Short Interest in Quebecor Inc. (OTCMKTS:QBCRF) Expands By 175.5%

Quebecor Inc. (OTCMKTS:QBCRF) saw a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 1,813,040 shares, a growth of 175.5% from the July 15th total of 657,978 shares. Based on an average daily volume of 39,510 shares, the days-to-cover ratio is currently 45.9 days. Currently, 0.8% of the shares of the company are short sold.

Quebecor Price Performance

Shares of QBCRF stock opened at $46.61 on Friday. Quebecor has a 12 month low of $28.67 and a 12 month high of $49.05. The stock has a market cap of $10.50 billion and a P/E ratio of 31.92. The company has a current ratio of 0.94, a quick ratio of 0.76 and a debt-to-equity ratio of 2.39. The company has a 50 day simple moving average of $47.74 and a two-hundred day simple moving average of $44.00.

Quebecor (OTCMKTS:QBCRF) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.01). The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $997.78 million. Quebecor had a return on equity of 34.04% and a net margin of 16.30%.

Analysts Set New Price Targets

QBCRF has been the subject of a number of research analyst reports. Raymond James Financial began coverage on shares of Quebecor in a research report on Wednesday, July 15th. They issued a “market perform” rating for the company. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Quebecor in a report on Friday, August 7th. TD Securities reiterated a “buy” rating on shares of Quebecor in a research report on Friday, August 7th. Scotiabank reissued a “sector perform” rating on shares of Quebecor in a report on Friday, August 7th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Quebecor in a report on Friday, July 10th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Quebecor Company Profile

Quebecor Inc is a Canadian integrated media and telecommunications company offering a diversified portfolio of services and content. Through its wholly owned subsidiary Vidéotron, the company provides cable television, high-speed internet, wireless telephony and residential and business telecom solutions. Its media arm, Quebecor Media, publishes newspapers and magazines, operates specialty and conventional television networks and engages in digital media and advertising across multiple platforms.

Founded by Pierre Péladeau in 1965 as a printing enterprise in Montreal, Quebecor has expanded its operations over five decades into one of Canada’s leading content creators and service providers.