Short Interest in Quebecor Inc. (OTCMKTS:QBCRF) Rises By 175.5%

Key Points

• Quebecor’s short interest surged 175.5% to 1.81 million shares as of July 31, representing about 0.8% of shares outstanding and a 45.9-day short-interest coverage ratio.
• Analyst sentiment remained favorable, with four Buy ratings and three Holds, resulting in a MarketBeat consensus rating of “Moderate Buy.”
• Quebecor reported quarterly revenue of $1.01 billion, above estimates, while adjusted earnings of $0.77 per share narrowly missed consensus by one cent.

Quebecor Inc. (OTCMKTS:QBCRF - Get Free Report) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 1,813,040 shares, a growth of 175.5% from the July 15th total of 657,978 shares. Approximately 0.8% of the company's shares are short sold. Based on an average daily trading volume, of 39,510 shares, the days-to-cover ratio is presently 45.9 days.

Analysts Set New Price Targets

Several research firms have issued reports on QBCRF. TD Securities reissued a "buy" rating on shares of Quebecor in a research note on Friday, August 7th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Quebecor in a research report on Friday, August 7th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Quebecor in a report on Friday, July 10th. Raymond James Financial initiated coverage on Quebecor in a research note on Wednesday, July 15th. They issued a "market perform" rating on the stock. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Quebecor in a research report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy".

Quebecor Stock Performance

Shares of OTCMKTS QBCRF opened at $46.61 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.76 and a current ratio of 0.94. The stock has a 50 day moving average price of $47.78 and a 200 day moving average price of $43.99. Quebecor has a 52 week low of $28.67 and a 52 week high of $49.05. The stock has a market capitalization of $10.50 billion and a PE ratio of 67.55.

Quebecor (OTCMKTS:QBCRF - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.01). The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $997.78 million. Quebecor had a return on equity of 34.04% and a net margin of 16.30%.

Quebecor Company Profile

Quebecor Inc is a Canadian integrated media and telecommunications company offering a diversified portfolio of services and content. Through its wholly owned subsidiary Vidéotron, the company provides cable television, high-speed internet, wireless telephony and residential and business telecom solutions. Its media arm, Quebecor Media, publishes newspapers and magazines, operates specialty and conventional television networks and engages in digital media and advertising across multiple platforms.

Founded by Pierre Péladeau in 1965 as a printing enterprise in Montreal, Quebecor has expanded its operations over five decades into one of Canada’s leading content creators and service providers.

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