Cogeco Communications (TSE:CCA) Rating Lowered to Sector Perform at National Bank Financial

Cogeco Communications (TSE:CCA) was downgraded by analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a note issued to investors on Friday,BayStreet.CA reports. They currently have a C$70.00 target price on the stock, down from their previous target price of C$75.00. National Bank Financial’s target price would indicate a potential upside of 11.96% from the stock’s current price.

Several other equities research analysts have also recently weighed in on CCA. Royal Bank Of Canada reduced their price objective on Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating on the stock in a research note on Friday, July 10th. Scotiabank dropped their target price on Cogeco Communications from C$74.25 to C$72.00 and set a “sector perform” rating for the company in a report on Monday, April 13th. Desjardins set a C$68.00 target price on Cogeco Communications and gave the company a “hold” rating in a research report on Wednesday. TD Securities upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Finally, TD upgraded Cogeco Communications from a “hold” rating to a “buy” rating and lowered their price target for the stock from C$85.00 to C$83.00 in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$73.22.

Cogeco Communications Price Performance

Shares of Cogeco Communications stock traded down C$0.18 during trading hours on Friday, reaching C$62.52. The company’s stock had a trading volume of 95,582 shares, compared to its average volume of 183,681. The firm has a 50 day moving average price of C$64.37 and a 200-day moving average price of C$67.03. Cogeco Communications has a one year low of C$60.89 and a one year high of C$77.40. The company has a debt-to-equity ratio of 141.57, a current ratio of 0.47 and a quick ratio of 0.49. The stock has a market cap of C$2.63 billion, a P/E ratio of 8.40, a P/E/G ratio of 4.77 and a beta of 0.93.

Cogeco Communications (TSE:CCA) last announced its earnings results on Wednesday, July 15th. The company reported C$2.35 earnings per share (EPS) for the quarter. Cogeco Communications had a net margin of 11.13% and a return on equity of 9.93%. The firm had revenue of C$696.68 million for the quarter. On average, analysts predict that Cogeco Communications will post 8.4900498 EPS for the current year.

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.