Cogeco Communications Inc. (TSE:CCA) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Cogeco Communications Inc. (TSE:CCA) have earned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is C$77.06.

CCA has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on shares of Cogeco Communications from C$76.00 to C$79.00 in a report on Thursday, October 10th. National Bankshares upgraded Cogeco Communications from a “sector perform” rating to an “outperform” rating and increased their target price for the company from C$64.00 to C$80.00 in a research note on Friday, September 20th. National Bank Financial upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 19th. TD Securities upped their price target on Cogeco Communications from C$85.00 to C$89.00 in a report on Monday, November 4th. Finally, Canaccord Genuity Group upgraded Cogeco Communications from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$65.00 to C$77.00 in a report on Monday, November 4th.

Insider Buying and Selling at Cogeco Communications

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

Cogeco Communications Stock Performance

Shares of CCA stock opened at C$67.71 on Friday. The company has a market capitalization of C$2.03 billion, a price-to-earnings ratio of 8.64, a price-to-earnings-growth ratio of 4.77 and a beta of 0.59. The company has a debt-to-equity ratio of 142.88, a quick ratio of 0.49 and a current ratio of 0.41. Cogeco Communications has a one year low of C$50.82 and a one year high of C$75.09. The company’s 50-day moving average is C$69.24 and its 200 day moving average is C$65.27.

Cogeco Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 28th. Investors of record on Thursday, November 28th were given a dividend of $0.922 per share. This represents a $3.69 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date of this dividend was Thursday, November 14th. This is a boost from Cogeco Communications’s previous quarterly dividend of $0.85. Cogeco Communications’s dividend payout ratio is 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.