Quality Systems Receives Neutral Rating from Zacks (QSII)
Quality Systems (NASDAQ:QSII)‘s stock had its “neutral” rating restated by Zacks in a report released on Monday, American Banking News.com reports. They currently have a $19.00 target price on the stock. Zacks‘ price objective suggests a potential upside of 4.11% from the stock’s previous close.
Zacks‘ analyst wrote, “Despite the revenues and earnings miss from the Zacks Consensus Estimate in the third quarter of fiscal 2014, we are optimistic about Quality Systems given the continued strength in its NextGen division as well as the expected benefit from its Mirth acquisition. However, we are disappointed about the continued fall in software and hardware sales leading to lower revenues and earnings in the most recent quarter. Further, we are concerned about the company’s lack of endeavor to capitalize on opportunities in the growing EHR replacement market. Due to these mixed factors, we continue with our Neutral recommendation and set a target price of $19.00.”
A number of other firms have also recently commented on QSII. Analysts at Oppenheimer cut their price target on shares of Quality Systems from $26.00 to $24.00 in a research note to investors on Friday. Separately, analysts at Jefferies Group cut their price target on shares of Quality Systems from $23.00 to $20.00 in a research note to investors on Friday. Finally, analysts at B. Riley reiterated a “buy” rating on shares of Quality Systems in a research note to investors on Monday, January 13th. They now have a $25.00 price target on the stock. Six equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $21.45.
Quality Systems (NASDAQ:QSII) traded down 4.11% during mid-day trading on Monday, hitting $17.50. The stock had a trading volume of 422,274 shares. Quality Systems has a 52 week low of $17.01 and a 52 week high of $24.15. The stock has a 50-day moving average of $20.4 and a 200-day moving average of $21.77. The company has a market cap of $1.052 billion and a price-to-earnings ratio of 31.41.
Quality Systems (NASDAQ:QSII) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by $0.10. The company had revenue of $108.90 million for the quarter, compared to the consensus estimate of $113.97 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. Analysts expect that Quality Systems will post $0.81 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, April 4th. Investors of record on Friday, March 14th will be paid a dividend of 0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Wednesday, March 12th.
Quality Systems, Inc develops and markets healthcare information systems that automate certain aspects of medical and dental practices, networks of practices, such as physician hospital organizations (NASDAQ:QSII) and management service organizations (MSOs), ambulatory care centers, and dental schools.
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