Cogeco (TSE:CGO) Cut to Hold at TD Securities

Cogeco (TSE:CGO) was downgraded by stock analysts at TD Securities from a “buy” rating to a “hold” rating in a note issued to investors on Thursday,BayStreet.CA reports. They currently have a C$85.00 price target on the stock, down from their previous price target of C$120.00. TD Securities’ price target points to a potential upside of 22.21% from the company’s current price.

Separately, Canadian Imperial Bank of Commerce lifted their price objective on shares of Cogeco from C$61.00 to C$66.00 in a research report on Friday, January 16th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$75.50.

Cogeco Stock Performance

Cogeco stock traded down C$7.06 during mid-day trading on Thursday, reaching C$69.55. 75,070 shares of the company’s stock were exchanged, compared to its average volume of 27,323. The firm has a market capitalization of C$658.50 million, a PE ratio of 8.05, a P/E/G ratio of -0.28 and a beta of 0.82. The company has a quick ratio of 0.51, a current ratio of 0.44 and a debt-to-equity ratio of 540.51. The business’s fifty day simple moving average is C$71.61 and its 200 day simple moving average is C$65.37. Cogeco has a one year low of C$53.41 and a one year high of C$77.04.

Cogeco (TSE:CGO) last announced its earnings results on Wednesday, January 14th. The company reported C$3.00 earnings per share (EPS) for the quarter. The firm had revenue of C$735.64 million during the quarter. Cogeco had a return on equity of 9.61% and a net margin of 2.80%. On average, sell-side analysts expect that Cogeco will post 11.054717 earnings per share for the current year.

About Cogeco

Cogeco Inc is a telecommunications company. The company has two reportable operating segments, namely Canadian broadband services and American broadband services. The Canadian and American broadband services segments provide a wide range of Internet, video, and telephony services primarily to residential customers, as well as business services across their coverage areas. The Canadian broadband services activities are carried out by Cogeco Connexion in the provinces of Quebec and Ontario and the American broadband services activities are carried out by Atlantic Broadband in 12 states.