Quebecor (TSE:QBR.B) Stock Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• Quebecor shares crossed above their 200-day moving average of C$36.79, reaching a high of C$39.21 before closing at C$38.95 with a trading volume of 440,747 shares.
• Several Wall Street analysts have raised their price targets for Quebecor, with Canaccord Genuity setting a new target of C$43.25, reflecting positive growth forecasts for the company.
• Quebecor is the leading telecom provider in Quebec, serving over 1.8 million internet subscribers and about 1.6 million mobile subscribers, capturing significant market share in the region.

Quebecor, Inc. (TSE:QBR.B - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$36.79 and traded as high as C$39.21. Quebecor shares last traded at C$38.95, with a volume of 440,747 shares.

Analyst Ratings Changes

Several research analysts recently issued reports on QBR.B shares. Canaccord Genuity Group raised their target price on shares of Quebecor from C$40.75 to C$43.25 in a report on Thursday, July 10th. National Bankshares raised their target price on shares of Quebecor from C$38.00 to C$40.00 and gave the stock a "sector perform" rating in a report on Friday, June 6th. Desjardins reduced 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 report on Friday. TD Securities raised their target price on shares of Quebecor from C$44.00 to C$46.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. Finally, Scotiabank raised their target price on shares of Quebecor from C$36.00 to C$36.50 and gave the stock a "sector perform" rating in a report on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of C$40.72.

Quebecor Stock Performance

The firm's fifty day moving average price is C$40.04 and its 200 day moving average price is C$36.97. 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 has a market capitalization of C$5.97 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 1.43 and a beta of 0.39.

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.