Cogeco Communications (TSE:CCA) Price Target Raised to C$77.50 at Scotiabank

Cogeco Communications (TSE:CCA) had its target price upped by Scotiabank from C$73.50 to C$77.50 in a report issued on Monday, BayStreet.CA reports.

A number of other equities research analysts have also recently issued reports on the stock. TD Securities lifted their price target on shares of Cogeco Communications from C$85.00 to C$89.00 in a research note on Monday. National Bankshares raised shares of Cogeco Communications from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from C$64.00 to C$80.00 in a research note on Friday, September 20th. National Bank Financial upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 19th. Bank of America upgraded Cogeco Communications from an “underperform” rating to a “buy” rating and raised their price objective for the company from C$60.00 to C$65.00 in a report on Wednesday, July 17th. Finally, Desjardins raised their price objective on Cogeco Communications from C$64.00 to C$69.00 and gave the company a “hold” rating in a report on Monday, July 15th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Cogeco Communications has a consensus rating of “Moderate Buy” and an average price target of C$75.50.

Cogeco Communications Price Performance

Cogeco Communications stock opened at C$70.88 on Monday. The company’s fifty day moving average price is C$68.27 and its 200 day moving average price is C$60.73. Cogeco Communications has a 1 year low of C$50.78 and a 1 year high of C$72.40. The stock has a market capitalization of C$2.13 billion, a P/E ratio of 9.04, a P/E/G ratio of 4.77 and a beta of 0.59. The company has a debt-to-equity ratio of 142.88, a quick ratio of 0.49 and a current ratio of 0.41.

Cogeco Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 28th. Stockholders of record on Thursday, November 28th will be issued a dividend of $0.922 per share. This represents a $3.69 annualized dividend and a dividend yield of 5.20%. The ex-dividend date of this dividend is Thursday, November 14th. This is a positive change from Cogeco Communications’s previous quarterly dividend of $0.85. 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.