09-07-2017: Quad/Graphics, Inc. (QUAD): State-of-Art Commercial Printing

(WAIT FOR PAGE TO LOAD COMPLETELY BEFORE LINKS WORK.)

Corporate Webpages
Company Profile
Company History
News
Comparison with Peers
Bond Issue
Zenith Index
Financial Statements
Avg. P/E to Current P/E
Financial Ratios
Market Grader
Intrinsic Value (Disc. CashFlow)
Tangible Book Value
Projected Earnings
Research Reports
Analysts' Opinions
Insider Activity
Institutional Activity
Sentiment
Short Interest
Standard & Poor's
Management's Discussion
Moving Average Chart
Right Time Study
Channel Potential
MACD Histogram
Intraday Chart
Val Idea
Stock Consultant
Point & Figure Chart
Wall Street Analyzer
Marketspace Chart
Time Series Forecast
Neural Network Prediction
Stock Options
Ultimate Trading Systems
Recommendation

Quad/Graphics, Inc.

Quad/Graphics Inc. (QUAD) is one of those four-letter ticker symbol NYSE stocks. It has a lot of "blurb" on its website regarding all the great things it can do for your business, such as marketing strategy, media planning, data management, facilities and logistics planning, etc. But this is all secondary to its main line of business, "state-of-art" commercial printing. It operates internationally, but one of its biggest customers is Time Magazine for which it does a large share of the printing. There is a lot of blurb coming from the CEO on the company website suggesting a corporate culture not unlike what Sam Walton was to Wal-Mart. It was a little hard to figure from the company's "Management Discussion" or website, but we figure 70-80% of the company revenue comes from commercial printing, and the logistics, planning, media consulting, etc., plays a very subordinate role. In some ways, we regard attempts to get into these other areas as a "lack of focus" for which management is over-compensated, and showing somewhat erratic earnings. The company made a series of serious acquisitions in order to grow financed by multiple credit lines and debt offerings back around 2012. There were also a series of plant closings and layoffs, selling assets in Canada and buying them in Mexico, etc.

The stock pays greater than a 6% dividend and has done so regularly. Institutions are net sellers, but Dimensional Fund Advisors is among large holders and they are acquiring, which we regard as a good sign.

The stock has an unacceptably low Zenith Index indicating fundamental problems, mostly associated with erratic earnings. But balanced against this is an average to current p/e ratio which is very favorable. Market Grader and Standard & Poor's are at opposite conclusions regarding this stock's potential, but we would give preference to S&P's analysis. Researchers and analysts are net positive on the stock, and conclude the company will have little trouble repaying debt and maintaining the dividend.

Net sales have been falling year over year for the past three years. This does not appear to have impacted earnings much.

Analysts point out that a major competitor in a similar line of work, R.R. Donnely looks "cheap" compared to QUAD. QUAD is trying to stay at the forefront of computerized digital printing techniques that offer effects not otherwise achievable. Sales for QUAD broker the billion dollar mark as long ago as 1995.

Despite the high dividend, this does not appear to be a "buy and hold" stock, even though we give it an overall positive rating. It has seen some major decline recently, and has broken out of a former trading band, which we think it could re-enter any time soon, making it a "channeling" stock.

The company relies heavily upon its various "printing hubs" throughout the nation. We would like to see more big-ticket printing contracts from major companies like Hearst or Time. 



[Home]
Corporate Wepages

Trade Mark

01

2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24



[Home]
Company Profile

Profile
Profile



[Home]
Company History
6 7 8 9 10


[Home]
News

Click Here for News Archives



[Home]
Comparison

Comparison

Groups 1
Groups 2
Groups 3


Companies 1

Similar Companies Performance:

55 56
57 58
59 60


[Home]
Bond Issue

22 23



[Home]
Zenith Index

Under current market conditions, a Zenith Index Score of 1.20 or above is required for a positive rating on this factor. 1.21 -1.30 is considered acceptable, 1.30-1.40 is considered strong and
> 1.40 is considered exceptionally strong. Accounting statements in this section often contain mistakes, especially in earlier years' totals, but data is deemed sufficient for us to give a rating. More accurate financial statements follow in the next section.

