Cogeco Communications Inc. to Post Q3 2024 Earnings of $1.61 Per Share, Desjardins Forecasts (TSE:CCA)

Cogeco Communications Inc. (TSE:CCA) – Research analysts at Desjardins dropped their Q3 2024 earnings per share estimates for shares of Cogeco Communications in a research note issued on Monday, April 15th. Desjardins analyst J. Dubreuil now forecasts that the company will post earnings of $1.61 per share for the quarter, down from their previous estimate of $2.02. Desjardins has a “Hold” rating and a $64.00 price target on the stock. The consensus estimate for Cogeco Communications’ current full-year earnings is $8.48 per share. Desjardins also issued estimates for Cogeco Communications’ Q4 2024 earnings at $1.68 EPS, FY2024 earnings at $7.50 EPS and FY2025 earnings at $6.73 EPS.

Several other research analysts have also recently commented on CCA. BMO Capital Markets boosted their price target on Cogeco Communications from C$64.00 to C$65.00 and gave the stock a “market perform” rating in a research note on Friday, January 12th. TD Securities reduced their target price on Cogeco Communications from C$93.00 to C$90.00 and set a “buy” rating for the company in a research note on Monday. Royal Bank of Canada lifted their price target on shares of Cogeco Communications from C$76.00 to C$79.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Scotiabank reduced their price objective on shares of Cogeco Communications from C$77.00 to C$73.50 and set a “sector perform” rating on the stock in a research note on Monday. Finally, Canaccord Genuity Group dropped their target price on shares of Cogeco Communications from C$63.00 to C$60.00 and set a “hold” rating for the company in a research report on Monday. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$69.69.

Cogeco Communications Stock Performance

TSE:CCA opened at C$55.70 on Wednesday. Cogeco Communications has a 1-year low of C$50.78 and a 1-year high of C$72.56. The stock has a market cap of C$1.68 billion, a P/E ratio of 6.69, a PEG ratio of 4.77 and a beta of 0.47. The company has a debt-to-equity ratio of 136.39, a current ratio of 0.59 and a quick ratio of 0.49. The firm has a 50-day moving average of C$59.71 and a two-hundred day moving average of C$58.44.

Cogeco Communications (TSE:CCA) last posted its quarterly earnings data on Thursday, April 11th. The company reported C$2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.88 by C$0.33. The company had revenue of C$730.50 million for the quarter, compared to analyst estimates of C$735.00 million. Cogeco Communications had a net margin of 12.47% and a return on equity of 11.58%.

Cogeco Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Thursday, May 9th will be issued a $0.854 dividend. This represents a $3.42 annualized dividend and a dividend yield of 6.13%. The ex-dividend date is Wednesday, April 24th. Cogeco Communications’s dividend payout ratio (DPR) is presently 41.11%.

About Cogeco Communications

Cogeco Communications Inc operates as a telecommunications corporation in Canada and the United States. It operates in two segments, Canadian Telecommunications and American Telecommunications. The company offers Internet, video, and Internet protocol (IP) based telephony services to residential and small business customers through its two-way broadband fiber networks.