Quebecor (TSE:QBR.B) Given New C$54.50 Price Target at Scotiabank

Quebecor (TSE:QBR.B) had its price target lifted by equities researchers at Scotiabank from C$51.25 to C$54.50 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price would suggest a potential downside of 3.66% from the stock’s previous close.

Several other equities research analysts also recently weighed in on QBR.B. BMO Capital Markets increased their price target on Quebecor from C$47.00 to C$53.00 in a research report on Monday, November 10th. Canadian Imperial Bank of Commerce lifted their price objective on shares of Quebecor from C$54.00 to C$57.00 in a report on Tuesday, December 9th. TD Securities upped their price objective on shares of Quebecor from C$49.00 to C$52.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Desjardins raised their target price on Quebecor from C$53.00 to C$54.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Finally, National Bank Financial lifted their price target on Quebecor from C$54.00 to C$57.00 and gave the company a “sector perform” rating in a research note on Friday. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Quebecor has a consensus rating of “Moderate Buy” and a consensus price target of C$58.08.

Quebecor Stock Up 5.1%

Shares of QBR.B traded up C$2.77 during mid-day trading on Friday, hitting C$56.57. 1,554,196 shares of the company traded hands, compared to its average volume of 755,688. The business has a 50 day moving average of C$51.26 and a 200 day moving average of C$47.61. The company has a market capitalization of C$12.92 billion, a PE ratio of 15.94, 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. Quebecor has a 1-year low of C$32.57 and a 1-year high of C$57.77.

Quebecor (TSE:QBR.B) last issued its quarterly earnings results on Thursday, February 26th. The company reported C$0.99 earnings per share (EPS) for the quarter. The business had revenue of C$1.55 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. 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.