Quad/Graphics, Inc. (QUAD)                                Exchange: New Yo
N61 W23044 Harry's Way
Sussex, WI 53089                 Sector: Services
United States                    Industry:Business Services

Quad/Graphics, Inc. provides print and other media services in the
United States, Europe, Latin America, and internationally. It operates
through United States Print and Related Services, and International
segments. The company offers printing services, including retail
inserts, publications, catalogs, special interest publications,
journals, direct mail, books, directories, in-store marketing and
promotion, packaging, newspapers, custom print products, other
commercial and specialty printed products; and paper procurement
services. It also provides marketing and other services, such as
marketing strategy, media planning and placement, data insights,
segmentation and response analytics services, creative services,
videography, photography, workflow solutions, digital imaging,
facilities management, and digital publishing services. In addition, the
company offers interactive print solutions comprising image recognition
and near field communication technology, mailing, distribution,
logistics, and data optimization and hygiene services. Further, it
manufactures ink. The company serves various blue chip companies that
operate in various industries; and businesses and consumers that include
retailers, publishers, and direct marketers. Quad/Graphics, Inc. was
founded in 1971 and is headquartered in Sussex, Wisconsin.

Last Trade:  19.06                           52-Week Range:  29.04 -  18.16
Employees: 22,600                            Avg.Volume:     242,134 Shares

Corporate Governance:
Pillar scores are Audit: 1; Board: 9; Shareholder Rights: 7; Compensation: 9.
         (A lower number means less governance risk.)

EPS:  1.31    Dividend Amount: $ 1.20          Yield:  6.25%
             Ex-Dividend Date: May 18, 2017    Payout Ratio:  75.00

Key Statistics:

    Trailing P/E:  14.68              Forward P/E (est.):   9.37
                                           Target Price:  36.00

Qrtly Stock Price Growth (yoy): -31.07%               Beta:   1.62
Qrtly S&P Index   Growth (yoy):  -6.70%        Short Ratio:   5.38%
    Qrtly Revenue Growth (yoy):  13.04%         Shares Out:  38060000
   Qrtly Earnings Growth (yoy):   0.00%

          Book Value:   8.86                    Debt/Equity: 235.11%
    Price/Book Value:   2.17        Operating Profit Margin:   5.60%
         Price/Sales:   0.24                  Profit Margin:   1.92%
         Market Cap:     999,715,000       Return on Equity:  18.94%
    Enterprise Value:               0      Return on Assets:   5.89%

    Operating Cash Flow:    245,100,000
         Free Cash Flow:    243,160,000



Annual Income Statement:                          (All numbers in thousands)
  Period Ending                             12/31/2016  12/31/2015  12/31/2014

  Total Revenue                              4,329,500   4,597,100   4,777,600
  Cost of Revenue                            3,394,800   3,680,300   3,807,100
  Gross Profit                                 934,700     916,800     970,500

Operating Expenses:
  Research & Development                             0           0           0
  Selling, General & Administrative            454,600     448,300     425,500
  Non-Recurring Expenses                        80,600     973,200      67,300
  Other Operating Expenses                     277,100     325,300     336,400
  Total Operating Expenses                           0           0           0

Operating Income or Loss                       122,400    -830,000     141,300

Income from Continuing Operations:
  Total Other Income/Expenses Net               14,100      14,100      -7,200
  Earnings Before Interest & Taxes             122,400    -830,000     141,300
  Interest Expense                              77,200      88,400      92,900
  Income Before Taxes                           45,200    -918,400      48,400
  Income Tax Expense                            13,000    -282,800      20,200
  Minority Interest                                  0           0           0

