Royal Bank of Canada Raises Cogeco Communications (TSE:CCA) Price Target to C$79.00

Cogeco Communications (TSE:CCA) had its price target raised by investment analysts at Royal Bank of Canada from C$76.00 to C$79.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 40.87% from the stock’s current price.

CCA has been the subject of several other reports. CIBC lowered 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 report on Monday, December 18th. Scotiabank decreased their price objective on shares of Cogeco Communications from C$77.00 to C$73.50 and set a “sector perform” rating for the company in a report on Monday. TD Securities decreased their price objective on shares of Cogeco Communications from C$93.00 to C$90.00 and set a “buy” rating for the company in a report on Monday. BMO Capital Markets lifted 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 research report on Friday, January 12th. Finally, Canaccord Genuity Group cut 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 report on Monday. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$69.69.

Cogeco Communications Stock Up 0.4 %

Shares of TSE:CCA opened at C$56.08 on Tuesday. The stock’s 50-day moving average price is C$59.80 and its 200-day moving average price is C$58.49. Cogeco Communications has a 12-month low of C$50.78 and a 12-month high of C$72.56. The stock has a market capitalization of C$1.69 billion, a P/E ratio of 6.74, a price-to-earnings-growth ratio of 4.77 and a beta of 0.47. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 136.39.

Cogeco Communications (TSE:CCA) last posted its earnings results on Thursday, April 11th. The company reported C$2.21 earnings per share (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 for the quarter, compared to analysts’ expectations of C$735.00 million. Cogeco Communications had a return on equity of 11.58% and a net margin of 12.47%. On average, equities analysts anticipate that Cogeco Communications will post 8.4785185 earnings per share for the current year.

About Cogeco Communications

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.