Cogeco Communications (TSE:CCA) PT Lowered to C$64.00 at Desjardins

Cogeco Communications (TSE:CCA) had its target price cut by Desjardins from C$68.00 to C$64.00 in a research note issued to investors on Monday morning, BayStreet.CA reports. They currently have a hold rating on the stock. Desjardins also issued estimates for Cogeco Communications’ Q3 2024 earnings at $1.61 EPS, Q4 2024 earnings at $1.68 EPS, FY2024 earnings at $7.50 EPS and FY2025 earnings at $6.73 EPS.

Several other equities analysts also recently issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of Cogeco Communications from C$84.00 to C$76.00 and set a sector perform rating for the company in a research note on Wednesday, April 10th. Scotiabank set a C$77.00 price objective on shares of Cogeco Communications and gave the company a sector perform rating in a research note on Thursday, January 4th. CIBC decreased their price objective on shares of Cogeco Communications from C$65.00 to C$63.00 and set a neutral rating for the company in a research note on Monday, December 18th. Canaccord Genuity Group reduced 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 report on Monday. Finally, BMO Capital Markets upped their target price on shares of Cogeco Communications from C$64.00 to C$65.00 and gave the company a market perform rating in a report on Friday, January 12th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of C$69.69.

Cogeco Communications Stock Performance

Shares of CCA stock opened at C$55.97 on Monday. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 136.39. The firm has a fifty day moving average price of C$59.60 and a 200 day moving average price of C$58.42. The company has a market cap of C$1.69 billion, a P/E ratio of 6.70, a PEG ratio of 4.77 and a beta of 0.47. Cogeco Communications has a 12 month low of C$50.78 and a 12 month high of C$72.56.

Cogeco Communications (TSE:CCA) last issued its earnings results on Thursday, April 11th. The company reported C$2.21 EPS for the quarter, topping analysts’ consensus estimates of C$1.88 by C$0.33. The firm had revenue of C$730.50 million during the quarter, compared to the consensus estimate of C$735.00 million. Cogeco Communications had a net margin of 12.47% and a return on equity of 11.58%. Sell-side analysts predict that Cogeco Communications will post 8.4785185 earnings per share for the current fiscal year.

Cogeco Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Thursday, May 9th will be issued a dividend of $0.854 per share. The ex-dividend date is Wednesday, April 24th. This represents a $3.42 annualized dividend and a yield of 6.10%. Cogeco Communications’s dividend payout ratio is currently 41.11%.

About Cogeco Communications

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.