Brokerages Set Cogeco Communications Inc. (TSE:CCA) Price Target at C$75.50

Shares of Cogeco Communications Inc. (TSE:CCA) have received a consensus rating of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$77.06.

Several research firms recently weighed in on CCA. National Bank Financial upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 19th. Canaccord Genuity Group raised shares of Cogeco Communications from a “hold” rating to a “buy” rating and upped their price target for the stock from C$65.00 to C$77.00 in a research report on Monday, November 4th. Scotiabank lifted their price objective on shares of Cogeco Communications from C$73.50 to C$77.50 in a report on Monday, November 4th. TD Securities boosted their price objective on shares of Cogeco Communications from C$85.00 to C$89.00 in a research note on Monday, November 4th. Finally, National Bankshares raised Cogeco Communications from a “sector perform” rating to an “outperform” rating and increased their target price for the company from C$64.00 to C$80.00 in a research report on Friday, September 20th.

Cogeco Communications Trading Up 1.4 %

CCA opened at C$66.36 on Tuesday. Cogeco Communications has a 52 week low of C$50.82 and a 52 week high of C$75.09. The company has a market capitalization of C$1.99 billion, a P/E ratio of 8.46, a PEG ratio of 4.77 and a beta of 0.59. The stock’s fifty day moving average is C$69.98 and its two-hundred day moving average is C$63.78. The company has a quick ratio of 0.49, a current ratio of 0.41 and a debt-to-equity ratio of 142.88.

Cogeco Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 28th. Shareholders of record on Thursday, November 28th were issued a $0.922 dividend. This represents a $3.69 annualized dividend and a yield of 5.56%. The ex-dividend date was Thursday, November 14th. This is an increase from Cogeco Communications’s previous quarterly dividend of $0.85. Cogeco Communications’s dividend payout ratio (DPR) is currently 43.62%.

Insider Transactions at Cogeco Communications

In other Cogeco Communications news, Director Robin Anne Bienenstock bought 2,156 shares of Cogeco Communications stock in a transaction that occurred on Friday, November 29th. The stock was purchased at an average price of C$69.66 per share, with a total value of C$150,189.33. Also, Director Jacques Royer sold 657 shares of Cogeco Communications stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of C$68.86, for a total value of C$45,241.02. Following the transaction, the director now owns 1 shares of the company’s stock, valued at C$68.86. The trade was a 99.85 % decrease in their position. Insiders own 0.46% of the company’s stock.

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.