Cogeco (TSE:CGO) Stock Gets Price Target Reduction from Canadian Imperial Bank of Commerce

Cogeco (TSE:CGO) had its price target decreased by Canadian Imperial Bank of Commerce from C$67.00 to C$60.00 in a research report sent to investors on Thursday morning,BayStreet reports. Canadian Imperial Bank of Commerce currently has a neutral rating on the stock.

Cogeco Trading Down 6.2%

Shares of TSE:CGO opened at C$44.83 on Thursday. The business’s 50 day simple moving average is C$54.57 and its 200 day simple moving average is C$60.65. Cogeco has a 1 year low of C$44.21 and a 1 year high of C$77.04. The company has a debt-to-equity ratio of 961.67, a current ratio of 0.49 and a quick ratio of 0.51. The company has a market capitalization of C$424.54 million, a P/E ratio of -1.24, a P/E/G ratio of -0.28 and a beta of 0.92.

Cogeco (TSE:CGO) last released its earnings results on Wednesday, July 15th. The company reported C$3.10 earnings per share for the quarter. Cogeco had a negative return on equity of 43.86% and a negative net margin of 11.78%. The firm had revenue of C$724.17 million during the quarter. On average, research analysts anticipate that Cogeco will post 11.05 EPS for the current fiscal year.

About Cogeco

Cogeco Inc is a North American leader in the telecommunications and media sectors. Through Cogeco Communications Inc, 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. Through Cogeco Media, we operate 21 radio stations in Canada, primarily in the province of Quebec, as well as a news agency. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.