Quebecor (TSE:QBR.B) Reaches New 52-Week High – Here’s What Happened

Quebecor, Inc. (TSE:QBR.B)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as C$67.14 and last traded at C$67.14, with a volume of 26990 shares trading hands. The stock had previously closed at C$66.35.

Wall Street Analyst Weigh In

QBR.B has been the subject of a number of analyst reports. BMO Capital Markets upped their price objective on Quebecor from C$63.00 to C$67.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. TD upped their price objective on Quebecor from C$63.00 to C$69.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. ATB Cormark Capital Markets upped their price objective on Quebecor from C$63.00 to C$69.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Canaccord Genuity Group upped their price objective on Quebecor from C$60.00 to C$68.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, Scotiabank upped their price objective on Quebecor from C$51.25 to C$54.50 and gave the stock a “sector perform” rating in a research note on Friday, February 27th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$63.71.

Quebecor Stock Up 0.7%

The company has a 50-day moving average of C$58.57 and a 200-day moving average of C$54.30. The company has a market capitalization of C$15.06 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 1.43 and a beta of 0.75. 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 (TSE:QBR.B) last announced its earnings results on Thursday, May 14th. The company reported C$0.97 earnings per share (EPS) for the quarter. Quebecor had a return on equity of 37.44% and a net margin of 12.99%.The company had revenue of C$1.40 billion for the quarter.

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.