Cogeco Communications (TSE:CCA) Shares Down 6.2% – Should You Sell?

Cogeco Communications Inc. (TSE:CCA) was down 6.2% on Friday . The company traded as low as C$62.40 and last traded at C$63.93. Approximately 43,212 shares traded hands during trading, a decline of 77% from the average daily volume of 185,324 shares. The stock had previously closed at C$68.12.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CCA shares. National Bank Financial upgraded Cogeco Communications from a “hold” rating to an “outperform” rating and increased their price target for the stock from C$71.00 to C$80.00 in a report on Wednesday, February 25th. TD Securities cut Cogeco Communications from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$100.00 to C$85.00 in a report on Thursday, March 26th. 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 report on Monday, January 12th. Desjardins lowered their price target on Cogeco Communications from C$72.00 to C$71.00 and set a “hold” rating for the company in a report on Tuesday, April 7th. Finally, Canadian Imperial Bank of Commerce increased their price target on 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 stock. According to data from MarketBeat, Cogeco Communications presently has an average rating of “Hold” and a consensus price target of C$75.28.

Cogeco Communications Trading Down 7.9%

The company has a 50 day moving average of C$70.36 and a 200-day moving average of C$67.81. The company has a debt-to-equity ratio of 141.57, a quick ratio of 0.49 and a current ratio of 0.47. The stock has a market cap of C$2.58 billion, a price-to-earnings ratio of 8.25, a price-to-earnings-growth ratio of 4.77 and a beta of 0.89.

Cogeco Communications (TSE:CCA) last posted its earnings results on Thursday, April 9th. The company reported C$1.96 earnings per share (EPS) for the quarter. Cogeco Communications had a return on equity of 9.93% and a net margin of 11.13%.The firm had revenue of C$693.56 million for the quarter. On average, research analysts anticipate that Cogeco Communications Inc. will post 8.4900498 earnings per share for the current year.

Cogeco Communications Company Profile

Cogeco Communications Inc is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.