Quebecor Inc. (OTCMKTS:QBCRF) Sees Significant Increase in Short Interest

Quebecor Inc. (OTCMKTS:QBCRF) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totaling 2,663,321 shares, an increase of 246.7% from the April 30th total of 768,250 shares. Currently, 1.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 417 shares, the short-interest ratio is currently 6,386.9 days.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. TD Securities reiterated a “buy” rating on shares of Quebecor in a report on Friday, May 15th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Quebecor in a report on Friday, May 15th. Finally, Scotiabank reissued a “sector perform” rating on shares of Quebecor in a research note on Friday, May 15th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Quebecor Price Performance

Shares of QBCRF remained flat at $48.90 during trading on Friday. 3,951 shares of the company’s stock were exchanged, compared to its average volume of 7,624. The business’s fifty day moving average is $42.95 and its 200-day moving average is $39.71. Quebecor has a 1-year low of $26.93 and a 1-year high of $48.90.

Quebecor (OTCMKTS:QBCRF) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $982.02 million.

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.