Scotiabank Trims Cogeco Communications (TSE:CCA) Target Price to C$73.50

Cogeco Communications (TSE:CCA) had its price target decreased by Scotiabank from C$77.00 to C$73.50 in a research note published on Monday morning, BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

Other analysts also recently issued research reports about the stock. BMO Capital Markets raised 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 report on Friday, January 12th. Desjardins cut their target price on Cogeco Communications from C$68.00 to C$64.00 and set a hold rating on the stock in a report on Monday. Royal Bank of Canada cut their target price on 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. Canaccord Genuity Group cut their target price on Cogeco Communications from C$63.00 to C$60.00 and set a hold rating on the stock in a report on Monday. Finally, CIBC cut their target price on 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. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cogeco Communications presently has an average rating of Hold and a consensus target price of C$69.69.

Cogeco Communications Stock Performance

Shares of CCA stock opened at C$55.97 on Monday. The company has a market cap of C$1.69 billion, a price-to-earnings ratio of 6.70, a price-to-earnings-growth ratio of 4.77 and a beta of 0.47. Cogeco Communications has a 52 week low of C$50.78 and a 52 week high of C$72.56. 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 firm has a 50 day moving average of C$59.60 and a 200-day moving average of C$58.42.

Cogeco Communications (TSE:CCA) last announced its quarterly earnings data 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%. On average, equities 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 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 dividend payout ratio (DPR) 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.