Cogeco Communications Inc. (TSE:CCA) Receives C$73.22 Consensus Target Price from Brokerages

Shares of Cogeco Communications Inc. (TSE:CCA) have earned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is C$73.22.

CCA has been the subject of a number of research reports. Royal Bank Of Canada cut their price target on shares of Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating for the company in a research note on Friday, July 10th. Desjardins set a C$68.00 price objective on shares of Cogeco Communications and gave the company a “hold” rating in a research report on Wednesday, July 15th. Finally, National Bank Financial downgraded shares of Cogeco Communications from an “outperform” rating to a “hold” rating and dropped their price objective for the stock from C$75.00 to C$70.00 in a report on Friday, July 17th.

Cogeco Communications Stock Performance

Shares of CCA opened at C$61.11 on Friday. Cogeco Communications has a 12-month low of C$58.42 and a 12-month high of C$77.40. The company has a current ratio of 0.47, a quick ratio of 0.49 and a debt-to-equity ratio of 241.79. The company has a market cap of C$2.57 billion, a PE ratio of -2.31, a price-to-earnings-growth ratio of 4.77 and a beta of 0.94. The stock has a 50-day moving average price of C$62.79 and a 200-day moving average price of C$65.88.

Cogeco Communications (TSE:CCA) last posted its quarterly earnings data on Wednesday, July 15th. The company reported C$2.35 earnings per share for the quarter. The company had revenue of C$696.68 million for the quarter. Cogeco Communications had a negative net margin of 39.56% and a negative return on equity of 38.76%. As a group, equities analysts forecast that Cogeco Communications will post 8.4900498 earnings per share for the current fiscal year.

Cogeco Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Wednesday, August 12th were given a dividend of $0.987 per share. The ex-dividend date was Wednesday, July 29th. This represents a $3.95 dividend on an annualized basis and a yield of 6.5%. Cogeco Communications’s dividend payout ratio (DPR) is presently -14.69%.

About Cogeco Communications

Cogeco Communications Inc is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.