Quebecor (TSE:QBR.B) Hits New 1-Year High – What’s Next?

Quebecor, Inc. (TSE:QBR.B) reached a new 52-week high on Tuesday . The company traded as high as C$45.47 and last traded at C$45.43, with a volume of 73378 shares trading hands. The stock had previously closed at C$44.68.

Analysts Set New Price Targets

Several brokerages have recently commented on QBR.B. TD Securities increased their price objective on Quebecor from C$46.00 to C$49.00 and gave the company a “buy” rating in a research report on Monday, October 20th. CIBC boosted their price objective on shares of Quebecor from C$46.00 to C$49.00 in a report on Friday, October 17th. BMO Capital Markets upgraded Quebecor from a “market perform” rating to an “outperform” rating and lifted their price target for the company from C$40.00 to C$47.00 in a research report on Thursday, September 4th. Canaccord Genuity Group boosted their target price on shares of Quebecor from C$40.75 to C$43.25 in a report on Thursday, July 10th. Finally, Desjardins boosted their price objective on shares of Quebecor from C$43.00 to C$47.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Quebecor presently has an average rating of “Moderate Buy” and an average target price of C$46.22.

Quebecor Stock Up 1.4%

The company’s 50-day simple moving average is C$43.42 and its two-hundred day simple moving average is C$40.69. The firm has a market capitalization of C$10.39 billion, a P/E ratio of 13.56, a P/E/G ratio of 1.43 and a beta of 0.54. The company has a debt-to-equity ratio of 363.97, a current ratio of 1.01 and a quick ratio of 0.35.

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.