CIBC Forecasts Strong Price Appreciation for Quebecor (TSE:QBR.B) Stock

Quebecor (TSE:QBR.B) had its target price upped by equities researchers at CIBC from C$54.00 to C$57.00 in a report released on Tuesday,BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 13.34% from the stock’s previous close.

QBR.B has been the topic of several other reports. National Bankshares downgraded Quebecor from an “outperform” rating to a “sector perform” rating and set a C$54.00 price target on the stock. in a research report on Wednesday, November 19th. BMO Capital Markets upped their price target on shares of Quebecor from C$47.00 to C$53.00 in a research report on Monday, November 10th. TD Securities increased their price objective on Quebecor from C$49.00 to C$52.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Scotiabank increased their price objective on shares of Quebecor from C$43.25 to C$43.50 and gave the company a “sector perform” rating in a report on Monday, October 20th. Finally, Desjardins upped their price target on Quebecor from C$43.00 to C$47.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$50.19.

Quebecor Stock Performance

Shares of Quebecor stock opened at C$50.29 on Tuesday. The company has a 50 day moving average price of C$47.65 and a 200 day moving average price of C$43.20. The firm has a market capitalization of C$11.49 billion, a P/E ratio of 14.17, a PEG ratio of 1.43 and a beta of 0.55. The company has a quick ratio of 0.35, a current ratio of 1.01 and a debt-to-equity ratio of 363.97. Quebecor has a 52 week low of C$30.02 and a 52 week high of C$53.32.

Quebecor (TSE:QBR.B) last issued its quarterly earnings results on Thursday, November 6th. The company reported C$1.05 earnings per share (EPS) for the quarter. The business had revenue of C$1.41 billion for the quarter. Quebecor had a net margin of 12.99% and a return on equity of 37.44%.

About Quebecor

Quebecor primarily provides mobile and fixed-line telecom services in Quebec where it is the leading telecom provider. With more than 1.8 million internet subscribers Quebecor provides internet service to more than 60% of the homes its network passes. It also has about 1.6 million mobile subscribers representing more than 20% wireless market share in Quebec.