Cogeco Communications (TSE:CCA) Price Target Lowered to C$70.00 at Royal Bank Of Canada

Cogeco Communications (TSE:CCA) had its price objective reduced by Royal Bank Of Canada from C$74.00 to C$70.00 in a research note published on Friday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

CCA has been the subject of several other research reports. TD Securities raised shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Desjardins cut their price target on Cogeco Communications from C$71.00 to C$68.00 and set a “hold” rating on the stock in a research report on Monday, April 13th. TD raised Cogeco Communications from a “hold” rating to a “buy” rating and cut their price target for the stock from C$85.00 to C$83.00 in a research report on Monday, April 13th. Canaccord Genuity Group reduced their price objective on Cogeco Communications from C$74.00 to C$70.00 and set a “buy” rating for the company in a research note on Monday, April 13th. Finally, Scotiabank decreased their price objective on Cogeco Communications from C$74.25 to C$72.00 and set a “sector perform” rating for the company in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Cogeco Communications has a consensus rating of “Moderate Buy” and an average price target of C$74.33.

Cogeco Communications Stock Performance

Shares of TSE CCA traded down C$0.02 during mid-day trading on Friday, hitting C$63.46. The stock had a trading volume of 82,823 shares, compared to its average volume of 184,458. The company has a debt-to-equity ratio of 141.57, a quick ratio of 0.49 and a current ratio of 0.47. The company has a 50 day moving average of C$64.34 and a two-hundred day moving average of C$67.09. Cogeco Communications has a twelve month low of C$60.89 and a twelve month high of C$77.40. The firm has a market cap of C$2.67 billion, a PE ratio of 8.53, a PEG ratio of 4.77 and a beta of 0.93.

Cogeco Communications (TSE:CCA) last announced its quarterly earnings data on Thursday, April 9th. The company reported C$1.96 earnings per share (EPS) for the quarter. The firm 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%. Research analysts predict that Cogeco Communications will post 8.4900498 EPS for the current fiscal year.

Cogeco Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 7th. Stockholders of record on Thursday, May 7th were given a dividend of $0.987 per share. The ex-dividend date was Thursday, April 23rd. This represents a $3.95 dividend on an annualized basis and a dividend yield of 6.2%. Cogeco Communications’s dividend payout ratio (DPR) is 51.32%.

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.