Scotia Issues Positive Forecast for Quebecor (TSE:QBR.B) Stock Price

Key Points

• Scotia raised Quebecor’s price target to C$66.00 from C$63.50 while maintaining a “sector perform” rating, implying 3.24% downside from the stock’s current price.
• Analyst sentiment remains positive overall, with seven “buy” ratings and five “hold” ratings producing a consensus “Moderate Buy” rating and average target of C$69.71.
• Quebecor shares rose 1.5% to C$68.21, near their 52-week high of C$70.75. The company recently reported quarterly EPS of C$0.97 on revenue of C$1.40 billion.

Quebecor (TSE:QBR.B - Get Free Report) had its price target lifted by research analysts at Scotia from C$63.50 to C$66.00 in a report issued on Friday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Scotia's price objective points to a potential downside of 3.24% from the company's current price.

Other equities analysts have also issued research reports about the company. TD lifted their target price on Quebecor from C$78.00 to C$80.00 and gave the company a "buy" rating in a research note on Friday. Desjardins raised their price target on shares of Quebecor from C$72.00 to C$76.00 and gave the company a "buy" rating in a report on Friday. Canaccord Genuity Group downgraded shares of Quebecor from a "buy" rating to a "hold" rating and set a C$68.00 price objective on the stock. in a research report on Friday, July 10th. BMO Capital Markets boosted their price objective on shares of Quebecor from C$63.00 to C$67.00 and gave the stock an "outperform" rating in a research note on Friday, May 15th. Finally, ATB Cormark Capital Markets increased 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 report on Friday, May 15th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$69.71.

Quebecor Stock Up 1.5%

TSE QBR.B traded up C$0.99 during midday trading on Friday, hitting C$68.21. 443,353 shares of the company traded hands, compared to its average volume of 943,816. 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 company has a market cap of C$15.37 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 1.43 and a beta of 0.69. The company's 50-day simple moving average is C$67.21 and its 200-day simple moving average is C$60.31. Quebecor has a 52 week low of C$36.94 and a 52 week high of C$70.75.

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

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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