Cogeco Communications (TSE:CCA) Stock Gets Price Target Trim from Canaccord Genuity Group

Cogeco Communications (TSE:CCA) had its target price reduced by Canaccord Genuity Group from C$68.00 to C$61.00 in a research report released on Friday morning,BayStreet reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on CCA. Scotiabank decreased their price target on shares of Cogeco Communications from C$68.00 to C$64.50 and set a “sector perform” rating on the stock in a research note on Tuesday, October 20th. Canadian Imperial Bank of Commerce cut their price objective on Cogeco Communications from C$71.00 to C$65.00 and set a “neutral” rating for the company in a report on Thursday, October 8th. National Bank Financial reduced their price target on Cogeco Communications from C$70.00 to C$69.00 and set a “sector perform” rating on the stock in a research report on Monday, August 31st. Desjardins cut their target price on shares of Cogeco Communications from C$68.00 to C$64.00 and set a “hold” rating on the stock in a research report on Wednesday, October 7th. Finally, Royal Bank Of Canada reduced their price target on shares of Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating for the company in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$65.55.

Cogeco Communications Price Performance

CCA opened at C$53.17 on Friday. The firm has a market cap of C$2.23 billion, a price-to-earnings ratio of -2.01, a PEG ratio of 4.77 and a beta of 1.08. The company has a fifty day simple moving average of C$55.41 and a 200 day simple moving average of C$63.34. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 229.76. Cogeco Communications has a twelve month low of C$48.18 and a twelve month high of C$77.40.

Cogeco Communications (TSE:CCA) last released its quarterly earnings data on Thursday, October 29th. The company reported C$2.05 earnings per share (EPS) for the quarter. The business had revenue of C$695.49 million during the quarter. Cogeco Communications had a negative return on equity of 43.35% and a negative net margin of 39.55%. Equities research analysts expect that Cogeco Communications will post 8.49 EPS for the current fiscal year.

More Cogeco Communications News

Here are the key news stories impacting Cogeco Communications this week:

• Positive Sentiment: TD maintained a Buy rating and continues to see substantial upside, despite lowering its price target to C$81 from C$83. TD analyst rating
• Positive Sentiment: Canaccord Genuity also retained a Buy rating, reducing its target to C$61 from C$68. The revised target still implies potential appreciation from current levels. Canaccord Genuity analyst rating
• Neutral Sentiment: Scotia lowered its target to C$63 from C$64 while maintaining a Sector Perform rating. BMO Capital Markets cut its target to C$60 from C$65 and kept a Market Perform rating, signaling limited near-term conviction. Scotia analyst rating
• Negative Sentiment: Cogeco reported lower fourth-quarter adjusted earnings and revenue. Reported quarterly EPS was C$2.05 on revenue of C$695.49 million, while the company posted a negative net margin of 39.56% and negative return on equity of 38.76%. Cogeco Communications reports lower Q4 adjusted earnings and revenue
• Negative Sentiment: National Bank Financial cut its target sharply to C$53 from C$69 and assigned a Sector Perform rating. Desjardins reduced its target to C$53 from C$64 and maintained a Hold rating, leaving little implied upside. Desjardins analyst rating

About Cogeco Communications

Cogeco Communications Inc is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.