Liberty Media’s QRTEA stock has hit a new 52-week low, with shares plummeting to just $0.35. This significant drop is part of a downward trend that has seen the stock’s value decrease by an alarming 65.35% over the past year. The company, which generates annual revenue of $10.24 billion, now has a market capitalization of just $139.45 million and trades at a low Price/Book ratio of 0.42. Investors are closely monitoring the company’s performance, as this new low point raises concerns about the stock’s stability and the broader implications for its financial health. According to InvestingPro analysis, while the stock shows high price volatility, analysts expect net income growth this year. The market is now keenly awaiting Liberty Media’s next move to address this decline and restore investor confidence. For deeper insights into QRTEA’s valuation and 12+ additional ProTips, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Qurate Retail, Inc. has been granted a 180-day extension from the Nasdaq Stock Market to meet the minimum bid price requirement and maintain its listing. The company, with an annual revenue of $10.24 billion, has transferred its securities from the Nasdaq Global Select Market to the Nasdaq Capital Market to address its non-compliance with Nasdaq’s minimum bid price rule. Qurate Retail is considering all available options, including a potential reverse stock split, to regain compliance before the extension deadline.
In another development, Citi has revised its price target for Qurate Retail to $0.50, maintaining a Neutral rating on the stock. The adjustment follows Qurate Retail’s financial performance, which fell short of Citi’s expectations. The company reported a revenue decline of 9.4% to $10.24 billion, and a negative EPS of $0.70.
Qurate Retail faced challenges in the third quarter of 2024, with a decrease in customer count and revenue falling short of expectations. Despite these headwinds, the company saw a 19% increase in Adjusted OIBDA and a nearly $400 million increase in free cash flow from December 2022 to September 2024. The company is focusing on improving cost efficiencies and adapting to changing consumer habits.
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