Canadian Imperial Bank of Commerce Issues Positive Forecast for Quebecor (TSE:QBR.B) Stock Price

Quebecor (TSE:QBR.B) had its price target lifted by Canadian Imperial Bank of Commerce from C$67.00 to C$78.00 in a research note issued to investors on Friday morning,BayStreet.CA reports.

A number of other research firms also recently issued reports on QBR.B. National Bank Financial lifted their target price on Quebecor from C$67.00 to C$74.00 and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. Scotia lifted their target price on Quebecor from C$54.50 to C$58.00 and gave the stock a “sector perform” rating in a research note on Friday, May 15th. ATB Cormark Capital Markets increased their price target on Quebecor from C$63.00 to C$69.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Canaccord Genuity Group raised their price objective on shares of Quebecor from C$60.00 to C$68.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, Scotiabank boosted their target price on shares of Quebecor from C$58.00 to C$63.50 and gave the company a “sector perform” rating in a research report on Tuesday. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Quebecor has an average rating of “Moderate Buy” and a consensus target price of C$67.29.

Quebecor Trading Down 3.1%

TSE QBR.B traded down C$2.15 during trading on Friday, reaching C$66.68. 692,766 shares of the stock traded hands, compared to its average volume of 953,596. The stock’s 50-day moving average price is C$65.61 and its 200 day moving average price is C$58.28. The firm has a market cap of C$15.03 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 1.43 and a beta of 0.68. Quebecor has a fifty-two week low of C$36.68 and a fifty-two week high of C$70.75. The company has a quick ratio of 0.35, a current ratio of 1.01 and a debt-to-equity ratio of 363.97.

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

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.