Cogeco Communications (TSE:CCA) Price Target Cut to C$71.00 by Analysts at Desjardins

Cogeco Communications (TSE:CCA) had its target price cut by Desjardins from C$72.00 to C$71.00 in a research note published on Tuesday,BayStreet.CA reports. They currently have a hold rating on the stock.

A number of other research firms also recently commented on CCA. TD Securities downgraded Cogeco Communications from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$100.00 to C$85.00 in a research report on Thursday, March 26th. Scotiabank boosted their target price on Cogeco Communications from C$74.00 to C$74.25 and gave the stock a “sector perform” rating in a research report on Monday, January 12th. Canaccord Genuity Group decreased their target price on Cogeco Communications from C$76.00 to C$74.00 and set a “buy” rating on the stock in a research report on Monday. National Bank Financial raised shares of Cogeco Communications from a “hold” rating to an “outperform” rating and upped their price target for the company from C$71.00 to C$80.00 in a report on Wednesday, February 25th. Finally, Canadian Imperial Bank of Commerce upped their price target on shares of Cogeco Communications from C$68.00 to C$71.00 in a report on Friday, January 16th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of C$74.91.

Cogeco Communications Stock Down 1.1%

CCA stock opened at C$68.19 on Tuesday. The company has a market cap of C$2.86 billion, a P/E ratio of 9.33, a P/E/G ratio of 4.77 and a beta of 0.89. Cogeco Communications has a 52 week low of C$60.75 and a 52 week high of C$77.40. The company’s 50-day moving average price is C$70.39 and its 200 day moving average price is C$67.81. The company has a current ratio of 0.40, a quick ratio of 0.49 and a debt-to-equity ratio of 143.75.

Cogeco Communications (TSE:CCA) last posted its earnings results on Wednesday, January 14th. The company reported C$2.11 EPS for the quarter. The company 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%. On average, research analysts expect that Cogeco Communications will post 8.4900498 earnings per share 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.