Cogeco Communications (TSE:CCA) Downgraded by National Bank Financial to “Sector Perform”

National Bank Financial lowered shares of Cogeco Communications (TSE:CCA) from an outperform rating to a sector perform rating in a report issued on Friday,BayStreet.CA reports. National Bank Financial currently has C$70.00 price target on the stock, down from their prior price target of C$75.00.

Several other analysts have also recently commented on the stock. Scotiabank decreased their price target on shares of Cogeco Communications from C$74.25 to C$72.00 and set a “sector perform” rating on the stock in a research note on Monday, April 13th. TD upgraded shares of Cogeco Communications from a “hold” rating to a “buy” rating and dropped their target price for the company from C$85.00 to C$83.00 in a research report on Monday, April 13th. TD Securities raised Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Canaccord Genuity Group reduced their price target on Cogeco Communications from C$74.00 to C$70.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. Finally, Desjardins set a C$68.00 price objective on Cogeco Communications and gave the company a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$73.22.

Cogeco Communications Stock Up 1.0%

Shares of TSE:CCA opened at C$63.31 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.49 and a debt-to-equity ratio of 241.79. The company has a fifty day simple moving average of C$64.36 and a 200 day simple moving average of C$67.00. Cogeco Communications has a 12-month low of C$60.89 and a 12-month high of C$77.40. The firm has a market cap of C$2.66 billion, a PE ratio of 8.51, a price-to-earnings-growth ratio of 4.77 and a beta of 0.93.

Cogeco Communications (TSE:CCA) last released its quarterly earnings data on Wednesday, July 15th. The company reported C$2.35 earnings per share for the quarter. The firm had revenue of C$696.68 million for the quarter. Cogeco Communications had a negative net margin of 39.56% and a negative return on equity of 38.76%. On average, equities research analysts anticipate that Cogeco Communications will post 8.4900498 EPS for the current fiscal year.

Cogeco Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 7th. Shareholders of record on Thursday, May 7th were paid a $0.987 dividend. The ex-dividend date of this dividend was Thursday, April 23rd. This represents a $3.95 dividend on an annualized basis and a yield of 6.2%. Cogeco Communications’s payout ratio is presently 51.32%.

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.