Quebecor (TSE:QBR.B) Downgraded to Hold Rating by Canaccord Genuity Group

Quebecor (TSE:QBR.B) was downgraded by research analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a note issued to investors on Friday,BayStreet.CA reports. They presently have a C$68.00 price objective on the stock. Canaccord Genuity Group’s price target points to a potential upside of 1.86% from the company’s previous close.

Several other equities research analysts also recently commented on the company. Scotia boosted their target price on Quebecor from C$54.50 to C$58.00 and gave the stock a “sector perform” rating in a report on Friday, May 15th. Desjardins lifted their price target on Quebecor from C$61.00 to C$66.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. TD upped their price target on shares of Quebecor from C$69.00 to C$78.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. BMO Capital Markets upped their price target on shares of Quebecor from C$63.00 to C$67.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Finally, Royal Bank Of Canada increased their price objective on shares of Quebecor from C$64.00 to C$70.00 and gave the company a “sector perform” rating in a research report on Friday. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Quebecor presently has a consensus rating of “Moderate Buy” and an average price target of C$67.29.

Quebecor Stock Down 3.0%

Shares of QBR.B stock traded down C$2.07 during trading hours on Friday, hitting C$66.76. 309,226 shares of the company’s stock traded hands, compared to its average volume of 950,527. 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 stock’s fifty day simple moving average is C$65.42 and its two-hundred day simple moving average is C$58.22. Quebecor has a 12-month low of C$36.68 and a 12-month high of C$70.75. The stock has a market cap of C$15.04 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 1.43 and a beta of 0.68.

Quebecor (TSE:QBR.B) last posted its quarterly earnings results on Thursday, May 14th. The company reported C$0.97 earnings per share 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$1.40 billion for the quarter.

Quebecor Company Profile

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.