BMO Capital Remains a Hold on Cogeco Commun

By Ryan Adsit

Cogeco Commun (TSX: CCA), the Services sector company, has received a rating update from a Wall Street analyst yesterday. Analyst Tim Casey from BMO Capital remains neutral on the stock and has a C$75 price target.

According to TipRanks.com, Casey is a 4-star analyst with an average return of 7.4% and a 74.1% success rate. Casey covers the Services sector, focusing on stocks such as Shaw Communications Inc, Thomson Reuters Corp, and Corus Entertainment.

Cogeco Commun has an analyst consensus of Moderate Buy, with a price target consensus of C$77.36.

Based on Cogeco Commun’s latest earnings report for the quarter ending February 28, the company posted quarterly revenue of C$561 million and quarterly net profit of C$76.66 million. In comparison, last year the company earned revenue of C$540 million and had a GAAP net loss of C$387 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 Monday at $79.35, close to its 52-week high of $81.11.