Cogeco Communications Inc. (CCA) To Go Ex-Dividend on April 24th

Cogeco Communications Inc. (TSE:CCA) announced a quarterly dividend on Friday, April 12th, Zacks reports. Stockholders of record on Thursday, April 25th will be given a dividend of 0.854 per share on Thursday, May 9th. This represents a $3.42 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date is Wednesday, April 24th.

Cogeco Communications Stock Performance

CCA opened at C$56.58 on Monday. The business’s 50 day moving average is C$59.41 and its 200-day moving average is C$58.35. The stock has a market cap of C$1.71 billion, a PE ratio of 6.80, a price-to-earnings-growth ratio of 4.77 and a beta of 0.47. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 136.39. Cogeco Communications has a twelve month low of C$50.78 and a twelve month high of C$72.56.

Cogeco Communications (TSE:CCA) last released its quarterly earnings results on Thursday, April 11th. The company reported C$2.21 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.88 by C$0.33. The company had revenue of C$730.50 million for the quarter, compared to analysts’ expectations of C$735.00 million. Cogeco Communications had a return on equity of 11.58% and a net margin of 12.47%. On average, analysts predict that Cogeco Communications will post 8.4785185 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CCA has been the topic of a number of recent analyst reports. Canaccord Genuity Group cut their price target on Cogeco Communications from C$63.00 to C$60.00 and set a “hold” rating on the stock in a report on Monday, April 15th. TD Securities dropped their target price on Cogeco Communications from C$93.00 to C$90.00 and set a “buy” rating on the stock in a report on Monday, April 15th. Scotiabank dropped their target price on Cogeco Communications from C$77.00 to C$73.50 and set a “sector perform” rating on the stock in a report on Monday, April 15th. BMO Capital Markets boosted their target price on Cogeco Communications from C$64.00 to C$65.00 and gave the stock a “market perform” rating in a report on Friday, January 12th. Finally, Desjardins dropped their target price on Cogeco Communications from C$68.00 to C$64.00 and set a “hold” rating on the stock in a report on Monday, April 15th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Cogeco Communications has an average rating of “Hold” and an average target price of C$69.69.

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.