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

Key Points

• Cogeco Communications has a “Moderate Buy” consensus rating from seven analysts: four recommend holding, two recommend buying, and one gives a strong-buy rating. The average 12-month price target is C$73.22, versus a recent share price of C$61.19.
• The company reported quarterly EPS of C$2.35 on revenue of C$696.68 million, but posted a negative net margin of 39.56% and negative return on equity of 38.76%.
• Cogeco announced a quarterly dividend of C$0.987 per share, equivalent to approximately C$3.95 annually and a 6.5% yield; the dividend is scheduled for payment on August 12.

Shares of Cogeco Communications Inc. (TSE:CCA - Get Free Report) have been assigned an average rating of "Moderate Buy" from the seven ratings firms that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$73.22.

Several brokerages recently issued reports on CCA. Desjardins set a C$68.00 target price on shares of Cogeco Communications and gave the stock a "hold" rating in a research report on Wednesday, July 15th. TD upgraded Cogeco Communications from a "hold" rating to a "buy" rating and cut their price objective for the stock from C$85.00 to C$83.00 in a report on Monday, April 13th. National Bank Financial lowered Cogeco Communications from an "outperform" rating to a "hold" rating and reduced their price objective for the company from C$75.00 to C$70.00 in a research report on Friday, July 17th. TD Securities upgraded Cogeco Communications from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 13th. Finally, Scotiabank reduced their price target on shares of Cogeco Communications from C$74.25 to C$72.00 and set a "sector perform" rating on the stock in a research report on Monday, April 13th.

Cogeco Communications Stock Up 0.8%

CCA stock opened at C$61.19 on Friday. The company's 50 day moving average is C$63.29 and its 200 day moving average is C$66.27. The stock has a market cap of C$2.57 billion, a price-to-earnings ratio of -2.32, a price-to-earnings-growth ratio of 4.77 and a beta of 0.94. The company has a current ratio of 0.47, a quick ratio of 0.49 and a debt-to-equity ratio of 241.79. Cogeco Communications has a 1-year low of C$58.42 and a 1-year high of C$77.40.

Cogeco Communications (TSE:CCA - Get Free Report) last released its quarterly earnings results on Wednesday, July 15th. The company reported C$2.35 EPS for the quarter. The business had revenue of C$696.68 million during the quarter. Cogeco Communications had a negative net margin of 39.56% and a negative return on equity of 38.76%. Sell-side analysts predict that Cogeco Communications will post 8.4900498 EPS for the current fiscal year.

Cogeco Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, August 12th will be issued a dividend of $0.987 per share. The ex-dividend date of this dividend is Wednesday, July 29th. This represents a $3.95 annualized dividend and a dividend yield of 6.5%. Cogeco Communications's dividend payout ratio (DPR) is currently -14.69%.

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.

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