Net Income from Continuing Op.s                 44,900    -641,900      18,600

Non-recurring Events:
  Discontinued Operations                            0           0           0
  Extraordinary Items                                0           0           0
  Effect of Accounting Changes                       0           0           0
  Other Items                                        0           0           0
  Net Income                                    44,900    -641,900      18,600
  Preferred Stock & Other Adjustments                0           0           0

Net Income Avail to Common Shares               44,900    -641,900      18,600



Annual Cash Flow Statement:                   (All numbers in thousands)
  Period Ending                         12/31/2016    12/31/2015    12/31/2014

  Net Income                                44,900      -641,900        18,600

Operating Activities:
  Depreciation                             281,300       329,700       340,600
  Adjustments to Net Income                    700       626,500        63,900
  Changes in Accounts Recv'bls              84,800       109,600       -20,400
  Changes in Liabilities                   -16,100       -60,500       -22,400
  Changes in Investories                    12,700        24,600        -3,400
  Changes in other Oper'g Acts             -55,800       -39,900       -83,400

Total Cash Flow f Operations               352,500       348,100       293,200

Investing Activities:
  Capital Exenditures                     -106,100      -133,000      -139,200
  Investments                               -8,600        12,800        -4,100
  Other Cash Flows fr Investing             30,300       -96,500       -80,900

Total Cash Flows from Investing            -84,400      -216,700      -224,200

Financing Activities:
  Dividends Paid                           -61,100       -62,300       -61,200
  Sale of Purchase of Stock                 20,100           600         1,700
  Net Borrowings                          -227,900       -68,900        11,500
  Other Cash Flows fr Financing               -300          -100       -80,900

Total Cash Flows from Financing           -269,300      -127,900       -71,700

  Effect of Exchange Rate Chg                 -600        -2,300          -800

Change in Cash & Cash Equiv.                -1,800         1,200        -3,500



Annual Balance Sheets:                              (All Numbers in Thousands)
  Period Ending                          12/31/2016    12/31/2015    12/31/2014
Current Assets:
  Cash & Cash Equivalents                    19,200        24,300        40,800
  Short Term Investments                          0             0             0
  Net Receivables                           563,600       648,700       766,200
  Inventory                                 265,400       280,100       287,800
  Other Current Assets                       54,400        38,200        39,100
  Total Current Assets                      902,600       991,300     1,133,900

  Long-Term Investments                       3,600         4,400        42,000
  Property, Plant & Equipt                1,519,900     1,675,800     1,855,500
  Goodwill                                        0             0       775,500
  Intangible Assets                          59,700       110,500       149,100
  Accumulated Amortization                        0             0             0
  Other Assets                               84,300        65,500        52,800
  Deferred LT Asset Charges                       0             0             0

Total Assets                              2,570,100     2,847,500     4,008,800

Current Liabilities:
  Accounts Payable                          680,200       706,300       765,000
  Current Portion LT Debt                    92,100        99,700        96,200
  Other Current Liabilities                   2,300         1,400         1,400
  Total Current Liabilities                 774,600       807,400        862,600

  Long Term Debt                            680,200       706,300       765,000
  Other Liabilities                          92,100        99,700        96,200
  Deferred LT Liab. Charges                   2,300         1,400         1,400
  Minority Interest                               0             0             0
  Negative Goodwill                               0             0             0

Total Liabilities                         2,152,300     2,364,600     2,856,300

Stockholder Equity:
  Misc. Options, Warrants                         0             0             0
  Redeemable Preferred Stock                      0             0             0
  Preferred Stock                                 0             0             0
  Common Stock                                1,400         1,400         1,400
  Retained Earnings                        -206,400      -188,100       515,200
  Treasury Stock                           -113,300      -193,600      -218,800
  Capital Surplus                           912,400       956,700       971,300
  Other Stockhohlder Equity                -152,600      -152,500      -116,600
  Total Stockholder Equity                  441,500       423,900     1,152,500

