Canadian Imperial Bank of Commerce Has Lowered Expectations for Quarterhill (TSE:QTRH) Stock Price

Key Points

• Canadian Imperial Bank of Commerce cut Quarterhill’s price target from C$4.50 to C$4.00, implying approximately 38% upside from the stock’s C$2.89 price. Separately, ATB Cormark upgraded the shares to “top pick” and raised its target to C$5.00.
• Quarterhill shares fell 2.7% to C$2.89 during Wednesday trading, though analysts maintained a consensus “Strong Buy” rating with an average target price of C$4.50.
• The company reported a quarterly loss of C$0.07 per share on C$60.4 million in revenue, while director Stephen A. Smith purchased 13,000 shares worth C$39,520, increasing his holdings by 76.47%.

Quarterhill (TSE:QTRH - Get Free Report) had its target price decreased by Canadian Imperial Bank of Commerce from C$4.50 to C$4.00 in a report released on Wednesday, BayStreet reports. Canadian Imperial Bank of Commerce's price objective would suggest a potential upside of 38.41% from the stock's current price.

Separately, ATB Cormark Capital Markets raised Quarterhill from an "outperform" rating to a "top pick" rating and raised their price objective for the company from C$4.40 to C$5.00 in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Quarterhill currently has a consensus rating of "Strong Buy" and an average target price of C$4.50.

Quarterhill Stock Down 2.7%

Shares of QTRH stock traded down C$0.08 during mid-day trading on Wednesday, reaching C$2.89. 224,264 shares of the company's stock traded hands, compared to its average volume of 225,073. The company's 50-day moving average price is C$2.74 and its 200-day moving average price is C$2.08. The company has a market cap of C$410.96 million, a P/E ratio of -6.72, a P/E/G ratio of 0.46 and a beta of -0.06. The company has a quick ratio of 2.58, a current ratio of 1.19 and a debt-to-equity ratio of 93.85. Quarterhill has a 12 month low of C$0.89 and a 12 month high of C$3.33.

Quarterhill (TSE:QTRH - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported C($0.07) earnings per share (EPS) for the quarter. The business had revenue of C$60.40 million during the quarter. Quarterhill had a negative return on equity of 56.86% and a negative net margin of 31.81%. On average, equities analysts expect that Quarterhill will post 0.0200567 earnings per share for the current fiscal year.

Insider Transactions at Quarterhill

In other Quarterhill news, Director Stephen A. Smith bought 13,000 shares of Quarterhill stock in a transaction on Friday, August 14th. The stock was acquired at an average price of C$3.04 per share, with a total value of C$39,520.00. Following the acquisition, the director owned 30,000 shares in the company, valued at approximately C$91,200. This trade represents a 76.47% increase in their ownership of the stock. Company insiders own 1.72% of the company's stock.

About Quarterhill

Quarterhill is a global leader in the Intelligent Transportation System (ITS) industry, advancing mobility through smart infrastructure solutions that reduce congestion, improve roadway safety, and create more sustainable travel. Each year, Quarterhill's platforms process billions of transactions, perform compliance and safety inspections on millions of commercial vehicles, and enable transportation agencies worldwide to optimize thousands of lanes of traffic to improve travel for everyone. Leveraging advanced artificial intelligence and machine learning technologies, Quarterhill's platform delivers automation and predictive insight to help agencies manage transportation networks more efficiently.

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