Cogeco Communications Inc. (TSE:CCA) Receives C$77.06 Consensus Target Price from Brokerages

Cogeco Communications Inc. (TSE:CCA) has been assigned an average rating of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is C$77.06.

A number of research firms have recently weighed in on CCA. Scotiabank increased 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 upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 19th. Canaccord Genuity Group upgraded shares of Cogeco Communications from a “hold” rating to a “buy” rating and increased their price target for the company from C$65.00 to C$77.00 in a research report on Monday, November 4th. National Bankshares upgraded shares of Cogeco Communications from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$64.00 to C$80.00 in a report on Friday, September 20th. Finally, Royal Bank of Canada increased their target price on shares of Cogeco Communications from C$76.00 to C$79.00 in a report on Thursday, October 10th.

Cogeco Communications Price Performance

Shares of Cogeco Communications stock opened at C$67.43 on Friday. Cogeco Communications has a 1-year low of C$50.82 and a 1-year high of C$75.09. The firm’s 50-day moving average price is C$69.19 and its two-hundred day moving average price is C$65.38. The company has a current ratio of 0.41, a quick ratio of 0.49 and a debt-to-equity ratio of 142.88. The stock has a market capitalization of C$2.02 billion, a price-to-earnings ratio of 8.60, a P/E/G ratio of 4.77 and a beta of 0.59.

Cogeco Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 28th. Stockholders of record on Thursday, November 28th were issued a dividend of $0.922 per share. This represents a $3.69 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date was Thursday, November 14th. This is a positive change from Cogeco Communications’s previous quarterly dividend of $0.85. Cogeco Communications’s payout ratio is 43.62%.

Insider Buying and Selling at Cogeco Communications

In related news, Director Robin Anne Bienenstock acquired 2,156 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was purchased at an average cost of C$69.66 per share, with a total value of C$150,189.33. Also, Director Jacques Royer sold 657 shares of Cogeco Communications stock in a transaction on 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 transaction, the director now directly owns 1 shares in the company, valued at C$68.86. This represents a 99.85 % decrease in their ownership of the stock. Corporate insiders own 0.46% of the company’s stock.

About Cogeco Communications

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.