Royal Bank of Canada Lowers Cogeco Communications (TSE:CCA) Price Target to C$76.00

Cogeco Communications (TSE:CCA) had its target price lowered by Royal Bank of Canada from C$84.00 to C$76.00 in a report released on Wednesday morning, BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

Other equities analysts also recently issued research reports about the company. Canaccord Genuity Group upped their target price on Cogeco Communications from C$63.00 to C$64.00 and gave the company a hold rating in a report on Tuesday, January 9th. CIBC decreased their target price on Cogeco Communications from C$65.00 to C$63.00 and set a neutral rating for the company in a report on Monday, December 18th. Desjardins downgraded Cogeco Communications from a buy rating to a hold rating and set a C$70.00 target price for the company. in a report on Friday, January 12th. Veritas Investment Research restated a buy rating on shares of Cogeco Communications in a report on Wednesday, December 13th. Finally, Scotiabank set a C$77.00 target price on Cogeco Communications and gave the company a sector perform rating in a report on Thursday, January 4th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of C$70.83.

Cogeco Communications Stock Performance

TSE:CCA opened at C$56.23 on Wednesday. The firm has a market cap of C$1.70 billion, a PE ratio of 6.76, a price-to-earnings-growth ratio of 4.77 and a beta of 0.47. Cogeco Communications has a fifty-two week low of C$50.78 and a fifty-two week high of C$72.56. The company has a debt-to-equity ratio of 136.39, a quick ratio of 0.49 and a current ratio of 0.59. The business has a 50 day moving average price of C$60.14 and a 200-day moving average price of C$58.64.

Cogeco Communications (TSE:CCA) last announced its earnings results on Wednesday, January 10th. The company reported C$2.33 EPS for the quarter, beating analysts’ consensus estimates of C$1.72 by C$0.61. The company had revenue of C$747.69 million during the quarter, compared to the consensus estimate of C$755.50 million. Cogeco Communications had a return on equity of 11.58% and a net margin of 12.47%. Equities research analysts predict that Cogeco Communications will post 8.4785185 earnings per share for the current year.

Insider Activity

In other news, Senior Officer Chantal Frappier sold 732 shares of the firm’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of C$60.67, for a total transaction of C$44,410.44. Corporate insiders own 0.45% of the company’s stock.

About Cogeco Communications

Cogeco Communications Inc operates as a telecommunications corporation in Canada and the United States. It operates in two segments, Canadian Telecommunications and American Telecommunications. The company offers Internet, video, and Internet protocol (IP) based telephony services to residential and small business customers through its two-way broadband fiber networks.