Cogeco (TSE:CGO) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Cogeco (TSE:CGO) from a hold rating to a buy rating in a research report report published on Monday, Marketbeat.com reports. Canaccord Genuity Group currently has C$77.00 price target on the stock, up from their previous price target of C$65.00.

Several other research analysts have also weighed in on the stock. TD Securities increased their target price on shares of Cogeco from C$99.00 to C$104.00 in a research note on Monday. CIBC lowered their target price on shares of Cogeco from C$69.00 to C$67.00 in a research note on Monday.

Cogeco Trading Down 0.6 %

Shares of CGO stock opened at C$61.56 on Monday. The company has a debt-to-equity ratio of 151.56, a current ratio of 0.44 and a quick ratio of 0.51. The firm has a market cap of C$486.94 million, a PE ratio of 7.34, a price-to-earnings-growth ratio of -0.28 and a beta of 0.34. The company has a 50-day moving average of C$58.31 and a two-hundred day moving average of C$54.13. Cogeco has a 1-year low of C$44.62 and a 1-year high of C$62.88.

Cogeco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 28th. Stockholders of record on Thursday, November 14th will be paid a $0.922 dividend. This is a positive change from Cogeco’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.69 annualized dividend and a dividend yield of 5.99%. Cogeco’s dividend payout ratio (DPR) is presently 40.76%.

Cogeco Company Profile

Cogeco Inc, through its subsidiaries, operates in the communications and media sectors in Canada and the United States. The company operates in two segments, Canadian Telecommunications and American Telecommunications. It provides a range of Internet, video, and phone services through advanced fibre optic and two-way telecommunications distribution networks primarily to residential customers, as well as business services under the Cogeco Connexion name in Quebec and Ontario; and Breezeline brand in the United States.