Cogeco Communications Inc. Expected to Earn Q3 2024 Earnings of $1.61 Per Share (TSE:CCA)

Cogeco Communications Inc. (TSE:CCA) – Equities researchers at Desjardins dropped their Q3 2024 EPS estimates for Cogeco Communications in a research note issued on Monday, April 15th. Desjardins analyst J. Dubreuil now forecasts that the company will earn $1.61 per share for the quarter, down from their previous estimate 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, beating analysts’ consensus estimates of C$1.88 by C$0.33. The company had revenue of C$730.50 million for the quarter, compared to the consensus estimate of C$735.00 million. Cogeco Communications had a net margin of 12.47% and a return on equity of 11.58%.

A number of other brokerages also recently weighed in on CCA. Royal Bank of Canada increased their price objective on shares of Cogeco Communications from C$76.00 to C$79.00 and gave the company a “sector perform” rating in a research report on Tuesday. BMO Capital Markets upped their target price on shares of Cogeco Communications from C$64.00 to C$65.00 and gave the company a “market perform” rating in a report on Friday, January 12th. Scotiabank reduced 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. TD Securities reduced their target price on shares of Cogeco Communications from C$93.00 to C$90.00 and set a “buy” rating for the company in a report on Monday. Finally, Canaccord Genuity Group reduced their target price on shares of Cogeco Communications from C$63.00 to C$60.00 and set a “hold” rating for the company in a report on Monday. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$69.69.

Cogeco Communications Stock Performance

Cogeco Communications stock traded down C$0.75 during midday trading on Wednesday, reaching C$55.70. 30,916 shares of the company traded hands, compared to its average volume of 99,204. The firm has a market capitalization of C$1.68 billion, a price-to-earnings ratio of 6.69, a price-to-earnings-growth ratio of 4.77 and a beta of 0.47. The business has a 50 day moving average of C$59.71 and a two-hundred day moving average of C$58.44. Cogeco Communications has a 12 month low of C$50.78 and a 12 month high of C$72.56. The company has a debt-to-equity ratio of 136.39, a current ratio of 0.59 and a quick ratio of 0.49.

Cogeco Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Thursday, April 25th will be paid a dividend of $0.854 per share. The ex-dividend date is Wednesday, April 24th. This represents a $3.42 annualized dividend and a yield of 6.13%. Cogeco Communications’s payout ratio is 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.