ATB Cormark Capital Markets Forecasts Strong Price Appreciation for Quebecor (TSE:QBR.B) Stock

Quebecor (TSE:QBR.B) had its price objective raised by ATB Cormark Capital Markets from C$63.00 to C$69.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price target indicates a potential upside of 6.75% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. Desjardins set a C$61.00 price objective on shares of Quebecor and gave the stock a “buy” rating in a research report on Tuesday, April 7th. BMO Capital Markets boosted their price target on shares of Quebecor from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Royal Bank Of Canada boosted their price target on shares of Quebecor from C$57.00 to C$60.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 9th. Canadian Imperial Bank of Commerce boosted their price target on shares of Quebecor from C$61.00 to C$66.00 in a research note on Tuesday, April 7th. Finally, TD boosted their price target on shares of Quebecor from C$63.00 to C$69.00 and gave the stock a “buy” rating in a research note on Friday. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Quebecor has an average rating of “Moderate Buy” and a consensus price target of C$63.71.

Quebecor Stock Performance

TSE QBR.B traded up C$2.57 during trading on Friday, reaching C$64.64. The company’s stock had a trading volume of 495,269 shares, compared to its average volume of 954,894. The company has a debt-to-equity ratio of 363.97, a quick ratio of 0.35 and a current ratio of 1.01. The firm has a market cap of C$14.60 billion, a price-to-earnings ratio of 18.21, a P/E/G ratio of 1.43 and a beta of 0.75. Quebecor has a twelve month low of C$36.68 and a twelve month high of C$64.93. The business’s fifty day moving average price is C$57.66 and its 200-day moving average price is C$53.28.

Quebecor (TSE:QBR.B) last posted its quarterly earnings data on Thursday, May 14th. The company reported C$0.97 EPS for the quarter. The company had revenue of C$1.40 billion for the quarter. Quebecor had a net margin of 12.99% and a return on equity of 37.44%.

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.