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

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

Other equities analysts have also recently issued reports about the company. BMO Capital Markets lifted their price target on Quebecor from C$35.00 to C$37.00 in a research report on Thursday, September 5th. TD Securities reduced their target price 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. CIBC upped their price objective on Quebecor from C$39.00 to C$40.00 in a report on Friday, November 8th. Finally, Scotiabank cut their price objective on Quebecor from C$38.00 to C$37.00 in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Quebecor has an average rating of “Moderate Buy” and an average target price of C$38.19.

Quebecor Stock Performance

Quebecor stock traded up C$0.32 during mid-day trading on Wednesday, reaching C$31.46. 385,534 shares of the company’s stock were exchanged, compared to its average volume of 719,020. The firm has a market capitalization of C$4.96 billion, a PE ratio of 9.92, a P/E/G ratio of 1.43 and a beta of 0.39. The business’s fifty day simple moving average is C$33.65 and its 200 day simple moving average is C$31.95. 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 has a one year low of C$27.84 and a one year 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.