Cogeco Communications (TSE:CCA) Stock Gets Price Target Trim from Scotia

Cogeco Communications (TSE:CCA) had its price target reduced by Scotia from C$64.50 to C$63.00 in a research report sent to investors on Friday morning,BayStreet reports. Scotia currently has a sector perform rating on the stock.

CCA has been the topic of several other reports. 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 report on Wednesday, October 7th. Canadian Imperial Bank of Commerce dropped their price target on shares of Cogeco Communications from C$71.00 to C$65.00 and set a “neutral” rating for the company in a research note on Thursday, October 8th. Canaccord Genuity Group reduced their price target on shares of Cogeco Communications from C$68.00 to C$61.00 and set a “buy” rating for the company in a research report on Friday. BMO Capital Markets dropped their price objective on shares of Cogeco Communications from C$65.00 to C$60.00 and set a “market perform” rating for the company in a research note on Friday. Finally, TD reduced their target price on Cogeco Communications from C$83.00 to C$81.00 and set a “buy” rating on the stock in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$65.55.

Cogeco Communications Price Performance

Shares of TSE:CCA opened at C$53.17 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 229.76. Cogeco Communications has a 1 year low of C$48.18 and a 1 year high of C$77.40. The business has a fifty day simple moving average of C$55.41 and a 200 day simple moving average of C$63.34. The firm has a market cap of C$2.23 billion, a price-to-earnings ratio of -2.01, a P/E/G ratio of 4.77 and a beta of 1.08.

Cogeco Communications (TSE:CCA) last issued its quarterly earnings data on Thursday, October 29th. The company reported C$2.05 earnings per share for the quarter. Cogeco Communications had a negative return on equity of 43.35% and a negative net margin of 39.55%. The business had revenue of C$695.49 million for the quarter. As a group, sell-side analysts predict that Cogeco Communications will post 8.49 earnings per share for the current fiscal year.

Key Headlines Impacting Cogeco Communications

Here are the key news stories impacting Cogeco Communications this week:

• Positive Sentiment: TD maintained a Buy rating and continues to see substantial upside, despite lowering its price target to C$81 from C$83. TD analyst rating
• Positive Sentiment: Canaccord Genuity also retained a Buy rating, reducing its target to C$61 from C$68. The revised target still implies potential appreciation from current levels. Canaccord Genuity analyst rating
• Neutral Sentiment: Scotia lowered its target to C$63 from C$64 while maintaining a Sector Perform rating. BMO Capital Markets cut its target to C$60 from C$65 and kept a Market Perform rating, signaling limited near-term conviction. Scotia analyst rating
• Negative Sentiment: Cogeco reported lower fourth-quarter adjusted earnings and revenue. Reported quarterly EPS was C$2.05 on revenue of C$695.49 million, while the company posted a negative net margin of 39.56% and negative return on equity of 38.76%. Cogeco Communications reports lower Q4 adjusted earnings and revenue
• Negative Sentiment: National Bank Financial cut its target sharply to C$53 from C$69 and assigned a Sector Perform rating. Desjardins reduced its target to C$53 from C$64 and maintained a Hold rating, leaving little implied upside. Desjardins analyst rating

About Cogeco Communications

Cogeco Communications Inc is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. 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. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.