Cogeco Communications (TSE:CCA) Cut to Hold at National Bank Financial

National Bank Financial cut shares of Cogeco Communications (TSE:CCA) from an outperform rating to a hold rating in a report published on Friday morning, Marketbeat reports. National Bank Financial currently has C$70.00 price target on the stock, down from their prior price target of C$75.00.

A number of other brokerages have also issued reports on CCA. TD raised Cogeco Communications from a “hold” rating to a “buy” rating and decreased their price target for the company from C$85.00 to C$83.00 in a research note on Monday, April 13th. Royal Bank Of Canada dropped their price objective on Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating on the stock in a research note on Friday, July 10th. Scotiabank cut their price objective on Cogeco Communications from C$74.25 to C$72.00 and set a “sector perform” rating for the company in a report on Monday, April 13th. Desjardins set a C$68.00 target price on Cogeco Communications and gave the company a “hold” rating in a research note on Wednesday, July 15th. Finally, Canaccord Genuity Group decreased their target price on Cogeco Communications from C$74.00 to C$70.00 and set a “buy” rating for the company in a research note on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$73.22.

Cogeco Communications Price Performance

Shares of TSE CCA opened at C$63.31 on Friday. The firm’s 50-day simple moving average is C$64.36 and its 200 day simple moving average is C$67.01. The company has a quick ratio of 0.49, a current ratio of 0.47 and a debt-to-equity ratio of 241.79. The stock has a market cap of C$2.66 billion, a P/E ratio of -2.40, a P/E/G ratio of 4.77 and a beta of 0.93. Cogeco Communications has a fifty-two week low of C$60.89 and a fifty-two week high of C$77.40.

Cogeco Communications (TSE:CCA) last posted its quarterly earnings data on Wednesday, July 15th. The company reported C$2.35 EPS for the quarter. Cogeco Communications had a negative net margin of 39.56% and a negative return on equity of 38.76%. The business had revenue of C$696.68 million for the quarter. Equities analysts expect that Cogeco Communications will post 8.4900498 EPS for the current year.

Cogeco Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 7th. Investors of record on Thursday, May 7th were paid a dividend of $0.987 per share. The ex-dividend date of this dividend was Thursday, April 23rd. This represents a $3.95 annualized dividend and a yield of 6.2%. Cogeco Communications’s dividend payout ratio is currently -14.69%.

Cogeco Communications Company Profile

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.