Cogeco Communications (TSE:CCA) Raised to Outperform at National Bankshares

Cogeco Communications (TSE:CCA) was upgraded by research analysts at National Bankshares from a “sector perform” rating to an “outperform” rating in a research note issued on Friday, BayStreet.CA reports. The firm currently has a C$80.00 target price on the stock, up from their previous target price of C$64.00. National Bankshares’ price objective indicates a potential upside of 17.03% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. BMO Capital Markets increased their target price on Cogeco Communications from C$65.00 to C$70.00 in a research note on Thursday, September 5th. Bank of America raised Cogeco Communications from an “underperform” rating to a “buy” rating and increased their target price for the stock from C$60.00 to C$65.00 in a research note on Wednesday, July 17th. TD Securities increased their target price on Cogeco Communications from C$80.00 to C$85.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Desjardins raised their price objective on Cogeco Communications from C$64.00 to C$69.00 and gave the company a “hold” rating in a research note on Monday, July 15th. Finally, Royal Bank of Canada raised their price objective on Cogeco Communications from C$73.00 to C$76.00 and gave the company a “sector perform” rating in a research note on Monday, July 15th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$71.28.

Cogeco Communications Stock Up 1.3 %

Shares of TSE:CCA traded up C$0.89 on Friday, hitting C$68.36. 52,340 shares of the company’s stock were exchanged, compared to its average volume of 76,909. The firm’s 50-day moving average is C$63.95 and its 200 day moving average is C$58.54. The company has a market capitalization of C$2.05 billion, a PE ratio of 8.70, a P/E/G ratio of 4.77 and a beta of 0.57. Cogeco Communications has a 1-year low of C$50.78 and a 1-year high of C$68.98. The company has a debt-to-equity ratio of 142.88, a quick ratio of 0.49 and a current ratio of 0.41.

Cogeco Communications (TSE:CCA) last announced its earnings results on Thursday, July 11th. The company reported C$2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.73 by C$0.72. The firm had revenue of C$750.58 million during the quarter, compared to analysts’ expectations of C$751.50 million. Cogeco Communications had a return on equity of 10.52% and a net margin of 11.44%. Sell-side analysts predict that Cogeco Communications will post 8.2156863 EPS for the current year.

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.