Canaccord Genuity Group Has Lowered Expectations for Cogeco Communications (TSE:CCA) Stock Price

Cogeco Communications (TSE:CCA) had its price target decreased by equities research analysts at Canaccord Genuity Group from C$68.00 to C$61.00 in a note issued to investors on Friday, BayStreet reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group‘s price objective would suggest a potential upside of 14.62% from the company’s current price.

Several other equities analysts have also issued reports on the stock. Canadian Imperial Bank of Commerce dropped their target price on shares of Cogeco Communications from C$71.00 to C$65.00 and set a “neutral” rating on the stock in a report on Thursday, October 8th. Desjardins lowered their price objective on Cogeco Communications from C$68.00 to C$64.00 and set a “hold” rating for the company in a research report on Wednesday, October 7th. Royal Bank Of Canada cut 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 research note on Friday, July 10th. Scotiabank lowered their target price on Cogeco Communications from C$68.00 to C$64.50 and set a “sector perform” rating on the stock in a research report on Tuesday, October 20th. Finally, National Bank Financial cut their price target 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 research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Cogeco Communications currently has a consensus rating of “Hold” and an average target price of C$65.55.

Cogeco Communications Trading Down 0.1%

CCA stock traded down C$0.06 during trading on Friday, hitting C$53.22. The company had a trading volume of 184,814 shares, compared to its average volume of 186,616. The business has a 50-day moving average of C$55.54 and a 200-day moving average of C$63.41. Cogeco Communications has a one year low of C$48.18 and a one year high of C$77.40. The stock has a market cap of C$2.24 billion, a PE ratio of -2.01, a PEG ratio of 4.77 and a beta of 1.08. 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 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 net margin of 39.56% and a negative return on equity of 38.76%. Research analysts predict that Cogeco Communications will post 8.49 earnings per share for the current fiscal 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.