Cogeco Communications - CCA Stock Forecast, Price & News

Cogeco Communications Inc. operates as a communications corporation in North America. It operates in two segments, Canadian Broadband Services and American Broadband Services. The company offers Internet, video, and telephony services to residential and business customers through its two-way broadband fiber networks. It provides Internet services using modems, Wi-Fi gateways, and extenders either on a rental basis or as part of the Internet service package; video services on a subscription basis; home phone services using Internet protocol (IP); local and long-distance calling services; broadband Internet services; and IP based telephony services and other network connectivity services delivered over fiber optic connection to larger businesses. The company serves the primary service units, Internet, video, and telephony service customers. It offers cable operator services under the Cogeco Connexion name in Québec and Ontario, and in the United States under the Atlantic Broadband brand. The company was formerly known as Cogeco Cable Inc. and changed its name to Cogeco Communications Inc. in January 2016. Cogeco Communications Inc. was founded in 1972 and is headquartered in Montreal, Canada. Cogeco Communications Inc. operates as a subsidiary of Cogeco Inc.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. National Bankshares downgraded Cogeco Communications from an "outperform" rating to a "sector perform" rating and reduced their price objective for the company from C$119.00 to C$108.00 in a research report on Friday, July 15th. BMO Capital Markets reduced their target price on Cogeco Communications from C$130.00 to C$120.00 in a research report on Friday, July 15th. National Bank Financial downgraded Cogeco Communications from an "outperform market weight" rating to a "sector perform market weight" rating in a research report on Thursday, July 14th. TD Securities upgraded Cogeco Communications to a "buy" rating and set a C$120.00 target price on the stock in a research report on Friday, June 17th. Finally, Scotiabank reduced their target price on Cogeco Communications from C$114.50 to C$112.50 in a research report on Friday, July 15th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of C$116.06.

Cogeco Communications Trading Up 1.4 %

TSE:CCA traded up C$1.16 on Friday, hitting C$85.31. 63,327 shares of the stock were exchanged, compared to its average volume of 87,216. The stock has a market cap of C$4.06 billion and a PE ratio of 9.64. The company has a current ratio of 0.56, a quick ratio of 0.53 and a debt-to-equity ratio of 148.86. The stock has a fifty day moving average of C$88.13 and a 200-day moving average of C$98.32. Cogeco Communications has a fifty-two week low of C$80.30 and a fifty-two week high of C$119.27.

Cogeco Communications (TSE:CCA - Get Rating) last announced its quarterly earnings results on Wednesday, July 13th. The company reported C$2.16 EPS for the quarter, missing the consensus estimate of C$2.29 by C($0.13). The business had revenue of C$728.12 million during the quarter. As a group, equities analysts expect that Cogeco Communications will post 9.2600004 earnings per share for the current fiscal year.

Cogeco Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 10th. Shareholders of record on Wednesday, August 10th were paid a dividend of $0.705 per share. The ex-dividend date was Tuesday, July 26th. This represents a $2.82 annualized dividend and a yield of 3.31%. Cogeco Communications's dividend payout ratio is presently 31.13%.

Insiders Place Their Bets

In other Cogeco Communications news, Senior Officer Christian Jolivet sold 950 shares of the company's stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of C$103.50, for a total transaction of C$98,325.00. Following the completion of the sale, the insider now directly owns 15,994 shares in the company, valued at C$1,655,379. In related news, insider Cogeco Communications Inc. bought 5,100 shares of the stock in a transaction dated Monday, July 18th. The stock was acquired at an average price of C$82.86 per share, for a total transaction of C$422,580.90. Following the completion of the purchase, the insider now owns 66,100 shares in the company, valued at C$5,476,979.90. Also, Senior Officer Christian Jolivet sold 950 shares of the stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of C$103.50, for a total value of C$98,325.00. Following the completion of the sale, the insider now owns 15,994 shares of the company's stock, valued at approximately C$1,655,379. Insiders bought 158,890 shares of company stock worth $14,374,681 over the last three months.