Desjardins Issues Pessimistic Forecast for Cogeco Communications (TSE:CCA) Stock Price

Cogeco Communications (TSE:CCA) had its target price dropped by research analysts at Desjardins from C$68.00 to C$64.00 in a research report issued to clients and investors on Wednesday, BayStreet reports. The firm currently has a “hold” rating on the stock. Desjardins’ price target points to a potential upside of 22.53% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Royal Bank Of Canada reduced their target price on shares of Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating on the stock in a report on Friday, July 10th. National Bank Financial lowered their price target on shares of Cogeco Communications from C$70.00 to C$69.00 and set a “sector perform” rating for the company in a report on Monday, August 31st. One 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 stock. According to MarketBeat.com, Cogeco Communications has an average rating of “Moderate Buy” and an average price target of C$72.67.

Cogeco Communications Price Performance

Shares of TSE CCA traded up C$0.41 during midday trading on Wednesday, reaching C$52.23. 149,433 shares of the stock traded hands, compared to its average volume of 179,077. The company has a debt-to-equity ratio of 241.79, a current ratio of 0.47 and a quick ratio of 0.49. The stock has a market capitalization of C$2.19 billion, a PE ratio of -1.98, a P/E/G ratio of 4.77 and a beta of 1.08. Cogeco Communications has a one year low of C$50.96 and a one year high of C$77.40. The company’s 50 day moving average is C$58.38 and its 200 day moving average is C$62.68.

Cogeco Communications (TSE:CCA) last announced its quarterly earnings results on Wednesday, July 15th. The company reported C$2.35 earnings per share for the quarter. The company had revenue of C$696.68 million for the quarter. Cogeco Communications had a negative net margin of 39.56% and a negative return on equity of 38.76%. On average, equities research analysts anticipate that Cogeco Communications will post 8.4900498 earnings per share for the current year.

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.