Quebecor (TSE:QBR.A) Stock Crosses Above 50 Day Moving Average - Here's What Happened

Key Points

• Quebecor shares have crossed above their 50-day moving average of C$41.45, reaching a high of C$45.20 during Tuesday's trading.
• Scotiabank has raised Quebecor's target price from C$40.50 to C$43.25, maintaining a "sector perform" rating for the stock.
• With a market capitalization of C$10.37 billion, Quebecor is the leading telecom provider in Quebec, serving over 1.8 million internet subscribers and 1.6 million mobile subscribers.

Quebecor, Inc. (TSE:QBR.A - Get Free Report) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$41.45 and traded as high as C$45.20. Quebecor shares last traded at C$45.20, with a volume of 56,743 shares traded.

Wall Street Analysts Forecast Growth

Separately, Scotiabank raised their target price on shares of Quebecor from C$40.50 to C$43.25 and gave the stock a "sector perform" rating in a report on Monday, September 8th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of C$43.25.

Quebecor Price Performance

The company's fifty day moving average price is C$41.45 and its 200 day moving average price is C$39.80. The company has a market capitalization of C$10.37 billion, a P/E ratio of 13.53, a PEG ratio of 1.44 and a beta of 0.60. The company has a quick ratio of 0.35, a current ratio of 1.01 and a debt-to-equity ratio of 363.97.

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.

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