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

Shares of Cogeco Communications Inc. (TSE:CCA) have been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is C$75.50.

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

Cogeco Communications Stock Down 2.2 %

Shares of TSE CCA opened at C$68.59 on Tuesday. Cogeco Communications has a 12 month low of C$50.82 and a 12 month high of C$75.09. The company has a current ratio of 0.41, a quick ratio of 0.49 and a debt-to-equity ratio of 142.88. The firm has a market capitalization of C$2.06 billion, a price-to-earnings ratio of 8.75, a PEG ratio of 4.77 and a beta of 0.59. The business has a 50-day moving average of C$70.27 and a 200-day moving average of C$63.41.

Cogeco Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 28th. Shareholders of record on Thursday, November 28th were issued a $0.922 dividend. This represents a $3.69 annualized dividend and a yield of 5.38%. This is an increase from Cogeco Communications’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Thursday, November 14th. Cogeco Communications’s payout ratio is 43.62%.

Insider Activity

In other Cogeco Communications news, Director Jacques Royer sold 657 shares of Cogeco Communications stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of C$68.86, for a total value of C$45,241.02. Following the completion of the sale, the director now owns 1 shares of the company’s stock, valued at approximately C$68.86. The trade was a 99.85 % decrease in their position. Also, Director Robin Anne Bienenstock acquired 2,156 shares of Cogeco Communications stock in a transaction that occurred on Friday, November 29th. The shares were purchased at an average price of C$69.66 per share, with a total value of C$150,189.33. Corporate insiders own 0.46% of the company’s stock.

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.