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

TD Securities cut shares of Cogeco (TSE:CGO) from a buy rating to a hold rating in a report issued on Thursday,BayStreet.CA reports. They currently have C$85.00 price objective on the stock, down from their previous price objective of C$120.00.

Separately, Canadian Imperial Bank of Commerce upped their target price on Cogeco from C$61.00 to C$66.00 in a research report on Friday, January 16th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$75.50.

Cogeco Stock Performance

CGO stock opened at C$69.57 on Thursday. The firm has a 50 day moving average of C$71.62 and a two-hundred day moving average of C$65.40. Cogeco has a 12 month low of C$53.41 and a 12 month high of C$77.04. The company has a market capitalization of C$658.69 million, a price-to-earnings ratio of 8.05, a P/E/G ratio of -0.28 and a beta of 0.82. The company has a quick ratio of 0.51, a current ratio of 0.44 and a debt-to-equity ratio of 540.51.

Cogeco (TSE:CGO) last released its quarterly earnings results on Wednesday, January 14th. The company reported C$3.00 earnings per share for the quarter. The business had revenue of C$735.64 million for the quarter. Cogeco had a net margin of 2.80% and a return on equity of 9.61%. As a group, equities analysts anticipate that Cogeco will post 11.054717 EPS for the current fiscal 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.