Cogeco Communications Inc. (TSE:CCA) Announces $0.99 Quarterly Dividend

Cogeco Communications Inc. (TSE:CCA) declared a quarterly dividend on Wednesday, July 29th, TickerTech Dividends reports. Stockholders of record on Wednesday, August 12th will be given a dividend of 0.987 per share on Wednesday, August 12th. This represents a c) annualized dividend and a dividend yield of 6.5%. The ex-dividend date is Wednesday, July 29th.

Cogeco Communications Price Performance

TSE:CCA opened at C$60.66 on Monday. The company has a debt-to-equity ratio of 241.79, a quick ratio of 0.49 and a current ratio of 0.47. The company has a market cap of C$2.55 billion, a PE ratio of -2.30, a PEG ratio of 4.77 and a beta of 0.93. Cogeco Communications has a 52-week low of C$60.27 and a 52-week high of C$77.40. The stock has a 50-day simple moving average of C$64.21 and a 200 day simple moving average of C$66.83.

Cogeco Communications (TSE:CCA) last announced its earnings results on Wednesday, July 15th. The company reported C$2.35 earnings per share (EPS) for the quarter. The business had revenue of C$696.68 million for the quarter. Cogeco Communications had a negative return on equity of 38.76% and a negative net margin of 39.56%. On average, sell-side analysts expect that Cogeco Communications will post 8.4900498 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CCA shares. TD upgraded shares of Cogeco Communications from a “hold” rating to a “buy” rating and lowered their price objective for the company from C$85.00 to C$83.00 in a report on Monday, April 13th. TD Securities upgraded shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Scotiabank decreased their target price on shares of Cogeco Communications from C$74.25 to C$72.00 and set a “sector perform” rating for the company in a research report on Monday, April 13th. Desjardins set a C$68.00 price target on shares of Cogeco Communications and gave the company a “hold” rating in a research note on Wednesday, July 15th. Finally, Canaccord Genuity Group cut 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 report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Cogeco Communications has an average rating of “Moderate Buy” and a consensus target price of C$73.22.

About Cogeco Communications

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.