Cogeco Commun (TSX: CCA), the Services sector company, has received a rating update from a Wall Street analyst yesterday. Analyst Drew Mcreynolds from RBC Capital reiterated a Hold rating, with a C$83 price target.
According to TipRanks.com, Mcreynolds is a 4-star analyst with an average return of 5.2% and a 53.3% success rate. Mcreynolds covers the Services sector, focusing on stocks such as Points International, Thomson Reuters Corp, and DHX Media.
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Cogeco Commun has an analyst consensus of Moderate Buy, with a price target consensus of C$79.
Based on Cogeco Commun’s latest earnings release for the quarter ending May 31, the company reported a quarterly net profit of C$61.26 million. In comparison, last year the company had a net profit of C$71.34 million.
Cogeco Communications, Inc. is a telecommunications company, which is a hybrid fibre coaxial cable operator in Ontario and Quebec. It provides cable television, high speed Internet, telephony, managed information technology and infrastructure and other telecommunications services.
The company’s shares closed on Friday at C$64.45, close to its 52-week low of C$62.81.
