Cogeco Communications (TSE:CCA) Given New C$70.00 Price Target at Royal Bank Of Canada

Cogeco Communications (TSE:CCA) had its price objective decreased by equities researchers at Royal Bank Of Canada from C$74.00 to C$70.00 in a research report issued on Friday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 10.17% from the company’s previous close.

CCA has been the topic of a number of other research reports. Canaccord Genuity Group dropped their price objective on Cogeco Communications from C$74.00 to C$70.00 and set a “buy” rating on the stock in a report on Monday, April 13th. TD Securities upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. TD upgraded shares of Cogeco Communications from a “hold” rating to a “buy” rating and reduced their target price for the company from C$85.00 to C$83.00 in a research note on Monday, April 13th. Scotiabank lowered their price target on shares of Cogeco Communications from C$74.25 to C$72.00 and set a “sector perform” rating on the stock in a report on Monday, April 13th. Finally, Desjardins cut their target price on Cogeco Communications from C$71.00 to C$68.00 and set a “hold” rating for the company in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cogeco Communications currently has a consensus rating of “Moderate Buy” and an average target price of C$74.33.

Cogeco Communications Price Performance

Shares of TSE:CCA traded up C$0.06 on Friday, reaching C$63.54. 27,431 shares of the company traded hands, compared to its average volume of 184,009. The company has a debt-to-equity ratio of 141.57, a current ratio of 0.47 and a quick ratio of 0.49. Cogeco Communications has a fifty-two week low of C$60.89 and a fifty-two week high of C$77.40. The stock has a market capitalization of C$2.67 billion, a PE ratio of 8.54, a P/E/G ratio of 4.77 and a beta of 0.93. The company’s 50 day moving average is C$64.32 and its 200-day moving average is C$67.12.

Cogeco Communications (TSE:CCA) last posted its quarterly earnings results on Thursday, April 9th. The company reported C$1.96 earnings per share for the quarter. The firm had revenue of C$693.56 million for the quarter. Cogeco Communications had a return on equity of 9.93% and a net margin of 11.13%. As a group, analysts anticipate that Cogeco Communications will post 8.4900498 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.