National Bank Financial Analysts Cut Earnings Estimates for Cogeco Communications Inc. (TSE:CCA)

Cogeco Communications Inc. (TSE:CCA – Get Rating) – Analysts at National Bank Financial lowered their FY2023 earnings estimates for Cogeco Communications in a research report issued to clients and investors on Tuesday, January 10th. National Bank Financial analyst A. Shine now expects that the company will earn $9.06 per share for the year, down from their previous forecast of $9.81. The consensus estimate for Cogeco Communications’ current full-year earnings is $10.03 per share.

Cogeco Communications (TSE:CCA – Get Rating) last posted its earnings results on Thursday, October 27th. The company reported C$2.28 EPS for the quarter, topping the consensus estimate of C$2.15 by C$0.13. The business had revenue of C$725.45 million for the quarter, compared to analyst estimates of C$729.90 million.

CCA has been the topic of several other reports. National Bankshares lowered their target price on shares of Cogeco Communications from C$100.00 to C$96.00 in a research report on Monday, October 31st. Scotiabank lowered their price target on Cogeco Communications from C$92.50 to C$90.00 in a research report on Monday, November 21st. Desjardins raised Cogeco Communications from a “hold” rating to a “buy” rating in a research report on Sunday, October 30th. Canaccord Genuity Group raised their price target on Cogeco Communications from C$70.00 to C$72.00 in a research report on Monday, October 31st. Finally, CIBC lowered their price target on Cogeco Communications from C$100.00 to C$76.00 in a research report on Wednesday, October 26th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$96.00.

Cogeco Communications Trading Down 10.7 %

Cogeco Communications stock opened at C$72.88 on Friday. The company has a debt-to-equity ratio of 146.81, a current ratio of 0.54 and a quick ratio of 0.49. The company has a market capitalization of C$3.33 billion and a price-to-earnings ratio of 8.02. Cogeco Communications has a one year low of C$62.35 and a one year high of C$114.66. The company’s fifty day moving average price is C$75.35 and its two-hundred day moving average price is C$77.34.

Insider Activity at Cogeco Communications

In related news, Director Robin Anne Bienenstock bought 1,581 shares of Cogeco Communications stock in a transaction that occurred on Monday, November 14th. The stock was acquired at an average price of C$73.30 per share, for a total transaction of C$115,887.30. Following the completion of the purchase, the director now owns 2,471 shares in the company, valued at C$181,124.30. In other Cogeco Communications news, Director Robin Anne Bienenstock purchased 1,581 shares of the business’s stock in a transaction on Monday, November 14th. The stock was purchased at an average price of C$73.30 per share, for a total transaction of C$115,887.30. Following the completion of the purchase, the director now directly owns 2,471 shares in the company, valued at C$181,124.30. Also, Director Jacques Royer sold 433 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of C$69.76, for a total transaction of C$30,206.08. Following the transaction, the director now owns 524 shares of the company’s stock, valued at approximately C$36,554.24.

Cogeco Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 24th. Investors of record on Thursday, November 24th were paid a $0.776 dividend. This represents a $3.10 annualized dividend and a dividend yield of 4.26%. The ex-dividend date was Wednesday, November 9th. This is a boost from Cogeco Communications’s previous quarterly dividend of $0.71. Cogeco Communications’s dividend payout ratio (DPR) is presently 31.02%.

About Cogeco Communications

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Cogeco Communications Inc operates as a communications corporation in North America. It operates in two segments, Canadian Broadband Services and American Broadband Services. The company offers Internet, video, and telephony services to residential and business customers through its two-way broadband fiber networks.