Cogeco Communications (TSE:CCA) Price Target Raised to C$99.00 at Desjardins

Cogeco Communications (TSE:CCA) had its price target lifted by Desjardins from C$96.00 to C$99.00 in a research report issued on Friday, BayStreet.CA reports. Desjardins’ price objective would indicate a potential downside of 4.81% from the stock’s previous close.

Several other research firms also recently issued reports on CCA. BMO Capital Markets raised shares of TMAC Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 2nd. Royal Bank of Canada lifted their price target on shares of from GBX 2,400 ($31.36) to GBX 2,800 ($36.59) and gave the stock an “outperform” rating in a research note on Monday, June 24th. National Bank Financial lifted their price target on shares of Wesdome Gold Mines from C$6.00 to C$6.25 and gave the stock an “outperform” rating in a research note on Friday. Finally, Canaccord Genuity lifted their price target on shares of Cogeco Communications from C$97.00 to C$104.00 and gave the stock a “buy” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Cogeco Communications currently has an average rating of “Buy” and an average price target of C$98.50.

Cogeco Communications stock traded up C$5.01 during midday trading on Friday, hitting C$104.00. 168,161 shares of the stock were exchanged, compared to its average volume of 85,970. Cogeco Communications has a 1 year low of C$61.68 and a 1 year high of C$107.00. The stock has a market cap of $4.66 billion and a price-to-earnings ratio of 14.93. The company has a debt-to-equity ratio of 136.92, a quick ratio of 1.71 and a current ratio of 1.80. The company has a 50 day simple moving average of C$93.54.

Cogeco Communications (TSE:CCA) last released its quarterly earnings results on Tuesday, April 9th. The company reported C$1.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$1.57 by C$0.07. The firm had revenue of C$584.13 million for the quarter, compared to analysts’ expectations of C$642.13 million. On average, equities research analysts anticipate that Cogeco Communications will post 7.4299999 EPS for the current fiscal year.

Cogeco Communications Company Profile

Cogeco Communications Inc operates as a communications corporation in North America. The company operates in three segments: Canadian Broadband Services; American Broadband Services; and Business Information and Communications Technology Services. It offers digital video and programming services, such as basic services, digital tier packages, discretionary services, pay-per-view channels, video-on-demand services, high definition and 4K television services, and advanced video services; Internet services; and telephony services to residential customers comprising direct international calling, international long distance plans, voicemail, and other custom calling features.

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