Cogeco Communications (TSE:CCA) Hits New 12-Month High After Analyst Upgrade

Shares of Cogeco Communications Inc. (TSE:CCA) hit a new 52-week high on Thursday after National Bank Financial upgraded the stock from a hold rating to an outperform rating. National Bank Financial now has a C$80.00 price target on the stock, up from their previous price target of C$71.00. Cogeco Communications traded as high as C$74.40 and last traded at C$74.30, with a volume of 19391 shares traded. The stock had previously closed at C$73.57.

CCA has been the topic of a number of other research reports. Scotiabank boosted their price objective on Cogeco Communications from C$74.00 to C$74.25 and gave the stock a “sector perform” rating in a research note on Monday, January 12th. Canadian Imperial Bank of Commerce boosted their price target on shares of Cogeco Communications from C$68.00 to C$71.00 in a research report on Friday, January 16th. BMO Capital Markets cut their price objective on shares of Cogeco Communications from C$75.00 to C$70.00 in a research report on Friday, October 31st. Desjardins raised shares of Cogeco Communications to a “hold” rating in a research note on Wednesday, January 28th. Finally, TD Securities boosted their target price on shares of Cogeco Communications from C$95.00 to C$100.00 and gave the company a “buy” rating in a report on Friday, January 16th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$77.16.

Cogeco Communications Trading Up 1.0%

The company has a debt-to-equity ratio of 159.35, a quick ratio of 0.49 and a current ratio of 0.37. The company’s 50-day moving average price is C$68.17 and its 200-day moving average price is C$66.19. The firm has a market capitalization of C$3.12 billion, a PE ratio of 10.16, a PEG ratio of 4.77 and a beta of 0.87.

Cogeco Communications (TSE:CCA) last posted its earnings results on Wednesday, January 14th. The company reported C$2.11 earnings per share for the quarter. The firm had revenue of C$707.25 million during the quarter. Cogeco Communications had a return on equity of 11.56% and a net margin of 11.68%. On average, sell-side analysts expect that Cogeco Communications Inc. will post 8.4900498 earnings per share for the current year.

Cogeco Communications Company Profile

Cogeco Communications Inc is a communication corporation. The company is a cable operator in North America operating in Canada. It provides residential and business customers with internet, video, and telephony services with broadband fibre networks. The reportable segments of the company are Canadian broadband services and American broadband services. In internet services, the company offers internet packages with download speeds of up to 120mbps. In video services, the company provides digital tier services, pay-per-view channels, video on-demand services, and 4k television, and telephony services include using internet protocol to transport digitized voice signals.