Royal Bank Of Canada Forecasts Strong Price Appreciation for Quebecor (TSE:QBR.B) Stock

Quebecor (TSE:QBR.B) had its price objective hoisted by stock analysts at Royal Bank Of Canada from C$70.00 to C$71.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 4.09% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. TD increased their price objective on shares of Quebecor from C$78.00 to C$80.00 and gave the company a “buy” rating in a report on Friday. ATB Cormark Capital Markets upped their target price on Quebecor from C$63.00 to C$69.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Desjardins increased their price target on Quebecor from C$66.00 to C$72.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Canaccord Genuity Group cut Quebecor from a “buy” rating to a “hold” rating and set a C$68.00 price target on the stock. in a research report on Friday, July 10th. Finally, National Bank Financial boosted their price objective on Quebecor from C$67.00 to C$74.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Quebecor has a consensus rating of “Moderate Buy” and a consensus price target of C$69.71.

Quebecor Stock Performance

Shares of TSE QBR.B traded up C$0.99 during midday trading on Friday, reaching C$68.21. 443,353 shares of the company traded hands, compared to its average volume of 943,816. The company has a market cap of C$15.37 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 1.43 and a beta of 0.69. The stock has a 50-day moving average price of C$67.21 and a 200 day moving average price of C$60.31. Quebecor has a 52 week low of C$36.94 and a 52 week high of C$70.75. The company has a debt-to-equity ratio of 363.97, a current ratio of 1.01 and a quick ratio of 0.35.

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

About Quebecor

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.