Desjardins Trims Cogeco Communications (TSE:CCA) Target Price to C$64.00

Cogeco Communications (TSE:CCA) had its price objective reduced by Desjardins from C$68.00 to C$64.00 in a report published on Monday, 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.

CCA has been the topic of a number of other research reports. CIBC reduced their price objective on Cogeco Communications from C$65.00 to C$63.00 and set a neutral rating on the stock in a research note on Monday, December 18th. Scotiabank set a C$77.00 price objective on Cogeco Communications and gave the company a sector perform rating in a report on Thursday, January 4th. Royal Bank of Canada dropped their price objective on Cogeco Communications from C$84.00 to C$76.00 and set a sector perform rating for the company in a report on Wednesday, April 10th. BMO Capital Markets increased their price target on 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, Canaccord Genuity Group lowered their price target on Cogeco Communications from C$63.00 to C$60.00 and set a hold rating for the company in a report on Monday. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of C$69.69.

Cogeco Communications Stock Down 1.3 %

CCA opened at C$55.70 on Monday. The company has a debt-to-equity ratio of 136.39, a quick ratio of 0.49 and a current ratio of 0.59. The business has a 50 day moving average price of C$59.71 and a 200 day moving average price of C$58.44. The firm has a market cap 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. Cogeco Communications has a twelve month low of C$50.78 and a twelve 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 earnings per share (EPS) for the quarter, beating 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 return on equity of 11.58% and a net margin of 12.47%. Research analysts forecast that Cogeco Communications will post 8.4785185 EPS for the current year.

Cogeco Communications Announces Dividend

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