Cogeco Communications (TSE:CCA) Price Target 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 note published on Monday morning, BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

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

Cogeco Communications Stock Down 1.3 %

CCA stock opened at C$55.70 on Monday. The firm’s fifty day simple moving average is C$59.71 and its 200-day simple moving average is C$58.44. The company has a market capitalization of C$1.68 billion, a P/E 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 current ratio of 0.59 and a quick ratio of 0.49. Cogeco Communications has a 12 month low of C$50.78 and a 12 month high of C$72.56.

Cogeco Communications (TSE:CCA) last released its quarterly earnings data on Thursday, April 11th. The company reported C$2.21 EPS for the quarter, beating the consensus estimate of C$1.88 by C$0.33. The business had revenue of C$730.50 million for the quarter, compared to the consensus estimate of C$735.00 million. Cogeco Communications had a net margin of 12.47% and a return on equity of 11.58%. As a group, equities research analysts forecast that Cogeco Communications will post 8.4785185 earnings per share for the current year.

Cogeco Communications Announces Dividend

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