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

Cogeco Communications Inc. (TSE:CCA) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is C$76.17.

CCA has been the topic of several research reports. Canaccord Genuity Group upgraded shares of Cogeco Communications from a “hold” rating to a “buy” rating and upped their price objective for the stock from C$65.00 to C$77.00 in a report on Monday, November 4th. TD Securities raised their price target on shares of Cogeco Communications from C$85.00 to C$89.00 in a research report on Monday, November 4th. BMO Capital Markets boosted their price objective on Cogeco Communications from C$70.00 to C$80.00 in a report on Monday, November 4th. Royal Bank of Canada raised their target price on Cogeco Communications from C$76.00 to C$79.00 in a report on Thursday, October 10th. Finally, Scotiabank decreased their price target on Cogeco Communications from C$77.50 to C$75.50 in a report on Wednesday, January 15th.

Insiders Place Their Bets

In other Cogeco Communications news, Director Jacques Royer sold 657 shares of Cogeco Communications stock in a transaction dated 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 completion of the sale, the director now owns 1 shares of the company’s stock, valued at C$68.86. The trade was a 99.85 % decrease in their ownership of the stock. Also, Director Robin Anne Bienenstock bought 2,156 shares of the company’s stock in a transaction that occurred on 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. Corporate insiders own 0.46% of the company’s stock.

Cogeco Communications Stock Up 4.1 %

Shares of TSE CCA opened at C$62.55 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 0.41 and a debt-to-equity ratio of 142.88. The firm has a market cap of C$1.88 billion, a PE ratio of 7.98, a P/E/G ratio of 4.77 and a beta of 0.59. The company’s fifty day simple moving average is C$66.53 and its 200 day simple moving average is C$66.47. Cogeco Communications has a 12-month low of C$50.82 and a 12-month high of C$75.09.

Cogeco Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Monday, February 10th will be issued a $0.922 dividend. The ex-dividend date is Monday, January 27th. This represents a $3.69 annualized dividend and a dividend yield of 5.90%. Cogeco Communications’s payout ratio is currently 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.