Cogeco Communications Inc. Expected to Earn Q3 2024 Earnings of $1.61 Per Share (TSE:CCA)

Cogeco Communications Inc. (TSE:CCA) – Equities researchers at Desjardins cut their Q3 2024 EPS estimates for shares of Cogeco Communications in a research note issued to investors on Monday, April 15th. Desjardins analyst J. Dubreuil now forecasts that the company will earn $1.61 per share for the quarter, down from their prior forecast of $2.02. Desjardins currently has a “Hold” rating and a $64.00 price target on the stock. The consensus estimate for Cogeco Communications’ current full-year earnings is $8.48 per share. Desjardins also issued estimates for Cogeco Communications’ Q4 2024 earnings at $1.68 EPS, FY2024 earnings at $7.50 EPS and FY2025 earnings at $6.73 EPS.

A number of other analysts have also weighed in on the stock. Scotiabank reduced their price target on shares of Cogeco Communications from C$77.00 to C$73.50 and set a “sector perform” rating for the company in a research note on Monday. Canaccord Genuity Group cut their target price on shares of Cogeco Communications from C$63.00 to C$60.00 and set a “hold” rating for the company in a research note on Monday. TD Securities cut their target price on shares of Cogeco Communications from C$93.00 to C$90.00 and set a “buy” rating for the company in a research note on Monday. Royal Bank of Canada increased their target price on shares of Cogeco Communications from C$76.00 to C$79.00 and gave the company a “sector perform” rating in a research note on Tuesday. Finally, BMO Capital Markets increased their target price on shares of Cogeco Communications from C$64.00 to C$65.00 and gave the company a “market perform” rating in a research note on Friday, January 12th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$69.69.

Cogeco Communications Price Performance

Shares of TSE:CCA traded down C$0.75 during trading on Wednesday, reaching C$55.70. The company had a trading volume of 30,916 shares, compared to its average volume of 99,204. The firm’s fifty day moving average is C$59.71 and its 200 day moving average is C$58.44. The firm has a market capitalization of C$1.68 billion, a PE ratio of 6.69, a price-to-earnings-growth ratio of 4.77 and a beta of 0.47. Cogeco Communications has a twelve month low of C$50.78 and a twelve month high of C$72.56. The company has a debt-to-equity ratio of 136.39, a quick ratio of 0.49 and a current ratio of 0.59.

Cogeco Communications (TSE:CCA) last posted its earnings results on Thursday, April 11th. The company reported C$2.21 EPS for the quarter, topping the consensus estimate of C$1.88 by C$0.33. Cogeco Communications had a net margin of 12.47% and a return on equity of 11.58%. The firm had revenue of C$730.50 million during the quarter, compared to analysts’ expectations of C$735.00 million.

Cogeco Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Thursday, April 25th will be paid a $0.854 dividend. The ex-dividend date is Wednesday, April 24th. This represents a $3.42 annualized dividend and a yield of 6.13%. Cogeco Communications’s dividend payout ratio is presently 41.11%.

About Cogeco Communications

Cogeco Communications Inc operates as a telecommunications corporation in Canada and the United States. It operates in two segments, Canadian Telecommunications and American Telecommunications. The company offers Internet, video, and Internet protocol (IP) based telephony services to residential and small business customers through its two-way broadband fiber networks.