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

Cogeco Communications Inc. (TSE:CCA) has earned a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the company, Marketbeat reports. Four investment 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 brokerages that have issued ratings on the stock in the last year is C$77.06.

Several analysts recently weighed in on CCA shares. Royal Bank of Canada upped their price objective on Cogeco Communications from C$76.00 to C$79.00 in a research report on Thursday, October 10th. Scotiabank lifted their price target on Cogeco Communications from C$73.50 to C$77.50 in a research note on Monday, November 4th. 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. National Bankshares upgraded Cogeco Communications from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$64.00 to C$80.00 in a research report on Friday, September 20th. Finally, TD Securities increased their target price on shares of Cogeco Communications from C$85.00 to C$89.00 in a research report on Monday, November 4th.

Insiders Place Their Bets

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

Cogeco Communications Price Performance

Shares of TSE CCA opened at C$67.71 on Friday. The company has a debt-to-equity ratio of 142.88, a current ratio of 0.41 and a quick ratio of 0.49. Cogeco Communications has a fifty-two week low of C$50.82 and a fifty-two week high of C$75.09. The stock has a market capitalization of C$2.03 billion, a PE ratio of 8.64, a P/E/G ratio of 4.77 and a beta of 0.59. The business has a fifty day moving average price of C$69.24 and a two-hundred day moving average price of C$65.27.

Cogeco Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 28th. Investors of record on Thursday, November 28th were given a $0.922 dividend. 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. This represents a $3.69 dividend on an annualized basis and a yield of 5.45%. Cogeco Communications’s payout ratio is presently 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.