Cogeco Communications Inc. (TSE:CCA) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Cogeco Communications Inc. has received a consensus rating of "Moderate Buy" from six research firms, with a 1-year target price averaging C$77.44.
• The company has announced a quarterly dividend of $0.922 per share, resulting in an annual yield of 5.74%, with a payout ratio of 41.40%.
• Cogeco's stock performance includes a current price of C$64.20, with a twelve-month range between C$59.10 and C$75.09.

Cogeco Communications Inc. (TSE:CCA - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six research firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$77.44.

CCA has been the subject of a number of recent analyst reports. Scotiabank reduced their target price on Cogeco Communications from C$75.50 to C$75.00 and set a "sector perform" rating for the company in a report on Thursday, July 17th. Royal Bank Of Canada cut their price objective on Cogeco Communications from C$75.00 to C$74.00 in a report on Thursday, July 17th. National Bankshares set a C$85.00 price objective on Cogeco Communications and gave the stock an "outperform" rating in a report on Friday, June 6th. Desjardins boosted their price objective on Cogeco Communications from C$72.00 to C$74.00 in a report on Thursday, July 10th. Finally, BMO Capital Markets cut their price objective on Cogeco Communications from C$80.00 to C$75.00 in a report on Thursday, July 17th.

Cogeco Communications Price Performance

CCA opened at C$64.20 on Wednesday. The company has a market capitalization of C$2.70 billion, a price-to-earnings ratio of 7.77, 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. The firm has a 50-day moving average price of C$68.68 and a 200-day moving average price of C$66.63. Cogeco Communications has a twelve month low of C$59.10 and a twelve month high of C$75.09.

Cogeco Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 12th will be issued a $0.922 dividend. The ex-dividend date is Tuesday, July 29th. This represents a $3.69 dividend on an annualized basis and a yield of 5.74%. Cogeco Communications's dividend payout ratio (DPR) is 41.40%.

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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