CIBC Raises Cogeco (TSE:CGO) Price Target to C$66.00

Cogeco (TSE:CGO) had its target price lifted by equities researchers at CIBC from C$61.00 to C$66.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC’s price objective would indicate a potential downside of 8.47% from the stock’s previous close.

Separately, TD Securities lifted their price target on Cogeco from C$110.00 to C$120.00 and gave the company a “buy” rating in a report on Friday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Cogeco has an average rating of “Buy” and an average price target of C$93.00.

Cogeco Price Performance

TSE CGO traded up C$3.27 during trading hours on Friday, reaching C$72.11. 58,561 shares of the company’s stock were exchanged, compared to its average volume of 25,573. The firm has a fifty day moving average of C$63.36 and a 200-day moving average of C$62.01. Cogeco has a one year low of C$51.56 and a one year high of C$72.15. The stock has a market cap of C$682.74 million, a PE ratio of 8.35, a price-to-earnings-growth ratio of -0.28 and a beta of 0.54. The company has a current ratio of 0.40, a quick ratio of 0.51 and a debt-to-equity ratio of 605.15.

Cogeco (TSE:CGO) last issued its quarterly earnings data on Wednesday, January 14th. The company reported C$3.00 earnings per share (EPS) for the quarter. The firm had revenue of C$735.64 million during the quarter. Cogeco had a return on equity of 11.28% and a net margin of 3.00%. On average, equities research analysts predict that Cogeco will post 11.054717 earnings per share 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.