Quebecor Inc. (OTCMKTS:QBCRF) Sees Significant Increase in Short Interest

Quebecor Inc. (OTCMKTS:QBCRF) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 2,663,321 shares, an increase of 246.7% from the April 30th total of 768,250 shares. Approximately 1.2% of the shares of the company are short sold. Based on an average daily trading volume, of 417 shares, the days-to-cover ratio is currently 6,386.9 days.

Quebecor Stock Performance

Shares of OTCMKTS:QBCRF remained flat at $48.90 during midday trading on Friday. 3,951 shares of the stock traded hands, compared to its average volume of 7,624. The business’s 50-day moving average is $42.95 and its 200 day moving average is $39.71. Quebecor has a 12-month low of $26.93 and a 12-month high of $48.90.

Quebecor (OTCMKTS:QBCRF) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.02. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $982.02 million.

Analyst Ratings Changes

Several equities analysts have issued reports on QBCRF shares. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Quebecor in a report on Friday, May 15th. Scotiabank reaffirmed a “sector perform” rating on shares of Quebecor in a report on Friday, May 15th. Finally, TD Securities reaffirmed a “buy” rating on shares of Quebecor in a report on Friday, May 15th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

About Quebecor

Quebecor Inc is a Canadian integrated media and telecommunications company offering a diversified portfolio of services and content. Through its wholly owned subsidiary Vidéotron, the company provides cable television, high-speed internet, wireless telephony and residential and business telecom solutions. Its media arm, Quebecor Media, publishes newspapers and magazines, operates specialty and conventional television networks and engages in digital media and advertising across multiple platforms.

Founded by Pierre Péladeau in 1965 as a printing enterprise in Montreal, Quebecor has expanded its operations over five decades into one of Canada’s leading content creators and service providers.