Cogeco Communications’ adjusted EPS missed expectations in its fourth-quarter results. Canada held up better, while ongoing pressure in the U.S. weighed on the overall business.
Cogeco Communications Inc. (TSX: CCA, CCA.TO) reported fiscal 2026 fourth-quarter results after markets closed on October 28. Adjusted diluted EPS was C$2.05, 10.1% below the C$2.28 estimate. Revenue fell 1.9% year over year to C$695.5 million, and adjusted EBITDA declined 3.8% to C$344.8 million. Canadian telecommunications revenue and adjusted EBITDA grew, but U.S. declines pulled down the consolidated results. Cogeco also raised its quarterly dividend by 2% to C$1.007 per share.
Recent earnings trend
Cogeco Communications Inc
CCA.TO
CCA.TO
Cogeco Communications Inc
WealthAwesomeMarket cap
$2.24B
Div. yield
7.22%
Div. / share
$3.88
52W high
$74.96
52W low
$48.18
1W change
-2.58%
Beta
0.71
Analyst Price Targets
Based on analyst covering CCA · as of Oct 22, 2026
Wall Street analysts forecast CCA stock price to rise 28.1% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$68.23
+28.1% Upside
Previously C$68.91 on Oct 19, 2026
Current Price
C$53.28
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on CCA's historical volatility
30-Day Vol
34.2%
Annualized
90-Day Vol
25.2%
Annualized
Trend (90d)
-50.0%
Annualized drift
90d Mean
C$44.57
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$50.20 | C$44.62 – C$56.49 |
| 60 trading days | C$47.30 | C$40.03 – C$55.89 |
| 90 trading days | C$44.57 | C$36.33 – C$54.67 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 8 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 2 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-08-31 | 2026-10-28 | 2.0500 | 2.2800 | -10.1% |
| 2026-05-31 | 2026-07-15 | 2.3500 | 2.1700 | +8.3% |
| 2026-02-28 | 2026-04-09 | 1.9600 | 2.0700 | -5.3% |
| 2025-11-30 | 2026-01-14 | 2.1100 | 2.0500 | +2.9% |
| 2025-08-31 | 2025-10-29 | 2.0900 | 1.9400 | +7.7% |
| 2025-05-31 | 2025-07-15 | 1.8200 | 1.9400 | -6.2% |
Investor takeaway: The results show a clear divide between the company’s Canadian and U.S. businesses. Canadian Internet subscriber growth picked up, and adjusted EBITDA increased. In the U.S., customer losses and lower revenue continued to weigh on performance. Investors will be watching whether new U.S. offerings and the company’s transformation program can steady the business while preserving cash flow. The dividend increase extends Cogeco’s record of annual growth to 23 years, but investors still need to consider operating performance and the company’s financial position.
C$2.05 adjusted diluted EPS
That was 10.1% below the C$2.28 estimate. Reported diluted EPS was C$1.97. Adjusted EPS is a separate measure that excludes specified items.
Bull case
Canadian telecommunications revenue grew 0.6%, and adjusted EBITDA rose 3.3%, helped by Internet subscriber additions and operating efficiencies. Management also pointed to sales growth in wireless and oxio, the launch of a U.S. TV streaming service, and plans to expand its digital-first welo Internet brand. Cogeco raised its quarterly dividend by 2% to C$1.007 per share, marking 23 consecutive years of dividend growth.
Bear case
U.S. telecommunications revenue fell 4.6%, and adjusted EBITDA dropped 7.7%. Cogeco cited a smaller subscriber base, customer losses and intense competition. Consolidated revenue and adjusted EBITDA also declined, while adjusted EPS slipped from C$2.09 to C$2.05. Free cash flow, excluding network expansion projects, fell 20.8%. The results show how difficult it is to offset U.S. weakness while funding network investment and transformation efforts.
Best next step
Keep exploring this topic
If you want to go deeper, these are the most useful follow-up pages and tools for this topic.
Broker comparison
Best trading platforms in Canada
Compare $0-commission brokers before you act on a ticker story.
Safe cash
Best GIC rates in Canada
If the story makes you want to de-risk, compare guaranteed rates next.
HISA roundup
Best high-interest savings accounts
Keep dry powder in a no-fee savings account instead of chequing.
TFSA room
Check TFSA contribution room
Shelter the next contribution before you buy.
Wealth Awesome
Timely coverage of Canadian stocks, earnings, dividends, and market movers for DIY investors. Stories are checked against exchange data and public filings.
View Full Profile →✅ Reviewed by Certified Financial Professionals
This content has been reviewed by CFA® charterholders and Certified Financial Planners (CFP®) with over a decade of experience in Canadian financial markets. All information is fact-checked against official Canadian sources and regulations.
Why these credentials matter: CFA® charterholders complete 900+ hours of rigorous study in investment analysis and ethics. CFP® professionals are held to the highest standards of financial planning competency and fiduciary duty in Canada.
⚠️ Professional Disclaimer
This content is for educational purposes only and should not be considered personalized financial advice. While our team brings professional expertise, individual circumstances vary. For personalized guidance, consult with a qualified financial advisor, tax professional, or mortgage specialist.
