Cogeco Communications (TSE:CCA) Posts Quarterly Earnings Results

Cogeco Communications (TSE:CCA) issued its quarterly earnings data on Wednesday. The company reported C$2.35 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$696.68 million for the quarter. Cogeco Communications had a return on equity of 9.93% and a net margin of 11.13%.

Cogeco Communications Trading Down 2.6%

Shares of CCA stock opened at C$62.70 on Friday. The business has a 50-day moving average price of C$64.37 and a two-hundred day moving average price of C$67.03. Cogeco Communications has a 12-month low of C$60.89 and a 12-month 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. The firm has a market cap of C$2.63 billion, a P/E ratio of 8.43, a price-to-earnings-growth ratio of 4.77 and a beta of 0.93.

Cogeco Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 7th. Shareholders of record on Thursday, May 7th were paid a dividend of $0.987 per share. The ex-dividend date of this dividend was Thursday, April 23rd. This represents a $3.95 annualized dividend and a yield of 6.3%. Cogeco Communications’s payout ratio is 51.32%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CCA shares. Canaccord Genuity Group decreased their target price on Cogeco Communications from C$74.00 to C$70.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. Scotiabank dropped their price target on Cogeco Communications from C$74.25 to C$72.00 and set a “sector perform” rating for the company in a research report on Monday, April 13th. Royal Bank Of Canada cut their price objective on Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating for the company in a report on Friday, July 10th. TD upgraded shares of Cogeco Communications from a “hold” rating to a “buy” rating and decreased their price objective for the stock from C$85.00 to C$83.00 in a research report on Monday, April 13th. Finally, Desjardins set a C$68.00 target price on shares of Cogeco Communications and gave the company a “hold” rating in a research note on Wednesday. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$74.33.

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.