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

Quebecor (TSE:QBR.B) had its target price increased by research analysts at Desjardins from C$54.00 to C$61.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price target would indicate a potential upside of 7.83% from the company’s previous close.

Several other brokerages have also recently commented on QBR.B. National Bank Financial boosted their price target on Quebecor from C$54.00 to C$57.00 and gave the company a “sector perform” rating in a research note on Friday. BMO Capital Markets increased their price target 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 target on shares of Quebecor and gave the company an “overweight” rating in a report on Monday, November 10th. Scotiabank upped their price objective on shares of Quebecor from C$51.25 to C$54.50 and gave the stock a “sector perform” rating in a report on Friday. Finally, TD Securities raised their target price on Quebecor from C$49.00 to C$52.00 and gave the company a “buy” rating in a report on Friday, November 7th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Quebecor has a consensus rating of “Moderate Buy” and an average price target of C$58.08.

Quebecor Stock Up 5.1%

Shares of Quebecor stock traded up C$2.77 on Friday, hitting C$56.57. 1,554,196 shares of the company traded hands, compared to its average volume of 755,688. Quebecor has a 12-month low of C$32.57 and a 12-month high of C$57.77. The company has a quick ratio of 0.35, a current ratio of 1.01 and a debt-to-equity ratio of 363.97. The company has a market cap of C$12.92 billion, a PE ratio of 15.94, a PEG ratio of 1.43 and a beta of 0.63. The company has a 50-day moving average price of C$51.26 and a 200 day moving average price of C$47.61.

Quebecor (TSE:QBR.B) last released its quarterly earnings data on Thursday, February 26th. The company reported C$0.99 earnings per share (EPS) 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$1.55 billion during 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.