Cogeco Communications (TSE:CCA) Price Target Raised to C$77.00

Key Points

• Royal Bank of Canada raised its price target on Cogeco Communications to C$77.00 (from C$76.00) and maintained a "sector perform" rating, implying roughly a 15.53% upside from the current price.
• Analyst consensus remains a Hold (2 Buy, 4 Hold) with an average price target of C$75.28, reflecting mixed sentiment among brokers.
• Shares traded at C$66.65 (down ~2.2%), with a 52-week range of C$60.75–C$77.40; recent quarterly results showed EPS of C$2.11 on C$707.25M revenue, while valuation/financial metrics include a market cap of C$2.80B, P/E of 9.12 and a high debt-to-equity ratio of 143.75.

Cogeco Communications (TSE:CCA - Get Free Report) had its price target boosted by analysts at Royal Bank Of Canada from C$76.00 to C$77.00 in a research report issued on Thursday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target would suggest a potential upside of 15.53% from the company's current price.

Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity Group decreased their price objective on Cogeco Communications from C$76.00 to C$74.00 and set a "buy" rating on the stock in a report on Monday. Scotiabank raised their price objective on Cogeco Communications from C$74.00 to C$74.25 and gave the stock a "sector perform" rating in a report on Monday, January 12th. Canadian Imperial Bank of Commerce raised their price objective on Cogeco Communications from C$68.00 to C$71.00 in a report on Friday, January 16th. TD Securities cut Cogeco Communications from a "buy" rating to a "hold" rating and decreased their price objective for the stock from C$100.00 to C$85.00 in a report on Thursday, March 26th. Finally, Desjardins decreased their price objective on Cogeco Communications from C$72.00 to C$71.00 and set a "hold" rating on the stock in a report on Tuesday. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of C$75.28.

Cogeco Communications Trading Down 2.2%

Shares of CCA stock traded down C$1.47 during mid-day trading on Thursday, hitting C$66.65. 126,403 shares of the company's stock were exchanged, compared to its average volume of 182,041. Cogeco Communications has a fifty-two week low of C$60.75 and a fifty-two week high of C$77.40. The stock has a 50-day simple moving average of C$70.42 and a two-hundred day simple moving average of C$67.81. The company has a quick ratio of 0.49, a current ratio of 0.40 and a debt-to-equity ratio of 143.75. The stock has a market cap of C$2.80 billion, a price-to-earnings ratio of 9.12, a PEG ratio of 4.77 and a beta of 0.89.

Cogeco Communications (TSE:CCA - Get Free Report) last posted its quarterly earnings data on Wednesday, January 14th. The company reported C$2.11 earnings per share (EPS) for the quarter. Cogeco Communications had a return on equity of 9.79% and a net margin of 10.79%.The business had revenue of C$707.25 million for the quarter. Equities analysts expect 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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