Quebecor (TSE:QBR.B) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Quebecor, Inc. (TSE:QBR.B) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$54.99 and traded as high as C$68.20. Quebecor shares last traded at C$68.19, with a volume of 1,120,277 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms recently commented on QBR.B. Desjardins increased their target price on Quebecor from C$61.00 to C$66.00 and gave the company a “buy” rating in a research note on Friday, May 15th. TD Securities cut Quebecor from a “buy” rating to a “hold” rating and increased their target price for the company from C$58.00 to C$60.00 in a research note on Friday, February 27th. Canaccord Genuity Group increased their target price on Quebecor from C$60.00 to C$68.00 and gave the company a “buy” rating in a research note on Friday, May 15th. TD increased their target price on Quebecor from C$63.00 to C$69.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, ATB Cormark Capital Markets increased their target price on Quebecor from C$63.00 to C$69.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$63.71.

Quebecor Stock Up 1.7%

The stock has a 50 day moving average price of C$59.42 and a 200-day moving average price of C$54.99. The stock has a market capitalization of C$15.37 billion, a P/E ratio of 19.21, a PEG ratio of 1.43 and a beta of 0.75. The company has a debt-to-equity ratio of 363.97, a current ratio of 1.01 and a quick ratio of 0.35.

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