Cogeco Communications (TSE:CCA) Stock Price Target Lowered at National Bank Financial

Key Points

• National Bank Financial cut Cogeco Communications’ price target from C$69 to C$53 while maintaining a “sector perform” rating, implying roughly 0.4% downside from the reported share price.
• Several other analysts also lowered their targets; the stock carries a consensus “Hold” rating and an average price target of C$65.55.
• Shares traded at C$53.22, near the lower end of their 52-week range, while Cogeco reported C$2.05 in quarterly EPS and C$695.49 million in revenue.

Cogeco Communications (TSE:CCA - Get Free Report) had its target price cut by National Bank Financial from C$69.00 to C$53.00 in a report issued on Friday, BayStreet reports. The brokerage presently has a "sector perform" rating on the stock. National Bank Financial's price target indicates a potential downside of 0.41% from the stock's current price.

Other equities analysts also recently issued research reports about the company. Desjardins dropped their price target on Cogeco Communications from C$68.00 to C$64.00 and set a "hold" rating for the company in a research report on Wednesday, October 7th. Royal Bank Of Canada decreased their price objective on Cogeco Communications from C$74.00 to C$70.00 and set a "sector perform" rating on the stock in a research note on Friday, July 10th. Scotiabank dropped their price objective on Cogeco Communications from C$68.00 to C$64.50 and set a "sector perform" rating for the company in a research report on Tuesday, October 20th. Canaccord Genuity Group dropped their price objective on Cogeco Communications from C$68.00 to C$61.00 and set a "buy" rating for the company in a research report on Friday. Finally, Canadian Imperial Bank of Commerce cut their target price 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. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of C$65.55.

Cogeco Communications Price Performance

Shares of CCA stock traded down C$0.06 during trading hours on Friday, hitting C$53.22. The company's stock had a trading volume of 184,814 shares, compared to its average volume of 186,616. The business has a fifty day moving average of C$55.54 and a 200-day moving average of C$63.41. The stock has a market cap of C$2.24 billion, a price-to-earnings ratio of -2.01, a P/E/G ratio of 4.77 and a beta of 1.08. Cogeco Communications has a twelve month low of C$48.18 and a twelve month high of C$77.40. The company has a current ratio of 0.47, a quick ratio of 0.49 and a debt-to-equity ratio of 241.79.

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