Quebecor (TSE:QBR.B) Share Price Breaks Below 200-Day Moving Average – Time to Sell?

Shares of Quebecor, Inc. (TSE:QBR.B) passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$63.13 and traded as low as C$60.16. Quebecor shares last traded at C$60.95, with a volume of 722,393 shares.

Wall Street Analyst Weigh In

QBR.B has been the subject of a number of research analyst reports. Royal Bank Of Canada increased their price objective on shares of Quebecor from C$70.00 to C$71.00 and gave the stock a “sector perform” rating in a research report on Friday, August 7th. National Bank Financial upped their price target on Quebecor from C$67.00 to C$74.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Scotiabank raised their price target on Quebecor from C$58.00 to C$63.50 and gave the stock a “sector perform” rating in a research report on Tuesday, July 7th. ATB Cormark Capital Markets lifted their price objective on Quebecor from C$69.00 to C$77.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Finally, Desjardins boosted their price objective on Quebecor from C$72.00 to C$76.00 and gave the company a “buy” rating in a report on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$70.12.

Quebecor Stock Performance

The firm has a market capitalization of C$13.97 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 1.43 and a beta of 0.61. The company has a debt-to-equity ratio of 363.97, a current ratio of 1.01 and a quick ratio of 0.35. The firm has a 50 day moving average price of C$63.80 and a 200-day moving average price of C$63.16.

About Quebecor

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.