Zacks: Analysts Set US $2.36 Price Target for Quarterhill Inc (QTRH)

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Quarterhill Inc (NASDAQ:QTRH) has been assigned an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a buy rating.

Analysts have set a 12-month consensus price target of $2.36 for the company and are anticipating that the company will post ($0.02) EPS for the current quarter, according to Zacks. Zacks has also assigned Quarterhill an industry rank of 129 out of 265 based on the ratings given to its competitors.

A number of equities analysts have recently issued reports on QTRH shares. ValuEngine cut shares of Quarterhill from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Canaccord Genuity cut shares of Quarterhill to a “buy” rating in a research note on Friday, March 2nd. Finally, Zacks Investment Research cut shares of Quarterhill from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th.

Hedge funds have recently made changes to their positions in the company. Ramsey Quantitative Systems acquired a new position in shares of Quarterhill in the 4th quarter valued at $119,000. Pembroke Management LTD raised its stake in shares of Quarterhill by 6.9% in the 4th quarter. Pembroke Management LTD now owns 1,563,600 shares of the company’s stock valued at $3,627,000 after buying an additional 101,000 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Quarterhill by 19.1% in the 4th quarter. Deutsche Bank AG now owns 930,800 shares of the company’s stock valued at $1,712,000 after buying an additional 149,599 shares in the last quarter. Two Sigma Advisers LP acquired a new position in shares of Quarterhill in the 4th quarter valued at $106,000. Finally, Two Sigma Investments LP acquired a new position in shares of Quarterhill in the 4th quarter valued at $603,000. Institutional investors own 12.93% of the company’s stock.

NASDAQ:QTRH traded up $0.06 during trading hours on Tuesday, hitting $1.51. 231,661 shares of the company traded hands, compared to its average volume of 118,558. The stock has a market cap of $171.46, a P/E ratio of 2.90 and a beta of 0.71. Quarterhill has a twelve month low of $1.26 and a twelve month high of $2.20.

Quarterhill (NASDAQ:QTRH) last released its earnings results on Thursday, March 1st. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.01). Quarterhill had a net margin of 7.59% and a return on equity of 20.84%. The company had revenue of $22.63 million for the quarter, compared to analyst estimates of $27.00 million. research analysts forecast that Quarterhill will post -0.02 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 5th. Stockholders of record on Friday, March 23rd were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Thursday, March 22nd. Quarterhill’s dividend payout ratio is 7.69%.

About Quarterhill

Quarterhill Inc, formerly Wi-LAN Inc, is a Canada-based investment holding company focused on growing its business by acquiring technology companies in the Industrial Internet of Things (IIoT) across multiple verticals. The Company targets companies with a broad range of products and services that capture, analyze and interpret data, and that have financial performance, management teams, intellectual property underpinnings and opportunities to develop long-term recurring and growing revenue streams.