FY2023 EPS Estimates for Cogeco Communications Inc. Decreased by Analyst (TSE:CCA)

Cogeco Communications Inc. (TSE:CCAGet Rating) – Investment analysts at Desjardins cut their FY2023 earnings per share (EPS) estimates for Cogeco Communications in a research note issued on Monday, January 16th. Desjardins analyst J. Dubreuil now expects that the company will earn $8.67 per share for the year, down from their previous forecast of $9.42. Desjardins currently 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’ Q4 2023 earnings at $2.01 EPS and FY2024 earnings at $9.65 EPS.

A number of other research analysts have also commented on the company. National Bankshares decreased their price objective on Cogeco Communications from C$88.00 to C$83.00 and set a “sector perform” rating on the stock in a research report on Monday. CIBC dropped their price target on Cogeco Communications from C$100.00 to C$76.00 in a research note on Wednesday, October 26th. Scotiabank lowered their target price on Cogeco Communications from C$92.50 to C$90.00 in a research report on Monday, November 21st. Veritas Investment Research reaffirmed a “sell” rating on shares of Cogeco Communications in a research report on Monday. Finally, Royal Bank of Canada reduced their price target on Cogeco Communications from C$103.00 to C$97.00 in a report on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$89.71.

Cogeco Communications Trading Down 2.9 %

Shares of CCA opened at C$66.57 on Thursday. The stock has a 50 day simple moving average of C$75.10 and a 200-day simple moving average of C$76.78. 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$2.98 billion and a PE ratio of 7.32. The company has a current ratio of 0.54, a quick ratio of 0.49 and a debt-to-equity ratio of 146.81.

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 business had revenue of C$725.45 million for the quarter, compared to the consensus estimate of C$729.90 million.

Cogeco Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 9th. Shareholders of record on Thursday, February 9th will be paid a $0.776 dividend. The ex-dividend date of this dividend is Wednesday, January 25th. This represents a $3.10 annualized dividend and a yield of 4.66%. Cogeco Communications’s dividend payout ratio (DPR) is 31.80%.

Insider Transactions at Cogeco Communications

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

Cogeco Communications Company Profile

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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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