Cogeco Communications (TSE:CCA) Given New C$71.00 Price Target at Desjardins

Cogeco Communications (TSE:CCA) had its price objective reduced by investment analysts at Desjardins from C$72.00 to C$71.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Desjardins’ target price points to a potential upside of 4.03% from the company’s previous close.

Several other research analysts also recently commented on CCA. TD Securities downgraded shares of Cogeco Communications from a “buy” rating to a “hold” rating and cut their price target for the company from C$100.00 to C$85.00 in a report on Thursday, March 26th. Scotiabank raised their price target on shares of Cogeco Communications from C$74.00 to C$74.25 and gave the company a “sector perform” rating in a report on Monday, January 12th. Canadian Imperial Bank of Commerce raised their price target on shares of Cogeco Communications from C$68.00 to C$71.00 in a report on Friday, January 16th. Canaccord Genuity Group cut their price target on shares of Cogeco Communications from C$76.00 to C$74.00 and set a “buy” rating for the company in a report on Monday. Finally, National Bank Financial raised shares of Cogeco Communications from a “hold” rating to an “outperform” rating and raised their price target for the company from C$71.00 to C$80.00 in a report on Wednesday, February 25th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of C$74.91.

Cogeco Communications Stock Performance

Shares of Cogeco Communications stock traded down C$0.71 during trading hours on Tuesday, reaching C$68.25. The company had a trading volume of 104,283 shares, compared to its average volume of 182,657. Cogeco Communications has a one year low of C$60.75 and a one year high of C$77.40. The business has a fifty day simple moving average of C$70.37 and a 200 day simple moving average of C$67.79. The company has a debt-to-equity ratio of 143.75, a current ratio of 0.40 and a quick ratio of 0.49. The firm has a market cap of C$2.87 billion, a PE ratio of 9.34, a price-to-earnings-growth ratio of 4.77 and a beta of 0.89.

Cogeco Communications (TSE:CCA) last posted its quarterly earnings results on Wednesday, January 14th. The company reported C$2.11 EPS for the quarter. Cogeco Communications had a return on equity of 9.79% and a net margin of 10.79%.The firm had revenue of C$707.25 million during the quarter. On average, analysts anticipate that Cogeco Communications will post 8.4900498 earnings per share for the current fiscal year.

About Cogeco Communications

Cogeco Communications Inc is a communication corporation. The company is a cable operator in North America operating in Canada. It provides residential and business customers with internet, video, and telephony services with broadband fibre networks. The reportable segments of the company are Canadian broadband services and American broadband services. In internet services, the company offers internet packages with download speeds of up to 120mbps. In video services, the company provides digital tier services, pay-per-view channels, video on-demand services, and 4k television, and telephony services include using internet protocol to transport digitized voice signals.