Scotiabank Trims Cogeco Communications (TSE:CCA) Target Price to C$73.50

Cogeco Communications (TSE:CCA) had its price target lowered by Scotiabank from C$77.00 to C$73.50 in a research note issued to investors on Monday, BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

A number of other analysts have also recently commented on CCA. Canaccord Genuity Group reduced their price target on Cogeco Communications from C$63.00 to C$60.00 and set a hold rating for the company in a research report on Monday. BMO Capital Markets increased their target price on Cogeco Communications from C$64.00 to C$65.00 and gave the stock a market perform rating in a research report on Friday, January 12th. Desjardins cut their target price on Cogeco Communications from C$68.00 to C$64.00 and set a hold rating for the company in a research report on Monday. CIBC cut their target price on Cogeco Communications from C$65.00 to C$63.00 and set a neutral rating for the company in a research report on Monday, December 18th. Finally, Royal Bank of Canada cut their target price on Cogeco Communications from C$84.00 to C$76.00 and set a sector perform rating for the company in a research report on Wednesday, April 10th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of C$69.69.

Cogeco Communications Stock Up 0.5 %

CCA stock opened at C$55.97 on Monday. Cogeco Communications has a fifty-two week low of C$50.78 and a fifty-two week high of C$72.56. The business’s 50-day moving average is C$59.60 and its two-hundred day moving average is C$58.42. The company has a debt-to-equity ratio of 136.39, a quick ratio of 0.49 and a current ratio of 0.59. The company has a market cap of C$1.69 billion, a price-to-earnings ratio of 6.70, a P/E/G ratio of 4.77 and a beta of 0.47.

Cogeco Communications (TSE:CCA) last issued its quarterly earnings results on Thursday, April 11th. The company reported C$2.21 EPS for the quarter, topping analysts’ consensus estimates of C$1.88 by C$0.33. The business had revenue of C$730.50 million during the quarter, compared to analysts’ expectations of C$735.00 million. Cogeco Communications had a return on equity of 11.58% and a net margin of 12.47%. As a group, analysts forecast that Cogeco Communications will post 8.4785185 earnings per share for the current year.

Cogeco Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Thursday, May 9th will be paid a dividend of $0.854 per share. This represents a $3.42 dividend on an annualized basis and a dividend yield of 6.10%. The ex-dividend date is Wednesday, April 24th. 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.