Cogeco Communications Inc. (TSE:CCA) Receives C$87.25 Average Price Target from Brokerages

Cogeco Communications Inc. (TSE:CCA) has been given a consensus recommendation of “Hold” by the seven brokerages that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is C$87.25.

CCA has been the topic of a number of recent research reports. Scotiabank cut their target price on Cogeco Communications from C$75.50 to C$74.00 in a research note on Friday, October 31st. TD Securities cut their price objective on shares of Cogeco Communications from C$98.00 to C$95.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. CIBC reduced their target price on shares of Cogeco Communications from C$71.00 to C$68.00 in a research note on Friday, October 17th. Desjardins dropped their price target on shares of Cogeco Communications from C$173.00 to C$171.00 and set a “hold” rating on the stock in a research note on Monday, November 3rd. Finally, BMO Capital Markets reduced their price objective on Cogeco Communications from C$75.00 to C$70.00 in a research report on Friday, October 31st.

Cogeco Communications Stock Up 1.0%

TSE:CCA opened at C$67.11 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.49 and a debt-to-equity ratio of 159.35. The stock has a 50 day moving average of C$66.10 and a 200-day moving average of C$65.91. The firm has a market capitalization of C$2.83 billion, a PE ratio of 8.83, a price-to-earnings-growth ratio of 4.77 and a beta of 0.55. Cogeco Communications has a 52 week low of C$59.10 and a 52 week high of C$73.35.

Cogeco Communications (TSE:CCA) last announced its quarterly earnings results on Wednesday, October 29th. The company reported C$2.09 earnings per share (EPS) for the quarter. The business had revenue of C$708.69 million for the quarter. Cogeco Communications had a return on equity of 11.56% and a net margin of 11.68%. Analysts predict that Cogeco Communications will post 8.4900498 EPS for the current year.

Cogeco Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 26th were given a dividend of $0.987 per share. This is a boost from Cogeco Communications’s previous quarterly dividend of $0.92. The ex-dividend date was Wednesday, November 12th. This represents a $3.95 dividend on an annualized basis and a yield of 5.9%. Cogeco Communications’s payout ratio is presently 48.53%.

About Cogeco Communications

Cogeco Communications Inc is a communication corporation. The company is a cable operator in North America operating in Canada. It provides residential and business customers with internet, video, and telephony services with broadband fibre networks. The reportable segments of the company are Canadian broadband services and American broadband services. In internet services, the company offers internet packages with download speeds of up to 120mbps. In video services, the company provides digital tier services, pay-per-view channels, video on-demand services, and 4k television, and telephony services include using internet protocol to transport digitized voice signals.