National Bank Financial Upgrades Cogeco Communications (TSE:CCA) to Outperform

Cogeco Communications (TSE:CCA) was upgraded by investment analysts at National Bank Financial from a “hold” rating to an “outperform” rating in a report issued on Wednesday, Marketbeat reports. The firm presently has a C$80.00 price target on the stock, up from their prior price target of C$71.00. National Bank Financial’s target price suggests a potential upside of 9.84% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Canadian Imperial Bank of Commerce increased their price objective on shares of Cogeco Communications from C$68.00 to C$71.00 in a research note on Friday, January 16th. Desjardins upgraded Cogeco Communications to a “hold” rating in a research note on Wednesday, January 28th. TD Securities increased their target price on Cogeco Communications from C$95.00 to C$100.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Scotiabank boosted their price target on shares of Cogeco Communications from C$74.00 to C$74.25 and gave the company a “sector perform” rating in a report on Monday, January 12th. Finally, BMO Capital Markets dropped their price objective on shares of Cogeco Communications from C$75.00 to C$70.00 in a report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$77.16.

Cogeco Communications Price Performance

CCA stock opened at C$72.83 on Wednesday. The stock’s 50 day moving average is C$68.30 and its two-hundred day moving average is C$66.23. Cogeco Communications has a 52-week low of C$60.75 and a 52-week high of C$74.40. The company has a market capitalization of C$3.06 billion, a PE ratio of 9.96, a P/E/G ratio of 4.77 and a beta of 0.87. The company has a quick ratio of 0.49, a current ratio of 0.37 and a debt-to-equity ratio of 159.35.

Cogeco Communications (TSE:CCA) last posted its quarterly earnings results on Wednesday, January 14th. The company reported C$2.11 earnings per share (EPS) for the quarter. Cogeco Communications had a net margin of 11.68% and a return on equity of 11.56%. The firm had revenue of C$707.25 million for the quarter. Analysts predict that Cogeco Communications will post 8.4900498 earnings per share for the current fiscal 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.