Desjardins Has Lowered Expectations for Cogeco Communications (TSE:CCA) Stock Price

Key Points

• Desjardins cut its target price on Cogeco Communications from C$71.00 to C$68.00 and kept a “hold” rating, implying about a 9.4% upside from the current share price.
• Analysts are mixed: three rate the stock Buy and four Hold, with an average price target of C$75.11, while notable revisions include TD Securities downgrading from Buy to Hold and cutting its target from C$100 to C$85.
• Cogeco is trading at C$62.16 (market cap C$2.61B) with a P/E of 8.35; it reported quarterly EPS of C$1.96 on revenue of C$693.56 million.

Cogeco Communications (TSE:CCA - Get Free Report) had its target price dropped by Desjardins from C$71.00 to C$68.00 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. Desjardins' price objective would indicate a potential upside of 9.40% from the stock's current price.

A number of other research firms have also commented on CCA. Canadian Imperial Bank of Commerce increased their price target on Cogeco Communications from C$68.00 to C$71.00 in a research report on Friday, January 16th. Canaccord Genuity Group lowered their price target on Cogeco Communications from C$76.00 to C$74.00 and set a "buy" rating for the company in a research report on Monday, April 6th. Scotiabank increased their price target on Cogeco Communications from C$74.00 to C$74.25 and gave the company a "sector perform" rating in a research report on Monday, January 12th. Royal Bank Of Canada upped their price objective on 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 downgraded Cogeco Communications from a "buy" rating to a "hold" rating and reduced their price objective for the company from C$100.00 to C$85.00 in a research note on Thursday, March 26th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of C$75.11.

Cogeco Communications Stock Up 1.2%

TSE CCA traded up C$0.76 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 stock has a market capitalization of C$2.61 billion, a P/E ratio of 8.35, a P/E/G ratio of 4.77 and a beta of 0.89. The company's fifty day moving average is C$70.36 and its 200 day moving average is C$67.84. Cogeco Communications has a 52-week low of C$60.89 and a 52-week high of C$77.40. 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 (TSE:CCA - Get Free Report) last released its quarterly earnings results on Thursday, April 9th. The company reported C$1.96 EPS for the quarter. The business had revenue of C$693.56 million during the quarter. Cogeco Communications had a return on equity of 9.93% and a net margin of 11.13%. Sell-side analysts anticipate that Cogeco Communications will post 8.4900498 earnings per share for the current fiscal 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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