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

Key Points

• Quebecor's stock passed above its 200-day moving average, trading as high as C$44.20 before closing at C$43.48.
• Analysts have mixed opinions, with Desjardins lowering their target to C$43.00 while TD Securities raised theirs to C$46.00, indicating a generally positive outlook with an average target of C$42.22.
• Quebecor, a leading telecom provider in Quebec, has a market capitalization of C$9.98 billion and serves about 1.8 million internet subscribers.

Quebecor, Inc. (TSE:QBR.B - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$38.21 and traded as high as C$44.20. Quebecor shares last traded at C$43.48, with a volume of 921,799 shares traded.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Desjardins decreased their target price on Quebecor from C$44.00 to C$43.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. National Bankshares upgraded Quebecor from a "sector perform" rating to an "outperform" rating and set a C$42.00 price target on the stock in a report on Tuesday, August 12th. TD Securities lifted their price objective on Quebecor from C$44.00 to C$46.00 and gave the stock a "buy" rating in a research note on Tuesday, June 24th. BMO Capital Markets raised Quebecor from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from C$40.00 to C$47.00 in a research note on Thursday. Finally, Canaccord Genuity Group boosted their price target on Quebecor from C$40.75 to C$43.25 in a research note on Thursday, July 10th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$42.22.

Quebecor Price Performance

The company has a quick ratio of 0.35, a current ratio of 1.01 and a debt-to-equity ratio of 363.97. The business has a 50-day moving average price of C$40.43 and a two-hundred day moving average price of C$38.21. The company has a market capitalization of C$9.98 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 1.43 and a beta of 0.64.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.