Desjardins Analysts Give Cogeco Communications (TSE:CCA) a C$68.00 Price Target

Desjardins set a C$68.00 price target on Cogeco Communications (TSE:CCA) in a report issued on Wednesday morning,BayStreet.CA reports. The firm currently has a hold rating on the stock.

A number of other brokerages have also commented on CCA. Canaccord Genuity Group cut their price objective on shares of Cogeco Communications from C$74.00 to C$70.00 and set a “buy” rating for the company in a research report on Monday, April 13th. Royal Bank Of Canada decreased their target price on Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating on the stock in a research report on Friday, July 10th. TD Securities upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Scotiabank cut their price target on Cogeco Communications from C$74.25 to C$72.00 and set a “sector perform” rating for the company in a report on Monday, April 13th. Finally, TD upgraded Cogeco Communications from a “hold” rating to a “buy” rating and reduced their price objective for the stock from C$85.00 to C$83.00 in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$73.22.

Cogeco Communications Trading Up 1.0%

Shares of CCA stock opened at C$63.31 on Wednesday. Cogeco Communications has a 1 year low of C$60.89 and a 1 year high of C$77.40. The firm’s fifty day simple moving average is C$64.36 and its 200 day simple moving average is C$67.00. The firm has a market capitalization of C$2.66 billion, a P/E ratio of 8.51, a price-to-earnings-growth ratio of 4.77 and a beta of 0.93. The company has a current ratio of 0.47, a quick ratio of 0.49 and a debt-to-equity ratio of 241.79.

Cogeco Communications (TSE:CCA) last released its earnings results on Wednesday, July 15th. The company reported C$2.35 EPS for the quarter. Cogeco Communications had a negative net margin of 39.56% and a negative return on equity of 38.76%. The firm had revenue of C$696.68 million during the quarter. As a group, sell-side analysts predict that Cogeco Communications will post 8.4900498 EPS for the current year.

Cogeco Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 7th. Stockholders of record on Thursday, May 7th were issued a dividend of $0.987 per share. This represents a $3.95 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend was Thursday, April 23rd. Cogeco Communications’s dividend payout ratio (DPR) is presently 51.32%.

About Cogeco Communications

Cogeco Communications Inc is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.