Cogeco Communications Inc. (TSE:CCA) Receives Consensus Rating 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.

Shares of Cogeco Communications Inc. (TSE:CCA - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six analysts that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is C$77.44.

A number of equities research analysts have weighed in on the company. Scotiabank lowered their price target on Cogeco Communications from C$75.50 to C$75.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 17th. Canaccord Genuity Group raised their target price on Cogeco Communications from C$76.00 to C$77.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Desjardins raised their price objective on shares of Cogeco Communications from C$72.00 to C$74.00 in a report on Thursday, July 10th. BMO Capital Markets lowered their target price on shares of Cogeco Communications from C$80.00 to C$75.00 in a report on Thursday, July 17th. Finally, Royal Bank Of Canada decreased their price objective on shares of Cogeco Communications from C$75.00 to C$74.00 in a report on Thursday, July 17th.

Cogeco Communications Price Performance

Shares of CCA stock traded up C$0.22 on Wednesday, reaching C$62.61. The company's stock had a trading volume of 113,103 shares, compared to its average volume of 83,823. The stock's 50 day simple moving average is C$68.47 and its 200-day simple moving average is C$66.57. Cogeco Communications has a 12-month low of C$59.10 and a 12-month high of C$75.09. 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 company has a market capitalization of C$2.63 billion, a P/E ratio of 7.58, a PEG ratio of 4.77 and a beta of 0.59.

Cogeco Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 12th. Investors of record on Tuesday, August 12th will be issued a $0.922 dividend. The ex-dividend date of this dividend is Tuesday, July 29th. This represents a $3.69 annualized dividend and a yield of 5.9%. Cogeco Communications's dividend payout ratio is currently 41.40%.

Cogeco Communications Company Profile

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.