Cogeco Communications (TSE:CCA) Stock Price Target Cut by Desjardins

Cogeco Communications (TSE:CCA) had its price objective lowered by analysts at Desjardins from C$64.00 to C$53.00 in a research note issued on Friday, BayStreet reports. The firm currently has a “hold” rating on the stock. Desjardins‘s price objective would suggest a potential downside of 0.41% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Canaccord Genuity Group decreased their target price on Cogeco Communications from C$68.00 to C$61.00 and set a “buy” rating for the company in a research report on Friday. Canadian Imperial Bank of Commerce dropped their price target on Cogeco Communications from C$71.00 to C$65.00 and set a “neutral” rating on the stock in a research report on Thursday, October 8th. National Bank Financial decreased their price objective on Cogeco Communications from C$69.00 to C$53.00 and set a “sector perform” rating for the company in a report on Friday. BMO Capital Markets lowered their price objective on shares of Cogeco Communications from C$65.00 to C$60.00 and set a “market perform” rating for the company in a research note on Friday. Finally, Royal Bank Of Canada dropped their target price on shares of Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating on the stock in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Cogeco Communications has a consensus rating of “Hold” and an average target price of C$65.55.

Cogeco Communications Trading Down 0.1%

Shares of TSE:CCA traded down C$0.06 during trading on Friday, reaching C$53.22. 184,814 shares of the company were exchanged, compared to its average volume of 186,616. The firm has a market capitalization of C$2.24 billion, a PE ratio of -2.01, a P/E/G ratio of 4.77 and a beta of 1.08. The business’s fifty day simple moving average is C$55.54 and its 200-day simple moving average is C$63.41. Cogeco Communications has a 12-month low of C$48.18 and a 12-month high of C$77.40. The company has a debt-to-equity ratio of 241.79, a current ratio of 0.47 and a quick ratio of 0.49.

Cogeco Communications (TSE:CCA) last announced its quarterly earnings results on Thursday, October 29th. The company reported C$2.05 earnings per share (EPS) for the quarter. The firm had revenue of C$695.49 million during the quarter. Cogeco Communications had a negative return on equity of 38.76% and a negative net margin of 39.56%. On average, research analysts anticipate that Cogeco Communications will post 8.49 EPS for the current year.

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.