Royal Bank of Canada Raises Cogeco Communications (TSE:CCA) Price Target to C$79.00

Cogeco Communications (TSE:CCA) had its price objective upped by Royal Bank of Canada from C$76.00 to C$79.00 in a research report report published on Tuesday morning, BayStreet.CA reports. They currently have a sector perform rating on the stock.

Other analysts have also recently issued research reports about the stock. CIBC cut their target price on shares of Cogeco Communications from C$65.00 to C$63.00 and set a neutral rating for the company in a research note on Monday, December 18th. Canaccord Genuity Group cut their target price on shares of Cogeco Communications from C$63.00 to C$60.00 and set a hold rating for the company in a research note on Monday, April 15th. Scotiabank dropped 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 research note on Monday, April 15th. BMO Capital Markets upped their price objective on shares of Cogeco Communications from C$64.00 to C$65.00 and gave the company a market perform rating in a research note on Friday, January 12th. Finally, TD Securities dropped their price objective on shares of Cogeco Communications from C$93.00 to C$90.00 and set a buy rating for the company in a research note on Monday, April 15th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of C$69.69.

Cogeco Communications Stock Up 1.1 %

CCA stock opened at C$56.58 on Tuesday. The stock has a market capitalization of C$1.71 billion, a P/E ratio of 6.80, a P/E/G ratio of 4.77 and a beta of 0.47. The firm has a 50-day simple moving average of C$59.50 and a 200-day simple moving average of C$58.41. The company has a quick ratio of 0.49, a current ratio of 0.59 and a debt-to-equity ratio of 136.39. Cogeco Communications has a 52 week low of C$50.78 and a 52 week high of C$72.56.

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

Cogeco Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Thursday, April 25th will be paid a dividend of $0.854 per share. The ex-dividend date is Wednesday, April 24th. This represents a $3.42 annualized dividend and a yield of 6.04%. Cogeco Communications’s dividend payout ratio is presently 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.