Cogeco Communications Inc. (TSE:CCA) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Cogeco Communications has a consensus analyst rating of “Moderate Buy”, based on seven covering firms: three holds, three buys, and one strong buy. The average 1-year target price is C$74.33.
• Several analysts recently adjusted their views, with TD upgrading the stock to buy/strong-buy while RBC, Scotiabank, and Canaccord Genuity trimmed price targets, generally into the C$70–C$72 range.
• The stock opened at C$63.50 and trades below both its 50-day and 200-day moving averages, while offering a 6.2% dividend yield from its quarterly payout.

Shares of Cogeco Communications Inc. (TSE:CCA - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is C$74.33.

A number of research analysts have weighed in on CCA shares. Royal Bank Of Canada cut their price objective on shares of Cogeco Communications from C$74.00 to C$70.00 and set a "sector perform" rating for the company in a report on Friday, July 10th. TD upgraded Cogeco Communications from a "hold" rating to a "buy" rating and dropped their target price for the company from C$85.00 to C$83.00 in a research report on Monday, April 13th. TD Securities upgraded Cogeco Communications from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 13th. Scotiabank reduced their price target on Cogeco Communications from C$74.25 to C$72.00 and set a "sector perform" rating for the company in a report on Monday, April 13th. Finally, Canaccord Genuity Group lowered their price target on 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.

Cogeco Communications Stock Performance

CCA opened at C$63.50 on Wednesday. The firm has a fifty day moving average price of C$64.37 and a 200 day moving average price of C$67.07. Cogeco Communications has a 1 year low of C$60.89 and a 1 year high of C$77.40. The stock has a market cap of C$2.67 billion, a P/E ratio of 8.53, a P/E/G ratio of 4.77 and a beta of 0.93. The company has a debt-to-equity ratio of 141.57, a current ratio of 0.47 and a quick ratio of 0.49.

Cogeco Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 7th. Stockholders of record on Thursday, May 7th were paid a dividend of $0.987 per share. This represents a $3.95 annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend was Thursday, April 23rd. Cogeco Communications's dividend payout ratio is presently 51.32%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.