Cogeco Communications Inc. (TSE:CCA) Receives C$87.25 Average Target Price from Analysts

Shares of Cogeco Communications Inc. (TSE:CCA) have been assigned an average rating of “Hold” from the seven analysts that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is C$87.25.

A number of analysts have weighed in on CCA shares. CIBC reduced their target price on Cogeco Communications from C$71.00 to C$68.00 in a research note on Friday, October 17th. Desjardins cut their price target on shares of Cogeco Communications from C$173.00 to C$171.00 and set a “hold” rating on the stock in a report on Monday, November 3rd. National Bank Financial lowered shares of Cogeco Communications from a “strong-buy” rating to a “hold” rating in a report on Monday, August 11th. National Bankshares cut shares of Cogeco Communications from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$80.00 to C$69.00 in a research report on Tuesday, August 12th. Finally, Scotiabank dropped their target price on shares of Cogeco Communications from C$75.50 to C$74.00 in a research note on Friday, October 31st.

Cogeco Communications Price Performance

TSE:CCA opened at C$67.49 on Tuesday. The firm has a market capitalization of C$2.84 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 4.77 and a beta of 0.55. The company has a debt-to-equity ratio of 159.35, a current ratio of 0.37 and a quick ratio of 0.49. The business has a 50 day simple moving average of C$65.55 and a 200-day simple moving average of C$66.18. Cogeco Communications has a 1 year low of C$59.10 and a 1 year high of C$75.09.

Cogeco Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Wednesday, November 26th were paid a $0.987 dividend. This represents a $3.95 annualized dividend and a yield of 5.8%. This is an increase from Cogeco Communications’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Wednesday, November 12th. Cogeco Communications’s payout ratio is currently 48.53%.

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.