Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

Quebecor's Efforts To Improve Growth And Margins Not Fully Rewarded

Even though trading Canadian stocks has gotten quite a bit easier in recent years, a lot of Canadian companies don't really get the sort of attention you might expect if they were a U.S. company. Quebecor (OTCPK:QBCRF) (QBR-B.TO) looks like a good case in point, as this large Montreal-based media holding company is all but unknown to many American investors.

With their high debt levels and distant free cash flow streams, media and communications companies can be tricky to value and Quebecor is no exception. I do like the company's efforts to reduce its exposure to the low margin and declining newspaper business, as well as the company's willingness to let BCE's (NYSE:BCE) Bell Canada...

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