Royal Bank Of Canada Issues Positive Forecast for Quebecor (TSE:QBR.B) Stock Price

Key Points

• Royal Bank of Canada raised its price target on Quebecor from C$64 to C$70, while keeping a sector perform rating. The new target implies about 4.85% upside from the previous close.
• Several other analysts also turned more positive, including BMO, TD, CIBC, ATB Cormark, and National Bank Financial, with targets ranging up to C$78. Overall, Quebecor carries a Moderate Buy consensus with 7 buy and 5 hold ratings.
• The stock recently traded at C$66.76, near its 52-week high of C$70.75, after falling during the session. Quebecor’s latest quarterly results showed C$0.97 EPS on C$1.40 billion in revenue.

Quebecor (TSE:QBR.B - Get Free Report) had its target price increased by analysts at Royal Bank Of Canada from C$64.00 to C$70.00 in a research report issued on Friday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target points to a potential upside of 4.85% from the stock's previous close.

Other equities research analysts have also issued research reports about the company. BMO Capital Markets upped their target price on Quebecor from C$63.00 to C$67.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. TD increased their price objective on Quebecor from C$69.00 to C$78.00 and gave the company a "buy" rating in a research note on Monday, June 29th. Canadian Imperial Bank of Commerce lifted their price objective on Quebecor from C$67.00 to C$78.00 in a research report on Friday. ATB Cormark Capital Markets boosted their target price on shares of Quebecor from C$63.00 to C$69.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. Finally, National Bank Financial upped their target price on shares of Quebecor from C$67.00 to C$74.00 and gave the company an "outperform" rating in a report on Tuesday, June 23rd. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$67.29.

Quebecor Price Performance

QBR.B traded down C$2.07 during midday trading on Friday, reaching C$66.76. 309,226 shares of the company's stock were exchanged, compared to its average volume of 950,527. Quebecor has a 1-year low of C$36.68 and a 1-year high of C$70.75. The stock has a market capitalization of C$15.04 billion, a PE ratio of 17.39, a P/E/G ratio of 1.43 and a beta of 0.68. The company has a debt-to-equity ratio of 363.97, a current ratio of 1.01 and a quick ratio of 0.35. The business's 50-day moving average price is C$65.42 and its 200 day moving average price is C$58.22.

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

Quebecor Company Profile

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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