Cogeco Communications (TSE:CCA) Stock Gets Price Target Cut from Canadian Imperial Bank of Commerce

Cogeco Communications (TSE:CCA) had its price objective trimmed by Canadian Imperial Bank of Commerce from C$71.00 to C$65.00 in a report published on Thursday,BayStreet reports. The brokerage currently has a neutral rating on the stock.

CCA has been the subject of a number of other reports. National Bank Financial lowered their price target on shares of Cogeco Communications from C$70.00 to C$69.00 and set a “sector perform” rating for the company in a research report on Monday, August 31st. Desjardins decreased their target price on shares of Cogeco Communications from C$68.00 to C$64.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, Royal Bank Of Canada dropped their price target on Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating on the stock in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$72.00.

Cogeco Communications Price Performance

Shares of CCA stock opened at C$48.70 on Thursday. The company has a debt-to-equity ratio of 241.79, a quick ratio of 0.49 and a current ratio of 0.47. Cogeco Communications has a fifty-two week low of C$48.67 and a fifty-two week high of C$77.40. The firm has a market cap of C$2.05 billion, a P/E ratio of -1.84, a P/E/G ratio of 4.77 and a beta of 1.08. The business’s 50 day moving average price is C$57.83 and its 200-day moving average price is C$62.28.

Cogeco Communications (TSE:CCA) last announced its quarterly earnings results on Wednesday, July 15th. The company reported C$2.35 EPS for the quarter. Cogeco Communications had a negative return on equity of 38.76% and a negative net margin of 39.56%. The company had revenue of C$696.68 million during the quarter. On average, equities research analysts anticipate that Cogeco Communications will post 8.49 earnings per share for the current year.

Cogeco Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, August 12th were given a dividend of $0.9870 per share. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $3.95 annualized dividend and a dividend yield of 8.1%. Cogeco Communications’s dividend payout ratio (DPR) is -14.69%.

Cogeco Communications Company Profile

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.