Cogeco Communications Inc. (TSE:CCA) Receives C$76.60 Consensus Price Target from Brokerages

Shares of Cogeco Communications Inc. (TSE:CCA) have been given an average recommendation of “Moderate Buy” by the nine research firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is C$76.60.

A number of research analysts have issued reports on the company. Royal Bank Of Canada lifted their price objective on Cogeco Communications from C$77.00 to C$78.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 9th. Scotiabank set a C$75.00 price target on Cogeco Communications and gave the stock a “sector perform” rating in a research report on Thursday, April 17th. Canaccord Genuity Group increased their price objective on shares of Cogeco Communications from C$76.00 to C$77.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Finally, National Bankshares set a C$85.00 price objective on shares of Cogeco Communications and gave the company an “outperform” rating in a research note on Friday, June 6th.

Cogeco Communications Price Performance

CCA stock opened at C$72.47 on Friday. The company has a debt-to-equity ratio of 159.35, a quick ratio of 0.49 and a current ratio of 0.37. The firm has a 50 day moving average price of C$68.76 and a 200-day moving average price of C$66.66. Cogeco Communications has a 52-week low of C$51.01 and a 52-week high of C$75.09. The firm has a market capitalization of C$3.05 billion, a price-to-earnings ratio of 8.77, a PEG ratio of 4.77 and a beta of 0.59.

Cogeco Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, May 7th were given a $0.922 dividend. This represents a $3.69 annualized dividend and a yield of 5.09%. The ex-dividend date of this dividend was Wednesday, April 23rd. Cogeco Communications’s dividend payout ratio is presently 41.40%.

About Cogeco Communications

Cogeco Communications Inc is a communication corporation. The company is a cable operator in North America operating in Canada. It provides residential and business customers with internet, video, and telephony services with broadband fibre networks. The reportable segments of the company are Canadian broadband services and American broadband services.