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

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

Several analysts recently commented on the company. BMO Capital Markets lifted their price objective on Cogeco Communications from C$70.00 to C$80.00 in a report on Monday, November 4th. National Bankshares raised shares of 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. TD Securities raised their price objective on shares of Cogeco Communications from C$85.00 to C$89.00 in a report on Monday, November 4th. Scotiabank upped their target price on shares of Cogeco Communications from C$73.50 to C$77.50 in a report on Monday, November 4th. Finally, Royal Bank of Canada lifted their price target on shares of Cogeco Communications from C$76.00 to C$79.00 in a research note on Thursday, October 10th.

Insider Activity at Cogeco Communications

In other Cogeco Communications news, Director Jacques Royer sold 657 shares of the 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 sale, the director now owns 1 shares in the company, valued at C$68.86. This trade represents a 99.85 % decrease in their ownership of the stock. 0.46% of the stock is currently owned by insiders.

Cogeco Communications Price Performance

TSE CCA opened at C$68.57 on Friday. The company has a debt-to-equity ratio of 142.88, a quick ratio of 0.49 and a current ratio of 0.41. The company 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 stock has a 50-day moving average of C$69.39 and a 200 day moving average of C$61.72. Cogeco Communications has a one year low of C$50.82 and a one year high of C$72.91.

Cogeco Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 28th. Stockholders of record on Thursday, November 28th will be paid a $0.922 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.69 annualized dividend and a dividend yield of 5.38%. This is an increase from Cogeco Communications’s previous quarterly dividend of $0.85. Cogeco Communications’s dividend 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.