News Flash: Analysts Just Made A Captivating Upgrade To Their Quebecor Inc. (TSE:QBR.A) Forecasts

Shareholders in Quebecor Inc. (TSE:QBR.A) may be thrilled to learn that the analysts have just delivered a major upgrade to their near-term forecasts. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects. The market seems to be pricing in some improvement in the business too, with the stock up 6.6% over the past week, closing at CA$33.18. It will be interesting to see if this latest upgrade is enough to kickstart further buying interest in the stock.

After this upgrade, Quebecor's eleven analysts are now forecasting revenues of CA$5.1b in 2023. This would be a meaningful 13% improvement in sales compared to the last 12 months. Before the latest update, the analysts were foreseeing CA$4.6b of revenue in 2023. The consensus has definitely become more optimistic, showing a nice gain to revenue forecasts.

Check out our latest analysis for Quebecor

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. It's clear from the latest estimates that Quebecor's rate of growth is expected to accelerate meaningfully, with the forecast 13% annualised revenue growth to the end of 2023 noticeably faster than its historical growth of 2.3% p.a. over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 1.0% per year. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Quebecor to grow faster than the wider industry.

The Bottom Line

The most important thing to take away from this upgrade is that analysts lifted their revenue estimates for this year. They're also forecasting more rapid revenue growth than the wider market. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at Quebecor.

But wait - there's more! We have analyst estimates for Quebecor going out to 2025, and you can see them free on our platform here.

Of course, seeing company management invest large sums of money in a stock can be just as useful as knowing whether analysts are upgrading their estimates. So you may also wish to search this free list of stocks that insiders are buying.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.