Scotiabank Lowers Cogeco Communications (TSE:CCA) Price Target to C$73.50

Cogeco Communications (TSE:CCA) had its price objective decreased by equities researchers at Scotiabank from C$77.00 to C$73.50 in a research note issued to investors on Monday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 30.20% from the stock’s previous close.

Other analysts have also issued research reports about the stock. BMO Capital Markets lifted their price objective on shares of Cogeco Communications from C$64.00 to C$65.00 and gave the company a “market perform” rating in a research note on Friday, January 12th. Royal Bank of Canada decreased their price target on shares of Cogeco Communications from C$84.00 to C$76.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 10th. Desjardins dropped 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 report on Monday. CIBC reduced their target price on Cogeco Communications from C$65.00 to C$63.00 and set a “neutral” rating for the company in a research note on Monday, December 18th. Finally, Canaccord Genuity Group dropped their price target on Cogeco Communications from C$63.00 to C$60.00 and set a “hold” rating on the stock in a research note on Monday. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$69.69.

Cogeco Communications Stock Performance

Shares of Cogeco Communications stock opened at C$56.45 on Monday. The company has a market cap of C$1.71 billion, a P/E ratio of 6.78, a PEG ratio of 4.77 and a beta of 0.47. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 136.39. The business has a 50-day moving average price of C$59.80 and a two-hundred day moving average price of C$58.49. Cogeco Communications has a 1-year low of C$50.78 and a 1-year high of C$72.56.

Cogeco Communications (TSE:CCA) last released its earnings results on Thursday, April 11th. The company reported C$2.21 EPS for the quarter, topping the consensus estimate of C$1.88 by C$0.33. The business had revenue of C$730.50 million during the quarter, compared to analysts’ expectations of C$735.00 million. Cogeco Communications had a return on equity of 11.58% and a net margin of 12.47%. As a group, analysts anticipate that Cogeco Communications will post 8.4785185 EPS for the current year.

About Cogeco Communications

Cogeco Communications Inc operates as a telecommunications corporation in Canada and the United States. It operates in two segments, Canadian Telecommunications and American Telecommunications. The company offers Internet, video, and Internet protocol (IP) based telephony services to residential and small business customers through its two-way broadband fiber networks.