Cogeco Communications (TSE:CCA) Rating Increased to Buy at TD

Key Points

• TD Securities upgraded Cogeco Communications from a "hold" to a buy and set a C$83.00 price target (from C$85.00), implying about a 33.53% upside from the stock's current level.
• Analyst coverage is mixed — three Buy ratings and four Hold ratings — leaving a MarketBeat consensus of "Hold" with a consensus target price of C$75.11.
• CCA recently traded at C$62.16, has a market cap of C$2.61 billion and a P/E of 8.35, and reported Q results with EPS of C$1.96 on revenue of C$693.56 million.

Cogeco Communications (TSE:CCA - Get Free Report) was upgraded by equities researchers at TD from a "hold" rating to a "buy" rating in a report issued on Monday,BayStreet.CA reports. The brokerage currently has a C$83.00 price target on the stock, down from their previous price target of C$85.00. TD's price target points to a potential upside of 33.53% from the stock's current price.

Other equities research analysts have also recently issued reports about the company. Royal Bank Of Canada lifted their price objective on Cogeco Communications from C$76.00 to C$77.00 and gave the stock a "sector perform" rating in a report on Thursday. Desjardins lowered their price objective on Cogeco Communications from C$71.00 to C$68.00 and set a "hold" rating on the stock in a report on Monday. Canadian Imperial Bank of Commerce lifted their price objective on Cogeco Communications from C$68.00 to C$71.00 in a report on Friday, January 16th. National Bank Financial upgraded Cogeco Communications from a "hold" rating to an "outperform" rating and lifted their price objective for the stock from C$71.00 to C$80.00 in a report on Wednesday, February 25th. Finally, Canaccord Genuity Group lowered their target price on Cogeco Communications from C$76.00 to C$74.00 and set a "buy" rating on the stock in a report on Monday, April 6th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of C$75.11.

Cogeco Communications Price Performance

CCA stock traded up C$0.76 during trading on Monday, hitting C$62.16. The stock had a trading volume of 291,579 shares, compared to its average volume of 197,754. The company has a debt-to-equity ratio of 141.57, a current ratio of 0.47 and a quick ratio of 0.49. Cogeco Communications has a twelve month low of C$60.89 and a twelve month high of C$77.40. The stock has a market capitalization of C$2.61 billion, a P/E ratio of 8.35, a PEG ratio of 4.77 and a beta of 0.89. The company's 50-day moving average price is C$70.36 and its two-hundred day moving average price is C$67.84.

Cogeco Communications (TSE:CCA - Get Free Report) last posted its quarterly earnings data on Thursday, April 9th. The company reported C$1.96 earnings per share (EPS) for the quarter. Cogeco Communications had a return on equity of 9.93% and a net margin of 11.13%.The company had revenue of C$693.56 million for the quarter. As a group, research analysts predict that Cogeco Communications will post 8.4900498 EPS for the current fiscal year.

About Cogeco Communications

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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