Citigroup Forecasts Strong Price Appreciation for QinetiQ Group (LON:QQ) Stock

QinetiQ Group (LON:QQ) had its price target increased by research analysts at Citigroup from GBX 5,690 to GBX 6,050 in a note issued to investors on Tuesday,London Stock Exchange reports. The firm currently has a “buy” rating on the stock.

QinetiQ Group Trading Down 6.1%

Shares of QQ traded down GBX 28.80 during midday trading on Tuesday, hitting GBX 444.80. The stock had a trading volume of 1,265,132 shares, compared to its average volume of 88,555. The business has a 50-day simple moving average of GBX 461.64 and a two-hundred day simple moving average of GBX 470.80. The firm has a market cap of £2.45 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 1.47 and a beta of 0.32. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 74.20. QinetiQ Group has a fifty-two week low of GBX 292.20 and a fifty-two week high of GBX 491.

QinetiQ Group (LON:QQ) last issued its quarterly earnings results on Thursday, May 21st. The company reported GBX 31.50 EPS for the quarter. QinetiQ Group had a net margin of 5.59% and a return on equity of 19.34%. The business had revenue of GBX 192.26 billion during the quarter. As a group, equities analysts forecast that QinetiQ Group will post 26.1405108 EPS for the current year.

QinetiQ Group announced that its Board of Directors has approved a stock buyback program on Wednesday, March 25th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

QinetiQ Group Company Profile

QinetiQ Group plc operates as a science and engineering company in the defense, security, and infrastructure markets in the United Kingdom, the United States, Australia, and internationally. The company operates through EMEA Services and Global Solutions segments. It offers advanced materials and manufacturing products; artificial intelligence, analytics, and advanced computing technologies; cyber and electromagnetic technologies; human protection and performance systems; novel systems, and weapons and effects; platform, and system design and assessment products; power sources, and energy storage and distribution products; robotics and autonomy services; secure communications and navigation systems; and sensing, processing, and data fusion systems.