Cogeco Communications (TSE:CCA) Given New C$71.00 Price Target at Desjardins

Key Points

• Desjardins lowered its price target on Cogeco to C$71.00 and maintained a hold rating, implying roughly a 4.03% upside from the prior close.
• Analyst coverage is mixed with an average rating of Hold and an average price target of C$74.91; notable divergent moves include TD cutting its rating to hold (target down to C$85) while National Bank upgraded to outperform with a C$80 target.
• Shares traded down to C$68.25 (about -1.0%), valuing the company at C$2.87 billion with a PE of 9.34 and a 52‑week range of C$60.75–C$77.40.

Cogeco Communications (TSE:CCA - Get Free Report) had its target price dropped by analysts at Desjardins from C$72.00 to C$71.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. Desjardins' price objective indicates a potential upside of 4.03% from the stock's previous close.

Several other equities research analysts have also commented on the stock. Canadian Imperial Bank of Commerce increased their price objective on shares of Cogeco Communications from C$68.00 to C$71.00 in a research note on Friday, January 16th. Canaccord Genuity Group decreased their price objective on shares of Cogeco Communications from C$76.00 to C$74.00 and set a "buy" rating for the company in a research note on Monday. Scotiabank increased their price objective on shares of Cogeco Communications from C$74.00 to C$74.25 and gave the company a "sector perform" rating in a research note on Monday, January 12th. TD Securities lowered shares of Cogeco Communications from a "buy" rating to a "hold" rating and decreased their price objective for the company from C$100.00 to C$85.00 in a research note on Thursday, March 26th. Finally, National Bank Financial upgraded shares of Cogeco Communications from a "hold" rating to an "outperform" rating and increased their price objective for the company from C$71.00 to C$80.00 in a research note on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of C$74.91.

Cogeco Communications Stock Down 1.0%

TSE CCA traded down C$0.71 during trading hours on Tuesday, hitting C$68.25. The company's stock had a trading volume of 104,283 shares, compared to its average volume of 182,657. Cogeco Communications has a 52 week low of C$60.75 and a 52 week high of C$77.40. The company has a market capitalization of C$2.87 billion, a PE ratio of 9.34, a price-to-earnings-growth ratio of 4.77 and a beta of 0.89. The company has a current ratio of 0.40, a quick ratio of 0.49 and a debt-to-equity ratio of 143.75. The company's 50-day simple moving average is C$70.37 and its two-hundred day simple moving average is C$67.79.

Cogeco Communications (TSE:CCA - Get Free Report) last announced its quarterly earnings results on Wednesday, January 14th. The company reported C$2.11 earnings per share for the quarter. The business had revenue of C$707.25 million for the quarter. Cogeco Communications had a net margin of 10.79% and a return on equity of 9.79%. Research analysts anticipate that Cogeco Communications will post 8.4900498 EPS for the current fiscal year.

About Cogeco Communications

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. In internet services, the company offers internet packages with download speeds of up to 120mbps. In video services, the company provides digital tier services, pay-per-view channels, video on-demand services, and 4k television, and telephony services include using internet protocol to transport digitized voice signals.

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