CIBC Issues Pessimistic Forecast for Quebecor (TSE:QBR.B) Stock Price

Quebecor (TSE:QBR.B) had its price objective reduced by research analysts at CIBC from C$40.00 to C$39.00 in a research note issued to investors on Monday,BayStreet.CA reports. CIBC’s target price would indicate a potential upside of 19.56% from the company’s previous close.

A number of other brokerages also recently issued reports on QBR.B. TD Securities raised their price target on shares of Quebecor from C$39.00 to C$40.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. National Bankshares cut their target price on Quebecor from C$40.00 to C$38.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Scotiabank decreased their price target on Quebecor from C$38.00 to C$37.00 in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada upgraded Quebecor from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$37.00 to C$39.00 in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$37.79.

Quebecor Price Performance

Shares of TSE QBR.B traded down C$0.09 during mid-day trading on Monday, reaching C$32.62. The company’s stock had a trading volume of 176,551 shares, compared to its average volume of 628,279. The stock has a 50-day moving average of C$31.80 and a two-hundred day moving average of C$32.66. 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 has a market capitalization of C$5.15 billion, a P/E ratio of 10.29, a P/E/G ratio of 1.43 and a beta of 0.39. Quebecor has a 1-year low of C$27.84 and a 1-year high of C$35.90.

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.