Cogeco (TSE:CGO) Rating Increased to Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Cogeco (TSE:CGO) from a hold rating to a buy rating in a research report report published on Monday, MarketBeat reports. Canaccord Genuity Group currently has C$77.00 price target on the stock, up from their previous price target of C$65.00.

CGO has been the topic of several other research reports. TD Securities increased their price target on shares of Cogeco from C$99.00 to C$104.00 in a report on Monday. CIBC cut their price objective on shares of Cogeco from C$69.00 to C$67.00 in a research note on Monday.

Cogeco Stock Down 0.1 %

Shares of CGO stock opened at C$61.49 on Monday. Cogeco has a fifty-two week low of C$44.62 and a fifty-two week high of C$62.88. The firm has a market capitalization of C$486.39 million, a PE ratio of 7.33, a P/E/G ratio of -0.28 and a beta of 0.34. The company has a debt-to-equity ratio of 151.56, a quick ratio of 0.51 and a current ratio of 0.44. The stock’s 50-day simple moving average is C$58.45 and its 200-day simple moving average is C$54.19.

Cogeco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 28th. Investors of record on Thursday, November 14th will be issued a dividend of $0.922 per share. This represents a $3.69 annualized dividend and a yield of 6.00%. This is a positive change from Cogeco’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, November 14th. Cogeco’s dividend payout ratio (DPR) is 40.76%.

About Cogeco

Cogeco Inc, through its subsidiaries, operates in the communications and media sectors in Canada and the United States. The company operates in two segments, Canadian Telecommunications and American Telecommunications. It provides a range of Internet, video, and phone services through advanced fibre optic and two-way telecommunications distribution networks primarily to residential customers, as well as business services under the Cogeco Connexion name in Quebec and Ontario; and Breezeline brand in the United States.