CIBC Forecasts Strong Price Appreciation for Cogeco (TSE:CGO) Stock

Cogeco (TSE:CGO) had its price objective lifted by stock analysts at CIBC from C$61.00 to C$66.00 in a research note issued to investors on Friday,BayStreet.CA reports. CIBC’s price objective would indicate a potential downside of 8.47% from the company’s previous close.

Separately, TD Securities lifted their target price on shares of Cogeco from C$110.00 to C$120.00 and gave the company a “buy” rating in a research report on Friday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$93.00.

Cogeco Stock Performance

CGO traded up C$3.27 on Friday, hitting C$72.11. 58,561 shares of the stock traded hands, compared to its average volume of 25,573. The business has a fifty day moving average price of C$63.36 and a two-hundred day moving average price of C$62.01. The company has a current ratio of 0.40, a quick ratio of 0.51 and a debt-to-equity ratio of 605.15. The firm has a market capitalization of C$682.74 million, a PE ratio of 8.35, a P/E/G ratio of -0.28 and a beta of 0.54. Cogeco has a 52 week low of C$51.56 and a 52 week high of C$72.15.

Cogeco (TSE:CGO) last announced its quarterly earnings data on Wednesday, January 14th. The company reported C$3.00 earnings per share for the quarter. The company had revenue of C$735.64 million for the quarter. Cogeco had a return on equity of 11.28% and a net margin of 3.00%. On average, research analysts predict that Cogeco will post 11.054717 EPS for the current fiscal year.

About Cogeco

Cogeco Inc is a telecommunications company. The company has two reportable operating segments, namely Canadian broadband services and American broadband services. The Canadian and American broadband services segments provide a wide range of Internet, video, and telephony services primarily to residential customers, as well as business services across their coverage areas. The Canadian broadband services activities are carried out by Cogeco Connexion in the provinces of Quebec and Ontario and the American broadband services activities are carried out by Atlantic Broadband in 12 states.