Cogeco Communications (TSE:CCA) PT Lowered to C$73.50 at Scotiabank

Cogeco Communications (TSE:CCA) had its price target reduced by Scotiabank from C$77.00 to C$73.50 in a research note published on Monday, BayStreet.CA reports. They currently have a sector perform rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Royal Bank of Canada cut their price objective on shares of Cogeco Communications from C$84.00 to C$76.00 and set a sector perform rating for the company in a report on Wednesday, April 10th. CIBC cut their target price on shares of Cogeco Communications from C$65.00 to C$63.00 and set a neutral rating for the company in a research note on Monday, December 18th. Desjardins cut their target price on shares of Cogeco Communications from C$68.00 to C$64.00 and set a hold rating for the company in a research note on Monday. BMO Capital Markets boosted their target price on shares of Cogeco Communications from C$64.00 to C$65.00 and gave the stock a market perform rating in a research note on Friday, January 12th. Finally, Canaccord Genuity Group cut their target price on shares of Cogeco Communications from C$63.00 to C$60.00 and set a hold rating for the company in a research note on Monday. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and an average price target of C$69.69.

Cogeco Communications Stock Down 1.3 %

CCA opened at C$55.70 on Monday. Cogeco Communications has a fifty-two week low of C$50.78 and a fifty-two week high of C$72.56. The company has a debt-to-equity ratio of 136.39, a quick ratio of 0.49 and a current ratio of 0.59. The company has a fifty day moving average of C$59.71 and a two-hundred day moving average of C$58.44. The stock has a market capitalization of C$1.68 billion, a price-to-earnings ratio of 6.69, a PEG ratio of 4.77 and a beta of 0.47.

Cogeco Communications (TSE:CCA) last released its quarterly earnings data on Thursday, April 11th. The company reported C$2.21 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.88 by C$0.33. Cogeco Communications had a net margin of 12.47% and a return on equity of 11.58%. The company had revenue of C$730.50 million during the quarter, compared to analysts’ expectations of C$735.00 million. On average, research analysts expect that Cogeco Communications will post 8.4785185 earnings per share for the current year.

Cogeco Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Thursday, May 9th will be given 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 payout ratio 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.