Cogeco Communications (TSE:CCA) PT Lowered to C$64.00 at Desjardins

Cogeco Communications (TSE:CCA) had its price target cut by Desjardins from C$68.00 to C$64.00 in a research report sent to investors on Monday morning, BayStreet.CA reports. They currently have a hold rating on the stock. Desjardins also issued estimates for Cogeco Communications’ Q3 2024 earnings at $1.61 EPS, Q4 2024 earnings at $1.68 EPS, FY2024 earnings at $7.50 EPS and FY2025 earnings at $6.73 EPS.

Other analysts also recently issued reports about the stock. Scotiabank set a C$77.00 target price on shares of Cogeco Communications and gave the stock a sector perform rating in a research report on Thursday, January 4th. BMO Capital Markets boosted their price objective on shares of Cogeco Communications from C$64.00 to C$65.00 and gave the stock a market perform rating in a research note on Friday, January 12th. Royal Bank of Canada reduced their price objective 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. CIBC reduced their price objective 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. Finally, Canaccord Genuity Group reduced their price objective on shares of Cogeco Communications from C$63.00 to C$60.00 and set a hold rating for the company in a research note on Monday. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Cogeco Communications currently has an average rating of Hold and a consensus target price of C$69.69.

Cogeco Communications Stock Performance

CCA stock opened at C$55.97 on Monday. The company has a quick ratio of 0.49, a current ratio of 0.59 and a debt-to-equity ratio of 136.39. The company has a market capitalization of C$1.69 billion, a price-to-earnings ratio of 6.70, a P/E/G ratio of 4.77 and a beta of 0.47. Cogeco Communications has a 12 month low of C$50.78 and a 12 month high of C$72.56. The firm has a 50 day moving average of C$59.60 and a two-hundred day moving average of C$58.42.

Cogeco Communications (TSE:CCA) last posted its earnings results on Thursday, April 11th. The company reported C$2.21 EPS for the quarter, topping the consensus estimate of C$1.88 by C$0.33. The company had revenue of C$730.50 million during 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 analysts anticipate that Cogeco Communications will post 8.4785185 EPS for the current fiscal year.

Cogeco Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Thursday, May 9th will be paid a dividend of $0.854 per share. This represents a $3.42 annualized dividend and a yield of 6.10%. The ex-dividend date of this dividend is Wednesday, April 24th. Cogeco Communications’s payout ratio is currently 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.