Quebecor (OTCMKTS:QBCRF) Hits New 1-Year High on Earnings Beat

Shares of Quebecor Inc. (OTCMKTS:QBCRF) reached a new 52-week high during trading on Friday following a better than expected earnings announcement. The stock traded as high as $47.05 and last traded at $47.05, with a volume of 126 shares changing hands. The stock had previously closed at $42.06.

The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.02. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $982.02 million.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on QBCRF. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Quebecor in a report on Friday. TD Securities reaffirmed a “buy” rating on shares of Quebecor in a report on Friday. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Quebecor in a report on Friday. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

Quebecor Stock Up 5.7%

The company’s 50 day simple moving average is $42.09 and its 200 day simple moving average is $38.68.

About Quebecor

Quebecor Inc is a Canadian integrated media and telecommunications company offering a diversified portfolio of services and content. Through its wholly owned subsidiary Vidéotron, the company provides cable television, high-speed internet, wireless telephony and residential and business telecom solutions. Its media arm, Quebecor Media, publishes newspapers and magazines, operates specialty and conventional television networks and engages in digital media and advertising across multiple platforms.

Founded by Pierre Péladeau in 1965 as a printing enterprise in Montreal, Quebecor has expanded its operations over five decades into one of Canada’s leading content creators and service providers.