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

Cogeco Communications (TSE:CCA) had its target price cut by Royal Bank of Canada from C$79.00 to C$73.00 in a research note released on Tuesday morning, BayStreet.CA reports.

Several other research analysts have also recently weighed in on the stock. Scotiabank lowered their price target on shares of Cogeco Communications from C$77.00 to C$73.50 and set a sector perform rating on the stock in a research report on Monday, April 15th. Desjardins decreased their target price on shares of Cogeco Communications from C$68.00 to C$64.00 and set a hold rating on the stock in a research report on Monday, April 15th. Canaccord Genuity Group decreased their target price on shares of Cogeco Communications from C$63.00 to C$60.00 and set a hold rating on the stock in a research report on Monday, April 15th. Finally, TD Securities decreased their target price on shares of Cogeco Communications from C$90.00 to C$80.00 and set a buy rating on the stock in a research report on Wednesday, June 5th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of C$67.69.

Cogeco Communications Trading Up 1.2 %

Shares of CCA stock opened at C$51.84 on Tuesday. The company’s 50-day moving average price is C$53.64 and its 200-day moving average price is C$57.52. The company has a current ratio of 0.55, a quick ratio of 0.49 and a debt-to-equity ratio of 143.84. The stock has a market cap of C$1.57 billion, a price-to-earnings ratio of 6.23, a PEG ratio of 4.77 and a beta of 0.47. Cogeco Communications has a twelve month low of C$50.78 and a twelve month high of C$72.56.

Cogeco Communications (TSE:CCA) last announced its quarterly earnings results on Thursday, April 11th. The company reported C$2.21 earnings per share for the quarter, beating the consensus estimate of C$1.88 by C$0.33. The firm had revenue of C$730.50 million for 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%. As a group, equities analysts predict that Cogeco Communications will post 8.341791 earnings per share for the current year.

Cogeco Communications Company Profile

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.