Cogeco Communications (TSE:CCA) Given New C$90.00 Price Target at Scotiabank

Cogeco Communications (TSE:CCAGet Rating) had its price target reduced by Scotiabank from C$92.50 to C$90.00 in a research report sent to investors on Monday morning, BayStreet.CA reports.

Other analysts have also recently issued reports about the company. National Bankshares reduced their price target on Cogeco Communications from C$100.00 to C$96.00 in a report on Monday, October 31st. Desjardins raised Cogeco Communications from a hold rating to a buy rating in a report on Sunday, October 30th. CIBC reduced their price target on Cogeco Communications from C$100.00 to C$76.00 in a report on Wednesday, October 26th. BMO Capital Markets reduced their price target on Cogeco Communications from C$120.00 to C$100.00 in a report on Monday, September 12th. Finally, Canaccord Genuity Group raised their price target on Cogeco Communications from C$70.00 to C$72.00 in a report on Monday, October 31st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cogeco Communications presently has a consensus rating of Hold and a consensus target price of C$96.00.

Cogeco Communications Trading Up 0.1 %

Shares of CCA stock opened at C$74.00 on Monday. The business’s 50 day moving average is C$70.77 and its two-hundred day moving average is C$82.81. Cogeco Communications has a twelve month low of C$62.35 and a twelve month high of C$114.66. The company has a market capitalization of C$3.38 billion and a P/E ratio of 8.14. The company has a current ratio of 0.54, a quick ratio of 0.49 and a debt-to-equity ratio of 146.81.

Cogeco Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 24th. Investors of record on Thursday, November 24th were issued a dividend of $0.776 per share. The ex-dividend date was Wednesday, November 9th. This is a boost from Cogeco Communications’s previous quarterly dividend of $0.71. This represents a $3.10 annualized dividend and a yield of 4.19%. Cogeco Communications’s payout ratio is currently 31.02%.

Insider Buying and Selling

In other news, Director Robin Anne Bienenstock acquired 1,581 shares of Cogeco Communications stock in a transaction that occurred on Monday, November 14th. The stock was purchased at an average cost of C$73.30 per share, with a total value of C$115,887.30. Following the completion of the acquisition, the director now owns 2,471 shares in the company, valued at approximately C$181,124.30. In related news, Director Robin Anne Bienenstock purchased 1,581 shares of the business’s stock in a transaction dated Monday, November 14th. The stock was bought at an average cost of C$73.30 per share, with a total value of C$115,887.30. Following the completion of the acquisition, the director now directly owns 2,471 shares in the company, valued at approximately C$181,124.30. Also, Director Jacques Royer sold 433 shares of the business’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of C$69.76, for a total value of C$30,206.08. Following the completion of the transaction, the director now directly owns 524 shares of the company’s stock, valued at C$36,554.24.

About Cogeco Communications

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Cogeco Communications Inc operates as a communications corporation in North America. It operates in two segments, Canadian Broadband Services and American Broadband Services. The company offers Internet, video, and telephony services to residential and business customers through its two-way broadband fiber networks.

Further Reading

Analyst Recommendations for Cogeco Communications (TSE:CCA)

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