National Bankshares has downgraded shares of Quebecor (TSE: QBR.B) from an “outperform” rating to a “sector perform” rating in a research report released to investors on Wednesday. The firm has set a price target of C$54.00 for the stock, reflecting a cautious outlook on the telecommunications provider.
Several other analysts have also recently assessed Quebecor’s performance. Desjardins raised its price target from C$43.00 to C$47.00 and issued a “buy” rating on October 9. Similarly, Scotiabank adjusted its price target from C$43.25 to C$43.50, maintaining a “sector perform” rating in a report on October 20. CIBC increased its target price from C$49.00 to C$54.00 on November 7, while TD Securities also raised its target from C$49.00 to C$52.00 and issued a “buy” rating on the same day. BMO Capital Markets further adjusted its price target from C$47.00 to C$53.00 on November 10.
Overall, four analysts have assigned Quebecor a “buy” rating, while three have issued a “hold” rating. According to MarketBeat, Quebecor currently holds a consensus rating of “Moderate Buy” with a consensus price target of C$49.86.
Recent Financial Performance
Quebecor released its quarterly earnings results on November 6, reporting earnings per share (EPS) of C$1.02 for the quarter. The company demonstrated a net margin of 12.99% and a return on equity of 37.44%. Revenue for the quarter stood at C$1.41 billion, highlighting the company’s robust financial health amidst market fluctuations.
About Quebecor
Quebecor primarily operates as a telecommunications provider in Quebec, where it holds a leading position in the industry. The company boasts over 1.8 million internet subscribers, covering more than 60% of the homes within its network. Additionally, Quebecor serves approximately 1.6 million mobile subscribers, accounting for more than 20% of the wireless market share in Quebec.
As the telecommunications landscape evolves, investors will be closely monitoring Quebecor’s strategies and market positioning to assess future performance.
