FY2024 EPS Estimates for Cogeco Communications Inc. Boosted by Analyst (TSE:CCA)

Cogeco Communications Inc. (TSE:CCA) – Equities researchers at National Bank Financial raised their FY2024 earnings per share (EPS) estimates for Cogeco Communications in a report issued on Thursday, September 19th. National Bank Financial analyst A. Shine now forecasts that the company will post earnings of $9.34 per share for the year, up from their prior forecast of $8.77. National Bank Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for Cogeco Communications’ current full-year earnings is $8.22 per share.

Cogeco Communications (TSE:CCA) last released its earnings results on Thursday, July 11th. The company reported C$2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.73 by C$0.72. The business had revenue of C$750.58 million during the quarter, compared to analyst estimates of C$751.50 million. Cogeco Communications had a net margin of 11.44% and a return on equity of 10.52%.

Several other research analysts have also recently weighed in on CCA. Royal Bank of Canada boosted their price target on shares of Cogeco Communications from C$73.00 to C$76.00 and gave the company a “sector perform” rating in a research report on Monday, July 15th. National Bankshares raised shares of Cogeco Communications from a “sector perform” rating to an “outperform” rating and increased their price target for the company from C$64.00 to C$80.00 in a research note on Friday. TD Securities raised their price target on shares of Cogeco Communications from C$80.00 to C$85.00 and gave the stock a “buy” rating in a report on Monday, July 15th. BMO Capital Markets upped their price objective on Cogeco Communications from C$65.00 to C$70.00 in a report on Thursday, September 5th. Finally, Bank of America upgraded shares of Cogeco Communications from an “underperform” rating to a “buy” rating and boosted their price objective for the company from C$60.00 to C$65.00 in a report on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$71.28.

Cogeco Communications Stock Up 1.0 %

CCA stock opened at C$68.12 on Monday. The company has a current ratio of 0.41, a quick ratio of 0.49 and a debt-to-equity ratio of 142.88. The firm has a 50-day moving average of C$64.23 and a two-hundred day moving average of C$58.55. The company has a market cap of C$2.04 billion, a price-to-earnings ratio of 8.69, a PEG ratio of 4.77 and a beta of 0.57. Cogeco Communications has a 12 month low of C$50.78 and a 12 month high of C$68.98.

Cogeco Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, July 25th were paid a $0.854 dividend. This represents a $3.42 annualized dividend and a dividend yield of 5.01%. The ex-dividend date was Thursday, July 25th. Cogeco Communications’s payout ratio is 43.62%.

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.