Canadian Imperial Bank of Commerce Issues Positive Forecast for Quebecor (TSE:QBR.B) Stock Price

Quebecor (TSE:QBR.B) had its price objective lifted by equities research analysts at Canadian Imperial Bank of Commerce from C$67.00 to C$78.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price would indicate a potential upside of 16.84% from the stock’s previous close.

A number of other brokerages also recently weighed in on QBR.B. Scotia boosted their target price on Quebecor from C$54.50 to C$58.00 and gave the stock a “sector perform” rating in a research note on Friday, May 15th. National Bank Financial boosted their price objective on Quebecor from C$67.00 to C$74.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. BMO Capital Markets raised their target price on Quebecor from C$63.00 to C$67.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Canaccord Genuity Group lifted their target price 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, Desjardins boosted their price target on shares of Quebecor from C$61.00 to C$66.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$67.29.

Quebecor Stock Down 3.0%

TSE QBR.B traded down C$2.07 on Friday, reaching C$66.76. The company had a trading volume of 309,226 shares, compared to its average volume of 950,527. The company has a quick ratio of 0.35, a current ratio of 1.01 and a debt-to-equity ratio of 363.97. The company’s fifty day moving average is C$65.42 and its 200 day moving average is C$58.22. Quebecor has a 52-week low of C$36.68 and a 52-week high of C$70.75. The stock has a market capitalization of C$15.04 billion, a P/E ratio of 17.39, a P/E/G ratio of 1.43 and a beta of 0.68.

Quebecor (TSE:QBR.B) last announced its earnings results on Thursday, May 14th. The company reported C$0.97 EPS for the quarter. Quebecor had a net margin of 12.99% and a return on equity of 37.44%. The company had revenue of C$1.40 billion during the quarter.

Quebecor Company Profile

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.