Cogeco Communications Inc. (TSE:CCA) Plans $0.92 Quarterly Dividend

Key Points

• Cogeco Communications Inc. has declared a quarterly dividend of $0.92 per share, which will be paid to investors of record on August 12th, yielding an annualized dividend of $3.69 at a rate of 5.61%.
• As of the latest trading session, Cogeco's shares experienced a 1.2% decline, opening at C$65.70, with a 52-week range between C$59.10 and C$75.09.
• The stock has received varied ratings from analysts, with a current consensus rating of "Moderate Buy" and an average price target of C$77.44, despite some recent downward adjustments from certain financial institutions.

Cogeco Communications Inc. (TSE:CCA - Get Free Report) declared a quarterly dividend on Tuesday, July 29th, TickerTech Dividends reports. Stockholders of record on Tuesday, August 12th will be paid a dividend of 0.922 per share on Tuesday, August 12th. This represents a $3.69 annualized dividend and a dividend yield of 5.79%. The ex-dividend date is Tuesday, July 29th.

Cogeco Communications Price Performance

TSE:CCA traded down C$0.50 during mid-day trading on Wednesday, reaching C$63.70. 50,473 shares of the company were exchanged, compared to its average volume of 83,345. Cogeco Communications has a 12 month low of C$59.10 and a 12 month high of C$75.09. The company has a fifty day moving average of C$68.68 and a 200 day moving average of C$66.63. The stock has a market cap of C$2.68 billion, a PE ratio of 7.71, a PEG ratio of 4.77 and a beta of 0.59. The company has a quick ratio of 0.49, a current ratio of 0.37 and a debt-to-equity ratio of 159.35.

Analyst Ratings Changes

A number of equities analysts have issued reports on CCA shares. Canaccord Genuity Group raised their price objective on shares of Cogeco Communications from C$76.00 to C$77.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Royal Bank Of Canada cut their target price on shares of Cogeco Communications from C$75.00 to C$74.00 in a report on Thursday, July 17th. Scotiabank dropped their price objective on Cogeco Communications from C$75.50 to C$75.00 and set a "sector perform" rating on the stock in a research note on Thursday, July 17th. Desjardins lifted their price objective on Cogeco Communications from C$72.00 to C$74.00 in a report on Thursday, July 10th. Finally, National Bankshares set a C$85.00 target price on Cogeco Communications and gave the company an "outperform" rating in a research report on Friday, June 6th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$77.44.

Cogeco Communications Company Profile

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.