BMO Capital Markets Has Lowered Expectations for Cogeco Communications (TSE:CCA) Stock Price

Cogeco Communications (TSE:CCA) had its price objective dropped by stock analysts at BMO Capital Markets from C$65.00 to C$60.00 in a research report issued to clients and investors on Friday, BayStreet reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets‘s target price would indicate a potential upside of 12.74% from the stock’s current price.

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

Cogeco Communications Stock Down 0.1%

TSE:CCA traded down C$0.06 during mid-day trading on Friday, reaching C$53.22. The company’s stock had a trading volume of 184,814 shares, compared to its average volume of 186,616. The company has a quick ratio of 0.49, a current ratio of 0.47 and a debt-to-equity ratio of 241.79. Cogeco Communications has a 1 year low of C$48.18 and a 1 year high of C$77.40. The stock has a fifty day moving average of C$55.54 and a 200-day moving average of C$63.41. The firm has a market capitalization of C$2.24 billion, a PE ratio of -2.01, a price-to-earnings-growth ratio of 4.77 and a beta of 1.08.

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