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

Cogeco Communications Inc. (TSE:CCA) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is C$77.06.

Several research analysts have issued reports on CCA shares. TD Securities boosted their target price on Cogeco Communications from C$85.00 to C$89.00 in a research report on Monday, November 4th. Royal Bank of Canada lifted their target price on Cogeco Communications from C$76.00 to C$79.00 in a research report on Thursday, October 10th. National Bank Financial upgraded shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 19th. BMO Capital Markets boosted their price objective on shares of Cogeco Communications from C$70.00 to C$80.00 in a research report on Monday, November 4th. Finally, Scotiabank upped their target price on shares of Cogeco Communications from C$73.50 to C$77.50 in a research note on Monday, November 4th.

Insider Buying and Selling

In other news, Director Robin Anne Bienenstock purchased 2,156 shares of the business’s stock in a transaction on Friday, November 29th. The shares were acquired at an average cost of C$69.66 per share, with a total value of C$150,189.33. Also, Director Jacques Royer sold 657 shares of the company’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 transaction, the director now directly owns 1 shares in the company, valued at approximately C$68.86. The trade was a 99.85 % decrease in their ownership of the stock. 0.46% of the stock is currently owned by insiders.

Cogeco Communications Trading Down 1.1 %

Shares of CCA opened at C$65.44 on Tuesday. Cogeco Communications has a twelve month low of C$50.82 and a twelve month high of C$75.09. 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 company’s fifty day simple moving average is C$70.01 and its 200-day simple moving average is C$63.71. The company has a market cap of C$1.96 billion, a P/E ratio of 8.35, a P/E/G ratio of 4.77 and a beta of 0.59.

Cogeco Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 28th. Stockholders of record on Thursday, November 28th were paid a dividend of $0.922 per share. The ex-dividend date was Thursday, November 14th. This is an increase 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 5.64%. Cogeco Communications’s dividend payout ratio (DPR) is currently 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.