CIBC Sticks to Their Hold Rating for Cogeco Communications (CGEAF)

CIBC analyst Stephanie Price maintained a Hold rating on Cogeco Communications (CGEAF – Research Report) today and set a price target of C$71.00. The company’s shares closed last Friday at $42.00.

According to TipRanks, Price is a 4-star analyst with an average return of 10.0% and a 57.92% success rate.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cogeco Communications with a $53.10 average price target, a 26.43% upside from current levels. In a report released on January 16, Desjardins also maintained a Hold rating on the stock with a C$72.00 price target.

Based on Cogeco Communications’ latest earnings release for the quarter ending November 30, the company reported a quarterly revenue of $738.7 million and a net profit of $100.59 million. In comparison, last year the company earned a revenue of $747.69 million and had a net profit of $89.49 million

Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CGEAF in relation to earlier this year.