Cogeco Communications (TSE:CCA) PT Lowered to C$60.00 at Canaccord Genuity Group

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

Other equities research analysts have also recently issued research reports about the stock. Desjardins cut shares of Cogeco Communications from a buy rating to a hold rating and set a C$70.00 price objective on the stock. in a report on Friday, January 12th. Royal Bank of Canada cut their price target on shares of Cogeco Communications from C$84.00 to C$76.00 and set a sector perform rating on the stock in a report on Wednesday, April 10th. CIBC cut their price target on shares of Cogeco Communications from C$65.00 to C$63.00 and set a neutral rating on the stock in a report on Monday, December 18th. BMO Capital Markets raised their target price on shares of Cogeco Communications from C$64.00 to C$65.00 and gave the stock a market perform rating in a report on Friday, January 12th. Finally, Scotiabank set a C$77.00 target price on shares of Cogeco Communications and gave the stock a sector perform rating in a report on Thursday, January 4th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of C$69.69.

Cogeco Communications Price Performance

Shares of CCA opened at C$55.70 on Monday. The stock has a market cap of C$1.68 billion, a PE ratio of 6.69, a price-to-earnings-growth ratio of 4.77 and a beta of 0.47. The company has a debt-to-equity ratio of 136.39, a quick ratio of 0.49 and a current ratio of 0.59. Cogeco Communications has a fifty-two week low of C$50.78 and a fifty-two week high of C$72.56. The firm’s 50-day simple moving average is C$59.71 and its two-hundred day simple moving average is C$58.44.

Cogeco Communications (TSE:CCA) last announced its quarterly earnings data on Thursday, April 11th. The company reported C$2.21 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.88 by C$0.33. The business had revenue of C$730.50 million for the quarter, compared to analysts’ expectations of C$735.00 million. Cogeco Communications had a net margin of 12.47% and a return on equity of 11.58%. Analysts anticipate that Cogeco Communications will post 8.4785185 earnings per share for the current fiscal year.

Cogeco Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Thursday, May 9th will be given a dividend of $0.854 per share. The ex-dividend date is Wednesday, April 24th. This represents a $3.42 annualized dividend and a dividend yield of 6.13%. Cogeco Communications’s payout ratio is 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.