Cogeco Communications (TSE:CCA) Posts Quarterly Earnings Results

Cogeco Communications (TSE:CCA) posted its earnings results on Wednesday. The company reported C$2.35 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$696.68 million for the quarter. Cogeco Communications had a return on equity of 9.93% and a net margin of 11.13%.

Cogeco Communications Stock Performance

TSE CCA opened at C$64.35 on Thursday. The firm has a 50-day moving average price of C$64.39 and a two-hundred day moving average price of C$67.05. Cogeco Communications has a 12-month low of C$60.89 and a 12-month high of C$77.40. The company has a market capitalization of C$2.70 billion, a P/E ratio of 8.65, a P/E/G ratio of 4.77 and a beta of 0.93. The company has a quick ratio of 0.49, a current ratio of 0.47 and a debt-to-equity ratio of 141.57.

Cogeco Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 7th. Stockholders of record on Thursday, May 7th were issued a dividend of $0.987 per share. The ex-dividend date of this dividend was Thursday, April 23rd. This represents a $3.95 dividend on an annualized basis and a dividend yield of 6.1%. Cogeco Communications’s dividend payout ratio (DPR) is currently 51.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CCA shares. Desjardins set a C$68.00 price objective on shares of Cogeco Communications and gave the company a “hold” rating in a research note on Wednesday. Royal Bank Of Canada decreased their target price on Cogeco Communications from C$74.00 to C$70.00 and set a “sector perform” rating for the company in a research note on Friday, July 10th. TD upgraded Cogeco Communications from a “hold” rating to a “buy” rating and lowered their target price for the stock from C$85.00 to C$83.00 in a report on Monday, April 13th. Canaccord Genuity Group lowered their price target on shares of Cogeco Communications from C$74.00 to C$70.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. Finally, Scotiabank lowered their target price on Cogeco Communications from C$74.25 to C$72.00 and set a “sector perform” rating on the stock in a research report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$74.33.

Cogeco Communications Company Profile

Cogeco Communications Inc is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.