CIBC Forecasts Strong Price Appreciation for Cogeco Communications (TSE:CCA) Stock

Cogeco Communications (TSE:CCA) had its price objective raised by CIBC from C$68.00 to C$71.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. CIBC’s target price indicates a potential downside of 3.65% from the company’s current price.

Other analysts also recently issued reports about the company. National Bankshares increased their price objective on Cogeco Communications from C$66.00 to C$71.00 in a research note on Friday. TD Securities increased their price target on Cogeco Communications from C$95.00 to C$100.00 and gave the company a “buy” rating in a research report on Friday. BMO Capital Markets cut their price objective on shares of Cogeco Communications from C$75.00 to C$70.00 in a report on Friday, October 31st. Scotiabank upped their target price on shares of Cogeco Communications from C$74.00 to C$74.25 and gave the stock a “sector perform” rating in a research note on Monday. Finally, Desjardins set a C$71.00 target price on shares of Cogeco Communications and gave the company a “hold” rating in a report on Monday. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$76.03.

Cogeco Communications Stock Up 4.0%

TSE:CCA traded up C$2.83 on Friday, hitting C$73.69. The stock had a trading volume of 194,603 shares, compared to its average volume of 106,171. The company has a market cap of C$3.09 billion, a PE ratio of 10.08, a P/E/G ratio of 4.77 and a beta of 0.65. Cogeco Communications has a 52 week low of C$59.10 and a 52 week high of C$74.04. The business’s fifty day moving average is C$66.68 and its 200 day moving average is C$65.87. The company has a quick ratio of 0.49, a current ratio of 0.37 and a debt-to-equity ratio of 159.35.

Cogeco Communications (TSE:CCA) last issued its earnings results on Wednesday, January 14th. The company reported C$2.11 earnings per share (EPS) for the quarter. Cogeco Communications had a return on equity of 11.56% and a net margin of 11.68%.The company had revenue of C$707.25 million for the quarter. On average, equities research analysts expect that Cogeco Communications will post 8.4900498 EPS for the current fiscal year.

About Cogeco Communications

Cogeco Communications Inc is a communication corporation. The company is a cable operator in North America operating in Canada. It provides residential and business customers with internet, video, and telephony services with broadband fibre networks. The reportable segments of the company are Canadian broadband services and American broadband services. In internet services, the company offers internet packages with download speeds of up to 120mbps. In video services, the company provides digital tier services, pay-per-view channels, video on-demand services, and 4k television, and telephony services include using internet protocol to transport digitized voice signals.