Quebecor (TSE:QBR.B) Downgraded to Hold Rating by Canaccord Genuity Group

Canaccord Genuity Group cut shares of Quebecor (TSE:QBR.B) from a buy rating to a hold rating in a research note published on Friday,BayStreet.CA reports. Canaccord Genuity Group currently has C$68.00 price objective on the stock.

A number of other analysts have also weighed in on QBR.B. Desjardins increased their target price on Quebecor from C$61.00 to C$66.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. TD boosted their target price on shares of Quebecor from C$69.00 to C$78.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Scotia boosted their price objective on shares of Quebecor from C$54.50 to C$58.00 and gave the company a “sector perform” rating in a research report on Friday, May 15th. BMO Capital Markets upped their target price on shares of Quebecor from C$63.00 to C$67.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Finally, ATB Cormark Capital Markets raised their target price on shares of Quebecor from C$63.00 to C$69.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$67.29.

Quebecor Trading Down 3.1%

Shares of QBR.B traded down C$2.15 during mid-day trading on Friday, reaching C$66.68. 692,766 shares of the company’s stock traded hands, compared to its average volume of 953,596. The stock has a market cap of C$15.03 billion, a P/E ratio of 17.36, a P/E/G ratio of 1.43 and a beta of 0.68. The stock’s 50-day moving average is C$65.61 and its two-hundred day moving average is C$58.28. Quebecor has a 12 month low of C$36.68 and a 12 month 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 issued its quarterly earnings results on Thursday, May 14th. The company reported C$0.97 earnings per share for the quarter. Quebecor had a return on equity of 37.44% and a net margin of 12.99%.The firm had revenue of C$1.40 billion for the quarter.

Quebecor Company Profile

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.