BMO Capital Markets Issues Pessimistic Forecast for Cogeco Communications (TSE:CCA) Stock Price

Cogeco Communications (TSE:CCA) had its price target cut by stock analysts at BMO Capital Markets from C$80.00 to C$75.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. BMO Capital Markets’ price target would indicate a potential upside of 14.33% from the company’s previous close.

Several other brokerages also recently issued reports on CCA. Royal Bank Of Canada lowered their price objective on shares of Cogeco Communications from C$75.00 to C$74.00 in a research note on Thursday. Desjardins increased their price target on shares of Cogeco Communications from C$72.00 to C$74.00 in a report on Thursday, July 10th. Canaccord Genuity Group raised their price target on shares of Cogeco Communications from C$76.00 to C$77.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Scotiabank cut their price objective on shares of Cogeco Communications from C$75.50 to C$75.00 and set a “sector perform” rating for the company in a research report on Thursday. Finally, National Bankshares set a C$85.00 target price on shares of Cogeco Communications and gave the company an “outperform” rating in a research note on Friday, June 6th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Cogeco Communications presently has a consensus rating of “Moderate Buy” and an average price target of C$77.44.

Cogeco Communications Trading Down 1.3%

Shares of TSE:CCA opened at C$65.60 on Thursday. The company has a market cap of C$2.76 billion, a P/E ratio of 7.94, a P/E/G ratio of 4.77 and a beta of 0.59. The stock’s 50-day moving average is C$69.00 and its 200-day moving average is C$66.79. Cogeco Communications has a 52-week low of C$59.10 and a 52-week high of C$75.09. The company has a debt-to-equity ratio of 159.35, a quick ratio of 0.49 and a current ratio of 0.37.

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.