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.

Cogeco Communications Stock Performance

Shares of CCA traded up C$1.19 on Thursday, reaching C$84.15. 78,712 shares of the stock traded hands, compared to its average volume of 87,372. The firm has a market cap of C$4.01 billion and a price-to-earnings ratio of 9.51. The company has a debt-to-equity ratio of 148.86, a current ratio of 0.56 and a quick ratio of 0.53. Cogeco Communications has a 12 month low of C$80.30 and a 12 month high of C$119.27. The stock's 50-day moving average price is C$88.42 and its 200-day moving average price is C$98.39.

Cogeco Communications (TSE:CCA - Get Rating) last released its quarterly earnings data on Wednesday, July 13th. The company reported C$2.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C$2.29 by C($0.13). The firm had revenue of C$728.12 million during the quarter. Equities analysts forecast that Cogeco Communications will post 9.2600004 EPS for the current fiscal year.

Cogeco Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 10th. Stockholders of record on Wednesday, August 10th were given a dividend of $0.705 per share. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend was Tuesday, July 26th. Cogeco Communications's dividend payout ratio is presently 31.13%.

Wall Street Analysts Forecast Growth

CCA has been the topic of a number of recent analyst reports. Scotiabank cut their price objective on Cogeco Communications from C$114.50 to C$112.50 in a research note 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 note on Thursday, July 14th. BMO Capital Markets cut their price objective on Cogeco Communications from C$130.00 to C$120.00 in a research note on Friday, July 15th. CIBC downgraded Cogeco Communications from an "outperform" rating to a "hold" rating and dropped their price target for the stock from C$126.00 to C$100.00 in a research report on Wednesday, June 29th. Finally, National Bankshares downgraded Cogeco Communications from an "outperform" rating to a "sector perform" rating and dropped their price target for the stock from C$119.00 to C$108.00 in a research report on Friday, July 15th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of C$116.06.

Insider Buying and Selling at Cogeco Communications

In other Cogeco Communications news, Senior Officer Christian Jolivet sold 950 shares of the company's stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of C$103.50, for a total value of C$98,325.00. Following the sale, the insider now directly owns 15,994 shares in the company, valued at C$1,655,379. In other Cogeco Communications news, Senior Officer Christian Jolivet sold 950 shares of the company's stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of C$103.50, for a total value of C$98,325.00. Following the sale, the insider now directly owns 15,994 shares in the company, valued at C$1,655,379. Also, insider Cogeco Communications Inc. purchased 2,500 shares of the stock in a transaction on Wednesday, June 1st. The stock was bought at an average price of C$104.81 per share, for a total transaction of C$262,028.00. Following the completion of the transaction, the insider now directly owns 2,500 shares of the company's stock, valued at C$262,028. Insiders have purchased 158,890 shares of company stock worth $14,374,681 over the last three months.