Cogeco Communications Inc. (TSE:CCA) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Cogeco Communications Inc. (TSE:CCA) have been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$75.50.

A number of research analysts have recently commented on the stock. BMO Capital Markets boosted their price target on shares of Cogeco Communications from C$70.00 to C$80.00 in a research report on Monday, November 4th. Canaccord Genuity Group upgraded Cogeco Communications from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$65.00 to C$77.00 in a research report on Monday, November 4th. Royal Bank of Canada upped their target price on Cogeco Communications from C$76.00 to C$79.00 in a research note on Thursday, October 10th. National Bank Financial upgraded Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 19th. Finally, TD Securities upped their price objective on shares of Cogeco Communications from C$85.00 to C$89.00 in a research report on Monday, November 4th.

Cogeco Communications Price Performance

CCA stock opened at C$66.83 on Friday. The firm has a 50 day moving average of C$69.60 and a 200-day moving average of C$62.26. The company has a current ratio of 0.41, a quick ratio of 0.49 and a debt-to-equity ratio of 142.88. The firm has a market capitalization of C$2.00 billion, a P/E ratio of 8.52, a price-to-earnings-growth ratio of 4.77 and a beta of 0.59. Cogeco Communications has a 12 month low of C$50.82 and a 12 month high of C$72.91.

Cogeco Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 28th. Stockholders of record on Thursday, November 28th were paid a $0.922 dividend. This is a boost from Cogeco Communications’s previous quarterly dividend of $0.85. The ex-dividend date was Thursday, November 14th. This represents a $3.69 dividend on an annualized basis and a dividend yield of 5.52%. Cogeco Communications’s dividend payout ratio is 43.62%.

Insider Buying and Selling

In other news, Director Jacques Royer sold 657 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of C$68.86, for a total transaction of C$45,241.02. Following the transaction, the director now directly owns 1 shares of the company’s stock, valued at approximately C$68.86. This trade represents a 99.85 % decrease in their ownership of the stock. 0.46% of the stock is owned by corporate insiders.

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.