Analysts Issue Forecasts for Cogeco Communications Inc.’s Q3 2024 Earnings (TSE:CCA)

Cogeco Communications Inc. (TSE:CCA) – Desjardins decreased their Q3 2024 earnings estimates for shares of Cogeco Communications in a research note issued to investors on Monday, April 15th. Desjardins analyst J. Dubreuil now forecasts that the company will post earnings of $1.61 per share for the quarter, down from their prior forecast of $2.02. Desjardins currently has a “Hold” rating and a $64.00 target price on the stock. The consensus estimate for Cogeco Communications’ current full-year earnings is $8.48 per share. Desjardins also issued estimates for Cogeco Communications’ Q4 2024 earnings at $1.68 EPS, FY2024 earnings at $7.50 EPS and FY2025 earnings at $6.73 EPS.

Cogeco Communications (TSE:CCA) last issued its quarterly earnings data on Thursday, April 11th. The company reported C$2.21 earnings per share for the quarter, topping the consensus estimate of C$1.88 by C$0.33. The company had revenue of C$730.50 million for the quarter, compared to analysts’ expectations of C$735.00 million. Cogeco Communications had a return on equity of 11.58% and a net margin of 12.47%.

Other equities research analysts have also issued research reports about the stock. Scotiabank lowered their target price on shares of Cogeco Communications from C$77.00 to C$73.50 and set a “sector perform” rating for the company in a report on Monday. BMO Capital Markets boosted their target price on Cogeco Communications from C$64.00 to C$65.00 and gave the company a “market perform” rating in a research report on Friday, January 12th. Canaccord Genuity Group reduced their price target on Cogeco Communications from C$63.00 to C$60.00 and set a “hold” rating on the stock in a report on Monday. Royal Bank of Canada boosted their price objective on Cogeco Communications from C$76.00 to C$79.00 and gave the company a “sector perform” rating in a report on Tuesday. Finally, TD Securities reduced their target price on Cogeco Communications from C$93.00 to C$90.00 and set a “buy” rating on the stock in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Cogeco Communications has a consensus rating of “Hold” and an average target price of C$69.69.

Cogeco Communications Stock Performance

TSE CCA opened at C$55.70 on Wednesday. The business’s 50 day moving average price is C$59.71 and its 200-day moving average price is C$58.44. Cogeco Communications has a fifty-two week low of C$50.78 and a fifty-two week high of C$72.56. The company has a market cap of C$1.68 billion, a P/E ratio of 6.69, a P/E/G ratio of 4.77 and a beta of 0.47. The company has a debt-to-equity ratio of 136.39, a quick ratio of 0.49 and a current ratio of 0.59.

Cogeco Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Thursday, May 9th will be given a dividend of $0.854 per share. This represents a $3.42 dividend on an annualized basis and a yield of 6.13%. The ex-dividend date of this dividend is Wednesday, April 24th. Cogeco Communications’s dividend payout ratio (DPR) is presently 41.11%.

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.