Cogeco Communications Inc. (TSE:CCA) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Cogeco Communications has received an average consensus recommendation of "Hold" from seven brokerage firms, with five rating it a hold and two a buy.
• The current average price objective from analysts for Cogeco Communications is C$75.56, reflecting a decline in target prices by several brokerages.
• Cogeco recently declared a quarterly dividend of $0.922, representing an annual yield of 5.7% and a payout ratio of 46.89%.

Shares of Cogeco Communications Inc. (TSE:CCA - Get Free Report) have received an average recommendation of "Hold" from the seven ratings firms that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$75.56.

A number of brokerages have recently weighed in on CCA. Scotiabank dropped their target price on Cogeco Communications from C$75.50 to C$75.00 and set a "sector perform" rating on the stock in a report on Thursday, July 17th. Royal Bank Of Canada dropped their target price on Cogeco Communications from C$75.00 to C$74.00 in a report on Thursday, July 17th. Desjardins set a C$73.00 price objective on Cogeco Communications and gave the stock a "hold" rating in a report on Thursday. BMO Capital Markets dropped their price objective on Cogeco Communications from C$80.00 to C$75.00 in a report on Thursday, July 17th. Finally, National Bank Financial downgraded Cogeco Communications from a "strong-buy" rating to a "hold" rating in a report on Monday, August 11th.

Cogeco Communications Price Performance

Shares of CCA opened at C$64.25 on Monday. The company has a market capitalization of C$2.71 billion, a price-to-earnings ratio of 8.32, a P/E/G ratio of 4.77 and a beta of 0.52. Cogeco Communications has a fifty-two week low of C$59.10 and a fifty-two week high of C$75.09. The company has a debt-to-equity ratio of 159.35, a current ratio of 0.37 and a quick ratio of 0.49. The business's 50-day moving average is C$63.99 and its 200-day moving average is C$66.37.

Cogeco Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 12th were issued a $0.922 dividend. The ex-dividend date was Tuesday, July 29th. This represents a $3.69 dividend on an annualized basis and a yield of 5.7%. Cogeco Communications's dividend payout ratio is currently 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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