CIBC Issues Pessimistic Forecast for Cogeco Communications (TSE:CCA) Stock Price

Cogeco Communications (TSE:CCA) had its price objective dropped by analysts at CIBC from C$71.00 to C$68.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. CIBC’s target price suggests a potential upside of 2.16% from the company’s previous close.

Several other brokerages also recently commented on CCA. National Bankshares downgraded Cogeco Communications from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from C$80.00 to C$69.00 in a report on Tuesday, August 12th. Desjardins set a C$73.00 price objective on shares of Cogeco Communications and gave the stock a “hold” rating in a report on Thursday, October 9th. Scotiabank cut their price objective on shares of Cogeco Communications from C$75.50 to C$75.00 and set a “sector perform” rating on the stock in a report on Thursday, July 17th. National Bank Financial lowered shares of Cogeco Communications from a “strong-buy” rating to a “hold” rating in a report on Monday, August 11th. Finally, BMO Capital Markets cut their price objective on shares of Cogeco Communications from C$80.00 to C$75.00 in a report on Thursday, July 17th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$75.22.

Cogeco Communications Price Performance

Shares of CCA opened at C$66.56 on Friday. Cogeco Communications has a twelve month low of C$59.10 and a twelve month high of C$75.09. The stock’s 50 day moving average is C$64.25 and its two-hundred day moving average is C$66.24. The firm has a market capitalization of C$2.80 billion, a PE ratio of 8.62, a P/E/G ratio of 4.77 and a beta of 0.52. The company has a current ratio of 0.37, a quick ratio of 0.49 and a debt-to-equity ratio of 159.35.

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.