Royal Bank of Canada Lowers Cogeco Communications (TSE:CCA) Price Target to C$73.00

Cogeco Communications (TSE:CCAGet Free Report) had its target price cut by research analysts at Royal Bank of Canada from C$79.00 to C$73.00 in a research report issued on Tuesday, BayStreet.CA reports. Royal Bank of Canada’s price target suggests a potential upside of 42.52% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Desjardins reduced 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 Monday, April 15th. Canaccord Genuity Group dropped their target price on shares of Cogeco Communications from C$63.00 to C$60.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Scotiabank dropped their target price on shares of Cogeco Communications from C$77.00 to C$73.50 and set a “sector perform” rating for the company in a research report on Monday, April 15th. Finally, TD Securities dropped their target price on shares of Cogeco Communications from C$90.00 to C$80.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$67.69.

Read Our Latest Research Report on CCA

Cogeco Communications Price Performance

TSE:CCA opened at C$51.22 on Tuesday. The stock has a market cap of C$1.55 billion, a P/E ratio of 6.16, a PEG ratio of 4.77 and a beta of 0.47. Cogeco Communications has a one year low of C$50.78 and a one year high of C$72.56. The company has a fifty day moving average price of C$53.71 and a 200 day moving average price of C$57.56. The company has a debt-to-equity ratio of 143.84, a current ratio of 0.55 and a quick ratio of 0.49.

Cogeco Communications (TSE:CCAGet Free Report) last released its earnings results on Thursday, April 11th. The company reported C$2.21 EPS for the quarter, beating the consensus estimate of C$1.88 by C$0.33. The firm had revenue of C$730.50 million during the quarter, compared to analysts’ expectations of C$735.00 million. Cogeco Communications had a net margin of 12.34% and a return on equity of 11.41%. Analysts anticipate that Cogeco Communications will post 8.341791 earnings per share for the current year.

Cogeco Communications Company Profile

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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.

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