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

Cogeco Communications (TSE:CCA) had its price target increased by equities research analysts at CIBC from C$68.00 to C$71.00 in a report issued on Friday,BayStreet.CA reports. CIBC’s price target would suggest a potential downside of 3.65% from the company’s current price.

A number of other research firms have also commented on CCA. National Bankshares raised their price objective on Cogeco Communications from C$66.00 to C$71.00 in a research note on Friday. Scotiabank raised their target price on shares of Cogeco Communications from C$74.00 to C$74.25 and gave the company a “sector perform” rating in a report on Monday. TD Securities boosted their price objective on shares of Cogeco Communications from C$95.00 to C$100.00 and gave the company a “buy” rating in a research report on Friday. BMO Capital Markets reduced their price objective on Cogeco Communications from C$75.00 to C$70.00 in a research note on Friday, October 31st. Finally, Desjardins set a C$71.00 target price on shares of Cogeco Communications and gave the stock a “hold” rating in a report on Monday. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Cogeco Communications presently has a consensus rating of “Hold” and an average target price of C$76.03.

Cogeco Communications Stock Performance

Shares of TSE:CCA traded up C$2.83 during trading on Friday, reaching C$73.69. 194,603 shares of the stock were exchanged, compared to its average volume of 106,171. Cogeco Communications has a 12 month low of C$59.10 and a 12 month high of C$74.04. The stock has a 50-day moving average price of C$66.68 and a 200-day moving average price of C$65.87. The company has a current ratio of 0.37, a quick ratio of 0.49 and a debt-to-equity ratio of 159.35. The firm has a market cap of C$3.09 billion, a PE ratio of 10.08, a PEG ratio of 4.77 and a beta of 0.65.

Cogeco Communications (TSE:CCA) last announced its earnings results on Wednesday, January 14th. The company reported C$2.11 earnings per share for the quarter. Cogeco Communications had a return on equity of 11.56% and a net margin of 11.68%.The company had revenue of C$707.25 million for the quarter. Research analysts expect that Cogeco Communications will post 8.4900498 EPS for the current fiscal year.

About Cogeco Communications

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.