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

Cogeco Communications Inc. (TSE:CCA) has earned a consensus rating of “Moderate Buy” from the nine analysts that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$77.06.

A number of equities analysts recently weighed in on the stock. Scotiabank boosted their price target on shares of Cogeco Communications from C$73.50 to C$77.50 in a research report on Monday, November 4th. Canaccord Genuity Group upgraded Cogeco Communications from a “hold” rating to a “buy” rating and upped their price target for the company from C$65.00 to C$77.00 in a research report on Monday, November 4th. National Bank Financial raised Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 19th. National Bankshares upgraded 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 report on Friday, September 20th. Finally, BMO Capital Markets raised their target price on Cogeco Communications from C$70.00 to C$80.00 in a research note on Monday, November 4th.

Cogeco Communications Price Performance

Shares of Cogeco Communications stock opened at C$66.36 on Tuesday. The stock has a market capitalization of C$1.99 billion, a P/E ratio of 8.46, a PEG ratio of 4.77 and a beta of 0.59. The business has a 50 day simple moving average of C$69.98 and a two-hundred day simple moving average of C$63.78. Cogeco Communications has a 12 month low of C$50.82 and a 12 month high of C$75.09. The company has a debt-to-equity ratio of 142.88, a current ratio of 0.41 and a quick ratio of 0.49.

Cogeco Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 28th. Investors of record on Thursday, November 28th were given a dividend of $0.922 per share. This represents a $3.69 dividend on an annualized basis and a dividend yield of 5.56%. This is an increase from Cogeco Communications’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Thursday, November 14th. Cogeco Communications’s dividend payout ratio (DPR) is presently 43.62%.

Insider Buying and Selling at Cogeco Communications

In other news, Director Robin Anne Bienenstock bought 2,156 shares of the business’s stock in a transaction on Friday, November 29th. The shares were bought at an average price of C$69.66 per share, with a total value of C$150,189.33. Also, 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 value of C$45,241.02. Following the completion of the sale, the director now owns 1 shares in the company, valued at C$68.86. This represents a 99.85 % decrease in their position. 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.