Cogeco Communications Inc. (TSE:CCA) Receives Average Recommendation of "Hold" from 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 earned a consensus recommendation of "Hold" from the six analysts that are presently covering the company, 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 objective among brokers that have issued a report on the stock in the last year is C$75.67.

Several brokerages recently issued reports on CCA. Royal Bank Of Canada cut their target price on shares of Cogeco Communications from C$75.00 to C$74.00 in a research note on Thursday, July 17th. National Bank Financial lowered shares of Cogeco Communications from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 11th. Scotiabank cut their target price on shares of 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 raised their price objective on shares of Cogeco Communications from C$72.00 to C$74.00 in a research note on Thursday, July 10th. Finally, BMO Capital Markets dropped their price objective on shares of Cogeco Communications from C$80.00 to C$75.00 in a research note on Thursday, July 17th.

Cogeco Communications Stock Up 1.1%

Shares of TSE CCA opened at C$66.52 on Thursday. The firm has a market cap of C$2.80 billion, a PE ratio of 8.62, a P/E/G ratio of 4.77 and a beta of 0.64. Cogeco Communications has a 12-month low of C$59.10 and a 12-month high of C$75.09. The company's fifty day simple moving average is C$64.76 and its 200 day simple moving average is C$66.66. The company has a quick ratio of 0.49, a current ratio of 0.37 and a debt-to-equity ratio of 159.35.

Cogeco Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 12th were paid a $0.922 dividend. This represents a $3.69 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Tuesday, July 29th. Cogeco Communications's dividend payout ratio (DPR) 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.

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