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

Quebecor (TSE:QBR.B) had its target price lifted by research analysts at Desjardins from C$72.00 to C$76.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price target would suggest a potential upside of 11.42% from the company’s previous close.

A number of other brokerages have also weighed in on QBR.B. TD upped their target price on Quebecor from C$78.00 to C$80.00 and gave the stock a “buy” rating in a research report on Friday. National Bank Financial boosted their price target on shares of Quebecor from C$67.00 to C$74.00 and gave the company an “outperform” rating in a research note on Tuesday, June 23rd. Royal Bank Of Canada upped their price objective on shares of Quebecor from C$70.00 to C$71.00 and gave the stock a “sector perform” rating in a report on Friday. Canadian Imperial Bank of Commerce raised their price objective on shares of Quebecor from C$67.00 to C$78.00 in a research note on Friday, July 10th. Finally, Canaccord Genuity Group cut shares of Quebecor from a “buy” rating to a “hold” rating and set a C$68.00 price objective for the company. in a report on Friday, July 10th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$69.71.

Quebecor Stock Up 1.5%

Quebecor stock traded up C$0.99 during midday trading on Friday, reaching C$68.21. The stock had a trading volume of 443,353 shares, compared to its average volume of 943,816. Quebecor has a 12 month low of C$36.94 and a 12 month high of C$70.75. The company has a market capitalization of C$15.37 billion, a P/E ratio of 17.76, a PEG ratio of 1.43 and a beta of 0.69. The company has a fifty day moving average price of C$67.21 and a two-hundred day moving average price of C$60.31. The company has a current ratio of 1.01, a quick ratio of 0.35 and a debt-to-equity ratio of 363.97.

Quebecor (TSE:QBR.B) last posted its quarterly earnings results on Thursday, May 14th. The company reported C$0.97 earnings per share for the quarter. The business had revenue of C$1.40 billion for 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.