Qurate Retail Inc (NASDAQ: QRTEA) Stock: Can It Go Higher?

In the last trading session, 1.73 million shares of the Qurate Retail Inc (NASDAQ:QRTEA) were traded, and its beta was 2.77. Most recently the company’s share price was $1.13, and it changed around -$0.06 or -5.04% from the last close, which brings the market valuation of the company to $442.68M. QRTEA currently trades at a discount to its 52-week high of $1.80, offering almost -59.29% off that amount. The share price’s 52-week low was $0.40, which indicates that the current value has risen by an impressive 64.6% since then. We note from Qurate Retail Inc’s average daily trading volume that its 10-day average is 2.34 million shares, with the 3-month average coming to 2.89 million.

Qurate Retail Inc (NASDAQ:QRTEA) trade information

Instantly QRTEA has showed a red trend with a performance of -5.04% at the end of last trading. On the other hand, Qurate Retail Inc (NASDAQ:QRTEA) is -19.86% down in the 30-day period. We can see from the shorts that 5.61 million shares have been sold at a short interest cover period of 1.34 day(s).

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Qurate Retail Inc (QRTEA) estimates and forecasts

The year-over-year growth rate is expected to be -9.80%, down from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $3.14 billion in revenue for the current quarter. 1 analysts expect Qurate Retail Inc to make $2.4 billion in revenue for the quarter ending Mar 2024. The company’s sales for the same quarters a year ago were $3.53 billion and $2.64 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -10.90%. Forecasts for the next quarter put sales growth at -9.30%.

Qurate Retail Inc earnings are expected to increase by 279.00% in 2024, but the outlook is negative -8.00% per year for the next five years.

QRTEA Dividends

Qurate Retail Inc’s next quarterly earnings report is expected to be released around May 03 and May 07.

Qurate Retail Inc (NASDAQ:QRTEA)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 8.56% of Qurate Retail Inc shares, and 65.96% of them are in the hands of institutional investors. The stock currently has a share float of 72.13%. Qurate Retail Inc stock is held by 246 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 9.33% of the shares, which is about 35.48 million shares worth $35.12 million.

Contrarius Investment Management Limited, with 9.32% or 35.41 million shares worth $35.05 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Strategic Equity Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 10.11 million shares worth $10.01 million, making up 2.66% of all outstanding shares. On the other hand, Vanguard Strategic Equity Fund held roughly 5.97 million shares worth around $5.91 million, which represents about 1.57% of the total shares outstanding.