Cogeco Communications (TSE:CCA) Stock Gets Price Target Reduction from National Bank Financial

Cogeco Communications (TSE:CCA) had its target price decreased by National Bank Financial from C$69.00 to C$53.00 in a research note published on Friday morning,BayStreet reports. National Bank Financial currently has a sector perform rating on the stock.

A number of other research analysts have also weighed in on the stock. Canadian Imperial Bank of Commerce dropped their price objective on shares of Cogeco Communications from C$71.00 to C$65.00 and set a “neutral” rating on the stock in a research note on Thursday, October 8th. Scotiabank decreased their price objective on 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. Royal Bank Of Canada lowered their price target on Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating for the company in a research report on Friday, July 10th. Desjardins dropped their price objective 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. Finally, Canaccord Genuity Group dropped their price objective on shares of Cogeco Communications from C$68.00 to C$61.00 and set a “buy” rating on the stock in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$65.55.

Cogeco Communications Stock Down 0.2%

CCA stock opened at C$53.17 on Friday. The stock has a market capitalization of C$2.23 billion, a P/E ratio of -2.01, a PEG ratio of 4.77 and a beta of 1.08. Cogeco Communications has a one year low of C$48.18 and a one year high of C$77.40. The company has a 50 day moving average price of C$55.41 and a two-hundred day moving average price of C$63.34. The company has a debt-to-equity ratio of 229.76, a quick ratio of 0.49 and a current ratio of 0.59.

Cogeco Communications (TSE:CCA) last released its quarterly earnings data on Thursday, October 29th. The company reported C$2.05 earnings per share for the quarter. Cogeco Communications had a negative return on equity of 43.35% and a negative net margin of 39.55%. The business had revenue of C$695.49 million during the quarter. As a group, sell-side analysts expect that Cogeco Communications will post 8.49 EPS for the current year.

Trending Headlines about Cogeco Communications

Here are the key news stories impacting Cogeco Communications this week:

• Positive Sentiment: TD maintained a Buy rating and continues to see substantial upside, despite lowering its price target to C$81 from C$83. TD analyst rating
• Positive Sentiment: Canaccord Genuity also retained a Buy rating, reducing its target to C$61 from C$68. The revised target still implies potential appreciation from current levels. Canaccord Genuity analyst rating
• Neutral Sentiment: Scotia lowered its target to C$63 from C$64 while maintaining a Sector Perform rating. BMO Capital Markets cut its target to C$60 from C$65 and kept a Market Perform rating, signaling limited near-term conviction. Scotia analyst rating
• Negative Sentiment: Cogeco reported lower fourth-quarter adjusted earnings and revenue. Reported quarterly EPS was C$2.05 on revenue of C$695.49 million, while the company posted a negative net margin of 39.56% and negative return on equity of 38.76%. Cogeco Communications reports lower Q4 adjusted earnings and revenue
• Negative Sentiment: National Bank Financial cut its target sharply to C$53 from C$69 and assigned a Sector Perform rating. Desjardins reduced its target to C$53 from C$64 and maintained a Hold rating, leaving little implied upside. Desjardins analyst rating

Cogeco Communications Company Profile

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.