Quebecor (TSE:QBR.B) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• Quebecor's shares have risen above their **200-day moving average**, trading at C$39.28 with a recent peak of C$39.53.
• Equities analysts show a **mixed outlook** with ratings ranging from "hold" to "buy", and a consensus rating classified as **"Moderate Buy"** with an average target price of C$40.97.
• The company holds a market capitalization of **C$6.20 billion** and has a significant presence in Quebec's telecom market, with over **1.8 million internet subscribers**.

Quebecor, Inc. (TSE:QBR.B - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$37.12 and traded as high as C$39.53. Quebecor shares last traded at C$39.28, with a volume of 935,508 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on QBR.B shares. Desjardins reduced their price target on Quebecor from C$44.00 to C$43.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Canaccord Genuity Group boosted their price target on Quebecor from C$40.75 to C$43.25 in a report on Thursday, July 10th. National Bankshares raised Quebecor from a "sector perform" rating to an "outperform" rating and set a C$42.00 price objective on the stock in a research report on Tuesday, August 12th. Finally, TD Securities lifted their price objective on Quebecor from C$44.00 to C$46.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$40.97.

Quebecor Price Performance

The firm has a market capitalization of C$6.39 billion, a P/E ratio of 12.77, a PEG ratio of 1.43 and a beta of 0.39. 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 firm has a 50-day moving average of C$40.05 and a 200-day moving average of C$37.29.

Quebecor Company Profile

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.