Quebecor (TSE:QBR.B) Price Target Raised to C$61.00

Quebecor (TSE:QBR.B) had its price target raised by analysts at Canadian Imperial Bank of Commerce from C$57.00 to C$61.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Canadian Imperial Bank of Commerce’s price target suggests a potential upside of 7.83% from the stock’s previous close.

A number of other research analysts have also recently issued reports on QBR.B. Desjardins lifted their price objective on Quebecor from C$54.00 to C$61.00 and gave the company a “buy” rating in a research note on Friday. BMO Capital Markets lifted their price target on Quebecor from C$47.00 to C$53.00 in a research report on Monday, November 10th. Canaccord Genuity Group cut Quebecor from a “buy” rating to a “hold” rating and upped their price objective for the company from C$50.00 to C$51.25 in a research report on Tuesday, January 13th. National Bank Financial lifted their target price on Quebecor from C$54.00 to C$57.00 and gave the stock a “sector perform” rating in a report on Friday. Finally, JPMorgan Chase & Co. set a C$56.00 price target on Quebecor and gave the stock an “overweight” rating in a research note on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$58.08.

Quebecor Stock Up 5.1%

TSE:QBR.B traded up C$2.77 during mid-day trading on Friday, hitting C$56.57. 1,554,196 shares of the company’s stock were exchanged, compared to its average volume of 755,688. Quebecor has a one year low of C$32.57 and a one year high of C$57.77. The company has a debt-to-equity ratio of 363.97, a current ratio of 1.01 and a quick ratio of 0.35. The business has a fifty day moving average price of C$51.26 and a 200 day moving average price of C$47.61. The company has a market cap of C$12.92 billion, a PE ratio of 15.94, a P/E/G ratio of 1.43 and a beta of 0.63.

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

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. 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.