Royal Bank Of Canada Cuts Cogeco Communications (TSE:CCA) Price Target to C$70.00

Cogeco Communications (TSE:CCA) had its price objective cut by stock analysts at Royal Bank Of Canada from C$74.00 to C$70.00 in a report released on Friday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 10.17% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. Desjardins dropped their price objective on Cogeco Communications from C$71.00 to C$68.00 and set a “hold” rating for the company in a report on Monday, April 13th. TD upgraded Cogeco Communications from a “hold” rating to a “buy” rating and dropped their price target for the company from C$85.00 to C$83.00 in a research note on Monday, April 13th. TD Securities upgraded shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Canaccord Genuity Group cut their target price on Cogeco Communications from C$74.00 to C$70.00 and set a “buy” rating on the stock in a report on Monday, April 13th. Finally, Scotiabank lowered their target price on shares of Cogeco Communications from C$74.25 to C$72.00 and set a “sector perform” rating for the company in a research note on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$74.33.

Cogeco Communications Stock Performance

TSE CCA traded up C$0.06 on Friday, hitting C$63.54. 27,431 shares of the stock were exchanged, compared to its average volume of 184,009. Cogeco Communications has a 52 week low of C$60.89 and a 52 week high of C$77.40. The company has a market capitalization of C$2.67 billion, a PE ratio of 8.54, a P/E/G ratio of 4.77 and a beta of 0.93. The business’s fifty day moving average is C$64.32 and its 200 day moving average is C$67.12. The company has a debt-to-equity ratio of 141.57, a current ratio of 0.47 and a quick ratio of 0.49.

Cogeco Communications (TSE:CCA) last released its quarterly earnings data on Thursday, April 9th. The company reported C$1.96 EPS for the quarter. Cogeco Communications had a net margin of 11.13% and a return on equity of 9.93%. The firm had revenue of C$693.56 million during the quarter. Research analysts anticipate that Cogeco Communications will post 8.4900498 EPS for the current fiscal 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.