Cogeco Communications (TSE:CCA) PT Lowered to C$64.00 at Desjardins

Cogeco Communications (TSE:CCA) had its price target cut by Desjardins from C$68.00 to C$64.00 in a research note released on Monday, BayStreet.CA reports. They currently have a hold rating on the stock. Desjardins also issued estimates for Cogeco Communications’ Q3 2024 earnings at $1.61 EPS, Q4 2024 earnings at $1.68 EPS, FY2024 earnings at $7.50 EPS and FY2025 earnings at $6.73 EPS.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada reduced their price target on Cogeco Communications from C$84.00 to C$76.00 and set a sector perform rating on the stock in a report on Wednesday, April 10th. Scotiabank set a C$77.00 price objective on Cogeco Communications and gave the company a sector perform rating in a research report on Thursday, January 4th. BMO Capital Markets lifted their price objective on Cogeco Communications from C$64.00 to C$65.00 and gave the company a market perform rating in a research report on Friday, January 12th. CIBC cut their price objective on Cogeco Communications from C$65.00 to C$63.00 and set a neutral rating on the stock in a research report on Monday, December 18th. Finally, Canaccord Genuity Group cut their price objective on Cogeco Communications from C$63.00 to C$60.00 and set a hold rating on the stock 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 data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of C$69.69.

Cogeco Communications Stock Down 1.3 %

Shares of TSE:CCA opened at C$55.70 on Monday. Cogeco Communications has a 1 year low of C$50.78 and a 1 year high of C$72.56. The company has a market cap of C$1.68 billion, a PE ratio of 6.69, a P/E/G 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 stock’s 50-day moving average is C$59.71 and its 200 day moving average is C$58.44.

Cogeco Communications (TSE:CCA) last announced its quarterly earnings results 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. Cogeco Communications had a return on equity of 11.58% and a net margin of 12.47%. The company had revenue of C$730.50 million for the quarter, compared to the consensus estimate of C$735.00 million. Sell-side analysts anticipate that Cogeco Communications will post 8.4785185 EPS for the current year.

Cogeco Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Thursday, May 9th will be given a $0.854 dividend. The ex-dividend date is Wednesday, April 24th. This represents a $3.42 dividend on an annualized basis and a dividend yield of 6.13%. Cogeco Communications’s dividend payout ratio is currently 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.