Cogeco Communications (TSE:CCA) Releases Earnings Results

Cogeco Communications (TSE:CCAGet Free Report) released its quarterly earnings results on Wednesday. The company reported C$2.35 earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$696.68 million during the quarter. Cogeco Communications had a net margin of 11.13% and a return on equity of 9.93%.

Cogeco Communications Trading Up 1.3%

Cogeco Communications stock traded up C$0.85 during mid-day trading on Wednesday, hitting C$64.35. The company’s stock had a trading volume of 132,260 shares, compared to its average volume of 183,125. The firm has a market capitalization of C$2.70 billion, a PE ratio of 8.65, a price-to-earnings-growth ratio of 4.77 and a beta of 0.93. Cogeco Communications has a 1 year low of C$60.89 and a 1 year high of C$77.40. The company has a current ratio of 0.47, a quick ratio of 0.49 and a debt-to-equity ratio of 141.57. The stock’s fifty day moving average is C$64.37 and its two-hundred day moving average is C$67.07.

Cogeco Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 7th. Investors of record on Thursday, May 7th were issued a $0.987 dividend. The ex-dividend date was Thursday, April 23rd. This represents a $3.95 dividend on an annualized basis and a yield of 6.1%. Cogeco Communications’s dividend payout ratio is currently 51.32%.

Analysts Set New Price Targets

Several equities research analysts have commented on CCA shares. Canaccord Genuity Group cut their price objective on Cogeco Communications from C$74.00 to C$70.00 and set a “buy” rating for the company in a research note on Monday, April 13th. TD Securities raised Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. TD upgraded Cogeco Communications from a “hold” rating to a “buy” rating and dropped their price target for the stock from C$85.00 to C$83.00 in a research report on Monday, April 13th. Royal Bank Of Canada reduced their price objective on Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating for the company in a research note on Friday, July 10th. Finally, Scotiabank decreased their price objective on Cogeco Communications from C$74.25 to C$72.00 and set a “sector perform” rating on the stock in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Cogeco Communications has an average rating of “Moderate Buy” and a consensus price target of C$74.33.

Check Out Our Latest Report on Cogeco Communications

About Cogeco Communications

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Cogeco Communications Inc is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.

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Earnings History for Cogeco Communications (TSE:CCA)

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