Cogeco Communications (TSE:CCA) Price Target Cut to C$80.00

Cogeco Communications (TSE:CCA) had its price objective cut by research analysts at TD Securities from C$90.00 to C$80.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ target price indicates a potential upside of 50.21% from the stock’s previous close.

Several other brokerages also recently weighed in on CCA. Canaccord Genuity Group reduced their price target on Cogeco Communications from C$63.00 to C$60.00 and set a “hold” rating for the company in a report on Monday, April 15th. Royal Bank of Canada increased their price objective on shares of Cogeco Communications from C$76.00 to C$79.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 16th. Scotiabank cut their price objective on shares of Cogeco Communications from C$77.00 to C$73.50 and set a “sector perform” rating for the company in a report on Monday, April 15th. Finally, Desjardins decreased their target price on Cogeco Communications from C$68.00 to C$64.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Cogeco Communications currently has a consensus rating of “Hold” and an average target price of C$68.44.

Cogeco Communications Stock Down 0.6 %

TSE CCA traded down C$0.34 on Wednesday, reaching C$53.26. The company had a trading volume of 17,574 shares, compared to its average volume of 87,102. Cogeco Communications has a 52-week low of C$50.78 and a 52-week high of C$72.56. The stock has a market capitalization of C$1.61 billion, a P/E ratio of 6.41, a P/E/G ratio of 4.77 and a beta of 0.47. The company’s fifty day moving average is C$56.13 and its 200 day moving average is C$58.03. The company has a quick ratio of 0.49, a current ratio of 0.55 and a debt-to-equity ratio of 143.84.

Cogeco Communications (TSE:CCA) last posted its earnings results on Thursday, April 11th. The company reported C$2.21 earnings per share for the quarter, topping the consensus estimate of C$1.88 by C$0.33. Cogeco Communications had a net margin of 12.34% and a return on equity of 11.41%. The firm had revenue of C$730.50 million during the quarter, compared to the consensus estimate of C$735.00 million. Sell-side analysts anticipate that Cogeco Communications will post 8.341791 earnings per share for the current fiscal year.

Cogeco Communications Company Profile

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.