Scotiabank Issues Positive Forecast for Cogeco Communications (TSE:CCA) Stock Price

Cogeco Communications (TSE:CCA) had its target price increased by investment analysts at Scotiabank from C$74.00 to C$74.25 in a report released on Monday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 9.48% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Desjardins lowered their target price on Cogeco Communications from C$173.00 to C$171.00 and set a “hold” rating for the company in a report on Monday, November 3rd. CIBC reduced their price target on Cogeco Communications from C$71.00 to C$68.00 in a report on Friday, October 17th. BMO Capital Markets dropped their price objective on shares of Cogeco Communications from C$75.00 to C$70.00 in a report on Friday, October 31st. Finally, TD Securities reduced their target price on shares of Cogeco Communications from C$98.00 to C$95.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$74.78.

Cogeco Communications Price Performance

Shares of CCA traded down C$0.14 during mid-day trading on Monday, reaching C$67.82. The company had a trading volume of 18,697 shares, compared to its average volume of 57,603. The company has a market capitalization of C$2.86 billion, a price-to-earnings ratio of 8.92, a P/E/G ratio of 4.77 and a beta of 0.65. 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 simple moving average is C$66.37 and its 200 day simple moving average is C$65.84. Cogeco Communications has a 1-year low of C$59.10 and a 1-year high of C$73.35.

Cogeco Communications (TSE:CCA) last released its quarterly earnings data on Wednesday, October 29th. The company reported C$2.09 earnings per share (EPS) for the quarter. The business had revenue of C$708.69 million during the quarter. Cogeco Communications had a net margin of 11.68% and a return on equity of 11.56%. Analysts expect that Cogeco Communications will post 8.4900498 EPS 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.