Quality Systems Trading Down 6.8% Following Weak Earnings (QSII)
Quality Systems (NASDAQ:QSII) shares traded down 6.8% during mid-day trading on Friday after the company announced weaker than expected quarterly earnings, American Banking News.com reports. The company traded as low as $15.15 and last traded at $15.33, with a volume of 904,995 shares changing hands. The stock had previously closed at $16.45.
The company reported $0.12 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.16 by $0.04. The company had revenue of $115.20 million for the quarter, compared to the consensus estimate of $112.22 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Credit Suisse reiterated an “underperform” rating on shares of Quality Systems in a research note on Friday. They now have a $17.00 price target on the stock, down previously from $20.00. Separately, analysts at Deutsche Bank upgraded shares of Quality Systems to a “sell” rating in a research note on Friday. They now have a $12.00 price target on the stock, down previously from $15.00. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Quality Systems in a research note on Friday. They now have a $17.50 price target on the stock, down previously from $20.00. Seven research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. Quality Systems presently has an average rating of “Hold” and a consensus target price of $19.29.
The stock has a 50-day moving average of $15.49 and a 200-day moving average of $18.39. The company has a market cap of $919.4 million and a P/E ratio of 162.87.
Quality Systems, Inc operates as four business divisions which: the QSI Dental Division, the NextGen Division, the Hospital Solutions Division and the RCM Services Division.
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