Analysts Set Cogeco Communications Inc. (TSE:CCA) PT at C$75.50

Shares of Cogeco Communications Inc. (TSE:CCA) have been given a consensus rating of “Moderate Buy” by the eleven brokerages that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is C$75.50.

CCA has been the topic of a number of recent research reports. Canaccord Genuity Group raised shares of Cogeco Communications from a “hold” rating to a “buy” rating and lifted their price target for the company from C$65.00 to C$77.00 in a research report on Monday, November 4th. National Bankshares upgraded shares of Cogeco Communications from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$64.00 to C$80.00 in a report on Friday, September 20th. BMO Capital Markets increased their price target on Cogeco Communications from C$70.00 to C$80.00 in a report on Monday, November 4th. Scotiabank boosted their price objective on Cogeco Communications from C$73.50 to C$77.50 in a research note on Monday, November 4th. Finally, Royal Bank of Canada increased their target price on Cogeco Communications from C$76.00 to C$79.00 in a research note on Thursday, October 10th.

Insiders Place Their Bets

In other Cogeco Communications news, Director Jacques Royer sold 657 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of C$68.86, for a total transaction of C$45,241.02. Following the transaction, the director now owns 1 shares of the company’s stock, valued at C$68.86. This trade represents a 99.85 % decrease in their position. 0.46% of the stock is owned by company insiders.

Cogeco Communications Stock Performance

Cogeco Communications stock opened at C$67.01 on Friday. The company has a market cap of C$2.01 billion, a price-to-earnings ratio of 8.75, a price-to-earnings-growth ratio of 4.77 and a beta of 0.59. Cogeco Communications has a 12 month low of C$50.82 and a 12 month high of C$72.91. 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’s 50-day moving average is C$69.57 and its 200-day moving average is C$62.01.

Cogeco Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 28th. Investors of record on Thursday, November 28th will be issued 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 annualized dividend and a yield of 5.50%. Cogeco Communications’s dividend payout ratio 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.