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

Quebecor (TSE:QBR.B) had its target price increased by equities researchers at Scotiabank from C$48.00 to C$51.75 in a report released on Monday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price target points to a potential downside of 0.40% from the stock’s current price.

Several other research firms also recently commented on QBR.B. BMO Capital Markets upped their price objective on shares of Quebecor from C$47.00 to C$53.00 in a report on Monday, November 10th. TD Securities raised their price objective on shares of Quebecor from C$49.00 to C$52.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. National Bankshares lowered Quebecor from an “outperform” rating to a “sector perform” rating and set a C$54.00 target price on the stock. in a research note on Wednesday, November 19th. Royal Bank Of Canada downgraded Quebecor from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from C$45.00 to C$46.00 in a report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. set a C$56.00 price objective on Quebecor and gave the stock an “overweight” rating in a research note on Monday, November 10th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$51.89.

Quebecor Stock Up 1.4%

Shares of Quebecor stock traded up C$0.71 on Monday, reaching C$51.96. 223,007 shares of the company were exchanged, compared to its average volume of 569,721. The company has a market capitalization of C$11.87 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.43 and a beta of 0.67. The company has a current ratio of 1.01, a quick ratio of 0.35 and a debt-to-equity ratio of 363.97. Quebecor has a one year low of C$30.02 and a one year high of C$53.32. The company has a 50-day moving average of C$51.00 and a 200 day moving average of C$45.07.

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

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.