Quebecor (TSE:QBR.B) Reaches New 1-Year High - Still a Buy?

Key Points

• Quebecor's stock price reached a new 52-week high of C$42.62, closing at C$42.59 with a trading volume of 432,603 shares on Wednesday.
• Analysts have varied target price adjustments for Quebecor, with TD Securities raising their target from C$44.00 to C$46.00, showcasing a strong "buy" sentiment.
• Quebecor is a major telecom provider in Quebec, boasting over 1.8 million internet subscribers and about 1.6 million mobile subscribers, representing significant market share.

Quebecor, Inc. (TSE:QBR.B - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as C$42.62 and last traded at C$42.59, with a volume of 432603 shares trading hands. The stock had previously closed at C$42.16.

Wall Street Analysts Forecast Growth

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

Quebecor Price Performance

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 firm has a market capitalization of C$9.75 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 1.43 and a beta of 0.60. The company has a fifty day moving average price of C$40.31 and a two-hundred day moving average price of C$38.02.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.