Quebecor (TSE:QBR.B) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Quebecor, Inc. (TSE:QBR.B) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$59.18 and traded as high as C$67.68. Quebecor shares last traded at C$67.36, with a volume of 557,775 shares traded.

Analyst Ratings Changes

QBR.B has been the subject of several recent research reports. Canaccord Genuity Group cut Quebecor from a “buy” rating to a “hold” rating and set a C$68.00 price target for the company. in a research report on Friday, July 10th. BMO Capital Markets upped their price objective on Quebecor from C$63.00 to C$67.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Desjardins increased their price objective on Quebecor from C$66.00 to C$72.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Scotiabank increased their price objective on Quebecor from C$58.00 to C$63.50 and gave the company a “sector perform” rating in a report on Tuesday, July 7th. Finally, ATB Cormark Capital Markets raised 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 note on Friday, May 15th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$67.79.

Quebecor Price Performance

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$15.18 billion, a price-to-earnings ratio of 17.54, a P/E/G ratio of 1.43 and a beta of 0.68. The company’s 50 day moving average is C$67.27 and its 200-day moving average is C$59.18.

Quebecor (TSE:QBR.B) last announced its quarterly earnings results on Thursday, May 14th. The company reported C$0.97 earnings per share for the quarter. The firm 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%.

Quebecor Company Profile

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.