Net Tangible Assets                         381,800       313,400       227,900



Quad/Graphics, Inc. (QUAD)                  [Indices near +3.0, near zero,
                                            or < zero bear special attention.]
P/E Ratio Tests:
P/E Ratio < 28?            1.9074          P/E Ratio > 5?             1.0000
P/E Ratio Vs Growth Rate:  0.0000          Forward P/E Ratio < 28?    2.9883
Price/Sales Ratio < 2.3?   3.0000          Inventory/Sales < 5%?      0.8157
Sales < $1 Billion?        0.2310          Operating Margin < 7.5%?   1.3393

Balance Sheet Tests:
Debt/Equity < 0.40?        0.1701          Long-Term Debt Service:    0.4002
LTD Being Reduced?         3.0000          Short-Term Debt Service:   1.5855
Current Ratio > 2?         0.5826          Working Capital >= 1.5?    1.3044
Leverage Ratio < 20%?      0.1729          Debt/Assets < 1?           2.4615
Quick Ratio > 1?           3.0000          Inventory Turnover > 1?    0.3267
Share Equity Increase:     1.4093          Market Cap.< 1.5 Billion?  1.5004
                                           Intangibles < 3% Assets?   1.2915
Income Tests:
Profit Margin < 7.5%?      0.2560          EPS Annual Growth > 10%?  -1.4296
Dividend Yield > 2.0%?     0.3200          EPS 3-yr Growth > 15?      0.0621
Enterprise Value/Revenue   0.2311          EPS Growth Consistent?     0.0000
Enterprise Value/EBITDA:   3.0000          Collection < 45 days?      0.9471
EPS Qrtly Growth > 10%?    0.0000          Gross Pft/Cur. LTD > 1?    3.0000
                                           Borrowing Int. Rate < 6%?  0.8115
Stock Performance Tests:
Volatility > 25%?          1.4986          % Held by Insiders < 5%?   0.2698
Beta > 1.25?               1.2960          % Held by Institut. < 50?  0.7634
50 Da MA > 200 Da MA?     -0.4470          % Held by Institut. > 30?  2.1833
52-Wk Change vs. S&P 500: -2.3827          Short Ratio > 5?           1.0760
Price/Book Value < 3?      1.3945          Short % of Float > 20?     0.2640
Return on Assets > 17%?    0.3465          Average Volume > 100,000?  2.4213

Cash Flow Tests:
Oper. C.F. > Lever'd C.F:  1.0080          Positive Free Cash Flow?   3.0000
Positive Oper. Cash Flow?  3.0000          Price to C.F.Ratio < 14?:  3.0000
                                           Cash Flow / Assets > 10%?  2.7478

QUAD   Quad/Graphics, Inc.                 Overall Zenith Index:      1.1654


[Home]
Financial Statements

QUAD/GRAPHICS INC CLASS A  (QUAD)           INCOME STATEMENT

Fiscal year ends in December.                        2012-12         2013-12         2014-12         2015-12         2016-12             TTM           

Revenue                                        4,094,000,128   4,795,899,904   4,862,400,000   4,677,700,096   4,329,500,160   4,216,499,968
Cost of revenue                                3,183,500,032   3,801,900,032   3,891,899,904   3,760,900,096   3,394,800,128   3,316,400,128
Gross profit                                     910,499,968     994,000,000     970,499,968     916,800,000     934,700,032     900,099,968


Operating expenses
Sales, General and administrative                347,100,000     416,000,000     425,500,000     448,300,000     469,800,000     435,500,000
Restructuring, merger and acquisition            118,300,000      95,300,000      67,300,000     164,900,000      38,600,000      16,800,000
Other operating expenses                         338,600,000     340,500,000     336,400,000   1,133,600,000     303,900,000     265,400,000
Total operating expenses                         804,000,000     851,800,000     829,200,000   1,746,800,000     812,300,032     717,699,968

