Quebecor (TSE:QBR.B) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Quebecor, Inc. (TSE:QBR.B) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$59.18 and traded as high as C$67.68. Quebecor shares last traded at C$67.36, with a volume of 557,775 shares traded.

Wall Street Analysts Forecast Growth

QBR.B has been the topic of several research reports. Canadian Imperial Bank of Commerce upped their price objective on shares of Quebecor from C$67.00 to C$78.00 in a report on Friday, July 10th. Scotiabank lifted their target price on shares of Quebecor from C$58.00 to C$63.50 and gave the stock a “sector perform” rating in a report on Tuesday, July 7th. Scotia upped their price target on shares of Quebecor from C$54.50 to C$58.00 and gave the company a “sector perform” rating in a research note on Friday, May 15th. Royal Bank Of Canada increased their price target on shares of Quebecor from C$64.00 to C$70.00 and gave the company a “sector perform” rating in a report on Friday, July 10th. Finally, Desjardins raised their price objective on shares of Quebecor from C$66.00 to C$72.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$67.79.

Quebecor Trading Up 0.6%

The company has a debt-to-equity ratio of 363.97, a quick ratio of 0.35 and a current ratio of 1.01. The stock has a market capitalization of C$15.18 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 1.43 and a beta of 0.68. The business has a fifty day simple moving average of C$67.27 and a 200 day simple moving average of C$59.18.

Quebecor (TSE:QBR.B) last posted its earnings results on Thursday, May 14th. The company reported C$0.97 earnings per share 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.