Cogeco Communications (TSE:CCA) Raised to “Buy” at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Cogeco Communications (TSE:CCA) from a hold rating to a buy rating in a research report released on Monday, MarketBeat Ratings reports. The brokerage currently has C$77.00 target price on the stock, up from their previous target price of C$65.00.

Several other analysts have also weighed in on CCA. TD Securities upped their target price on Cogeco Communications from C$85.00 to C$89.00 in a report on Monday. National Bank Financial raised Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 19th. National Bankshares raised Cogeco Communications from a “sector perform” rating to an “outperform” rating and upped their target price for the company from C$64.00 to C$80.00 in a report on Friday, September 20th. Desjardins upped their target price on Cogeco Communications from C$64.00 to C$69.00 and gave the company a “hold” rating in a report on Monday, July 15th. Finally, BMO Capital Markets upped their target price on Cogeco Communications from C$65.00 to C$70.00 in a report on Thursday, September 5th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cogeco Communications presently has a consensus rating of “Moderate Buy” and an average price target of C$75.50.

Cogeco Communications Trading Up 0.2 %

Shares of CCA stock opened at C$70.88 on Monday. The business’s fifty day moving average price is C$68.27 and its 200 day moving average price is C$60.73. Cogeco Communications has a 1-year low of C$50.78 and a 1-year high of C$72.40. The firm has a market capitalization of C$2.13 billion, a PE ratio of 9.04, a P/E/G ratio of 4.77 and a beta of 0.59. 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 28th. Investors of record on Thursday, November 28th will be paid a dividend of $0.922 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.69 dividend on an annualized basis and a dividend yield of 5.20%. This is a positive change from Cogeco Communications’s previous quarterly dividend of $0.85. Cogeco Communications’s dividend payout ratio (DPR) is presently 43.62%.

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.