Cogeco Communications (TSE:CCA) Given New C$76.00 Price Target at Royal Bank of Canada

Cogeco Communications (TSE:CCA) had its price target increased by Royal Bank of Canada from C$73.00 to C$76.00 in a report released on Monday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 36.99% from the stock’s previous close.

Several other equities analysts have also issued reports on CCA. Canaccord Genuity Group cut their price objective on shares of Cogeco Communications from C$63.00 to C$60.00 and set a “hold” rating on the stock in a report on Monday, April 15th. TD Securities lowered their price objective on shares of Cogeco Communications from C$90.00 to C$80.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Desjardins raised their target price on shares of Cogeco Communications from C$64.00 to C$69.00 and gave the stock a “hold” rating in a report on Monday. Finally, Scotiabank cut their price objective on shares of Cogeco Communications from C$77.00 to C$73.50 and set a “sector perform” rating for the company in a report on Monday, April 15th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Cogeco Communications has an average rating of “Hold” and an average price target of C$69.31.

Cogeco Communications Stock Performance

CCA traded up C$1.54 during mid-day trading on Monday, reaching C$55.48. 73,268 shares of the company traded hands, compared to its average volume of 81,417. The company has a quick ratio of 0.49, a current ratio of 0.55 and a debt-to-equity ratio of 143.84. The stock has a market capitalization of C$1.68 billion, a P/E ratio of 6.67, a P/E/G ratio of 4.77 and a beta of 0.47. Cogeco Communications has a 52-week low of C$50.78 and a 52-week high of C$68.58. The company’s fifty day moving average price is C$53.61 and its 200-day moving average price is C$57.48.

Cogeco Communications (TSE:CCA) last announced its quarterly earnings results on Thursday, April 11th. The company reported C$2.21 EPS for the quarter, beating analysts’ consensus estimates of C$1.88 by C$0.33. Cogeco Communications had a net margin of 12.34% and a return on equity of 11.41%. The firm had revenue of C$730.50 million during the quarter, compared to the consensus estimate of C$735.00 million. On average, sell-side analysts expect that Cogeco Communications will post 8.341791 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.