Cogeco Communications Stock (OTC:CGEAF), Trade Ideas

Cogeco Cable

COGECO CABLE INC (F)

Cogeco Communications Inc is a communication corporation. The company is a cable operator in North America operating in Canada. It provides Internet, video and phone services to residential, business and other customers. The reportable segments of the company are Canadian telecommunications and American telecommunications. The company earns majority of its revenue from American telecommunications. The company operates in Canada and United States.

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CGEAF

TSX:CCA


	Cogeco Communications Inc (TSX: CCA) (OTC: CGEAF) price target has been raised to C$130 from C$125 by BMO Capital Markets analyst Tim Casey.
	The analyst maintained the Market Perform rating on Cogeco shares.


BMO Capital Bumps Up Cogeco Communications Price Target By 4%

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WideOpenWest To Divest Five Service Areas in Two Separate Transactions Worth $1.8B

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Canadian telecom firm Cogeco Communications Inc’s (OTC: CGEAF) owners — the Audet family — rejected an enhanced hostile takeover attempt by Altice USA, Inc (NYSE: ATUS) on Sunday.

Altice USA&#39;s $8.4B Sweetened Takeover Bid Not Sweet Enough For Cogeco Owners

COGECO COMMUNICATIONS ORD by Cogeco Communications Inc

Cogeco Communications Inc

Scotiabank analyst Maher Yaghi maintains Cogeco Communications (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CGEAF#OTC">CGEAF</a>) with a Sector Perform and lowers the price target from C$86 to C$83.

Scotiabank Maintains Sector Perform on Cogeco Communications, Lowers Price Target to $83

Canaccord Genuity analyst Aravinda Galappatthige maintains Cogeco Communications (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CGEAF#OTC">CGEAF</a>) with a Hold and raises the price target from C$66 to C$70.

Canaccord Genuity Maintains Hold on Cogeco Communications, Raises Price Target to $70

<ul>
<li>Cogeco Communications Inc&nbsp;(TSX: CCA) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/cgeaf#OTC">CGEAF</a>) price target has been raised to C$130 from C$125 by&nbsp;BMO Capital Markets&nbsp;analyst Tim Casey.</li>
<li>The analyst maintained the Market Perform rating on Cogeco shares.</li>
<li>The analyst noted that the Q2 financials were in line. Subscriber trends reflect sequential improvement, albeit in line.</li>
<li>Casey believes U.S. broadband growth concerns remain, but Cogeco&#39;s superior internet offering, network edge-outs, and higher bulk activity should improve performance.</li>
<li>According to Casey, a lingering question still hovers over Cogeco&#39;s Canadian businesses on the path forward for its wireless plan. However, recent corporate activity (buybacks) suggests Cogeco may not be aggressively pursuing in-footprint Freedom Mobile assets.</li>
<li>Casey sees increased M&amp;A activity in the U.S. as a plus for Cogeco as it switches its asset mix toward more U.S. cable (particularly broadband). Still unsure about Cogeco&#39;s wireless intentions in Canada, the analyst do not feel they would be disruptive to present strategic priorities.</li>
<li>Price Action:&nbsp;CCA shares are trading higher by 2.50% at C$113.56 on TSX on the last check Monday.</li>
</ul>

<ul>
<li>WideOpenWest Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wow#NYSE">WOW</a>)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/21/06/n21781965/wow-to-sell-five-service-areas-in-two-separate-transactions-totaling-1-8-billion" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">inked two separate agreements</a>&nbsp;to sell its Cleveland and Columbus, Ohio, service areas and its Chicago, Evansville, Indiana, and Anne Arundel, Maryland, service areas for $1.125 billion and $661 million, respectively.</li>
<li>The total transaction gross proceeds will be $1.786 billion.</li>
<li>Cogeco Communications Inc&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/cgeaf#OTC">CGEAF</a>) subsidiary cable operator Atlantic Broadband has agreed to acquire the Cleveland and Columbus markets. Astound Broadband (dba RCN, Grande Communications, and Wave Broadband) has decided to acquire the Chicago, Evansville, and Anne Arundel service areas.</li>
<li>The divestments will enable WideOpenWest to reduce debt as it continued to execute its broadband-first strategy, including pursuing Edge-out and greenfield strategies and expanding commercial services, WideOpenWest CEO Teresa Elder said.</li>
<li>The transactions are likely to close in the second half of the year.</li>
<li>WideOpenWest held $2.2 billion in&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/21/05/n20933351/wow-reports-first-quarter-2021-results" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">long-term debt</a>&nbsp;as of Mar. 31, 2021.</li>
<li>Price action:&nbsp;WOW shares traded higher by 12.30% at $20.50 in the market session on the last check Wednesday.</li>
</ul>

