Cogeco Communications Inc (TSE:CCA) – National Bank Financial cut their FY2018 earnings estimates for shares of Cogeco Communications in a research report issued on Thursday. National Bank Financial analyst A. Shine now expects that the company will post earnings per share of $5.90 for the year, down from their previous forecast of $6.23. National Bank Financial currently has a “Sector Perform” rating and a $88.00 price target on the stock.
Cogeco Communications (TSE:CCA) last released its quarterly earnings results on Wednesday, January 10th. The company reported C$1.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$1.52 by C$0.02. Cogeco Communications had a net margin of 12.93% and a return on equity of 18.11%.
Other equities analysts also recently issued research reports about the stock. Barclays raised their price target on shares of Cogeco Communications from C$80.00 to C$90.00 in a research note on Monday, November 6th. CIBC dropped their price target on shares of Cogeco Communications from C$93.00 to C$90.00 in a research note on Sunday. BMO Capital Markets dropped their price target on shares of Cogeco Communications from C$94.00 to C$90.00 in a research note on Friday. TD Securities raised shares of Cogeco Communications from a “reduce” rating to a “hold” rating and set a C$87.00 target price for the company in a research note on Thursday, December 21st. Finally, Canaccord Genuity downgraded shares of Cogeco Communications from a “buy” rating to a “hold” rating and lifted their target price for the stock from C$89.00 to C$93.00 in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of C$88.95.
Cogeco Communications (TSE:CCA) traded down C$1.11 during mid-day trading on Monday, hitting C$77.99. 121,139 shares of the stock traded hands, compared to its average volume of 84,887. The company has a market capitalization of $3,860.00, a P/E ratio of 12.89 and a beta of 0.71. Cogeco Communications has a 12-month low of C$68.69 and a 12-month high of C$95.21.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Wednesday, February 7th will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Tuesday, January 23rd. Cogeco Communications’s dividend payout ratio is presently 29.17%.
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About Cogeco Communications
Cogeco Communications Inc, formerly Cogeco Cable Inc, is a Canada-based communications company. The Company provides residential and business customers with video, Internet and telephony services through its two-way broadband fiber networks. The Company operates through three segments: Canadian broadband services, American broadband services and Business information and communications technology (Business ICT) services.
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