Scotia Forecasts Strong Price Appreciation for Quebecor (TSE:QBR.B) Stock

Quebecor (TSE:QBR.B) had its price objective boosted by Scotia from C$54.50 to C$58.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotia’s target price would suggest a potential downside of 10.27% from the company’s previous close.

Other research analysts have also issued reports about the stock. Canadian Imperial Bank of Commerce lifted their price target on shares of Quebecor from C$61.00 to C$66.00 in a report on Tuesday, April 7th. BMO Capital Markets lifted their price target on shares of Quebecor from C$58.00 to C$60.00 and gave the company an “outperform” rating in a report on Friday, February 27th. TD Securities lowered shares of Quebecor from a “buy” rating to a “hold” rating and lifted their price target for the company from C$58.00 to C$60.00 in a report on Friday, February 27th. Canaccord Genuity Group raised shares of Quebecor from a “hold” rating to a “buy” rating and lifted their price target for the company from C$51.25 to C$60.00 in a report on Monday, March 2nd. Finally, ATB Cormark Capital Markets lifted their price objective on shares of Quebecor from C$63.00 to C$69.00 and gave the company an “outperform” rating in a research report on Friday. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Quebecor currently has an average rating of “Moderate Buy” and an average price target of C$63.71.

Quebecor Stock Up 4.1%

QBR.B stock traded up C$2.57 during mid-day trading on Friday, hitting C$64.64. 495,269 shares of the company were exchanged, compared to its average volume of 954,894. The company has a market capitalization of C$14.60 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 1.43 and a beta of 0.75. 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 has a twelve month low of C$36.68 and a twelve month high of C$64.93. The firm has a fifty day simple moving average of C$57.66 and a 200 day simple moving average of C$53.28.

Quebecor (TSE:QBR.B) last announced its quarterly earnings data on Thursday, May 14th. The company reported C$0.97 earnings per share for the quarter. The company had revenue of C$1.40 billion during the quarter. Quebecor had a net margin of 12.99% and a return on equity of 37.44%.

Quebecor Company Profile

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.