Desjardins Reiterates C$71.00 Price Target for Cogeco Communications (TSE:CCA)

Cogeco Communications (TSE:CCA) received a C$71.00 target price from stock analysts at Desjardins in a note issued to investors on Monday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Desjardins’ price objective indicates a potential upside of 4.69% from the company’s current price.

A number of other brokerages have also commented on CCA. Scotiabank raised their target price on shares of Cogeco Communications from C$74.00 to C$74.25 and gave the stock a “sector perform” rating in a research report on Monday. CIBC reduced their price objective on Cogeco Communications from C$71.00 to C$68.00 in a report on Friday, October 17th. BMO Capital Markets lowered their price target on shares of Cogeco Communications from C$75.00 to C$70.00 in a research report on Friday, October 31st. Finally, TD Securities dropped their price objective on Cogeco Communications from C$98.00 to C$95.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Cogeco Communications currently has an average rating of “Hold” and an average target price of C$74.78.

Cogeco Communications Trading Down 0.2%

Shares of CCA traded down C$0.14 during midday trading on Monday, hitting C$67.82. The stock had a trading volume of 18,697 shares, compared to its average volume of 57,603. Cogeco Communications has a 1 year low of C$59.10 and a 1 year high of C$73.35. The firm has a market cap of C$2.86 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 4.77 and a beta of 0.65. The company has a debt-to-equity ratio of 159.35, a current ratio of 0.37 and a quick ratio of 0.49. The stock’s 50 day moving average is C$66.37 and its 200 day moving average is C$65.84.

Cogeco Communications (TSE:CCA) last released its quarterly earnings results on Wednesday, October 29th. The company reported C$2.09 EPS for the quarter. The firm had revenue of C$708.69 million during the quarter. Cogeco Communications had a net margin of 11.68% and a return on equity of 11.56%. As a group, analysts forecast that Cogeco Communications will post 8.4900498 EPS for the current fiscal year.

Cogeco Communications Company Profile

Cogeco Communications Inc is a communication corporation. The company is a cable operator in North America operating in Canada. It provides residential and business customers with internet, video, and telephony services with broadband fibre networks. The reportable segments of the company are Canadian broadband services and American broadband services. In internet services, the company offers internet packages with download speeds of up to 120mbps. In video services, the company provides digital tier services, pay-per-view channels, video on-demand services, and 4k television, and telephony services include using internet protocol to transport digitized voice signals.