Canaccord Genuity Group Cuts Cogeco Communications (TSE:CCA) Price Target to C$74.00

Cogeco Communications (TSE:CCA) had its price objective reduced by Canaccord Genuity Group from C$76.00 to C$74.00 in a research note issued to investors on Monday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research analysts also recently issued reports on CCA. National Bank Financial upgraded Cogeco Communications from a “hold” rating to an “outperform” rating and lifted their price objective for the stock from C$71.00 to C$80.00 in a research report on Wednesday, February 25th. TD Securities downgraded 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 upped their price objective on Cogeco Communications from C$74.00 to C$74.25 and gave the stock a “sector perform” rating in a report on Monday, January 12th. Desjardins upgraded Cogeco Communications to a “hold” rating in a report on Wednesday, January 28th. Finally, Canadian Imperial Bank of Commerce raised their target price on Cogeco Communications from C$68.00 to C$71.00 in a report on Friday, January 16th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Cogeco Communications presently has a consensus rating of “Hold” and an average price target of C$74.91.

Cogeco Communications Stock Performance

TSE CCA opened at C$68.12 on Monday. The company has a quick ratio of 0.49, a current ratio of 0.40 and a debt-to-equity ratio of 143.75. Cogeco Communications has a 52-week low of C$60.75 and a 52-week high of C$77.40. The business’s 50-day moving average price is C$70.42 and its 200 day moving average price is C$67.81. The firm has a market cap of C$2.86 billion, a P/E ratio of 9.32, a P/E/G ratio of 4.77 and a beta of 0.89.

Cogeco Communications (TSE:CCA) last announced its quarterly earnings data on Wednesday, January 14th. The company reported C$2.11 earnings per share for the quarter. Cogeco Communications had a return on equity of 9.79% and a net margin of 10.79%.The company had revenue of C$707.25 million for the quarter. On average, equities research analysts expect that Cogeco Communications will post 8.4900498 earnings per share for the current 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.