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

Key Points

• Desjardins cut Cogeco Communications’ price target from C$68 to C$64 while maintaining a “hold” rating, implying 22.53% potential upside from the prior close.
• Other analysts have also lowered their targets, though the stock retains an overall “Moderate Buy” consensus with an average target of C$72.67.
• Shares traded at C$52.23, near their 52-week low of C$50.96, while the company reported C$2.35 in quarterly EPS and C$696.68 million in revenue.

Cogeco Communications (TSE:CCA - Get Free Report) had its target price cut by stock analysts at Desjardins from C$68.00 to C$64.00 in a report released on Wednesday, BayStreet reports. The brokerage presently has a "hold" rating on the stock. Desjardins' price target would indicate a potential upside of 22.53% from the company's previous close.

Several other equities analysts have also recently weighed in on CCA. National Bank Financial lowered their price objective on shares of Cogeco Communications from C$70.00 to C$69.00 and set a "sector perform" rating on the stock in a research note on Monday, August 31st. Royal Bank Of Canada reduced their target price on shares of Cogeco Communications from C$74.00 to C$70.00 and set a "sector perform" rating for the company in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Cogeco Communications presently has an average rating of "Moderate Buy" and an average target price of C$72.67.

Cogeco Communications Stock Performance

CCA traded up C$0.41 during mid-day trading on Wednesday, reaching C$52.23. 149,433 shares of the company traded hands, compared to its average volume of 179,077. The stock has a market capitalization of C$2.19 billion, a P/E ratio of -1.98, a P/E/G ratio of 4.77 and a beta of 1.08. The company has a quick ratio of 0.49, a current ratio of 0.47 and a debt-to-equity ratio of 241.79. The company's fifty day moving average price is C$58.38 and its 200-day moving average price is C$62.68. Cogeco Communications has a 52-week low of C$50.96 and a 52-week high of C$77.40.

Cogeco Communications (TSE:CCA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 15th. The company reported C$2.35 EPS for the quarter. The company had revenue of C$696.68 million during the quarter. Cogeco Communications had a negative return on equity of 38.76% and a negative net margin of 39.56%. On average, sell-side analysts expect that Cogeco Communications will post 8.4900498 EPS for the current 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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