Quebecor (TSE:QBR.B) Share Price Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• Quebecor shares crossed above their 200-day moving average, reaching C$66.08 before closing at C$63.73 on volume of about 2.2 million shares.
• Analyst sentiment remains positive overall, with seven Buy ratings and five Holds producing a consensus “Moderate Buy” rating and an average price target of C$67.79.
• Quebecor reported quarterly revenue of C$1.40 billion and EPS of C$0.97, alongside a 12.99% net margin and 37.44% return on equity.

Quebecor, Inc. (TSE:QBR.B - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$60.08 and traded as high as C$66.08. Quebecor shares last traded at C$63.73, with a volume of 2,217,598 shares traded.

Wall Street Analyst Weigh In

A number of research firms have issued reports on QBR.B. National Bank Financial upped their target price on shares of Quebecor from C$67.00 to C$74.00 and gave the company an "outperform" rating in a report on Tuesday, June 23rd. BMO Capital Markets lifted their price target on shares of Quebecor from C$63.00 to C$67.00 and gave the stock an "outperform" rating in a report on Friday, May 15th. Canaccord Genuity Group lowered shares of Quebecor from a "buy" rating to a "hold" rating and set a C$68.00 price objective for the company. in a research report on Friday, July 10th. Desjardins upped their price objective on shares of Quebecor from C$66.00 to C$72.00 and gave the company a "buy" rating in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada raised their target price on shares of Quebecor from C$64.00 to C$70.00 and gave the stock a "sector perform" rating in a research report on Friday, July 10th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Quebecor presently has a consensus rating of "Moderate Buy" and an average target price of C$67.79.

Quebecor Stock Performance

The company has a market cap of C$14.36 billion, a price-to-earnings ratio of 16.60, a P/E/G ratio of 1.43 and a beta of 0.68. 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 stock's 50 day moving average price is C$67.28 and its 200 day moving average price is C$60.08.

Quebecor (TSE:QBR.B - Get Free Report) last released its earnings results on Thursday, May 14th. The company reported C$0.97 earnings per share (EPS) for the quarter. Quebecor had a net margin of 12.99% and a return on equity of 37.44%. The business had revenue of C$1.40 billion for the quarter.

Quebecor Company Profile

Quebecor, a Canadian leader in telecommunications, entertainment, news media and culture, is one of the best-performing integrated communications companies in the industry. Driven by their determination to deliver the best possible customer experience, all of Quebecor's subsidiaries and brands are differentiated by their high-quality, multiplatform, convergent products and services. Québec-based Quebecor TSX: QBR.A TSX: QBR.B employs more than 11,000 people in Canada. A family business founded in 1950, Quebecor is strongly committed to the community.

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