Quebecor (TSE:QBR.B) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Quebecor, Inc. (TSE:QBR.B) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$37.79 and traded as high as C$42.58. Quebecor shares last traded at C$42.47, with a volume of 1,311,327 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group boosted their price objective on shares of Quebecor from C$40.75 to C$43.25 in a report on Thursday, July 10th. National Bankshares upgraded shares of Quebecor from a “sector perform” rating to an “outperform” rating and set a C$42.00 price objective for the company in a report on Tuesday, August 12th. TD Securities boosted their price objective on shares of Quebecor from C$44.00 to C$46.00 and gave the stock a “buy” rating in a report on Tuesday, June 24th. Finally, Desjardins decreased their price objective on shares of Quebecor from C$44.00 to C$43.00 and set a “buy” rating for the company in a report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$40.97.

Quebecor Stock Performance

The firm has a market capitalization of C$6.70 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 1.43 and a beta of 0.39. The company has a current ratio of 1.01, a quick ratio of 0.35 and a debt-to-equity ratio of 363.97. The business’s 50 day simple moving average is C$40.27 and its two-hundred day simple moving average is C$37.79.

Quebecor Company Profile

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.