Q3 2024 Earnings Forecast for Cogeco Communications Inc. (TSE:CCA) Issued By Desjardins

Cogeco Communications Inc. (TSE:CCA - Free Report) - Analysts at Desjardins decreased their Q3 2024 earnings per share (EPS) estimates for Cogeco Communications in a research report issued on Monday, April 15th. Desjardins analyst J. Dubreuil now forecasts that the company will earn $1.61 per share for the quarter, down from their previous estimate of $2.02. Desjardins has a "Hold" rating and a $64.00 price target on the stock. The consensus estimate for Cogeco Communications' current full-year earnings is $8.48 per share. Desjardins also issued estimates for Cogeco Communications' Q4 2024 earnings at $1.68 EPS, FY2024 earnings at $7.50 EPS and FY2025 earnings at $6.73 EPS.

Cogeco Communications (TSE:CCA - Get Free Report) last released its earnings results on Thursday, April 11th. The company reported C$2.21 earnings per share for the quarter, topping the consensus estimate of C$1.88 by C$0.33. Cogeco Communications had a return on equity of 11.58% and a net margin of 12.47%. The firm had revenue of C$730.50 million for the quarter, compared to the consensus estimate of C$735.00 million.

A number of other research firms also recently commented on CCA. TD Securities cut their price objective on Cogeco Communications from C$93.00 to C$90.00 and set a "buy" rating on the stock in a report on Monday. Canaccord Genuity Group cut their price objective on Cogeco Communications from C$63.00 to C$60.00 and set a "hold" rating on the stock in a report on Monday. Scotiabank cut their price objective on Cogeco Communications from C$77.00 to C$73.50 and set a "sector perform" rating on the stock in a report on Monday. Royal Bank of Canada raised their price objective on Cogeco Communications from C$76.00 to C$79.00 and gave the stock a "sector perform" rating in a report on Tuesday. Finally, BMO Capital Markets raised their price objective on Cogeco Communications from C$64.00 to C$65.00 and gave the stock a "market perform" rating in a report on Friday, January 12th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of C$69.69.

Cogeco Communications Trading Down 1.3 %

Shares of Cogeco Communications stock traded down C$0.75 during trading hours on Wednesday, reaching C$55.70. The stock had a trading volume of 30,916 shares, compared to its average volume of 99,204. The firm has a 50 day simple moving average of C$59.71 and a two-hundred day simple moving average of C$58.44. The firm has a market capitalization of C$1.68 billion, a price-to-earnings ratio of 6.69, a P/E/G ratio of 4.77 and a beta of 0.47. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 136.39. Cogeco Communications has a 1 year low of C$50.78 and a 1 year high of C$72.56.

Cogeco Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Thursday, May 9th will be paid a dividend of $0.854 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $3.42 dividend on an annualized basis and a yield of 6.13%. Cogeco Communications's dividend payout ratio (DPR) is presently 41.11%.

Cogeco Communications Company Profile

Cogeco Communications Inc operates as a telecommunications corporation in Canada and the United States. It operates in two segments, Canadian Telecommunications and American Telecommunications. The company offers Internet, video, and Internet protocol (IP) based telephony services to residential and small business customers through its two-way broadband fiber networks.