Quebecor (TSE:QBR.B) Share Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Shares of Quebecor crossed above its 200-day moving average
• Multiple analysts raised price targets on Feb. 27 (BMO, ATB Cormark, CIBC, RBC among them), leaving the stock with a consensus rating of Moderate Buy and a consensus price target of C$58.95 (six Buy, four Hold).
• Company fundamentals show a C$13.3B market cap, trailing P/E of 16.53 and quarterly EPS of C$0.99 on C$1.55B revenue with ~13% net margin, but a very high debt-to-equity ratio (~364%), indicating notable leverage.

Shares of Quebecor, Inc. (TSE:QBR.B - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$49.48 and traded as high as C$58.68. Quebecor shares last traded at C$58.67, with a volume of 1,799,823 shares.

Analyst Upgrades and Downgrades

QBR.B has been the subject of a number of recent analyst reports. BMO Capital Markets raised their target price on Quebecor from C$58.00 to C$60.00 and gave the company an "outperform" rating in a report on Friday, February 27th. ATB Cormark Capital Markets boosted their price target on Quebecor from C$57.00 to C$63.00 and gave the stock an "outperform" rating in a research note on Friday, February 27th. Royal Bank Of Canada increased their price objective on shares of Quebecor from C$52.00 to C$57.00 and gave the company a "sector perform" rating in a research note on Friday, February 27th. Canadian Imperial Bank of Commerce increased their target price on Quebecor from C$57.00 to C$61.00 and gave the company an "outperform" rating in a report on Friday, February 27th. Finally, TD Securities cut Quebecor from a "buy" rating to a "hold" rating and raised their price objective for the stock from C$58.00 to C$60.00 in a report on Friday, February 27th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$58.95.

Quebecor Stock Performance

The company has a market capitalization of C$13.30 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 1.43 and a beta of 0.87. 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 company's fifty day simple moving average is C$53.33 and its two-hundred day simple moving average is C$49.48.

Quebecor (TSE:QBR.B - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported C$0.99 earnings per share (EPS) for the quarter. The business had revenue of C$1.55 billion for 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. In addition to the quadruple-play services Quebecor offers a French-language subscription video on demand service and has a media segment that owns and operates television stations publishes newspapers and magazines and produces and distributes films and television shows.

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