Cogeco Communications Inc. (TSE:CCA) Receives C$71.28 Consensus Price Target from Analysts

Shares of Cogeco Communications Inc. (TSE:CCA) have earned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is C$71.28.

A number of research firms have weighed in on CCA. BMO Capital Markets lifted their price objective on Cogeco Communications from C$65.00 to C$70.00 in a research note on Thursday, September 5th. Royal Bank of Canada lifted their price target on Cogeco Communications from C$73.00 to C$76.00 and gave the company a “sector perform” rating in a research report on Monday, July 15th. Bank of America raised shares of Cogeco Communications from an “underperform” rating to a “buy” rating and raised their price objective for the stock from C$60.00 to C$65.00 in a research note on Wednesday, July 17th. Desjardins boosted their target price on shares of Cogeco Communications from C$64.00 to C$69.00 and gave the company a “hold” rating in a research note on Monday, July 15th. Finally, TD Securities upped their price target on Cogeco Communications from C$80.00 to C$85.00 and gave the stock a “buy” rating in a report on Monday, July 15th.

Cogeco Communications Price Performance

Shares of TSE CCA opened at C$68.26 on Thursday. Cogeco Communications has a 52 week low of C$50.78 and a 52 week high of C$71.69. The business’s 50 day moving average price is C$66.07 and its 200 day moving average price is C$59.27. The company has a quick ratio of 0.49, a current ratio of 0.41 and a debt-to-equity ratio of 142.88. The firm has a market cap of C$2.05 billion, a P/E ratio of 8.71, a P/E/G ratio of 4.77 and a beta of 0.59.

Cogeco Communications (TSE:CCA) last released its quarterly earnings data on Thursday, July 11th. The company reported C$2.45 EPS for the quarter, beating the consensus estimate of C$1.73 by C$0.72. Cogeco Communications had a net margin of 11.44% and a return on equity of 10.52%. The business had revenue of C$750.58 million for the quarter, compared to the consensus estimate of C$751.50 million. On average, sell-side analysts expect that Cogeco Communications will post 8.4900498 earnings per share for the current year.

Cogeco Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, July 25th were given a dividend of $0.854 per share. The ex-dividend date was Thursday, July 25th. This represents a $3.42 annualized dividend and a dividend yield of 5.00%. Cogeco Communications’s dividend payout ratio is currently 43.62%.

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.