Shares of Quebecor, Inc. (TSE:QBR.B) have received an average rating of “Moderate Buy” from a group of seven analysts currently covering the firm, according to a report from MarketBeat Ratings. Among these analysts, three have issued a hold recommendation, while four have assigned a buy rating, reflecting a generally positive outlook for the company’s stock.
The average 12-month price target set by brokerages for Quebecor is C$50.19. Recent evaluations from various equities research firms illustrate a range of optimistic projections for the company. Notably, TD Securities raised its price target for Quebecor from C$49.00 to C$52.00 on November 7, 2023, maintaining a buy rating. Similarly, Desjardins increased its target price from C$43.00 to C$47.00 on October 9, 2023.
Further assessments include CIBC, which elevated its price target from C$54.00 to C$57.00. On November 10, JPMorgan Chase & Co. set a price objective of C$56.00 and assigned an “overweight” rating. Conversely, the Royal Bank of Canada adjusted its stance, moving from an “outperform” to a “sector perform” rating while slightly increasing its target price from C$45.00 to C$46.00 on October 15, 2023.
Current Stock Performance and Financial Overview
On Friday, November 10, 2023, shares of Quebecor opened at C$51.98. The company has demonstrated significant growth, with a market capitalization of C$11.88 billion and a price-to-earnings (P/E) ratio of 14.64. Quebecor’s stock performance has shown volatility over the past year, with a low of C$30.02 and a high of C$53.32.
The company’s financial health is further highlighted by a return on equity of 37.44% and a net margin of 12.99%. Quebecor’s recent earnings report, released on November 6, 2023, revealed earnings per share (EPS) of C$1.05 alongside quarterly revenue of C$1.41 billion. 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 primarily operates in mobile and fixed-line telecommunications within Quebec, where it stands as the leading provider. The company boasts over 1.8 million internet subscribers, serving more than 60% of the homes accessible through its network. Additionally, Quebecor holds approximately 1.6 million mobile subscribers, accounting for over 20% of the wireless market share in the region.
The positive analyst recommendations and solid financial performance position Quebecor as a noteworthy option for investors seeking opportunities in the telecommunications sector. As the company continues to expand its subscriber base and enhance its service offerings, it may further solidify its standing in the competitive market landscape.
