Desjardins Reiterates “C$71.00” Price Target for Cogeco Communications (TSE:CCA)

Desjardins set a C$71.00 price target on Cogeco Communications (TSE:CCA) in a report released on Monday,BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

Other research analysts also recently issued reports about the company. CIBC cut their price objective on Cogeco Communications from C$71.00 to C$68.00 in a research note on Friday, October 17th. Scotiabank lifted their price target on shares of Cogeco Communications from C$74.00 to C$74.25 and gave the company a “sector perform” rating in a report on Monday. BMO Capital Markets reduced their price objective on shares of Cogeco Communications from C$75.00 to C$70.00 in a research note on Friday, October 31st. Finally, TD Securities lowered their target price on shares of Cogeco Communications from C$98.00 to C$95.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$74.78.

Cogeco Communications Trading Up 1.6%

Shares of TSE:CCA opened at C$68.41 on Monday. The stock’s 50-day simple moving average is C$66.56 and its two-hundred day simple moving average is C$65.84. The stock has a market capitalization of C$2.88 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 4.77 and a beta of 0.65. Cogeco Communications has a 52-week low of C$59.10 and a 52-week high of C$73.35. The company has a debt-to-equity ratio of 159.35, a quick ratio of 0.49 and a current ratio of 0.37.

Cogeco Communications (TSE:CCA) last released its quarterly earnings results on Wednesday, January 14th. The company reported C$2.11 EPS for the quarter. Cogeco Communications had a net margin of 11.68% and a return on equity of 11.56%. The firm had revenue of C$707.25 million during the quarter. Analysts expect that Cogeco Communications will post 8.4900498 EPS for the current year.

Cogeco Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 26th were issued a $0.987 dividend. This represents a $3.95 annualized dividend and a dividend yield of 5.8%. This is a boost from Cogeco Communications’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Wednesday, November 12th. Cogeco Communications’s payout ratio is presently 48.53%.

Cogeco Communications Company Profile

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.