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

Cogeco Communications Inc. (TSE:CCA) has been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has given 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$75.50.

A number of brokerages have commented on CCA. 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. BMO Capital Markets lifted their price target on shares of Cogeco Communications from C$70.00 to C$80.00 in a research report on Monday, November 4th. Royal Bank of Canada upped their price objective on shares of Cogeco Communications from C$76.00 to C$79.00 in a report on Thursday, October 10th. Canaccord Genuity Group raised shares of Cogeco Communications from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$65.00 to C$77.00 in a research report on Monday, November 4th. Finally, Scotiabank upped their target price on shares of Cogeco Communications from C$73.50 to C$77.50 in a report on Monday, November 4th.

Cogeco Communications Price Performance

CCA stock opened at C$69.28 on Friday. Cogeco Communications has a 1 year low of C$50.82 and a 1 year high of C$72.91. The stock has a market capitalization of C$2.08 billion, a PE ratio of 8.84, a price-to-earnings-growth ratio of 4.77 and a beta of 0.59. The company’s 50-day moving average is C$69.52 and its 200-day moving average is C$61.92. 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 28th. Shareholders of record on Thursday, November 28th will be given 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 of this dividend is Thursday, November 14th. Cogeco Communications’s dividend payout ratio is presently 43.62%.

Insider Buying and Selling at Cogeco Communications

In other Cogeco Communications news, Director Jacques Royer sold 657 shares of the business’s stock in a transaction 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 transaction, the director now owns 1 shares of the company’s stock, valued at approximately C$68.86. The trade was a 99.85 % decrease in their ownership of the stock. Company insiders own 0.46% of the company’s stock.

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.