Scotiabank Has Lowered Expectations for Cogeco Communications (TSE:CCA) Stock Price

Cogeco Communications (TSE:CCA) had its price target reduced by Scotiabank from C$77.50 to C$75.50 in a research note issued on Wednesday,BayStreet.CA reports. Scotiabank’s price objective would suggest a potential upside of 20.92% from the company’s previous close. Scotiabank also issued estimates for Cogeco Communications’ FY2025 earnings at $8.32 EPS.

Several other equities analysts also recently weighed in on CCA. BMO Capital Markets increased their price target on shares of Cogeco Communications from C$70.00 to C$80.00 in a report on Monday, November 4th. National Bankshares upgraded shares of Cogeco Communications from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from C$64.00 to C$80.00 in a research note on Friday, September 20th. TD Securities raised their target price on shares of Cogeco Communications from C$85.00 to C$89.00 in a report on Monday, November 4th. Canaccord Genuity Group raised shares of Cogeco Communications from a “hold” rating to a “buy” rating and upped their price target for the company from C$65.00 to C$77.00 in a report on Monday, November 4th. Finally, National Bank Financial upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 19th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cogeco Communications presently has an average rating of “Moderate Buy” and a consensus price target of C$76.17.

Cogeco Communications Stock Performance

CCA stock opened at C$62.44 on Wednesday. Cogeco Communications has a one year low of C$50.82 and a one year high of C$75.09. The firm has a 50-day simple moving average of C$68.68 and a two-hundred day simple moving average of C$65.61. The company has a debt-to-equity ratio of 142.88, a quick ratio of 0.49 and a current ratio of 0.41. The firm has a market cap of C$1.87 billion, a price-to-earnings ratio of 7.96, a PEG ratio of 4.77 and a beta of 0.59.

Insider Activity at Cogeco Communications

In related news, Director Robin Anne Bienenstock purchased 2,156 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were purchased at an average cost of C$69.66 per share, with a total value of C$150,189.33. Also, Director Jacques Royer sold 657 shares of Cogeco Communications stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of C$68.86, for a total value of C$45,241.02. Following the completion of the sale, the director now owns 1 shares in the company, valued at approximately C$68.86. The trade was a 99.85 % decrease in their ownership of the stock. 0.46% of the stock is owned by corporate insiders.

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.