Cogeco Communications Inc. (TSE:CCA) Announces Quarterly Dividend of $0.85

Cogeco Communications Inc. (TSE:CCA - Get Free Report) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors of record on Thursday, May 9th will be given a dividend of 0.854 per share on Thursday, May 9th. This represents a $3.42 annualized dividend and a yield of 6.06%. The ex-dividend date of this dividend is Wednesday, April 24th.

Cogeco Communications Stock Performance

Shares of TSE CCA traded down C$0.22 during midday trading on Monday, reaching C$56.36. 36,200 shares of the company were exchanged, compared to its average volume of 97,647. The stock has a fifty day simple moving average of C$59.31 and a 200 day simple moving average of C$58.32. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 136.39. The stock has a market cap of C$1.70 billion, a P/E ratio of 6.77, a PEG ratio of 4.77 and a beta of 0.47. Cogeco Communications has a 1 year low of C$50.78 and a 1 year high of C$72.56.

Cogeco Communications (TSE:CCA - Get Free Report) last released its quarterly earnings results on Thursday, April 11th. The company reported C$2.21 EPS for the quarter, topping the consensus estimate of C$1.88 by C$0.33. Cogeco Communications had a return on equity of 11.58% and a net margin of 12.47%. The business had revenue of C$730.50 million during the quarter, compared to analysts' expectations of C$735.00 million. On average, research analysts forecast that Cogeco Communications will post 8.4785185 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CCA has been the subject of a number of recent analyst reports. Scotiabank reduced their target price on Cogeco Communications from C$77.00 to C$73.50 and set a "sector perform" rating for the company in a report on Monday, April 15th. BMO Capital Markets boosted their price objective on shares of Cogeco Communications from C$64.00 to C$65.00 and gave the stock a "market perform" rating in a report on Friday, January 12th. Desjardins reduced their price target on shares of Cogeco Communications from C$68.00 to C$64.00 and set a "hold" rating for the company in a research report on Monday, April 15th. Canaccord Genuity Group lowered their price target on Cogeco Communications from C$63.00 to C$60.00 and set a "hold" rating on the stock in a report on Monday, April 15th. Finally, Royal Bank of Canada boosted their target price on Cogeco Communications from C$76.00 to C$79.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of C$69.69.

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.