Quebecor (TSE:QBR.B) Sets New 1-Year High After Analyst Upgrade

Quebecor, Inc. (TSE:QBR.B)’s share price hit a new 52-week high during trading on Monday after Canaccord Genuity Group upgraded the stock from a hold rating to a buy rating. Canaccord Genuity Group now has a C$60.00 price target on the stock, up from their previous price target of C$51.25. Quebecor traded as high as C$57.94 and last traded at C$57.67, with a volume of 310518 shares changing hands. The stock had previously closed at C$56.41.

QBR.B has been the subject of a number of other reports. Canadian Imperial Bank of Commerce boosted their target price on shares of Quebecor from C$57.00 to C$61.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. National Bank Financial boosted their price objective on shares of Quebecor from C$54.00 to C$57.00 and gave the company a “sector perform” rating in a research report on Friday, February 27th. TD Securities lowered shares of Quebecor from a “buy” rating to a “hold” rating and raised their target price for the stock from C$58.00 to C$60.00 in a research report on Friday, February 27th. Scotiabank lifted their price target on shares of Quebecor from C$51.25 to C$54.50 and gave the company a “sector perform” rating in a research note on Friday, February 27th. Finally, Desjardins increased their price objective on Quebecor from C$54.00 to C$61.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Quebecor currently has a consensus rating of “Moderate Buy” and a consensus target price of C$58.95.

Quebecor Price Performance

The company has a market cap of C$13.40 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 1.43 and a beta of 0.63. The company has a quick ratio of 0.35, a current ratio of 1.01 and a debt-to-equity ratio of 363.97. The firm has a 50 day simple moving average of C$51.63 and a 200-day simple moving average of C$48.10.

Quebecor (TSE:QBR.B) last released its quarterly earnings results on Thursday, February 26th. The company reported C$0.99 earnings per share for the quarter. Quebecor had a net margin of 12.99% and a return on equity of 37.44%. The business had revenue of C$1.55 billion for the quarter.

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. In addition to the quadruple-play services Quebecor offers a French-language subscription video on demand service and has a media segment that owns and operates television stations publishes newspapers and magazines and produces and distributes films and television shows.