Robin Anne Bienenstock Acquires 2,156 Shares of Cogeco Communications Inc. (TSE:CCA) Stock

Cogeco Communications Inc. (TSE:CCA) Director Robin Anne Bienenstock purchased 2,156 shares of Cogeco Communications stock in a transaction dated Friday, November 29th. The stock was bought at an average price of C$69.66 per share, for a total transaction of C$150,189.33.

Cogeco Communications Stock Up 4.7 %

Shares of Cogeco Communications stock opened at C$70.00 on Friday. The firm has a market cap of C$2.10 billion, a PE ratio of 8.93, a P/E/G ratio of 4.77 and a beta of 0.59. Cogeco Communications Inc. has a 52-week low of C$50.82 and a 52-week high of C$72.91. The business’s 50 day simple moving average is C$69.65 and its 200 day simple moving average is C$62.36. 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 firm also recently announced a quarterly dividend, which was paid on Thursday, November 28th. Investors of record on Thursday, November 28th were given a $0.922 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.69 dividend on an annualized basis and a yield of 5.27%. This is an increase from Cogeco Communications’s previous quarterly dividend of $0.85. Cogeco Communications’s dividend payout ratio (DPR) is 43.62%.

Analyst Ratings Changes

CCA has been the subject of several recent analyst reports. Scotiabank upped their target price on shares of Cogeco Communications from C$73.50 to C$77.50 in a research note on Monday, November 4th. National Bankshares upgraded shares of Cogeco Communications from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from C$64.00 to C$80.00 in a research report on Friday, September 20th. Canaccord Genuity Group upgraded Cogeco Communications from a “hold” rating to a “buy” rating and lifted their target price for the stock from C$65.00 to C$77.00 in a report on Monday, November 4th. BMO Capital Markets increased their price target on Cogeco Communications from C$70.00 to C$80.00 in a report on Monday, November 4th. Finally, National Bank Financial upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 19th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$75.50.

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.