Cogeco Communications (TSE:CCA) Stock Price Target Lowered at Canadian Imperial Bank of Commerce

Cogeco Communications (TSE:CCA) had its price objective decreased by research analysts at Canadian Imperial Bank of Commerce from C$71.00 to C$65.00 in a note issued to investors on Thursday, BayStreet reports. The firm currently has a “neutral” rating on the stock. Canadian Imperial Bank of Commerce’s target price suggests a potential upside of 23.50% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. National Bank Financial lowered their target price on shares of Cogeco Communications from C$70.00 to C$69.00 and set a “sector perform” rating on the stock in a research note on Monday, August 31st. Royal Bank Of Canada decreased their price target on Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating on the stock in a report on Friday, July 10th. Finally, Desjardins lowered their price objective on Cogeco Communications from C$68.00 to C$64.00 and set a “hold” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$72.00.

Cogeco Communications Price Performance

TSE:CCA traded up C$0.13 during trading hours on Thursday, hitting C$52.63. 219,767 shares of the stock traded hands, compared to its average volume of 180,344. The company has a quick ratio of 0.49, a current ratio of 0.47 and a debt-to-equity ratio of 241.79. Cogeco Communications has a 1 year low of C$50.96 and a 1 year high of C$77.40. The company has a market cap of C$2.21 billion, a price-to-earnings ratio of -1.99, a price-to-earnings-growth ratio of 4.77 and a beta of 1.08. The stock has a 50 day moving average price of C$58.19 and a 200 day moving average price of C$62.54.

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