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

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

Several equities research analysts recently weighed in on CCA shares. 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. TD Securities upped their price target on shares of Cogeco Communications from C$85.00 to C$89.00 in a report on Monday, November 4th. Scotiabank decreased their price objective on shares of Cogeco Communications from C$77.50 to C$75.50 in a research note on Wednesday. National Bankshares upgraded shares of Cogeco Communications from a “sector perform” rating to an “outperform” rating and boosted their price objective 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 target price on Cogeco Communications from C$76.00 to C$79.00 in a report on Thursday, October 10th.

Insiders Place Their Bets

In other Cogeco Communications news, Director Robin Anne Bienenstock purchased 2,156 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were bought at an average price of C$69.66 per share, for a total transaction 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 stock was sold at an average price of C$68.86, for a total transaction of C$45,241.02. Following the completion of the sale, the director now directly owns 1 shares in the company, valued at approximately C$68.86. This represents a 99.85 % decrease in their position. Insiders own 0.46% of the company’s stock.

Cogeco Communications Stock Down 0.5 %

TSE CCA opened at C$62.10 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.49 and a debt-to-equity ratio of 142.88. The company has a market cap of C$1.86 billion, a price-to-earnings ratio of 7.92, a PEG ratio of 4.77 and a beta of 0.59. The company has a 50 day moving average of C$68.48 and a 200-day moving average of C$65.68. Cogeco Communications has a 1-year low of C$50.82 and a 1-year high of C$75.09.

Cogeco Communications Increases Dividend

The company 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. The ex-dividend date was Thursday, November 14th. This represents a $3.69 dividend on an annualized basis and a yield of 5.94%. This is a positive change from Cogeco Communications’s previous quarterly dividend of $0.85. Cogeco Communications’s payout ratio is currently 43.62%.

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.