Quintiles Transnational Holdings Stock Rating Reaffirmed by Deutsche Bank (Q)
Quintiles Transnational Holdings (NYSE:Q)‘s stock had its “hold” rating restated by research analysts at Deutsche Bank in a report released on Friday. They currently have a $57.00 target price on the stock, up from their previous target price of $54.00. Deutsche Bank’s price objective suggests a potential upside of 3.77% from the company’s current price.
The analysts wrote, “Quintiles reported Q2 results that beat expectations, but non-op items and bookings weighed on shares. EPS of $0.65 beat our estimate and consensus of $0.62 and $0.61, respectively. Relative to our forecast, 1.5c was from better than expected operating margins and 1.5c from investment gains, with FX a tailwind to ops. Total book to bill was 1.19x, benefiting from strength in IHS at 1.42x but offset by PDEV at 1.11x. PDEV was impacted by higher than normal cancellations, with new business down slightly y/y. Management raised 2014 EPS guidance to $2.57 – $2.67, an increase of 11c at the midpoint. We maintain our Hold rating on Q shares on valuation.”
A number of other analysts have also recently weighed in on Q. Analysts at SunTrust upgraded shares of Quintiles Transnational Holdings from a “neutral” rating to a “buy” rating in a research note on Friday. They now have a $65.00 price target on the stock, up previously from $56.00. Separately, analysts at ISI Group raised their price target on shares of Quintiles Transnational Holdings from $56.00 to $59.00 in a research note on Thursday. They now have a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Quintiles Transnational Holdings presently has an average rating of “Buy” and a consensus target price of $57.11.
Quintiles Transnational Holdings (NYSE:Q) traded up 1.53% during mid-day trading on Friday, hitting $55.77. 98,790 shares of the company’s stock traded hands. Quintiles Transnational Holdings has a 1-year low of $40.10 and a 1-year high of $57.33. The stock’s 50-day moving average is $54.02 and its 200-day moving average is $51.33. The company has a market cap of $7.258 billion and a price-to-earnings ratio of 26.93.
Quintiles Transnational Holdings (NYSE:Q) last announced its earnings results on Thursday, July 31st. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.05. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts expect that Quintiles Transnational Holdings will post $2.59 EPS for the current fiscal year.
Quintiles Transnational Holdings Inc is a provider of biopharmaceutical development services and commercial outsourcing services.
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