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

Cogeco Communications Inc. (TSE:CCA) has earned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is C$76.17.

Several equities research analysts recently weighed in on the company. Canaccord Genuity Group upgraded shares of Cogeco Communications from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$65.00 to C$77.00 in a research report on Monday, November 4th. CIBC lowered their target price on shares of Cogeco Communications from C$73.00 to C$71.00 in a report on Wednesday, January 15th. Scotiabank cut their price target on shares of Cogeco Communications from C$77.50 to C$75.50 in a report on Wednesday, January 15th. BMO Capital Markets lifted their price objective on Cogeco Communications from C$70.00 to C$80.00 in a report on Monday, November 4th. Finally, TD Securities boosted their target price on Cogeco Communications from C$85.00 to C$89.00 in a research report on Monday, November 4th.

Insider Activity

In other Cogeco Communications news, Director Jacques Royer sold 657 shares of Cogeco Communications 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 transaction, the director now owns 1 shares in the company, valued at C$68.86. This trade represents a 99.85 % decrease in their position. Also, Director Robin Anne Bienenstock acquired 2,156 shares of the stock in a transaction dated Friday, November 29th. The shares were bought at an average cost of C$69.66 per share, with a total value of C$150,189.33. Company insiders own 0.46% of the company’s stock.

Cogeco Communications Stock Up 0.7 %

CCA stock opened at C$63.35 on Wednesday. The company has a market cap of C$1.90 billion, a price-to-earnings ratio of 8.08, a price-to-earnings-growth ratio of 4.77 and a beta of 0.59. The company has a fifty day moving average price of C$66.09 and a 200 day moving average price of C$66.74. 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 has a 12 month low of C$50.82 and a 12 month high of C$75.09.

Cogeco Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Monday, February 10th were paid a dividend of $0.922 per share. This represents a $3.69 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date of this dividend was Monday, January 27th. Cogeco Communications’s dividend payout ratio is presently 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.