Q3 2024 EPS Estimates for Cogeco Communications Inc. Lowered by Desjardins (TSE:CCA)

Cogeco Communications Inc. (TSE:CCA) – Equities researchers at Desjardins lowered their Q3 2024 earnings estimates for shares of Cogeco Communications in a report issued on Monday, April 15th. Desjardins analyst J. Dubreuil now anticipates that the company will post earnings of $1.61 per share for the quarter, down from their previous forecast of $2.02. Desjardins has a “Hold” rating and a $64.00 price objective on the stock. The consensus estimate for Cogeco Communications’ current full-year earnings is $8.48 per share. Desjardins also issued estimates for Cogeco Communications’ Q4 2024 earnings at $1.68 EPS, FY2024 earnings at $7.50 EPS and FY2025 earnings at $6.73 EPS.

A number of other analysts also recently weighed in on CCA. TD Securities reduced their target price on shares of Cogeco Communications from C$93.00 to C$90.00 and set a “buy” rating on the stock in a report on Monday. Royal Bank of Canada boosted their target price on shares of Cogeco Communications from C$76.00 to C$79.00 and gave the stock a “sector perform” rating in a report on Tuesday. Canaccord Genuity Group reduced their target price on shares of Cogeco Communications from C$63.00 to C$60.00 and set a “hold” rating on the stock in a report on Monday. Scotiabank reduced their target price on shares of Cogeco Communications from C$77.00 to C$73.50 and set a “sector perform” rating on the stock in a report on Monday. Finally, BMO Capital Markets boosted their target price on shares of Cogeco Communications from C$64.00 to C$65.00 and gave the stock a “market perform” rating in a report on Friday, January 12th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Cogeco Communications presently has an average rating of “Hold” and an average price target of C$69.69.

Cogeco Communications Stock Performance

Cogeco Communications stock opened at C$55.97 on Wednesday. The company’s 50-day moving average price is C$59.60 and its 200-day moving average price is C$58.42. Cogeco Communications has a twelve month low of C$50.78 and a twelve month high of C$72.56. The company has a quick ratio of 0.49, a current ratio of 0.59 and a debt-to-equity ratio of 136.39. The company has a market cap of C$1.69 billion, a PE ratio of 6.70, a price-to-earnings-growth ratio of 4.77 and a beta of 0.47.

Cogeco Communications (TSE:CCA) last announced its quarterly earnings results on Thursday, April 11th. The company reported C$2.21 EPS for the quarter, topping the consensus estimate of C$1.88 by C$0.33. The business had revenue of C$730.50 million for the quarter, compared to analysts’ expectations of C$735.00 million. Cogeco Communications had a net margin of 12.47% and a return on equity of 11.58%.

Cogeco Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Thursday, May 9th will be issued a dividend of $0.854 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $3.42 annualized dividend and a yield of 6.10%. Cogeco Communications’s payout ratio is 41.11%.

Cogeco Communications Company Profile

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.