Quebecor (TSE:QBR.B) Hits New 52-Week High – Still a Buy?

Quebecor, Inc. (TSE:QBR.B)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$53.38 and last traded at C$53.37, with a volume of 229342 shares. The stock had previously closed at C$52.58.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on QBR.B. Canadian Imperial Bank of Commerce boosted their price objective on Quebecor from C$54.00 to C$57.00 in a research report on Tuesday, December 9th. Scotiabank cut their price target on Quebecor from C$51.75 to C$51.25 and set a “sector perform” rating on the stock in a research note on Tuesday, January 20th. Desjardins upped their price objective on Quebecor from C$53.00 to C$54.00 and gave the company a “buy” rating in a research note on Monday, January 12th. JPMorgan Chase & Co. set a C$56.00 target price on shares of Quebecor and gave the stock an “overweight” rating in a research report on Monday, November 10th. Finally, TD Securities upped their price target on shares of Quebecor from C$49.00 to C$52.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$52.72.

Quebecor Stock Performance

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 stock’s 50 day moving average price is C$50.83 and its 200 day moving average price is C$46.87. The company has a market capitalization of C$12.16 billion, a P/E ratio of 15.00, a price-to-earnings-growth ratio of 1.43 and a beta of 0.63.

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.