Cogeco Communications (TSE:CCA) PT Raised to C$79.00 at Royal Bank of Canada

Cogeco Communications (TSE:CCA - Free Report) had its price objective hoisted by Royal Bank of Canada from C$76.00 to C$79.00 in a report released on Tuesday morning, BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

A number of other analysts have also commented on the stock. BMO Capital Markets upped their price objective on shares of Cogeco Communications from C$64.00 to C$65.00 and gave the company a market perform rating in a research note on Friday, January 12th. TD Securities reduced their price objective on shares of Cogeco Communications from C$93.00 to C$90.00 and set a buy rating for the company in a research note on Monday. Canaccord Genuity Group reduced their price objective on shares of Cogeco Communications from C$63.00 to C$60.00 and set a hold rating for the company in a research note on Monday. CIBC reduced their price objective on shares of Cogeco Communications from C$65.00 to C$63.00 and set a neutral rating for the company in a research note on Monday, December 18th. Finally, Desjardins reduced their price objective on shares of Cogeco Communications from C$68.00 to C$64.00 and set a hold rating for the company in a research note on Monday. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of C$69.69.

Cogeco Communications Price Performance

CCA stock traded up C$0.37 during trading on Tuesday, hitting C$56.45. The company had a trading volume of 39,960 shares, compared to its average volume of 100,127. The firm has a market capitalization of C$1.71 billion, a price-to-earnings ratio of 6.78, a P/E/G ratio of 4.77 and a beta of 0.47. The business has a 50 day moving average of C$59.80 and a 200 day moving average of C$58.49. Cogeco Communications has a fifty-two week low of C$50.78 and a fifty-two week high of C$72.56. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 136.39.

Cogeco Communications (TSE:CCA - Get Free Report) last posted its quarterly earnings data on Thursday, April 11th. The company reported C$2.21 earnings per share for the quarter, beating the consensus estimate of C$1.88 by C$0.33. Cogeco Communications had a net margin of 12.47% and a return on equity of 11.58%. The company had revenue of C$730.50 million during the quarter, compared to analyst estimates of C$735.00 million. As a group, research analysts predict that Cogeco Communications will post 8.4785185 earnings per share for the current year.

Cogeco Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Thursday, April 25th will be given a $0.854 dividend. This represents a $3.42 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date is Wednesday, April 24th. Cogeco Communications's dividend payout ratio (DPR) is 41.11%.

About Cogeco Communications

Cogeco Communications Inc operates as a telecommunications corporation in Canada and the United States. It operates in two segments, Canadian Telecommunications and American Telecommunications. The company offers Internet, video, and Internet protocol (IP) based telephony services to residential and small business customers through its two-way broadband fiber networks.