National Bank Financial Issues Pessimistic Forecast for Cogeco Communications (TSE:CCA) Stock Price

Key Points

• National Bank Financial lowered Cogeco Communications’ price target from C$70 to C$69 while maintaining a “sector perform” rating, implying 15.52% potential upside from the current price.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and average target of C$73.11; ratings include one Strong Buy, two Buys, and four Holds.
• Cogeco shares closed at C$59.73, near their 52-week low, while the company reported C$2.35 in quarterly EPS and C$696.68 million in revenue. Its balance sheet metrics include high debt-to-equity and negative net margin and return on equity.

Cogeco Communications (TSE:CCA - Get Free Report) had its target price lowered by analysts at National Bank Financial from C$70.00 to C$69.00 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. National Bank Financial's price objective points to a potential upside of 15.52% from the stock's current price.

Several other brokerages have also issued reports on CCA. Desjardins set a C$68.00 target price on shares of Cogeco Communications and gave the company a "hold" rating in a research report on Wednesday, July 15th. Royal Bank Of Canada reduced their price target on shares of Cogeco Communications from C$74.00 to C$70.00 and set a "sector perform" rating for the company in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$73.11.

Cogeco Communications Price Performance

Shares of Cogeco Communications stock traded down C$0.31 on Monday, hitting C$59.73. The company's stock had a trading volume of 37,093 shares, compared to its average volume of 178,926. The company has a market capitalization of C$2.51 billion, a price-to-earnings ratio of -2.26, a price-to-earnings-growth ratio of 4.77 and a beta of 0.94. Cogeco Communications has a 1 year low of C$58.42 and a 1 year high of C$77.40. The company has a debt-to-equity ratio of 241.79, a quick ratio of 0.49 and a current ratio of 0.47. The firm has a fifty day moving average price of C$61.87 and a 200-day moving average price of C$65.43.

Cogeco Communications (TSE:CCA - Get Free Report) last issued 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 for the quarter. Cogeco Communications had a negative return on equity of 38.76% and a negative net margin of 39.56%. As a group, sell-side analysts anticipate that Cogeco Communications will post 8.4900498 earnings per share for the current fiscal year.

About Cogeco Communications

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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