Cogeco (TSE:CGO) Stock Price Target Lowered at Canadian Imperial Bank of Commerce

Cogeco (TSE:CGO) had its price target lowered by Canadian Imperial Bank of Commerce from C$67.00 to C$60.00 in a research note issued on Thursday, BayStreet reports. The brokerage currently has a “neutral” rating on the stock. Canadian Imperial Bank of Commerce’s target price suggests a potential upside of 25.79% from the company’s current price.

Cogeco Stock Performance

Shares of CGO stock traded down C$0.68 during mid-day trading on Thursday, hitting C$47.70. 20,676 shares of the stock were exchanged, compared to its average volume of 25,961. The stock’s fifty day simple moving average is C$55.06 and its two-hundred day simple moving average is C$60.95. The company has a debt-to-equity ratio of 961.67, a quick ratio of 0.51 and a current ratio of 0.49. Cogeco has a 12-month low of C$47.27 and a 12-month high of C$77.04. The stock has a market capitalization of C$451.72 million, a price-to-earnings ratio of -1.32, a P/E/G ratio of -0.28 and a beta of 0.92.

Cogeco (TSE:CGO) last posted its earnings results on Wednesday, July 15th. The company reported C$3.10 earnings per share for the quarter. The business had revenue of C$724.17 million during the quarter. Cogeco had a negative return on equity of 43.86% and a negative net margin of 11.78%. On average, analysts forecast that Cogeco will post 11.054717 EPS for the current year.

Cogeco Company Profile

Cogeco Inc is a North American leader in the telecommunications and media sectors. Through Cogeco Communications Inc, 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. Through Cogeco Media, we operate 21 radio stations in Canada, primarily in the province of Quebec, as well as a news agency. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.