Stock Alert: Quad/Graphics Jumps 24% After Reporting Profit

(RTTNews) - Shares of Quad/Graphics Inc. (QUAD) are gaining more than 24 percent in the morning trade on Wednesday at $6.34, after the digital and print marketing solutions provider reported a turnaround to profit in the fourth quarter.

The stock has traded in a range of $3.63 to $16.88 in the past 52 weeks.

Tuesday, Quad/Graphics said fourth-quarter net earnings attributable to its common shareholders were $7.5 million or $0.15 per share, compared to net loss of $20.8 million or $0.42 per share.

On adjusted basis, excluding items, earnings from continuing operations were $0.38, compared to adjusted earnings of $0.72 per share last year. Net sales for the quarter declined 4.9 percent to $1.07 billion from $1.12 billion in the prior year.

Looking ahead to fiscal 2020, Quad/Graphics forecast net sales in a range of $3.5 billion to $3.7 billion, compared to fiscal 2019 net sales of $3.92 billion. The company also said it has doubled its previously announced $50 million cost reduction program to $100 million, which it expects to fully realize in 2020.