Cogeco Communications (TSE:CCA) Price Target Raised to C$89.00

Cogeco Communications (TSE:CCA) had its target price upped by TD Securities from C$85.00 to C$89.00 in a report published on Monday morning, BayStreet.CA reports.

Several other research analysts have also recently weighed in on CCA. Desjardins boosted their price target on Cogeco Communications from C$64.00 to C$69.00 and gave the stock a “hold” rating in a research note on Monday, July 15th. National Bankshares upgraded Cogeco Communications from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from C$64.00 to C$80.00 in a research note on Friday, September 20th. Bank of America upgraded Cogeco Communications from an “underperform” rating to a “buy” rating and boosted their price target for the stock from C$60.00 to C$65.00 in a research note on Wednesday, July 17th. National Bank Financial upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 19th. Finally, BMO Capital Markets upped their price objective on Cogeco Communications from C$65.00 to C$70.00 in a research report on Thursday, September 5th. 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. According to MarketBeat, Cogeco Communications presently has an average rating of “Moderate Buy” and a consensus price target of C$75.50.

Cogeco Communications Stock Up 0.2 %

CCA stock opened at C$70.88 on Monday. Cogeco Communications has a 1-year low of C$50.78 and a 1-year high of C$72.40. The business has a fifty day moving average price of C$68.27 and a 200-day moving average price of C$60.73. The company has a debt-to-equity ratio of 142.88, a current ratio of 0.41 and a quick ratio of 0.49. The stock has a market capitalization of C$2.13 billion, a P/E ratio of 9.04, a P/E/G ratio of 4.77 and a beta of 0.59.

Cogeco Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 28th. Shareholders of record on Thursday, November 28th will be issued a dividend of $0.922 per share. This represents a $3.69 annualized dividend and a yield of 5.20%. The ex-dividend date of this dividend is Thursday, November 14th. This is a positive change from Cogeco Communications’s previous quarterly dividend of $0.85. Cogeco Communications’s payout ratio 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.