Cogeco Communications Inc. (TSE:CCA) to Post Q3 2024 Earnings of $1.61 Per Share, Desjardins Forecasts

Cogeco Communications Inc. (TSE:CCA) – Analysts at Desjardins decreased their Q3 2024 earnings estimates for shares of Cogeco Communications in a research note issued on Monday, April 15th. Desjardins analyst J. Dubreuil now forecasts that the company will post earnings per share of $1.61 for the quarter, down from their prior forecast of $2.02. Desjardins currently has a “Hold” rating and a $64.00 target price on the stock. The consensus estimate for Cogeco Communications’ current full-year earnings is $8.48 per share. Desjardins also issued estimates for Cogeco Communications’ Q4 2024 earnings at $1.68 EPS, FY2024 earnings at $7.50 EPS and FY2025 earnings at $6.73 EPS.

Cogeco Communications (TSE:CCA) last posted its earnings results on Thursday, April 11th. The company reported C$2.21 earnings per share for the quarter, beating the consensus estimate of C$1.88 by C$0.33. Cogeco Communications had a net margin of 12.47% and a return on equity of 11.58%. The firm had revenue of C$730.50 million during the quarter, compared to the consensus estimate of C$735.00 million.

Several other research firms also recently weighed in on CCA. Canaccord Genuity Group dropped their target price on shares of Cogeco Communications from C$63.00 to C$60.00 and set a “hold” rating for the company in a report on Monday. Royal Bank of Canada raised their target price on shares of Cogeco Communications from C$76.00 to C$79.00 and gave the company a “sector perform” rating in a report on Tuesday. TD Securities dropped their target price on shares of Cogeco Communications from C$93.00 to C$90.00 and set a “buy” rating for the company in a report on Monday. Scotiabank decreased their price target on shares of Cogeco Communications from C$77.00 to C$73.50 and set a “sector perform” rating on the stock in a research note on Monday. Finally, BMO Capital Markets raised their price target on shares of Cogeco Communications from C$64.00 to C$65.00 and gave the stock a “market perform” rating in a research note on Friday, January 12th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cogeco Communications presently has a consensus rating of “Hold” and an average price target of C$69.69.

Cogeco Communications Stock Performance

TSE:CCA opened at C$55.97 on Wednesday. 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 firm has a 50-day moving average price of C$59.60 and a two-hundred day moving average price of C$58.42. Cogeco Communications has a twelve month low of C$50.78 and a twelve month high of C$72.56. The company has a market capitalization of C$1.69 billion, a P/E ratio of 6.70, a price-to-earnings-growth ratio of 4.77 and a beta of 0.47.

Cogeco Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Thursday, May 9th will be paid a dividend of $0.854 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $3.42 annualized dividend and a dividend yield of 6.10%. Cogeco Communications’s dividend payout ratio is currently 41.11%.

Cogeco Communications Company Profile

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.