TD Securities Upgrades Cogeco (TSE:CGO) to “Strong-Buy”

Cogeco (TSE:CGO) was upgraded by equities research analysts at TD Securities from a “hold” rating to a “strong-buy” rating in a report issued on Monday, Marketbeat Ratings reports.

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 upgraded Cogeco from a “hold” rating to a “buy” rating and reduced their price target for the company from C$85.00 to C$81.00 in a report on Monday. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Strong Buy” and a consensus target price of C$77.33.

Cogeco Stock Up 1.8%

Shares of TSE:CGO opened at C$62.91 on Monday. Cogeco has a 1 year low of C$55.19 and a 1 year high of C$77.04. The company has a market cap of C$595.76 million, a PE ratio of 7.21, a P/E/G ratio of -0.28 and a beta of 0.83. The company has a debt-to-equity ratio of 531.92, a current ratio of 0.50 and a quick ratio of 0.51. The stock’s 50-day moving average is C$70.80 and its 200 day moving average is C$65.92.

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 for the quarter. Sell-side analysts anticipate that Cogeco will post 11.054717 EPS for the current year.

Cogeco Company Profile

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.