Operating income                                 106,500,000     142,200,000     141,300,000    -830,000,000     122,400,000     182,400,000
Interest Expense                                  84,000,000      85,500,000      92,900,000      88,400,000      77,200,000      73,700,000
Other income (expense)                                     0               0      -7,200,000               0      14,100,000      -2,600,000
Income before taxes                               22,500,000      56,700,000      41,200,000    -918,400,000      59,300,000     106,100,000
Provision for income taxes                       -31,500,000      23,300,000      20,200,000    -282,800,000      13,000,000      25,300,000
Other income                                       2,300,000      -2,500,000      -2,700,000      -6,300,000      -1,400,000         100,000
Net income from continuing operations             56,300,000      30,900,000      18,300,000    -641,900,032      44,900,000      80,900,000
Net income from discontinuing ops                 30,800,000               0               0               0               0               0
Other                                                300,000       1,600,000         300,000               0               0               0
Net income                                        87,400,000      32,500,000      18,600,000    -641,900,032      44,900,000      80,900,000
Net income available to common shareholders       87,400,000      32,500,000      18,600,000    -641,900,032      44,900,000      80,900,000

Earnings per share
Basic                                                   1.80            0.67            0.39          -13.40            0.94            1.67 
Diluted                                                 1.78            0.65            0.38          -13.40            0.90            1.60 

Weighted average shares outstanding
Basic                                             46,800,000      47,000,000      47,500,000      47,900,000      47,900,000      48,800,000
Diluted                                           47,200,000      48,000,000      48,500,000      47,900,000      49,800,000      51,850,000

____________________________________________________________________________________________________________________________________________


QUAD/GRAPHICS INC CLASS A  (QUAD)           BALANCE SHEET

Fiscal year ends in December.                        2012-12         2013-12         2014-12         2015-12         2016-12             

Assets

Current assets

Cash

Total cash                                        16,900,000      13,100,000       9,600,000      10,800,000       9,000,000

Receivables                                      585,100,032     698,899,968     766,200,000     648,700,032     563,600,000
Inventories                                      242,900,000     272,500,000     287,800,000     280,100,000     265,400,000
Deferred income taxes                             55,700,000      48,100,000      48,400,000               0               0
Prepaid expenses                                  74,600,000      37,200,000      39,100,000      38,200,000      54,400,000
Other current assets                              14,800,000       4,500,000      31,200,000      13,500,000      10,200,000
Total current assets                             990,000,000   1,074,300,032   1,182,300,032     991,299,968     902,600,000

Non-current assets

Property, plant and equipment
Gross property, plant and equipment            4,692,599,808   4,839,199,744   4,973,199,872   4,910,700,032   4,887,000,064
Accumulated Depreciation                      -2,766,200,064  -2,913,700,096  -3,117,700,096  -3,234,899,968  -3,367,099,904
Net property, plant and equipment              1,926,400,000   1,925,500,032   1,855,500,032   1,675,800,064   1,519,900,032

Equity and other investments                      72,000,000      57,100,000      42,000,000       4,400,000       3,600,000
Goodwill                                         768,600,000     773,100,032     775,500,032               0               0
Intangible assets                                229,900,000     221,800,000     149,100,000     110,500,000      59,700,000
Other long-term assets                           112,000,000     113,900,000      72,800,000      65,500,000      84,300,000
Total non-current assets                       3,108,900,096   3,091,399,936   2,894,899,968   1,856,199,936   1,667,500,032

Total assets                                   4,098,899,968   4,165,700,096   4,077,199,872   2,847,500,032   2,570,099,968 

