Cormark Has Pessimistic Outlook of Quebecor FY2024 Earnings

Quebecor (TSE:QBR) – Investment analysts at Cormark decreased their FY2024 EPS estimates for Quebecor in a research note issued to investors on Thursday, October 31st. Cormark analyst D. Mcfadgen now forecasts that the company will earn $3.28 per share for the year, down from their prior estimate of $3.29.

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

Quebecor Stock Performance

Quebecor (TSE:QBR) last announced its earnings results on Thursday, August 8th. The company reported C$0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.84 by C$0.05. The company had revenue of C$1.39 billion for the quarter, compared to the consensus estimate of C$1.43 billion.

Quebecor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 23rd were given a $0.325 dividend. The ex-dividend date was Friday, August 23rd. This represents a $1.30 dividend on an annualized basis 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.