Quebecor (TSE:QBR.B) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Quebecor, Inc. (TSE:QBR.B)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$56.14 and traded as high as C$68.77. Quebecor shares last traded at C$68.31, with a volume of 890,060 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on QBR.B. National Bank Financial upped their price objective on Quebecor from C$59.00 to C$67.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Canadian Imperial Bank of Commerce upped their price objective on Quebecor from C$61.00 to C$66.00 in a research report on Tuesday, April 7th. Royal Bank Of Canada upped their price objective on Quebecor from C$60.00 to C$64.00 and gave the company a “sector perform” rating in a research report on Friday, May 15th. Scotia upped their price objective on Quebecor from C$54.50 to C$58.00 and gave the company a “sector perform” rating in a research report on Friday, May 15th. Finally, ATB Cormark Capital Markets upped their price objective on Quebecor from C$63.00 to C$69.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Quebecor currently has an average rating of “Moderate Buy” and an average target price of C$63.71.

Quebecor Price Performance

The company has a market capitalization of C$15.39 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 1.43 and a beta of 0.64. 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 company has a 50 day simple moving average of C$61.27 and a 200 day simple moving average of C$56.14.

Quebecor (TSE:QBR.B) last announced its quarterly earnings results on Thursday, May 14th. The company reported C$0.97 EPS for the quarter. The company had revenue of C$1.40 billion during the quarter. Quebecor had a return on equity of 37.44% and a net margin of 12.99%.

About Quebecor

Quebecor, a Canadian leader in telecommunications, entertainment, news media and culture, is one of the best-performing integrated communications companies in the industry. Driven by their determination to deliver the best possible customer experience, all of Quebecor’s subsidiaries and brands are differentiated by their high-quality, multiplatform, convergent products and services. Québec-based Quebecor (TSX: QBR.A) (TSX: QBR.B) employs more than 11,000 people in Canada. A family business founded in 1950, Quebecor is strongly committed to the community.