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

Key Points

• Quebecor's stock has crossed above its 200-day moving average of C$38.74, with the last trade at C$43.80.
• Analyst ratings are predominantly positive, with five analysts recommending a buy and a consensus price target of C$42.22, reflecting strong investor confidence.
• The company holds a significant market position in Quebec, boasting over 1.8 million internet subscribers and a wireless market share exceeding 20%.

Quebecor, Inc. (TSE:QBR.B - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$38.74 and traded as high as C$44.22. Quebecor shares last traded at C$43.80, with a volume of 574,760 shares traded.

Wall Street Analysts Forecast Growth

QBR.B has been the subject of a number of analyst reports. Canaccord Genuity Group raised their price target on Quebecor from C$40.75 to C$43.25 in a report on Thursday, July 10th. Desjardins cut their price target on Quebecor from C$44.00 to C$43.00 and set a "buy" rating for the company in a report on Friday, August 8th. TD Securities raised their price target on Quebecor from C$44.00 to C$46.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. BMO Capital Markets raised Quebecor from a "market perform" rating to an "outperform" rating and raised their price target for the stock from C$40.00 to C$47.00 in a report on Thursday, September 4th. Finally, National Bankshares raised their price target on Quebecor from C$42.00 to C$45.00 and gave the stock an "outperform" rating in a report on Wednesday. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of C$42.59.

Quebecor Stock Down 1.2%

The company has a market cap of C$9.78 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 1.43 and a beta of 0.64. The company has a 50 day moving average of C$40.90 and a 200-day moving average of C$38.93. The company has a debt-to-equity ratio of 363.97, a current ratio of 1.01 and a quick ratio of 0.35.

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.