Cogeco Communications Inc. (TSE:CCA) Given Average Rating of "Hold" by Analysts

Key Points

• Cogeco Communications Inc. has a consensus recommendation of "Hold" from six analysts, with four rating it as hold and two as buy.
• The average 12-month price target for Cogeco Communications is C$75.67, though several brokerages have recently reduced their price targets.
• The company declared a quarterly dividend of $0.922, which equates to an annualized dividend yield of 5.5%.

Shares of Cogeco Communications Inc. (TSE:CCA - Get Free Report) have been given an average rating of "Hold" by the six brokerages that are presently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is C$75.67.

Several brokerages have recently weighed in on CCA. Scotiabank decreased their target price on shares of Cogeco Communications from C$75.50 to C$75.00 and set a "sector perform" rating for the company in a research note on Thursday, July 17th. National Bankshares cut shares of Cogeco Communications from an "outperform" rating to a "sector perform" rating and decreased their price objective for the company from C$80.00 to C$69.00 in a research report on Tuesday, August 12th. Desjardins upped their price objective on shares of Cogeco Communications from C$72.00 to C$74.00 in a research report on Thursday, July 10th. National Bank Financial cut shares of Cogeco Communications from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 11th. Finally, Royal Bank Of Canada reduced their price target on Cogeco Communications from C$75.00 to C$74.00 in a report on Thursday, July 17th.

Cogeco Communications Stock Down 0.0%

Shares of TSE CCA traded down C$0.02 on Thursday, hitting C$65.31. The company had a trading volume of 74,256 shares, compared to its average volume of 78,325. Cogeco Communications has a 12-month low of C$59.10 and a 12-month high of C$75.09. The business has a 50 day moving average of C$64.48 and a two-hundred day moving average of C$66.67. The company has a quick ratio of 0.49, a current ratio of 0.37 and a debt-to-equity ratio of 159.35. The firm has a market capitalization of C$2.75 billion, a P/E ratio of 8.46, a PEG ratio of 4.77 and a beta of 0.64.

Cogeco Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.922 per share. This represents a $3.69 annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Tuesday, July 29th. Cogeco Communications's dividend payout ratio is 46.89%.

About Cogeco Communications

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.