TD Securities Downgrades Cogeco Cable to Hold (CCA)
Cogeco Cable (TSE:CCA) was downgraded by investment analysts at TD Securities from a “buy” rating to a “hold” rating in a note issued to investors on Thursday. They currently have a C$71.00 price target on the stock. TD Securities’ price objective would suggest a potential upside of 11.01% from the company’s current price.
Cogeco Cable (TSE:CCA) traded down 1.89% during mid-day trading on Thursday, hitting $62.75. The stock had a trading volume of 45,751 shares. Cogeco Cable has a one year low of $41.59 and a one year high of $64.75. The stock has a 50-day moving average of $61.71 and a 200-day moving average of $54.28. The company has a market cap of $3.060 billion and a P/E ratio of 15.41.
Cogeco Cable (TSE:CCA) last issued its quarterly earnings data on Friday, April 11th. The company reported $1.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.09 by $0.14. On average, analysts predict that Cogeco Cable will post $4.75 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on CCA. Analysts at Global Maxfin Capital initiated coverage on shares of Cogeco Cable in a research note on Friday, May 23rd. They set a “buy” rating and a C$74.00 price target on the stock. Separately, analysts at CIBC raised their price target on shares of Cogeco Cable from C$63.00 to C$65.00 in a research note on Thursday, April 17th. Finally, analysts at Scotiabank downgraded shares of Cogeco Cable from an “outperform” rating to a “sector perform” rating in a research note on Friday, April 11th. They now have a C$64.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Cogeco Cable presently has an average rating of “Buy” and an average target price of C$66.35.
Cogeco Cable is a telecommunications corporation, the hybrid fibre coaxial cable operator in Ontario and Quebec.
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