Cogeco Communications Inc. (TSE:CCA) Director Buys C$150,189.33 in Stock

Cogeco Communications Inc. (TSE:CCA) Director Robin Anne Bienenstock purchased 2,156 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were purchased at an average cost of C$69.66 per share, with a total value of C$150,189.33.

Cogeco Communications Trading Up 4.7 %

Shares of TSE:CCA opened at C$70.00 on Monday. Cogeco Communications Inc. has a 52-week low of C$50.82 and a 52-week high of C$72.91. The stock has a market cap of C$2.10 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 4.77 and a beta of 0.59. 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 business has a 50-day moving average price of C$69.65 and a 200-day moving average price of C$62.36.

Cogeco Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 28th. Shareholders of record on Thursday, November 28th were given a dividend of $0.922 per share. The ex-dividend date of this dividend 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 yield of 5.27%. Cogeco Communications’s dividend payout ratio (DPR) is currently 43.62%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CCA shares. TD Securities increased their target price on shares of Cogeco Communications from C$85.00 to C$89.00 in a research report on Monday, November 4th. Scotiabank upped their price target on Cogeco Communications from C$73.50 to C$77.50 in a research report on Monday, November 4th. Canaccord Genuity Group raised Cogeco Communications from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$65.00 to C$77.00 in a research report on Monday, November 4th. National Bankshares raised Cogeco Communications from a “sector perform” rating to an “outperform” rating and upped their target price for the company from C$64.00 to C$80.00 in a research report on Friday, September 20th. Finally, Royal Bank of Canada raised their price target on Cogeco Communications from C$76.00 to C$79.00 in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cogeco Communications presently has a consensus rating of “Moderate Buy” and an average target price of C$75.50.

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.