Cogeco Communications (TSE:CCA) Cut to Hold at TD Securities

TD Securities downgraded shares of Cogeco Communications (TSE:CCA) from a buy rating to a hold rating in a report published on Thursday, MarketBeat.com reports. TD Securities currently has C$85.00 price target on the stock, down from their previous price target of C$100.00.

Several other analysts have also issued reports on CCA. National Bank Financial upgraded shares of Cogeco Communications from a “hold” rating to an “outperform” rating and increased their price target for the stock from C$71.00 to C$80.00 in a research report on Wednesday, February 25th. Canadian Imperial Bank of Commerce upped their target price on Cogeco Communications from C$68.00 to C$71.00 in a research note on Friday, January 16th. Desjardins raised Cogeco Communications to a “hold” rating in a report on Wednesday, January 28th. Finally, Scotiabank lifted their price target on Cogeco Communications from C$74.00 to C$74.25 and gave the company a “sector perform” rating in a research note on Monday, January 12th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cogeco Communications has an average rating of “Hold” and a consensus target price of C$75.28.

Cogeco Communications Trading Down 0.6%

CCA opened at C$70.03 on Thursday. Cogeco Communications has a twelve month low of C$60.75 and a twelve month high of C$77.40. The company has a 50-day simple moving average of C$70.59 and a 200 day simple moving average of C$67.60. The company has a quick ratio of 0.49, a current ratio of 0.40 and a debt-to-equity ratio of 143.75. The stock has a market capitalization of C$2.94 billion, a price-to-earnings ratio of 9.58, a P/E/G ratio of 4.77 and a beta of 1.01.

Cogeco Communications (TSE:CCA) last released its earnings results on Wednesday, January 14th. The company reported C$2.11 EPS for the quarter. The firm had revenue of C$707.25 million for the quarter. Cogeco Communications had a net margin of 10.79% and a return on equity of 9.79%. Analysts predict 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.