Quebecor (TSE:QBR.B) Stock Rating Lowered by Canaccord Genuity Group

Key Points

• Canaccord Genuity Group downgraded Quebecor from “buy” to “hold” and kept a C$68.00 price target, implying only about 1.86% upside from the current share price.
• Other analysts have been mixed but generally constructive, with several firms raising price targets; MarketBeat reports a consensus rating of “Moderate Buy” and an average target price of C$67.29.
• Quebecor’s shares traded lower to C$66.76 on Friday, while the company recently posted C$0.97 EPS and C$1.40 billion in quarterly revenue.

Quebecor (TSE:QBR.B - Get Free Report) was downgraded by investment analysts at Canaccord Genuity Group from a "buy" rating to a "hold" rating in a report issued on Friday,BayStreet.CA reports. They currently have a C$68.00 price objective on the stock. Canaccord Genuity Group's price target would indicate a potential upside of 1.86% from the stock's current price.

A number of other brokerages have also recently issued reports on QBR.B. BMO Capital Markets upped their price objective on shares of Quebecor from C$63.00 to C$67.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. Scotiabank lifted their target price on shares of Quebecor from C$58.00 to C$63.50 and gave the stock a "sector perform" rating in a research report on Tuesday. Royal Bank Of Canada boosted their price target on shares of Quebecor from C$64.00 to C$70.00 and gave the stock a "sector perform" rating in a research note on Friday. Canadian Imperial Bank of Commerce raised their price objective on Quebecor from C$67.00 to C$78.00 in a research note on Friday. Finally, National Bank Financial lifted their price objective on Quebecor from C$67.00 to C$74.00 and gave the stock an "outperform" rating in a report on Tuesday, June 23rd. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$67.29.

Quebecor Price Performance

TSE:QBR.B traded down C$2.07 during mid-day trading on Friday, reaching C$66.76. The stock had a trading volume of 309,226 shares, compared to its average volume of 950,527. The firm has a 50 day moving average price of C$65.42 and a two-hundred day moving average price of C$58.22. The stock has a market capitalization of C$15.04 billion, a P/E ratio of 17.39, a P/E/G ratio of 1.43 and a beta of 0.68. Quebecor has a one year low of C$36.68 and a one year high of C$70.75. The company has a debt-to-equity ratio of 363.97, a quick ratio of 0.35 and a current ratio of 1.01.

Quebecor (TSE:QBR.B - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported C$0.97 EPS for the quarter. The business had revenue of C$1.40 billion for the quarter. Quebecor had a net margin of 12.99% and a return on equity of 37.44%.

About Quebecor

Quebecor, a Canadian leader in telecommunications, entertainment, news media and culture, is one of the best-performing integrated communications companies in the industry. Driven by their determination to deliver the best possible customer experience, all of Quebecor's subsidiaries and brands are differentiated by their high-quality, multiplatform, convergent products and services. Québec-based Quebecor TSX: QBR.A TSX: QBR.B employs more than 11,000 people in Canada. A family business founded in 1950, Quebecor is strongly committed to the community.

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