Royal Bank of Canada Cuts Quebecor (TSE:QBR.B) Price Target to C$37.00

Quebecor (TSE:QBR.B) had its target price reduced by research analysts at Royal Bank of Canada from C$38.00 to C$37.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Royal Bank of Canada’s price target would indicate a potential upside of 11.14% from the stock’s current price.

Several other equities analysts also recently issued reports on the company. Scotiabank downgraded Quebecor from an “outperform” rating to a “sector perform” rating in a research report on Thursday, October 10th. BMO Capital Markets increased their price objective on shares of Quebecor from C$35.00 to C$37.00 in a report on Thursday, September 5th. Finally, TD Securities reduced their target price on shares of Quebecor from C$40.00 to C$39.00 and set a “buy” rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$37.94.

Quebecor Price Performance

Shares of Quebecor stock traded down C$0.23 during midday trading on Friday, hitting C$33.29. 156,603 shares of the company were exchanged, compared to its average volume of 675,622. The firm has a 50 day simple moving average of C$34.57 and a 200-day simple moving average of C$31.40. The company has a debt-to-equity ratio of 363.97, a current ratio of 1.01 and a quick ratio of 0.35. The firm has a market cap of C$5.25 billion, a P/E ratio of 10.50, a PEG ratio of 1.43 and a beta of 0.39. Quebecor has a 52 week low of C$27.84 and a 52 week high of C$35.90.

About Quebecor

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.