Jacques Royer Sells 657 Shares of Cogeco Communications Inc. (TSE:CCA) Stock

Cogeco Communications Inc. (TSE:CCA) Director Jacques Royer sold 657 shares of Cogeco Communications stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of C$68.86, for a total transaction of C$45,241.02. Following the completion of the sale, the director now directly owns 1 shares of the company’s stock, valued at approximately C$68.86. The trade was a 99.85 % decrease in their position.

Cogeco Communications Stock Down 0.6 %

Cogeco Communications stock opened at C$68.57 on Friday. The firm has a market cap of C$2.06 billion, a price-to-earnings ratio of 8.75, a P/E/G ratio of 4.77 and a beta of 0.59. The company has a debt-to-equity ratio of 142.88, a current ratio of 0.41 and a quick ratio of 0.49. Cogeco Communications Inc. has a fifty-two week low of C$50.82 and a fifty-two week high of C$72.91. The firm has a fifty day moving average price of C$69.39 and a two-hundred day moving average price of C$61.72.

Cogeco Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 28th. Stockholders of record on Thursday, November 28th will be given a dividend of $0.922 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.69 dividend on an annualized basis and a dividend yield of 5.38%. This is a positive change from Cogeco Communications’s previous quarterly dividend of $0.85. Cogeco Communications’s dividend payout ratio is currently 43.62%.

Analysts Set New Price Targets

Several research firms recently issued reports on CCA. Royal Bank of Canada lifted their price objective on shares of Cogeco Communications from C$76.00 to C$79.00 in a research note on Thursday, October 10th. National Bankshares raised shares of Cogeco Communications from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$64.00 to C$80.00 in a research note on Friday, September 20th. BMO Capital Markets lifted their price objective on shares of Cogeco Communications from C$70.00 to C$80.00 in a research note on Monday, November 4th. TD Securities lifted 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, Scotiabank lifted their price objective on shares of Cogeco Communications from C$73.50 to C$77.50 in a research note on Monday, November 4th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$75.50.

About Cogeco Communications

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.