Quebecor (TSE:QBR.B) Stock Crosses Above 200-Day Moving Average – What’s Next?

Shares of Quebecor, Inc. (TSE:QBR.B) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$60.08 and traded as high as C$66.08. Quebecor shares last traded at C$63.73, with a volume of 2,217,598 shares traded.

Wall Street Analysts Forecast Growth

QBR.B has been the topic of several recent analyst reports. TD boosted their target price on shares of Quebecor from C$69.00 to C$78.00 and gave the company a “buy” rating in a report on Monday, June 29th. Scotia lifted their target price on Quebecor from C$54.50 to C$58.00 and gave the company a “sector perform” rating in a report on Friday, May 15th. Royal Bank Of Canada upped their price target on Quebecor from C$64.00 to C$70.00 and gave the stock a “sector perform” rating in a report on Friday, July 10th. BMO Capital Markets lifted their price objective on Quebecor from C$63.00 to C$67.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Finally, Canaccord Genuity Group lowered Quebecor from a “buy” rating to a “hold” rating and set a C$68.00 target price on the stock. in a report on Friday, July 10th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$67.79.

Quebecor Stock Up 5.9%

The firm’s 50 day simple moving average is C$67.21 and its 200 day simple moving average is C$60.31. The company has a market cap of C$15.15 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 1.43 and a beta of 0.69. The company has a quick ratio of 0.35, a current ratio of 1.01 and a debt-to-equity ratio of 363.97.

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

About Quebecor

Quebecor, a Canadian leader in telecommunications, entertainment, news media and culture, is one of the best-performing integrated communications companies in the industry. Driven by their determination to deliver the best possible customer experience, all of Quebecor’s subsidiaries and brands are differentiated by their high-quality, multiplatform, convergent products and services. Québec-based Quebecor (TSX: QBR.A) (TSX: QBR.B) employs more than 11,000 people in Canada. A family business founded in 1950, Quebecor is strongly committed to the community.