Brokers Offer Predictions for Cogeco Communications Inc.’s FY2024 Earnings (TSE:CCA)

Cogeco Communications Inc. (TSE:CCA) – Stock analysts at National Bank Financial boosted their FY2024 earnings per share estimates for Cogeco Communications in a note issued to investors on Tuesday, June 18th. National Bank Financial analyst A. Shine now expects that the company will earn $8.59 per share for the year, up from their previous estimate of $8.40. The consensus estimate for Cogeco Communications’ current full-year earnings is $8.34 per share. National Bank Financial also issued estimates for Cogeco Communications’ FY2025 earnings at $7.73 EPS.

Cogeco Communications (TSE:CCA) last announced its earnings results on Thursday, April 11th. The company reported C$2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.88 by C$0.33. The company had revenue of C$730.50 million during the quarter, compared to analysts’ expectations of C$735.00 million. Cogeco Communications had a net margin of 12.34% and a return on equity of 11.41%.

A number of other brokerages have also recently commented on CCA. Royal Bank of Canada increased their target price on Cogeco Communications from C$76.00 to C$79.00 and gave the company a “sector perform” rating in a report on Tuesday, April 16th. Canaccord Genuity Group dropped their price objective on Cogeco Communications from C$63.00 to C$60.00 and set a “hold” rating for the company in a research report on Monday, April 15th. TD Securities reduced their target price on shares of Cogeco Communications from C$90.00 to C$80.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Scotiabank lowered their price target 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, April 15th. Finally, Desjardins reduced their price objective on shares of Cogeco Communications from C$68.00 to C$64.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$68.44.

Cogeco Communications Trading Down 0.4 %

Shares of CCA opened at C$51.43 on Friday. The company has a debt-to-equity ratio of 143.84, a current ratio of 0.55 and a quick ratio of 0.49. Cogeco Communications has a 1-year low of C$50.78 and a 1-year high of C$72.56. The stock has a market cap of C$1.55 billion, a price-to-earnings ratio of 6.18, a price-to-earnings-growth ratio of 4.77 and a beta of 0.47. The firm has a 50 day simple moving average of C$54.77 and a 200-day simple moving average of C$57.97.

Cogeco Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Thursday, April 25th were paid a dividend of $0.854 per share. This represents a $3.42 dividend on an annualized basis and a yield of 6.64%. The ex-dividend date was Wednesday, April 24th. Cogeco Communications’s dividend payout ratio is currently 41.11%.

Cogeco Communications Company Profile

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.