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

Shares of Cogeco Communications Inc. (TSE:CCA) have been given a consensus rating of “Moderate Buy” by the nine analysts that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is C$77.06.

Several equities research analysts have recently commented on the stock. BMO Capital Markets raised their target price on shares of Cogeco Communications from C$70.00 to C$80.00 in a research report on Monday, November 4th. Canaccord Genuity Group raised Cogeco Communications from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$65.00 to C$77.00 in a research report on Monday, November 4th. TD Securities increased their target price on Cogeco Communications from C$85.00 to C$89.00 in a research report on Monday, November 4th. Royal Bank of Canada lifted their price target on Cogeco Communications from C$76.00 to C$79.00 in a research report on Thursday, October 10th. Finally, Scotiabank increased their price objective on Cogeco Communications from C$73.50 to C$77.50 in a report on Monday, November 4th.

Insider Transactions at Cogeco Communications

In other Cogeco Communications news, Director Robin Anne Bienenstock acquired 2,156 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was purchased at an average price of C$69.66 per share, with a total value of C$150,189.33. Also, Director Jacques Royer sold 657 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of C$68.86, for a total value of C$45,241.02. Following the completion of the transaction, the director now directly owns 1 shares in the company, valued at approximately C$68.86. This represents a 99.85 % decrease in their ownership of the stock. 0.46% of the stock is currently owned by company insiders.

Cogeco Communications Stock Performance

TSE:CCA opened at C$65.44 on Tuesday. The company has a debt-to-equity ratio of 142.88, a quick ratio of 0.49 and a current ratio of 0.41. Cogeco Communications has a fifty-two week low of C$50.82 and a fifty-two week high of C$75.09. The firm has a market cap of C$1.96 billion, a PE ratio of 8.35, a price-to-earnings-growth ratio of 4.77 and a beta of 0.59. The business has a 50 day moving average price of C$70.01 and a 200-day moving average price of C$63.71.

Cogeco Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 28th. Shareholders of record on Thursday, November 28th were given a $0.922 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This is an increase from Cogeco Communications’s previous quarterly dividend of $0.85. This represents a $3.69 annualized dividend and a yield of 5.64%. Cogeco Communications’s dividend payout ratio (DPR) 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.