Scotiabank Issues Positive Forecast for Cogeco Communications (TSE:CCA) Stock Price

Cogeco Communications (TSE:CCA) had its target price increased by Scotiabank from C$73.50 to C$77.50 in a report released on Monday morning,BayStreet.CA reports.

A number of other analysts have also weighed in on CCA. National Bank Financial upgraded shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 19th. BMO Capital Markets increased their price target on Cogeco Communications from C$65.00 to C$70.00 in a research report on Thursday, September 5th. TD Securities upped their target price on Cogeco Communications from C$85.00 to C$89.00 in a research note on Monday. National Bankshares raised Cogeco Communications from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from C$64.00 to C$80.00 in a report on Friday, September 20th. Finally, Bank of America raised Cogeco Communications from an “underperform” rating to a “buy” rating and boosted their price target for the company from C$60.00 to C$65.00 in a report on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Cogeco Communications presently has a consensus rating of “Moderate Buy” and an average target price of C$75.50.

Cogeco Communications Price Performance

Shares of TSE CCA opened at C$71.50 on Monday. Cogeco Communications has a 52 week low of C$50.78 and a 52 week high of C$72.40. The company has a quick ratio of 0.49, a current ratio of 0.41 and a debt-to-equity ratio of 142.88. The firm has a market cap of C$2.15 billion, a P/E ratio of 9.12, a P/E/G ratio of 4.77 and a beta of 0.59. The business’s 50 day moving average price is C$68.40 and its 200 day moving average price is C$60.84.

Cogeco Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 28th. Stockholders of record on Thursday, November 28th will be given a $0.922 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This is a boost from Cogeco Communications’s previous quarterly dividend of $0.85. This represents a $3.69 dividend on an annualized basis and a dividend yield of 5.16%. Cogeco Communications’s payout ratio is 43.62%.

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.