Canaccord Genuity Group Cuts Cogeco Communications (TSE:CCA) Price Target to C$60.00

Cogeco Communications (TSE:CCA) had its price objective reduced by Canaccord Genuity Group from C$63.00 to C$60.00 in a research note issued to investors on Monday morning, BayStreet.CA reports. Canaccord Genuity Group currently has a hold rating on the stock.

CCA has been the subject of a number of other research reports. Desjardins lowered Cogeco Communications from a buy rating to a hold rating and set a C$70.00 target price for the company. in a report on Friday, January 12th. Scotiabank set a C$77.00 price target on Cogeco Communications and gave the stock a sector perform rating in a research note on Thursday, January 4th. CIBC dropped their price target on Cogeco Communications from C$65.00 to C$63.00 and set a neutral rating on the stock in a research note on Monday, December 18th. Royal Bank of Canada dropped their price target on Cogeco Communications from C$84.00 to C$76.00 and set a sector perform rating on the stock in a research note on Wednesday, April 10th. Finally, BMO Capital Markets raised their price target on Cogeco Communications from C$64.00 to C$65.00 and gave the stock a market perform rating in a research note on Friday, January 12th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Cogeco Communications has a consensus rating of Hold and a consensus price target of C$69.69.

Cogeco Communications Stock Up 0.5 %

Cogeco Communications stock opened at C$55.97 on Monday. The firm has a market cap of C$1.69 billion, a price-to-earnings ratio of 6.70, a PEG ratio of 4.77 and a beta of 0.47. The stock has a fifty day simple moving average of C$59.60 and a two-hundred day simple moving average of C$58.42. Cogeco Communications has a 12 month low of C$50.78 and a 12 month high of C$72.56. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 136.39.

Cogeco Communications (TSE:CCA) last posted its earnings results on Thursday, April 11th. The company reported C$2.21 EPS for the quarter, topping analysts’ consensus estimates of C$1.88 by C$0.33. The business had revenue of C$730.50 million during the quarter, compared to analyst estimates of C$735.00 million. Cogeco Communications had a return on equity of 11.58% and a net margin of 12.47%. Equities analysts predict that Cogeco Communications will post 8.4785185 EPS for the current fiscal year.

Cogeco Communications Announces Dividend

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 dividend of $0.854 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $3.42 annualized dividend and a yield of 6.10%. Cogeco Communications’s dividend payout ratio (DPR) is presently 41.11%.

Cogeco Communications Company Profile

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.