Quebecor (TSE:QBR.B) Shares Cross Above 200 Day Moving Average – Here’s Why

Quebecor, Inc. (TSE:QBR.B)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$61.83 and traded as high as C$63.28. Quebecor shares last traded at C$61.80, with a volume of 718,475 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have weighed in on QBR.B. ATB Cormark Capital Markets boosted their price target on Quebecor from C$69.00 to C$77.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Scotiabank lifted their target price on Quebecor from C$58.00 to C$63.50 and gave the stock a “sector perform” rating in a research note on Tuesday, July 7th. Desjardins boosted their target price on Quebecor from C$72.00 to C$76.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Canadian Imperial Bank of Commerce increased their price target on Quebecor from C$67.00 to C$78.00 in a research note on Friday, July 10th. Finally, National Bank Financial raised their price target on Quebecor from C$67.00 to C$74.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$69.71.

Quebecor Stock Performance

The company has a debt-to-equity ratio of 363.97, a quick ratio of 0.35 and a current ratio of 1.01. The firm has a market cap of C$13.72 billion, a P/E ratio of 15.04, a P/E/G ratio of 1.43 and a beta of 0.69. The company’s 50 day moving average is C$65.91 and its 200 day moving average is C$61.83.

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.