Cogeco Communications Inc. (TSE:CCA) Director Jacques Royer Sells 657 Shares

Cogeco Communications Inc. (TSE:CCA) Director Jacques Royer sold 657 shares of the 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 transaction, the director now directly owns 1 shares in the company, valued at approximately C$68.86. This trade represents a 99.85 % decrease in their position.

Cogeco Communications Stock Performance

Cogeco Communications Inc. has a fifty-two week low of C$50.82 and a fifty-two week high of C$72.91. The stock has a market cap of C$2.07 billion, a PE ratio of 8.77, a P/E/G ratio of 4.77 and a beta of 0.59. The business has a 50-day moving average price of C$69.31 and a 200-day moving average price of C$61.62. 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 company also recently declared a quarterly dividend, which will be paid on Thursday, November 28th. Shareholders of record on Thursday, November 28th will be given a dividend of $0.922 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.69 annualized dividend and a yield of ∞. This is a boost from Cogeco Communications’s previous quarterly dividend of $0.85. Cogeco Communications’s dividend payout ratio is presently 43.62%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CCA. National Bankshares raised shares of 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. TD Securities lifted their price target on shares of Cogeco Communications from C$85.00 to C$89.00 in a research report on Monday, November 4th. Royal Bank of Canada increased their price target on Cogeco Communications from C$76.00 to C$79.00 in a research report on Thursday, October 10th. Canaccord Genuity Group raised Cogeco Communications from a “hold” rating to a “buy” rating and increased their target price for the stock from C$65.00 to C$77.00 in a report on Monday, November 4th. Finally, BMO Capital Markets upped their price objective on shares of Cogeco Communications from C$70.00 to C$80.00 in a research report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Cogeco Communications currently has a consensus rating of “Moderate Buy” and a consensus price target 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.