Cogeco Communications Inc. (TSE:CCA) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Cogeco Communications Inc. (TSE:CCA) have been assigned an average rating of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is C$76.17.

Several equities research analysts recently weighed in on CCA shares. Canaccord Genuity Group raised shares of Cogeco Communications from a “hold” rating to a “buy” rating and upped their price objective for the stock from C$65.00 to C$77.00 in a report on Monday, November 4th. National Bankshares raised shares of Cogeco Communications from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$64.00 to C$80.00 in a research note on Friday, September 20th. BMO Capital Markets raised their price objective on shares of Cogeco Communications from C$70.00 to C$80.00 in a research note on Monday, November 4th. Scotiabank cut their target price on Cogeco Communications from C$77.50 to C$75.50 in a research report on Wednesday. Finally, CIBC dropped their price objective on Cogeco Communications from C$73.00 to C$71.00 in a research note on Wednesday.

Cogeco Communications Trading Down 2.5 %

TSE:CCA opened at C$61.86 on Friday. The stock has a market cap of C$1.86 billion, a price-to-earnings ratio of 7.89, a PEG 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 has a 1 year low of C$50.82 and a 1 year high of C$75.09. The business has a fifty day moving average of C$68.87 and a 200-day moving average of C$65.53.

Cogeco Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 28th. Stockholders of record on Thursday, November 28th were given a dividend of $0.922 per share. The ex-dividend date was Thursday, November 14th. This is a positive change from Cogeco Communications’s previous quarterly dividend of $0.85. This represents a $3.69 dividend on an annualized basis and a dividend yield of 5.96%. Cogeco Communications’s payout ratio is 43.62%.

Insider Activity at Cogeco Communications

In other Cogeco Communications news, Director Jacques Royer sold 657 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of C$68.86, for a total transaction of C$45,241.02. Following the sale, the director now directly owns 1 shares of the company’s stock, valued at C$68.86. The trade was a 99.85 % decrease in their position. Also, Director Robin Anne Bienenstock bought 2,156 shares of Cogeco Communications stock in a transaction dated Friday, November 29th. The stock was acquired at an average price of C$69.66 per share, with a total value of C$150,189.33. 0.46% of the stock is currently owned by corporate insiders.

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.