Liabilities and stockholders' equity

Liabilities

Current liabilities
Short-term debt                                  113,300,000     127,600,000      92,000,000      94,600,000      84,700,000
Capital leases                                    10,400,000       7,000,000       4,200,000       5,100,000       7,400,000
Accounts payable                                 285,800,000     401,000,000     406,900,000     358,800,000     323,500,000
Taxes payable                                     43,600,000      46,300,000      40,100,000      29,100,000      24,600,000
Accrued liabilities                              200,400,000     304,400,000     318,000,000     318,400,000     332,100,000
Other current liabilities                         99,300,000       2,500,000       1,400,000       1,400,000       2,300,000
Total current liabilities                        752,800,000     888,800,000     862,600,000     807,400,000     774,600,000

Non-current liabilities
Long-term debt                                 1,235,500,032   1,283,699,968   1,328,700,032   1,247,000,064   1,025,200,000
Capital leases                                    15,300,000       6,500,000       9,700,000       9,700,000      18,900,000
Deferred taxes liabilities                       363,900,000     395,200,000     384,400,000      59,000,000      35,300,000
Accrued liabilities                                        0               0               0               0     251,700,000
Pensions and other benefits                                0     109,200,000     200,600,000     167,000,000               0
Minority interest                                    300,000      -1,300,000               0               0               0
Other long-term liabilities                      495,700,000     194,700,000     138,700,000     133,500,000      22,900,000
Total non-current liabilities                  2,110,700,032   1,988,000,000   2,062,099,968   1,616,199,936   1,354,000,000

Total liabilities                              2,863,500,032   2,876,800,000   2,924,699,904   2,423,600,128   2,128,600,064 

Stockholders' equity

Common stock                                       1,400,000       1,400,000       1,400,000       1,400,000       1,400,000
Additional paid-in capital                       985,600,000     983,100,032     971,299,968     956,700,032     912,400,000
Retained earnings                                588,099,968     558,800,000     515,200,000    -188,100,000    -206,400,000
Treasury stock                                  -279,300,000    -248,800,000    -218,800,000    -193,600,000    -113,300,000
Accumulated other comprehensive income           -60,400,000      -5,600,000    -116,600,000    -152,500,000    -152,600,000
Total stockholders' equity                     1,235,399,936   1,288,899,968   1,152,499,968     423,900,000     441,500,000
Total liabilities and stockholders' equity     4,098,899,968   4,165,700,096   4,077,199,872   2,847,500,032   2,570,099,968

____________________________________________________________________________________________________________________________________________


QUAD/GRAPHICS INC CLASS A  (QUAD)           Statement of CASH FLOW

Fiscal year ends in December. USD.                   2012-12         2013-12         2014-12         2015-12         2016-12             TTM           

Cash Flows From Operating Activities
Net income                                        87,100,000      30,900,000      18,300,000    -641,900,032      44,900,000      80,900,000
Depreciation & amortization                      338,600,000     340,500,000     336,400,000     325,300,000     277,100,000     238,600,000
Amortization of debt discount/premium and is       4,500,000       4,100,000       4,200,000       4,400,000       4,200,000       3,800,000
Investment/asset impairment charges               23,000,000      21,800,000      14,400,000     903,600,000      26,800,000      10,700,000
Deferred income taxes                            -13,600,000     -11,100,000      26,800,000    -292,500,000     -26,600,000     -18,700,000
Stock based compensation                          13,400,000      18,600,000      17,300,000       7,200,000      15,200,000      16,700,000
Inventory                                          8,600,000         500,000      -3,400,000      24,600,000      12,700,000               0
Prepaid expenses                                  33,900,000      15,200,000      -5,200,000       4,000,000     -18,000,000               0
Other working capital                            -92,200,000      16,000,000    -121,000,000       5,200,000      30,900,000     -81,600,000
Other non-cash items                             -49,100,000       4,600,000       5,400,000       8,200,000     -14,700,000      -5,300,000
Net cash provided by operating activities        354,200,000     441,100,000     293,200,000     348,100,000     352,500,000     245,100,000

