Cogeco (TSE:CGO) Given New C$60.00 Price Target at Canadian Imperial Bank of Commerce

Cogeco (TSE:CGO) had its price target decreased by research analysts at Canadian Imperial Bank of Commerce from C$67.00 to C$60.00 in a note issued to investors on Thursday, BayStreet reports. The brokerage currently has a “neutral” rating on the stock. Canadian Imperial Bank of Commerce’s target price points to a potential upside of 25.79% from the company’s previous close.

Cogeco Stock Down 1.4%

Shares of TSE:CGO traded down C$0.68 on Thursday, hitting C$47.70. 20,676 shares of the company’s stock were exchanged, compared to its average volume of 25,961. The firm’s 50-day moving average is C$55.06 and its 200 day moving average is C$60.95. The company has a market capitalization of C$451.72 million, a PE ratio of -1.32, a P/E/G ratio of -0.28 and a beta of 0.92. Cogeco has a 1-year low of C$47.27 and a 1-year high of C$77.04. The company has a debt-to-equity ratio of 961.67, a quick ratio of 0.51 and a current ratio of 0.49.

Cogeco (TSE:CGO) last issued its earnings results on Wednesday, July 15th. The company reported C$3.10 earnings per share for the quarter. Cogeco had a negative return on equity of 43.86% and a negative net margin of 11.78%.The business had revenue of C$724.17 million for the quarter. Sell-side analysts predict that Cogeco will post 11.054717 EPS for the current year.

Cogeco Company Profile

Cogeco Inc is a North American leader in the telecommunications and media sectors. Through Cogeco Communications Inc, 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. Through Cogeco Media, we operate 21 radio stations in Canada, primarily in the province of Quebec, as well as a news agency. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.