Shares of Quebecor, Inc. (TSE:QBR.B) have been assigned an average rating of “Moderate Buy” by seven analyst firms covering the company, according to MarketBeat Ratings. This consensus reflects a balance of three hold recommendations and four buy ratings, indicating a generally optimistic outlook for the telecom provider.
Several analysts recently updated their price targets for Quebecor, underscoring the confidence in the company’s market position. TD Securities increased its price objective from C$49.00 to C$52.00, emphasizing a buy rating in a report released on November 7, 2023. Similarly, Desjardins raised its target from C$43.00 to C$47.00, also rating the stock as a buy on October 9, 2023.
Other notable adjustments include CIBC raising its target from C$54.00 to C$57.00, while JPMorgan Chase & Co. set a price objective of C$56.00, categorizing the stock as overweight in their analysis on November 10, 2023. In contrast, the Royal Bank of Canada revised its rating from outperform to sector perform, slightly adjusting its target price from C$45.00 to C$46.00 on October 15, 2023.
Market Performance Insights
Quebecor’s shares opened at C$51.98 on Friday, with a 50-day moving average price of C$47.91 and a 200-day moving average price of C$43.35. The company boasts a market capitalization of approximately C$11.88 billion and operates with a P/E ratio of 14.64, a PEG ratio of 1.43, and a beta of 0.55. Over the past year, the stock has experienced a low of C$30.02 and a high of C$53.32.
On November 6, 2023, Quebecor reported earnings of C$1.05 per share for the quarter, with total revenues reaching C$1.41 billion. The company demonstrated strong financial health, evidenced by a return on equity of 37.44% and a net margin of 12.99%.
Company Overview and Market Position
Quebecor is a leading telecom provider in Quebec, primarily offering mobile and fixed-line services. The company serves over 1.8 million internet subscribers, providing coverage to more than 60% of households in its network area. Additionally, Quebecor has around 1.6 million mobile subscribers, capturing more than 20% of the wireless market share in the province.
The positive ratings and robust performance indicators suggest that Quebecor is well-positioned for continued growth in the competitive telecom landscape. As the company navigates market challenges, its strong financial metrics and favorable analyst ratings may attract further investor interest.
