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

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 two hundred day moving average during trading on Monday . The stock has a two hundred 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 changing hands.

Analyst Ratings Changes

QBR.B has been the topic of a number of recent analyst reports. Desjardins reduced their target price on Quebecor from C$44.00 to C$43.00 and set a "buy" rating on the stock in a research note on Friday. TD Securities raised their price target 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 lifted their target price on shares of Quebecor from C$40.75 to C$43.25 in a report on Thursday, July 10th. National Bankshares boosted their price target 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. Finally, Scotiabank lifted 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 research note on Wednesday, April 16th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of C$40.72.

Quebecor Stock Up 2.8%

The firm's 50-day simple moving average is C$40.06 and its 200 day simple moving average is C$36.93. 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 has a market capitalization of C$5.97 billion, a PE 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.