Desjardins Issues Positive Forecast for Quebecor (TSE:QBR.B) Stock Price

Quebecor (TSE:QBR.B) had its target price increased by analysts at Desjardins from C$61.00 to C$66.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ target price indicates a potential upside of 2.10% from the stock’s current price.

Several other equities research analysts have also weighed in on QBR.B. Scotia upped their target price on shares of Quebecor from C$54.50 to C$58.00 and gave the stock a “sector perform” rating in a report on Friday. Canadian Imperial Bank of Commerce upped their target price on shares of Quebecor from C$61.00 to C$66.00 in a report on Tuesday, April 7th. National Bank Financial upped their target price on shares of Quebecor from C$59.00 to C$67.00 and gave the stock an “outperform” rating in a report on Friday. ATB Cormark Capital Markets upped their target price on shares of Quebecor from C$63.00 to C$69.00 and gave the stock an “outperform” rating in a report on Friday. Finally, TD Securities lowered shares of Quebecor from a “buy” rating to a “hold” rating and upped their target price for the stock from C$58.00 to C$60.00 in a report on Friday, February 27th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$63.71.

Quebecor Stock Performance

Quebecor stock traded up C$2.57 on Friday, hitting C$64.64. The company’s stock had a trading volume of 495,269 shares, compared to its average volume of 954,894. The company has a fifty day moving average price of C$57.66 and a 200-day moving average price of C$53.28. 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 one year low of C$36.68 and a one year high of C$64.93. The firm has a market cap of C$14.60 billion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 1.43 and a beta of 0.75.

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. Quebecor had a net margin of 12.99% and a return on equity of 37.44%. The business 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.