Cogeco Communications Inc. (TSE:CCA) Receives C$77.06 Consensus PT from Brokerages

Cogeco Communications Inc. (TSE:CCA) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is C$76.17.

CCA has been the subject of a number of recent research reports. BMO Capital Markets increased their target price on Cogeco Communications from C$70.00 to C$80.00 in a research note on Monday, November 4th. National Bank Financial raised shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 19th. CIBC reduced their target price on shares of Cogeco Communications from C$73.00 to C$71.00 in a research report on Wednesday. Scotiabank decreased their target price on shares of Cogeco Communications from C$77.50 to C$75.50 in a research note on Wednesday. Finally, National Bankshares raised shares of Cogeco Communications from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from C$64.00 to C$80.00 in a research note on Friday, September 20th.

Cogeco Communications Stock Down 2.5 %

Shares of TSE CCA opened at C$61.86 on Friday. The stock has a fifty day moving average price of C$68.87 and a 200 day moving average price of C$65.53. The company has a current ratio of 0.41, a quick ratio of 0.49 and a debt-to-equity ratio of 142.88. Cogeco Communications has a 12-month low of C$50.82 and a 12-month high of C$75.09. The company has a market cap of C$1.86 billion, a P/E ratio of 7.89, a P/E/G ratio of 4.77 and a beta of 0.59.

Cogeco Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 28th. Stockholders of record on Thursday, November 28th were given a $0.922 dividend. This is a positive change from Cogeco Communications’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.69 annualized dividend and a dividend yield of 5.96%. Cogeco Communications’s dividend payout ratio (DPR) is presently 43.62%.

Insider Activity

In other news, Director Jacques Royer sold 657 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of C$68.86, for a total transaction of C$45,241.02. Following the sale, the director now directly owns 1 shares in the company, valued at approximately C$68.86. This represents a 99.85 % decrease in their position. Also, Director Robin Anne Bienenstock acquired 2,156 shares of Cogeco Communications stock in a transaction that occurred on Friday, November 29th. The shares were bought at an average price of C$69.66 per share, with a total value of C$150,189.33. Company insiders own 0.46% of the company’s stock.

About Cogeco Communications

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.