Scotiabank Raises Quebecor (TSE:QBR.B) Price Target to C$54.50

Quebecor (TSE:QBR.B) had its price objective lifted by equities researchers at Scotiabank from C$51.25 to C$54.50 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price target would indicate a potential downside of 3.66% from the stock’s current price.

A number of other analysts have also recently commented on the company. BMO Capital Markets boosted their price target on Quebecor from C$47.00 to C$53.00 in a research report on Monday, November 10th. National Bank Financial raised their target price on shares of Quebecor from C$54.00 to C$57.00 and gave the stock a “sector perform” rating in a report on Friday. JPMorgan Chase & Co. set a C$56.00 target price on shares of Quebecor and gave the company an “overweight” rating in a research note on Monday, November 10th. Canadian Imperial Bank of Commerce raised their price target on Quebecor from C$54.00 to C$57.00 in a research note on Tuesday, December 9th. Finally, Desjardins lifted their price objective on Quebecor from C$53.00 to C$54.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Quebecor has a consensus rating of “Moderate Buy” and an average price target of C$58.08.

Quebecor Trading Up 5.1%

Shares of TSE QBR.B traded up C$2.77 during midday trading 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 firm has a market cap of C$12.92 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.43 and a beta of 0.63. The stock has a 50-day moving average price of C$51.26 and a 200 day moving average price of C$47.61. 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 posted its quarterly earnings data on Thursday, February 26th. The company reported C$0.99 earnings per share for the quarter. Quebecor had a return on equity of 37.44% and a net margin of 12.99%.The business had revenue of C$1.55 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.