Cogeco Communications (TSE:CCA) Stock Gets Price Target Cut from Desjardins

by · The Cerbat Gem

Cogeco Communications (TSE:CCA – Free Report) had its price objective reduced by Desjardins from C$64.00 to C$53.00 in a research note issued to investors on Friday,BayStreet reports. Desjardins currently has a hold rating on the stock.

Several other research analysts have also issued reports on the stock. Canadian Imperial Bank of Commerce decreased their price target on shares of Cogeco Communications from C$71.00 to C$65.00 and set a “neutral” rating for the company in a research note on Thursday, October 8th. National Bank Financial lowered their price target on Cogeco Communications from C$69.00 to C$53.00 and set a “sector perform” rating on the stock in a report on Friday. BMO Capital Markets lowered their price target on Cogeco Communications from C$65.00 to C$60.00 and set a “market perform” rating for the company in a research report on Friday. TD lowered their price target on shares of Cogeco Communications from C$83.00 to C$81.00 and set a “buy” rating for the company in a research report on Friday. Finally, Scotiabank lowered their price objective on shares of Cogeco Communications from C$68.00 to C$64.50 and set a “sector perform” rating for the company in a research note on Tuesday, October 20th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Cogeco Communications currently has an average rating of “Hold” and an average target price of C$65.55.

View Our Latest Stock Analysis on CCA

Cogeco Communications Stock Performance

Shares of CCA opened at C$53.17 on Friday. The company has a market cap of C$2.23 billion, a PE ratio of -2.01, a P/E/G ratio of 4.77 and a beta of 1.08. The company has a debt-to-equity ratio of 229.76, a current ratio of 0.59 and a quick ratio of 0.49. Cogeco Communications has a one year low of C$48.18 and a one year high of C$77.40. The stock has a 50-day moving average of C$55.41 and a 200-day moving average of C$63.34.

Cogeco Communications (TSE:CCA – Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported C$2.05 earnings per share for the quarter. Cogeco Communications had a negative net margin of 39.55% and a negative return on equity of 43.35%. The company had revenue of C$695.49 million during the quarter. On average, equities research analysts predict that Cogeco Communications will post 8.49 EPS for the current fiscal year.

Key Stories Impacting Cogeco Communications

Here are the key news stories impacting Cogeco Communications this week:

  • Positive Sentiment: TD maintained a Buy rating and continues to see substantial upside, despite lowering its price target to C$81 from C$83. TD analyst rating
  • Positive Sentiment: Canaccord Genuity also retained a Buy rating, reducing its target to C$61 from C$68. The revised target still implies potential appreciation from current levels. Canaccord Genuity analyst rating
  • Neutral Sentiment: Scotia lowered its target to C$63 from C$64 while maintaining a Sector Perform rating. BMO Capital Markets cut its target to C$60 from C$65 and kept a Market Perform rating, signaling limited near-term conviction. Scotia analyst rating
  • Negative Sentiment: Cogeco reported lower fourth-quarter adjusted earnings and revenue. Reported quarterly EPS was C$2.05 on revenue of C$695.49 million, while the company posted a negative net margin of 39.56% and negative return on equity of 38.76%. Cogeco Communications reports lower Q4 adjusted earnings and revenue
  • Negative Sentiment: National Bank Financial cut its target sharply to C$53 from C$69 and assigned a Sector Perform rating. Desjardins reduced its target to C$53 from C$64 and maintained a Hold rating, leaving little implied upside. Desjardins analyst rating

About Cogeco Communications

(Get Free Report)

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.

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