Scotiabank Forecasts Strong Price Appreciation for Cogeco Communications (TSE:CCA) Stock

Cogeco Communications (TSE:CCA) had its price target raised by analysts at Scotiabank from C$74.00 to C$74.25 in a research note issued on Monday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 10.31% from the stock’s current price.

Several other brokerages also recently commented on CCA. Desjardins dropped their target price on shares of Cogeco Communications from C$173.00 to C$171.00 and set a “hold” rating on the stock in a report on Monday, November 3rd. TD Securities cut their price objective on shares of Cogeco Communications from C$98.00 to C$95.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. CIBC reduced their target price on shares of Cogeco Communications from C$71.00 to C$68.00 in a research note on Friday, October 17th. Finally, BMO Capital Markets dropped their price target on Cogeco Communications from C$75.00 to C$70.00 in a research note on Friday, October 31st. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$74.78.

Cogeco Communications Stock Performance

CCA stock opened at C$67.31 on Monday. Cogeco Communications has a 1-year low of C$59.10 and a 1-year high of C$73.35. The company has a current ratio of 0.37, a quick ratio of 0.49 and a debt-to-equity ratio of 159.35. The firm has a market cap of C$2.83 billion, a PE ratio of 8.86, a P/E/G ratio of 4.77 and a beta of 0.65. The business’s 50-day moving average price is C$66.47 and its two-hundred day moving average price is C$65.82.

Cogeco Communications (TSE:CCA) last announced its quarterly earnings results on Wednesday, October 29th. The company reported C$2.09 earnings per share (EPS) for the quarter. Cogeco Communications had a return on equity of 11.56% and a net margin of 11.68%.The company had revenue of C$708.69 million during the quarter. As a group, research analysts forecast that Cogeco Communications will post 8.4900498 earnings per share for the current year.

Cogeco Communications Company Profile

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.