Quebecor (TSE:QBR.B) Upgraded to Outperform at Royal Bank of Canada

Quebecor (TSE:QBR.B) was upgraded by investment analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a C$39.00 price objective on the stock, up from their previous price objective of C$37.00. Royal Bank of Canada’s target price would suggest a potential upside of 23.97% from the company’s previous close.

Several other research firms have also recently weighed in on QBR.B. TD Securities reduced their price objective on Quebecor from C$40.00 to C$39.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Scotiabank reduced their price target on shares of Quebecor from C$38.00 to C$37.00 in a research report on Tuesday, November 26th. CIBC upped their price target on Quebecor from C$39.00 to C$40.00 in a research note on Friday, November 8th. Finally, BMO Capital Markets upped their target price on shares of Quebecor from C$35.00 to C$37.00 in a research report on Thursday, September 5th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$38.19.

Quebecor Stock Up 1.0 %

TSE:QBR.B traded up C$0.32 during trading hours on Wednesday, hitting C$31.46. 385,534 shares of the company’s stock traded hands, compared to its average volume of 719,020. The company has a debt-to-equity ratio of 363.97, a quick ratio of 0.35 and a current ratio of 1.01. Quebecor has a twelve month low of C$27.84 and a twelve month high of C$35.90. The stock’s fifty day moving average price is C$33.65 and its two-hundred day moving average price is C$31.95. The firm has a market cap of C$4.96 billion, a P/E ratio of 9.92, a P/E/G ratio of 1.43 and a beta of 0.39.

Quebecor Company Profile

Quebecor Inc operates in the telecommunications, media, and sports and entertainment businesses in Canada. Its Telecommunications segment offers television distribution, Internet access, business solutions, cable and mobile telephony, and over-the-top video services; and engages in the rental of movies, televisual products, and video games through its video-on-demand service and video rental stores.