Q2 2023 Earnings Estimate for Cogeco Communications Inc. Issued By Desjardins (TSE:CCA)

Cogeco Communications Inc. (TSE:CCAGet Rating) – Research analysts at Desjardins dropped their Q2 2023 earnings per share estimates for shares of Cogeco Communications in a research note issued on Monday, January 16th. Desjardins analyst J. Dubreuil now forecasts that the company will post earnings of $2.10 per share for the quarter, down from their previous estimate of $2.30. Desjardins has a “Buy” rating on the stock. The consensus estimate for Cogeco Communications’ current full-year earnings is $10.03 per share. Desjardins also issued estimates for Cogeco Communications’ Q3 2023 earnings at $2.12 EPS.

A number of other research analysts also recently commented on the company. CIBC reduced their price target on Cogeco Communications from C$100.00 to C$76.00 in a report on Wednesday, October 26th. Royal Bank of Canada decreased their price target on shares of Cogeco Communications from C$103.00 to C$97.00 in a research report on Monday. TD Securities cut their price target on shares of Cogeco Communications from C$115.00 to C$110.00 and set a “buy” rating on the stock in a report on Monday. National Bankshares reduced their price objective on shares of Cogeco Communications from C$88.00 to C$83.00 and set a “sector perform” rating on the stock in a research note on Monday. Finally, Scotiabank dropped their target price on shares of Cogeco Communications from C$92.50 to C$90.00 in a research report on Monday, November 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Cogeco Communications has a consensus rating of “Hold” and a consensus target price of C$89.71.

Cogeco Communications Stock Performance

TSE:CCA opened at C$68.58 on Wednesday. Cogeco Communications has a 1-year low of C$62.35 and a 1-year high of C$114.66. The stock has a market cap of C$3.07 billion and a P/E ratio of 7.54. The company has a debt-to-equity ratio of 146.81, a current ratio of 0.54 and a quick ratio of 0.49. The firm has a 50-day moving average of C$75.24 and a two-hundred day moving average of C$76.86.

Cogeco Communications (TSE:CCAGet Rating) last announced its earnings results on Thursday, October 27th. The company reported C$2.28 earnings per share for the quarter, beating the consensus estimate of C$2.15 by C$0.13. The firm had revenue of C$725.45 million during the quarter, compared to analysts’ expectations of C$729.90 million.

Insider Buying and Selling at Cogeco Communications

In other news, Director Jacques Royer sold 433 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of C$69.76, for a total transaction of C$30,206.08. Following the sale, the director now directly owns 524 shares in the company, valued at approximately C$36,554.24. In other news, Director Jacques Royer sold 433 shares of the business’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of C$69.76, for a total transaction of C$30,206.08. Following the completion of the transaction, the director now owns 524 shares of the company’s stock, valued at C$36,554.24. Also, Director Robin Anne Bienenstock acquired 1,581 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The stock was purchased at an average cost of C$73.30 per share, for a total transaction of C$115,887.30. Following the acquisition, the director now owns 2,471 shares in the company, valued at C$181,124.30.

Cogeco Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 9th. Shareholders of record on Thursday, January 26th will be issued a $0.776 dividend. The ex-dividend date of this dividend is Wednesday, January 25th. This represents a $3.10 dividend on an annualized basis and a yield of 4.53%. Cogeco Communications’s dividend payout ratio is currently 31.80%.

About Cogeco Communications

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Cogeco Communications Inc operates as a communications corporation in North America. It operates in two segments, Canadian Broadband Services and American Broadband Services. The company offers Internet, video, and telephony services to residential and business customers through its two-way broadband fiber networks.

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