Quebecor (TSE:QBR.B) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Quebecor, Inc. (TSE:QBR.B)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$52.02 and traded as high as C$56.47. Quebecor shares last traded at C$56.47, with a volume of 1,049,023 shares trading hands.

Wall Street Analysts Forecast Growth

QBR.B has been the topic of a number of research reports. Canadian Imperial Bank of Commerce upped their target price on shares of Quebecor from C$61.00 to C$66.00 in a research report on Tuesday, April 7th. National Bank Financial upgraded shares of Quebecor from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from C$57.00 to C$59.00 in a research report on Monday, April 13th. Desjardins set a C$61.00 target price on shares of Quebecor and gave the stock a “buy” rating in a research report on Tuesday, April 7th. Scotiabank upped their target price 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, Canaccord Genuity Group upgraded shares of Quebecor from a “hold” rating to a “buy” rating and upped their target price for the stock from C$51.25 to C$60.00 in a research report on Monday, March 2nd. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$60.23.

Quebecor Trading Up 1.3%

The firm’s 50-day moving average is C$57.07 and its 200 day moving average is C$52.02. The company has a current ratio of 1.01, a quick ratio of 0.35 and a debt-to-equity ratio of 363.97. The firm has a market capitalization of C$12.75 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 1.43 and a beta of 0.68.

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

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.