Cogeco Communications (TSE:CCA) Downgraded to “Hold” Rating by TD Securities

Cogeco Communications (TSE:CCA) was downgraded by analysts at TD Securities from a “buy” rating to a “hold” rating in a note issued to investors on Thursday,BayStreet.CA reports. They currently have a C$85.00 price target on the stock, down from their prior price target of C$100.00. TD Securities’ price objective would suggest a potential upside of 21.22% from the company’s current price.

CCA has been the topic of a number of other reports. Canadian Imperial Bank of Commerce raised their target price on Cogeco Communications from C$68.00 to C$71.00 in a research note on Friday, January 16th. Desjardins upgraded shares of Cogeco Communications to a “hold” rating in a research report on Wednesday, January 28th. National Bank Financial raised shares of Cogeco Communications from a “hold” rating to an “outperform” rating and boosted their target price for the company from C$71.00 to C$80.00 in a research note on Wednesday, February 25th. Finally, Scotiabank raised their price target on shares of Cogeco Communications from C$74.00 to C$74.25 and gave the company a “sector perform” rating in a research note on Monday, January 12th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$75.28.

Cogeco Communications Stock Performance

TSE CCA traded down C$6.67 during trading hours on Thursday, reaching C$70.12. The company’s stock had a trading volume of 228,088 shares, compared to its average volume of 187,666. The company has a current ratio of 0.40, a quick ratio of 0.49 and a debt-to-equity ratio of 143.75. The business has a 50-day simple moving average of C$70.66 and a 200 day simple moving average of C$67.52. Cogeco Communications has a 52 week low of C$60.75 and a 52 week high of C$77.40. The stock has a market cap of C$2.94 billion, a PE ratio of 9.59, a PEG ratio of 4.77 and a beta of 1.01.

Cogeco Communications (TSE:CCA) last posted its earnings results on Wednesday, January 14th. The company reported C$2.11 EPS for the quarter. The company had revenue of C$707.25 million during the quarter. Cogeco Communications had a return on equity of 9.79% and a net margin of 10.79%. Equities research analysts predict that Cogeco Communications will post 8.4900498 earnings per share for the current fiscal year.

About Cogeco Communications

Cogeco Communications Inc is a communication corporation. The company is a cable operator in North America operating in Canada. It provides residential and business customers with internet, video, and telephony services with broadband fibre networks. The reportable segments of the company are Canadian broadband services and American broadband services. In internet services, the company offers internet packages with download speeds of up to 120mbps. In video services, the company provides digital tier services, pay-per-view channels, video on-demand services, and 4k television, and telephony services include using internet protocol to transport digitized voice signals.