Cogeco Communications (TSE:CCA) Given New C$72.00 Price Target at Scotiabank

Key Points

• Scotiabank lowered its price target on Cogeco Communications to C$72.00 from C$74.25 and maintained a "sector perform" rating, implying roughly a 15.8% upside from the stock's current price.
• Overall analyst sentiment is a consensus Hold (three Buys, four Holds) with a consensus target of C$75.11; the stock trades around C$62.16, recently reported quarterly EPS of C$1.96, and sits at a P/E of 8.35.

Cogeco Communications (TSE:CCA - Get Free Report) had its price target dropped by investment analysts at Scotiabank from C$74.25 to C$72.00 in a report released on Monday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. Scotiabank's price target suggests a potential upside of 15.83% from the stock's current price.

Several other research analysts have also issued reports on the stock. National Bank Financial upgraded shares of Cogeco Communications from a "hold" rating to an "outperform" rating and raised their price target for the stock from C$71.00 to C$80.00 in a report on Wednesday, February 25th. Desjardins lowered their price target on shares of Cogeco Communications from C$71.00 to C$68.00 and set a "hold" rating for the company in a report on Monday. TD upgraded shares of Cogeco Communications from a "hold" rating to a "buy" rating and lowered their price target for the stock from C$85.00 to C$83.00 in a report on Monday. Canadian Imperial Bank of Commerce raised their price target on shares of Cogeco Communications from C$68.00 to C$71.00 in a report on Friday, January 16th. Finally, TD Securities lowered shares of Cogeco Communications from a "buy" rating to a "hold" rating and lowered their price target for the stock from C$100.00 to C$85.00 in a report on Thursday, March 26th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of C$75.11.

Cogeco Communications Trading Up 1.2%

Cogeco Communications stock traded up C$0.76 during mid-day trading on Monday, hitting C$62.16. 291,579 shares of the stock were exchanged, compared to its average volume of 197,754. The company has a quick ratio of 0.49, a current ratio of 0.47 and a debt-to-equity ratio of 141.57. Cogeco Communications has a 12 month low of C$60.89 and a 12 month high of C$77.40. The firm's fifty day simple moving average is C$70.36 and its two-hundred day simple moving average is C$67.84. The stock has a market capitalization of C$2.61 billion, a price-to-earnings ratio of 8.35, a PEG ratio of 4.77 and a beta of 0.89.

Cogeco Communications (TSE:CCA - Get Free Report) last released its quarterly earnings results on Thursday, April 9th. The company reported C$1.96 earnings per share (EPS) for the quarter. Cogeco Communications had a net margin of 11.13% and a return on equity of 9.93%. The firm had revenue of C$693.56 million during the quarter. Analysts forecast 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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