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

Quebecor Inc. (OTCMKTS:QBCRF) was the target of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totaling 1,258,557 shares, a decrease of 56.9% from the May 31st total of 2,918,389 shares. Based on an average daily volume of 271 shares, the short-interest ratio is presently 4,644.1 days. Currently, 0.6% of the company’s shares are sold short.

Quebecor Price Performance

Shares of Quebecor stock opened at $47.51 on Wednesday. Quebecor has a 52 week low of $26.93 and a 52 week high of $48.90. The company has a quick ratio of 0.76, a current ratio of 0.94 and a debt-to-equity ratio of 2.39. The company has a 50 day moving average price of $46.03 and a 200 day moving average price of $41.61.

Quebecor (OTCMKTS:QBCRF) last released its earnings results on Thursday, May 14th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.02. Quebecor had a return on equity of 33.84% and a net margin of 15.55%.The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $982.02 million.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on QBCRF shares. TD Securities restated a “buy” rating on shares of Quebecor in a report on Monday. Scotiabank reissued a “sector perform” rating on shares of Quebecor in a research note on Friday, May 15th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Quebecor in a report on Friday, May 15th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Quebecor 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.