Canaccord Genuity Group Cuts Cogeco Communications (TSE:CCA) Price Target to C$60.00

Cogeco Communications (TSE:CCA) had its price target decreased by Canaccord Genuity Group from C$63.00 to C$60.00 in a report published on Monday, BayStreet.CA reports. Canaccord Genuity Group currently has a hold rating on the stock.

Other analysts have also issued reports about the company. Desjardins lowered Cogeco Communications from a buy rating to a hold rating and set a C$70.00 price objective on the stock. in a research note on Friday, January 12th. BMO Capital Markets lifted their price target on 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. CIBC cut their price target on Cogeco Communications from C$65.00 to C$63.00 and set a neutral rating on the stock in a research note on Monday, December 18th. Royal Bank of Canada cut their price target on Cogeco Communications from C$84.00 to C$76.00 and set a sector perform rating on the stock in a research note on Wednesday, April 10th. Finally, Scotiabank set a C$77.00 price target on Cogeco Communications and gave the company a sector perform rating in a research note on Thursday, January 4th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and an average target price of C$69.69.

Cogeco Communications Stock Up 0.5 %

Shares of TSE CCA opened at C$55.97 on Monday. The company has a debt-to-equity ratio of 136.39, a quick ratio of 0.49 and a current ratio of 0.59. Cogeco Communications has a 52 week low of C$50.78 and a 52 week high of C$72.56. The stock has a market capitalization of C$1.69 billion, a P/E ratio of 6.70, a PEG ratio of 4.77 and a beta of 0.47. The stock’s fifty day moving average is C$59.60 and its 200 day moving average is C$58.42.

Cogeco Communications (TSE:CCA) last released its quarterly earnings data 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. The business had revenue of C$730.50 million for the quarter, compared to analyst estimates of C$735.00 million. Cogeco Communications had a return on equity of 11.58% and a net margin of 12.47%. Sell-side analysts forecast that Cogeco Communications will post 8.4785185 earnings per share for the current fiscal year.

Cogeco Communications Dividend Announcement

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

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.