Cogeco Communications Inc. (TSE:CCA) Raises Dividend to $0.92 Per Share

Cogeco Communications Inc. (TSE:CCA) declared a quarterly dividend on Thursday, November 14th,Zacks Dividends reports. Investors of record on Thursday, November 28th will be paid a dividend of 0.922 per share on Thursday, November 28th. This represents a $3.69 annualized dividend and a yield of 5.15%. The ex-dividend date of this dividend is Thursday, November 14th. This is an increase from Cogeco Communications’s previous quarterly dividend of $0.85.

Cogeco Communications Price Performance

Shares of TSE CCA opened at C$71.64 on Tuesday. The company has a debt-to-equity ratio of 142.88, a current ratio of 0.41 and a quick ratio of 0.49. The stock has a market capitalization of C$2.15 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 4.77 and a beta of 0.59. The firm’s 50 day simple moving average is C$68.53 and its 200-day simple moving average is C$60.95. Cogeco Communications has a 12 month low of C$50.78 and a 12 month high of C$72.91.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Cogeco Communications from C$76.00 to C$79.00 in a report on Thursday, October 10th. Bank of America raised Cogeco Communications from an “underperform” rating to a “buy” rating and upped their price target for the stock from C$60.00 to C$65.00 in a report on Wednesday, July 17th. Scotiabank raised their price objective on Cogeco Communications from C$73.50 to C$77.50 in a report on Monday, November 4th. National Bankshares raised Cogeco Communications from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from C$64.00 to C$80.00 in a research note on Friday, September 20th. Finally, National Bank Financial raised shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 19th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$75.50.

Cogeco Communications Company Profile

Cogeco Communications Inc operates as a telecommunications corporation in Canada and the United States. It operates in two segments, Canadian Telecommunications and American Telecommunications. The company offers Internet, video, and Internet protocol (IP) based telephony services to residential and small business customers through its two-way broadband fiber networks.