Cogeco Communications Inc. (TSE:CCA) Stock Has Consensus Price Target of C$71.17 According to Brokerages

Key Points

• Analyst consensus: Cogeco Communications has a “Moderate Buy” rating from eight analysts, with an average 12-month price target of C$71.17. The consensus includes five holds, two buys and one strong buy.
• Recent target cuts: Several firms lowered their price targets, including Scotiabank to C$64.50, Desjardins to C$64, CIBC to C$65, RBC to C$70 and National Bank Financial to C$69; most maintained neutral or sector-perform ratings.
• Stock and dividend: Shares opened at C$54.69, below the consensus target, while the company’s quarterly dividend implies an annualized payout of C$3.95 and a 7.2% yield.

Cogeco Communications Inc. (TSE:CCA - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eight research firms that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is C$71.17.

CCA has been the topic of a number of research reports. Scotiabank lowered their price target on Cogeco Communications from C$68.00 to C$64.50 and set a "sector perform" rating on the stock in a research report on Tuesday. Desjardins cut their price objective on Cogeco Communications from C$68.00 to C$64.00 and set a "hold" rating for the company in a report on Wednesday, October 7th. Canadian Imperial Bank of Commerce reduced their price objective on Cogeco Communications from C$71.00 to C$65.00 and set a "neutral" rating on the stock in a research report on Thursday, October 8th. Royal Bank Of Canada reduced their price objective on Cogeco Communications from C$74.00 to C$70.00 and set a "sector perform" rating on the stock in a research report on Friday, July 10th. Finally, National Bank Financial decreased their price objective on Cogeco Communications from C$70.00 to C$69.00 and set a "sector perform" rating on the stock in a report on Monday, August 31st.

Cogeco Communications Price Performance

Cogeco Communications stock opened at C$54.69 on Friday. The stock has a market cap of C$2.30 billion, a price-to-earnings ratio of -2.07, a PEG ratio of 4.77 and a beta of 1.08. The company has a quick ratio of 0.49, a current ratio of 0.47 and a debt-to-equity ratio of 241.79. The business has a 50-day simple moving average of C$56.26 and a 200 day simple moving average of C$60.92. Cogeco Communications has a 52 week low of C$48.18 and a 52 week high of C$77.40.

Cogeco Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Wednesday, August 12th were paid a $0.9870 dividend. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $3.95 annualized dividend and a yield of 7.2%. Cogeco Communications's dividend payout ratio is currently -14.69%.

About Cogeco Communications

Cogeco Communications Inc is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.