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

Quebecor (TSE:QBR.B) was downgraded by equities researchers at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday,BayStreet.CA reports. They presently have a C$51.25 target price on the stock, up from their previous target price of C$50.00. Canaccord Genuity Group’s price objective points to a potential upside of 2.50% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. set a C$56.00 price objective on shares of Quebecor and gave the stock an “overweight” rating in a report on Monday, November 10th. Royal Bank Of Canada lowered shares of Quebecor from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from C$45.00 to C$46.00 in a research report on Wednesday, October 15th. National Bankshares downgraded shares of Quebecor from an “outperform” rating to a “sector perform” rating and set a C$54.00 price target for the company. in a report on Wednesday, November 19th. CIBC raised their price objective on shares of Quebecor from C$54.00 to C$57.00 in a report on Tuesday, December 9th. Finally, BMO Capital Markets increased their target price on shares of Quebecor from C$47.00 to C$53.00 in a research report on Monday, November 10th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$52.78.

Quebecor Stock Down 3.6%

Shares of QBR.B traded down C$1.88 during midday trading on Tuesday, hitting C$50.00. The company had a trading volume of 255,718 shares, compared to its average volume of 564,878. Quebecor has a 1 year low of C$30.02 and a 1 year high of C$53.32. The company has a debt-to-equity ratio of 363.97, a quick ratio of 0.35 and a current ratio of 1.01. The firm has a market capitalization of C$11.42 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.43 and a beta of 0.67. The company’s 50-day simple moving average is C$51.14 and its 200-day simple moving average is C$45.14.

Quebecor (TSE:QBR.B) last released its earnings results on Thursday, November 6th. The company reported C$1.05 earnings per share (EPS) for the quarter. The company had revenue of C$1.41 billion for the quarter. Quebecor had a return on equity of 37.44% and a net margin of 12.99%.

About Quebecor

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.