Friday after Buckingham Research raised their price target on the stock from $28.00 to $30.00. Buckingham Research currently has a buy rating on the stock. Quad/Graphics traded as high as $17.62 and last traded at $17.71. 60,750 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 324,233 shares. The stock had previously closed at $16.98.
QUAD has been the subject of a number of other research reports. Sanford C. Bernstein cut shares of Quad/Graphics from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 23rd. ValuEngine cut shares of Quad/Graphics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. TheStreet upgraded shares of Quad/Graphics from a “c” rating to a “b-” rating in a research report on Wednesday, August 1st. Finally, Zacks Investment Research upgraded shares of Quad/Graphics from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, August 22nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $28.50.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Quad/Graphics by 12.6% during the 2nd quarter. BlackRock Inc. now owns 2,219,875 shares of the business services provider’s stock worth $46,241,000 after purchasing an additional 248,498 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Quad/Graphics by 32.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,632,764 shares of the business services provider’s stock worth $34,010,000 after purchasing an additional 401,371 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Quad/Graphics by 16.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 619,104 shares of the business services provider’s stock worth $12,896,000 after purchasing an additional 87,938 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Quad/Graphics by 6.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 575,542 shares of the business services provider’s stock worth $11,989,000 after purchasing an additional 33,387 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Quad/Graphics by 3.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 514,281 shares of the business services provider’s stock worth $10,713,000 after purchasing an additional 17,758 shares in the last quarter. Institutional investors and hedge funds own 52.99% of the company’s stock.
The firm has a market capitalization of $921.35 million, a PE ratio of 9.69 and a beta of 1.37. The company has a quick ratio of 0.83, a current ratio of 1.27 and a debt-to-equity ratio of 2.00.
Quad/Graphics (NYSE:QUAD) last released its earnings results on Wednesday, October 31st. The business services provider reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.03). The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.01 billion. Quad/Graphics had a return on equity of 18.09% and a net margin of 2.03%. Quad/Graphics’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the company posted $0.38 EPS. As a group, equities analysts expect that Quad/Graphics, Inc. will post 1.89 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Monday, November 19th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, November 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.73%. Quad/Graphics’s dividend payout ratio is 66.67%.
Quad/Graphics declared that its board has approved a share buyback program on Tuesday, July 31st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the business services provider to repurchase up to 9.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
About Quad/Graphics (NYSE:QUAD)
Quad/Graphics, Inc provides print and marketing services in the United States, Europe, Latin America, and internationally. It operates through United States Print and Related Services, and International segments. The company offers printing services, including retail inserts, publications, catalogs, special interest publications, journals, direct mail, books, directories, in-store marketing and promotion, packaging, newspapers, custom print products, other commercial and specialty printed products; and paper procurement services.
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