Cormark Has Negative Forecast for Quebecor FY2024 Earnings

Quebecor (TSE:QBR) – Analysts at Cormark dropped their FY2024 earnings estimates for Quebecor in a report issued on Friday, November 8th. Cormark analyst D. Mcfadgen now expects that the company will post earnings of $3.11 per share for the year, down from their previous forecast of $3.28. Cormark also issued estimates for Quebecor’s FY2025 earnings at $3.05 EPS.

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

Quebecor Price Performance

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

Quebecor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 22nd will be given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of ∞. The ex-dividend date is Friday, November 22nd.

About Quebecor

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.