Quebecor (TSE:QBR.B) Sets New 52-Week High – Here’s What Happened

Shares of Quebecor, Inc. (TSE:QBR.B) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$61.04 and last traded at C$61.04, with a volume of 604034 shares trading hands. The stock had previously closed at C$57.58.

Analysts Set New Price Targets

Several brokerages have issued reports on QBR.B. Scotiabank increased their target price on Quebecor from C$51.25 to C$54.50 and gave the company a “sector perform” rating in a research report on Friday, February 27th. Royal Bank Of Canada upped their price objective on Quebecor from C$57.00 to C$60.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 9th. National Bank Financial raised Quebecor from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from C$57.00 to C$59.00 in a research report on Monday, April 13th. TD Securities lowered Quebecor from a “buy” rating to a “hold” rating and lifted their target price for the company from C$58.00 to C$60.00 in a research note on Friday, February 27th. Finally, ATB Cormark Capital Markets increased their price target on shares of Quebecor from C$57.00 to C$63.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$60.23.

Quebecor Stock Performance

The firm has a fifty day moving average price of C$57.59 and a 200 day moving average price of C$53.15. The company has a debt-to-equity ratio of 363.97, a quick ratio of 0.35 and a current ratio of 1.01. The stock has a market cap of C$13.98 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 1.43 and a beta of 0.75.

Quebecor (TSE:QBR.B) last announced its earnings results on Thursday, May 14th. The company reported C$0.97 earnings per share for the quarter. Quebecor had a return on equity of 37.44% and a net margin of 12.99%.The firm 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.