Cogeco Communications (TSE:CCA) Price Target Raised to C$74.00

Cogeco Communications (TSE:CCA - Free Report) had its target price raised by Desjardins from C$72.00 to C$74.00 in a research note issued to investors on Thursday morning,BayStreet.CA reports.

A number of other analysts have also recently commented on CCA. Scotiabank set a C$75.00 target price on shares of Cogeco Communications and gave the company a "sector perform" rating in a report on Thursday, April 17th. Canaccord Genuity Group upped their price target on shares of 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. National Bankshares set a C$85.00 price target on shares of Cogeco Communications and gave the stock an "outperform" rating in a research note on Friday, June 6th. Finally, Royal Bank Of Canada upped their price target on shares of Cogeco Communications from C$77.00 to C$78.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 9th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of C$77.10.

Cogeco Communications Stock Down 0.5%

Shares of CCA stock traded down C$0.33 during mid-day trading on Thursday, reaching C$72.26. 25,843 shares of the company's stock traded hands, compared to its average volume of 80,460. Cogeco Communications has a 12 month low of C$53.50 and a 12 month high of C$75.09. The company has a market cap of C$3.04 billion, a P/E ratio of 8.75, a P/E/G 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 company's 50-day moving average price is C$68.99 and its 200-day moving average price is C$66.74.

Cogeco Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, May 7th were paid a dividend of $0.922 per share. This represents a $3.69 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend was Wednesday, April 23rd. 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.