Cogeco Communications (TSE:CCA) Stock Gets Price Target Cut from Scotiabank

Cogeco Communications (TSE:CCA) had its price objective cut by Scotiabank from C$68.00 to C$64.50 in a research note issued to investors on Tuesday morning,BayStreet reports. They currently have a sector perform rating on the stock.

CCA has been the topic of a number of other research reports. Desjardins reduced their price objective on Cogeco Communications from C$68.00 to C$64.00 and set a “hold” rating on the stock in a research report on Wednesday, October 7th. National Bank Financial lowered their price objective on Cogeco Communications from C$70.00 to C$69.00 and set a “sector perform” rating on the stock in a research note on Monday, August 31st. Canadian Imperial Bank of Commerce dropped their target price on Cogeco Communications from C$71.00 to C$65.00 and set a “neutral” rating for the company in a report on Thursday, October 8th. Finally, Royal Bank Of Canada cut their target price on Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating for the company in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$71.17.

Cogeco Communications Price Performance

CCA stock opened at C$54.69 on Tuesday. The company has a debt-to-equity ratio of 241.79, a current ratio of 0.47 and a quick ratio of 0.49. The business has a 50 day simple moving average of C$56.26 and a 200-day simple moving average of C$60.92. The firm has a market capitalization of C$2.30 billion, a PE ratio of -2.07, a price-to-earnings-growth ratio of 4.77 and a beta of 1.08. Cogeco Communications has a 1 year low of C$48.18 and a 1 year high of C$77.40.

Cogeco Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, August 12th were paid a $0.9870 dividend. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $3.95 annualized dividend and a dividend yield of 7.2%. Cogeco Communications’s dividend payout ratio is -14.69%.

Cogeco Communications Company Profile

Cogeco Communications Inc is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.