Scotiabank Lowers Cogeco Communications (TSE:CCA) Price Target to C$73.50

Cogeco Communications (TSE:CCA) had its price target lowered by Scotiabank from C$77.00 to C$73.50 in a research report report published on Monday, BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

A number of other analysts have also recently weighed in on the stock. BMO Capital Markets increased their target price on shares of Cogeco Communications from C$64.00 to C$65.00 and gave the stock a market perform rating in a report on Friday, January 12th. Royal Bank of Canada dropped their target price on shares of Cogeco Communications from C$84.00 to C$76.00 and set a sector perform rating on the stock in a report on Wednesday, April 10th. Desjardins lowered their price target on shares of Cogeco Communications from C$68.00 to C$64.00 and set a hold rating for the company in a research report on Monday. Canaccord Genuity Group lowered their price target on shares of Cogeco Communications from C$63.00 to C$60.00 and set a hold rating for the company in a research report on Monday. Finally, CIBC lowered their price target on shares of Cogeco Communications from C$65.00 to C$63.00 and set a neutral rating for the company in a research report on Monday, December 18th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of C$69.69.

Cogeco Communications Stock Down 1.3 %

Shares of TSE:CCA opened at C$55.70 on Monday. The stock has a market capitalization of C$1.68 billion, a price-to-earnings ratio of 6.69, a price-to-earnings-growth ratio of 4.77 and a beta of 0.47. Cogeco Communications has a 1-year low of C$50.78 and a 1-year high of C$72.56. The company’s fifty day moving average is C$59.71 and its two-hundred day moving average is C$58.44. 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 (TSE:CCA) last issued its earnings results on Thursday, April 11th. The company reported C$2.21 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.88 by C$0.33. The company had revenue of C$730.50 million for the quarter, compared to analysts’ expectations of C$735.00 million. Cogeco Communications had a net margin of 12.47% and a return on equity of 11.58%. Equities analysts anticipate that Cogeco Communications will post 8.4785185 EPS for the current year.

Cogeco Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Thursday, May 9th will be given a $0.854 dividend. The ex-dividend date is Wednesday, April 24th. This represents a $3.42 dividend on an annualized basis and a yield of 6.13%. Cogeco Communications’s dividend payout ratio is presently 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.