Cogeco (TSE:CGO) Upgraded by TD to “Buy” Rating

TD upgraded shares of Cogeco (TSE:CGO) from a hold rating to a buy rating in a report issued on Monday,BayStreet.CA reports. They currently have C$81.00 price target on the stock, down from their prior price target of C$85.00.

A number of other brokerages also recently issued reports on CGO. Canadian Imperial Bank of Commerce boosted their price target on Cogeco from C$61.00 to C$66.00 in a report on Friday, January 16th. TD Securities downgraded Cogeco from a “buy” rating to a “hold” rating and decreased their price target for the company from C$120.00 to C$85.00 in a report on Thursday, March 26th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$77.33.

Cogeco Trading Down 0.2%

Shares of TSE:CGO opened at C$61.79 on Monday. Cogeco has a 12-month low of C$55.19 and a 12-month high of C$77.04. The company has a market capitalization of C$585.15 million, a PE ratio of 7.08, a PEG ratio of -0.28 and a beta of 0.83. The business has a 50 day moving average of C$70.92 and a two-hundred day moving average of C$65.91. The company has a current ratio of 0.50, a quick ratio of 0.51 and a debt-to-equity ratio of 531.92.

Cogeco (TSE:CGO) last announced its quarterly earnings results on Thursday, April 9th. The company reported C$2.12 earnings per share (EPS) for the quarter. Cogeco had a return on equity of 9.64% and a net margin of 2.86%.The company had revenue of C$713.04 million during the quarter. As a group, analysts forecast that Cogeco will post 11.054717 EPS for the current year.

About Cogeco

Cogeco Inc is a telecommunications company. The company has two reportable operating segments, namely Canadian broadband services and American broadband services. The Canadian and American broadband services segments provide a wide range of Internet, video, and telephony services primarily to residential customers, as well as business services across their coverage areas. The Canadian broadband services activities are carried out by Cogeco Connexion in the provinces of Quebec and Ontario and the American broadband services activities are carried out by Atlantic Broadband in 12 states.