Cogeco Communications (TSE:CCA) PT Lowered to C$90.00

Cogeco Communications (TSE:CCA) had its price objective reduced by TD Securities from C$93.00 to C$90.00 in a research report sent to investors on Monday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other analysts have also weighed in on the stock. CIBC decreased their target price on shares of Cogeco Communications from C$65.00 to C$63.00 and set a neutral rating on the stock in a research report on Monday, December 18th. Desjardins decreased their price objective on shares of Cogeco Communications from C$68.00 to C$64.00 and set a hold rating on the stock in a research note on Monday. BMO Capital Markets upped their price objective 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. Royal Bank of Canada decreased their price objective on shares of Cogeco Communications from C$84.00 to C$76.00 and set a sector perform rating on the stock in a research note on Wednesday, April 10th. Finally, Canaccord Genuity Group decreased their price objective on shares of Cogeco Communications from C$63.00 to C$60.00 and set a hold rating on the stock in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of C$69.69.

Cogeco Communications Price Performance

Shares of Cogeco Communications stock opened at C$55.97 on Monday. 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 firm’s 50-day simple moving average is C$59.60 and its 200-day simple moving average is C$58.42. Cogeco Communications has a twelve month low of C$50.78 and a twelve month high of C$72.56. The firm has a market cap of C$1.69 billion, a P/E ratio of 6.70, a price-to-earnings-growth ratio of 4.77 and a beta of 0.47.

Cogeco Communications (TSE:CCA) last issued its earnings results on Thursday, April 11th. The company reported C$2.21 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of C$730.50 million for the quarter, compared to analyst estimates of C$735.00 million. As a group, research analysts expect that Cogeco Communications will post 8.4785185 EPS for the current fiscal year.

Cogeco Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Thursday, May 9th will be paid a dividend of $0.854 per share. The ex-dividend date is Wednesday, April 24th. This represents a $3.42 annualized dividend and a dividend yield of 6.10%. Cogeco Communications’s dividend payout ratio (DPR) is currently 41.11%.

About Cogeco Communications

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.