Cogeco Communications (TSE:CCA) Price Target Lowered to C$70.00 at Canaccord Genuity Group

Key Points

• Canaccord Genuity cut its price target on Cogeco Communications from C$74.00 to C$70.00 while retaining a "buy" rating, which it says implies roughly a 12.6% upside from the stock's current level.
• Analyst views are mixed — three analysts rate the stock a Buy and four a Hold, leaving a consensus rating of Hold with a consensus price target of C$75.11.
• Shares traded at C$62.16 on Monday (50‑day MA C$70.36, 200‑day MA C$67.84); the company reported quarterly EPS of C$1.96, has a PE of 8.35 and a market cap of C$2.61 billion.

Cogeco Communications (TSE:CCA - Get Free Report) had its price target lowered by equities research analysts at Canaccord Genuity Group from C$74.00 to C$70.00 in a report issued on Monday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective indicates a potential upside of 12.61% from the stock's current price.

A number of other brokerages have also weighed in on CCA. Desjardins reduced 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 research note on Monday. Scotiabank upped their price target on shares of Cogeco Communications from C$74.00 to C$74.25 and gave the stock a "sector perform" rating in a research note on Monday, January 12th. TD raised shares of Cogeco Communications from a "hold" rating to a "buy" rating and cut their target price for the company from C$85.00 to C$83.00 in a research note on Monday. Royal Bank Of Canada increased their target price on shares of Cogeco Communications from C$76.00 to C$77.00 and gave the company a "sector perform" rating in a research note on Thursday. Finally, TD Securities lowered shares of Cogeco Communications from a "buy" rating to a "hold" rating and cut their target price for the company from C$100.00 to C$85.00 in a research note on Thursday, March 26th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of C$75.11.

Cogeco Communications Price Performance

Shares of TSE:CCA traded up C$0.76 during trading on Monday, reaching C$62.16. The company had a trading volume of 291,579 shares, compared to its average volume of 197,754. The firm's fifty day moving average is C$70.36 and its 200 day moving average is C$67.84. The firm has a market capitalization of C$2.61 billion, a PE ratio of 8.35, a price-to-earnings-growth ratio of 4.77 and a beta of 0.89. Cogeco Communications has a twelve month low of C$60.89 and a twelve month high of C$77.40. The company has a debt-to-equity ratio of 141.57, a quick ratio of 0.49 and a current ratio of 0.47.

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