Quebecor (TSE:QBR.B) Rating Lowered to “Sector Perform” at Royal Bank Of Canada

Quebecor (TSE:QBR.B) was downgraded by Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Wednesday,BayStreet.CA reports. They presently have a C$46.00 price objective on the stock, up from their previous price objective of C$45.00. Royal Bank Of Canada’s target price would suggest a potential upside of 7.18% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. National Bankshares increased their price objective on shares of Quebecor from C$42.00 to C$45.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. BMO Capital Markets upgraded Quebecor from a “market perform” rating to an “outperform” rating and lifted their price target for the company from C$40.00 to C$47.00 in a report on Thursday, September 4th. Canaccord Genuity Group boosted their price target on Quebecor from C$40.75 to C$43.25 in a research report on Thursday, July 10th. Desjardins raised their price objective on Quebecor from C$43.00 to C$47.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Finally, TD Securities lifted their target price on Quebecor from C$44.00 to C$46.00 and gave the company a “buy” rating in a research note on Tuesday, June 24th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$43.72.

Quebecor Stock Up 3.2%

TSE:QBR.B opened at C$42.92 on Wednesday. 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 has a 1-year low of C$30.02 and a 1-year high of C$45.31. The company has a 50-day moving average of C$42.42 and a 200 day moving average of C$39.90. The firm has a market cap of C$9.85 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.43 and a beta of 0.54.

About Quebecor

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.