Quebecor (TSE:QBR.B) Sets New 1-Year High - Here's What Happened

Key Points

• Quebecor's stock (TSE: QBR.B) reached a new 52-week high of C$44.27 during trading, closing at C$44.07 with a trading volume of 23,509 shares.
• Numerous analyst upgrades have occurred recently, with target prices raised by firms like National Bankshares and BMO Capital Markets, resulting in a consensus rating of "Moderate Buy" for the stock.
• The company maintains a substantial market capitalization of C$10.18 billion, high debt-to-equity ratio of 363.97, and a price-to-earnings ratio of 13.28, indicating significant financial activity in the telecom sector.

Quebecor, Inc. (TSE:QBR.B - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as C$44.27 and last traded at C$44.07, with a volume of 23509 shares trading hands. The stock had previously closed at C$43.82.

Analyst Upgrades and Downgrades

Several research firms have commented on QBR.B. National Bankshares boosted their target price on Quebecor from C$42.00 to C$45.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. Canaccord Genuity Group raised their target price on shares of Quebecor from C$40.75 to C$43.25 in a research note on Thursday, July 10th. BMO Capital Markets raised shares of Quebecor from a "market perform" rating to an "outperform" rating and raised their target price for the company from C$40.00 to C$47.00 in a research note on Thursday, September 4th. TD Securities raised their target price on shares of Quebecor from C$44.00 to C$46.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Finally, Desjardins decreased their target price on shares of Quebecor from C$44.00 to C$43.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$42.59.

Quebecor Trading Up 1.2%

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 business has a fifty day simple moving average of C$41.31 and a 200 day simple moving average of C$39.27. The stock has a market capitalization of C$10.18 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 1.43 and a beta of 0.64.

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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