Cogeco Communications (TSE:CCA) Price Target Cut to C$81.00 by Analysts at TD

Key Points

• TD cut Cogeco Communications’ price target from C$83 to C$81 but maintained a “buy” rating, implying 52.2% upside from the previous close.
• Analyst sentiment is mixed: the stock has a consensus “hold” rating and an average target of C$65.55, with several brokerages recently lowering their targets.
• Cogeco shares traded near C$53.22, close to the lower end of their C$48.18–C$77.40 yearly range. The company reported C$2.05 in quarterly EPS and C$695.49 million in revenue, but posted negative net margins and return on equity.

Cogeco Communications (TSE:CCA - Get Free Report) had its price objective decreased by TD from C$83.00 to C$81.00 in a report released on Friday, BayStreet reports. The brokerage currently has a "buy" rating on the stock. TD's price target suggests a potential upside of 52.20% from the stock's previous close.

CCA has been the topic of a number of other research reports. Royal Bank Of Canada lowered their price target on Cogeco Communications from C$74.00 to C$70.00 and set a "sector perform" rating on the stock in a research report on Friday, July 10th. BMO Capital Markets dropped their target price 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. National Bank Financial cut their target price on Cogeco Communications from C$69.00 to C$53.00 and set a "sector perform" rating for the company in a research note on Friday. Canaccord Genuity Group reduced their price target on shares of Cogeco Communications from C$68.00 to C$61.00 and set a "buy" rating on the stock in a research report on Friday. Finally, Desjardins decreased their price target on shares of Cogeco Communications from C$68.00 to C$64.00 and set a "hold" rating on the stock in a research note on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of C$65.55.

Cogeco Communications Price Performance

Cogeco Communications stock traded down C$0.06 during mid-day trading on Friday, hitting C$53.22. 184,814 shares of the company traded hands, compared to its average volume of 186,616. The company has a debt-to-equity ratio of 241.79, a quick ratio of 0.49 and a current ratio of 0.47. Cogeco Communications has a one year low of C$48.18 and a one year high of C$77.40. The stock has a market cap of C$2.24 billion, a price-to-earnings ratio of -2.01, a price-to-earnings-growth ratio of 4.77 and a beta of 1.08. The stock has a fifty day moving average price of C$55.54 and a 200-day moving average price of C$63.41.

Cogeco Communications (TSE:CCA - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported C$2.05 earnings per share for the quarter. Cogeco Communications had a negative net margin of 39.56% and a negative return on equity of 38.76%. The firm had revenue of C$695.49 million for the quarter. On average, equities analysts predict that Cogeco Communications will post 8.49 earnings per share for the current fiscal year.

Cogeco Communications Company Profile

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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