Cogeco Communications (TSE:CCA) Stock Gets Price Target Trim from BMO Capital Markets

Cogeco Communications (TSE:CCA) had its target price lowered by BMO Capital Markets from C$65.00 to C$60.00 in a research note published on Friday morning,BayStreet reports. The firm currently has a market perform rating on the stock.

Other analysts also recently issued research reports about the stock. Scotiabank lowered their price objective on shares of Cogeco Communications from C$68.00 to C$64.50 and set a “sector perform” rating for the company in a research report on Tuesday, October 20th. Royal Bank Of Canada reduced their price objective on shares of Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating for the company in a research note on Friday, July 10th. Canadian Imperial Bank of Commerce lowered their price objective on Cogeco Communications from C$71.00 to C$65.00 and set a “neutral” rating for the company in a research report on Thursday, October 8th. Canaccord Genuity Group decreased their price objective on Cogeco Communications from C$68.00 to C$61.00 and set a “buy” rating on the stock in a report on Friday. Finally, Desjardins cut their price objective on shares of Cogeco Communications from C$68.00 to C$64.00 and set a “hold” rating on the stock in a research report on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$65.55.

Cogeco Communications Stock Performance

TSE CCA opened at C$53.17 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 229.76. The stock has a 50-day moving average of C$55.41 and a 200 day moving average of C$63.34. The stock has a market capitalization of C$2.23 billion, a price-to-earnings ratio of -2.01, a PEG ratio of 4.77 and a beta of 1.08. Cogeco Communications has a twelve month low of C$48.18 and a twelve month high of C$77.40.

Cogeco Communications (TSE:CCA) last issued its earnings results on Thursday, October 29th. The company reported C$2.05 EPS for the quarter. The company had revenue of C$695.49 million for the quarter. Cogeco Communications had a negative net margin of 39.55% and a negative return on equity of 43.35%. Sell-side analysts anticipate that Cogeco Communications will post 8.49 EPS for the current fiscal year.

Cogeco Communications News Roundup

Here are the key news stories impacting Cogeco Communications this week:

• Positive Sentiment: TD maintained a Buy rating and continues to see substantial upside, despite lowering its price target to C$81 from C$83. TD analyst rating
• Positive Sentiment: Canaccord Genuity also retained a Buy rating, reducing its target to C$61 from C$68. The revised target still implies potential appreciation from current levels. Canaccord Genuity analyst rating
• Neutral Sentiment: Scotia lowered its target to C$63 from C$64 while maintaining a Sector Perform rating. BMO Capital Markets cut its target to C$60 from C$65 and kept a Market Perform rating, signaling limited near-term conviction. Scotia analyst rating
• Negative Sentiment: Cogeco reported lower fourth-quarter adjusted earnings and revenue. Reported quarterly EPS was C$2.05 on revenue of C$695.49 million, while the company posted a negative net margin of 39.56% and negative return on equity of 38.76%. Cogeco Communications reports lower Q4 adjusted earnings and revenue
• Negative Sentiment: National Bank Financial cut its target sharply to C$53 from C$69 and assigned a Sector Perform rating. Desjardins reduced its target to C$53 from C$64 and maintained a Hold rating, leaving little implied upside. Desjardins analyst rating

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.