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

Quebecor (TSE:QBR.B) had its target price increased by Desjardins from C$53.00 to C$54.00 in a report issued on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price objective suggests a potential upside of 3.93% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. BMO Capital Markets raised their target price on shares of Quebecor from C$47.00 to C$53.00 in a research note on Monday, November 10th. JPMorgan Chase & Co. set a C$56.00 price objective on shares of Quebecor and gave the company an “overweight” rating in a report on Monday, November 10th. CIBC lifted their target price on Quebecor from C$54.00 to C$57.00 in a report on Tuesday, December 9th. Scotiabank boosted their target price on Quebecor from C$48.00 to C$51.75 and gave the stock a “sector perform” rating in a research report on Monday. Finally, TD Securities increased their price target on Quebecor from C$49.00 to C$52.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Four 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, Quebecor currently has an average rating of “Moderate Buy” and an average target price of C$51.89.

Quebecor Price Performance

Shares of TSE QBR.B traded up C$0.71 during mid-day trading on Monday, reaching C$51.96. The company’s stock had a trading volume of 223,007 shares, compared to its average volume of 569,721. The company has a debt-to-equity ratio of 363.97, a current ratio of 1.01 and a quick ratio of 0.35. Quebecor has a 52 week low of C$30.02 and a 52 week high of C$53.32. The stock has a fifty day moving average of C$51.00 and a two-hundred day moving average of C$45.07. The firm has a market capitalization of C$11.87 billion, a PE ratio of 14.64, a P/E/G ratio of 1.43 and a beta of 0.67.

Quebecor (TSE:QBR.B) last issued its earnings results on Thursday, November 6th. The company reported C$1.05 earnings per share (EPS) for the quarter. Quebecor had a return on equity of 37.44% and a net margin of 12.99%.The company had revenue of C$1.41 billion for the quarter.

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.