Cogeco Communications Inc. (TSE:CCA) Receives C$69.69 Consensus PT from Brokerages

Cogeco Communications Inc. (TSE:CCA) has been given an average recommendation of “Hold” by the nine brokerages that are covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is C$69.69.

A number of analysts recently weighed in on CCA shares. Desjardins decreased their price objective on shares of Cogeco Communications from C$68.00 to C$64.00 and set a “hold” rating for the company in a research note on Monday, April 15th. BMO Capital Markets lifted their target price on Cogeco Communications from C$64.00 to C$65.00 and gave the stock a “market perform” rating in a research report on Friday, January 12th. Royal Bank of Canada upped their price target on shares of Cogeco Communications from C$76.00 to C$79.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 16th. Scotiabank decreased their price objective on shares of Cogeco Communications from C$77.00 to C$73.50 and set a “sector perform” rating for the company in a report on Monday, April 15th. Finally, Canaccord Genuity Group dropped their target price on shares of Cogeco Communications from C$63.00 to C$60.00 and set a “hold” rating on the stock in a research note on Monday, April 15th.

Cogeco Communications Price Performance

TSE:CCA opened at C$56.46 on Monday. The company has a market capitalization of C$1.71 billion, a P/E ratio of 6.79, a P/E/G ratio of 4.77 and a beta of 0.47. The business’s 50-day moving average is C$57.94 and its 200 day moving average is C$57.89. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 136.39. Cogeco Communications has a 12 month low of C$50.78 and a 12 month high of C$72.56.

Cogeco Communications (TSE:CCA) last announced its quarterly earnings results on Thursday, April 11th. The company reported C$2.21 earnings per share for the quarter, topping the consensus estimate of C$1.88 by C$0.33. Cogeco Communications had a net margin of 12.47% and a return on equity of 11.58%. The company had revenue of C$730.50 million for the quarter, compared to analysts’ expectations of C$735.00 million. On average, equities research analysts forecast that Cogeco Communications will post 8.4785185 earnings per share for the current fiscal year.

Cogeco Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Thursday, April 25th will be given a $0.854 dividend. This represents a $3.42 annualized dividend and a dividend yield of 6.05%. The ex-dividend date of this dividend is Wednesday, April 24th. Cogeco Communications’s payout ratio is 41.11%.

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.