Cogeco Communications (TSE:CCA) Rating Increased to Buy at TD

Cogeco Communications (TSE:CCA) was upgraded by research analysts at TD from a “hold” rating to a “buy” rating in a research report issued on Monday,BayStreet.CA reports. The brokerage currently has a C$83.00 target price on the stock, down from their previous target price of C$85.00. TD’s price objective indicates a potential upside of 33.53% from the company’s previous close.

Several other analysts have also commented on the stock. Canaccord Genuity Group reduced their price target on shares of Cogeco Communications from C$76.00 to C$74.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. National Bank Financial raised shares of Cogeco Communications from a “hold” rating to an “outperform” rating and lifted their price target for the company from C$71.00 to C$80.00 in a research report on Wednesday, February 25th. Scotiabank lifted their price target on shares of Cogeco Communications from C$74.00 to C$74.25 and gave the company a “sector perform” rating in a research report on Monday, January 12th. TD Securities lowered shares of Cogeco Communications from a “buy” rating to a “hold” rating and reduced their price target for the company from C$100.00 to C$85.00 in a research report on Thursday, March 26th. Finally, Royal Bank Of Canada lifted their price target on shares of Cogeco Communications from C$76.00 to C$77.00 and gave the company a “sector perform” rating in a research report on Thursday. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Cogeco Communications currently has a consensus rating of “Hold” and a consensus target price of C$75.11.

Cogeco Communications Price Performance

Shares of Cogeco Communications stock traded up C$0.76 on Monday, hitting C$62.16. 291,579 shares of the company were exchanged, compared to its average volume of 197,754. The stock has a market capitalization of C$2.61 billion, a price-to-earnings ratio of 8.35, a price-to-earnings-growth ratio of 4.77 and a beta of 0.89. The company has a 50-day moving average price of C$70.36 and a 200 day moving average price of C$67.84. Cogeco Communications has a 1-year low of C$60.89 and a 1-year high of C$77.40. The company has a quick ratio of 0.49, a current ratio of 0.47 and a debt-to-equity ratio of 141.57.

Cogeco Communications (TSE:CCA) last released its quarterly earnings results on Thursday, April 9th. The company reported C$1.96 EPS for the quarter. The firm had revenue of C$693.56 million for the quarter. Cogeco Communications had a net margin of 11.13% and a return on equity of 9.93%. As a group, sell-side analysts predict that Cogeco Communications will post 8.4900498 earnings per share for the current fiscal year.

Cogeco Communications Company Profile

Cogeco Communications Inc is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.