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

Shares of Cogeco Communications Inc. (TSE:CCA) have been given a consensus rating of “Moderate Buy” by the eleven brokerages that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$75.50.

A number of research analysts have commented on CCA shares. TD Securities upped their price target on Cogeco Communications from C$85.00 to C$89.00 in a research report on Monday, November 4th. National Bank Financial upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 19th. Canaccord Genuity Group upgraded shares of Cogeco Communications from a “hold” rating to a “buy” rating and lifted their price target for the company from C$65.00 to C$77.00 in a report on Monday, November 4th. Scotiabank upped their price objective on shares of Cogeco Communications from C$73.50 to C$77.50 in a report on Monday, November 4th. Finally, Royal Bank of Canada raised their target price on shares of Cogeco Communications from C$76.00 to C$79.00 in a research report on Thursday, October 10th.

Cogeco Communications Price Performance

CCA stock opened at C$66.83 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.49 and a debt-to-equity ratio of 142.88. The firm’s 50-day moving average price is C$69.60 and its two-hundred day moving average price is C$62.26. The stock has a market capitalization of C$2.00 billion, a price-to-earnings ratio of 8.52, a PEG ratio of 4.77 and a beta of 0.59. Cogeco Communications has a 12-month low of C$50.82 and a 12-month high of C$72.91.

Cogeco Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 28th. Investors of record on Thursday, November 28th were paid a dividend of $0.922 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.69 annualized dividend and a yield of 5.52%. This is a positive change from Cogeco Communications’s previous quarterly dividend of $0.85. Cogeco Communications’s 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 sale, the director now directly 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. 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.