Cash Flows From Investing Activities
Investments in property, plant, and equipmen    -103,500,000    -149,500,000    -139,200,000    -133,000,000    -106,100,000    -108,300,000
Property, plant, and equipment reductions         23,500,000       8,800,000       6,800,000      29,200,000      25,900,000      36,900,000
Acquisitions, net                                -37,400,000    -291,900,000    -112,500,000    -143,400,000               0         900,000
Purchases of investments                         -18,100,000      -2,500,000      -4,100,000      -1,200,000      -9,900,000               0
Sales/Maturities of investments                            0               0               0      14,000,000       1,300,000               0
Other investing activities                        65,400,000       4,500,000      24,800,000      17,700,000       4,400,000      13,800,000
Net cash used for investing activities           -70,100,000    -430,600,000    -224,200,000    -216,700,000     -84,400,000     -56,700,000

Cash Flows From Financing Activities
Debt issued                                      270,300,000   1,628,800,000   2,456,900,096   1,462,499,968     891,600,000   1,029,200,000
Debt repayment                                  -406,200,000  -1,592,000,000  -2,445,400,064  -1,531,399,936  -1,119,500,032  -1,170,000,000
Common stock issued                                  100,000       7,200,000               0               0               0               0
Common stock repurchased                                   0               0               0               0      -8,800,000               0
Dividend paid                                   -151,800,000     -56,400,000     -61,200,000     -62,300,000     -61,100,000     -63,300,000
Other financing activities                         2,000,000       2,200,000     -22,000,000       3,300,000      28,500,000      16,200,000
Net cash provided by (used for) financing       -285,600,000     -10,200,000     -71,700,000    -127,900,000    -269,300,000    -187,900,000

Effect of exchange rate changes                   -7,200,000      -4,100,000        -800,000      -2,300,000        -600,000        -500,000
Net change in cash                                -8,700,000      -3,800,000      -3,500,000       1,200,000      -1,800,000               0
Cash at beginning of period                       25,600,000      16,900,000      13,100,000       9,600,000      10,800,000       8,700,000
Cash at end of period                             16,900,000      13,100,000       9,600,000      10,800,000       9,000,000       8,700,000

Free Cash Flow
Operating cash flow                              354,200,000     441,100,000     293,200,000     348,100,000     352,500,000     245,100,000
Capital expenditure                             -103,500,000    -149,500,000    -139,200,000    -133,000,000    -106,100,000    -108,300,000
Free cash flow                                   250,700,000     291,600,000     154,000,000     215,100,000     246,400,000     136,800,000
____________________________________________________________________________________________________________________________________________





[Home]
Average to Current P/E Ratios
              (QUAD)     Quad/Graphics Inc.

                               2012    2013    2014    2015    2016

          Annual Earnings:     1.06    0.65    0.38  -13.40    0.90
Average Price During Year:    15.04   25.22   22.39   18.29   19.00

                P/E Ratio:    14.19   38.80   58.93    1.36   21.12

 Average 5-Year P/E Ratio  =  26.88
             Current Price =  18.66

Previous 5 Quarter Earnings:  -0.16    0.22    0.73    0.49    0.13

           Current Annualized (Last Four Quarters) Earnings =  1.35
                                                           ________
                                 Average PE / Current PE =     1.94
                                                           --------

                                      ...a number above 1.00 is good
                                                1.00 or below is bad


[Home]
Financial Ratios

. . . . . . . . . . . . 1 = Highest , 10 = Lowest



[Home]
Market Grader

900
901 902 903 904 905 906 907 908 909 910



[Home]
Intrinsic Value (DCF)

Intrinsic Value by Discounted Cash Flow Method:

Intrinsic Value



[Home]
Book Value

Tangible Book Value:

Book Value



[Home]
Projected Earnings

Earnings Estimates
Earnings Estimates



[Home]
Research Reports

Click Here for Research Reports



[Home]
Analysts' Opinions

Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 2



[Home]
Insider Activity

Insiders Chart Insider Trades
Insider Trades
Executive Compensation Executive Compensation