Canadian telecom firm Cogeco Communications Inc&rsquo;s (OTC: <a class="ticker" href="https://www.benzinga.com/stock/cgeaf#OTC">CGEAF</a>) owners &mdash; the&nbsp;Audet family &mdash;&nbsp;rejected an enhanced hostile takeover attempt by Altice USA, Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/atus#NYSE">ATUS</a>) on Sunday.
What Happened: Louis Audet, the executive chairman of Cogeco, in a <a href="https://www.prnewswire.com/news-releases/gestion-audem-rejects-second-unsolicited-proposal-from-rogers-and-altice-301154512.html" style="text-decoration-line:none">statement</a> said that the family isn&#39;t interested in the&nbsp;$8.4 billion hostile bid made by Altice.
Audet claimed that this is &quot;not a negotiating strategy, but a definitive refusal.&rdquo;
Patrick Drahi-owned Altice had <a href="https://www.benzinga.com/pressreleases/20/10/g17951087/altice-usa-inc-presents-revised-and-enhanced-offer-to-acquire-cogeco-in-order-to-own-atlantic-broa" style="text-decoration-line:none">offered</a> $8.4 billion to acquire all outstanding shares of Cogeco, seeking to own all assets of the latter, including Atlantic Broadband.
Under Altice&rsquo;s terms, the Canadian operations of Cogeco would be sold to Rogers Communications Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rci#NYSE">RCI</a>) at an adjusted net price of nearly $3.9 billion.&nbsp;
Gestion Audem, the Audet family controlling company,&nbsp;holds 69% of all voting rights in Cogeco Inc, which in turn controls 82.9% of all rights in Cogeco Communications.
Why It Matters: Drahi&rsquo;s attempts to take over Cogeco are said to be an effort to consolidate operations of Atlantic Broadband with Altice USA, so it can take on rivals such as Comcast Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cmcsa#NASDAQ">CMCSA</a>), Charter Communications (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/chtr#NASDAQ">CHTR</a>) and Verizon Communications Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vz#NYSE">VZ</a>), the Financial Times&nbsp;<a href="https://www.ft.com/content/06bba2f7-48a0-46a3-9d58-44c1616fe5c3?list=intlhomepage" style="text-decoration-line:none">reported</a>.
The Audet family was offered $682 million for their ownership interests by the U.S. company, as per a statement from Altice. The cable company also made an offer to pay nearly $93 and $113 respectively to subordinate voting shareholders in Cogeco and Cogeco Communications.&nbsp;
Price Action: Altice USA shares closed 0.63% higher at $28.63 on Friday.&nbsp;

Altice USA's $8.4B Sweetened Takeover Bid Not Sweet Enough For Cogeco Owners

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Stocks That Hit 52-Week Highs On Friday

Cogeco Cable (OTC: <a class="ticker" href="/stock/cgeaf#OTC">CGEAF</a>) posted a rise in its Q3 profit from continuing operations. 

Cogeco Cable's quarterly profit from continuing operations climbed to C$53.2 million, or C$1.09 per share, versus C$52.4 million, or C$1.08 per share, in the year-earlier period.

Its revenue climbed 7.2%.

Earnings

Cogeco Cable Posts Higher Q3 Profit

Rite Aid Corp (NYSE: <a class="ticker" href="/stock/rad#NYSE">RAD</a>) reported a narrower fourth-quarter loss. Rite Aid's quarterly narrowed to $163.8 million, or $0.18 per share, versus a year-ago loss of $205.7 million, or $0.24 per share. Its revenue rose to $7.15 billion from $6.46 billion. Excluding a charge of $0.14 per share for LIFO accounting, Rite Aid lost $0.04 per share. However, analysts were expecting a loss of $0.14 per share on revenue of $7.12 billion. Rite Aid projects to post a 2013 loss of $0.13 to $0.31 per share, versus analysts' estimates for a loss of $0.24 per share. It expects 2013 same-store sales to be flat to up by 1.5%.

Fastenal Company (NASDAQ: <a class="ticker" href="/stock/fast#NASDAQ">FAST</a>) reported a rise in its first-quarter profit. Fastenal's quarterly profit rose to $100.19 million, or $0.34 per share, versus $79.55 million, or $0.27 per share, in the year-earlier period. Its sales climbed to $768.9 million from $640.6 million. Analysts expected earnings of $0.34 per share on revenue of $764.7 million.

ENGlobal Corp (NASDAQ: <a class="ticker" href="/stock/eng#NASDAQ">ENG</a>) posted a Q4 loss at $0.09 per share on revenue of $76.1 million.

Corus Entertainment Inc (OTC: <a class="ticker" href="/stock/cjref#OTC">CJREF</a>) reported a 16% surge in its second-quarter profit. Corus Entertainment's net income attributable to shareholders from continuing operations rose to C$31.6 million, or 38 Canadian cents per share, versus C$27.3 million, or 33 Canadian cents per share, in the year-earlier period. Its consolidated revenue climbed 8% to C$205.7 million.

