Cogeco Communications (TSE:CCA) Stock Gets Price Target Trim from Desjardins

Cogeco Communications (TSE:CCA) had its price objective decreased by Desjardins from C$68.00 to C$64.00 in a research note published on Wednesday morning,BayStreet reports. Desjardins currently has a hold rating on the stock.

A number of other equities research analysts also recently commented on the company. Royal Bank Of Canada lowered their price objective on Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating for the company in a research report on Friday, July 10th. National Bank Financial dropped their target price on Cogeco Communications from C$70.00 to C$69.00 and set a “sector perform” rating for the company in a research note on Monday, August 31st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$72.00.

Cogeco Communications Price Performance

Shares of TSE:CCA opened at C$48.70 on Wednesday. The business’s fifty day moving average price is C$57.83 and its two-hundred day moving average price is C$62.28. The stock has a market cap of C$2.05 billion, a PE ratio of -1.84, a price-to-earnings-growth ratio of 4.77 and a beta of 1.08. The company has a debt-to-equity ratio of 241.79, a quick ratio of 0.49 and a current ratio of 0.47. Cogeco Communications has a one year low of C$48.67 and a one year high of C$77.40.

Cogeco Communications (TSE:CCA) last issued its quarterly earnings results on Wednesday, July 15th. The company reported C$2.35 EPS for the quarter. The business had revenue of C$696.68 million during the quarter. Cogeco Communications had a negative net margin of 39.56% and a negative return on equity of 38.76%. On average, analysts forecast that Cogeco Communications will post 8.49 EPS for the current fiscal year.

Cogeco Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, August 12th were given a dividend of $0.9870 per share. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $3.95 annualized dividend and a yield of 8.1%. Cogeco Communications’s dividend payout ratio is -14.69%.

Cogeco Communications Company Profile

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.