Cogeco Communications Inc. (TSE:CCA) Receives C$75.50 Consensus Price Target from Brokerages

Shares of Cogeco Communications Inc. (TSE:CCA) have been given an average rating of “Moderate Buy” by the eleven analysts that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$75.50.

CCA has been the topic of several research analyst reports. TD Securities raised their price objective on Cogeco Communications from C$85.00 to C$89.00 in a research note on Monday, November 4th. Canaccord Genuity Group raised shares of Cogeco Communications from a “hold” rating to a “buy” rating and increased their target price for the stock from C$65.00 to C$77.00 in a report on Monday, November 4th. Royal Bank of Canada lifted their price target on shares of Cogeco Communications from C$76.00 to C$79.00 in a report on Thursday, October 10th. BMO Capital Markets increased their price objective on shares of Cogeco Communications from C$70.00 to C$80.00 in a research note on Monday, November 4th. Finally, Scotiabank boosted their target price on shares of Cogeco Communications from C$73.50 to C$77.50 in a research note on Monday, November 4th.

Insider Buying and Selling

In other Cogeco Communications news, Director Jacques Royer sold 657 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of C$68.86, for a total transaction of C$45,241.02. Following the completion of the sale, the director now owns 1 shares of the company’s stock, valued at approximately C$68.86. This represents a 99.85 % decrease in their position. 0.46% of the stock is owned by corporate insiders.

Cogeco Communications Stock Up 1.0 %

Shares of CCA opened at C$69.28 on Friday. The firm has a 50 day simple moving average of C$69.52 and a two-hundred day simple moving average of C$61.92. The company has a market cap of C$2.08 billion, a P/E ratio of 8.84, a P/E/G ratio of 4.77 and a beta of 0.59. Cogeco Communications has a one year low of C$50.82 and a one year high of C$72.91. The company has a debt-to-equity ratio of 142.88, a current ratio of 0.41 and a quick ratio of 0.49.

Cogeco Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 28th. Investors of record on Thursday, November 28th will be issued a $0.922 dividend. This represents a $3.69 dividend on an annualized basis and a yield of 5.32%. This is an increase from Cogeco Communications’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, November 14th. Cogeco Communications’s dividend payout ratio is presently 43.62%.

Cogeco Communications Company Profile

Cogeco Communications Inc operates as a telecommunications corporation in Canada and the United States. It operates in two segments, Canadian Telecommunications and American Telecommunications. The company offers Internet, video, and Internet protocol (IP) based telephony services to residential and small business customers through its two-way broadband fiber networks.