Cogeco Communications (TSE:CCA) Downgraded to Hold Rating by TD Securities

TD Securities downgraded shares of Cogeco Communications (TSE:CCA) from a buy rating to a hold rating in a report released on Thursday,BayStreet.CA reports. The firm currently has C$85.00 target price on the stock, down from their previous target price of C$100.00.

Several other brokerages also recently issued reports on CCA. Canadian Imperial Bank of Commerce upped their price objective on Cogeco Communications from C$68.00 to C$71.00 in a research report on Friday, January 16th. Desjardins upgraded Cogeco Communications to a “hold” rating in a report on Wednesday, January 28th. Scotiabank increased their price target on Cogeco Communications from C$74.00 to C$74.25 and gave the stock a “sector perform” rating in a research note on Monday, January 12th. Finally, National Bank Financial upgraded Cogeco Communications from a “hold” rating to an “outperform” rating and raised their price objective for the stock from C$71.00 to C$80.00 in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$75.28.

Cogeco Communications Price Performance

Shares of TSE CCA opened at C$70.42 on Thursday. The firm has a market capitalization of C$2.96 billion, a P/E ratio of 9.63, a PEG ratio of 4.77 and a beta of 1.01. Cogeco Communications has a one year low of C$60.75 and a one year high of C$77.40. The company’s fifty day moving average is C$70.66 and its two-hundred day moving average is C$67.54. The company has a debt-to-equity ratio of 143.75, a quick ratio of 0.49 and a current ratio of 0.40.

Cogeco Communications (TSE:CCA) last announced its quarterly earnings results on Wednesday, January 14th. The company reported C$2.11 EPS for the quarter. The business had revenue of C$707.25 million for the quarter. Cogeco Communications had a return on equity of 9.79% and a net margin of 10.79%. Analysts forecast that Cogeco Communications will post 8.4900498 EPS for the current fiscal year.

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. In internet services, the company offers internet packages with download speeds of up to 120mbps. In video services, the company provides digital tier services, pay-per-view channels, video on-demand services, and 4k television, and telephony services include using internet protocol to transport digitized voice signals.