Cogeco Communications (TSE:CCA) Stock Gets Price Target Cut from TD

Cogeco Communications (TSE:CCA) had its price objective lowered by TD from C$83.00 to C$81.00 in a research report sent to investors on Friday,BayStreet reports. TD currently has a buy rating on the stock.

CCA has been the topic of several other reports. National Bank Financial dropped their target price on Cogeco Communications from C$69.00 to C$53.00 and set a “sector perform” rating on the stock in a research report on Friday. Scotiabank cut their price target on Cogeco Communications from C$68.00 to C$64.50 and set a “sector perform” rating for the company in a research note on Tuesday, October 20th. BMO Capital Markets lowered their price target on shares of Cogeco Communications from C$65.00 to C$60.00 and set a “market perform” rating for the company in a research report on Friday. Canadian Imperial Bank of Commerce decreased their price target on Cogeco Communications from C$71.00 to C$65.00 and set a “neutral” rating for the company in a research note on Thursday, October 8th. Finally, Royal Bank Of Canada reduced their price objective on Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating for the company in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$65.55.

Cogeco Communications Trading Down 0.2%

Shares of CCA stock opened at C$53.17 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.59 and a debt-to-equity ratio of 229.76. Cogeco Communications has a 12-month low of C$48.18 and a 12-month high of C$77.40. The firm has a 50 day moving average price of C$55.41 and a two-hundred day moving average price of C$63.34. The company has a market capitalization of C$2.23 billion, a PE ratio of -2.01, a price-to-earnings-growth ratio of 4.77 and a beta of 1.08.

Cogeco Communications (TSE:CCA) last posted its quarterly earnings results 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 for the quarter. Cogeco Communications had a negative return on equity of 43.35% and a negative net margin of 39.55%. As a group, analysts predict that Cogeco Communications will post 8.49 earnings per share for the current year.

Trending Headlines about Cogeco Communications

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.