[Home]
Institutional Activity

Institutional Orders to Buy or Sell:

institutions 1
Ownership:

institutions 2


[Home]
Sentiment

sentiment

Zenith uses the "sentiment" score above or below 50 to award a positive or negative point in the Decision Matrix.

sentiment sentiment sentiment



[Home]
Short Interest Ratio

As the short interest rises as a percentage of average daily share volume (Days to Cover), this is considered a measure of negative sentiment. Similarly, a decrease in that percentage is considered positive sentiment.

short interest short interest


[Home]
Standard & Poor's

S&P Stock Report (Requires Adobe Acrobat Reader)



[Home]
Management's Discussion of Results of Operations Excerpts

Click Here for Management's Discussion Excerpts



[Home]
Moving Average Chart



[Home]
Right Time Study



[Home]
Channeling Potential

 
The summary below includes a value for `Degree,' which refers on a
scale of 1 to 10 the range of a channel in the period under consi-
deration compared to the total range of price movement. It also looks
for the last closing price to be within the channel, otherwise zeroed.
The `Index' is the `Degree' weighted for volatility.  Generally, the
the higher the index, the more suitable is the stock for trading as
a `rolling stock' between channel high and low points.

Results for QUAD/GRAPHICS INC.:
Symbol? QUAD
Total Months Available:  86
       Months in Cycle?   4

Months Covered by Periods:  12

Period 1           Period 2          Period 3
   H1      L1        H2      L2        H3      L3
  28.64   22.76     29.04   21.33     27.98   18.16

RANGE   =  29.04  TO   18.16            Close =  19.21
CHANNEL =  27.98  TO   22.76           Degree =   5
Volatility =  27.17%                    Index =  13

Channel Chart



[Home]
MACD Histogram Divergence

The theory is that connecting the two most recent peaks or valleys of the MACD histogram will signal the direction of the next major move.



[Home]
Intraday Chart

2 Days:



[Home]
Val Idea

4 out of 8 favorable, (neutral opinion.)

Val Idea


[Home]
Stock Consultant

Stock Consultant Stock Consultant



[Home]
Point & Figure Chart

P & F Chart


[Home]
Wall Street Analyzer






[Home]
Marketspace Chart

Marketspace Chart



[Home]
Time Series Forecast

Time Series 1 Time Series 2


[Home]
Neural Network Prediction

"Neurostock" can only track long trades. Therefore its performance, as tracked by itself on stocks which are consistently falling, may not appear as good as it could if each "sell" signal were a "short sale."

Neural Chart
Heading
Neural Trades Neural Prediction



[Home]
Ultimate Trading Systems

2 out of 3 of the ultimate systems favor a downmove.


System Below:
Short term outlook: Positive: Bright Green, Negative: Bright Red
Long term outlook: Postive: Dark Green, Negative: Dark Red.




[Home]
Recommendation

Decision Weighting Factors
FactorsWeighted Points
News + 1
Comparison - 1
Industry - 1
Bond Issue + 1
Zenith Index - 1
Non-GAAP vs. GAAP Earnings - 1
Cash Flow - 1
Average to Current P/E + 1
Ratios - 1
Market Grader - 1
Intrinsic Value DCF + 1
Tangible Book Value - 1
Projected Earnings + 1
Research Reports + 1
Analysts + 1
Executive Perquisites - 1
Insider Activity - 1
Institutional Activity - 1
Management Reporting + 1
Short Interest + 1
Sentiment - 1
Standard & Poor's + 1
Moving Average + 1
Right Time Study + 1
MACD Histogram Divergence + 1
Val Idea 0
Stock Consultant + 1
Point & Figure - 1
Wall Street Analyzer + 1
Marketspace Chart + 1
Time Series Chart - 1
Neural Network + 1
Stock Options + 1
Ultimate Trading Systems - 1
Total + 3
Place 1,560 shares of Quad/Graphics, Inc. (QUAD ) on the Active List.