Brokerages Set Cogeco Communications Inc. (TSE:CCA) Target Price at C$75.50

Cogeco Communications Inc. (TSE:CCA) has earned an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$77.06.

CCA has been the topic of a number of analyst reports. TD Securities upped their price objective on Cogeco Communications from C$85.00 to C$89.00 in a research note on Monday, November 4th. National Bankshares upgraded shares of Cogeco Communications from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from C$64.00 to C$80.00 in a research note on Friday, September 20th. BMO Capital Markets raised their target price on shares of Cogeco Communications from C$70.00 to C$80.00 in a research note on Monday, November 4th. Scotiabank upped their price objective on Cogeco Communications from C$73.50 to C$77.50 in a research note on Monday, November 4th. Finally, Canaccord Genuity Group raised Cogeco Communications from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$65.00 to C$77.00 in a report on Monday, November 4th.

Cogeco Communications Price Performance

Shares of TSE CCA opened at C$66.51 on Tuesday. Cogeco Communications has a fifty-two week low of C$50.82 and a fifty-two week high of C$75.09. The stock has a market capitalization of C$2.00 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 4.77 and a beta of 0.59. 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 business has a 50-day moving average of C$69.95 and a 200-day moving average of C$63.86.

Cogeco Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 28th. Investors of record on Thursday, November 28th were paid a $0.922 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This is an increase from Cogeco Communications’s previous quarterly dividend of $0.85. This represents a $3.69 annualized dividend and a yield of 5.55%. Cogeco Communications’s payout ratio is 43.62%.

Insiders Place Their Bets

In other news, Director Jacques Royer sold 657 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of C$68.86, for a total transaction of C$45,241.02. Following the transaction, the director now directly owns 1 shares of the company’s stock, valued at approximately C$68.86. This trade represents a 99.85 % decrease in their ownership of the stock. Also, Director Robin Anne Bienenstock purchased 2,156 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was bought at an average price of C$69.66 per share, with a total value of C$150,189.33. Company insiders own 0.46% of the company’s stock.

About Cogeco Communications

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.