Royal Bank of Canada Upgrades Quebecor (TSE:QBR) to “Moderate Buy”

Royal Bank of Canada upgraded shares of Quebecor (TSE:QBR) from a hold rating to a moderate buy rating in a research report sent to investors on Wednesday,Zacks.com reports.

Separately, Scotiabank cut Quebecor from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th.

Quebecor Price Performance

Quebecor (TSE:QBR) last issued its quarterly earnings results on Thursday, November 7th. The company reported C$0.82 earnings per share for the quarter, missing the consensus estimate of C$0.83 by C($0.01). The firm had revenue of C$1.39 billion for the quarter, compared to the consensus estimate of C$1.41 billion.

Quebecor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Friday, November 22nd were paid a $0.325 dividend. The ex-dividend date was Friday, November 22nd. This represents a $1.30 annualized dividend and a yield of ∞.

Quebecor Company Profile

Quebecor Inc, together with its subsidiaries, operates in the telecommunications, media, and sports and entertainment businesses in Canada. Its Telecommunications segment offers television distribution, Internet access, wireline and mobile telephony, business solutions, and over-the-top video services; and Helix, a technology platform that provides entertainment and home management with features, including voice remote, ultra-intelligent Wi-Fi, and support for home automation.