Brokerages Set Cogeco Communications Inc. (TSE:CCA) Target Price at C$74.33

Shares of Cogeco Communications Inc. (TSE:CCA) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is C$73.22.

Several equities analysts recently issued reports on the company. Scotiabank decreased their price objective on Cogeco Communications from C$74.25 to C$72.00 and set a “sector perform” rating for the company in a research report on Monday, April 13th. TD raised shares of Cogeco Communications from a “hold” rating to a “buy” rating and cut their price target for the company from C$85.00 to C$83.00 in a research note on Monday, April 13th. TD Securities upgraded shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Desjardins set a C$68.00 price objective on shares of Cogeco Communications and gave the stock a “hold” rating in a research report on Wednesday, July 15th. Finally, National Bank Financial lowered shares of Cogeco Communications from an “outperform” rating to a “hold” rating and dropped their price objective for the stock from C$75.00 to C$70.00 in a report on Friday.

Cogeco Communications Stock Performance

Shares of Cogeco Communications stock opened at C$63.31 on Wednesday. The stock’s fifty day simple moving average is C$64.36 and its 200 day simple moving average is C$67.01. The company has a current ratio of 0.47, a quick ratio of 0.49 and a debt-to-equity ratio of 241.79. The company has a market capitalization of C$2.66 billion, a PE ratio of -2.40, a PEG ratio of 4.77 and a beta of 0.93. Cogeco Communications has a 12 month low of C$60.89 and a 12 month high of C$77.40.

Cogeco Communications (TSE:CCA) last posted its earnings results on Wednesday, July 15th. The company reported C$2.35 earnings per share (EPS) for the quarter. The firm had revenue of C$696.68 million during the quarter. Cogeco Communications had a negative return on equity of 38.76% and a negative net margin of 39.56%. On average, research analysts predict that Cogeco Communications will post 8.4900498 EPS for the current year.

Cogeco Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 7th. Shareholders of record on Thursday, May 7th were issued a dividend of $0.987 per share. This represents a $3.95 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date was Thursday, April 23rd. Cogeco Communications’s dividend payout ratio is -14.69%.

Cogeco Communications Company Profile

Cogeco Communications Inc is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.