Argan Inc (NYSE Amex: AGX) reported its Q4 earnings at $0.23 per share. Its consolidated net revenue rose to $55.9 million, from $31.8 million in the previous year.

Fast Retailing Co (OTC: <a class="ticker" href="/stock/frcoy#OTC">FRCOY</a>) reported a rise in its revenue and profits for the first half. It also lifted its full-year earnings forecast. Fast Retailing's net profit for the period surged 38.7% y/y to Y57.80 billion, from Y41.67 billion. Its sales climbed 14.9% to Y525.50 billion from Y457.33 billion. Its operating profit rose 11.8% to Y91.75 billion. For the full fiscal year, Fast Retailing lifted its net-profit forecast to Y81.50 billion, versus Y70 billion. It also raised its full-year view for sales and operating profit to Y941.5 billion and Y138.0 billion, respectively. It earlier expected sales of Y937 billion and operating profit of Y130.5 billion.

Cogeco Cable Inc (OTC: <a class="ticker" href="/stock/cgeaf#OTC">CGEAF</a>) posted a drop in its second-quarter profit from continuing operations. The company earned C$31.1 million, or 63 Canadian cents a share, from continuing operations, versus C$41.3 million, or 85 Canadian cents a share, in the year-earlier period. Its revenue climbed 8% to C$317.7 million.

Australian company Ten Network Holdings Ltd reported a 70% y/y decline in its first half net profit. Ten Network's net profit for the period fell to A$14.8 million, from A$49.5 million in the year-ago period. Its revenue dropped 11% to A$432.8 million, from A$484.2 million. Its earnings before interest, tax, depreciation and amortization came in at A$63.9 million, in line with its forecast of around A$64 million.

Banesto Banco Espanol de Credito SA (OTC: <a class="ticker" href="/stock/bnsty#OTC">BNSTY</a>) reported a drop in its first-quarter profit. Banesto's quarterly profit dipped 88% to EUR20.2 million, versus a year-ago profit of EUR169.5 million. Its net interest income fell 8.6% to EUR347.8 million.

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Earnings Roundup 

Cogeco Cable Inc (OTC: CGEAF) posted a drop in its second-quarter profit from continuing operations.

The company earned C$31.1 million, or 63 Canadian cents a share, from continuing operations, versus C$41.3 million, or 85 Canadian cents a share, in the year-earlier period. Its revenue climbed 8% to C$317.7 million.

Cogeco Cable Posts Decline In Q2 Profit

In a report released today, Aravinda Galappatthige from Canaccord Genuity assigned a Hold rating on Cogeco Communications (CGEAF – Research Report)...

Cogeco Communications: Navigating Leadership Change and Strategic Expansion Amidst Market Challenges

Scotiabank analyst Maher Yaghi maintained a Hold rating on Cogeco Communications (CGEAF – Research Report) today and set a price target of C$77.00....

Scotiabank Remains a Hold on Cogeco Communications (CGEAF)

RBC Capital analyst Drew Mcreynolds maintained a Hold rating on Cogeco Communications (CGEAF – Research Report) today and set a price target of C$7...

RBC Capital Reaffirms Their Hold Rating on Cogeco Communications (CGEAF)

Cogeco Communications (TSE:CCA) has released an update. Cogeco Communications reported a slight revenue decline of 0.8% to $730.5 million in the se...

Cogeco Communications Reports Mixed Q2 Results

Analyst Aravinda Galappatthige of Canaccord Genuity assigned a Hold rating on Cogeco Communications (CGEAF – Research Report), retaining the price ...

Hold Rating on Cogeco Communications Amid Mixed Quarterly Performance and Steady Growth Prospects

Cogeco Communications Non-GAAP EPS of $2.21, revenue of $730.5M; reaffirms outlook

Analysts have been eager to weigh in on the Communication Services sector with new ratings on Millicom International Cellular SA (TIGO – Research R...

Analysts Have Conflicting Sentiments on These Communication Services Companies: Millicom International Cellular SA (TIGO) and Cogeco Communications (OtherCGEAF)

Cogeco Communications Inc. (CGEAF) Q2 2024 Earnings Call Transcript

In a report released yesterday, Drew Mcreynolds from RBC Capital reiterated a Hold rating on Cogeco Communications (CGEAF – Research Report), with ...

Cogeco Communications (CGEAF) Gets a Hold from RBC Capital

Analysts fell to the sidelines weighing in on Cogeco Communications (CGEAF – Research Report) and Corus Entertainment (CJREF – Research Report) wit...

Analysts' Top Communication Services Picks: Cogeco Communications (CGEAF), Corus Entertainment (CJREF)

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Cogeco Communications

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Canaccord Genuity