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

Quebecor, Inc. (TSE:QBR.B) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$52.40 and last traded at C$52.31, with a volume of 3729484 shares traded. The stock had previously closed at C$51.20.

Analyst Ratings Changes

QBR.B has been the topic of a number of recent analyst reports. TD Securities upped their target price on Quebecor from C$49.00 to C$52.00 and gave the company a “buy” rating in a research report on Friday, November 7th. BMO Capital Markets increased their price objective on shares of Quebecor from C$47.00 to C$53.00 in a research note on Monday, November 10th. JPMorgan Chase & Co. set a C$56.00 target price on shares of Quebecor and gave the company an “overweight” rating in a research note on Monday, November 10th. Royal Bank Of Canada cut shares of Quebecor from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from C$45.00 to C$46.00 in a research report on Wednesday, October 15th. Finally, National Bankshares downgraded Quebecor from an “outperform” rating to a “sector perform” rating and set a C$54.00 price target for the company. in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$49.86.

Quebecor Stock Performance

The firm has a market capitalization of C$11.97 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 1.43 and a beta of 0.57. The company has a 50-day moving average price of C$44.93 and a 200-day moving average price of C$41.66. The company has a quick ratio of 0.35, a current ratio of 1.01 and a debt-to-equity ratio of 363.97.

Quebecor (TSE:QBR.B) last announced its earnings results on Thursday, November 6th. The company reported C$1.02 earnings per share (EPS) for the quarter. The firm had revenue of C$1.41 billion during 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.