Quebecor (TSE:QBR.B) Given New C$66.00 Price Target at Canadian Imperial Bank of Commerce

Quebecor (TSE:QBR.B) had its price objective boosted by Canadian Imperial Bank of Commerce from C$61.00 to C$66.00 in a research note issued to investors on Tuesday morning,BayStreet.CA reports.

A number of other brokerages also recently issued reports on QBR.B. ATB Cormark Capital Markets lifted their price target on Quebecor from C$57.00 to C$63.00 and gave the company an “outperform” rating in a report on Friday, February 27th. Canaccord Genuity Group raised shares of Quebecor from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$51.25 to C$60.00 in a research report on Monday, March 2nd. Royal Bank Of Canada lifted their price objective on shares of Quebecor from C$52.00 to C$57.00 and gave the stock a “sector perform” rating in a research report on Friday, February 27th. Scotiabank lifted their price objective on shares of Quebecor from C$51.25 to C$54.50 and gave the stock a “sector perform” rating in a research report on Friday, February 27th. Finally, Desjardins lifted their price objective on shares of Quebecor from C$54.00 to C$61.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$59.45.

Quebecor Trading Down 0.3%

Shares of TSE:QBR.B opened at C$57.84 on Tuesday. Quebecor has a 12-month low of C$34.36 and a 12-month high of C$60.73. The business’s fifty day simple moving average is C$55.78 and its 200-day simple moving average is C$51.01. The company has a market capitalization of C$13.11 billion, a PE ratio of 16.29, a P/E/G ratio of 1.43 and a beta of 0.68. The company has a current ratio of 1.01, a quick ratio of 0.35 and a debt-to-equity ratio of 363.97.

Quebecor (TSE:QBR.B) last announced its quarterly earnings results on Thursday, February 26th. The company reported C$0.99 earnings per share (EPS) for the quarter. Quebecor had a return on equity of 37.44% and a net margin of 12.99%.The business had revenue of C$1.55 billion for the quarter.

Quebecor Company Profile

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. In addition to the quadruple-play services Quebecor offers a French-language subscription video on demand service and has a media segment that owns and operates television stations publishes newspapers and magazines and produces and distributes films and television shows.