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

Quebecor (TSE:QBR.B) had its price target boosted by Scotia from C$54.50 to C$58.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotia’s price target suggests a potential downside of 10.27% from the stock’s previous close.

QBR.B has been the topic of a number of other reports. TD boosted their target price on shares of Quebecor from C$63.00 to C$69.00 and gave the stock a “buy” rating in a report on Friday. Scotiabank lifted their target price on shares of Quebecor from C$51.25 to C$54.50 and gave the stock a “sector perform” rating in a research report on Friday, February 27th. Royal Bank Of Canada lifted their target price on shares of Quebecor from C$57.00 to C$60.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 9th. Desjardins set a C$61.00 target price on shares of Quebecor and gave the stock a “buy” rating in a research report on Tuesday, April 7th. Finally, National Bank Financial lifted their target price on shares of Quebecor from C$59.00 to C$67.00 and gave the stock an “outperform” rating in a research report on Friday. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$63.71.

Quebecor Price Performance

Shares of QBR.B stock traded up C$2.57 during midday trading on Friday, reaching C$64.64. 495,269 shares of the company were exchanged, compared to its average volume of 954,894. Quebecor has a 12 month low of C$36.68 and a 12 month high of C$64.93. The company has a market cap of C$14.60 billion, a P/E ratio of 18.21, a PEG ratio of 1.43 and a beta of 0.75. The company’s 50 day moving average price is C$57.66 and its two-hundred day moving average price is C$53.28. The company has a debt-to-equity ratio of 363.97, a quick ratio of 0.35 and a current ratio of 1.01.

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