Quebecor (TSE:QBR.B) Price Target Cut to C$37.00

Quebecor (TSE:QBR.B) had its price objective lowered by Scotiabank from C$38.50 to C$37.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s price target points to a potential upside of 27.50% from the stock’s current price.

QBR.B has been the topic of a number of other reports. Canaccord Genuity Group reduced their target price on shares of Quebecor from C$35.00 to C$34.50 and set a “buy” rating on the stock in a research note on Friday, February 23rd. BMO Capital Markets downgraded shares of Quebecor from an “outperform” rating to a “market perform” rating and reduced their price target for the company from C$42.00 to C$33.00 in a research note on Tuesday, April 2nd. National Bankshares dropped their price objective on shares of Quebecor from C$40.00 to C$38.00 and set an “outperform” rating for the company in a report on Wednesday. CIBC dropped their price objective on shares of Quebecor from C$42.00 to C$39.00 in a report on Thursday, April 4th. Finally, Royal Bank of Canada dropped their price objective on shares of Quebecor from C$36.00 to C$35.00 and set a “sector perform” rating for the company in a report on Wednesday, April 10th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Quebecor currently has an average rating of “Moderate Buy” and a consensus price target of C$37.94.

Quebecor Price Performance

Shares of TSE:QBR.B traded down C$0.27 during midday trading on Wednesday, hitting C$29.02. The company’s stock had a trading volume of 335,297 shares, compared to its average volume of 428,576. The company has a debt-to-equity ratio of 444.48, a quick ratio of 0.35 and a current ratio of 0.66. The business’s 50 day simple moving average is C$30.74 and its 200 day simple moving average is C$30.70. Quebecor has a 12-month low of C$27.25 and a 12-month high of C$35.44. The company has a market cap of C$4.47 billion, a P/E ratio of 10.36, a price-to-earnings-growth ratio of 1.84 and a beta of 0.38.

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.