Cogeco Communications (TSE:CCA) Given New C$60.00 Price Target at BMO Capital Markets

Cogeco Communications (TSE:CCA) had its price objective reduced by stock analysts at BMO Capital Markets from C$65.00 to C$60.00 in a report issued on Friday, BayStreet reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets‘s price target would suggest a potential upside of 12.74% from the company’s previous close.

Several other brokerages also recently commented on CCA. Scotiabank decreased their price objective on shares of Cogeco Communications from C$68.00 to C$64.50 and set a “sector perform” rating on the stock in a research report on Tuesday, October 20th. Desjardins dropped their target price on shares of Cogeco Communications from C$68.00 to C$64.00 and set a “hold” rating for the company in a report on Wednesday, October 7th. Canadian Imperial Bank of Commerce cut their price target on Cogeco Communications from C$71.00 to C$65.00 and set a “neutral” rating for the company in a research note on Thursday, October 8th. Canaccord Genuity Group decreased their price target on Cogeco Communications from C$68.00 to C$61.00 and set a “buy” rating on the stock in a report on Friday. Finally, National Bank Financial lowered their price objective on Cogeco Communications from C$69.00 to C$53.00 and set a “sector perform” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Cogeco Communications presently has a consensus rating of “Hold” and a consensus price target of C$65.55.

Cogeco Communications Stock Performance

Cogeco Communications stock traded down C$0.06 during midday trading on Friday, hitting C$53.22. The stock had a trading volume of 184,814 shares, compared to its average volume of 186,616. The firm’s fifty day moving average is C$55.54 and its two-hundred day moving average is C$63.41. The company has a market capitalization of C$2.24 billion, a PE ratio of -2.01, a P/E/G ratio of 4.77 and a beta of 1.08. Cogeco Communications has a 52-week low of C$48.18 and a 52-week high of C$77.40. The company has a current ratio of 0.47, a quick ratio of 0.49 and a debt-to-equity ratio of 241.79.

Cogeco Communications (TSE:CCA) last issued its quarterly earnings results on Thursday, October 29th. The company reported C$2.05 earnings per share for the quarter. Cogeco Communications had a negative net margin of 39.56% and a negative return on equity of 38.76%. The business had revenue of C$695.49 million for the quarter. On average, research analysts forecast that Cogeco Communications will post 8.49 EPS for the current year.

About Cogeco Communications

Cogeco Communications Inc is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.