Cogeco Communications (TSE:CCA) Rating Lowered to Sector Perform at National Bankshares

Key Points

• Cogeco Communications has been downgraded from "outperform" to "sector perform" by National Bankshares, with a revised price target of C$69.00, down from C$80.00.
• Other analysts have also adjusted their price targets, with BMO Capital Markets and Royal Bank of Canada both lowering theirs to C$75.00 and C$74.00 respectively.
• Despite recent downgrades, the stock has an average rating of "Moderate Buy" and a potential upside based on the current price, with an average target of C$75.67.

Cogeco Communications (TSE:CCA - Get Free Report) was downgraded by investment analysts at National Bankshares from an "outperform" rating to a "sector perform" rating in a research note issued to investors on Tuesday,BayStreet.CA reports. They currently have a C$69.00 target price on the stock, down from their previous target price of C$80.00. National Bankshares' price objective would suggest a potential upside of 8.88% from the stock's previous close.

Several other analysts also recently issued reports on CCA. BMO Capital Markets lowered their price objective on shares of Cogeco Communications from C$80.00 to C$75.00 in a research report on Thursday, July 17th. Desjardins increased their price objective on shares of Cogeco Communications from C$72.00 to C$74.00 in a research report on Thursday, July 10th. Scotiabank lowered their price objective on shares of Cogeco Communications from C$75.50 to C$75.00 and set a "sector perform" rating for the company in a research report on Thursday, July 17th. Finally, Royal Bank Of Canada lowered their price objective on shares of Cogeco Communications from C$75.00 to C$74.00 in a research report on Thursday, July 17th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of C$75.67.

Cogeco Communications Trading Up 1.0%

CCA traded up C$0.60 on Tuesday, reaching C$63.37. 40,299 shares of the company's stock were exchanged, compared to its average volume of 82,101. The company's 50 day moving average is C$67.16 and its 200-day moving average is C$66.62. The company has a market cap of C$2.66 billion, a price-to-earnings ratio of 7.67, a PEG ratio of 4.77 and a beta of 0.59. Cogeco Communications has a twelve month low of C$59.10 and a twelve month high of C$75.09. The company has a debt-to-equity ratio of 159.35, a quick ratio of 0.49 and a current ratio of 0.37.

Cogeco Communications Company Profile

Cogeco Communications Inc is a communication corporation. The company is a cable operator in North America operating in Canada. It provides residential and business customers with internet, video, and telephony services with broadband fibre networks. The reportable segments of the company are Canadian broadband services and American broadband services.