Cogeco Communications (TSE:CCA – Free Report) had its price objective hoisted by BMO Capital Markets from C$65.00 to C$70.00 in a report published on Thursday, BayStreet.CA reports.
Other research analysts have also recently issued reports about the stock. Bank of America upgraded shares of Cogeco Communications from an underperform rating to a buy rating and boosted their target price for the company from C$60.00 to C$65.00 in a research note on Wednesday, July 17th. Desjardins boosted their target price on shares of Cogeco Communications from C$64.00 to C$69.00 and gave the company a hold rating in a research note on Monday, July 15th. Royal Bank of Canada boosted their target price on shares of Cogeco Communications from C$73.00 to C$76.00 and gave the company a sector perform rating in a research note on Monday, July 15th. Finally, TD Securities boosted their target price on shares of Cogeco Communications from C$80.00 to C$85.00 and gave the company a buy rating in a research note on Monday, July 15th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of C$69.39.
Read Our Latest Research Report on CCA
Cogeco Communications Stock Up 0.5 %
Cogeco Communications (TSE:CCA – Get Free Report) last released its quarterly earnings results on Thursday, July 11th. The company reported C$2.45 earnings per share for the quarter, topping the consensus estimate of C$1.73 by C$0.72. Cogeco Communications had a net margin of 11.44% and a return on equity of 10.52%. The business had revenue of C$750.58 million for the quarter, compared to analysts’ expectations of C$751.50 million. Research analysts predict that Cogeco Communications will post 8.2150127 EPS for the current fiscal year.
Cogeco Communications Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, July 25th were given a $0.854 dividend. This represents a $3.42 annualized dividend and a dividend yield of 5.25%. The ex-dividend date of this dividend was Thursday, July 25th. Cogeco Communications’s dividend payout ratio (DPR) is currently 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.
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